THE RELEVANCE OF CORPORATE SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)
This research study was based on the relevant of corporate social responsibility (CSR) on organizational performance. The research work concentrated on the background of the study, which showed that there was a need for an economic of responsibility embedded in the business ethics of corporation which restrains individuals and organization from destructive activities on humanity and help redress societal problems, and the objective of the study which was to determine the impact of public social responsibility on organizational performance as well as determine the extent to which CSR promote social and economic development in communities. More so, it considers the concept of corporate social responsibility and it benefits to the organization, community and government.
The survey research design and simple random sampling techniques was used and data collected were derived from questionnaires designed and administered on a sample of eighty three (83) management and staff of first bank of Nigeria plc, which were analyzed using simple percentage and chi-square. The test revealed that corporate social responsibility has a significant impact on organization performance.
In conclusion, the relevant of corporate social responsibility on organizational performance is positive. From the presentation and analysis of data, it was established by the respondents that First Bank of Nigeria Plc has always attached importance to corporate social responsibility and at the same time its managements and staff has adhered strictly to guidelines.
Therefore it is recommended that:
Conduct regular meetings to discuss how to handle ethical issues and improve business and social responsibility in the community. By including diverse interests and perspectives, organizations tend to make effective decisions. Assign roles and responsibilities to specific individuals. This makes them accountable for putting ideas into practice. In this way, corporations contribute to society by both maximizing profit and contributing to social programs, such as donating time and money to charitable organizations.
TABLE OF CONTENT
Title page i
Table of contents vi – viii
1.1 Background of the study 1 – 2
1.2 Statement of problems 2
1.3 Research questions 3
1.4 Purpose of study 3 – 4
1.5 Significance of the study 4
1.6 Research hypothesis 4
1.7 Scope of study 5
1.8 Limitations of study 5
1.9 Definition of terms 5
2.1 Definition of corporate social responsibility 7
2.2 Why do corporation have responsibilities 8
2.3 Types of responsibilities 9 - 10
2.4 Approaches to corporate social responsibility 10 - 12
2.5 Model of corporate social responsibility 13 – 14
2.6 Areas of discharge of social responsibility 14 – 15
2.7 Problems of neglect of corporate social responsibility 15 – 16
2.8 Benefits of corporate social responsibility 16 – 17
2.9 Corporate social responsibility discharge by first bank
of Nigeria plc 18 – 22
2.10 social responsibilities and environment 23
2.11 Corporate social audit 24 – 16
2.12 Procedures when conducting a social audit 16 – 17
2.13 Social and environmental accounting issues 27 –29
2.14 Environment management accounting and environmental
cost accounting 29 - 30
2.15 Social accounting 30 – 31
2.16 . Developments in social and environmental framework 31 – 32
2.17 Minimizing the threats to social costs and liabilities 32 – 33
2.18 Social and environmental failures 33 – 34
2.19 Investigative reports and professionalism 34 – 35
2.20 Learning with and managing professional responsibilities through
case studies 35 – 36
Reference 37 - 38
3.1 Introduction 39
3.2 Research design 39 - 40
3.3 Population of the study 40
3.4 Sample and sampling technique 40
3.5 Method of data collection 41
3.6 Research instrument 42
3.7 Validity of the instrument 42
3.8 Reliability of Research instrument 43
3.9 Procedures for the analysis of data 43 – 44
DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1 Introduction 46
4.2 Data collection and presentation 46 - 52
4.3 Interpretation of data analysis 52 – 54
4.4 Testing of hypotheses 55 – 56
4.5 Interpretation of result 57
SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 59 – 61
5.2 Conclusion 61 – 62
5.3 Recommendations 62 – 63
5.4 Recommendation for future research 63
Bibliography 64 – 66
Corporate social responsibility which is also known as corporate citizenship. Corporate responsibility or corporate social performance is a form of corporate self – regulation which is integrated into a business model
Corporate social responsibility trends to operate as built-in, self-regulating mechanisms under which a business will monitor and ensure it compliance with law, international norms and ethical prescription. A business or company assumes responsibility for the impact of activities on the environment, employees, consumer communities and other members of the public. In addition, a business has to proactively promote the interest of the public through voluntarily avoiding activities which are harmful, regardless of legality.
Furthermore, business exercises extensive influence on our social and economic life styles. As social institution it is responsible to deliver a standard of living and maximizes life quality. Today, life quality means not only quality and quantity of consumer goods and services but also enriched quality of the life in the society and the environment.
There is also the demand for the social responsiveness of corporate organization, which means the ability and preparedness of the organization to relate they plan and policies to the social environment in mutually beneficial ways to eth organization and the society.
Business are expected to behave in socially beneficial ways particularly in relation to the physical environment, product, quality, of employee’s working life and removal of unfair discrimination in living and firing staff.
1.2 STATEMENT OF THE PROBLEM
This research work is carried out to understand the relevant of corporate social responsibility on organization performance; the problem that triggered this study includes:
Inadequate enlightenment on the need for and purpose of corporate social responsibility on organization performance.
1.3 RESEARCH QUESTIONS
Of what importance is corporate social responsibility What are the statutory duties of management in relation to corporate social responsibility? Does a corporate organization activity have impact on communities, the environment and society as a whole? Does corporate social responsibility help corporate organization to succeed? Does corporate social responsibility increase profit? Does corporate organization have to be force to be socially responsible?
1.4 PURPOSE OF THE STUDY
To identify the factors that weakens the corporate social responsibility of an corporate organization. To find out if corporate organization has to be social responsible after paying tax. Is it compulsory for corporate organization to be corporate socially responsible? To examine the effect of corporate social responsibility on the organization performance. To examine critically the corporate social responsibility perform by First Bank of Nigeria Plc.
1.5 SIGNIFICANCE OF THE STUDY
This study is of great importance to students, business organizations, consultants and the entire society. It will educate the in management of First Bank of Nigeria plc on the importance of corporate social responsibility and it role in achieving a better organizational image.
Furthermore, it will establish the various ways of ensuring effectiveness of corporate social responsibility.
1.6 RESEARCH HYPOTHESIS
Ho: Corporate social responsibility does not have a significant impact on organization performance.
Hi: Corporate social responsibilities have a significant impact on organization performance.
1.7 SCOPE OF THE STUDY
The scope of study is limited to the case study, though the result will be generalized. The questionnaire will be administered to the members of staff of First Bank of Nigerian Plc.
1.8 LIMITATIONS OF THE STUDY
The availability of fund and time is very limited in carrying out this research work to a standard that will put a final pay on the issue.
Just to mention, that in this country of ours money companies are reluctant to divulge information about their for the fear of intrusion, insecurity and the unhealthy competition they may pace.
1.9 DEFINITION OF TERM
Responsibility: The state, pact or position of being accountable to somebody or for something.
Norms: standard pattern of behaviour
Environment: We means activities outside business firm which hinder or facilitate the achievement of the objective of such a business venture.
Asika, N. (1991): Research Methodology in the Behavioral Sciences, Ibadan: Longman Nigeria Plc. Bowen H.R (1953) Social Responsibility of businessman, New York:
Harper and Raw publisher Inc.
Bochholz. R (1991)Corporate Responsibility and Good Society from
Economy to Ecology Business Horizon.
Institute of chartered accountants of Nigeria study Pack. Financial Reporting and ethics. Chapter 12 Wikipedia, the free Encyclopedia, Corporate Social Responsibilities and Its Approaches, Accessed on 7 September 2010..