SOCIAL RESPONSIBILITY AND ITS IMPORTANCE TO THE PERFORMANCE MANAGEMENT OF BUSINESS COMPANIES: ACTUAL SITUATION IN THE CZECH REPUBLIC

The aim of this article is to provide a framework of standards of social responsibility in the Czech Republic and mention its importance to the business management. Paper offers a literature review supplemented by the author's empiric research into the social performance. Currently the, firm's survival" depends not only on financial competitiveness, it is equally important that the organization could demonstrate their position in relation to the various interested parties (stakeholders), which are affected by the activities of the enterprise. Based the empirical research, there is no relationship between established standard of social responsibility and profitability of company. Despite the fact of absence of this relationship, it is possible to conclude that the social responsibility in various areas is associated with many benefits for the enterprise itself. That can be a significant competitive advantage in today's rapidly changing environment.