Understanding Social Responsibility in Portuguese Companies: Characteristics, Innovations, and Stakeholder Perspectives

Abstract

Social responsibility has emerged as a crucial topic in the corporate landscape, recognized by market perception as a valuable asset for gaining a competitive advantage. This voluntary initiative by companies is driven by social and ethical engagement, leading management to seek shared values and positive interactions with stakeholders. This study aims to identify the characteristics of companies adopting social practices and evaluate innovative social responsibility practices in Portuguese companies. Furthermore, it explores the understanding of social responsibility among companies and stakeholders, examines motivations behind employing these practices, analyses the benefits of their inclusion, and identifies the main challenges hindering their implementation. Data were collected through questionnaires administered via the Google Forms platform. The findings reveal that most respondents consider social responsibility relevant to the company's growth and development, placing emphasis on human capital as a vital organizational asset. Motivations primarily revolve around worker welfare and satisfaction. Key benefits include proactive positioning, strategic integration, and decision-making incorporating social concerns. Major obstacles include the absence of direct profitability, resistance from older employees, limited resources and time for action and innovation, lack of participation, employee mistrust, and inert mindsets. The article concludes by discussing limitations and suggesting avenues for future research