Corporate social responsibility (CSR) refers to business practices that benefit society beyond increasing profits. CSR can include charitable donations, implementing environmentally friendly practices, and balancing profitability with social and environmental impacts. Engaging in CSR can benefit businesses by improving their reputation among consumers and investors, increasing employee satisfaction and retention, and reducing costs. While CSR initiatives outwardly benefit the community, focusing also on internal CSR policies that improve workplace conditions, such as employee health, safety, and work-life balance, can increase productivity and profitability for companies.

1. By
Babajide Olanrewaju AFFINNIH

2. Corporate social responsibility (CSR) refers to business practices involving initiatives that
benefit society.
A business's CSR can encompass a wide variety of tactics, from giving away a portion of a
company's proceeds to charity, to implementing "greener" business operations.
Social responsibility is the idea that businesses should balance profit-making activities with
activities that benefits society;
Additionally, some investors use a company's social responsibility, or lack thereof, as an
investment criterion. As such, a dedication to social responsibility can actually turn into
profits, as the idea inspires investors to invest and consumers to purchase goods and
services from the company.
Put simply, social responsibility helps companies develop a good reputation.
WHAT IS “CORPORATE SOCIAL RESPONSIBILTY”
?

3. KEY ISSUES IN CSR
 Labour rights:
 child labour
 forced labour
 right to organise
 safety and health
 Environmental conditions
 water & air emissions
 climate change
 Human rights
 cooperation with paramilitary forces
 complicity in extra-judicial killings
 Poverty Alleviation
 job creation
 public revenues
 skills and technology

4. Canadian Government:
“CSR is generally understood to be the way a company
achieves a balance or integration of economic, environmental
and social imperatives while at the same time addressing
shareholder and stakeholder expectations.”
VARIOUS DEFINATIONS OF CSR….

5. World Business Council for Sustainable Dev., 2000:
“The continuing commitment by business to behave
ethically and contribute to economic development
while improving the quality of life of the workforce,
and their families, as well as of the local community
and society at large.”
VARIOUS DEFINATIONS OF CSR….

6. SOME BASIC CONCEPTS OF CSR…
Social Contract Theory
Stakeholder Theory
Legitimacy Theory

7. SOME BASIC CONCEPTS OF CSR…
Social Contract Theory – There is a silent social contract between the
firm and society; the contract bestows certain rights in exchange for
certain responsibilities.
Stakeholder Theory – A stakeholder is “any group or individual who can
affect or is affected by the achievement of an organisation’s purpose.”
Argues that it is in the company’s strategic interest to respect the
interests of all its stakeholders.

8. SOME BASIC CONCEPTS OF CSR…
Legitimacy Theory – defined as a generalized perception or
assumption that the actions of an entity are desirable, proper,
or appropriate within some socially constructed system of
norms, values, beliefs and definitions.

9. “CSR is generally understood to be the way a company
achieves a balance or integration of economic, environmental
and social imperatives (something that must be done,
because it is right) while at the same time addressing
shareholder and stakeholder expectations.”
Canadian Government sees ;

10. - Strategic & Financial Planning
- Profit making within the law
- Good Corporate Governance
- True Financials
- Good Ethical Standards
- Regulator/ Law Abiding
Economic Imperatives

11. - Use of Resources
- Handling Waste
- Beautification Programmes
- Emission/ Pollution
- Efficient use of facilities
- Environmental Accounting
Environmental Imperatives

12. - Community Development
- Job Creation
- Employee Satisfaction
- Health & Safety Standards
- Customer Satisfaction
- Fair Advertising
- Healthy Competition
- Shareholder & Stakeholder relationship
Social Imperatives

13. Strategic and financial planning
Profit making with the law
Employee Satisfaction
Community
Regulator/ Law Abiding
Good Ethical Standards
True Financials Good Corporate Governance
Health & Safety Standards
Healthy Competition
Customer Satisfaction
Handling Waste
Efficient facilities
Emission/ Pollution
Use of Resources
Corporate Social Responsibility: The Integrated Approach to
Business in the 21st Century
Environmental Accounting
Share & Stakeholder relationship
Job Creation

14. Some Basic Principles to hold on to…….
H - Honesty
O – Open
T - Trust
F - Fair

15. CSR Reaches
 External CSR
 Internal CSR

16. Corporations of the world focuses more on this aspect of
CSR because it shows the company in a good light. It
relates to environmental and social practices that help to
strengthen the firms legitimacy and reputation among its
external stakeholders.
External CSR also includes a company’s financial reports;
how honest are these reports? Because diverse
stakeholders make use of these financials to make lots of
life-changing decisions.
External CSR:

17. Corporations need not be told their responsibilities on
these fronts; Other examples include,
• Job Creation,
• Corporate Philanthropy,
• Sponsorship,
• Fair Advertising,
• Donations,
• Volunteerism Etc.
External CSR:

18. Focuses inside the organization: what can be done
internally to improve the well-being of the workforce,
their lives and productivity as well as its impact on
profitability. It indicates the policies and practices of an
organization that are related to the psychological and
physiological well-being of its employees.
Internal CSR:

19. From several studies around the world it has been shown
that when the CSR strategy is aligned with the
company’s core business it can lead to a wide range of
bottom line benefits, such as increased employee
motivation and retention, higher productivity, reduced
absenteeism and more efficient environmental-friendly
production techniques among many others.
Internal CSR:

20. Some of the Policies and practices include:
• Staff rights,
• Employee health & Safety,
• Staff work-life Balance,
• Employees training,
• Equal Opportunity & fairness Etc.
Internal CSR:

21. Improves public image – Strong Corporate Reputation
Increases media coverage
Reducing Risk & Operating Cost
Boost Employee’s Engagement to enhance productivity
Attracts & Retain Investors
Influence buying decisions of customers
Reduces regulatory oversight
Benefits of CSR to the Company…….

22. Promotes Self-drive;
Positive workplace environment;
Increases Creativity;
Encourages professional & personal Growth
Benefits of CSR to the Employee…….

23. Lack of initiative by the government;
Unethical business practices e.g. Dishonesty, embezzlement,
smuggling etc.;
Lack of professionalism in management style;
Profit maximization pursuit only;
Relative small size of businesses.
CSR will not be possible when …….

24. FIGURES FROM FINANCIALS……
NIGER INSURANCE……
Donations:
The company made the following donations to charitable organization
during the year:-
N
Institute of Directors 350,000
Excellence on Education Conference 2015 1,000,000
Home maker lifestyle and empowerment workshop 50,000
Brazilian Carnival 100,000
1,900,000
A Thought on Mutual Benefits Ass. PLC……

25. AXA MANSARD…..
Organizations: 31-Dec-2015
PIUTA Centre, UCH, Ibadan 2,000,000
Living Fountain Orphanage 200,000
Emerald High School 50,000
West African College of Surgeons, Community Outreach Program 1,172,000
Sickle Cell Club 250,000
Centre for Insurance and Financial Management Studies 3,897,224
Seyi Akinwunmi Charity Mini-Tournament 100,000
Ganiyat Ogunfoworin Charity Foundation Tournament 100,000
Nigeria Special Olympics 198,000
Corona Schools 2 50,000
Standard Bearer's School 50,000
Children International School 100,000
Enactus (formerly known as SIFE Foundation GTE) 500,000
8,867,224

26. MUTUAL BENEFITS ASSURANCE PLC…..
Oganisations: TOTAL
Support for the projects of Rotary Club of Gbagada South 1,000,000.00
Sponsorship of the 12th Aret Adams Foundation Lecture 544,500.00
Donation for Fiyinfoluwa Twins' Eye Surgery 230,000.00
Donation to Junior Chamber International (JCI) Eko Chapter 100,000.00
Sponsorship of IOD's 2015 Annual Directors' Conference 1,000,000.00
Support to Chioma Ajunwa Foundation for the
development of Future Olympic Heroes and Heroines 250,000.00
Donation to Staddon School's 1st Inter-House Sports Competition 50,000.00
Sponsorship of Ikeja Golf Club's 2015
Corporate Challenge Tournament 200,000.00
TOTAL 3,374,500.00

27. 27
Prof. Pat Utomi, Director, MUTUAL BENEFITS, Dr. Akin Ogunbiyi, GMD, MUTUAL
BENEFITS, Rev (Mrs.) Dele George, Proprietress, Little Saints Orphanage and some
Children of Little Saints Orphanage

28. 28
Sponsorship of the maiden
Edition of the National Youth
Games, Abuja

29. 29
MUTUAL BENEFITS
sponsored the Nigerian delegates to the 2014
Commonwealth Games in Glasgow

30. 30
Sponsorship of the
10th Biennial Police Games,
P/Harcourt
Donation of State-of-the-art Badminton Complex to the Police College,
Ikeja

31. 31
• Sponsorship of the
Nigeria Rowing, Canoe
and Sailing Federation
competitions.
• Donation of Twenty
customized
Kayak boats and Paddles.

32. 32Donation of the State-of the- Art Eye Equipment to Gbagada General Hospital,
Lagos.

33. Holistically speaking; CSR has evolved, and we need to know that it
goes beyond what we are portraying to the public.
It is also time to look inward; at our policies, our practices, our
reports, our processes, our strategies Etc.
Do these policies, practices, reports pass the H.O.T.F Principles?
Because, when we get it right internally it will surely reflect on the
outside.
Final Thought……