Corporate social responsibility as a component of sustainable strategic development of foreign economic activity of enterprises

The article substantiates the role of corporate social responsibility in the sustainable strategic development of enterprises’ foreign economic activity. An analysis of approaches to understanding the corporate social responsibility category and the author’s vision is presented. It is proved that implementing the principles of sustainable development and socially responsible initiatives is an integral part of the strategy for the development of foreign economic interaction, contributing to the optimization of the competitive position of enterprises in the global economic environment. The main components of corporate social responsibility in the development of sustainable international business partnerships including socio-economic ethics in fulfilling mutual obligations, support for global initiatives, a high degree of responsibility to consumers, prevention of cultural discrimination, facilitating the sharing of effective practices in planning and organizing international business are highlighted. It analyzes the influence of corporate social responsibility on the development of sustainable strategic relations between entities involved in foreign economic activity. The importance of the role of global initiatives and institutions, such as the UN Global Compact, the Corporate Sustainability Reporting Directive, and the activities of CSR Europe and the World Business Council for Sustainable Development in shaping the strategy of socially responsible international business is emphasized. It is substantiated the directions to optimize the corporate social responsibility components in the process of strategic development of foreign economic activity of enterprises, among which are, in particular, the implementation of environmentally significant initiatives in the field of using safe technologies for the production of export products and international transport and logistics cooperation, improvement of ethical aspects of foreign economic cooperation, use of socially responsible practices in collaboration with local communities in the countries of opening a new business. Keywords: corporate social responsibility, strategic development, foreign economic activity of the enterprise, sustainable development goals, socially responsible business partnership.