The Role of top management, resource availability and stakeholder engagement in implementing Corporate Social Responsibility strategy in commercial banks in Kenya
There is an increasing consensus that corporate social responsibility has moved from being a business subject to becoming a critical business strategy. The general objective of the study was to investigate the role of top management, resource availability and stakeholder engagement in implementing CSR strategy in commercial banks in Kenya. Specific objectives were to establish the influence of top management support, resources availability and stakeholder involvement on implementation of CSR strategy in commercial banks in Kenya. This study used descriptive survey design. The study population was 240 senior management and middle level management employees of each of the 40 registered commercial banks. The sample size was 150 respondents. Questionnaire was the tool for data collection. Analysis of qualitative data was by use of descriptive statistics using SPSS version 23. Information was presented through percentage, mean, standard deviation, mean, standard deviation and frequency. Qualitative data was analysed by use of content analysis method. Multiple regressions were also used for data analysis. The study found that top manager’s support was statistically significant to execution of CSR strategy; while resources availability and involvement of stakeholder had a significant positive association with implementation of CSR strategy. The study findings will be important to the management of commercial banks. It will improve their understanding on the factors influencing implementation of CSR strategy. The managers will be able to adopt the factors identified to enhance implementation of CSR strategy in their organizations. The findings of the study will be helpful as it will also guide policy makers and other regulators in decision-making about how best commercial banks should implement their CSR programs. This study will also be useful in offering information that is critical for raising awareness and promoting a debate about the efficiency in engaging in CSR strategies.