Role Of Corporate Social Responsibility In The Development Of The Society
Corporate Social Responsibility (CSR) plays a vital role in fostering the sustainable development of society by integrating social, environmental, and economic concerns into business operations. Through Corporate Social Responsibility initiatives, companies contribute to societal well-being by addressing various challenges such as poverty, inequality, environmental degradation, and inadequate access to education and healthcare. By engaging in philanthropy, promoting ethical labor practices, reducing their environmental footprint, and supporting community development projects, corporations can positively impact the communities in which they operate. Moreover, Corporate Social Responsibility enhances corporate reputation, builds trust with stakeholders, attracts and retains talent, and mitigates risks associated with social and environmental issues. Ultimately, a robust Corporate Social Responsibility strategy not only benefits society but also creates long-term value for businesses by fostering a sustainable and inclusive future.
The known features of the present Nigerian socio-economic situations is that high cost of living, how per-capital income and deterioration of social infrastructural and welfare. This trend caused by hazard and inefficient management of national economy has been in existence since independence. Government efforts in the past have failed to redress this issue. Consequently there is increasing need for business organization in Nigerian environment to help and support government in discharging some of its social obligations.
This study therefore evaluate the corporate social Responsibility programmes/activities to define an appropriate social response for manufacturing enterprises and other business organization. The fundamental objectives of the study is to provide useful guide to the manufacturing enterprises and the government on how to approach the issue of corporate social Responsibility activities.
A manufacturing company was studied, the data for the work that was collected through the use of questionnaire and personal int7erviews, that was substantially designed and administered to the respondent for the company extensive review of existing literature on this subject was also made and relevant information was extracted.
Data collect was presented and analyzed In chapter four using simple percentage analysis one hypothesis was proposed for the study and was statistically tested using chi-square (x2) distribution.
Based o the analysis of the research data finding were made. Recommendations based on the finding were proffered and conclusion drawn, all these are presented in chapter five, it is hope that if the recommendation made are put into practice, it will go a long way towards improving the issue of corporate social Responsibility programmes and activities by business organization.
Title page
Approval page
Dedication
Acknowledgment
Abstract
Table of content
Chapter One
1.0 Introduction
1.1 Background of the study
1.2 Statement of the problem
1.3 Objectives of the study
1.4 Research questions
1.5 Statement of the hypothesis
1.6 Significance of the study
1.7 Scope of the study
1.8 Limitation of the study
1.9 Definition f terms
Chapter Two
2.0 literature Review
2.1 Introduction
2.1.1 Issue on the compact of changing business tech.
2.1.2 The issue on the changing public attitudes
2.2 The case for social responsibility
2.3 Current literature on theories postulated above
2.4 Area of social responsibility
2.5 The Nigerian concept of social responsibility
2.7 Neglect of social responsibility to the environment and evaluating social responsibility
2.8 conclusion
2.9 The case against social responsibility
Chapter Three
3.0 Research deign and methodology
3.1 Introduction
3.2 Research design
3.3 Sources/methods of data collection
3.4 Sampling techniques
3.5 Validity and reliability of measuring instruments
3.6 Method of data analysis
Chapter four
4.0 Presentation and analysis of data
4.1 Introduction
4.2 Analysis of data
4.3 Test of hypothesis
4.4 Interpretation of result
Chapter five
5.0 Summary, conclusion and recommendation
5.1 Introduction
5.2 Summary
5.3 Conclusion
5.4 Recommendation
Appendix
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The concept of the societal marketing known in modern term as corporate social Responsibility is relatively, a new marketing philosophy at least in Nigeria and under-developed works.
The concept of corporate social Responsibility calls for practical support business organization to improve the society.
Corporate social Responsibility should direct attention to the performance of such practical and life improving areas of the society, these demand specific contributions to education, agriculture, provision of social infrastructure and vitas things that can add value or quality to their customers and the immediate environment.
Interestingly, this marketing philosophy demands the business organizations and marketers to make concrete contributions to the protection and presentation of the physical and human environment especially in the societies in which these organizations operates additionally, it involves the promotion arts and culture, rural and national development.
Development is another focal variable in this research development means to grow gradually, more advanced or more organized for any society to be developed, it requires heavy, investments of resources in capital goods which will lead to productive capacity and growth hence improved standard of living. The theory of economic development centre in full employment of both human and physical resources to bring above national development.
Thus, corporate social Responsibility can play a vital and trial role in the development of the society hence national development.
1.2 STATEMENT OF THE PROBLEM
From the above background, the Nigeria society and most specifically Enugu state have many areas of development especially in the rural and semi urban areas.
The high rate of inadequate social amenities and infrastructures in the country and Enugu state in particular cannot be overemphasized. High level of poverty which result to crime rate and insecurity of the society.
United Nations statistic shows that Nigeria is rated as one of the poorest and highest rate of illiterate people or population in Africa and the world. This is why the federal government in conjunction with in United nation has argued in the millennium development goals (MDGs) and to achieve this government cannot do all things along true a clarion call to corporate citizens to join, hands with the government.
In view of these identified problems, there is need to research and evaluate the contribution or corporate society Responsibility of corporate citizens towards national development.
1.3 OBJECTIVE OF THE STUDY
The broad objective of the study is to examine the role played by corporate citizens in National development.
i. To explore the importance of corporate social Responsibility programmes.
ii. To investigate the importance of corporate organizations have been involved in social Responsibility programmes.
iii. To investigate the approach corporate organization has corporate social Responsibility progaremmes.
iv. To explain the reason for failure in the management of corporate social Responsibility programmes.
v. To recommend and more effective ways to successful execution or implementation of corporation social Responsibility programmes.
1.4 RESEARCH QUESTIONS
The following research questions have been formulated to enable the research in course of the study.
a. Does the activities of manufacturing, enhanive and many other organization destroy our environment?
b. Does the companies carryout end project to the advantage of the society/community.
c. Does the companies abandon any project without completion?
d. Does the companies encounter hindrance in the course implementing and initiated project?
e. Does the project actually improve the standard of life of the people.
1.5 SIGNIFICANCE OF THE STUDY
The significance of the study lies in the fact that it will add and enrich the alliteration on corporate social Responsibility and expose the underlying importance of this concept. This will bring harmony between the companies and the communities where they operate.
It will also educate as well as remove the expression that business is not only for huge profits making but improvement in the welfare of its workers and lost communities include neighbours communities.
The research also challenged the researchers and shad added mine knowledge in the subject to the research.
Finally, the government will come up with motivating policies to encourage companies participating in the executive of corporate social Responsibility.
1.6 SCOPE OF THE STUDY
The scope of this study courses the activities of selected manufacturing company in Enugu urban and their corporate social Responsibility activities.
This, the study will evaluate the corporate social Responsibility activity to manufacturing company In Enugu.
1.7 LIMITATIONS OF THE STUDY
The researchers encountered numerous problems while conducting the research. These constraints are:
1. Limited time: The researcher was not given enough time to extend its research.
2. Insufficient finance: The unavailability of sufficient end adequate finance was a problem to the researcher for not able to go beyond the above case study.
3. Thirdly, The unwillingness of the interview to respond or disclose needed information militate the study.
1.8 DEFINITION OF TERMS
Some of the terms used in this work are defined the low base on the usage in the work and not according to literacy meaning.
1. Social Responsibility: It is business obligation beyond that required by law.
2. Stakeholder: hose concerned, these are people that influences the organizational activities in one way or the other.
3. The employees: These are those who work in the organization and depend on it for their daily living.
4. The society: These are the people living within the business environment
5. Environment: This can be viewed as a source of information to a business organization and also a source of material resource to the enterprise.
6. Manager: Is a career officer hose has undergone courses of management. He is an employee whose main purpose is to meet the objective of the employer.
7. Organization: Is any social structure or system consisting of two or more persons who are interdependent product and who work together in a coordinated manner to attain common goals.
8. Production: This can be briefly defined as a process by which raw materials are transferred into different product be it finished or semi finished goods.
9. Social responsibility: is the obligation of a business organization to respond to the expectation place upon it by its external community and other stakeholders in a manner that will satisfy them.
10. Strategy: is a consistent appropriate and feasible set of principle or plan of action through which a particular company hope to achieve it state objectives.
11. Opportunity: It is a chance of favourable condition for business organization, it may be also be unfavourable i.e. exposure to risk.
12. Employment: it is a situation in which all available labour resources are being used in the most economical, efficient way.
Corporate Social Responsibility (CSR) plays a crucial role in the development of society by encouraging businesses to go beyond profit-making and actively contribute to the well-being of communities and the environment. Corporate Social Responsibility involves a company’s commitment to ethical and sustainable business practices that benefit not only its shareholders but also its various stakeholders, including employees, customers, suppliers, and the broader society. Here are some key ways in which Corporate Social Responsibility contributes to the development of society:
- Economic Development: Corporate Social Responsibility initiatives can stimulate economic growth and job creation in local communities. By investing in local businesses, providing job opportunities, and supporting small-scale enterprises, companies can help uplift disadvantaged regions and reduce unemployment.
- Environmental Sustainability: Many Corporate Social Responsibility programs focus on reducing a company’s environmental footprint. This includes initiatives to conserve resources, reduce emissions, and promote sustainable practices. By doing so, companies help protect the environment for current and future generations.
- Education and Skill Development: Companies often invest in education and skill development programs, which can help bridge educational gaps and provide individuals with the skills needed for employment. This contributes to a more skilled and employable workforce, fostering economic growth.
- Health and Well-being: Corporate Social Responsibility efforts can target healthcare, nutrition, and access to clean water and sanitation. Companies can support health clinics, provide clean drinking water, or promote healthy living through awareness campaigns. This helps improve the overall health and well-being of communities.
- Poverty Alleviation: Companies can engage in poverty alleviation initiatives, such as microfinance programs or support for social enterprises. These efforts can help lift people out of poverty and create a more equitable society.
- Community Development: Corporate Social Responsibility often involves investments in community infrastructure, such as building schools, hospitals, and community centers. These facilities improve the quality of life for residents and contribute to social development.
- Ethical Business Practices: By adhering to ethical business practices, including fair labor standards, responsible sourcing, and anti-corruption measures, companies contribute to a more just and equitable society. This helps build trust among stakeholders and fosters a more stable business environment.
- Philanthropy and Charitable Giving: Many corporations donate a portion of their profits to charitable causes and nonprofit organizations. This financial support can fund critical services and initiatives that directly benefit society.
- Employee Well-being: Corporate Social Responsibility also encompasses efforts to improve the well-being of employees. This includes fair wages, safe working conditions, and opportunities for professional development. Happy and healthy employees are more productive and contribute positively to society.
- Innovation and Technology: Companies involved in Corporate Social Responsibility often invest in research and development, driving innovation that can address societal challenges. Technological advancements in areas like healthcare, renewable energy, and communication can have far-reaching positive effects on society.
In conclusion, Corporate Social Responsibility goes beyond profit generation and serves as a powerful tool for businesses to make a positive impact on society. When companies actively engage in Corporate Social Responsibility activities, they contribute to economic, social, and environmental development, fostering a more sustainable and equitable world.