The role of public authorities in the development of socially responsible management: assessment of the current state and new approaches

The research is aimed at assessing the current state of influence of public authorities on the development of socially responsible business, including through the formation and implementation of various state policies, as well as providing proposals and recommendations for improving the mechanism of relevant decision-making. At present, Ukraine lacks a unified vision of socially responsible business development, in particular, due to the lack of a full-fledged and effective state policy in this area, which blocks the solution of this problem. However, this can be partly explained by the fact that the principles of socially responsible business behaviour are cross-cutting and are part of various government policies implemented by the authorised authorities. The article analyses the activities of more than 20 state institutions, including central executive authorities, which formulate and/or implement certain state policies and which have (may have) an impact on the development of socially responsible business (both direct and indirect). It is stated that a significant number of central executive authorities formulate and implement state policies affecting the activities of business entities and may be related to stimulating business to behave socially responsible, which will further create the preconditions for the establishment and development of the relevant business environment. It is emphasised that most state policies are developed at the level of a central executive body, which leads to a narrow (sectoral) approach, while the development of socially responsible business requires inter-industry, inter-agency and inter-sectoral solutions. In order to ensure overall coordination between various authorities, as well as the business community and the public, the author substantiates the expediency of establishing an interagency (inter-sectoral) working group on the development of socially responsible business (socially responsible management) as a temporary advisory body under the First Vice Prime Minister of Ukraine - Minister of Economy of Ukraine or under the Ministry of Economy of Ukraine.