Fair Business Policy

The basic condition of a socially responsible business is the implementation of fair business practices of corporations regarding the main groups of stakeholders. On the one hand, this practice assumes the timely fulfillment of tax obligations in full, directly influences the formation of the revenue part of the budget, the financing of state social programs. On the other hand, it assumes transparency of business operations, including disclosure of information on financial and social issues and verification of relevant reports by independent auditing companies, which, in turn, contributes to a gradual decrease in the level of the black economy in the country and overcome the budget deficit.

Nowadays, the economy has tools for socialization, in particular, mechanisms of social partnership, formation of human capital, corporate social responsibility, etc. Among modern tools that simultaneously are practical tools for enhance the efficiency of activities and areas of social activity, the mechanism for introducing fair business practice in corporate activity. Despite the fact that good business practice is recognized as a component of corporate social responsibility, it leads among the practices of social activities in general. This is due to the specific set of measures that form it, and their exceptional relevance.

The theoretical developments of scientists from this field are based on studies of the analysis of human development, corporate management and the social role of corporations in human life, and such the content analysis performed by the authors allows to define a scientific problem and identify research hypothesis.

Modern scientific concepts of development of corporate social responsibility and fair business practices are based on the recognition of common human values and becoming of priorities of human development in the moral system of coordinates of society in comparison with technological development, accumulation of wealth and stratification of society. The paradigm of humanistic development of mankind has become a single methodology for the development of social relations. This paradigm forms the general methodological approaches to the scientific knowledge of phenomena in the field of socio-economic research.