1.0 Background of the Study
Contemporary exigencies due to globalization, the end of the cold war, the information technology revolution and the opposing views of world politics have all necessitated the re-evaluation of the business-society relationship and facilitated the emergence of innovative business social responsibility-practices. In view of the expanding and dynamic nature of contemporary business organizations, awareness of the impact of these institutions is reflecting on the environment in which they operate. This awareness has led to a definite conclusion on the roles of business organizations in the society and the growing demand for corporate social reward in terms of better social performance.
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In contrast, proponent of corporate social responsibility have responded that the monumental increase in business power, the wide spread incidence of corporate unacceptable actions, issues of ethic and the increasing inability of government to meet their basic responsibility to society, have meant that the acceptance of social responsibility by business organization has been both inevitable and necessary. While this debate is far from being resolved, emphasis has since shifted from whether corporations should imbibe the principles of corporate social responsibility to the extent to which corporate social responsibility principles can influence corporate decisions and practices and how business organizations can best address its social responsibilities. Partly in response to the critics argument that corporate social responsibility is costly, “the business organization case” increasingly became a formidable cornerstone for securing business organization commitment to corporate social responsibility. The ‘business organization case’ suggested that business acceptance of social responsibility invariably results in a “win win” situation for both business organization and its stakeholders as a result, the business case successfully