On the 30th of November, 2017. the Institute for social and educational politics held a lecture for high schoolers about “Responsible societal business”, in accord with the field of study of the Institute – responsible societal business and the development of volunteerism. Following world trends, corporative societal responsibility is starting to take its toll on Montenegro, which is really good. The most important thing to explain to not only high schoolers but a great number of other societal participants is that responsible societal business does not only come down to financial donations but is a much broader and complex term. At this lecture high schoolers learned that corporative responsibility symbolizes the corporation’s entire work on the relationship with its employers, buyers, suppliers, business partners, shareholders, society, but also on the ways the legal regulations, benefits to the safekeeping of the environment are handled and respected and how it influences the general development of the social environment.
Responsible societal business in the field of environmental protection covers the means of production ie. the use of energy for activities where renewable resources have the preference; responsible societal companies use materials and raw resources less impactful on the environment, they respect the standards of ecologic production and managing waste. They use more efficient systems of production which use less energy and don’t contaminate the environment. Recycling and reuse of products and raw materials also make up an important segment of responsible business.
When it comes to non-productive companies, they, apart from using renewable sources of energy, can improve the production industry by favorizing products of those companies that promote the standards of environmental protection and do business in accord to them. Apart from that, all companies can support governmental and private projects in this field, either by direct financing or by volunteering. Environmental protection can have some concrete economic benefits. For example, the reduction of invested energy and materials almost instantly improves the competition on the market and reduces the price of the product, increasing the company’s profit. The use of cheap, recycled raw materials can reduce the cost of production, and the companies which would implement innovative and modern technologies that decrease the impact on the environment would have a larger number of attractive work places and would be more competitive on the market. Next, the companies recognized as socially responsible receive grants from foreign investments for their projects, and in some countries they receive benefits from their respective governments, per say partial tax relief. Even though there are a number of companies that do business in said ways, Montenegro is still behind other developed countries when it comes to socially responsible business which is in most cases dumbed down to occasional financial donations. That means that it is a great place for development of said business types, and that there is a great opportunity for start-up companies to change their ways of doing business and with that, become leaders of responsible business in Montenegro and the region.
The Moderator of the lecture was the CEO of the Institute – Mitar Radonjic.