AN INNOVATIVE APPROACH TO BUILDING AND DEVELOPMENT OF BRAND EQUITY BY IMPLEMENTING CORPORATE SOCIAL RESPONSIBILITY

Corporate social responsibility (CSR) represents an important issue, which can be considered from different points of view. There are many researches which tried to answer basic question, but raised new ones instead. Nowadays, one of the most important issues deals with the relationship between CSR activities and results of the company. Still we lack the proof of a CSR impact on company profits, as there is not any reference point to which we could compare the results of any analyses. Another problem is that profits are usually analyzed on an annual basis, whereas CSR is of a long-time nature. As brand equity is also of a long -time nature, it can be used as a metric for evaluating CSR strategies and politics. Thus, CSR can be considered as a new source of brand equity.