Corporate Social Responsibility as an intangible asset in the Airline Industry in Central and Eastern Europe

Abstract

The global demand for air transport is increasing inspite of some of the detrimental effects of airline operations on various aspects of society. There is a growing interest in socially responsible investments in and by various industries. Consequently, the implementation of Corporate Social Responsibility (CSR) programs that will ensure environmental and social progress as well as the reputation and performance of firms is significant, especially in the airline industry. Within the business model, addressing environmental and social concerns is no longer seen merely as a response to regulators and policy-makers. Rather it is a proactive financial decision. The dilemma faced by firms in the airline industry is how to engage in CSR in the most cost-effective and profitable ways. The main objective of this research is to analyse CSR as an Intangible Asset in the Airline Industry in Central and Eastern Europe. This research is relevant as it will identify the suitable and effective approaches for managing CSR activities of modern airline businesses. The research provides essential factors for the implementation of CSR so as to meet financial, strategic, operational, ecological, and social goals of a firm.