Managerial perception and social responsibilities of nigeria firms

Thesis Overview

<p> </p><p>INTRODUCTION</p><p>The concept of social responsibility is perhaps the most current ideology in business management. In recent years management practitioners, industrialists and special interest groups have engaged in considerable debate over the issue of social responsibility. The mass of articles, paper lectures and results of research conducted within the past decade of this era indicated the importance of social responsibility in our modern society. Profit is traditionally believed to be the main motive behind the establishment of most business concerns except such humanitarian organization such as the churches and the schools. However, this research work will concern itself with the profit making business entity. Therefore, we must agree that the intention of those businesses is to recoup any fund committed or invented and what actually motivates the entrepreneurs are the profit they make on the funds so invented. Sometimes business social responsibility gets in the way of business’s fundamental goal, which is making profit and while trying to do justice to both, business can run into problems that affect us all. For instance, compliance with many of the government regulations aimed at controlling environmental pollution requires the installation of special equipment. Such additions can be costly and may force a firm to raise its prices or lower the overall quality of its products. When prices are raised, everyone notices it and many people complain about them. On the other hand, changes in quality are easier to gloss over, so it is not uncommon these days for a business to lower quality in order to keep the same selling price, on the theory that “what buyers don’t know won’t hurt them” in some cases, a manufacturer will raise prices and lower quality at the same time. The singular profit motive has made the entrepreneur to exploit the environment where they operate to the extent that the communities now become restive which in most cases ends into demonstration and work stoppages, which also affects the profit of these companies. This development them promoted researchers and management scholars and some welfare economist to make series of studies, after which they submitted that the primary objectives of a business concern need not profit only, but that business should be made in relation to their environment and also to be seen to be responsive to compensate environment exploitation.</p> <br><p></p>