A Multilayered Approach to CSR Practices in a Multinational Bank

Abstract

Corporate Social Responsibility (CSR) is increasingly becoming a global practice for firms in both developing and developed countries. Its ability to contribute to corporate sustainability and stakeholder welfare has been well-documented and touted. However, it has been arguably noted that CSR is rarely embraced at all levels of organizations. Studies which have attempted to examine CSR from a multilayered perspective, involving institutional, organizational and level predictors are also limited. In response, the objective of this paper is to explore the predictors of CSR, at the three levels, that initiate firm CSR engagement.The paper builds on previous literature to develop a framework of multilayered predictors of CSR. Using a qualitative approach, the framework is used to examine a case study of predictors of CSR in a multinational bank in Ghana. The findings suggest that, first, at the institutional level CSR initiatives are driven by continuous dialogue with stakeholders, along with good corporate citizenship, as well as partnership and mutual collaboration with both internal and external stakeholders. Second, organizational level CSR predictors emphasize the need to invest in communities, support economic development, and create trust between the firm and its stakeholders. Third, individual level CSR predictors are influenced by the CSR manager’s educational background, on-the-job training, unique values, as well as the personal awareness of CSR related issues. In effect, sustainability, as a CSR approach, ensures that firms contribute to making their operational context (market) better, and thereby make it more viable for business. The proposed framework outlines ten predictors of CSR, categorized at the three levels. The findings can be used as propositions to guide the use of the framework in future research and practice.