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The study was about assessing the challenges facing banking industry in the
implementation of corporate social responsibility at Exim Bank Morogoro branch being
the case of the study. The study population involved the Exim employees and the internal and external customers.
The sampling techniques were used in the study involved purposive sampling and
convenience sampling as sampling techniques used to generate the sample size. The
sample involved 55 respondents which participated in the study.
The study used a case study research design; moreover data collection techniques
involved was interviewing the respondents and questionnaires. The tool for data
processing and analyzing was SPSS.
The study revealed that Exim Bank enhanced its CSR policy which is in line with
government policies in order to address community needs, to improve staff welfare
through the provision of loans, to enhance staff morale through training, to provide
bonuses and to build community acceptance, that influenced the practice of CSR as
responded by respondents. However, through practicing CSR, Exim Bank was able to
enhance its services such as product quality, customer care services and instituted ethical
advertizing and sound systems to guide investment decisions. Also, CSR contributed to
the reduction of public relation costs, contributed to pension Fund‘s profitability and
financial performance as customers became satisfied and enrolled more to meet Exim
Bank targets.
In view of the findings the researcher recommend that Internally, Banking industry need
to undertake CSR activities more professionally by making it an integral part of their
business operations. This means that companies become proactive in building
performance capacity, setting clear CSR goals and policy, set targets and evaluation of
performance, apart from this but also Externally, it is important that companies like Exim
Bank also become more transparent with their CSR initiatives and be ready to
communicate to the public their policies, contributions and success clear and open
communication, aimed at a wide range of stakeholders, not simply government officials
is crucial to gaining recognition and benefits from CSR. So as to better respond to
development policy, companies‘ CSR should be linked to the national and local
development goals. But also businesses need to go beyond their ad hoc philanthropic
donations, the aim is for companies to contribute to overall development priorities and
build the capacity for government to support broad-based development. Banking Industry
need to continue implementing CSR to the community; it serves by increasing the
services in order to accommodate the needy who are drastically increasing. By doing so,
what it gets from the community would be equally reciprocated.
Banking Industry has to revise its methods used to practice CSR in order to compete well
with other competitors for its profitability.
Banking Industry has to work harder to satisfy its customers through enhancing the
internal business processes while being guided by investment decisions put. |
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