An Assessment of the Impact of Corporate Social Responsibility on Nigerian Society: the Examples of Banking and Communication Industries

This report looks at the welfare of executing CSR, how to realize it and what are the diverse points of interest. Various relationships show their big-hearted acts and cover negative impacts will provoke grow association picture and agent engagement .Result exhibits that association those are focus on one social issue are pioneer in field. There is a risk in neglecting CSR, customer are more prepared and have extraordinary data. This conclusion is that if CSR is joined will be great position for an attachment. There will be augmentation in execution of connection it will build trust over customer. The recommendations are according to the accompanying:

Oil for over a decade has been the main source of income for the Nigerian economy. It accounts for more than 70% of export.The Niger Delta region of Nigeria has been plagued with different negative effects of oil exploration. The environment, economy and even quality of human life have been greatly affected. This has created a lack of trust between the inhabitants and the oil companies, and even with the Nigerian government.

Corporate social responsibility brings a new perspective to the societal role of enterprise, while recognizing the relationship between profitability, ethical and environmental standards of the company. The position of companies in society is a subject of constant change. People today do not perceive the company only as producers or suppliers of the products that reach only for maximizing profits, but they assume that the company will meet the requirements of the other areas as well, such as the legal environment and that it will support development of other activities beneficial for the society.

Corporate social responsibility, or CSR, has been conceptualized rather broadly as the managerial obligation to take action to protect and improve both the welfare of society as a whole and the interest of organizations. In recent years, corporate social responsibility has been becoming increasingly important and is held

Corporate social responsibility (CSR) as defined by Carroll (1979) refers to the inclusion of moral, lawful and economical obligations that is expected of a business by the society (Brtitzelmaier, Kraus 2012). Organisations are expected to act responsibly, but many would agree that their actions and policies do have a direct or indirect effect on the society at large and the environment. The success of most organisations is dependent on their corporate

Previous writing of corporate social responsibility, and it was cited to more often as a social responsibility(SR) than as (CSR) from several year. Perhaps this was because the age of the recent corporation’s prominence and dominance in the business sectors had not yet occurred or been note.The publication by Howard R. Bowen(1953) of his landmark book “Social Responsibilities of businessman” is debate to mark the beginning of the modern period of literature on this subject (Carroll, et al., (2008)).

Corporate social responsibility (CSR) is a concept which is also known as corporate citizenship, corporate conscience or in a simple way a responsible business. It is an integrated concept of self-regulatory business model for any organisation. Corporate Social Responsibility has been in practice for more than fifty years now, which has been adopted not only by domestic companies but also by transnational company with voluntary CSR initiatives (Chernev and Blair, 2015). It includes Corporate Social Responsibility for code of conduct, organisational health and environment, companies reporting on social, financial and environmental aspects, partnership with agencies, NGO’s and UN

Corporate Social Responsibility (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations.

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

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The Bank of America Corporation (Bank of America) is a bank and financial holding company that serves “individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with… bank and nonbank financial services and products.” (Reuters) Profiting $5.32 billion in the second quarter of 2015, Bank of America is one of the biggest banks in the United States and the world. (Rexrode & Rudegeair)

Department of Banking and Finance, Midlands State University, P Bag 9055, Senga, Gweru. 2 Department of Banking, National University of Science and Technology P O Box AC939, Ascot Bulawayo. 3 Department of Banking, National University of Science and Technology P O Box AC939,

MSc PROGRAMME DEPARTMENT OF BANKING AND FINANCE FACULTY OF MANAGEMENT SCIENCE SCHOOL OF POSTGRADUATE STUDIES ANAMBRA STATE UNIVERSITY

This dissertation is submitted in partial fulfillment of the requirements for the Degree in Marketing Practice