THE IMPACT OF COMPANIES’ SOCIAL RESPONSIBILITY ON THE DEVELOPMENT OF THEIR HOST COMMUNITIES
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Introduction
Introduction
1.1 Context of the Study
Profit maximization was viewed as the primary mission and overarching economic motive of all business enterprises. Little or no consideration was given to the fact that, in pursuit of their profit objective, business enterprises must assemble resources from their local environment and have a stable sociopolitical and investment climate in order to operate successfully. It is only reasonable that, if commercial organizations depend on society for their survival, this environment be acculturated and fostered to ensure its longevity. In this regard, the orientation of the modern business manager has shifted to reflect the increasing interdependence between organizations and their environments. Moreover, there is a growing public expectation that businesses should actively contribute to the well-being and sustainability of the communities in which they operate and generate profits.
However, the purpose of founding a firm is to supply consumers and society with competitive goods and services. This does not mean, however, that their commitment to the people, particularly the host community where the enterprise is located and operated, has been fulfilled.
Although there is no regulation dictating what services the host community should receive from the business, it is morally obligated to provide at least for the host community. This is accomplished by assisting in the development of infrastructures such as access roads, the provision of potable water for home use, and the provision of power to the local population, if necessary. Other types of services that could be provided for the youth of that town, in addition to the supply of gainful jobs for college graduates.
There are many other services from which the host community can benefit, such as the provision of safety measures against air or water pollution. On the other side, the firm also depends on the local population for continuous patronage and for assuring the safety of its non-native personnel and their property. Therefore, the acknowledgment by businesspeople of the necessity to consider the greater welfare of society while conducting business is the foundation of social responsibility.
1.2 Identification of the Problem
This research aims to resolve, among other issues, the controversy surrounding the public demand that businesses should actively contribute to the well-being and welfare of the community and societal environment in which they operate and generate a profit. Does corporate social responsibility play a role in the overall marketing efforts of commercial organizations and enterprises?
Does business social responsibility contribute to the company’s overall revenue? “SHELL PORT-HARCOURT”: Is the notion that corporate enterprises do not need to be socially responsible to their society true or false? What benefit does corporate social responsibility have for the broader public? The issue addressed by this study is the responsiveness of companies to social responsibility.
1.3 Scope of the Research
In regard to this project, the scope of businesses’ social duties focuses on the obligations they have willingly imposed on themselves to maintain the survival of the system in which they thrive. To provide the reader with a solid foundation from which to see all of the consequences of the social obligations of business, it is vital to evaluate these responsibilities from the perspectives of consumers, employees, and the general public of Port Harcourt.
The limitations of this study are time and money limits. As a result of the difficulty in getting data from other companies, Port Harcourt was chosen as a case study.
This restricts the potential of the research’s conclusions to be generalized to Port Harcourt and no other company in the country.
Another issue was the scarcity of relevant material and the absence of shell publications in libraries. Due to the recent events surrounding the topic of study, there are no reliable and up-to-date statistical data available.
1.4 Objective of the Research
This research was undertaken with the following primary goals in mind:
a. In partial completion of the requirements for the award of B.Sc in the department of Business Administration at Oduduwa University, Ipetumodu, Ile-Ife.
b. Examine and assess the extent to which the firm shell company has contributed to the growth of Port Harcourt in response to business social responsibility.
c. Investigate the causes of business enterprise apathy regarding corporate social responsibility’s contribution to the growth of its host community.
d. To promote the resolution of business social responsibility issues for the betterment of her host community.
1.5 Investigative Questions
This research aims to provide responses to these questions.
a. Does the social responsibility of business organizations contribute to the community’s growth?
b. How has the corporation fulfilled its social responsibilities in the community?
c. To determine the extent of this policy’s execution, as well as the problems, arguments, and challenges the firm has in carrying out its social responsibilities in its host community.
1.6 Scientific Hypotheses
For the goal of carrying out this project, the following research hypotheses have been developed:
Social responsibility of company does not significantly contribute to the success and growth of the host community.
H1: the social responsibility of businesses contributes considerably to the success and growth of the host community.
There is no significant correlation between the performance of businesses and their social responsibilities.
There is a considerable correlation between a company’s performance and its social responsibility.
1.7 Importance of the Research
This research is significant because it lays the groundwork for future research on the topics by giving relevant data.
The fact that businesses have been challenged on ethical, moral, economic, and political grounds also makes this study significant. Businesses have also contributed to the formation of our physical environment. In the case of the SHELL corporation, for example, toxic waste has been buried in abandoned plant sites, solid garbage has been dumped into lakes, seas, and rivers, and toxic gases have been released into the air we breathe. Attempting to be socially responsible incurs additional costs or fees for businesses.
This research is significant because it will benefit “SHELL COMPANY” and its customers by enhancing their understanding and appreciation of the company’s efforts. If applicable, it will also be beneficial to the government and registration because it will help them make greater sense of the data.
And effective legislation that assists them in establishing attainable social responsibility criteria for enterprises.
1.8 Limitations of the Research
This research paper incorporates information from both primary and secondary sources.
While collecting information from numerous sources, the author of this research encountered a number of obstacles.
Due to the high cost of internet browsing, a budgetary limitation initially hampered the information gathering process for this project.
1.9 Explanation of Terms
Multinational firms (MNC) or multinational corporations (MNE)
This category includes organizations that own or control production or service facilities in one or more foreign countries. When a company is registered in more than one country or has operations in more than one country, for instance, it may be categorized as an MNC. Typically, it is a multinational corporation that produces and sells goods or services in multiple nations. It is also known as a multinational or transnational corporation. Social responsibility is the ethical principle that a person or organization has an obligation to behave for the greater good of society. Social responsibility is a task that each individual must do in order to preserve the equilibrium between the economy and the ecosystems. There may be a trade-off between material economic development and the welfare of society and the environment.
Social Responsibility entails maintaining a balance between the two. It applies not only to businesses but to everyone whose actions have an effect on the environment. This obligation might be passive, as in refraining from engaging in socially destructive behavior, or active, as in actively advancing social goals. A community is any sized social entity that shares common ideals. Despite the fact that embodied or face-to-face communities are typically tiny, larger or more extensive communities such as national communities, international communities, and virtual communities are also examined. In human communities, intent, belief, resources, preferences, needs, dangers, and a variety of other circumstances may be present and shared, influencing the identity and cohesion of the individuals. Country of Host: The nation in which individuals or groups from other countries or states are visiting as a result of an invitation or meeting from the government.
THE IMPACT OF COMPANIES’ SOCIAL RESPONSIBILITY ON THE DEVELOPMENT OF THEIR HOST COMMUNITIES
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