Sitemap

Comment

Giving Has Become Even More Precious

Both CSR practitioners and researchers expect companies to profoundly reconsider their CSR strategies in the post-pandemic era and to interlink their personal goals with those related to the UN Sustainable Development Goals

It is no secret that the COVID-19 global pandemic has had a profound impact on the global business community and its relations with global and local surroundings. Pressed by the cost of the continuing crisis, countries around the world have decided to open up to the business world and seek support. Indeed, in many countries – Serbia included – numerous companies rushed to support healthcare systems in providing essential equipment and medication. More than half of all companies in Serbia report that the crisis has had a major impact on their finances and operations, while the remaining companies assess its impact as medium. Regardless of these sobering statistics, most companies did their best to channel their CSR activities toward those who are most in need.

This unprecedented crisis has affected both consumer behaviour and company practises. Consumers changed the way they use their spare income and spare time, taking the opportunity to reconsider their values, priorities and sentiments in buying products and brands.

These changes have important consequences for companies. In the face of these new consumer trends, they will need to adjust their strategic decisions. Numerous companies have already decided to use corporate social responsibility (CSR) to demonstrate their commitment to fighting against COVID-19 and alleviating the negative consequences of the pandemic for their stakeholders.

Both CSR practitioners and researchers expect companies to profoundly reconsider their CSR strategies in the post-pandemic era.

Consumers expect companies to respond to both the global and local threats to economic, social and environmental sustainability that have been imposed by the COVID-19 outbreak

Our interlocutors, as well as their colleagues elsewhere around the world, expect that the experiences of the COVID-19 global pandemic could lead to changes in consumer psychology and behaviour, especially in terms of the central role that CSR can play in reconstructing business opportunities and international economies.

For example, it is expected that companies will put much more effort into shifting towards more genuine and authentic CSR that contributes to addressing urgent social and environmental challenges. This will come as a consequence of the changes in consumer preferences, as the people demand action that is more meaningful and ethical. This, for example, means interlinking CSR activities with sustainability and the UN Sustainable Development Goals. In a more straightforward way, consumers expect companies to respond to both the global and local threats to economic, social and environmental sustainability that have been imposed by the COVID-19 outbreak.

Such a situation may create space for some improvements in domestic legislation governing CSR, specifically food donations, which it seems could be needed even more once the full weight of the economic crisis hits.

As pointed out in our publication, it is estimated that the value of food donated on the Serbian market currently amounts to a value of 525.6 million dinars. If VAT on food donations were to be abolished, donors would increase their contribution by almost a third. Translated into meals, this would mean an additional 1.2 million meals.

This topic was debated with decision makers at the height of the pandemic, but it remains to be seen whether the proposal will be adopted.

Related Articles

Neven Marinović, Director Of Smart Kolektiv and The Responsible Business Forum Serbia

Focusing Attention On Sustainable Operations

We are witnessing changes to values, behaviour and priorities in all aspects of life, as well as in interactions between businesses and the society...

Lidl Srbija

For A Better Tomorrow

Corporate social responsibility is an important part of the corporate philosophy of Lidl Srbija The company’s responsibility motto is “For a better tomorrow”, and it...

MK Group

More Than 5 Million Dinars For Newborn Babies In The MK Group

Even in a year that was marked by the Coronavirus Pandemic, the traditional action “Support to the Family” continued, within the scope of which...

More...

Zdravko Krivokapić, Prime Minister Of Montenegro

It Takes Two To Feed The Growth

The crisis represents an opportunity for Montenegro to try to build more a resilient, inclusive and green post-pandemic recovery. The government is open to...

Comment by Zoran Panović

Nafaka

After the ‘Versailles’ peace (1918-1941) and the ‘Titoist’ peace (1945-1991), the area of the so-called Western Balkans and Bosnia-Herzegovina now live in a third...

Bojan Klačar, Executive Director Of The Centre For Free Elections And Democracy (CESID)

“Koštunica 2.0” Isn’t A Realistic Scenario For The 2022 Opposition Candidate

The opposition requires an authentic candidate for the present juncture, one who understands current problems and is ready to articulate the interests of citizens...

Bojan Vranić, Associate Professor, Faculty Of Political Sciences, University Of Belgrade

The Myth Of A Neutral Leader

It would be difficult for the opposition to justify the idea of a neutral leader as an engine of mobilising voters who’ve abstained for...

News

Serbia And European Union For Innovation

The synergy effect created from the partnership between the Republic of Serbia and the European Union has given a...

Mokra Gora Announced One Of The Best Tourism Villages Of 2021

The best examples of villages embracing tourism to provide opportunity and drive sustainable development have been celebrated at the...

WTA Suspends Tournaments In China

Beijing took umbrage on Thursday at the suspension of Women's Tennis Association (WTA) tournaments in China in solidarity with...

Sustainable Construction Protects Serbia

Sustainable construction reduces the consumption of non-renewable resources, promotes the use of renewable energy sources, minimizes waste, creates healthier...

Multimedia And Creative Services Workers Lead The Region

Southeast Europe’s online labour market is becoming increasingly attractive to those with a less sophisticated skillset. The negative aspect...

Mokra Gora Announced One Of The Best Tourism Villages Of 2021

The best examples of villages embracing tourism to provide opportunity and drive sustainable development have been celebrated at the...

WTA Suspends Tournaments In China

Beijing took umbrage on Thursday at the suspension of Women's Tennis Association (WTA) tournaments in China in solidarity with...

New EIB Survey Shows Positive Developments In Bank Lending in Central, Eastern and South-Eastern Europe

The European Investment Bank (EIB) published the autumn 2021 edition of its CESEE bank lending survey. The reportinvestigates the...

Beijing Olympics: What Could A Diplomatic Boycott Achieve?

Calls for a diplomatic boycott of the Beijing Olympics over China's human rights abuses are growing louder. What can...

Protesters Blocking Roads Due To New Laws On Property Expropriation And Referendum

Protests over the law on property expropriation and referendum were organized in Belgrade and Novi Sad over the weekend,...

Mokra Gora Announced One Of The Best Tourism Villages Of 2021

The best examples of villages embracing tourism to provide opportunity and drive sustainable development have been celebrated at the...

WTA Suspends Tournaments In China

Beijing took umbrage on Thursday at the suspension of Women's Tennis Association (WTA) tournaments in China in solidarity with...

New EIB Survey Shows Positive Developments In Bank Lending in Central, Eastern and South-Eastern Europe

The European Investment Bank (EIB) published the autumn 2021 edition of its CESEE bank lending survey. The reportinvestigates the...

Beijing Olympics: What Could A Diplomatic Boycott Achieve?

Calls for a diplomatic boycott of the Beijing Olympics over China's human rights abuses are growing louder. What can...

Protesters Blocking Roads Due To New Laws On Property Expropriation And Referendum

Protests over the law on property expropriation and referendum were organized in Belgrade and Novi Sad over the weekend,...