CORPORATE SOCIAL RESPONSIBILITIES OF GHANAIAN COMPANIES: PROSPECTS, CHALLENGES AND THE WAY FORWARD

Abstract

Corporate social responsibility is a means whereby most corporations make contributions to the society in which they operate. The emergence of industrialization in the late nineteenth and early twentieth centuries brought in its trail a lot of harmful effects such as pollution, environmental degradation, forest depletion which compelled societies to require many corporations to use part of their profit to correct the harm so caused.

For the past two decades, companies have been giving back to their communities a share of the benefits they have reaped from the environment. It can thus be assumed that corporate social responsibility does really enhance the economic benefits and the image of the firms or companies involved.

It is therefore recommended to Ghanaian firms not only to have a documented social responsibility policy but also to ensure that such a policy is adequately publicized and implemented.