Corporate social responsibility and its impact on business organization performance in Nigeria : Nigerian national petroleum corporation

Abstract

Corporate Social Responsibility as one of the key performers of an organization ensures the smooth running of an organization and its impact on a company's performance cannot be overstated. Therefore, businesses must take full responsibility for their activities and how they affect people, communities, and the environment at large, especially their host community. Hence, this study investigated the impact of Corporate Social Responsibility on the performance of business organizations in Nigeria. So, the Nigerian National Petroleum Corporation (NNPC) is used as a case study.

The study adopted a survey research design to gather relevant data for the thesis. The population for the study comprised business organizations in Nigeria. A purposive sampling technique was used to select the sample for the study based on availability. From the selected sample, a simple random sampling technique was used to select 121 respondents who are employees of the NNPC. The study focused on the NNPC headquarters in Abuja, Nigeria, as it offered an exceptional opportunity to assess the effectiveness of corporate social responsibility initiatives. One research question was asked and answered to achieve the stated objective of the study. Relevant data was collected using a closed-ended questionnaire.

The study adopted the corporate sustainability theory, which emphasized that for an organization to live and grow sustainably, such an organization must incorporate its business goals with social and ecological objectives overall. It was of the assertion that business development should be based on economists, social, and environmental pillars in an integrated manner without jeopardizing the interests of future generations to live and meet their needs. This theory identified society and the environment as the main pillars and foundations that determine the success of a business enterprise, indicating that corporate growth and profitability are indispensable. Additionally, it involves the corporation pursuing societal goals, specifically those relating to sustainable development, including environmental protection, social justice and equity, and economic development.

It can be deduced from the analysis of the data collected for this study that CSR is one of the lubricants that grease the relationship between an organization and its host community, thereby ensuring the smooth running of the organization’s business as well as providing the host community with the potentials to find purpose.