Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)


Formation of the System of Fair Business Practice of the Company under Conditions of Corporate Responsibility

Author(s): Lidiia Karpenko, Pavlo Pashko, Pavlo Voronzhak, Hanna Kalach, Mykola Nazarov

The economic and social benefits of introducing a system of fair business practices in the company are considered. It has been proven that the formation of social programs as an element of a system of fair business practice contributes to the creation of a favorable social environment and more stable development for the company in the long term period. The advantages and disadvantages of business practice assessment methods are analyzed: The index method, rating models and business reputation assessment. The proposed author's methodology for business practice assessment based on the concept of goodwill measuring and the method of scenarios allows determining the economic effect already at the start of the introduction of the management mechanism of the company's fair business practice. 

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