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THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY
ON THE PERFORMANCE OF AN ORGANIZATION
CHAPTER ONE
INTRODUCTION
1.1. BACKGROUND OF THE STUDY
Corporate social responsibility is one vital
aspect of any business. However, this is one area where grievous mistakes have
been made. Companies need to understand the subject its concept, theories as
well as the benefits there of.
In today’s business environment, business
organization are being expected to assume broader and more diverse
responsibilities to the various groups within the society in Nigeria., various
communities in which some major companies are operating have been demanding for
one thing or the other especially in riverine area such as River state asking
oil companies in conjunction with (NNPC) Nigeria National Petroleum Corporation
to provide drinkable water, giving scholarship to their children, building
hospitals, more schools and given them compensation due to the damage cause on
their farmland.
Business firms not being socially responsible,
infact lead youths of the communities to agitate for their right such is the
case of the riverine areas. There is no doubt that there is an increasing
amount of attention directed to social responsibilities in business firms.
Corporate social responsibility is the sense
of obligation on the part of the organization to build certain social concern
and criteria into their strategic decision making process. EVBOROKGHAI (2003).
Social responsibility by Andrews (1971) is the
intelligent and objective concern for the welfare of the society that restrains
individual and corporate behaviour from ultimately destructive activities, no
matter how immediately profitable, and leads to the direction of positive
contributions to human betterment, variously as the latter may be defined. The
concept implies that when companies evaluate decisions from an ethical
perspective there should be a presumption in favour of adopting courses of
action that enhance the welfare of society at large. The point stressed in
these definition is that when making decisions, business men or organizations
should consider the social interest of people in society. These among other
reasons probe the researcher to embark on this research work.
1.2
STATEMENT OF THE PROBLEM
Access Bank Plc, is a very reputable
organization whose services is a visible friend in almost every home in the
society, but do not have a defined policy on social responsibility.
Base on the above, many companies use the
strategy of benchmarking to compete within their respective industries in
corporate social responsibility policy, implementation and effectiveness.
Bench marking involves reviewing corporate
social responsibility initiatives, as well as measuring and evaluating the
impact that those policies have on society and the environment and how
costumers perceive corporate social responsibility strategy.
After a comprehensive study and an internal
policy review performed, a comparison can be drawn.
1.3
OBJECTIVES OF THE STUDY
The objective of the study is to look into the
impact of corporate social responsibilities on the performance of business
organizations and they include:-
To examine social responsibility between/among
business organizations, government and its agencies, stakeholders and the
society at large.
To examine the impact of corporate social
responsibility on the performance of business organization
To find out new areas in which business
organizations can engage so as to strengthen its relationship among various
stakeholders that make up the society.
To find out how business organization
contribute to national development through charity donations in times of
disasters, obedience and respect for governmental laws and policies, partnering
with government financially in ensuring a healthy and vigorous economy.
1.4
SIGNIFICANCE OF THE STUDY
The study intends to present the under listed
significance of the study as:
The research work seeks to create awareness on
the need to engage in social responsibility in banking sector
Also, it seeks to bring into limelight how
newly established organizations can use the concept of corporate social
responsibility to capitalize on opportunities in their business environment.
The project would also be useful for scholars
in the field of business administration and others to understand the basic
concept on the area of social responsibility
1.5
RESEARCH QUESTIONS
What are the new areas in which business
organizations can engage so as to strengthen its relationship among various
stakeholders that make up the society?
What are the impact of corporate social
responsibility on the performance of Access Bank Plc?
What extent have corporate social
responsibility impacted positively among/between business organizations?
What are the contributions of social
responsibility to the national development in ensuring healthy and vigorous
economy?
1.6 SCOPE OF THE STUDY
The scope of the study will center on the
impact of corporate social responsibility on the performance of Access bank plc
with special reference to Kaduna Central Market Branch office, Ibrahim Taiwo
Road, to examine the nature, size and breath of activity in business
organizations. Social responsibility of business encompasses the economic,
legal, ethical and discreational expectations that society has on organizations
from 2006 to 2011.
1.7
LIMITATION OF THE STUDY
Some of the available constraint faced by the
researcher are presented below:
Time constraint: To do adequate justice, the
duration allowed for the completion and submission of this research work is
very limited, not to talk about other school activities such as coping with
lectures, tests schedules and most of all researching for assignment and the
project work at hand.
Financial constraints: The work is really
tasking and in my financial capacity as a student it is not easy to meet up
with.
Sourcing for adequate and relevant information
cover the research is not encouraging as the respondent where not cooperating.
1.8
DEFINITION OF TERMS
Various literary terms that sharpen the write
up will be examined and defined as follows:
Ethics = Ethics according to Grace and Cohen
(2005) includes standards of moral behaviour that is, behaviours that are
acceptable by the society.
Consumerism = organized effect by individuals
or groups aimed to project the users of various products and service from
harmful or deceptive business practices Grace and Cohen (2005).
Corporate social responsibility = according to
Ronald and Ricky (1999) it is an attempt by business organizations to balance
their commitment towards groups and individuals in it business environment.
Social responsibility = according to Weihrich
and Koontz (1994), it is the ability of an organization to relates its
operations and policies to the environment in such ways that are mutually
beneficial to the company and the society.
Social audit = according to Ronald and Ricky
(1999) it is commitment to systematic
assessment of reporting on some meaningful and definable domain of the
company’s activities that have social impact.
Corporate philanthropy = according to Michael
E porter (1997), as a practical sympathy and benevolence shown by a business
organization to various sectors of the society.
Shareholders =
according to Kenning (1998), the include interest groups that are tangible,
visible and approachable groups or institutions which can exercise direct
influence in the functioning or affairs
of an organization
1.9
HISTORICAL BACKGROUND OF THE CASE STUDY
Access bank plc commences operation in 24th
march 1998 as one of the measures taken by the bank to spread it’s operations
to the doorstep of the people.
Further to the approval of the shareholders of
Access bank plc and intercontinental bank plc, the central bank of Nigeria and
the securities and exchange commission announce the completion of the
re-capitalization of intercontinental bank and the acquisition of 75% majority
interest in the bank by Access bank plc. Effective 14th October 2011, intercontinental bank plc
(including all its assets, liabilities and undertakings) became a subsidiary of
Access bank plc.
Emphasis was placed on the fact that there was
need for financial services. Prior to the opening of the branch, its officials
embarked on mass continues awareness programme to sensitize the environs
Access bank plc takes corporate social
responsibility seriously. It leads the business community by its efforts at
promoting the doctrines of responsible corporate citizenship through initiative
and programmes. That address economic, social and environmental challenges.
Essential, the driving philosophy and objective of the bank’s corporate social
responsibility are to affect lives of citizens and spur sustainable economic
development in the societies the operate in.
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