Corporate Social Responsibility and its Impact in Developing Countries: The Nigerian Perspective.

Abstract

In this research, it was shown that Corporate Social Responsibility (CSR) can be described as a concept in which a company or organisation carries out business activities and makes a profit from a particular locality endeavour to contribute towards the sustenance of the society. The concept as largely misconstrued places more emphasis on the need for companies to interact with the society and create social amenities with or without the active participation of the community for which it is created for in the first place. However, during this research, it was discovered that it should mainly be a tripartite agreement where it would be more efficient where the government and the company should work hand in hand to ensure the initiatives are possible with all socio-political and economic factors available, while the members of the society at best should be able to take over the administration which is essentially aimed at giving the company a good exit strategy. The research showed that there are lapses especially coming down to the fact that (CSR) in a developing country like Nigeria uses frameworks that do not work based on our cultural and social background. This, in turn, led to the initiatives created to either go to waste or is mismanaged based on the fact that the people for which it is created for were either not carried along every step of the way, or did not show a need to participate based on the fact that they were not duly consulted. The findings and discussions carefully layout instances that are not only aimed at making it practiced better in Nigeria but also states recommendations that will make it more attainable in today’s world.