CSR STRATEGIES AND PRACTICES: THE CASE OF THE CZECH REPUBLIC

The concept of Corporate Social Responsibility (CSR) has been the subject of debate and research with non-profit organizations in the CR since the early 1990's. This concept has been embedded in Czech society by the local subsidiaries of multinational corporations (MNC's). CSR is a strategy whereby the corporations take responsibility for the economic, social and environmental consequences of their business activities. In so doing, they undertake to limit/eliminate the negative impact which they have on their 'stakeholders. The aim of this paper is to identify and analyze the extent to which the local subsidiaries of MNC's really do implement and utilize the CSR concept in favour of stakeholders. The local trends are characterized in terms of quantity and quality. Year by year, a growing number of businesses formulate a CSR strategy and develop CSR projects. The quality of these projects is also constantly being improved upon. They focus on disadvantaged communities, the sustainability of CSR activities, in addition to quantifying the benefits for business, as well as for society as a whole. Philanthropy continues to occupy its place in CSR projects. However, the austerity measures contained in successive budgets give greater encouragement to those practices which connect companies' core business activities with CSR activities.