CSR GIMPA TAKORADI CAMPUS

GROUP FIVE (TEAM

GALLEY)

GROUP PRESENTATIONTOPIC:

CORPORATE SOCIAL

RESPONSIBILITYGROUP MEMBERS:

ESINAM GALLEY (LEADER)

DANIEL ETU MANTEY

SOLOMON HASFORD

ROSEMARY KOUFIE

IRENE ESTHER ASIBUO

LINDA TACHIE-MENSON

1

PRESENTED TO

KOJO KUTIN

OBJECTIVES AFTER THIS PRESENTATION

The presentation seeks to cover the following themes:

• Introduction

• The Stakeholder, Stakeholder Groups and Stakeholder

Interest

• Stakeholder Theory

• Social Responsibility Debate

• Basis, Perspective and Issues of CSR

• CSR and Definition

• Classification of CSR

• Views of CSR

• Motivations of CSR

• Components or Examples of CSR

• Levels and Principles of CSR

• Relationship or Role between CSR and Ethics

• Benefits and Challenges of CSR

• CSR Initiatives and Strategies

• Myths Surrounding CSR

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• Arguments for and Against CSR

• Practical Application of CSR

• Legal framework and Sector laws

• Recommendation and Conclusion

INTRODUCTION

There is a growing interest in the ethical behaviour of

corporations, or corporate social responsibility (CSR), in both the

academic and non-academic worlds:"...there is an increasing focus

both by business on CSR and also by society on the actions of

business." (Moir, 2001)

CSR has become multi-disciplinary. Discussion on the subject is

increasingly evident in the business world (FTSE, 2001; Ross, 2000),

politicians (Hewitt, 2001) and the media (Macalister, 2001; Roberts

and Hunt, 2001; BBC Radio 4, 2001). Scholars discuss the subject in

a variety of subject areas: accountancy; law (Whitehouse 2001);

marketing (Adkins 1999a, b); economics (Kell and Ruggie, 2001;

McWilliams and Siegel, 2001); political theory (Held, 2002; Moon,

2001) and by those concerned with business ethics (Maclagan, 1998).

THE STAKEHOLDER

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Stakeholders are all those who are affected by or can affect

the activities of the firm. They can be from within or outside

of the organization. Each Stakeholder has a different

criterion of social responsiveness based on their specific

interest (or stake) in the organization.

(Professor Schoenfeld, Social Responsibility and Ethics

Contemporary Management Concepts)

STAKEHOLDER GROUPS

The Stakeholder group may be primary or secondary;

Primary Stakeholders: Those who have a formal, official, or

contractual relationship with the organization, For example:

Owners, Customers, Suppliers, And Employees etc

Secondary Stakeholders: They are other societal groups who are

affected by the activities of the firm. For example: society

or local community, media, consumer groups, social and civil

society groups, environmental groups, government etc.



STAKEHOLDERS INTEREST

4

Employees are interested in work satisfaction, job security,

etc

Investors/ owners are interested in managerial efficiency and

profit

Customers are interested in product quality and availability

Government are interested in law compliance, operating in a

safe environment



Special Interest Stakeholders

Environmental groups e.g. EPA, WILDLIFE

Political action groups e.g. AFAG, TUC

Groups interested in quality of life in community e.g. Social

Welfare



Stakeholder Theory

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According to Maclagan, CSR is “…a distinct label attached to

theories of the business-society relationship” (Maclagan, 1998:

147) and he continues that: "Corporate social responsibility may

be viewed as a process in which managers take responsibility for

identifying and accommodating the interests of those affected by

the organization’s actions.” (Maclagan, 1998: 147). Maclagan

supports Carroll’s stakeholder view of CSR, arguing that all

stakeholders are claimants on the moral direction of the company

(Maclagan, 1999). According to sources cited in Carroll:

"A socially responsible firm is one whose managerial staffs

balance a multiplicity of interests. Instead of striving only for

larger profits for its stockholders, a responsible enterprise

also takes into account employees, suppliers, dealers, local

communities and the nation." (Johnson 1971 in Carroll 1999: 273)

Therefore, it seems that CSR cannot be interpreted solely as

corporate activity confined to the local community, as much of

the literature seems to suggest and would include such issues as

the bonuses given to the bosses of poorly performing companies. A

further contradiction associated with the literature centres upon

whether CSR should be voluntary, or not. For example, Wood refers

to “…how society grants and takes away corporate legitimacy” and

cites this as one of three underlying principles of CSR, which

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includes fines from governments given to those considered to be

irresponsible (Wood, 1991: 697). According to Carroll, “The CSR

firm should strive to make a profit, obey the law, be ethical and

be a good corporate citizen.” (Carroll, 1999)

In Carroll’s view, being a good corporate citizen includes

voluntary socially responsible actions. He identifies four

components that need to be present in order for a business to

claim it is socially responsible. These are economic, legal,

ethical and philanthropic responsibilities (Carroll, 1996).

Philanthropic responsibilities are described as “purely

voluntary.” Therefore, exceeding the requirements of the law is

also a feature of the CSR literature: “Corporate social

responsibility refers to managements’ obligation to set policies,

make decisions and follow courses of action beyond the

requirements of the law that are desirable in terms of the values

and objectives of society.” (Mosley et al., 1996)

This view is supported by Baker who declares that: “CSR is not

philanthropy and it must be more than just obeying the law.”

(Baker, 2001)

The question arises as to which actions involving which

stakeholders ought to be voluntary and which should be enforced

by law.

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Furthermore, definitions of the scope of CSR appear to vary in

terms of differing levels of corporate commitment to CSR; that

is, in terms of the level of stakeholder involvement.

THE SOCIAL RESPONSIBILITY DEBATE

Does it mean the corporation’s actions must not harm society

OR

Does it mean a corporation’s actions should benefit society?



BASIS OF THE SOCIAL RESPONSIBILITY

The Premises of the Social Responsibility Debate can be seen

as a Social Contract or Moral Agent.

Social contract: It may be an implied set of rights and

obligations that are inherent in social policy and assumed by

business. A business must comply with these guidelines

established by society.

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Moral agent: The obligation of a business to act honorably and

to reflect and enforce values that is consistent with those of

society. (Professor Schoenfeld, Social Responsibility and

Ethics Contemporary Management Concepts)

PERSPECTIVES OF SOCIAL RESPONSIBILITY

Economic Perspective: The responsibility of business is to

make a profit within the “rules of the game.” Organizations

cannot be moral agents. Only individuals can serve as moral

agents.

Public Responsibility: Businesses should act in a way that is

consistent with society’s view of responsible behavior, as

well as with established laws and policies.

Social Responsiveness: Business should proactively seek to

contribute to and improve society in a positive way.

Organizations should develop an internal environment that

encourages and supports ethical behavior at an individual

level.



CORPORATE SOCIAL RESPONSIBILITY9

There is no universal definition of CSR. The concept is always

being redefined to serve changing needs and times. While the

fundamentals of CSR remain the same everywhere, different

emphases are found in different parts of the world because CSR

issues vary in nature and importance from industry to industry

and from location to location. (Björn Stigson, 2003)

Definitions of Corporate Social Responsibility (CSR) range

from business ethics, to sustainability, to corporate

citizenship. Some companies simply see CSR as "the right thing

to do"; while others see it as a strategic differentiator for

their company and a means to achieving greater business value.

(Canadian Business for Social Responsibility)

The dominant research perspective on why corporations engage in

social and environmental reporting is legitimacy theory.

Legitimacy theory relies upon the notion of a social contract

between corporations and society or a community, and on the

maintained assumption that corporations will adopt strategies,

including disclosure strategies, that show society that the

organisation is attempting to comply with their expectations.

(Heledd Jenkins, 2004)

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DEFINITION OF CSR

‘Corporate Social Responsibility is the continuing commitment

by 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’. (World Business Council for Sustainable

Development)

CLASSIFICATION OF CSR

CSR

A. Legal functioning B. Illegal Functioning

Socially Responsible Socially Irresponsible Socially

Responsible Socially Irresponsible

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A. Legal Functioning: By legal functioning we mean the

corporate is following all the rules, employee care,

customer care, and environmental care are well attended.

The product and services is of benefit to society.

a. Socially Responsible can become possible due to high

level of profits and social concern of promoters. They

take up lot of social related reforms, facilities and

services and this helps to improve the living conditions

of the people

b. Socially Irresponsible occurs due to loss making or poor

profits margins. Previous losses, penalty payments, lack

of orders and demoralising factors. This situation does

not enable them to take initiative in voluntary social

service.

B. Illegal Functioning: These are companies who indulge in

one or more illegal or unfair activities. Some of these

are unsafe and bad work environment, ill treatment to

workers avoiding payments of P.F, Income Tax, bonuses,

timely salaries etc. They may be producing non-ethical

products like alcohols, cigarettes, tobacco products etc.

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a. Socially responsible: is possible due to religious

inclinations and to create goodwill to amass more and

more wealth. For example McDowell’s sponsor sports events

for publicity on the guise of social service.

b. Socially irresponsible: Such companies become

irresponsible in a case of double fault. Negligence to

workers safety causes ill-health, loss of limbs, and

sometimes death. Hence this category is dangerous and

needs to be seriously death by the various government

authorities. Bari and Bari ( 2007) Business Ethics

VIEWS OF CSR

Limited View: The best known proponent of the limited view of

social responsibility is Milton Friedman the Noble prize

winner economist. He argues that making managers responsible

go to business owners for reaching profits objectives and also

to society for enhancing the general welfare represents a

conflict of interest that has the potential of causing the

death of business as it is known today.

According to Friedman this will almost certainly happen if

business is continually forced to perform act that are in

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direct conflicts with primary organisational objectives.

Primarily, He argues that management is employees of the

owners not the public and should act for the owners. Moreover,

the costs of social responsibility are passed on to consumers

as high prices.

Extensive View: The argument for the extensive view or

unlimited view begins with the premise that business is a

major segment of society and exerts significant impacts on the

way society exist. Moreover, since business is so influential,

its responsibility for helping to maintain it includes the

overall welfare of society.

Some authorities argue that business should perform social

responsibility activities because profitability and growth go

hand in hand with responsibility and should have good

treatment of groups such as employees, customer and the

community. In essence this argument implies that being

socially responsible is a mean of earning greater

organisational credibility at profit.

Amofa F. R & Mensah J.G (2014) Business Ethics, Centre for

Continuing Education, University of Cape Coast.

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ISSUES OF CSR

There are number of issues bear on CSR, namely:

• Environmental stewardship

• Proper treatment of workers: Safety and good working

conditions, Retirement benefit/Health Insurance

• Sustainable development

• Ethical business practices

• Observation of human rights standards

• Discriminatory practices /anti discrimination policies

• Community relations/engagement

MOTIVATIONS FOR CSR

• It could be argued that the motivation for engaging in CSR

is always driven by some kind of self interest (Moon, 2001;

Moseley, 2001), regardless of whether the activity is

strategically driven for commercial purposes alone, or

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whether it is also partly driven by an individual’s personal

altruistic concern for CSR (Maclagan, 1998: 29-30).

Corporate Image Management: Doing Well, by Doing Good

The theory of the firm perspective argues that the concern

of management is to maximise shareholder value. From this

viewpoint, CSR is a response to the competitive environment

and the demands on managers from various stakeholder groups

(McWilliams and Siegel, 2001). Consequently, corporate image

management has evolved as a strategic marketing activity.

Creating or Maintaining a Good Corporate Image

It has traditionally been the role of marketing to manage

the image of the company in order to produce a positive

effect on the organisation’s business. Marketing

communications, notably public relations activity, is used

in order to improve the competitive position, by delivering

the messages designed to create or maintain a good image

(Adkins, 1999a, b; Darby, 1999a, b). Consequently, ‘doing

good deeds’ (CSR) produces a positive public relations

story. In addition to this criticism, it has also been

argued that corporations adopt CSR as a cover-up to shade

the impact of corporate misdemeanour. Sceptics have accused

companies of taking a public ethical stance in order to

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project a ‘good’ image, regardless of their unpublicised

unethical practices (Caulkin, 2002).

The Corporate Cover Up

Some view the corporate communication of CSR as a cover up:

"...the meaning of CSR has changed dramatically over the

past decade. As recently as 1990, the interaction between

business and society remained largely confined to local or

national scenes, and the conventional view that the major

responsibility of business is to produce goods and services

and to sell them for a profit was not seriously questioned…

effective use of communication technology and the

willingness of the international media to carry stories

about corporate misdeeds have greatly increased public focus

on corporations" (Kell and Ruggie, 2001: 326).

Other Corporate Motives for CSR

Other corporate motives for the adoption of CSR stem from

labour management issues and issues involving the

integration or acceptance of the business into the local

community. For example, Kell and Ruggie attribute "the

corporate interest in business ethics and good citizenship"

to the necessity for corporations to be able to integrate

"the increasing number of diverse cultures of their officers

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and employees" as a result of their global operations (Kell

and Ruggie, 2001:326). In a similar way, Moon attributes

business community involvement to issues of recruitment; the

economic development of the area and business’ anticipation

of threats of social upheaval.

Personal Desires and Interests

This introduces another possible motivation for CSR, which

is the notion of egoism, or self-interest, whereby one’s

actions are motivated by a concern for one’s own happiness

(Raphael, 1994: 37). An example of a manager finding

personal satisfaction from CSR is Gary Wainwright, a

Regional Manager for Zurich (a Swiss financial services

conglomerate) who said recently: "We are involved in a range

of local charities, going into local schools and helping

with literacy programmes. It's good for business, but I

personally like to give something back." (Macalister, 2001)

COMPONENTS OR EXAMPLES OF CSR

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Philanthropic

Be a good corporate citizen

Contribute resources to the community

Improve quality of life

Ethical

Be ethical, Obligation to do what is right, just and fair,

avoid harm

Legal

Obey the law, law is society’s codification of right and wrong,

Play by the rules of the game

Economic

Be profitable, the foundation upon which others rest.

The Pyramid of Corporate Social Responsibility (Amofa, F.R. &

Mensah J.G. (2014) Business Ethics (Centre for Continuing

Education, University of Cape Coast)

LEVELS OF CSR

Social Obligation – Meet minimum regulations, do what is

required by law, no more

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Social Responsibility – Go beyond what is required by law,

mitigate negative effects

Social Responsiveness – Proactive approach, promote positive

change

Alex Valls, (April 2007), Corporate Social Responsibility

(CSR) MRH Congress

LEVELS OF CSR IN THE LABOUR MARKETS

Social Obligation: Comply with wage and working time laws,

minimum working benefits etc

Social Responsibility: Provision of additional labour benefits

Social Responsiveness: Improving quality of work life

(Alex Valls, April 2007 Corporate Social Responsibility (CSR) MRH

Congress)

PRINCIPLES OF SOCIAL RESPONSIBILITY

The principles of Social Responsibility are Ethical behaviour,

Respect for rule of law, Respect for international norms of

behaviour, Respect for and considering of stakeholder

interests Respect for human rights , Precautionary approach,

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Transparency and Accountability. (Dr. Anthony Miller United

Nations Conference on Trade and Development)

RELATIONSHIP OR ROLE OF CSR AND ETHICS

Corporate social responsibility (CSR) is the responsibility of

business towards the society

In the business world, Ethics is the study of morally

appropriate behaviours and decisions, examining what "should

be done” CSR is about tangible corporate practices while

business ethics is more about the values driving business

decisions. Although the two are linked in most firms, CSR

activities are no guarantee of ethical behaviour. Companies

can engage in CSR activities even while they are acting in

unethical ways.

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www.fasset.org.za Facilitated by Goldengate Consulting July 2012

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http://www.fasset.org.za/

CHALLENGES OF CSR IN GHANA

• Awareness of corporate governance in general and CSR in

particular, is low.

• Enforcement and compliance with what policies and laws

exist is also below par.

• The Companies Code (1963) provides the main corporate

governance framework for registered companies. Though

robust and very detailed, it is out of touch with current

corporate governance developments and is in need of

updating.

• The institutions that are active in the promotion of good

corporate governance and CSR are weak in finance, human

and institutional terms.

Organizations that contribute to the CSR agenda in Ghana

include: Commission on Human Rights and Administrative Justice

(CHRAJ), Ghana Anti-Corruption Coalition, Transparency

International, the media and a number of NGOs that deal with

social and environmental issues (This section draws heavily

from the African Peer Review Mechanism Report, June 2005.)

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CSR Initiatives Guiding Principles for CSR Projects

• CSR is about corporate citizenship

• It is about giving back to the society

• It is about business sustainability

• It is about thriving in a competitive business

environment


CSR Projects for Businesses

CSR Projects for Businesses may include;

Market focused initiative,

Product focused initiative,

Employee focused initiative,

Society focused initiative and

Environment focused initiative


SOCIAL RESPONSIBILITY STRATEGIES

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Reaction: An organization that assumes a reaction stance

simply fails to act in a socially responsible manner.

Defense: Organizations that pursue a defense strategy respond

to social challenges only when it is necessary to defend their

current position.

Accommodation: Corporations with an accommodation strategy

readily adapt behaviors to comply with public policy and

regulation where necessary and, more importantly, attempt to

be responsive to public expectations.

Proaction: Organizations that assume a Proaction strategy

subscribe to the notion of social responsiveness.



MYTHS SORROUNDING CSR

CSR is not for small businesses

It is too complicated and technical

It is too expensive

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It is a market gimmick

It is a separate corporate initiative


ARGUMENTS FOR AND AGAINST CORPORATE SOCIAL RESPONSIBILITY (CSR)

ARGUMENTS FOR CORPORATE SOCIAL

RESPONSIBILITY (CSR)

ARGUMENTS AGAINST CORPORATE

SOCIAL RESPONSIBILITY (CSR)

Balances Corporate Power

with responsibility

Discourages government

regulation

Promotes long-term

profits for business

Responds to changing

stakeholders’ demands

Corrects social problems

caused by business

Lowers economic

efficiency and profit

Imposes unequal costs

among competitors

Requires social skills

business may lack

Places responsibility on

business rather than

individual

Amofa, F.R. & Mensah J.G. (2014) Business Ethics (Centre for

Continuing Education, University of Cape Coast)

26


PRACTICAL APPLICATION OF CSR (Guidelines)

• You need to evaluate various aspects of your

business and operations

• You need to evaluate the impact your business is

having on your stakeholders.

• Then set realistic targets on how to improve your

business operations and processes.

• Draw up a result- driven CSR Policy.

• Embed your CSR into your business strategy.

• Appoint a driver for your CSR initiative

• Communicate your CSR efforts to all your

stakeholders clearly and boldly.

• Make your CSR initiative part of your business

culture

• Set up CSR measuring indicators to monitor progress

and possible deviations.

• Be enthusiastic about your CSR initiative; be

committed to it.

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• Report on your initiatives and measure progress/

impact made.


LEGAL FRAMEWORK ON CSR

There is no comprehensive CSR policy or law in Ghana. Yet,

there are a variety of policies, laws, practices and

initiatives that together provide the CSR framework in Ghana.

There are a variety of ways to view government‘s responses to

CSR issues in Ghana. These include: mandating; facilitating;

partnering; and endorsing practices that are CSR friendly.

In Ghana, the government seeks to promote CSR by putting in

place legislation that defines minimum standards for business

performance. Examples include constitutional provisions, local

government laws and requirements for environmental impact

assessments contained in an Act of Parliament. The

Environmental Protection Agency is primarily responsible for

regulating the environment and ensuring the implementation of

Government policies on the environment. The Environmental

Protection Agency Act 1994, Act 490 and the Environmental

Assessment Regulations 1999, LI 1652 provides the legal and

28


regulatory mechanisms for ensuring adequate safeguards are

incorporated into planning and development of any activity

that has the potential to cause significant environmental

impacts.

The Chapter 5 of the Ghanaian Constitution provides for a long

list of fundamental human rights. It provides for a quick and

automatic means of redress in the High Court for any rights

violations and corporations may thus be liable for any rights

violations that are proven in the High Court by an applicant.

THE VARIOUS SECTOR LAWS ON CSR

MINING SECTOR

Minerals and Mining Act, 2006, (Act 703) which came into force

on 31st March 2006, revised and repealed many of the laws on

mining in Ghana. Of particular relevance to CSR, the object of

the law is to take cognizance of environmental protection as

well as community interests with a view to providing a firm

basis for the development and sustainability of mining in

Ghana. (Memorandum to the Minerals and Mining Act, 2006, (Act

703)

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A Great concern is the proliferation of surface mining

companies has resulting in the pollution of some of these

rivers and streams through cyanide spillages, acid mine

drainage, tailings leakages, mine waste disposals, and mine

pits. These have tended to deprive communities of access to

water, a basic need for human survival (Owusu-Koranteng Hannah

2004.)

FORESTRY SECTOR

A new legislation in 1998 requires logging companies operating

on customary land to negotiate SRAs with local communities and

not just the chiefs. These SRAs are unique because they are

legally enforced and overseen by the national government.

(http://www.fcghana.com/publications/laws/index.htm)

These regulations were made to provide details to the Timber

Resource management Act. A good deal of the Regulations relate

to CSR. Under Regulation 11, the criteria for qualification to

apply for timber rights include: An undertaking to provide

specific social amenities for the benefit of the local

communities that live in the proposed contract area (Timber

Resource Management Act, 1997 (Act 547), Section 2.)

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http://www.fcghana.com/publications/laws/index.htm

ENERGY AND WATER SECTORS

CSR issues in the Energy and Water Sectors in Ghana relate to

the environmental effects of the exploitation of energy and

water resources; the inherent hazards associated with the

exploitation and sale of energy and water products and related

safety precautions.

The Energy and Water Sectors in Ghana are mainly regulated by

the Energy Commission (EC), the Public Utilities Regulatory

Commission (PURC), the National Petroleum Authority (NPA) and

the Water Resources Commission (WRC) laws.

TELECOMMUNICATIONS SECTOR

CSR issues in the Telecommunications Sector are similar to

those in the Energy and Water Sectors in Ghana. These include

consumer protection and satisfaction (such as connectivity

problems, and resultant disruption and loss of business-

corporate and personal) the need to regulate hazardous

emissions from telecommunications equipment (for example

radiation); rates and measures; and billing irregularities. A

National Communication Authority has also been established as

an independent body to regulate the activities of the players

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in the telecommunications sector especially as regards

licensing. (1992 Constitution of Ghana, Article 162)

RECOMMENDATIONS

CLARIFYING THE CONCEPT OF CSR

In Ghana, issues of CSR are not well understood, and are

regarded as philanthropic add-on. Some see CSR as a concept

whereby companies integrate social and environmental concerns

in their business operations and in their interaction with

their stakeholders on a voluntary basis. It is recommended to

clarify the concept of CSR in Ghana and make efforts to bring

the full import of the concept to all stakeholders especially

government, corporations, communities and Civil society

organisations.

LEGAL REGULATION OF CSR

There are hardly any laws that directly require businesses to

be socially responsible. Government, however, encourages CSR

by providing tax deductions for corporate sponsorship of

charities, sports development and promotion, educational

scholarships, and rural and urban community development

projects. CSR reporting is not a requirement for listed

32

companies. The existing policies in Ghana on CSR vary from

one sector to the other.

It is recommended that a CSR policy be developed for Ghana and

that the laws that regulate the various sectors of the economy

(and aspects of social life) in Ghana be amended to include

specific CSR provisions. It is particularly important that a

detailed and enforceable CSR policy for Ghana be prepared by

stakeholders and adopted by Cabinet. Ghana already has such

Policy documents in various key sectors. Examples are the

National Land Policy, the National Youth Policy and the

National Aids Policy.

ENFORCEMENT OF BUSINESS AND PROFESSIONAL CODES OF ETHICS ON

CSR

Flowing from the above, many business and professional

associations (like the Ghana Chamber of Mines, the Ghana

Medical Association and the Ghana Bar Association) have

adopted codes of conduct and codes of business ethics that are

very CSR friendly. These are, however, purely voluntary and

hardly enforceable by external stakeholders. Thus, where such

codes exist, enforcement mechanisms are not well laid out.

33

Disciplinary actions where they are taken are not publicized,

giving the impression that there are no sanctions.

ENFORCEMENT OF CSR

It is recommended that legislative reforms and the development

of a CSR Policy for Ghana be speeded up so that regulatory

bodies will have a framework to guide them in their effort to

keep corporations socially responsible. It is further

recommended that innovative mechanisms for providing resources

human and material to ensure effective CSR policing be

developed in the context of the CSR policy

CONCLUSION

Corporate Social Responsibility (CSR) is a helpful conceptual

framework for exploring the corporate attitude of companies

towards stakeholders. (www.brass.cf.ac.uk/projects/Corporate

Social Responsibility and Corporate Governance). It is about

balancing the corporate need to make profit with the diverse

demands of communities and nations to engage in sustainable

development. For a long-time, corporations had free reign and

very limited commitments to external stakeholders. Today,

corporations must recognise the needs and demands of many

34

http://www.brass.cf.ac.uk/projects/Corporate

stakeholders, they must identify the interests, concerns and

objectives of all these stakeholders and decide whether and

how to address them. (Guerra, 2002)

Apparently also, many corporate bodies have over the years

spent valuable sum of money on community projects, the

endowment of scholarships and the establishment of

foundations. However, CSR goes beyond charity and requires

responsible companies to fully recognise the impact of their

activities on all stakeholders and the environment.

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CONSTITUTIONS

1. 1992 Constitution of the Republic of Ghana.

ACTS OF PARLIAMENT, DECREES, LAWS

Timber Resource Management Act, 1997 (Act 547)

Minerals and Mining Act, 2006, (Act 703)

Water Resources Commission (WRC) laws

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CSR GIMPA TAKORADI CAMPUS

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