CSR 4.0 Dimensions in Relation to the Advantages of Industry 4.0

Abstract

We can speak of CSR 4.0 only when the companies that are part of the field of Industry 4.0, exceed the economic expectations (the company expects a company to produce goods and services to sell and make a profit), legal expectations (the company expects a company to respect the law), ethical expectations (types of behaviors and ethical norms that the society expects to be observed) and voluntary activities such as philanthropic contributions. To properly understand the concept of Industry 4.0, we should compare this specific industrial revolution with previous technological breakthroughs. The purpose of this study is to analyze the way in which managers in Romania perceive the system of corporate social responsibility of companies (CSR 4.0) in accordance with the new concept of Industry 4.0. We resorted to the approach of a statistical-mathematical analysis of quantitative type for data collection, using the questionnaire as a research tool. In the stage of processing and analyzing the collected data, we used the special statistical research software SPSS. The main findings obtained from the research study highlighted the fact that there is a causal correlation between the manifestation dimensions of CSR 4.0 and the advantages of Industry 4.0. The originality and significance of the findings consist in identifying the following correlations: economic dimension (CSR 4.0), cost dimension (Industry 4.0), moral dimension (CSR 4.0), time dimension (Industry 4.0), sociological dimension (CSR 4.0), flexibility dimension (Industry 4.0), political dimension (CSR 4.0) and the integration advantage (Industry 4.0).

Citation

Băndoi, A., Sitnikov, C., Tănasie, A. and Riza, I. (2022), "CSR 4.0 Dimensions in Relation to the Advantages of Industry 4.0", Grima, S., Özen, E. and Gonzi, R.E.D. (Ed.) Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems: Decision and Control Allocations within New Domains of Risk (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 257-275. https://doi.org/10.1108/978-1-80117-139-720211012