Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management

This paper is devoted to establishing the consequences of integrating CSR into the marketing mix for financial risks in modern companies. Based on the international statistics for 2023, we compiled a regression model of the dependence of financial risks on the integration of CSR into their marketing...

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Главные авторы:	Vorontsova, G. V., Воронцова, Г. В.
Формат:	Статья
Язык:	English
Опубликовано:	Multidisciplinary Digital Publishing Institute (MDPI) 2024
Темы:	Corporate social responsibility (CSR) Sustainable development of companies Financial risk management Marketing mix Risk management
Online-ссылка:	https://dspace.ncfu.ru/handle/123456789/29160
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spelling	ir-123456789-291602024-10-18T12:55:31Z Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management Vorontsova, G. V. Воронцова, Г. В. Corporate social responsibility (CSR) Sustainable development of companies Financial risk management Marketing mix Risk management This paper is devoted to establishing the consequences of integrating CSR into the marketing mix for financial risks in modern companies. Based on the international statistics for 2023, we compiled a regression model of the dependence of financial risks on the integration of CSR into their marketing mix. Based on that, we developed a new system approach to managing companies’ sustainable development. Its features are marketing management of the sustainable development of companies, systemic management of social and financial risks to companies, and implementation of risk management through integrating CSR into the marketing mix. The main conclusion is that the sustainable development of companies in the Decade of Action requires a systemic integration of CSR into the marketing mix, for this will allow for the simultaneous reduction of social and financial risks. The theoretical significance of this conclusion consists in the disclosure of previously unknown cause-and-effect relationships between CSR and financial risks to companies, which are explained in this paper through the lens of the elements of the marketing mix in the 7P model. The originality of this research consists in developing novel marketing tools for the systemic management of social and financial risks for companies with the help of CSR. The practical significance relates to the fact that the offered recommendations on the more complete integration of CSR into their marketing mix will allow reducing financial risks and ensuring sustainable development of Russian companies in the Decade of Action (until 2030). The managerial significance is as follows: the developed system approach to managing companies’ sustainable development will improve the practice of risk management in companies due to previously unavailable joint management and the general reduction of social and financial risks. 2024-10-18T12:54:27Z 2024-10-18T12:54:27Z 2024 Статья Kucharov, A.S., Sozinova, A.A., Popkova, E.G., Fomenko, N.M., Vorontsova, G.V., Ostrovskaya, V.N. Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management // Risks. - 2024. - 12 (8). - статья № 121. - DOI: 10.3390/risks12080121 https://dspace.ncfu.ru/handle/123456789/29160 en Risks application/pdf application/pdf Multidisciplinary Digital Publishing Institute (MDPI)
institution	СКФУ
collection	Репозиторий
language	English
topic	Corporate social responsibility (CSR) Sustainable development of companies Financial risk management Marketing mix Risk management
spellingShingle	Corporate social responsibility (CSR) Sustainable development of companies Financial risk management Marketing mix Risk management Vorontsova, G. V. Воронцова, Г. В. Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management
description	This paper is devoted to establishing the consequences of integrating CSR into the marketing mix for financial risks in modern companies. Based on the international statistics for 2023, we compiled a regression model of the dependence of financial risks on the integration of CSR into their marketing mix. Based on that, we developed a new system approach to managing companies’ sustainable development. Its features are marketing management of the sustainable development of companies, systemic management of social and financial risks to companies, and implementation of risk management through integrating CSR into the marketing mix. The main conclusion is that the sustainable development of companies in the Decade of Action requires a systemic integration of CSR into the marketing mix, for this will allow for the simultaneous reduction of social and financial risks. The theoretical significance of this conclusion consists in the disclosure of previously unknown cause-and-effect relationships between CSR and financial risks to companies, which are explained in this paper through the lens of the elements of the marketing mix in the 7P model. The originality of this research consists in developing novel marketing tools for the systemic management of social and financial risks for companies with the help of CSR. The practical significance relates to the fact that the offered recommendations on the more complete integration of CSR into their marketing mix will allow reducing financial risks and ensuring sustainable development of Russian companies in the Decade of Action (until 2030). The managerial significance is as follows: the developed system approach to managing companies’ sustainable development will improve the practice of risk management in companies due to previously unavailable joint management and the general reduction of social and financial risks.
format	Статья
author	Vorontsova, G. V. Воронцова, Г. В.
author_facet	Vorontsova, G. V. Воронцова, Г. В.
author_sort	Vorontsova, G. V.
title	Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management
title_short	Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management
title_full	Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management
title_fullStr	Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management
title_full_unstemmed	Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management
title_sort	integration of csr into the marketing mix for the sustainable development of companies: a view from the position of financial risk management
publisher	Multidisciplinary Digital Publishing Institute (MDPI)
publishDate	2024
url	https://dspace.ncfu.ru/handle/123456789/29160
work_keys_str_mv	AT vorontsovagv integrationofcsrintothemarketingmixforthesustainabledevelopmentofcompaniesaviewfromthepositionoffinancialriskmanagement AT voroncovagv integrationofcsrintothemarketingmixforthesustainabledevelopmentofcompaniesaviewfromthepositionoffinancialriskmanagement
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Integration of CSR into the Marketing Mix for the Sustainable Development of Companies: A View from the Position of Financial Risk Management

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