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RELEVANT OF CORPORATE SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE

RELEVANT OF CORPORATE SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE

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RELEVANT OF CORPORATE SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE

Chapter one

1.1INTRODUCTION

Corporate social responsibility, often known as corporate citizenship. Corporate responsibility, or corporate social performance, is a type of corporate self-regulation that is integrated into a business strategy.

Corporate social responsibility tends to function as built-in, self-regulating processes by which a company monitors and ensures compliance with the law, international conventions, and ethical prescription.

A firm or company accepts responsibility for the effects of its actions on the environment, employees, consumer communities, and other members of the public.

Furthermore, a corporation must actively promote the interests of the public by voluntarily avoiding damaging practices, regardless of legality.

Furthermore, business has a significant impact on our social and economic life styles. As a social institution, it is responsible for providing a standard of living and maximising life quality.

Today, life quality encompasses not only the quality and quantity of consumer products and services, but also the improved quality of life in society and the environment.

There is also a desire for corporate social responsiveness, which refers to an organization’s competence and preparedness to tie its plans and policies to the social context in ways that benefit both the organisation and society.

Businesses are expected to operate in socially beneficial ways, particularly in terms of the physical environment, product quality, employee working conditions, and the elimination of unfair discrimination in hiring and firing.

1.2 Statement of the Problem

This research is carried out to investigate the relevance of corporate social responsibility on organisational performance; the challenge that prompted this investigation includes:

Inadequate understanding of the importance and purpose of corporate social responsibility in improving organisational performance.

1.3 RESEARCH QUESTIONS

1. How important is corporate social responsibility?

2. What are the statutory duties of management in terms of corporate social responsibility?

3. Does a corporation’s action have an influence on communities, the environment, or society as a whole?

4. Does corporate social responsibility help corporations succeed?

5. Does corporate social responsibility enhance profits?

6. Do corporations have to be forced to be socially responsible?

1.4 The purpose of the study

1. Identify the issues that undermine an organization’s corporate social responsibility.

2. Determine whether corporate organisations are required to be socially accountable after paying taxes.

3. Is it necessary for corporate organisations to be socially responsible?

4. To investigate the impact of corporate social responsibility on organisational performance.

5. To critically assess First Bank of Nigeria Plc’s corporate social responsibility performance.

1.5 Significance of the Study

This research is extremely important to students, business organisations, consultants, and the general public. It will educate the management of First Bank of Nigeria plc on the importance of corporate social responsibility and its role in improving the organization’s image.

Furthermore, it will identify numerous methods for ensuring the effectiveness of corporate social responsibility.

1.6 Research Hypothesis

Ho: Corporate social responsibility has little impact on organisational success.

Hi: Corporate social responsibility has a substantial impact on organisational success.

1.7 SCOPE OF THE STUDY.

The scope of the study is limited to the case study, but the findings will be generalizable. The questionnaire will be distributed to the employees of First Bank of Nigeria Plc.

1.8 Limitations of the Study

The availability of funds and time is extremely limited for carrying out this research work to a standard that will result in a final payment for the issue.

Just to remark that in our country, financial institutions are hesitant to share information about themselves for fear of intrusion, instability, and unhealthy rivalry.

1.9 Definition of Term

Responsibility is the state, contract, or position of being answerable to someone or for something.

Norms are conventional patterns of behaviour.

Environment: We refer to actions outside of a business firm that impede or aid the attainment of the goal of such a business venture.

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