IMPACT OF SOCIAL RESPONSIBILITY ON THE SURVIVAL OF AN ORGANIZATION
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IMPACT OF SOCIAL RESPONSIBILITY ON THE SURVIVAL OF AN ORGANIZATION
Chapter one
INTRODUCTION
1.1 Background of the Study.
Social responsibility is described as the realisation that an organization’s or company’s activities have an influence on society as a whole, and that impact is taken into account when making organisational decisions.
As a result, organisations should feel a feeling of responsibility for the communities in which they operate, given the negative impact of their production operations on these areas. Some of these negative effects include health risks, displacement of human settlements, and environmental contamination.
Social responsibility may also be defined as an ethical theory that states that an entity (organisation or individual) has an obligation to act in a way that benefits society as a whole. Social responsibility is an obligation that every individual or organisation must do in order to keep the economy and the ecosystem in balance.
These social obligations must maintain the balance between society and the organisation in order for the organisation to survive and be productive. It applies not only to corporate organisations, but to anyone whose actions have an impact on the environment.
This responsibility can take the form of providing infrastructure for the host community, scholarships for their children, decent health care facilities, schools, good roads, portable water, power, and support for sports and culture, among other things.
It could also be passive by refraining from engaging in socially destructive acts or actions and instead conducting activities that directly advance social goals.
Businesses, in addition to participating in community development activities that contribute to national development, are a part of the society’s socioeconomic structure. This is accomplished by making available what society can use to meet its product demands.
Furthermore, when using products or services that may have a negative impact on customers (for example, cigarettes and medical treatments), organisations are responsible for educating users on how to use them correctly in order to avoid side effects. When organisations subscribe to the terms of social responsibility, they can operate smoothly within society.
1.2 Statement of Problem
The discussion about the justification for social responsibility has heated up in recent years, particularly among classical economists and environmentalists, business owners, and their stakeholders, among others.
While some businesspeople regard social responsibility as an essential component of their activities, others believe it is completely superfluous and damaging to the growth and efficiency of the corporate organisation.
The organisation encounters several issues while fulfilling its social responsibilities to its host communities, which have a negative impact on the organization’s production. Such issues tend to disrupt the free flow of the organisation in the communities in which it operates.
The social value of some communities in which the organisation operates has an impact on the organization’s smooth operation in terms of culture and beliefs.
Most businessmen have been generally oblivious or have actively distanced themselves from the problems unique to the locations in which they live and amass their money. Some commercial organisations lack the management and financial means to carry out social responsibilities.
Furthermore, most organisational managers lack fundamental notions and concepts about social responsibility. Despite these factors, it is unclear if social responsibility can reduce or increase organisational productivity
or whether it can make or break an organization’s overall growth and survival. Given this uncertainty, it is important for this study to investigate the relationship between social responsibility and organisational production and survival.
1.3 Study Purpose
After understanding the difficulty inherent in this research topic, the following are the objectives of the study:
To investigate the relationship between social responsibility, organisational productivity, and survival.
To determine the benefits of social responsibility to organisations and individuals.
To investigate the impact of social responsibility on organisational efficiency and production.
To determine whether the organisation should engage in social responsibility.
To examine the issues surrounding social responsibility and provide solutions to them.
1.4 Research Questions.
The following are the questions made about this study:
Is there a relationship between social responsibility and organisational productivity?
Is there any profit to carrying out social responsibility?
How does social responsibility affect organisational efficiency?
Should an organisation take on social responsibility?
What are the barriers or issues related with social responsibility?
Why and who should profit from the organization’s social responsibilities?
What can the government do if organisations fail to meet their social responsibilities?
What legal basis enables the organisation to carry out its social responsibilities?
This book aims to answer these and many other questions.
1.5 Research Hypothesis.
The following are the research hypotheses derived from this effort. A research hypothesis aims to investigate or interpret the link between two variables. Ho represents the null hypothesis, and Hi represents the alternative hypothesis.
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