TABLE OF CONTENTS
Abstract
CHAPTER ONE
1.0 Introduction
1.1 Background of Study
1.2 Statement of Problems
1.3 Research Objectives
1.4 Research Question
1.5 Research Hypothesis
1.6 Scope of Study
1.7 Significance of study
1.8 Limitation of study
1.9 Definition of terms
CHAPTER TWO
2.0 Literature Review
CHAPTER THREE
3.0 Research methodology
3.1 Research Design
3.2 Population of study
3.3 Sampling Design and Procedure
3.4 Data Collection Instrument
3.5 Administration of Data Collection Instrument
3.6 Methods of data analysis
CHAPTER FOUR
4.0 Data Presentation and Analysis
4.1 Data Presentation
4.2 Test of Hypothesis
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendation
5.1 Summary
5.2 Conclusion
5.3 Recommendation
References
Questionnaire
CHAPTER ONE
1.1 BACKGROUND OF THE
STUDY
Within the world of business, the main
“responsibility” for corporation has historically been to make money and
increase shareholders value. In other worlds, corporate financial
responsibility has been the sole bottom line driving force. However, in the
last decade, a movement definining broader corporate responsibilities for the
environment for local communities, for working conditions, and for ethical
practises has gathered momentum and
taken hold. This new driving force is known as CORPORATE SOCIAL RESPONSIBILITY
(CSR).
It is often times described as the
corporate “triple bottom line” the totality of the corporations financial,
social and environmental performance in conducting business.
As the commercial sector increases its
investments in corporate social responsibility in its three usual ventures (the
work place, the market place and the community), USAID is presented with the
unique opportunity to create corporate partnership that can help expand,
enhance and sustain its health efforts in developing countries.
Reality shows that firms have recently
been able to adapt to a changing world not only by developing economically but
also socially and ethically. A firms aim remains based on a development
strategy that non only favours its shareholders but also responds to all stake
– holders to involved either directly or indirectly in the production process.
A firm is an open system and to carry
out its main aim must be able to combine two large categories of interest.
Profitability and its stakeholders interest. Given that a system of exchange
and mutual influences is created between stakeholders and the firm, management
must be able to analyse objectives, resources and the strategy of common groups
of stakeholders that need to be considered as well as its own ability to
mobilize other stakeholders.
Given their overriding priority
compared with other stakeholders, the consumer has assumed a focal role, which
has led firms to meet ethical value. A clear sign of this has been growing
number of firms that have decided to take ‘Socially responsible’ action (see
Masimo and Podd; 2008;Podd; and vegalli; 2008)
This is when the concept of corporate
social responsibility (CSR) has developed and is beginning to enter into common
lexical knowledge and is increasingly being used by academics and economist for
the sustain ability of economic development. As often happens when new terms
are coined, they tend to lose their conceptual precision leaving their
evocative value which is however watered down by the multitude of different
meanings and context in which it is used.
The concept of corporate Social responsibility
(CSR) indeed, taken on different meanings depending on the organisation or
group that uses it. Some tend to emphasize individual aspects that they believe
to be more important than other especially ethnics, the environment, safety
education or human right.
Definitions
often vary as they represent historical and social difference between
countries. Indeed, certain definitions underlying a particular theme because it
is more relevant in that particular state, at other time the concept of
corporate social responsibility reflects the level of economics and therefore
social development of a country.
Du to the different weight given to
the term by different countries, the world business council for sustainable
development (WBCSD) has given the following definitions:
“Corporate
Social Responsibility is the task of a business to contribute to sustainable
economic development working together with workers, their families, the local
communities and the society in general to improve quality of life.”
Lewis
(2002) describes corporate Social Responsibility as the interaction between
business and the social environment in which it exists.
Corporate Social Responsibility is
also describes as a way of considering, managing and balancing the economic,
social and environmental impacts of its activities (PJC 2006). The notion of
Corporate Social Responsibility as a part of the core business operations of a
company, rather than a separate “add on”, distinguishes it from corporate
philanthropy which may be funded out of operations that are damaging to the
communities in which company or business is conducted. The extent to which
company directors and managers should consider social and environmental factors
in waking decisions, rather than focusing exclusively on maximising short term
accounting profits, has been the subject of such discussion in recent years.
1.2 STATEMENT OF THE PROBLEM
The practical of Corporate Social
Responsibility (CSR) is subject to much debate and criticism. Proponents argue
that there is a strong business case for Corporate Social Responsibility (CSR)
in that corporation benefits in multiple ways by operating with a perspective
broader and longer than their own immediate short term profit.
Critics argue that Corporate Social
Responsibility (CSR) distracts from the fundamental economic role of a
business, others argue that it is nothing more than superficial widow dressing,
others yet argue that it is attempt to pre-empt the role of government as a
watchdog over powerful multinational corporations.
Attaining Sustainable development
should not be the duty of the government in carry out activities that leads to
the improvement in the quality of life in the society at large. This concept is
however not yet fully embraced in Nigeria, some companies sees Social
Responsibility as unnecessary burden. They are of the view that economic
climate prevailing burden in the guise of social responsibility is unfair to their
business.
Some companies are not even aware of
the concept of social responsibility. They think that as long as they are
operating within the confines of their legal status and are fulfilling their
entire legal obligations, they are in order.
The concept of Social responsibility
is so in precise that it may not be easy to determine what social
responsibility a company should embark upon. Many companies maintain that
employing and training staff for better performance, contributing to the public
revenue through payment of taxes,
boosting the countries Gross Domestic Product (GDP) by being productive and
maintaining cordial relationship with its close stakeholders, suppliers,
consumers and employee are enough social responsibilities to contend with.
1.3 OBJECTIVES OF THE STUDY
The light of this research is to
evaluate the impact of corporate social responsibility on organizational
performance most especially Zenith Bank PLC, Ijebu Ode Brach.
The
specific objectives are as follows
1. To
find out the limitations posed by governmental fiscal polices such as taxes and
other levies on social responsibility
2. To
determine an appropriate level of social responsibility for organization
3. To
establish relationship between profitability and social responsibility in the
Banking sector
4. To
determine the level of awareness for socially responsibility accounting and the
degree of responsiveness of business to their
immediate environment.
1.4 SCOPE
AND LIMITATION OF THE STUDY
With the increase in the activities in the field of
banking new areas has seen added to the transitional list of services rendered
by banks which has led to increase to their operation, and enactment of new
rules and regulations.
The scope of the study is to enhance the effect of
Corporate Social Responsibility (CSR) on the performance on Nigerian banks most
especially Zenith Bank PLC, Ijebu Ode branch
1.5 RESEARCH
QUESTIONS
The following are the research questions that
emanate in the course of this study
1. Is
there any relationship between maximization of shareholders wealth and
corporate Social Responsibility?
2. Is
there any relationship between corporate social responsibility and customer
patronage?
3. Do
government fiscal policies encourage or discourage companies from being
responsible?
4. Would
the introduction of legislation and professional standard and social
responsibility and reporting improve the level and quantity of corporate social
responsibility?
1.6 RESEARCH
HYPOTHESIS
The research hypothesis is been tested for this
research
Ho: (null hypothesis)
Hi: (alternative hypothesis)
This test will highlight the relationship between corporate
social responsibility and organizational performance.
Ho: There is no significant relationship between
social responsibility and organizational performance
Hi: There is a significant relationship between
social responsibility and organizational performance
1.7 SIGNIFICANCE AND
JUSTIFICATION OF THE STUDY
Corporate
Social Responsibility (CSR) has been identified and acknowledge as a powerful
tool to generate trust and confidence in an institution. In this context, good
corporate social responsibility is essentially important for bank because such
institutions deals with funds raised from the general public.
Findings
would serves as a guide for the establishment of statutory laws and standard to
regulate social responsibility accounting and reporting and also educate the
corporate firm in the promotion of corporation rate Social responsibility (CSR)
To show
the commitment of Social responsibility to Profitability, it would also embrace
the knowledge of students to social responsibility accounting.
1.8 DEFINITION OF TERMS
CORPORATE SOCIAL
RESPONSIBILITY (CSR)
According
to Business for Social Responsibility (BSR), Corporate Social Responsibility
(CSR) has achieving commercial success in ways that honours ethical values and
respect people, communities and the neutral enhancement.
ORGANIZATIONAL
PERFORMANCE
This
refers to the effectiveness of an organization or a firm in fulfilling its
purpose for a particular target audience.
STAKEHOLDER
The
term stakeholder means those that are affected by firms or organisations
performance or activities.
BENCH MARKING
This
involves reviewing competitors corporate social responsibility (CSR)
initiatives as well as measuring and evaluating the impact that those policies
have on society and the environment and how customers perceive competitors corporate
social responsibility.