INTERRELATION BETWEEN THE UNIVERSITY'S SOCIAL RESPONSIBILITY AND SUSTAINABILITY

Since the 1990s the Russian universities have been under constant reformation - first in a strive to survive, then under the aegis of the Bologna process, later according to the American business model of 'education services providers', with a number of 'big' Russian universities having achieved some serious results and positions in global rankings and two thirds of the total number of Russian universities closed down or taken over by the Ministry's favourites. Like many revolutionary reforms, the higher education reforms in the Russian Federation took little notice of people working for universities doomed to closure or merger, so today, when the Russian government speaks much about sustainability, the situation with two fundamentals of corporate sustainable development corporate social responsibility and wellbeing, arouses my particular research interest. The purpose of the research was to understand and describe the current state of implementation of CSR and wellbeing concepts at universities worldwide and Russian universities in particular and identify the factors hindering successful development of the concepts in the Russian higher education system. The results of the study show that CSR and wellbeing concepts have been understood and implemented differently at different Russian universities due to a number of reasons identified within the research. Based on the findings, recommendations were formulated aimed at facilitating the implementation of the University CSR and wellbeing concepts. The results can be applied to improve the situation with CSR and staff's wellbeing both in Russian and other universities of the world.