An investigation into the challenges and benefits for Zimbabwean firms to participate in Corporate Social Responsibility
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The study sought to study the benefits and challenges on the Zimbabwean corporate sector’s participation in Corporate Social activities. Such aspects would have to be studied together with the extent to which Zimbabwean corporates are involving themselves in corporate social responsibility. The level of corporate social responsibilities adopted by corporates will to a very large extend be depended on a number of factors which the study will also seek to highlight. Generally the research will try to bring out how these variables are interacting in the Zimbabwean context to bring out a certain CSR ideology. Importantly the benefits being enjoyed or being missed as a result of different CSR conceptualization have to come out from this study. In seeking to address the purpose of this research as outlined above, the research adopted a quantitative approach in which firstly the population of this study was identified as all managers of corporates operating in Zimbabwe. Using this population guide, a sample was drawn to constitute those that will be involved in the study. A questionnaire with standard structured questions relating to the variables under study was then administered to this samples. The data responses from these questionnaires were then processed into information that allowed for further analysis and interrogation. Conclusions were then drawn from these findings leading to the formulation of recommendations. The study found out that although there is a conducive environment for the uptake of CSR in the country, the level of corporate participation remains relatively low. Corporates are not devoting adequate resources to CSR. In addition many have failed to develop codes and principles to drive this phenomenon. Although they seem to want to blame the lack of financial resources for the low level of CSR uptake, the main challenge was the bias towards the need to manage the brand using CSR by most firms. The legal environment also does not have adequate attributes to drive CSR. The research concluded that more need to be done to encourage firms towards increased CSR. This could be through lobbying using professional bodies and the government officials. The Legislative might also have to be strengthened. Generally management need to appreciate that there are more benefits to the firm in taking up the concept.