Corporate Social Responsibility (CSR) has become an integral business strategy globally, emphasizing sustainability and benefits to society and the economy. This article examines the factors that influence the implementation of CSR in companies specializing in pharmaceuticals, biomedical products, and medical equipment in Greece.
Objective: The research aimed to identify the motivating and hindering factors affecting CSR adoption in the Greek health technology sector.
Methods: A cross-sectional study was conducted from April to June 2021 among members of the Hellenic Association of Pharmaceutical Companies, the Panhellenic Association of Pharmaceutical Industry, and the Association of Health-Research and Biotechnology Industry. An anonymous, self-administered questionnaire was used for data collection. Descriptive and inferential statistical analyses were performed using SPSS version 25, with a significance level set at p≤0.05.
Results: Out of 112 distributed questionnaires, 87 were returned, marking a 77.7% response rate. Of these, 81.1% of companies included CSR in their annual strategy, but only 32.4% followed Global Reporting Initiative standards. The majority allocated ≤€100.000 of their annual turnover for CSR activities. The primary motivations for CSR were societal contribution and ethical commitment, while bureaucracy and lack of incentives were major deterrents. Pharmaceutical companies emphasized social acceptance, whereas those in medical equipment/biotechnology noted industry competition as a key driver. The study also found that bureaucracy was a significant obstacle for all participants, and corporate advertising was a more substantial motivating factor for international than national companies. Additionally, 97.3% of respondents believed that the government should increase financial incentives for socially responsible companies.
Conclusion: The health technology industry in Greece actively engages in CSR, driven by societal contribution and ethical commitments. However, challenges like bureaucracy and insufficient government incentives hinder broader implementation. Enhancing government support could yield significant benefits for both businesses and society, contributing positively to Greece’s economy.
Introduction: CSR is a growing strategy globally, focusing on sustainable development and providing economic, social, and environmental benefits. It encompasses a wide range of activities, including philanthropy, ethical practices, and environmental sustainability. Companies with high voluntary commitment gain recognition from governments and stakeholders. Despite the push for standardized CSR frameworks, such as the Global Reporting Initiative, participation remains voluntary.
In Greece, recent socio-economic challenges have heightened the role of the health technology industry in the economy. Companies have shown responsibility through donations and support to the National Health System and vulnerable groups during crises. This study sought to understand the factors affecting CSR operations in Greek companies specializing in the health technology sector.
Materials & Methods: The study utilized stratified sampling among companies associated with relevant industry associations. An extensive questionnaire, developed based on international and Greek literature, was distributed to CEOs of selected companies. Statistical analyses were conducted to understand the encouraging and discouraging factors for CSR implementation.
Results: The survey found a high engagement in CSR activities among health technology companies in Greece. The allocation of funds, prioritization of activities, and motivating and hindering factors were detailed. The study also provided insights into the relationship between various factors influencing CSR implementation.
This study provides a comprehensive overview of CSR dynamics within the health technology industry in Greece, highlighting the significance of both encouraging factors and challenges in the implementation of CSR initiatives.
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