Corporate Social Responsibility and Organizational Sustainability of the Oil and Gas Service Sector in Rivers State
Vol. 3, Issue 1, 2019, pp. 53-66. ISSN– 2672-4693 (print) 2672-4685 (online)
This study examines the relationship between corporate social responsibility and organizational sustainability of the oil and gas service sector in Rivers State. The independent variable was noted as corporate philanthropy while the dependent variable was measured as productivity, profitability, and market share. Using a cross-sectional survey design, a census of 253 principal officers of the selected firms, the study gathered primary data which were derived with the aid of structured closed ended questionnaire. The data gathered were analyzed using spearman rank order correlation co-efficiency-statistics. Result derived indicates a strong relationship between dimension of Corporate Social Responsibility used in the study and the measures of organizational sustainability. The finding also reveals strong moderating role organizational culture with Corporate Social Responsibility and organizational sustainability in the studied firms Rivers State. It was recommended that management of organizations in the oil and gas sector should emphasize on the sustainable use of resources as well as look after the maintainability of public gardens, gives charity to schools, hospitals, sports clubs as well as make available safe drinking water and sanitation services for the public to enhance stakeholders welfare. Corporations should endeavour to always use environment friendly technology and practices in research and protection of host communities and the environment so as to enhance reduction in waste and use of recycled and environment friendly disposal system.
Key Words: Corporate Social Responsibility, Organizational Sustainability, Corporate Philanthropy, Productivity, Profitability and Market Share
