Research Articles Base: CSR Impact Sustainable Business Operation In Nigeria

How Does CSR Impact Sustainable Business Operation in Nigeria? Case Study: UBA Bank

How Does CSR Impact Sustainable Business Operation in Nigeria? Case Study: UBA Bank Introduction Every organization in both developed and developing countries are committed to provide adequate solution in the society according to what is really needed. The commitment of a firm in the community and to the entire nation is called the corporate social responsibility or CSR wherein most of the organizations based their business actions and strategies. The responsibility of the organization towards the society should be synchronized with the organizations functions and nature of operation for its easy and continuous practice.     Background and Problem Statement In the aim of the firms to gather the advantages towards the competitiveness, the responsibility should be firstly placed on their corporate objectives. Strategies are generated according to the assessment and need of the organization to improve their performances. The flexibility or the ability of the organization to answer the circumstances presented by the economic uncertainties can be comprised by their corporate strategies. But the promotion of the values and key initiatives in terms of the application of CSR has a great contribution in developing the competitive market and business operation.    Research Aim and Objectives The main aim of the study is to recognize the impact of CSR towards the sustainable business operation particularly in banking sector and its operation in Nigeria. In order to give the details regarding the said topic, there are three objectives centralizing the idea of CSR and its impact. First is to define the CSR and the benefits that it can bring to the market, society, and business sector. Second, is to describe the use of the CSR in terms of its application on business’s strategies. And third is to deliver the essential idea regarding the various corporate actions in sustaining the business operation.   Literature Review Corporate social responsibility (CSR) is recognized as an essential element of present and future social policies.  CSR is considered as a strategy that aims to develop the multinational economic and financial groups that is needed in global market economy or firms that going through serious of internal crisis. For over the years, the CSR is adopted by various organizations as an replacement for many socially and ethically irresponsible practices and can aid to avoid or lessen the possibilities of bankruptcies, fraudulent actions, and to emphasize the importance of the professional codes and basic working values. The CSR accommodates a wide variety of achievements and initiatives that covers the moral and ethical concerns such as the code of conduct and good governance and it aims to deliver the positive impact on society through a socially responsible conduct. Most of the high lightened program that includes in the integration of the organization with the CSR is to provide social and environmental concerns through establishing a strong relationship with stakeholders (Fonteneau, 2003). Organizations increase their contribution to society and to sustainable development by using the CSR in covering the immediate operations and legal obligations, such as safety in the workplace, employment policies and environmental protection (Noon, 2008). A business can recognize the role of the CSR in pushing initiatives that might contribute to the development of the communities in which the business operates (Perigot, 2003). A good and sound decision by the corporate leaders can be also incorporated through the CSR because it promotes the business ethics that draw interest in business society (Sims, 2003). With the ability of the organizations to face the issues and problems pose by the economic uncertainties and other financial crunches, the essence of CSR may reflect in the organization’s core values and overall principles (Fry, 2005). The idea of CSR is not necessary to give the businesses their own set of strategies but to help the leaders remember that the society receives the various influences or impacts coming from their operation. The heart of CSR lies in the idea of being responsible towards the improvement and effectiveness of both firm and the society. Methodology The suggested method in the study is the use of the secondary data obtained from the UBA Bank which is the center of the study. Secondary information is possible by gathering the previous survey and interview conducted in the bank, business plan overview, CSR report, and other essential report and information which deliver the same account for CSR and their commitment for both society and organization. The investigation of the study centers in the information provided by the organization and its affiliations such as the IMF (International Monetary Fund) and/or ADB (Asian Development Bank). With the use of this practice, the concentration and effectiveness of CSR can be identified.      References: Fonteneau, G., (2003) “Corporate Social Responsibility: Envisioning its Social Implications. The Jus Semper Global Alliance”, Living Wages North and South, Accessed 15 June 2010, from http://www.jussemper.org/Resources/CSRsocialimplications.pdf Fry. L., (2005) “Toward A Theory of Ethical and Spiritual Well-Being, and Corporate Social Responsibility through Spiritual Leadership”, IA249-Giacalone Book, Accessed 15 June 2010, from http://www.tarleton.edu/~fry/SLTEthics.pdf. Noon, P., (2008) “Corporate Social Responsibility”, Negotiator’s Guide, Accessed 15 June 2010, from http://www.world-psi.org/TemplateEn.cfm?Section=Home&Template=/ContentManagement/ContentDisplay.cfm&ContentFileID=23044 Perigot, F., (Pres.) (2003) “An International Organization of Employers Approach: Adopted by the Management Board”, Accessed 15 June 2010, from http://www.ioe-emp.org/fileadmin/user_upload/documents_pdf/papers/position_papers/english/pos_2003march_csr.pdf Sims, R., (2003). “Ethics and Corporate Social Responsibility: Why Giants Fall”, Westport, Praeger, p. 4-6     Credit:ivythesis.typepad.com

How Does CSR Impact Sustainable Business Operation in Nigeria? Case Study: UBA Bank

How Does CSR Impact Sustainable Business Operation in Nigeria? Case Study: UBA Bank Introduction Every organization in both devel...