VolWest Group Investment Group presented a report on its activities in the field of corporate social responsibility for 2016.
The investment group has been developing corporate social responsibility since its foundation, but for the first time this year it has implemented it in its long-term business development strategy. We have formulated our own mission in this aspect and set a number of goals for implementation in the next few years.
Viktor Korsak, Doctor of Economics, Chairman of the Board of Directors of VolWest Group:
"We are ardent supporters of the statement that corporate social responsibility(CSR) is the responsibility of those who make business decisions to those who are targeted by these decisions, which ensures the continuity of development of both the organization and society.
In our opinion, the "iron law of responsibility", which was formulated by K. Davis in the mid-1960s, the essence of which is that those who do not assume responsibility adequate to their power, will eventually lose this power, should become the main motivation of business when implementing CSR.
Our corporate social responsibility paradigm is based on two key categories-"consistency" and "balance". In our understanding, "consistency" is the satisfaction of today's needs in such a way that they can also be met by future generations. "In our opinion, "balance" is a dynamic balance between solving our commercial problems and meeting the needs of the future. It also addresses the social, economic and environmental needs of the regions where our companies operate."
VolWest Group has identified three main areas of CSR development: economic, social and environmental.
In the economic area, the company helps entrepreneurs succeed in their own business, provides them with a proven business model, advises and trains their future partners, which allows them to become owners of a stable business.
In the social aspect, the investment group promotes a healthy lifestyle, including physical activity, and healthy nutrition, implements its own programs for socially vulnerable segments of the population, and provides support to specialized children's institutions and local organizations that deal with people in need of assistance.
In the environmental aspect, the company cares about the environment for future generations, so it implements programs to reduce environmental pollution and initiates activities aimed at rational use of non-renewable resources, as well as forms a responsible attitude to the environment among all stakeholders and involves them in joint actions.
Corporate social responsibility should benefit both society and business, and work for their common good. The main point when a company accepts the social component as part of its business is that it is necessary to always take it into account in all business processes: in marketing activities, in investing, in introducing new technologies, etc.; and at all stages of planning. Then the business will form relationships around itself based on the principles of trust and loyalty, which will ensure its success, both in the short and long term.
You can read more about the VolWest Group Investment Group's report on corporate social responsibility activities for 2016 here: Ccv_2016_pdf Report
