Evaluation of Corporate Social Responsibility (CSR) Initiatives on Stakeholder Engagement in Rwanda
DOI:
https://doi.org/10.47672/ajpr.2053Keywords:
Corporate Social Responsibility, Initiatives, Stakeholder EngagementAbstract
Purpose: The aim of the study was to assess the evaluation of corporate social responsibility (CSR) initiatives on stakeholder engagement in Rwanda.
Materials and Methods: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: The study indicate that effective CSR initiatives significantly enhance stakeholder trust and loyalty towards the company. When companies demonstrate a genuine commitment to social and environmental issues, stakeholders, including customers, employees, investors, and communities, perceive them more favorably. This positive perception often translates into increased brand reputation and customer loyalty. Secondly, CSR initiatives contribute to improved relationships with various stakeholders. By engaging in socially responsible practices such as ethical sourcing, environmental conservation, and community development projects, companies build stronger connections with stakeholders. This engagement fosters open communication, collaboration, and a sense of shared values, leading to better long-term relationships. Moreover, study indicates that well-executed CSR initiatives can drive innovation and competitive advantage. Companies that integrate sustainability into their core business strategies often discover new opportunities for growth, cost savings, and market differentiation. Stakeholders, particularly investors, increasingly value companies that prioritize CSR, viewing them as more resilient and capable of long-term value creation.
Implications to Theory, Practice and Policy: Stakeholder theory, social exchange theory and legitimacy theory may be used to anchor future studies on assessing the evaluation of corporate social responsibility (CSR) initiatives on stakeholder engagement in Rwanda. Encourage businesses to develop customized CSR strategies that align with their core values, business models, and stakeholder expectations. Advocate for robust regulatory frameworks that incentivize responsible corporate behavior and set clear expectations for CSR disclosure and performance.
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