Assessment of efficiency of Russian telecommunications companies' social responsibility

International community demands charitable ventures to demonstrate maximum efficiency on a par with business. This made evaluation of the effectiveness of social investment an urgent issue. Many foreign non-profit organizations develop tools that enable them to select the most successful social projects. For example, in 1990, REDF venture philanthropy fund (Roberts Enterprise Development Fund) suggested the use of SROI methodology (Social Return of Investment).It is universal because it makes it possible to evaluate any economic entity. In 1994, the London Benchmark Group developed its own model for valuation of corporate investment in the local community. All quantitative and qualitative information about the project is arranged into three areas: required resources, immediate results and long-term effect of investments. The Dow Jones index is a popular foreign stock CSR index. The ranking of the most efficient socially-orientated companies is compiled and published based on the calculation of this index. The charitable organization Acumen Fund created the BACO ratio (Best Available Charitable Option). BACO compares the results of several similar projects and selects the best of them. The disadvantage of this ratio for commercial organizations is the lack of information on other similar programs. Foreign community developed a variety of other methods and tools. Some of them are presented in TRASI, an interactive online database. In addition, developed countries (UK, Canada, Singapore, and others) have functioning social stock exchanges. SSE act as intermediaries between investors and socially-oriented companies. This area is poorly developed in Russia. However, the International Academy of Patronage introduced a program in 2008 called "Effective social investment and social partnership". It involves implementation of 101 principles of socially responsible business and its assessment based on four groups of indicators (Care, Involvement, Integrity and Success). The methodology of assessment has the following advantages: 1. Any company can apply the methodology to compare its results with the results of the competitors; 2. All figures are calculated based on the dynamics; However, this methodology also has a disadvantage, which consists in expert evaluation subjectivity. Therefore, an integral evaluation of the effectiveness of socially responsible activities is an alternative to ESISP. This methodology involves calculation of relative indicators of economic, environmental, social and business efficiency. This minimizes the evaluation subjectivity and increases the accuracy of the results. An analysis of the social efficiency of the telecommunications sector showed that they focus on customers, services, and innovation in public sources (social reports and official websites). Indicators of modified methodology ESISP are at the most reflected to 50% in the category "Caring". Therefore, if the telecom sector plans to improve the image of a responsible employer, the companies need to disclose more quantitative information in this field. In addition, the approved methodology requires improvement, that is, introduction of new indicators, such as holding awards in the field of social responsibility to employees. Thus, the considered and proposed measures should help to develop the institution of social investments in Russia, including the establishment of social stock exchange. This can contribute to increasing the quality of life.

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