EFFECTIVENESS OF CORPORATE SOCIAL RESPONSIBILITY (CSR) REPORTING IN ENHANCING CORPORATE IMAGE
Journal Title: European Journal of Business and Social Sciences - Year 2015, Vol 4, Issue 5
Abstract
Globally, there is a growing recognition of the effects productive activities of businesses have on stakeholders. Corporate social responsibility reporting is a subcategory of financial accounting which focuses on disclosing of non-financial information about a corporate organisation’s performance to external parties such as capital holders, stake holders, creditors e.t.c. This paper examines the accruing huge benefits such reporting has on organizations. These benefits include risk management propensity; communication to desired and right audiences; employee recruitment and retention; continued public endorsement and licenses to operate unhindered amongst others. The paper concludes that corporate social responsibility reporting has the capacity of garnering enhanced organisational image, attract positive media attention with the host community, civil society organizations and key decision makers. However, selecting when to act, how to act and reporting such acts to the relevant stakeholders can make a difference in corporate image enhancement. It recommends the development of an appropriate innovative standard reporting technique to be backed by enforceable legislation.
Authors and Affiliations
NICHOLAS N. IGWE| Ph.D, JP, MIMC, MNIM, MTRCN, Senior Lecturer and Head Department of Business Management Godfrey Okoye University Ugwuomu-Nike Enugu +2348038726688 e-mail: ngozinick@yahoo.com, EUGENE NWADIALOR| Ph.D, FCA, FCIT Professor of Accounting and Finance Department of Accounting and Finance Godfrey Okoye University Ugwuomu-Nike Enugu +2348037026544
Keywords
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