Different forms of social responsibility practices have been prevalent in South Africa. Most of South African companies decided to bear the minimum costs when it comes to contributing to society. An improved version of social responsibility evolved since the transition in the 1990’s and South Africa’s re-integration into the global economy after lifting of economic sanctions. This came about after decades of large profit margins enjoyed by South African companies at the expense of low labour costs that led to inequalities in income distribution in South Africa. The social responsibility involvement/programmes are more or less the same across similar companies in South Africa. The reasons for business engaging in social responsibility are varied, ranging from poverty alleviation to sustainable development of society. Executives started to buy into the idea that social responsibility can be beneficial to the business and society. The changing attitudes regarding the role of business in society have made social responsibility an increasingly prominent issue over the past decades, but to decide on which projects will have a mutually beneficial impact on society and business, was one of the major challenges that companies have to face. It is against this background that the researcher investigated and compared the social responsibility practices of two selected financial institutions. The focus was on the practices of the two financial institutions in selecting targets for socially responsible involvement. This problem was supported by six secondary problems. The researcher first did a literature study to place social responsibility in perspective. The main purpose of the literature study was to identify and suggest how companies select the targets for said responsible involvement. An empirical investigation was conducted, focusing on Standard Bank and ABSA Bank. The demarcation of the study was restricted to these organisations as the assumption was made that their social responsibility practices are representative of the social responsibility practices of the financial services industry. The empirical study showed that the organisations under review did not have specific criteria that guide their selection of targets for social responsibility involvement. This highlighted an area of improvement on the social responsibility practices. The results of the literature study and the empirical investigation indicated that to be proactive in the field of social responsibility, criteria for selecting targets should be set and social responsibility practices should be linked to the corporate objectives and should form part of the strategic planning process. An affirmative approach to social responsibility will ensure that the two financial institutions be perceived as socially responsible.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:10857 |
| Date | January 2002 |
| Creators | Grootboom, Alan Avril Douglas |
| Publisher | Port Elizabeth Technikon, Faculty of Management, Business Administration |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | xii, 91 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
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