SOCIAL RESPONSIBILITY AS SURVIVAL STRATEGY FOR ACHIEVING BUSINESS ORGANIZATION PRODUCTIVITY
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SOCIAL RESPONSIBILITY AS SURVIVAL STRATEGY FOR ACHIEVING BUSINESS ORGANIZATION PRODUCTIVITY
Chapter one
Background of the Study
1.1 Introduction.
Social responsibility is primarily concerned with the public interest. It is the intellectual and objective concern for society’s welfare that restrains individual and corporate behaviour from eventually damaging pursuits, no matter how momentarily profitable, and leads to beneficial contributions to human well-being.
The idea of social responsibility recognizes that each person is tied to a larger social system on which he or she is party dependent. Businesspeople should also consider the needs and interests of those who may be impacted by their decisions.
The public’s needs have changed, and so have their expectations. Society granted businesses a charter to exist, which can be changed or cancelled at any time if the firm fails to meet society’s expectations and needs.
It includes voluntary actions that contribute to improving the quality of use, such as charitable donations, contributions to educational development, such as scholarship awards to community members, contributions to sports development, and other actions that generate benefits to society while providing little or no economic benefits to the organisation taking on the responsibility.
The dynamic business environment is primarily defined by changing technological tastes, habits, and expectations, as well as changing business responsibility.
The changes caused by the environment and the extent to which they affect business and those who deal with it, the public, particularly businesspeople, should include all those with whom they have direct dealings, such as stockholders, workers, customers, suppliers, and community neighbours.
According to Lord Holme and Richards Worths Jan (2000) in the World Business Council for Sustainable Development, publication assumes that doing good business involves acting ethically and contributing to economic development while improving the quality of life of the workforce and their families, as well as the local community and society as a whole.
Customers: The majority of well-established businesses have millions of customers and end users who rely on them for the services and goods they need.
Workers are a group of people who have a contractual agreement with a corporate organisation to provide services in exchange for a salary and job security.
By Directing: Is the demand for employees in an organisation a derived demand? They are lined up because of a real or anticipated need for the goods and services they will produce.
Once these employees are hired, it is the responsibility of management to unite them in the achievement of organisational goals. It deals with the use of communication leaders to achieve organisational goals.
Planning is an activity conducted at all levels of management; it is a thorough process involving planned courses of action. The overall plan included broad company objectives
whereas the department plan comprises efforts to attain subsidiary goals that contribute to the achievement of the overall enterprise target in a business enterprise. The managing director determines the type of operations to be carried out, the resources to be used, and the clients to whom to appeal.
1.2 Statement of Problem
The direction of interest in social responsibility as a corporate survival strategy by some commercial organisations in Nigeria, particularly in Akwa Ibom State, does not appear to respond to societal interests. Some company divisions appear to have a guiding plan for their social investing habits, despite claiming to be socially responsible.
Social responsibility as a corporate survival strategy has the potential to increase employment in society and alleviate some of the rising levels of blackness. Nigerian company appears to view social responsibility as a commercial survival strategy.
What appears to be lacking is a direction of effort to make it socially effective, as well as a national policy statement outlining a range of areas in a priority sequence so that business organisations can select and base philanthropic action to maximise benefit to the general public while also promoting their business.
1.3 Study Purpose
The primary goal of this research is to examine the fact that social responsibility is an organisational strategy for business sustenance, with a focus on determining whether or not the level of infrastructural provision can contribute to an organization’s survival and other purposes, as described below.
To identify and investigate banking institutions’ social actions and assess how they fit into the philosophy of social responsibility as a business survival strategy.
To identify the basic objectives for managing the area under study in terms of social activities.
To identify the fundamental issues that the organisation faces while attempting to implement a business social responsibility strategy.
Identify how their management uses social responsibility as a company survival strategy.
Investigate the relationship between social obligations and the corporate environment.
1.4 Research Questions.
The following are some of the fundamental questions posed about this.
Does the social actions of banking institutions serve as a survival strategy for businesses?
Does the organization’s management prioritise social responsibility?
Is there a relationship between social responsibility and the business environment?
Does the rise in the social sector have a substantial impact on the input and output levels of this organisation?
Is social responsibility a remedy for economic problems?
1.5 Research Hypotheses.
Ho represents the null hypothesis, and Hi represents the alternative hypothesis.
Hypothesis One
Ho: There is no link between providing social events as a strategy by the banking industry and corporate survival.
Hi: The banking industry‘s supply of social activities as a strategy and economic survival are inextricably linked.
Hypothesis two.
Ho: The organization’s management does not prioritise social responsibility.
Hi: Organisational managers prioritise social responsibility activities.
1.6 Significance of the Study
The researcher uses social responsibility as a survival strategy to ensure corporate survival. It is very important to the organisation because of the scientific sensitive role that productivity plays in an organisation.
The study is significant because the proper application of social responsibility in any organisation is a direct step towards improved performance and responsibility at various levels of authority. Without good responsibility in an organisation
the flow of information would be difficult, and the absence of social responsibility would result in flowing performance. The study is noteworthy because a better sense of social responsibility will undoubtedly benefit the people who come after it.
The study will enhance the researcher’s understanding of social responsibility as an organisational strategy for corporate sustainability.
The study will be extremely beneficial to the organisation under examination because it will give management with additional knowledge about social responsibility and the organization’s location.
It is also more important to other researchers because it will serve as a reference material for students who want to conduct research on a similar topic, and other users of this project will be able to analyse the situation in their organisation and apply the appropriate principles and techniques learned from this study to the situation in their own organisation.
1.7 Scope of Study
The primary problem or emphasis of this research work is on the role of social responsibility in the survival of commercial organisations in Nigeria, which contributes to the usefulness of social responsibility in the fulfilment of organisational goals and objectives.
The study will attempt to envision the organization’s position as it supplies social responsibility, as well as how this aspect might effectively benefit the organisation. The study emphasises on the fundamental role that social responsibility plays in providing relief to the overall working environment.
The research effort focuses equally on social responsibility as it affects an organization’s input and output levels. A broad disciplinary approach is also encouraged, and contributions are expected primarily from those who engage in social responsibility issues, principles, and practices.
As a social responsibility-based situation, the influence of the social environment on the entire public would depend on the relative strength of special valves developed by the organisation of structure vis-à-vis the valve of surrounding society
so we can claim that the organisation received back from the people what it had invested in them in terms of social and infrastructure support.
1.8 Limitations of the Study
Regardless of the topics of study addressed during the research, the study was significantly influenced by some limits that were unavailable due to the time limit.
Time constraints: The researcher was limited by the time available. This presented a threat to successful coverage of the study’s intended trajectory.
Financial constraints: Finance was another barrier that hindered the researcher’s efforts to provide a higher-quality project. The need of proper financing in any enterprise cannot be overstated.
1.9 Definition of Terms:
Social responsibility refers to the obligation of decision makers, such as markers, to take action that protects and improves welfare.
Profit maximisation: This refers to the responsibility of service industries to generate as much profit for their owners as possible.
Social responsibility refers to the obligation of service sectors to contribute to the betterment of society in a meaningful way through various philanthropic activities.
Opportunist group: There are various schools of thought that view profit maximisation as solely the responsibility of service industries.
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