ANALYSIS OF SOCIAL RESPONSIBILITY AND ITS EFFECTS ON BUSINESS ORGANIZATION

ANALYSIS OF SOCIAL RESPONSIBILITY AND ITS EFFECTS ON BUSINESS ORGANIZATION

EXCERPT FROM THE STUDY

There is no doubt given the findings of this study, that corporate social responsibility performance plays significant role in improving the performance of business organization as a whole. It should however be noted that for the company to be more responsive in assisting the society in the provision of viable social services, management must step up its more basic mission of maximizing profits. With social responsibility obligation in view, management team will step up their drive towards making better profit day-in-day-out with which other objectives can be met conveniently.

Findings from the study showed that there is a significant  effect of CSR on business organization judging  at 0.05 level of significance, given at 2 degree of freedom, with table critical value of  5.991 and calculated value of 12.2, the alternate Hypothesis was accepted.The result of the finding revealed that CSR aids in better brand recognition, aids in organization’s reputation enhancement, enhances recruitment and retaining of high workers, increases sales of product, improves customer loyalty and  enhances banks business insight.

Findings of the study also revealed the hindrances of organizations' social responsibility where all the respondent said yes that those challenges includes: Lack of stakeholders awareness on CSR plans, Lack of transparency, Undue pressure from shareholders, Lack of regulations and standards, Uncontrollable clashes between business responsibilities and ethical responsibilities and lack of social audit and company culture.Thus there is need for CSR policies to be incorporated in organizations strategic goal.

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