Effectiveness of corporate social responsibility in community Development

Corporate Social Responsibility (CSR) is said to be of mutual benefit for both corporations and the communities. This study assesses the effectiveness of corporate social responsibility in community development. This research was a case study that involved two financial institutions in Tanzania. The research employed three data collection techniques namely, documentary reviews, interviews, and questionnaires. At the initial stage, the research relied heavily on documentary reviews it involve analysis of published materials on Corporate Social Responsible and Corporate Gornernance. The study started by approaching the subject from the global level, regional (Africa), and lastly at the local (country) level and finally in the two referred financial institutions were involve in the study. The study found that, among other things, the corporate organizations and their management teams to widen their insight and give more support to education services, Environment Services, health and water services in while donations orphans and in sports actives turned to be not key to community development. Therefore, they should base in providing more funds to three earlier mentioned variables for maximizing community development via CSR. The study thus concluded that, community development via CSR features in real sense it wouldn’t be accomplished through only financial institutions rather involving key stakeholders. It requires supportive hands from all partners including government and other actors such as NGO’s. It was further noted that, CSR is an area of interest since most organizations are now practicing the societal marketing concept which gives emphasis to the fact that organizations must not only be concerned about themselves but also about the society’s well- being and lastly organizations in the 21stcentury are becoming more involve in the social welfare of the community, this has motivated this research, as it will enable the researcher to gain more insight on this concept of CSR.