CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

Over the years companies (Business Organizations) as corporate bodies have not exercised their obligations. They have failed to impact positively on their immediate environments let alone the nation in which they operate. They pay an unliving wages to their employees, shareholders dividend are either accumulated or not paid at all, evade taxes cheat customers through poor services, unqualitative product and high prices, engage in unwholesome  competition, circumvent operational guidelines and institutional ethics and are involved in other odious and undercover activities. They seem not to understand what their responsibilities are, some companies operate and make a lot of profit while the communities they operate in are left in squander and degradation and the people improvised, and traumatized and frustrated young people become hostage takers social miscreants and consummate criminals. In some other instance, some business organizations want to show their benevolence. They engage in self glorification through incessant media and propaganda to promote their superfluous philanthropic gestures.

A key point to note is that CSR is an evolving concept that currently does not have a universally accepted definition. Generally, CSR is understood to be the way firms integrate social, environmental and economic concerns into their values, culture, decision making, strategy and operations in a transparent and accountable manner and thereby establish better practices within the firm, create wealth and improve society. As issues of sustainable development become more important, the question of how the business sector addresses them is also becoming an element of CSR.

The World Business Council for Sustainable Development has described CSR as the business contribution to sustainable economic development. Building on a base of compliance with legislation and regulations, CSR typically includes “beyond law” commitments and activities pertaining to: corporate governance and ethics health and safety; environmental stewardship; human rights (including core labour rights), sustainable development ,conditions of work (including safety and health, hours of work, wages),industrial relations;  community involvement, development and investment; involvement of and respect for diverse cultures and disadvantaged peoples; corporate philanthropy and employee volunteering, customer satisfaction and adherence to principles of fair competition, anti-bribery and anti-corruption

measures, accountability, transparency and performance reporting; and supplier relations, for both domestic and international supply chains.

Generally, CSR is understood to be the way firms integrate social, environmentaland economic concerns into their values, culture, decision making, strategy and operations in a transparent and accountable manner, and thereby establish better practices within the firm, create wealth and improve society. These elements of CSR are frequently interconnected and interdependent, and apply tofirms wherever they operate in the world. It is also important to bear in mind that there are two separate drivers for CSR. One relates to public policy. Because the impacts of the business sector are so large, and with a potential to be either positive or negative, it is natural that governments and wider society take a close interest in what business does. This means that the expectations on businesses are rising; governments will be looking for ways to increase the positive contribution of business. The second driver is the business driver. Here, CSR considerations can be seen as both costs (e.g., of introducing new approaches) or benefits (e.g., of improving brand value, or introducing products that meet sustainability demands). The remainder of this guide addresses the second of these drivers.

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