The Relationship between CSR initiatives and non-financial performance of listed companies in Kenya
Date
2020
Authors
Radido, T. O.
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Publisher
Strathmore University
Abstract
The role of business in the present day has significantly changed from being profit focused to being socially responsible. According to Rouf (20 II) this has been as a result of the continuous interaction between the business and the community. This is perceived in terms of the impact the business has on the environment they operate in. Corporate Social Responsibility means initiatives to assess and take responsibility for the company's effect on the environment and the social welfare of the surrounding community (Porter & Kramer, 2006). Corporate social responsibility plays a pivotal role to help firms balance their economic, social and environmental imperatives. The fundamental idea of CSR is that businesses corporations have an obligation to work towards meeting the needs of a wide array of stakeholders. In addition, CSR is a set of management practices that ensures the company maximizes the positive impact of its operations on society or operating in a manner that meets or exceeds the legal, ethical, commercial and public expectation that society has for business c. The current debate is that corporations should transition from a state of mere compliance to an engagement; from harm minimization to value creation (Jamali &Mirshak, 2007). It is worth noting that developing countries do not share the same cultural and societal values, norms and priorities that underpin CSR in western nations. There is some anxiety that CSR continues to legitimize and reproduce values and perspectives that are not in the interest of developing economies. This is in terms of companies confronted with the challenge of how to balance the desire for global integration with the need for local responsiveness.
Description
Full - text undergraduate research project
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Citation
Radido, T. O. (2020). The Relationship between CSR initiatives and non-financial performance of listed companies in Kenya [Strathmore University]. http://hdl.handle.net/11071/16058