Abstract:
This article is devoted to looking at innovations from the perspective of
Transaction Cost Economics (TCE) and Corporate Social Responsibility
(CSR). In analyzing the substance of the theory the author intends to show
the potential challenges that will create socially responsible innovation,
especially in combination with transaction costs arising from the need to
build relationships with stakeholders. The author puts forward a number
of proposals in an attempt to integrate presented solutions indicating the
objective of the development and implementation of responsible innovation in
modern organizations.