PROJECT TOPIC- CORPORATE SOCIAL RESPONSIBILITY OF A BUSINESS ORGANISATION
This project is centered on Corporate Social Responsibility of a Business Organization. The major objective is to establish good community management relationship and to build the knowledge on the characteristics of Corporate Social Responsibility. In the literature review, the Researcher tries to define the subject matter, its need and advantages to the community and the responsibilities of a company to its host community. The study dealt with the research method used. We tried to view the sources of data analysis and the population size. The study also dealt with the data collected, which is fully presented and analyzed.
- 1 Background to the Study
Long ago, the basic objective of business organization were purely profit oriented in every sphere of business endevour. Both there have been a pervasive change or influence within the past decades concerning the subject matter of corporate social responsibility on the growth of large business organization. The privileged given to organization to operate in the society storms from the fact that society believes that there is mutual interdependence between the two.
Corporate social responsibility is seen as an intelligent and objectives concern for the welfare of society which remains individuals and corporate behaviours from ultimately destructive activities no matter how immediately profitably and which lead in he direction of positive contribution to human battlement. (Nwachukwu, 1983).
Browne (2002) sees social responsibility as the obligations of business man to pursue those policies to make those decisions or follow those lines of actions which are described in terms of objectives and values of society.
Social responsibility involves an ethical imperatives to do those things that could jeopardize its interest. The era when business organization’s major focus is on profit making has elapsed and replaced with business organization, organization that must look upon its social responsibilities as inseparable from its economic function. It is against this background that we say that business must be concerned with their primary objectives which is profit and at the same time the society or community expert business organizations to make positive social impact on the society on which its economic wellbeing depends largely.
Eco bank Nigeria plc was incorporated on 7th October 1986, it further acquired as distressed bank like liberty bank and defunct hallmark bank. It has over 250 branches in Nigeria with wide range of product such as mortgage (home loan) foreign exchange, western union, transfer and payment, business loan, letter of credit and bills for collection accounts like saving, current, fixed etc (extracted from www. Ecobank.com)
Eco bank Nigeria plc is a leading financial service institution in Nigeria and a point of reference within the country professionalism and ethics.
PROJECT TOPIC- CORPORATE SOCIAL RESPONSIBILITY OF A BUSINESS ORGANISATION
It is also a one customer service bank and consciously promoting banking as an instrument of social and economic development. Moreover it employed non Nigeria and Nigerians of different ethics group and transform seasoned graduate into professional who are seasoned and tested in providing satisfactory services to customers. Econ bank has a group which is leading independent regional banking groups in west central Africa providing services to its customers with a network. Over 450 branches with office in 22 countries.
On the 28th November, 2011 Ecobank acquired Oceanic bank plc by way of merger and this dramatically increased their scope and range of operation, number of shares and assets of the company, number of employees and branches in which two branches are located in Auchi, one at Ibe road, the other at poly road.
- 2 Statement of the Problem
- Poor quality service being experienced in the banking industry, the kind of service the workers of Ecobank gave to their customers is very poor. This is as a result of bad network service. Customers no longer enjoy putting their money in the bank.
- It was observed that in the year 2011 when Ecobank acquired oceanic bank newly, this service was almost at 95% percent but it reduced when customers started observing lapses on the side of the bank. Thus, many shifted their patronage to their banks.
- High rate of labour turnover. The rate at which workers of Ecobank leave their employment increase rapidly when they notice some internal problem.
- Low market share: the position of this bank share in the market decrease every day. The daily report of company’s profile and loss on the business day news paper and on the television shows the profit drop of this company.
- 3 Research Questions
- (i) Does the performance of corporate social responsibility improve the customers patronage?
- (ii) Can the discharge social responsibility lead to growth of business organization?
- (iii) What are the modalities adopted by Ecobank in performing their social responsibility?
- (iv) Can non performance of corporate social responsibility have diverse effect on the organization?
- (v) Can the performance of corporate social responsibility improve the image of the organization
- 4 Objective of the Study
- To find out if the performance of corporate social responsibility can improve the customers patronage on organization.
- To ascertain if the discharge social responsibility can lead to growth of business organization
- To find out the modalities adopted by Ecobank in performing their social responsibility.
- To examine if non performance can have effect on the organization
- To find out if performance of corporate social responsibility can improve the organization’s image
- 5 Statement of Hypotheses
- (1) corporate social responsibility has no significant impact on the improvement of business market share.
- (2) There is no significant relationship between corporate social responsibility and quality services.
- (3) Corporate social responsibility does not play any significant role in reducing high rate of labour turnover.
- 6 Scope of the Study
The ambit of this research has covers the issues or subject matter of the impact of the corporate social responsibility on the growth of business organization. Among the different business organization in Nigeria, Ecobank Nigeria plc was chooses as the case study which in turn was used to generalize the aspect of CSR on the side of Nigeria business organization.
- 7 Significance of the Study
The research work will be immense importance to large business organization in appreciating the fact that acting in a socially responsible manner on the side of business concerns has long term benefit in maximizing in profit of the organization. The study will also go a long way in enhancing and promoting the general growth of the economy by understanding the relationship an the impact of corporate social responsibility on the growth of business organizations, to employees, creditors, suppliers/distributors, competitors, government etc.
Furthermore, the society at large will be made to comprehended that social responsibilities act is not always the business of government or just an institution established for solving problems of its citizenry but of every concerned industrial and corporate organization in areas of community where they are situated. Apart from the enumerated point above, the research work will be relevant in servicing as a reference to future researchers in terms of knowledge development of the work.
- 8 Limitation of the Study
The first problem encountered by the researcher was time constrain. As a result, it was not possible for the researcher to combine classroom activities with visiting Ecobank branches outside Auchi to source information, which he intended to do. This work was limited to the branches in Auchi.
Another problem encountered by the researcher was insufficient fund for transportation. The researcher wish to visit other large organization to ascertain the level of which they respond to CSR but financial insufficient hindered it. Delay on the side of the respondent, he encountered delay from the respondent in retrieving the questionnaires distributed to them in the course of the research, but it is on the assumption that staff made a honest reply.
- 9 Operational Definition Of Terms
Corporation: The supreme court defined corporation as “an official being, invisible, intangible and existing only in contemplation of the law” Osoba, (2012).
Corporate Objective: The which is shared or benefited by the entire organization of the firm and no single person is left behind.
Responsibility: Something which an individual or organization ought to do because it is normally or socially right.
Research: This implies a scientific investigation carried out on a serious study of a subject matter in other to discover new fact or test new ideas.
Business: Business can be defined as the activities undertaken that brings about gains.
Organization: It is a body of persons. Working together to achieve a goal or objective
Society: People living together in an ordered community
Customer: A person buying a product either for consumption or for further production.