CORPORATE SOCIAL RESPONSIBILITY IN NIGERIA: THE CHALLENGES OF IMPLEMENTATION

Sunny J. Pepple (Ph.D)

Abstract


Corporate social responsibility is a strategy adopted by business to accommodate increasing agitation by society for greater participation of business in the development of society. It has a long history which spans hundreds of years before its modern history. Its meaning is fussy and had generated controversy amongst scholars. Before the adoption of corporate social responsibility as a business strategy, business had concentrated on its employees, customers, shareholders etc to the detriment of other stakeholders especially society. With the adoption of corporate social responsibility it became all inclusive and no stakeholder is left behind. The practice of corporate social responsibility good as it is faces challenges. This paper examines the challenges which includes but not limited to entitlement mentality by host communities, lack of boundary for operation etc.  It also proffered solutions to overcome the challenges. The solutions include the need for active state intervention in the practice of CSR through the establishment of efficient and transparent negotiation procedures and mechanism for dispute resolutions as well as threshold for participation. It concludes that because corporate social responsibility is a win-win situation for business and society, no effort should be spared removing impediments that hampers its implementation.

Keywords


stakeholders, shareholders, market forces, and economic freedom.

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References


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