TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
1.2 Statement of the Problem
1.3 Research Objectives
1.4 Research Questions
1.5 Significance of the Study
1.6 Scope of the Study
1.7 Limitation of the study
1.8 Structure of the study
CHAPTER TWO
LITERATURE REVIEW
2.0 Introduction
2.1 Concept
of Corporate Social Responsibility (CRS)
2.2 The History of Social Responsibility
2.3
REASONS FOR THE ADOPTION OF CSR BY
ORGANIZATIONS
2.3.1
Growing Investor Pressure
2.3.2
Competitive Labour Markets
2.3.3
Supplier Relations
2.3.4
Ecological Responsibility
2.3.5
Business Ethics
2.3.6
Corporate Governance
2.4 The
Nexus between Corporate Community Investment and Corporate Social
Responsibility
2.5
Theories of Corporate Social
Responsibility
2.5.1
The classical Economic Theory
2.5.2
The Systems Theory
2.6 Community Development
2.7 Common Roles of CSR in
Community Development
2.8 Corporate Social Responsibility
in Ecobank Nigeria
2.9 Empirical Literature
CHAPTER THREE
RESEARCH METHODOLOGY
3.0 Introduction
3.1 Research
Design.
3.2 Study Population
3.3 Sample Size And Sampling Techniques
3.4 Research Instrument
3.5 Instrument For Data Collection
3.6 Sources Of Data Collection
3.7 Validity Of Research Instrument
3.8 Reliability Of Research Instrument
3.9 Method Of Data Analysis
CHAPTER FOUR
DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.1
Introduction
4.2
Data
Presentation And Analysis
4.3 Test of Hypothesis
4.3.1
Restatement of Hypothesis
CHAPTER
FIVE
SUMMARY,
RECOMMENDATION AND CONCLUSION
5.0 Introduction
5.1
Summary of Findings
5.2 Conclusion
5.3 Recommendation
REFERENCES
CHAPTER ONE
INTRODUCTION
1.1 Background to the
Study
Today, companies are faced with
societal pressure and there is a paradigm shift in the perception of
stakeholder that companies is expected to act as a responsible citizen towards
their community. And that community development is part of the socio corporate
responsibility of the company. This therefore necessitated the changes in the
way most company’s act toward developing the community in which they operate.
Corporate community development or corporate social responsibility has thus
become part of the corporate social responsibilities of all companies in both
developed and developing countries of the world.
Corporate social responsibility as a
concept entails the practice whereby corporate entities voluntarily integrate
both social and environment upliftment in their business philosophy and
operations (Emmanuel Ocran 2011). Although corporate social
responsibility means different things to different people, but despite the
fluidity of the concept, I hereby subscribe to the definition of Michael Hopkins (2004) that CSR is
concerned with treating the stakeholders of the firm ethically or in a
responsible manner. ‘ethically or responsible’ means treating stakeholders in a
manner deemed acceptable in civilized societies. Social includes economic
responsibility. Stakeholders exist both within a firm and outside. The natural
environment is a stakeholder.
More so, the wider aim of social
responsibility is to create higher and higher standards of living, while
preserving the profitability of the corporation, for peoples both within and
outside the corporation. CSR therefore involves a business identifying its
stakeholder groups and incorporating their needs and values within the
strategic and day-to-day decision-making process, thus a means of analyzing the
inter-dependent relationships that exist between businesses, the economic
systems and the communities within which they are operating.
A search of literature reveals that
corporate community development is a prerequisite for enhancing corporate
image. Jeremy Moon and Judy Muthuri
(2004) opined that corporate community investment has a wide range of
benefits from enhancing company’s image and reputation to increased skills
development of employees and increase financial income to charities. Godfrey,
(2005) cited in Jeremy and Judi (2004) acknowledged that engaging in community
investment is seen as the „right thing to do‟ and helps to build a firm’s moral
and reputational capital. It further says that community development program
can help lower transaction costs, enhance social legitimacy and preserve the
license to operate. Community investment contributes to improving the
companies‟ public image, brand identity Rochlin and Christoffer( 2000).
In his analysis on why companies engaged in
corporate social responsibility Michael
Hopkins (2004) argues that “companies that are socially responsible in
making profits also contribute to some, although obviously not all, aspects of
social development. Every company should not be expected to be involved in every
aspect of social development that would be ludicrous and unnecessarily
restrictive. But for a firm to be involved in some aspects, both within the
firm and on the outside, will make its products and services (for example
financial services) more attractive to consumers as a whole, therefore making
the company more profitable, there will be increased costs to implement CSR,
but the benefits are likely to far outweigh the costs.”
Studies have shown many companies
engaged in corporate social responsibility in the Uk and other developed
country of the world. Following the historical analysis of corporate community
investment trends in the Uk companies, one would see the likes of compass
group, yell group, Sainsbury Plc, Northern Rock Plc to mention few, all these
companies have tailored their community involvement initiatives to meet the
needs and aspirations of their individual clients, and at the same time those
of the group (Jeremy and Judi 2004).
In Nigeria, most multinational
companies were equally involved in one forms of corporate social responsibility
or the other. The likes of chevron oil company, NNPC, Agip oil etc are living
examples in this regard.
This study is another examination of
the company involved in corporate social responsibility in Nigeria. This
research therefore examines the effect of Ecobank cares community development
program in the image making of the bank within the period 2009-2013.
Since the inception in 1986, Ecobank
Nigeria, a subsidiary of Africa’s leading independent banking group, Ecobank
transnational incorporated (ETI) has engaged in corporate social responsibility
activities through which it reaches out to touch its host community and the
lager society. Ecobank prides itself as an organization that is consistently
give back or contribute effectively towards the society in which the bank
operates. The area which features Ecobank interest towards corporate social
responsibility includes entrepreneurial development especially in rural
communities, education, health and community development at large.
Among the highlights of corporate
social responsibility of Ecobank activities in Lagos state in the year
2007-2013 is the donation to Neuro-psychiatric hospital Yaba, Lagos in support
of hospital project (centenary celebrations). Ecobank in the same year also
donates Hilux double cabin buses to Lagos state government to Combact crimes.
Similarly in 2008, Ecobank
contributes to support WODEF (women optimum development foundation),
sponsorship of entrepreneur TV series, and sponsorship of the idols West Africa
among others. Ecobank did not relent in its effort to contribute to the
development of its immediate environment.
In 2010, Ecobank featured in the renovation of kings college hall in
Lagos, equally promoted a project called Ecobank cares through donation to
orphanages. For human capital development and the advancement of the overall
Nigerian economy, the education sector has continually received support of the
bank.
In 2008, the bank
partnered with the Lumia foundation as sole sponsors of the Wole Soyinka
literary youth awareness project to the tune of #9,000,000.00(nine million
naira). The project saw to the distribution of free books to selected
underprivileged schools within Lagos; awards to amateur writers and many more.
From the foregoing, it is expected that these
entire aforementioned project carried out by Ecobank towards its immediate
environment is of their corporate social responsibility and therefore expected
to have enhanced company’s image both within and outside the country. The
interest of the researcher therefore is to determine if all above mentioned
community development initiatives or corporate social responsibility has any
impact on the image of the bank.
1.2 Statement of the
Problem
The essential roles of
corporate social responsibility to the survival of the company and its
stakeholder cannot over-emphasize. The community in turn has the expectation
that company will take active steps to assist solve some of its social
problems. As such, Ecobank Nigeria (Ikorodu, Lagos Branch) had taken corporate
social responsibility as corporate philanthropy aimed at addressing
socio-economic development challenges of the people in its immediate community.
This is seen in the various community development program embarked upon by the
company. But then the question remain
that, what impact does this program have on the image of bank?
It is against this
background that motivates the interest of the researcher to find out how
corporate social responsibility of the Ecobank impacted on the image of the
bank between (2009-2013).
1.3 Research
Objectives
The overall objectives of
this study is to examine what extent Ecobank carries out its corporate social
responsibility on Ikorodu community in Lagos state and examine this how has
impacted the image of the company.
Specific objectives
include:
·
To examine the corporate social
responsibility policy of Ecobank.
·
To investigate the motives behind Ecobank
to carry out its community cares program in the local community
·
To examine various types of program
carried out by Ecobank in Ikorodu community.
·
To examine the perception of the Ikorodu
inhabitants towards the various corporate social responsibilities programs of
Ecobank.
·
To
investigate how corporate socio responsibility program of Ecobank influenced
the image of the bank.
1.4 Research
Questions
For
the purpose of this study, the following questions were put forward;
·
What does Ecobank corporate social
responsibility policy contain?
·
What motivates the company to carry out
its community cares program in the local community?
·
What are the various types of program
carried out by Ecobank in Ikorodu community?
·
How does an Ikorodu inhabitant perceive
towards the various corporate social responsibilities programs of Ecobank?
·
How
does corporate socio responsibility program of Ecobank impact the image of the
bank?
1.5 Significance
of the Study
To
start with, my propelling interest in choosing this topic was the view that
company needs to be seen by the local community as the supportive of the social
environment in which they operate. There is equally a growing concern and
expectation from the community about the need for company to engage in
corporate social responsibility activities where they operate. A local
community has a strong impact on the on the survival of business since business
derives some of its input from like human capital from the community.
Therefore, there is need
to examine or investigate the extent to which corporate social responsibility
has impacted the community and how the programs have enhanced the image of the
company. This research will go a long way in showing the nexus and increased
the relationship between company and the community in which they operate. This
study is equally justified on the ground that it will serve book of reference
to most managers and stakeholders of multinational companies to always see CSR
as part of their social activities. This finding of this study will serve as crystal
guide to scholars, researcher and students who might want to further study on
this topic.
1.6 Scope of the
Study
This study is not
expected to span beyond investigating the impact of Ecobank cares community
development program otherwise known as CSR in Ikorodu Lagos state. It therefore
examines the Bank programs within the period 2009-2013.
1.7 Limitation of
the study
There are some
anticipated hiccups and challenges which may constitutes the difficulties to
the credibility of this research study, this may include the openness and
frankness of the management of Ecobank and other stakeholders from the community
in addressing the question posed to them. Equally, finance and time frame
allotted for this study is equally a limitation to the credibility of this
research.
1.8 Structure of the
study
This research is
structured into five chapters. Chapter one covers the background to the study,
statement of the problem, research objectives, research questions scope and
limitations of the study. In chapter two, an attempt will be made to review all
existing literatures and theoretical framework underpinning such concept as
CSR, why company needs to engage in it as well as various theories such as
classical business theory, social contract theory, etc. Various CSR programs of
the bank will also be reviewed. Chapter three will therefore discuss the
research methodology adopted for this study. while chapter analyses all the
result of the collected for this study, chapter five which is the final chapter
shall summarizes, conclude and make meaning recommendations.
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