1.1 Background of the Study
Business organizations have bases of operation, in an effort to achieve their primary objectives which is profit; they interact with the larger society. Njoku (2008). In all human transactions, there are costs and benefits. Business cannot draw profits from the society without providing some social services to the same society. It is this expectation of the society from the business organization that formed the background of corporate social responsibilities.
The present-day Social Responsibility is a concept whereby business organizations consider the interest of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders as well as their environment. This obligation shows that the organizations have to comply with legislation arid voluntarily take initiatives to improve the well-being of their employees and their families as well as for the local community and society at large.
SR simply refers to strategies corporations or firms conduct their business in a way that is ethical and society friendly- SR can involve a range of activities such as working in partnership with local communities, socially sensitive investment, developing relationships with employees, customers and their families, and involving in activities for environmental conservation and sustainability.
According to Alugbuo (2002) social responsibility is frequently used to imply beyond the call of duty or contributing to society more than just through the creation of jobs, profits and valuable goods and services. Many business organizations engage in social responsibility acts of philanthropy of donating time or money to social causes such as improving our educational system, assisting the poor people, or rebuilding communities in the wave of natural or man-made disasters.
The concept of corporate social responsibility has been defined, debated, studied and prescribed by many thoughtful writers in recent years. Over the years, most organizations have been subjected to mistrust, violent protest against their operations, kidnapping of employees and poor opinion of the public following the inability of management of such enterprises to perform their social responsibility.
While organizations have been urged by various groups including the government to be socially responsible, not much has been documented on its effect on the organizations image, profitability, and brand loyalty.
Social responsibility according to Anderson (2000) refers to a set of obligations an organization has to protect and enhance the society it operates. Social responsibility implies aligning corporate behavior to the needs and aspirations of the host communities. It expectation makes it imperative for organizations as good corporate citizens, not only to obey the laws, but also try to contribute meaningfully towards the stability and growth of the society.
Companies of all sizes invest a great deal of energy in their corporate identities since the identity of a corporation influences the way people think about the company.
A positive public opinion about an organization goes a long way in ensuring its continued survival in that society,
It Is in this regard that the researcher decided to find out the effect and consequences of social responsibility on the attainment of organizational goals.
1.2Statement of the Problem
The primary motive of business is profit maximization. Hence anything business does is measured by this primary objective. Social responsibility apparently goes against this motive. It is assumed that the objective of business is economic and not social, therefore anything that goes against this objectives, social responsibility inclusive should be stopped.
It is argued by authorities that it is actually the society that pays the cost of social responsibility and not business. This is because whatever business spends on social responsibility are added to the cost of their goods and services and transferred to the consumers by way of higher prices.
Zenith Bank lack the social skills needed in solving social problems. Business is purely economic and not social, their orientation is completely different from social organizations, Getting organizations involved in social issues is like giving somebody a task he lacks the technical competence to handle because social issues are political issues. This research work will examine the effect and consequences of social responsibility on the attainment of organizational goals in the area of commitment to quality, efficiency in service delivery and their relationship with its business environment and whether social responsibility enhances profitability, productivity and sales volume of organization.
1.3Objectives of the study
The primary objective of this research work is to examine the effect of social responsibility on corporate Image of organization
Specifically, thisresearch will examine; social responsibility onthe organizational commitment toquality, (a) How does social responsibility on the organizational commitment to quality.
(b) The effect of social responsibility on the organizational efficiency in service delivery.
(c)The effect of social responsibility on organizations relationship with its businessenvironment.
(d) The effect of social responsibility on the sales volume of organization.
1.4 Research Questions
Based on the objectives of the study, the following research questions were formulated.
(a) How does social responsibility relate to the organizationalcommitment to quality?
(b)How does social responsibility affect organizational efficiency in service delivery?
(c)To what extent does social responsibility affect organizations relationship with it business environment?
(d) What is the effect of social responsibility on the sates volume of organization?
The researcher formulates the following hypotheses:
Ho: There is no significant relationship between social responsibility and the organizational commitment to quality.
Ho: There is no significant relationship between social responsibility and organizational efficiency in service delivery.
1.6Scope of the study
This study is limited to investigating the effect of social responsibility on corporate image of organization; using Zenith Bank plc.Owerri, as the study organization. The unit scope comprisesof the top management, middle and lower level management of the bank.
1.7Significance of the study
This work will be contributing to knowledge as well as assisting other researchers as some of them may review such study in the course of their own research.
It will also help management practitioners have a basic understanding of social responsibility and howit relates to organizational goals.
This research work will as well assist future researcher who might like to embark on a similar research work.
1.8Definition of terms
Organizational Efficiency: This is the comparison of what is actually produced in an organization or performedwith what can be achieved with the same consumption of resources,
Service Delivery: The extent to which an organization can satisfy its customers.
Social responsibility:Simply refers to strategies corporations or firms conducttheir business in a way that is ethical and society friendly.