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THE IMPACT OF CORPORATE
SOCIAL RESPONSIBILITY ON THE PERFORMANCE OF ACCESS BANK PLC KADUNA
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.
i. 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.
ii. 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.
iii. 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:-
i. To
examine social responsibility between/among business organizations, government
and its agencies, stakeholders and the society at large.
ii. To
examine the impact of corporate social responsibility on the performance of
business organization
iii. 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.
iv. 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
i. 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?
ii. What are
the impact of corporate social responsibility on the performance of Access Bank
Plc?
iii. What
extent have corporate social responsibility impacted positively among/between
business organizations?
iv. 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:
i. 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.
ii. Financial
constraints: The work is really tasking and in my financial capacity as a
student it is not easy to meet up with.
iii. 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:
i. Ethics =
Ethics according to Grace and Cohen (2005) includes standards of moral
behaviour that is, behaviours that are acceptable by the society.
ii. 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).
iii. 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.
iv. Social responsibility = according to Welhrich
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.
v. 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.
vi. 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.
vii. 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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