IMPACT OF SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE WITH PARTICULAR REFERENCE TO ECOBANK PLC, KADUNA
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IMPACT OF SOCIAL RESPONSIBILITY ON ORGANIZATIONAL
PERFORMANCE WITH PARTICULAR REFERENCE TO ECOBANK PLC, KADUNA
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
An organization may be profit oriented or
non-profit oriented. The fact remains that every organization is made up of
four basic resources (i.e. man, material, money and machinery) and its
environment.
According to Weirich and Koontz (1987) management
is a process of designing and maintaining an environment in which individuals
working together in groups, efficiently accomplish selected aims. The term
‘environment’ in this definition refers to both internal and external
environment. All organization have a two point agenda to improve qualitative
(the management of people and processes) and quantitatively (the impact on
society). The second is as important as the first and stakeholders of every
organization are increasingly taking an interest in “the other circle” – the
activities of the organization and how these are impacting the environment and
society.
Social responsibility is an ethical ideology or
theory that an entity be it an organization or individual, has an obligation to
act to benefit society at large. Social responsibility is a duty every
individual or organization has to perform so as to maintain a balance between
the economy and the ecosystem. The term “corporate social responsibility” (CSR)
came into common use in the late 1960s and early 1970s after many multinational
corporations formed the term stakeholder meaning those on whom an
organization’s activities have an impact. It was used to describe corporate
owners beyond shareholders as a result of an influential book by R. Edward
Freeman, Strategic Management; a stakeholder approach in 1984. CSR is one of
the newest management strategies where organization’s try to crate positive
impact on society doing business.
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 tends to operate as a built-in,
self-regulating mechanism under which a business will monitor and ensure its
compliance with law, international norms and ethical prescriptions (Institute
of Chartered Accountants of Nigeria [ICAN], 2010). A business or organization
assumes responsibility for the impact of its activities on the environment. Thus,
CSR is a process with the aim to embrace responsibility for the organization’s
actions and encourage a positive impact through its activities on the
environment, consumers, employees, communities, stakeholders and all the
members of the public sphere who may also be considered as stakeholders
succinctly a business or organization ahs to proactively promote the interest
of the public through voluntarily avoiding activities which are harmful,
regardless of legality.
According to Business for Social Responsibility,
Corporate Social Responsibility (CSR) is defined as operating a business in a
manner that meets or exceeds the ethical, legal, commercial and public
expectations that society has of business. On the other hand, the European
commission hedges its bets with two definitions wrapped into one; CSR is a
concept whereby companies decide voluntarily to contribute to a better society
and a cleaner environment. A concept whereby organizations integrate social and
environmental concerns in their business operations and their interaction with
their stakeholders on a voluntarily basis. Each of these definition when
reviewed broadly agree that CSR now focuses on the impact of how you manage
your core business. However some go further than others in prescribing how far
organizations beyond managing their own impact into the terrain of acting
specifically outside of that focus to make of contribution to the achievement
of broader societal goals.
1.2 Statement of the Problem
It is quite unfortunate that there is no clear-cut
definition of what corporate social responsibility (CSR) comprises. Every
organization ahs different CSR objectives, though the motive is the same. But
it becomes more complex and depicts a key difference, when many business
managers (leaders) feel that their organizations are ill-equipped to pursue
broader societal goals, and activists argue that organization have no
democratic legitimacy to take such roles.
Critics have argued that corporate social
responsibility distracts from the fundamental economic role of business, others
argue that it is nothing more than superficial window-dressing; others argue
that it is an attempt to pre-empt the role of government as a watching over
powerful tricorp corporations. Therefore, a trade off always exists between
economic development in the material sense, and the welfare of the society and
environment. To sustain he equilibrium between the two, the researcher deem it
necessary to assess the impact of social responsibility on organizational
performance of Ecobank Plc, Kadpoly branch, Kaduna.
1.3 Objectives of the Study
i)
To assess the
effect of social responsibility on organization’s productivity.
ii)
To help
Ecobank Plc, Kadpoly – Kaduna sustain the equilibrium between corporate
economic development and the welfare of its environment and society.
iii)
To enumerate
the benefits of corporate social responsibility on organizational performance
in the long run.
iv)
To identify
the social responsibility efforts of individuals towards the success of
collective group of corporate social responsibility.
v)
To ascertain
the ethical involvement and commitment of Ecobank Plc Kaduna in social
responsibility strategy and ideology.
vi)
To assist
Ecobank with rational information on concept of responsibility to be imbibed in
its corporate organization’s activities.
vii) To bring to limelight the use of ethical decision
making strategy in securing organization’s business/interest by making
decisions that allow for government agencies to minimize their involvement with
the corporation.
viii) To also assist preventing and condemning the use
of social responsibility as a tool for superficial window-dressing mechanism.
1.4 Statement of Hypotheses
According to ICAN (2006), hypothesis is a
statement of logical guess, which reflects the possibility in the occurrence of
an event under investigation. In an attempt to reach a rational inference on
the research problems identified, the following hypotheses have been
formulated:
H0: Effective and efficient social
responsibility strategy does not enhance the productivity level of an
organization.
H1: Effective and efficient social
responsibility strategy enhanced the productivity level of an organization.
1.5 Significance of the Study
The research work will help in bridging the gap
between corporate economic development of Ecobank Plc, Kaduna and the welfare
of its environment and society at large.
This study when applied will contribute immensely
to organizational performance of Ecobank Plc, Kaduna both in the short-run and
long-run.
This research work when applied appropriately
will promote and enhance the self-regulation strategy of social responsibility,
thus reduce government regulations and involvement in the business of
organizations.
This study when fully adopted will be of great
importance to customers, society and environment in which Ecobank, Kadpoly
Kaduna operates since its social responsibility impact will influence the lives
of these customers and society positively.
This research project when fully implemented will
find the interstices of win/win solutions among organization’s stakeholders in
a mutually beneficial manner.
It is the researcher’s believe that at the end of
this research work, the findings, conclusion and recommendations arrived at
will be instrumental in the social responsibility policy of Ecobank Plc,
Kaduna.
This study will also add to existing body of
knowledge on the subject matter, thus serve as a reference material or future
studies on the topic of discussion.
1.6 Scope of the Study
This study encompasses the impact of social
responsibility on organizational performance with special reference to Ecobank
Plc, Kadpoly branch, Kaduna.
1.7 Limitation of the Study
In the course of this research work, the
researcher is faced with the challenge of time-limit and financial inadequacy
as major constraint factor. But, to God almighty as his timely intervention
provides a suitable panacea and succor arrested the situation.
1.8 Historical Background of Ecobank Plc,
Kaduna
Ecobank Transnational Incorporated (ETI) a public
limited liability company was established as a bank holding company in 1985
under a private sector initiative spearheaded by Federation of West African
Chambers of Commerce and Industry with the support of ECOWAS. In the early
1980s, the banking industry in West Africa was dominated by foreign and
state-owned banks. There were hardly any commercial banks in West Africa owned
and managed by the African private sector. ETI was founded with the objective
of filling this vacuum.
The Federation of West African Chambers of
Commerce promoted and initiated a project for the creation of a private
regional banking institution in West Africa. In 1984, Ecorpromotions S.A. was
incorporated. Its founding shareholder raised the seed capital for feasibility
studies and the promotional activities leading to the creation of ETI.
In October 1985, ETI was incorporated with an
authorized capital of US$100 million. The initial paid up capital of US$32
million was raised from over 1,500 individuals and institutions from West
African countries. The largest shareholder was the ECOWAS fund for Cooperation,
Compensation and Development (ECOWAS Fund), the development finance arm of
ECOWAS. A headquarters agreement was signed with the government of Togo in 1985
which granted ETI the status of an international organization with the rights
and privileges necessary for it to operate as a regional institution, including
the status of a non-resident financial institution. ETI commenced operations with
tis first subsidiary in Togo in March, 1988.
Mission and Vision
The dual objective of Ecobank Transnational
Incorporated (ETI) is to build a world-class pan-African bank and to contribute
to the economic and financial integration and development of the African
continent.
The Ground Story
Today, Ecobank is the leading pan-African bank
with operations in 32 countries across the continent, more than any other bank
in the world, it currently operates in countries in West, Central, East and
Southern Africa namely Angola, Benin, Burkina Faso, Burundi, Cape verse,
Cameroon, Central African Republic, Chad, Congo Brazzaville, Democratic
Republic of Congo, Cote d’Ivoire, Equatorial Guinea, Gabon, Ghana, The Gambia,
Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda,
Sao Tome & Principe, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia
and Zimbabwe. The Group also has a licensed operation in Paris and
representative offices in Johannesburg, Dubai and London.
Ecobank Today
Ecobank is the leading pan African banking group
in Africa with a presence in more African countries than any other bank. In all
the markets in which we operate, we are recognized as one of the leading banks,
providing a full range of wholesale, retail, commercial, investment and
transaction banking services and products. To achieve thus, we have implemented
an international technology and Shared Services Centre in Accra to provide
standardized and automated transaction processing on a 24/7 basis to all
affiliates of the Ecobank Group. The centre also has an integrated telecoms
network which provides 24/7 connectivity, thus ensuring reliability of its
products and services. Our range of banking products and services to
individuals and corporate includes:
* Current Account * Personal loan * LCs and Bills
for Collections * Savings Account * Car and motor loan ** Transfer and payments
* Cards * Mortgages (Home Loan) * Foreign Exchange *Deposit Account * Business
Loan * Western Union
Our customers include governments and government
agencies, multinational, regional, multilateral and financial institutions,
local companies and medium, small and micro enterprises and consumers.
As a group, our strategy is to build scale
through organic growth and acquisitions; grow our businesses in existing
markets and expand into new markets, product and customer segments and, deliver
improved efficiency through operational and product excellence and superior
customer service. To achieve thus, we have established “One bank everywhere you
go” Ecobank operates as “One bank” with common brand, standards, policies and
processes, which means you get a consistent and reliable service across its
network of over 600 branches, offices and over 600 alliances locations.
Our objective is to create superior shareholder
value in 2014. Above all, Ecobank enforces management standards and policies in
the areas of ethics, anti-money laundering, conflict of interest and corporate
governance. These policies and standards are periodically reviewed to reflect
local requirements and changes in international practices. Ecobank, today is
considered by customers and investors as the leading pan-African bank.
1.9 Definition of Terms
Corporate Governance: Is defined as “the set of mechanisms through
which outside investors are protected from expropriation by insiders (including
management, family interests and/or governments)” (Nganga, Jain & Artivor,
2003).
Corporate Social Responsibility: “Is the continuing commitment by business to
behave ethically and contribute to economic development while improving the
quality of life of the workforce and their families as well as of the local
community and society at large” (Home & Watts, n.d).
Ethics:
Are morale that delineates expectation for social behaviour according to
contemporary conventional norms within a society, social class, group or
organization.
Strategy:
Is the act of mapping out best way of achieving an objectives through
calculated and systematic programme.
Window-Dressing: Also known as creative accounting or cosmetic
financial reporting is the situation/act of deliberately or intentionally
falsifying accounts with the views of overstating performance of a business.
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