| dc.description |
Corporate Social Responsibility (CSR) has the potential to make positive contributions to the development of society as businesses and organizations see the benefits from setting up strategic CSR agenda. The increasing attention to CSR is based on its capability to influence firms’ performance. PPF being among the pensions Funds has gone to the extent of practicing CSR to the communities around it such as helping the vulnerable children and women to mention a few. The general objective of the study was to examine the effect of CSR on PPF performance at Dar es Salaam headquarters.
The study utilized a cross-sectional research design in collecting the data. The sample size of 55 respondents comprising of PPF officials, low cadre employees in public relations manager’s office and beneficiaries/customers was selected. Data collected were analysed and processed using descriptive statistics through Statistical Package for Social Science (SPSS) computer software.
The findings from the study revealed that PPF enhanced its CSR policy which is in line with government policies in order to address community needs, improved staff welfare through the provision of loans, enhanced staff morale through training, provided bonuses and built community acceptance something that influenced the practice of CSR as reported by respondents. However, through practicing CSR, PPF was able to enhance its product quality, customer care 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 PPF targets.
From the findings, it is recommended that the fund should align its CSR with financial priorities in order to enhance pension fund’s profitability and financial performance. The researcher argues for the enhancement of CSR practices to the needy along with other stakeholders’ collaboration for the successful implementation of organisation’s goals. |
|