Adapting Corporate Social Responsibility Programs to Risk Management: A Model for Multinational Organizations in Nigeria

Abstract

There is a growing recognition of the effects activities of businesses have on stakeholders. Business executives know that their long term success depends on continued good relations with a wide range of individuals, groups and institutions. Corporate Social Responsibility (CSR) can impact on risk management positively by providing intelligence about what these risks are and offering effective means to respond to them. This paper advocates that by integrating the business sense, learning and innovations garnered from CSR programmes, multinational companies in Nigeria can better manage risks and subsequently ameliorate the impacts of their economic, social and environmental activities successfully. The paper recommends that organizational leaders to proactively manage risks and take advantage of opportunities inherent in the environment to enhance stakeholders engagement and corporate reputation.

Keywords:Adapting, Corporate Social Responsibility Programs, Risk Management, Manufacturing Organizations.