On the 12th of September 2017. The Institute for social and educational politics held a round table meeting in Bar, Montenegro in accordance to the work field of the Institute – socially responsible business and development of volunteerism, where the representatives of both the civil and the start-up business sector had the opportunity to learn more about socially responsible business and that it does not come down to just the financial donations of companies.
Social responsibility of a company represents orientation of the company to the advancement of social wellbeing through discrete, volunteer and business practice and contribute to their own interests with notoriety accredited through said practice. As such, the company takes responsibility to protect and develop societal enrichment and its own, through varying business practices and social actions and to secure lawful and withstanding benefits for all shareholders. The social responsibility of companies is observed with the context of resource-based views of the firm. To clarify the reasons behind growing engagement of businesses in the activities of corporative social responsibilities, we use the concept of relationship management. Companies with developed strategies within whose basis is an adequate principle of social responsibility have the possibility to build and advance their relationship with shareholders. In the process of building a competitive advantage of the company, the key part is played by impalpable resources, among which reputation especially stands out as a basis of building long term relationships with all internal and external shareholders. In practice we prove that reputation as a result of said activities helps development of relationship management in building concrete, long term relationships with employees, consumers, investors, local communities, distributers and other shareholders. With that, the company can achieve a status high above competition, differentiation and in that context achieve a withholding competitive advantage. The main goal of said practice reflects itself in the finding of optimal strategies of corporative social responsibility which enables the company to build a maintaining competitive advantage.
The Moderator of the round table was CEO of the Institute – Mitar Radonjic.