Doing business in responsible manner: the case of Italian investors on the Serbian market

Pržulj, Živka and Radovanović, Bojana (2009) Doing business in responsible manner: the case of Italian investors on the Serbian market. In: Business Opportunities in Serbia : the case of Italian business sector and the role of management education. Belgrade Banking Academy and Institute of Economic Sciences, Belgrade, pp. 302-313. ISBN 978-86-9852-025-9

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Abstract

The assumption of this project is that in addition to the profit and benefits for owners, corporations also affect the society and its development. Concurrently, the common concept is that socially responsible business positively affects corporation’s financial results. However, management is not always aware of the correlation between corporation’s long-term performance and respect for ethical standards and is often oriented to achieving short term goals. The question of ethics in business is especially present in the times of crisis, the crises we are facing now. In developed market economies, questions of ethical business are the focal points of interest, leading to creation of certain rules and standards. However, in an underdeveloped and societies in transition ethical business is often in the shadow of questions about profitability. Therefore, we believe that it is very important to discover how social responsible business is seen by corporations from developed countries that are operating in Republic of Serbia. Since Italy is one of the leading investors in the Serbian market, our goal is to explore relationship of Italian corporation towards their employees, natural environment and society.

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