Social responsibility in the context of technological transformations

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Abstract

The paper starts with a discussion of today’s trend of responsibility, its origin, and reasonability. Further, the advantages of social responsibility are presented. Then, the advantages and risks of current technological transformations are highlighted. Provided explanation of risks of technological transformation and their nature. Different visions on addressing such risks and the respective reactions of humanity are described. Inter alia, approaches to corporate digital responsibility and trends in regulation are discussed. Presented the main trends for regulation of digital responsibility. As a result, the conclusion of the insufficiency of reactive management and the necessity of proactive actions for preventing risks to address all significant risks of technological transformation is made. Provided expectations about the growing role of institutional funds in such preventive management.

Author Biographies

  • Volodymyr Rodchenko, School of Business, V. N. Karazin Kharkiv National University

    Doctor of Economics, Professor, Director of the Karazin School of Business, V. N. Karazin Kharkiv National University

  • Vladyslav Ikonnykov, Karazin School of Business, V. N. Karazin Kharkiv National University

    Doctor of Philosophy degree candidate, Department of Management and Administration, Karazin School of Business, V. N. Karazin Kharkiv National University