CSR and strategic management in a large Hungarian company operating in a monopolistic market

Abstract

AIM OF THE PAPER

This study is designed to provide scientific results on relationship of CSR activities and corporate strategy based on examining of processes at Szerencsejáték Zrt, which is an industry-leading, domestic, state-owned monopoly gaming operator.

METHODOLOGY

In the frame of this study the results of previous researches on this subject have been re-analyzed under an approach of a meta-analysis. As for the used methodology of this study we have examined documents and operational processes and conducted expert interviews at the Company.

MOST IMPORTANT RESULTS

This study focuses not on the top leaders aspects of this issue, but on the operational and practical process of the CSR issues. Several preliminary hypotheses have been disproved, as a main research-result, we have found in the case of Szerencsejatek Zrt. a well-structured business strategy that is properly supported by CSR activities achieving business goals, while not only the state-level stakeholders but needs of consumers, competitors and internal stakeholders also have the impact on development and implementation of strategy processes at the Company. Our study underline, there is a significant added value as organizations assess their own CSR performance in a continuously measured and structured way, compared to leading companies operation of same industry, performing best practices. We identified, that professional approach based organizational differences has highly proven demand for involving of external consultants into creative strategy crafting and implementation to integrate CSR management tools, so that corporate performance will be consistent to key-stakeholder expectations and responsible aspects, as well.

RECOMMENDATIONS

Reflecting of the complexity of this management issue we highlight, there is an urgent need to apply quantified, weighted objective evaluation model to serve as an exact description on CSR performance of domestic and international comparability and time-related dynamic changes.