Corporate Social Responsibility In Business

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CHAPTER ONE
BACKGROUND OF THE STUDY
To date, the concept of corporate social responsibility has grown to be an unconscious practice not entirely under the regulations of any official laws or legal bodies but more as a custom that an organization should practice and obey. In Nigeria, quite a number of publicly quoted companies tends to view corporate social responsibility as a strategic issue.
By engaging in corporate social responsibility activities, corporations will gain better recognition as responsible corporate citizens from the perspective of international and local investors. The traditional view of business is essentially to maximize profits. However, the traditional views are no longer adopted in today’s business environment, …show more content…
Csr can be defined as treating the stakeholders of the firm ethically or in a responsible manner. Csr is a concept whereby an organization considers the interest of the society by taking responsibility for the impact of their activities on a stakeholder as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life of employees and their families as well as the local community and society at large
Carroll (1991) suggested that csr should be divided into four levels: Economic, legal, ethical and philanthropic responsibilities. Economic responsibility refers to the profitability of the organization, while legal responsibility is complying with laws and regulations. As for the ethical perspective, the organization’s performance should go beyond the laws to do the right thing in fair and just ways. Philanthropic responsibilities refers to voluntary giving and service to the …show more content…
Therefore, loyalty and commitment from customers are likely to increase if companies act responsibly and accountably in terms of their social and environmental impact (pirsch gupta & gray 2007). This paper aims to examine the influence of csr on buying behaviour of Nigerian consumers. My area of interest is in exploring whether consumers in Nigeria, considers organisation’s csr issues before associating themselves with organisation’s product and services. Apart from that, this study also aims to identify the awareness level of Nigerian consumers towards csr. The result of this study will also be useful for business organisations in understanding the consumer’s priorityfor the csr activities that they should be engaging in and it will contribute to existing
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