| dc.description.abstract | The fluctuating fortunes of the global economy have necessitated that all and sundry
come forward to help stabilise the situation. This calls for responsible action among st nil stakeholders. Corporations have ironically Flourished amid this turbulence of our times.
The question then is 'what are they doing to ameliorate the crisis?'
The study sought to identify: a) the social responsibility practices of firms listed in the
Nairobi Stock exchange (NSF) and: (b) 10 determine (he factors that explain the kind of . corporate social responsibility practices adopted by a
Population of the study included all companies listed in the Nairobi Stock Exchange,
which were 4X at the time or this survey. !\ total of]O responses were collected in time
for data analysis.
The study found out that all the companies practiced long term planning. A big
proportion of companies studied had strategies for social responsibility in place; it: was
observed (hat a majority of these firms focused on health and Education in their practice.
Other areas or involvement include; children's homes, self-help groups, sports, awareness
and others.
The firms were also found 'to be responsible to their employees, with most offering
medical. housing and pension schemes. In Environmental issues, it was observed that
water conservation and management was poorly addressed with most of the respondents
focusing on internal implications or their activities rather than the water situation as a
whole
On factors that drive companies to adopt corporate social responsibility, recognition of
CSR as a core value was the most cited explanation. other factors include: Need to
plough hack profit to community. as away of meeting government requirement on
degradation and is a medium or advertisement.
Finally. some corporations Celt that the cost of social responsibility should be allowed for
tax purposes. | en |
