IMPACT OF SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE WITH PARTICULAR REFERENCE TO ECOBANK PLC, ENUGU
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IMPACT
OF SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE WITH PARTICULAR
REFERENCE TO ECOBANK PLC, ENUGU
TABLE OF CONTENTS
Title
page - - - - - - - - - i
Declaration - - - - - - - - ii
Approval
page - - - - - - - - iii
Table
of Contents - - - - - - - iv
CHAPTER
ONE: INTRODUCTION
1.1 Background to the Study - - - - - 1
1.2 Statement of the Problem - - - - - 4
1.3 Objectives of the Study - - - - - 5
1.4 Statement of Hypotheses - - - - - 7
1.5 Significance of the Study - - - - - 7
1.6 Scope of the Study - - - - - - 9
1.7 Limitation of the Study - - - - - 9
1.8 Historical Background of Ecobank Plc, Enugu - 9
1.9 Definition of Terms - - - - - - 14
CHAPTER
TWO: LITERATURE REVIEW
2.1 Concept of Corporate Social Responsibility - - 16
2.2 Background and Debate in Social
Responsibility - 18
2.3 Social Accounting in Organization - - - 21
2.4 Environmental Management Accounting - - 25
2.5 Minimizing the Threats of Social Costs and
Liabilities 28
2.6 Social and Environmental Failures - - - 29
2.7 Managing Professional Responsibility
through Case Studies 30
2.8 Arguments for and against Social
Responsibility - 31
2.9 Social Responsibility Vs Social
Responsiveness - 36
CHAPTER
THREE: RESEARCH METHODOLOGY
3.1 Research Design - - - - - - 38
3.2 Research Population - - - - - - 39
3.3 Sample Size and Sampling Technique - - - 40
3.4 Method of Gathering Data - - - - - 42
3.5 Justification for the Method Used - - - 43
3.6 Method of Data Analysis - - - - - 44
3.7 Justification for the Analysis Instrument
Used - 45
CHAPTER
ONE
INTRODUCTION
1.1 Background to the Study
An organization may be
profit oriented or non-profit oriented. The fact remains that every
organization is made up of four basic resources (i.e. man, material, money and
machinery) and its environment.
According to Weirich
and Koontz (1987) management is a process of designing and maintaining an
environment in which individuals working together in groups, efficiently
accomplish selected aims. The term ‘environment’ in this definition refers to
both internal and external environment. All organization have a two point
agenda to improve qualitative (the management of people and processes) and
quantitatively (the impact on society). The second is as important as the first
and stakeholders of every organization are increasingly taking an interest in
“the other circle” – the activities of the organization and how these are
impacting the environment and society.
Social responsibility
is an ethical ideology or theory that an entity be it an organization or
individual, has an obligation to act to benefit society at large. Social
responsibility is a duty every individual or organization has to perform so as
to maintain a balance between the economy and the ecosystem. The term
“corporate social responsibility” (CSR) came into common use in the late 1960s
and early 1970s after many multinational corporations formed the term
stakeholder meaning those on whom an organization’s activities have an impact.
It was used to describe corporate owners beyond shareholders as a result of an
influential book by R. Edward Freeman, Strategic Management; a stakeholder
approach in 1984. CSR is one of the newest management strategies where
organization’s try to crate positive impact on society doing business.
Corporate social
responsibility which is also known as corporate citizenship, corporate
responsibility or corporate social performance is a form of corporate
self-regulation which is integrated into a business model. Corporate social
responsibility tends to operate as a built-in, self-regulating mechanism under
which a business will monitor and ensure its compliance with law, international
norms and ethical prescriptions (Institute of Chartered Accountants of Nigeria
[ICAN], 2010). A business or organization assumes responsibility for the impact
of its activities on the environment. Thus, CSR is a process with the aim to
embrace responsibility for the organization’s actions and encourage a positive
impact through its activities on the environment, consumers, employees,
communities, stakeholders and all the members of the public sphere who may also
be considered as stakeholders succinctly a business or organization ahs to
proactively promote the interest of the public through voluntarily avoiding
activities which are harmful, regardless of legality.
According to Business
for Social Responsibility, Corporate Social Responsibility (CSR) is defined as
operating a business in a manner that meets or exceeds the ethical, legal,
commercial and public expectations that society has of business. On the other
hand, the European commission hedges its bets with two definitions wrapped into
one; CSR is a concept whereby companies decide voluntarily to contribute to a
better society and a cleaner environment. A concept whereby organizations
integrate social and environmental concerns in their business operations and
their interaction with their stakeholders on a voluntarily basis. Each of these
definition when reviewed broadly agree that CSR now focuses on the impact of
how you manage your core business. However some go further than others in
prescribing how far organizations beyond managing their own impact into the
terrain of acting specifically outside of that focus to make of contribution to
the achievement of broader societal goals.
1.2 Statement of the Problem
It is quite
unfortunate that there is no clear-cut definition of what corporate social
responsibility (CSR) comprises. Every organization ahs different CSR
objectives, though the motive is the same. But it becomes more complex and
depicts a key difference, when many business managers (leaders) feel that their
organizations are ill-equipped to pursue broader societal goals, and activists
argue that organization have no democratic legitimacy to take such roles.
Critics have argued
that corporate social responsibility distracts from the fundamental economic
role of business, others argue that it is nothing more than superficial
window-dressing; others argue that it is an attempt to pre-empt the role of
government as a watching over powerful tricorp corporations. Therefore, a trade
off always exists between economic development in the material sense, and the
welfare of the society and environment. To sustain he equilibrium between the
two, the researcher deem it necessary to assess the impact of social
responsibility on organizational performance of Ecobank Plc, Kadpoly branch, Enugu.
1.3 Objectives of the Study
i)
To
assess the effect of social responsibility on organization’s productivity.
ii)
To
help Ecobank Plc, Kadpoly – Enugu sustain the equilibrium between corporate
economic development and the welfare of its environment and society.
iii)
To
enumerate the benefits of corporate social responsibility on organizational
performance in the long run.
iv)
To
identify the social responsibility efforts of individuals towards the success
of collective group of corporate social responsibility.
v)
To
ascertain the ethical involvement and commitment of Ecobank Plc Enugu in social
responsibility strategy and ideology.
vi)
To
assist Ecobank with rational information on concept of responsibility to be
imbibed in its corporate organization’s activities.
vii) To bring to limelight the use of
ethical decision making strategy in securing organization’s business/interest
by making decisions that allow for government agencies to minimize their
involvement with the corporation.
viii) To also assist preventing and
condemning the use of social responsibility as a tool for superficial
window-dressing mechanism.
1.4 Statement of Hypotheses
According to ICAN
(2006), hypothesis is a statement of logical guess, which reflects the
possibility in the occurrence of an event under investigation. In an attempt to
reach a rational inference on the research problems identified, the following
hypotheses have been formulated:
H0: Effective and efficient social
responsibility strategy does not enhance the productivity level of an
organization.
H1: Effective and efficient social
responsibility strategy enhanced the productivity level of an organization.
1.5 Significance of the Study
The research work will
help in bridging the gap between corporate economic development of Ecobank Plc,
Enugu and the welfare of its environment and society at large.
This study when
applied will contribute immensely to organizational performance of Ecobank Plc,
Enugu both in the short-run and long-run.
This research work
when applied appropriately will promote and enhance the self-regulation
strategy of social responsibility, thus reduce government regulations and
involvement in the business of organizations.
This study when fully
adopted will be of great importance to customers, society and environment in
which Ecobank, Kadpoly Enugu operates since its social responsibility impact will
influence the lives of these customers and society positively.
This research project
when fully implemented will find the interstices of win/win solutions among
organization’s stakeholders in a mutually beneficial manner.
It is the researcher’s
believe that at the end of this research work, the findings, conclusion and
recommendations arrived at will be instrumental in the social responsibility
policy of Ecobank Plc, Enugu.
This study will also
add to existing body of knowledge on the subject matter, thus serve as a
reference material or future studies on the topic of discussion.
1.6 Scope of the Study
This study encompasses
the impact of social responsibility on organizational performance with special
reference to Ecobank Plc, Kadpoly branch, Enugu.
1.7 Limitation of the Study
In the course of this
research work, the researcher is faced with the challenge of time-limit and
financial inadequacy as major constraint factor. But, to God almighty as his
timely intervention provides a suitable panacea and succor arrested the
situation.
1.8 Historical Background of Ecobank Plc, Enugu
Ecobank Transnational
Incorporated (ETI) a public limited liability company was established as a bank
holding company in 1985 under a private sector initiative spearheaded by Federation
of West African Chambers of Commerce and Industry with the support of ECOWAS.
In the early 1980s, the banking industry in West Africa was dominated by
foreign and state-owned banks. There were hardly any commercial banks in West
Africa owned and managed by the African private sector. ETI was founded with
the objective of filling this vacuum.
The Federation of West
African Chambers of Commerce promoted and initiated a project for the creation
of a private regional banking institution in West Africa. In 1984,
Ecorpromotions S.A. was incorporated. Its founding shareholder raised the seed
capital for feasibility studies and the promotional activities leading to the
creation of ETI.
In October 1985, ETI
was incorporated with an authorized capital of US$100 million. The initial paid
up capital of US$32 million was raised from over 1,500 individuals and
institutions from West African countries. The largest shareholder was the
ECOWAS fund for Cooperation, Compensation and Development (ECOWAS Fund), the
development finance arm of ECOWAS. A headquarters agreement was signed with the
government of Togo in 1985 which granted ETI the status of an international
organization with the rights and privileges necessary for it to operate as a
regional institution, including the status of a non-resident financial
institution. ETI commenced operations with tis first subsidiary in Togo in
March, 1988.
Mission and Vision
The dual objective of
Ecobank Transnational Incorporated (ETI) is to build a world-class pan-African
bank and to contribute to the economic and financial integration and
development of the African continent.
The Ground Story
Today, Ecobank is the
leading pan-African bank with operations in 32 countries across the continent,
more than any other bank in the world, it currently operates in countries in
West, Central, East and Southern Africa namely Angola, Benin, Burkina Faso,
Burundi, Cape verse, Cameroon, Central African Republic, Chad, Congo
Brazzaville, Democratic Republic of Congo, Cote d’Ivoire, Equatorial Guinea,
Gabon, Ghana, The Gambia, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali,
Niger, Nigeria, Rwanda, Sao Tome & Principe, Senegal, Sierra Leone,
Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group also has a licensed
operation in Paris and representative offices in Johannesburg, Dubai and
London.
Ecobank Today
Ecobank is the leading
pan African banking group in Africa with a presence in more African countries
than any other bank. In all the markets in which we operate, we are recognized
as one of the leading banks, providing a full range of wholesale, retail,
commercial, investment and transaction banking services and products. To
achieve thus, we have implemented an international technology and Shared
Services Centre in Accra to provide standardized and automated transaction
processing on a 24/7 basis to all affiliates of the Ecobank Group. The centre
also has an integrated telecoms network which provides 24/7 connectivity, thus
ensuring reliability of its products and services. Our range of banking
products and services to individuals and corporate includes:
* Current Account *
Personal loan * LCs and Bills for Collections * Savings Account * Car and motor
loan ** Transfer and payments * Cards * Mortgages (Home Loan) * Foreign
Exchange *Deposit Account * Business Loan * Western Union
Our customers include
governments and government agencies, multinational, regional, multilateral and
financial institutions, local companies and medium, small and micro enterprises
and consumers.
As a group, our
strategy is to build scale through organic growth and acquisitions; grow our
businesses in existing markets and expand into new markets, product and
customer segments and, deliver improved efficiency through operational and product
excellence and superior customer service. To achieve thus, we have established
“One bank everywhere you go” Ecobank operates as “One bank” with common brand,
standards, policies and processes, which means you get a consistent and
reliable service across its network of over 600 branches, offices and over 600
alliances locations.
Our objective is to
create superior shareholder value in 2014. Above all, Ecobank enforces
management standards and policies in the areas of ethics, anti-money
laundering, conflict of interest and corporate governance. These policies and
standards are periodically reviewed to reflect local requirements and changes
in international practices. Ecobank, today is considered by customers and
investors as the leading pan-African bank.
1.9 Definition of Terms
Corporate Governance: Is defined as “the set of mechanisms
through which outside investors are protected from expropriation by insiders
(including management, family interests and/or governments)” (Nganga, Jain
& Artivor, 2003).
Corporate Social
Responsibility:
“Is the continuing commitment by business to behave ethically and contribute to
economic development while improving the quality of life of the workforce and
their families as well as of the local community and society at large” (Home
& Watts, n.d).
Ethics: Are morale that delineates expectation
for social behaviour according to contemporary conventional norms within a
society, social class, group or organization.
Strategy: Is the act of mapping out best way of
achieving an objectives through calculated and systematic programme.
Window-Dressing: Also known as creative accounting or
cosmetic financial reporting is the situation/act of deliberately or
intentionally falsifying accounts with the views of overstating performance of
a business.
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