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Confucianism and the Catholic Social Teaching as Building Blocks of Corporate Social Responsibility

The purpose of this article is to encourage further research in a crucial field for modern business management: How to increase corporate social responsibility (CSR) and how to create the socially responsible environment for strategic planning processes and thus improve corporate governance in stakeholders' economy. Human history offers answers to many of actual questions and dilemmas, even if one searches in different geographic, economic and religious environments. Comparison of Catholic social teaching and Confucianism make sense because modern ideas, such as The Belt and Road Initiative, tend to connect distant parts of the world in order to improve communication between people and contribute to the general wellbeing in all countries included in the project. The methodology used in desk research includes the analysis of different approaches to the main object: corporate social responsibility. Confucianism, as well as social teaching of the Church, can offer a solid platform for further building of the modern approach to the decision making in the general interest of all stakeholders. Going through the most recent results of the economic and social influences, the author will examine two basic components of corporate social responsibility that are crucial for the clear distinction between profit-oriented business activity and socially responsible businesses. The first important component of CSR is accentuated social responsibility in choosing a business activity. The second important component of CSR has increased responsibility towards social community and individuals in the process of performing these activities. Processes related to strategic planning have a long-term impact on the functioning of any organization and its basic components cannot be defined without respecting the essence of social responsibility. Thoughtfully structured and implemented, the corporate social responsibility approach can improve organizations efficiency and competitiveness. The origin for socially responsible behavior is in different traditions of Confucianism and Catholic social teaching which means that a significant part of mankind can accept the concept of responsibility to others. Practical implications of the research can be expected in the fact that even different and distant social communities can accept the same type of responsible behavior towards the natural environment and other people. The originality of the article is in introducing a relatively new approach to finding the building blocks of modern and responsible business activity.

Confucianism, Catholic Social Teaching, Corporate Social Responsibility, Belt and Road Iniciative

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