THE INFLUENCE OF STRATEGIC CORPORATE SOCIAL RESPONSIBILITY ON BUSINESS PERFORMANCE
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- NGN 3000
Abstract:
The objectives of this study are to (1) evaluate the impact of strategic corporate social responsibility (CSR) on business performance, (2) identify the key CSR initiatives that drive performance, and (3) assess the relationship between CSR and corporate reputation. A survey research design was employed to gather detailed insights from a large sample. Using Taro Yamane's formula, a sample size of 365 respondents was selected to ensure statistical significance. The research was conducted among oil and gas companies in Lagos, Nigeria, known for their CSR activities. The reliability coefficient score of the survey was 0.89. The findings indicate that strategic CSR significantly enhances business performance by improving corporate reputation, increasing customer loyalty, and promoting employee engagement. Recommendations include integrating CSR into core business strategies, regularly evaluating the impact of CSR initiatives, and engaging stakeholders in CSR planning and execution.
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