Project Topic: IMPACT OF BUSINESS SOCIAL RESPONSIBILITY (BSR) IN CONTRIBUTION TO ORGANIZATION TURN OVER

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CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

As Nigerian business environment becomes complex and dynamic, contemporary organizations operating in Nigeria are witnessing greater influence and pressure from interest groups such as stronger labour unions, more active consumer groups and also increased government regulations have brought about new pressures on the Board of Directors of organisations to be socially responsible. Modern business organisations are under enormous pressure from various interest groups which expect these organisations to be favourably disposed towards the alleviation or eradication of some of their problems. (Amaeshi and Adi,2006)

Various views on the business ethic has been written by many theorists, some have nothing to do with business, a strong organizational culture founded on ethical principles and sound values is a necessary foundation for organization turn over or survival. Business ethics is the study of people rights and duties; the moral rules that people apply in making decisions and the nature of the relationship among people. Ethic is a set of rules, values and standards governing the products of members of a profession, existing values and the expectation of the social environment (Whetten, Rands and Godfrey,2002). In performing its ethical responsibility, businessmen should not cheat, steal, lie, bribe or take bribe, besides business organization must not engage in indiscriminate employment; false advertisement and, produce defective product or encourage the consumption or harmful or hazardous product.

The business organisations are self-constrained to exhibit some sense of social responsibility by adjusting or responding positively to these problems. Based on this, businesses are not only interested in the quality of goods and services they produce, but their business environment as well. They appreciate that, good images and acceptance from the public could mean substantial enhancement of long-run profits which remains the main objective of any business organisation. The achievement of the organiational objectives determines its Buisness Social Responsibility (BSR) performances of organisation (Goss and Roberts, 2007).

In performing ethical responsibility, businessmen should not cheat, steal, lie, bribe or take bribe, besides business organization must not: engage in indiscriminate employment, false advertisement and produce defective product or encourage the consumption or harmful or hazardous product. Any business organization that practice ethics are expected to derive the following advantages: generate greater drive and efficiency, attract high caliber of people and develop profitable relations with its constituencies

The impact of legitimate management activities on people and on their physical and social environment is what they produce. i.e their product. Management of any business organization is responsible for that, since they operate in an environment, produce goods and services for the society and employ people in its operation. Therefore, these organisations are increasingly expected to anticipate, alleviate, eradicate and or resolve social problems encountered by the society as a result of their operation.

According to David and Guler (2008), Buisness Social Responsibility whether of a business, government and non-governmental, or any organization may arise in two ways. It may arise out of the social impacts of the organization, or arise as problems of the society itself. Both are of concern to management because the organization which the managers oversee, lives in the society. The first one deals with “what an organization does to the society” and the second one deals with what an organization can do for the society.

It is accepted that the business organizations can solve societal problems and being ethically and socially responsible. It must make profit for growth and development, continuity and/or succeed in the dynamism of the competitive environment.

1.2         STATEMENT OF PROBLEM

A lot of companies perceive Buisness Social Responsibility as a financial burden on its capital, as they believe that any social role will eventually use up the capital of organization thereby endangering its profit making ability. Business organisations that are engaged in unethical behaviour throw morality to the wind in their quest for profit maximization. They are involved in several maneuvers to satisfy their interests.

According to Amaeshi and Adi (2006), the success of organizations is contingent on balancing the social and ethical goals but many organizations argue that a business is an economic institution and that only economic values should determine its success. As organizations face competent and competitive players, the Nigerian business environment is now driven by advance competition brought about by globalization, deregulation of financial services, astronomical developments in Information and Communication Technology (ICT) among others to render services according to cost benefit criteria.

This has led to an ever-growing out-cry by an increasingly well-informed breed of society, customers, and stakeholders with the increasing demands for clear and hard facts about the social and environmental performance of organizations. This has also affected banks and other organisations such as; reducing the reputation of these organizations, lowered customer loyalty and confidence, decreased motivation of staff, reduced turnover and security of stakeholder’s funds among other challenges. As a result of the above, it has become a regular subject of discussion and debate within business and academic circle. Thus the study seeks to investigate how impact of business social responsibility can be used to achieve organization turn over.

1.3         OBJECTIVES OF THE STUDY

This study aims at examining the impact of business social responsibility in contribution to organization turn over.

1. To determine if banks adopt ethical practices in their overall operations.
2. To determine the impact of BSR on organization turn over.
3. To identify the measures adopted by Banks to ensure successful BSR.
4. To determine how effective Business ethics enhances organization turn over.
5. To ascertain why some organizations are not socially responsible.

1.4         RESEARCH QUESTIONS

For this study to accomplish its desired objectives, some basic research questions which will reflect on the objectives of the study are fielded. The questions in specific terms includes;

1. Why do banks engage in ethical practices in their operations?
2. What impact does BSR have on organization turn over?
3. What are the measures adopted by the banks to ensure successful BSR?
4. How does effective business ethics enhance organization turn over?
5. What are the challenges faced by organisations in implementing BSR?

1.5         HYPOTHESES

Arising from the statement of problem, the research objectives and research questions, the following null and alternative hypotheses are hereunder formulated for the study.

HA: 4 Effective business ethics reduces the risk of sudden damage to organization’s reputation and success.

H0: 5 Reduction in economic efficiency and excessive cost to business are not challenges faced by organisations in implementing BSR

HA: 5 Reduction in economic efficiency and excessive cost to business are challenges faced by organisations in implementing BSR

1.6         SIGNIFICANCE OF THE STUDY

This study will be of immense importance to management practitioners, business executives and scholars. First, it will be greatly beneficial to management practitioners in different areas of management on how an organization can use ethics and BSR as a tool for organization turn over.

It will also provide information for business executives and managers of First Bank Nigeria Plc, United Bank for Africa Plc, and Zenith International Bank. Owerri Metropolis, on how to achieve organization turn over by adopting ethical practices and Buisness Social Responsibility.

Finally, to scholars the study will be an addition to essential literature in this vital area of management strategy. Researchers will therefore use it extensively as a source document which will also stimulate further research in this area.

1.7         SCOPE OF THE STUDY

The study focuses on BSR, a tool for organization turn over. The study is designed to examine the effect of BSR and how they are used to solve organisational problems and achieve organization turn over. The scope of the study covered the concepts of BSR, Benefits of BSR, social responsibility and organization turn over, BSR at selected Banks, Arguments for and against BSR, Impact of BSR on banks, challenges of BSR in Nigerian Banks and, ways to improve BSR of organisations. The selected organisations are; First Bank Plc, United Bank for Africa Plc, and Zenith Bank Plc, all in Owerri Metropolis.

The scope of the study was narrowed to enable the researcher have a sample that could be effectively studied.

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Project Topic: IMPACT OF BUSINESS SOCIAL RESPONSIBILITY (BSR) IN CONTRIBUTION TO ORGANIZATION TURN OVER