An assessment of corporate social responsibility on market reputation: Evidence from an oil company in Kaduna.
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Background of the study:
Corporate social responsibility (CSR) has become a pivotal element in shaping market reputation, particularly in industries with significant environmental footprints, such as the oil sector (Abubakar, 2023). In Kaduna, oil companies are under increasing scrutiny regarding their social and environmental practices, prompting a re-evaluation of CSR initiatives (Hassan, 2024). This study assesses how comprehensive CSR strategies influence the market reputation of an oil company. The research investigates the alignment between corporate policies and stakeholder expectations, emphasizing transparency, accountability, and community engagement (Mustapha, 2023). The study examines the historical evolution of CSR practices in the oil industry and how these practices have adapted to contemporary challenges, such as environmental degradation and social inequality (Bello, 2024). Through a critical analysis of communication channels and stakeholder feedback, this study reveals the extent to which CSR efforts can mitigate negative perceptions and enhance corporate legitimacy. The dynamic interplay between corporate actions and public opinion is explored in depth, offering insights into the strategic benefits and limitations of CSR in a highly contested industry (Sani, 2023).
Statement of the problem:
Despite the theoretical benefits of CSR, the oil industry in Kaduna faces challenges in effectively translating these initiatives into a positive market reputation. Stakeholders often remain skeptical about the authenticity of CSR efforts, perceiving them as mere public relations exercises rather than genuine commitments to social and environmental betterment (Yusuf, 2023). The study seeks to identify the gaps between CSR practices and stakeholder expectations. Furthermore, there is insufficient empirical evidence regarding the direct relationship between CSR activities and improvements in market reputation, leaving companies uncertain about the return on investment in these initiatives (Garba, 2024). The lack of transparent performance metrics and inconsistent stakeholder engagement further complicates the assessment of CSR effectiveness (Kabir, 2023).
Objectives of the study:
To evaluate the impact of CSR initiatives on the market reputation of an oil company in Kaduna.
To identify stakeholder perceptions regarding the authenticity of CSR practices.
To recommend strategies for enhancing CSR effectiveness.
Research questions::
How do CSR initiatives affect the market reputation of the oil company?
What are the stakeholder perceptions of the company’s CSR efforts?
How can CSR practices be improved to enhance market reputation?
Significance of the study
This research is significant as it provides oil companies with critical insights into the effectiveness of CSR in improving market reputation. It offers actionable recommendations for bridging the gap between corporate practices and stakeholder expectations, thereby contributing to a more ethical and transparent industry environment (Ibrahim, 2024).
Scope and limitations of the study
The study is limited to examining CSR initiatives of a single oil company in Kaduna and their impact on market reputation. It does not extend to comparative analyses with other industries or regions.
Definitions of terms
Corporate social responsibility (CSR): Business practices involving initiatives that benefit society and the environment.
Market reputation: The public perception and credibility of a company.
Stakeholder: Any individual or group affected by the company’s operations.
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