Managerial Perception And Social Responsibilities Of Firms
In the realm of managerial perception and social responsibilities of firms, the dynamics are intricate and demand astute navigation. Managers play a pivotal role in shaping the ethical stance and societal contributions of their organizations. Their perception of corporate social responsibility (CSR) significantly influences decision-making processes, reflecting a delicate balance between profit motives and societal well-being. Firms, cognizant of their role in the larger societal fabric, are increasingly incorporating ethical considerations into their strategies. This shift underscores a growing awareness of the interconnectedness between business activities and their broader impact on communities. Navigating these complexities requires managers to possess a nuanced understanding of societal expectations, regulatory frameworks, and the ethical dimensions of business operations. Striking a harmonious balance between economic objectives and social responsibilities is crucial for fostering sustainable and socially conscious business practices, ensuring that firms not only thrive in the market but also contribute positively to the communities they operate in.
An intention to carryout a research work on this topic “Managerial perception and social responsibilities for Nigeria Firms”, A case study of Zodiac Hotels Ltd Enugu.
The purpose of this research is to examine social responsibility performance by Nigeria firms. To evaluate the usefulness and adequacy of existing method of firms. To suggest measures aiming at achieving optimal social responsibility performance for Nigeria firms so as to ensure smooth and uninterrupted operations. To identify major shortcoming of non – performance of social responsibility.
In other to realize the purpose of this research study, the researcher will use primary and secondary sources of data. The primary source of data will include: questionnaires and observation. The secondary data will include the use of libraries, textbooks by authors in the field of Business Management.
The significance of the study, this study will be of benefit to both public and private business organization to determine the impact of social responsibility in the area of business operation. Also, to determine the extent social responsibility affects profitability and conducive environment for carring out of business.
The study will equally throw to light various short coming associate with non – performance of business social responsibility. Through this research, business organization will adopt measures aiming at enhancing their social responsibility. Some of the things that will limit this research is time and financial problems.
In this project attempt was made of evaluate the performance of social responsibility of Nigeria firm in effort to satisfy the demand of host community towards provision of basic amenities. Also managers attitudes towards performance of social responsibilities is also analyzed. We pen scoped the short coming of social responsibilities performance which led to the establishment of the objectives of the study which included the identification of factors limitating the performance of social responsibility by managers, evaluation of the factors and the suggestion of the policy measures that will eliminate these factors to enhance the performance of social reasonability.
In order to arrive at conclusive decision on the above objectives, primary data where collected through field survey and questionnaires to members of the communities and members of the organization in Enugu metropolis.
Literature Review was undertaken in libraries within Nigeria. The data obtained were presented in cross – tabulation and percentages for analysis based on the data. The hypothesis formulated by the researcher were tested using chi – square and logical deductions.
After careful analysis it was discovered that policies are not clearly stated as it relates to corporate social responsibility. Relationship between the host community and the company is cordial. There is a close relationship between company performance and social responsibility.
Finally, if there is conflict between the company and the host community, it is usually resolved through dialogue.
Recommendation was made of social responsibility.
TITLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOWLEDGEMENT
ABSTRACT
TABLE OF CONTENT
CHAPTER ONE
1.0 INTRODUCTION
1.1 Statement of problems
1.2 Purpose of the study
1.3 Significance of the study
1.4 Statement of hypothesis
1.5 Scope of the study
1.6 Limitations of the study
1.7 Definition of terms
CHAPTER TWO
2.0 REVIEW OF RELATED LITERATURE
2.1 Definitions.
2.2 Functions
2.3 Arguments for social responsibility
2.4 Arguments against social responsibility
2.5 Requirements of a social responsible company
2.6 Temporary issue in corporate social responsibility
2.7 Actions necessary to affect social responsibility
2.8 Reasons for social responsibility
2.9 The role of business in the society
2.10 Business and social responsibility
2.11 An evaluation of the “PROS” and “CONS” of social responsibility
CHAPTER THREE
3.0 Research Design and Methodology
3.1 Sources of data
3.2 Sample used
3.3 Sample size determination
CHAPTER FOUR
4.0 Data presentation and analysis
4.1 Data presentation and analysis
4.2 Test of hypothesis
CHAPTER FIVE
5.0 Summary of findings, Conclusion and recommendation
5.1 Findings
5.2 Conclusions
5.3 Recommendation
Bibliography
1.0 INTRODUCTION
The concept of social responsibility is perhaps the most current ideology in business management. In recent years management practitioners, industrialists and special interest groups have engaged in considerable debate over the issue of social responsibility.
The mass of articles, paper lectures and results of research conducted within the past decade of this era indicated the importance of social responsibility in our modern society.
Profit is traditionally believed to be the main motive behind the establishment of most business concerns except such humanitarian organization such as the churches and the schools. However, this research work will concern itself with the profit making business entity.
Therefore, we must agree that the intention of those businesses is to recoup any fund committed or invented and what actually motivates the entrepreneurs are the profit they make on the funds so invented.
Sometimes business social responsibility gets in the way of business’s fundamental goal, which is making profit and while trying to do justice to both, business can run into problems that affect us all. For instance, compliance with many of the government regulations aimed at controlling environmental pollution requires the installation of special equipment. Such additions can be costly and may force a firm to raise its prices or lower the overall quality of its products. When prices are raised, everyone notices it and many people complain about them. On the other hand, changes in quality are easier to gloss over, so it is not uncommon these days for a business to lower quality in order to keep the same selling price, on the theory that “what buyers don’t know won’t hurt them” in some cases, a manufacturer will raise prices and lower quality at the same time.
The singular profit motive has made the entrepreneur to exploit the environment where they operate to the extent that the communities now become restive which in most cases ends into demonstration and work stoppages, which also affects the profit of these companies. This development them promoted researchers and management scholars and some welfare economist to make series of studies, after which they submitted that the primary objectives of a business concern need not profit only, but that business should be made in relation to their environment and also to be seen to be responsive to compensate environment exploitation.
The idea of exploitation by business organization is fast becoming unpopular as communities are becoming conscious of their right. Thus, Drunker (1956) formally propounded the concept of social responsibility in business. He argued that any business that is not socially alive to its environment is bond to experience conflicts, lower profit and it’s not expected to live long.
Having briefly discussed what social responsibility of companies is, it becomes important at this stage to mention that the main points of this research work will be on the social responsibility of business concerns to their host communities as a managerial perceptions and practice of corporate social responsibility with special focus on Zodiac Hotels Ltd. And her host community.
1.1 STATEMENT OF PROBLEM
Business organization is economic agents that have certain objective. Primary among them is profit, but however, this primary objectives might not materialize as a result of increasing hostile nature of the host communities, which is as a result of perceived neglect either real or imaginary by the companies concerned. The hostile nature of these communities have forced the companies to combine both their primary objectives of profit making with social responsibility, which is faced with such problems:
i. Performing procedure of social responsibility service.
ii. Determining the extent of corporate social responsibility
iii. Reporting of corporate social activities
iv. Should managers be responsible for solving all manners of social problems?
1.2 PURPOSE OF THE STUDY
The role of social responsibility in corporate performance cannot be over emphasized. It is very clear from the problem that business organization requires an articulated corporate social responsibility in the course of their operation for survival in the light of the above. Our objectives or purpose for this research shall include:
a. To critically examine social responsibility performance by Zodiac Hotel Limited in the area of operation.
b. To evaluate the usefulness and adequacy of existing method of social responsibility performance of Zodiac Hotel Ltd. Enugu.
c. To identify major shortcoming and assess the impact of non – performance of social responsibility in zodiac.
d. To suggest measures aimed at achieving optimal social responsibility performance for Zodiac Hotel Limited so as to ensure smooth and uninterrupted operations.
1.3 SIGNIFICANCE OF THE STUDY
The study is very timely, especially today that many business organizations are faced with the issue of social responsibility. This study will be of immense benefit to both public and private business organization to determine the impact of social responsibility in the area of business operation. Also, to determine the extent business social responsibility affects profitability and conducive environment for carrying out of business. In addition, the study will equally throw to light various short coming associated with non – performance of business social responsibility such as low productivity, conflicts, unconducive or suitable environment and low market for the organizational product. It is expected that the findings will help to bridge any gap that may exist and to make these business enterprises more effective in carrying out social responsibility to their host communities. Through this investigation therefore, business organization will subsequently adopt measures aim at enhancing their social responsibility effectively.
1.4 STATEMENT OF HYPOTHESIS
The following hypothesis will be used in this study:
Hi: Social responsibility performance has enhanced operational efficiency of Zodiac Hotel.
Ho: Social responsibility performance has not enhance operational efficiency of Zodiac Hotels.
Hi: Adequate performance of social responsibility has minimized the rate of conflicts between host community and company.
Ho: Adequate performance of social responsibility has not minimized the rate of conflicts between host community and company.
1.5 SCOPE OF THE STUDY
The area to be covered in terms of this topic social responsibility will include: examining the performance of social responsibility by Zodiac Hotels Limited to her host community.
Critical analysis of argument for and against social responsibility, requirement of a social responsible company, contemporary issues in corporate social responsibility, actions necessary to affect social responsibility, the role of business in society, business and social responsibility, an evaluation of the “pros” and “Cons” of social responsibility. The study will be carried out in Enugu 5.7 Rangers Avenue Independence Layout Enugu. The study is a case study of Zodiac Hotel Limited.
1.6 LIMITATIONS OF THE STUDY
To carry out any research work is not easy, they all have their several and specific problems gathering relevant data. There were also the problem of time and financial constraint. It must be noted that in spite of these problems the research work must be carried out as its essence is to highlight the institution (Zodiac Hotels Ltd) critically and also provided a careful appraisal of the corporate social responsibility so that at the end sound body of knowledge that will be useful has been provided. The study is a starting block for further research.
1.7 DEFINITION OF TERMS
PERCEPTION – ability to see, hear or understand.
MANAGEMENT PRACTITIONER – Those engaged in management profession
EXPLOITATION – Expoliting or being exploited
CONFLICT – Struggle, serious disagreement
SHARE PROJECT MATERIALS ON:
Managerial perception of social responsibilities refers to how managers and leaders within a company perceive and understand their organization’s obligations and duties towards society and the broader community beyond just maximizing profits. This perception influences the decisions and actions taken by the company in relation to various social, environmental, and ethical issues.
Social responsibilities of firms encompass the idea that businesses should not only focus on generating profits but also take into consideration the impact of their operations on various stakeholders, including employees, customers, communities, and the environment. This concept includes:
- Corporate Social Responsibility (CSR): This involves a company’s commitment to operate in an economically, socially, and environmentally sustainable manner. CSR initiatives can include philanthropy, ethical business practices, environmental sustainability, and community engagement.
- Stakeholder Management: Firms are increasingly recognizing the importance of identifying and managing their stakeholders effectively. These stakeholders can include employees, customers, suppliers, shareholders, government bodies, local communities, and more. Managing these relationships responsibly can contribute to long-term business success.
- Ethical Business Practices: Firms are expected to conduct their operations with honesty, integrity, and fairness. This includes avoiding actions that could harm consumers, employees, or the environment, as well as being transparent about business practices.
- Environmental Sustainability: Companies are expected to consider the environmental impact of their operations and adopt practices that minimize harm to the environment. This might involve reducing carbon emissions, conserving resources, and adopting eco-friendly manufacturing processes.
- Diversity and Inclusion: Firms are increasingly being held accountable for promoting diversity and inclusion within their workforce. This involves ensuring equal opportunities for employees from diverse backgrounds and avoiding discrimination.
- Community Engagement: Companies can contribute positively to the communities in which they operate by supporting local initiatives, providing jobs, and contributing to social development projects.
Managerial perception of these social responsibilities can vary widely based on factors such as company culture, industry norms, personal values of managers, and prevailing societal attitudes. Some managers might view these responsibilities as essential components of their business strategy, believing that responsible practices can enhance reputation and long-term profitability. Others might perceive these responsibilities as secondary to the primary goal of profit maximization.
In recent years, there has been a growing trend towards greater emphasis on social responsibilities, driven by increased public awareness, consumer preferences, and investor demands for ethical and sustainable business practices. As a result, many companies are integrating social responsibility considerations into their core business strategies and decision-making processes.