Comparative Analysis of Social Responsibility of Business in Kazakhstan and Developed Countries

Corporate social responsibility of business is a crucial component both for increasing its competitive advantages and for achieving sustainable development goals. In this regard, the study of the principles of social responsibility among different companies is relevant. Thus, the study aims to investigate the reasons for the current pace of development of corporate social responsibility in Kazakhstan. Sociological analysis, as well as elements of economic analysis, comparison of fundamental concepts and modern approaches to the study of corporate social responsibility were used. The study demonstrated that a prerequisite for the long-term and effective functioning of a business is an understanding of the dependence of financial indicators on the company image quality in front of investors, top management, consumers, and the public, which creates the necessary background of trust in a business that can be achieved by using the theory of reasonable corporate egoism in corporate social responsibility practice, as well as the implementation of integrated reporting. Furthermore, the research analysed statistical data that describes the level of corporate social responsibility in Kazakhstan and other countries. Based on the analysis, factors that influence the formation of corporate social responsibility in the country were identified, and practices that can be used in Kazakhstani business practices to improve the situation in the context of corporate social responsibility were described. The results obtained bring new knowledge for understanding the peculiarities of companies’ activities in the context of approaches to corporate social responsibility.