Corporate Social Responsibility as a Part of Company’s Strategy

Nowadays rapid growth of the market competition many companies around the world are in search of alternative methods to attract new customers and workforce. One of the modern ways of doing business is the way of integrating principles of corporate social responsibility into corporation strategy. CSR generally is a complex of principles and responsibilities for producing extra socially oriented services besides demanded by the law, positively impacted on development of the society, integrated in the business model. Company that is eager to get hold of the advantage in the competition on the dynamically developing market should put a lot of attention to work on increasing loyalty of their customers. The ethical part of company activities means a lot to modern customer. Also social responsible company always thinking about the ethics of the way they are making their profits. In that study, the company's CSR was analyzed as an element of the company's overall development strategy, both from the theoretical side and from the practical example of Azimut JV. Based on the analysis, practical recommendations for the modernization of the company's business strategy, taking into account the integration of CSR principles, were made, the effectiveness of the proposed innovations was evaluated. In conclusion, the author's conclusions on the importance of CSR as an element of the company's strategy, the relevance of the measures proposed for implementation, the state of CSR practices in Russian companies at the moment, and the author's perspective on the prospects of CSR development in Russia are given.