Abstract

The aim of the article. The author substantiates the concept of social responsibility of business entities with allocation on the responsibility to staff, customers and society as a whole as well as the need for socially responsible marketing (SRM). It is analyzed the examples and causes of blatant social irresponsibility business entities in the US, EU, Ukraine and others. The results of the analysis. The author’s concept that in any country the establishment of a broad high social responsibility of business entities and their marketing efforts, can only provide the high quality of the country’s economic system and adequate government regulation. It is stressed the need for involvement of public authorities not only in the coordination and management of economic activities, distribution and the redistribution of the social product, but also to the social responsibility of business entities. A trend of significant growth in 2014 compared to 2011 shows the increasing of the number of employees millionaires in the commercial banks of the EU countries. According to the author, this is evidence of a weakening and decline in the quality of state regulation in the bank sphere. Social irresponsibility has become the main cause of two of the Great Depression. At a time when the second Great Depression reached only US and some other countries, there were signs in the EU in relation to the banks again begin to practice innovation «New Economy», including deregulation. Since 2009, the author reiterates conclusion that in countries which economies are not able to provide the appropriate level of government regulation of the economics and its social orientation, the population is doomed to operate socially irresponsible business entities, moral and physical degradation and even extinction. Ukraine and many other countries with market economy, according to the author, should be the quality of economic systems, government regulation can significantly improve faster and enhance social orientation of the economy with the aim of becoming a broad social responsibility of business entities and their marketing activity. In the system of state regulation of the economy, special attention should be given to the banks and the financial market actors. Conclusions and directions of further researches. There are signs that the EU blinded by unbridled pursuit of profit and personal enrichment billionaires and millionaires of these financial market participants have already begun preparations for the Third Great Depression. Although it is still unknown when wil be the outcome of the second.

Keywords: global financial and economic crisis, social responsibility, socially responsible marketing, government regulation, economic system, banks and some financial market actors

JEL Classification: A13, M21, M31.

Cite as: Orlov, P. (2016). Social responsibility of business entities and their marketing in light of the global economic crisis and the state of the main increasing factors. Marketing and Management of Innovations, 3, 41-53. https://doi.org/10.21272/mmi.2016.3-03

This work is licensed under a Creative Commons Attribution 4.0 International License

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