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CORPORATE SOCIAL RESPONSIBILITY AS A TOOL FOR GAINING COMPETITIVE ADVANTAGE

Motilewa, Deborah B. and Worlu, Rowland E.K. (2015) CORPORATE SOCIAL RESPONSIBILITY AS A TOOL FOR GAINING COMPETITIVE ADVANTAGE. INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH AND REVIEW.

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Abstract

The profit maximization objective of business organizations have created business environments where managers are expected to solely achieve this objective regardless of the influence their business has on the society they operate in. Corporate social responsibility encompasses the business organization’s economic, legal, ethical and philanthropic expectations placed on the organization by the society. While many scholars and managers view CSR as a waste of a business’ resources, advocating that the sole aim of an organization is to maximize profit, and that managers are not well trained to perform CSR activities, other scholars and managers have deeply studied and promoted the benefits of CSR, one of which is the ability of CSR activities to serve as a strategic tool for gaining competitive advantage, especially in small businesses in Nigeria that face steep competition from established international organizations that benefit from economies of scale and are able to provide the same goods and services to consumers at a cheaper price and sometimes better quality. This study adopts a case study methodology in analyzing the strategic benefits derived by house of TARA, a small businesses operating in the beauty and make-up industry in Nigeria as a result of the CSR activities initiated and implemented by its management team.House of Tara has grown from a door to door makeup business to a major player in the beauty and makeup industry in Nigeria and other West African countries. Based on this study, it is concluded that CSR does have a strategic role in gaining competitive advantage such as consumer (external) and employees’ (internal) loyalty

Item Type: Article
Uncontrolled Keywords: Corporate Social Responsibility, Competitive advantage, strategy, House of Tara
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 23 Sep 2015 15:16
Last Modified: 23 Sep 2015 15:16
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/5483

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