Social audit and social responsibility have become the focus of sustainable community development to address risk and sustainability challenges. Social audit involves an official review of the ...company's procedures and codes of conduct regarding social responsibility and community impact. Social audit involves assessing how many companies achieve sustainable development goals. In practice, an increasing number of accountants and auditors are faced with the notion of social auditing. It covers the analysis of non-financial aspects and business risks, both in the private and public sectors. This paper aims to highlight the importance and contribution of social audit through risk analysis, and environmental and social aspects for sustainable community development. The content and implementation of social audit have similar objectives as the financial audit of operations, but social audit is specifically and additionally focused on the performance and operation of organizations that are not necessarily financial in nature. Some elements of the implementation of the social audit process are increasingly present in the implementation of due diligence, but the social audit as a whole is still conducted separately. Social audit has an active and important role in achieving social responsibility and sustainable development.
From a long-term perspective, modern capitalism does not only require companies to profit as much as possible, but is increasingly paying attention to the social and environmental problems of ...business. It refers to meeting the social and environmental needs of the wider community. Climate change affecting the extinction of biological species has a major impact on human life and the global economic crisis, which increasingly requires corporations to care about global environmental impact and bio-sustainability. Which requires strengthening corporate responsibility with increasing attention to social and environmental problem. The main objective of this paper is to examine the representation of the CSR strategy in small and medium-sized enterprises in the Republic of Croatia, looking through the economic, social and environmental dimensions. An analysis of the application of the existing level of socially responsible business was made, as well as a comparison of the levels of implementation of the social and environmental dimension in the observed SMEs. The empirical research in this paper concludes that the sample SMEs are oriented towards the operational and financial aspects of business, while at the same time adopting business strategies across all three dimensions of CSR. Keywords: Corporate Social Responsibility, SMEs
In 2022, Croatia finally met all the criteria and started the last stage of the process of introducing the euro. An extremely large number of stakeholders participate in the process of introducing ...the euro - from public authorities and regulators, banks and entrepreneurs to citizens. Before the procedure of introducing the euro as the official currency, each country conducts an analysis of benefits and costs, and accordingly makes a decision on the justification of the country's accession to the eurozone. With the introduction of the euro as the official currency, the Republic of Croatia faced the loss of its independent monetary and exchange rate policy. Along with the loss of monetary policy, there is also an increase in the price level due to conversion, the risk of excessive capital overflow and accumulation of macroeconomic imbalances, one-off costs of conversion, one-off costs of the Croatian National Bank's accession to the Eurosystem and participation in providing financial assistance to other member states. For this research, a survey was conducted on a sample of 596 respondents of citizens of the Republic of Croatia, about the impact of the euro on inflation and the standard of living of citizens.
Social audit and social responsibility have become the focus of sustainable community development to address risk and sustainability challenges. Social audit involves an official review of the ...company’s procedures and codes of conduct regarding social responsibility and community impact. Social audit involves assessing how many companies achieve sustainable development goals. In practice, an increasing number of accountants and auditors are faced with the notion of social auditing. It covers the analysis of non-financial aspects and business risks, both in the private and public sectors. This paper aims to highlight the importance and contribution of social audit through risk analysis, and environmental and social aspects for sustainable community development. The content and implementation of social audit have similar objectives as the financial audit of operations, but social audit is specifically and additionally focused on the performance and operation of organizations that are not necessarily financial in nature. Some elements of the implementation of the social audit process are increasingly present in the implementation of due diligence, but the social audit as a whole is still conducted separately. Social audit has an active and important role in achieving social responsibility and sustainable development.
Strategic management can be said to have evolved over time and will continue to evolve. In order for companies to be more successful in their operations, they need a methodological approach to ...developing a strategic plan. Creating a strategic plan is by no means a simple process and it is necessary to carefully observe the environment in which the company operates, as well as to plan in detail all the factors that play a key role in the strategic planning process. The adoption of a good strategic business plan of the company ends with making quality and effective decisions on which the successful business results of the company will be based. After a quality and well-drafted strategic plan, it is necessary to start a good and quality implementation of it. Failure to implement strategic plans is one of the main reasons why companies fail or stagnate. Strategy implementation is a complex process because it is a consequence of complex relationships. In accordance with the above, an empirical study was conducted on a sample of 52 companies in the Republic of Croatia. The subject and goal of the research was to scientifically determine the importance of adopting and implementing long-term strategic plans. The main results of the research are that the degree of implementation of the strategy is not significantly related to the indicators of net profit margin (ROS 0.164) and return on equity (ROE 0.216), while it is partially related to the indicator of earnings strength (TSZ 0.304) but is significant for a successful business. The implementation of the research revealed that strategic planning is an extremely important and significant factor for stable growth and development of the company. The implementation of the strategy has an important contribution to the successful operation of the company.
Strategic management can be said to have evolved over time and will continue to evolve. In order for companies to be more successful in their operations, they need a methodological approach to ...developing a strategic plan. Strategy implementation is a complex process because it is a consequence of complex relationships. In accordance with the above, an empirical study was conducted on a sample of 53 companies in the Republic of Croatia. The subject and goal of the research was to scientifically determine the importance of adopting and implementing long-term strategic plans. The main results of the research are that the degree of implementation of the strategy is not significantly related to the indicators of net profit margin (ROS 0.164) and return on equity (ROE 0.216), while it is partially related to the indicator of earnings strength (TSZ 0.304) but is significant for a successful business. The implementation of the research revealed that strategic planning is an extremely important and significant factor for stable growth and development of the company. The implementation of the strategy has an important contribution to the successful operation of the company.
Strategic management can be said to have evolved over time and will continue to evolve. In order for companies to be more successful in their operations, they need a methodological approach to ...developing a strategic plan. Strategy implementation is a complex process because it is a consequence of complex relationships. In accordance with the above, an empirical study was conducted on a sample of 53 companies in the Republic of Croatia. The subject and goal of the research was to scientifically determine the importance of adopting and implementing long-term strategic plans. The main results of the research are that the degree of implementation of the strategy is not significantly related to the indicators of net profit margin (ROS 0.164) and return on equity (ROE 0.216), while it is partially related to the indicator of earnings strength (TSZ 0.304) but is significant for a successful business. The implementation of the research revealed that strategic planning is an extremely important and significant factor for stable growth and development of the company. The implementation of the strategy has an important contribution to the successful operation of the company.
Suvremeno globalno okruženje zahtijeva od korporativnog menadžmenta primjenu novih način upravljanja radi ostvarivanja i zadržavanja konkurentske prednosti. Sve interesne skupine moraju imati ...zajednički cilj kako bi se ostvarilo opće zadovoljstvo. Poduzećima ne smije više jedini cilj biti ostvarivanje profita, nego i boljitak društva u cjelini. Iz navedenih se razloga zagovara koncept ekonomije trećeg puta. Ekonomija trećeg puta u prvi plan stavlja socijalnu osjetljivost prema široj društvenoj zajednici. To ne podrazumijeva socijalno pomaganje pojedincima, nego stvaranje uvjeta za postizanje veće pravičnosti u pogledu socijalne i ekonomske osjetljivosti, društveno odgovornim poslovanjem i zaštite životne sredine. Nekada su ostvarena visina profita i tržišnog udjela bili jedino mjerilo uspješnosti poslovanja i dobre pozicije poduzeća na tržištu. Međutim u današnje se vrijeme od poduzeća traži ekološka i socijalna osviještenost što se smatra osnovnim problemom modernog kapitalizma. U skladu s navedenim cilj istraživanja u ovom radu bio je dobiti saznanja pridaju li i u kolikoj mjeri Hrvatska poduzeća važnost socijalnoj osjetljivosti prema svojim zaposlenicima te koliko su izdavanja za socijalna prava radnika povezana sa ostvarivanjem neto profitne marže poduzeća. Istraživanje je provedeno na uzorku od 53 poduzeća koja su registrirana i posluju na području Republike Hrvatske. Empirijskim istraživanjem primjenom matematičkih i statističkih metoda (korelacije i regresije) došlo se do zaključka kako su poduzeća svjesna važnosti socijalne osjetljivosti prema svojim zaposlenicima te takvu poslovnu politiku implementiraju u svoje poslovne strategije. Međutim, došlo se do saznanja kako poduzeća iz promatranog uzorka u dovoljnoj mjeri ne financiraju socijalna prava svojih zaposlenika. Postoji pozitivna linearna povezanost s ostvarivanjem neto profitne marže, dok je koeficijent korelacije izrazito mali.
From a long-term perspective, modern capitalism does not only require companies to profit as much as possible, but is increasingly paying attention to the social and environmental problems of ...business. It refers to meeting the social and environmental needs of the wider community. Climate change affecting the extinction of biological species has a major impact on human life and the global economic crisis, which increasingly requires corporations to care about global environmental impact and bio-sustainability, which requires strengthening corporate responsibility with increasing attention to social and environmental problem. The main objective of this paper is to examine the representation of the CSR strategy in small and medium-sized enterprises in the Republic of Croatia, looking through the economic, social and environmental dimensions. An analysis of the application of the existing level of socially responsible business was made, as well as a comparison of the levels of implementation of the social and environmental dimension in the observed SMEs. The empirical research in this paper concludes that the sample SMEs are oriented towards the operational and financial aspects of business, while at the same time adopting business strategies across all three dimensions of CSR.
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