Application of Corporate Social Responsibility by Barclays Bank in Its Operations in Kenya as a Host Country

Abstract

In the world today, many organizations have become increasingly aware of the fact that they need to create environments that can support their business activities. This has forced such organizations to acknowledge the importance of incorporating Corporate Social Responsibility in their operations. Commercial banks and other multinational companies have also not been left behind in this area. They too are consciously taking into consideration the impact of their activities on their customers, employees, suppliers, communities, shareholders and governments as well as their environments. The realization of this obligation has caused organizations to comply, over and above the normal regulations, with the implementation of voluntary initiatives to improve the well-being of their stakeholders. The purpose of this study was to assess the application of corporate social responsibility on Barclays Bank in its operations in Kenya as a host country. The study focused on Barclays Bank as an entity. It being a single entity the study adopted a case study research design. The data was collected through the use of interview guide. Information was sourced from 6 managers in the bank’s headquarters in Kenya. The study highlighted some of the challenges that the bank faces when implementing CSR activities. The findings indicate that the bank is very proactive in initiating CSR activities in their operations. These activities are mainly centred in the communities that the bank has operations in. It is clear from the findings that CSR initiatives are seen to give the bank a good image. The bank also has CSR policy in place that gives guidance in undertaking CSR activities. The adoption of CSR policy by the bank has enabled them to become a strong brand in the banking industry. This has contributed to the bank gaining market share as the CSR initiatives present a forum through which the bank can showcase its products and services. The study also established that employees are also impacted by CSR activities as they are engaged in planning and implementation of the same. This has in turn contributed greatly to the employee retention as employees loyalty is positively impacted as they feel part and parcel of the initiatives that they are implementing. The study has made some recommendations that the bank can assess and implement for continued operations in Kenya, as a host country to continue being productive.