Introduction
In recent years, the number of natural catastrophes affecting
human lives worldwide has continuously grown. In the mean time, fighting for
human rights and global welfare is arising as often as ever. Corporate social
responsibility (CSR) has risen internationally as one of the key elements of
defining Conscientious business practices.
While the subject of CSR has been widely studied for decades,
no single definition can be found. Corporate Social Responsibility is
considered as the building of positive measures on the basis of the three
dimensions, social, economic and environmental responsibility, aiming towards
achieving equilibrium between economic, environmental and social welfare to
obtain a sustainable bank development.
Historically, banks have often been the object of
dissatisfaction, distress and critique, especially by customers through
economic challenging circumstances. Today, however, banks have risen to be
advocated for environmental and social responsible practices. In addition to
funding ethical causes, banks have begun to carry responsibility in denying
funding for doubtful projects. Through rejecting some contracts, banks can
obtain more business from highly regarded customers who are conscious of the
gained good reputation.
An increasing amount of customers are choosing their banking
institutions according to which actions the banks do not participate in. So,
CSR strategy is used fundamentally as a synonym for sustainable economic,
social and environmental responsibility.
Through the comparison between the CSR main bases and
principles and the Tunisian banking and financial laws and after our brief
study of the STB and its strategies, we deduce that Corporate Social
Responsibility is feasible and profitable for this bank, its shareholders
and clients. Furthermore, according to the Tunisian Financial and
banking law, this strategy is applicable and we didn't find any law that bans
any Tunisian bank to adopt it.
My research aims to shed the light on CSR as a newly- adopted
strategy and its effects on the banking sector as a new procedure that can
achieve the success of any financial institution and enhance the attractiveness
of a larger number of customers and clients achieving their satisfaction. In
addition, my project aims to focus on the ethical and environmental role that
CSR tries to make a principle in the managerial process.
I've divided my research into three major parts. The first
part focuses on four main categories; CSR, CSR in banking and its impacts,
banking and financial system in Tunisia and the evaluation of CSR on STB. The
second part is the research methodology in which there is a description of the
subject, the data collection, and the procedure. Then, comes the last part
which is the results and discussion in order to find a foundation for the
study.
Chapter 1: Literature Review
1.1 CSR: Definitions
It is generally known that the concept of a company or
corporation and even business
itself cannot be separated from society. Corporate Social
Responsibility (CSR) is also called, corporate citizenship, social performance
or sustainable responsible business. It is a management process which has no
precise definition, but it generally aims to improve the quality of management
and help the company to be socially responsible and committed by
incorporating social and environmental concerns in business and
its operations. The nature and implementation of CSR depend on countries,
societies and companies.
The following are some definitions of CSR:
* Wikipedia (September, 2007) defined corporate social
responsibility (CSR) as «a concept whereby organizations consider the
interests of society by taking responsibility for the impact of their
activities on customers, employees, shareholders, communities, and the
environment in all aspects of their operations. This obligation is seen to
extend beyond the statutory obligation to comply with legislation and sees
organizations voluntarily taking further steps to improve the quality of life
of employees and their families as well as of the local community and society
at large.»
* "The corporate act of giving back to the immediate and wider
community in which organizations carry out their business in a manner that is
meaningful and valuable and relevant to that community» (Ajala, 2009) .
*CSR is a way for the companies to reach out to their host
communities by positively impacting on their environment» (Ogungbayi,
2009).
*CSR is a way of saying `thank you' to the environment in
which they operae and a way of also showing a sense of belonging to the society
at large» (Akinloye, 2009).
*The World Business Council For Sustained Development says:
«CSR is the continuing commitment to 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».
|