Factors influencing the practice of Corporate social responsibility by standard Chartered bank in Kenya
Abstract
In recent times, there has been an evident tremendous growth in the adoption of
Corporate Social Responsibility (CSR). This growth shows that CSR proliferates on the
boardroom agenda across many sectors and thus proves that modern corporations
understand the need to give to their business a more holistic sense in order to ensure their
viability. In the context of international organizations operating in diverse host countries,
the objective of this study was to determine factors that influence the practice of CSR in
Standard Chartered Bank-Kenya. Data was collected by use of an interview guide from
61 senior managers, middle level managers and staff working directly in the corporate
affairs department. Descriptive statistics was used in analyzing primary data while
secondary data was analyzed by use of content analysis. The findings indicate that the
bank has various CSR activities ranging from health, education, environment and general
community support strategies. Among factors that came out as influencing CSR in SCB
included corporate strategy, accountability, enhancement of stakeholder relations,
company integrity and stakeholder cooperation. However, among all these factors,
stakeholders’ welfare and relations appeared to be favored by the respondents as a key
influencing factor in the adoption and implementation of CSR. Based on the fact that
profitability of the bank as a factor, despite being among those mentioned lacked a
tangible evidential justification, the study among other recommendations, recommended
further studies that would be able to draw a link of CSR and any measurable financial
benefits for the bank.
Citation
Masters in Business AdministrationSponsorhip
The University of NairobiPublisher
The University of Nairobi School of Business