Title: Corporate Social Responsibility in The Banking Sector of A Developing Country: A Ghanaian Perspective

Title : Corporate social responsibility in the banking sector of
a developing country: a Ghanaian perspective
Name : Gifty Linda Araba Deigh
This is a digitised version of a dissertation submitted to the University of

Bedfordshire.
It is available to view only.
This item is subject to copyright.

CORPORATE SOCIAL RESPONSIBILITY IN THE
BANKING SECTOR OF A DEVELOPING COUNTRY: A
GHANAIAN PERSPECTIVE
Gifty Linda Araba Deigh
A thesis submitted to the University of Bedfordshire, in partial fulfilment of the

requirements for the degree of Doctor of Philosophy
February 2016
Abstract
The study investigates corporate social responsibility (CSR) theory to

contribute to knowledge about CSR within the setting of a developing
economy. In this thesis, the specific opportunities and challenges of financial
institutions pursuing CSR are examined in depth. This study presents a
portrayal of CSR, addressing its role and insight into how CSR is understood
and practised.
The study draws on an interpretive approach and investigates within a multiple

case study context. The choice of cases is based on theoretical sampling, to
advance knowledge in the phenomenon by looking at it in non-Western
settings. The three cases are selected purposefully within the context of a
developing economy: Ghana. The data collection and analysis use multiple
data sources from semi-structured interviews of key management informants
and archival documents which are analysed according to qualitative data
protocols. The data is interpreted via thematic analysis within and across the
cases to generate rich insights into the nature of CSR and its practices within
their setting. The study recognises the emergent divergent and convergent
issues of CSR across the cases with relation to enfolding the literature which
involves inquiring with different literature the similarities and contradictions
with the research findings. This process helps to link the study with the existing
body of knowledge, as well as advance knowledge in CSR.
Based on the analysis, this study suggests that there is a strong orientation
towards philanthropy on what is classified as CSR. It reveals that the context
in which CSR is practised is complex and situationally dependent, with
particular influencing factors such as social welfare issues and culture driving
societal expectations and business decisions on CSR.
This study offers a revised model of CSR, suggesting a non-linear relationship

with the integrated and porous dynamics between the various CSR
components which thus provides insight into the nature of CSR in the banking
sector in Ghana. The findings of the research can provide both academics and
managers with valuable information on CSR practice in a developing country
context.
ii
Author’s Declaration
I declare that this thesis is my own unaided work. It is being submitted for the
degree of Doctor of Philosophy at the University of Bedfordshire.
It has not been submitted before for any degree or examination in any other
University.
Name of candidate: Gifty Linda Araba Deigh
Signature: GLA Deigh
Date: 29th February 2016
iii
Dedication
In loving memory of my dad, Professor Ebenezer. E. Ekuban (1931-1985)
iv
Table of Contents
Abstract ...........................................................................................................ii
Author’s Declaration....................................................................................... iii
Dedication ......................................................................................................iv
Table of Contents........................................................................................... v
List of Tables.................................................................................................. x
List of Figures ................................................................................................xi
Acknowledgements ....................................................................................... xii
List of Publications and Conference papers................................................. xiii
1 Introduction ............................................................................................. 1
1.1 Overview ........................................................................................... 1
1.2 Justification of the Study ................................................................... 1
1.3 Rationale of the Study....................................................................... 1
1.4 Research Aim and Objectives........................................................... 4
1.5 Research Approach and Methodology .............................................. 4
1.6 Structure of the Thesis ...................................................................... 4
2 Setting the Context: Ghana and its banking sector ................................. 6
2.1 Introduction ....................................................................................... 6
2.2 Rationale for CSR in Ghana’s Banking Sector.................................. 6
2.3 Ghana ............................................................................................... 7
2.4 Ghana’s Financial and Banking Sector ............................................. 8
2.5 The Role of Business in Ghana’s Development.............................. 12
Ghana’s domestic retail banks ................................................. 15
2.6 Conclusion ...................................................................................... 17
v
3 Developing the Conceptual Framework: Corporate Social Responsibility
18
3.1 Introduction ..................................................................................... 18
The selection of journals and articles ....................................... 18
3.2 Development and Evolution of Corporate Social Responsibility ..... 29
Corporate Social Performance ................................................. 35
The Stakeholder Theory ........................................................... 36
Business Ethics ........................................................................ 38
3.3 Defining CSR Today ....................................................................... 40
3.4 The CSR Pyramid ........................................................................... 45
3.5 CSR in sub-Saharan Africa and Ghana .......................................... 50
The developing sub-Sahara African region .............................. 50
CSR in Ghana .......................................................................... 52
3.6 Conceptual Framework ................................................................... 55
3.7 Research Gap................................................................................. 57
3.8 Conclusion ...................................................................................... 58
4 Research Methodology ......................................................................... 59
4.1 Introduction ..................................................................................... 59
4.2 Research Design ............................................................................ 60
Philosophical Assumptions....................................................... 61
Research Objectives ................................................................ 64
Research Strategy.................................................................... 64
Research Ethics ....................................................................... 66
4.3 Multiple Case Study Approach........................................................ 67
Selection of cases .................................................................... 69
4.4 Data Collection and Sources .......................................................... 72
Secondary data: Archival records............................................. 73
vi
Primary data: Interviews ........................................................... 74
The Interview Guide ................................................................. 76
Time ......................................................................................... 79
4.5 Managing of secondary and primary data ....................................... 79
The archival data ...................................................................... 79
The interview data .................................................................... 81
4.6 Analysis .......................................................................................... 82
Thematic Data analysis ............................................................ 83
Presenting the data .................................................................. 87
4.7 Case Study Rigour .......................................................................... 87
Credibility ................................................................................. 88
Transferability ........................................................................... 90
Dependability ........................................................................... 94
Confirmability ........................................................................... 95
4.8 The Researcher’s Experiences: Reflexivity..................................... 95
My background ......................................................................... 97
Assessment Phase................................................................... 98
Implementation Phase.............................................................. 99
Dissemination Phase.............................................................. 101
4.9 Conclusion .................................................................................... 102
5 Findings: Within-Case Analysis .......................................................... 103
5.1 Introduction ................................................................................... 103
5.2 The Case: UT Bank ...................................................................... 104
Departmental Function ........................................................... 104
Stakeholders .......................................................................... 106
CSR Approach ....................................................................... 108
Relationship with organisations .............................................. 111
vii
Prioritisation of CSR responsibilities....................................... 114
Additional factors influencing CSR ......................................... 117
CSR influencing reputation..................................................... 117
5.3 The Case: Access Bank................................................................ 118
Departmental function ............................................................ 119
Stakeholders .......................................................................... 120
CSR approach ........................................................................ 121
Community Relations ............................................................. 121
Employee welfare ................................................................... 123
Employee volunteering ........................................................... 123
5.4 The Case: Fidelity Bank ................................................................ 127
Departmental function ............................................................ 128
Stakeholders .......................................................................... 130
The dialogue: engaging with stakeholders ............................. 130
CSR approach ........................................................................ 132
5.5 Conclusion .................................................................................... 143
6 Discussion: Across-Case Analysis ...................................................... 148
6.1 Introduction ................................................................................... 148
6.2 Discussion of themes .................................................................... 149
6.3 CSR in the Ghanaian context ....................................................... 150
Philanthropy: the act of giving ................................................ 161
viii
Community Relations ............................................................. 173
Employee Welfare .................................................................. 184
Corporate Reputation ............................................................. 187
6.4 CSR responsibilities for managers ................................................ 190
Economic responsibilities ....................................................... 191
Legal responsibilities .............................................................. 194
Ethical responsibilities ............................................................ 196
Philanthropic responsibilities .................................................. 198
Cultural responsibilities .......................................................... 200
6.5 Conclusion .................................................................................... 206
7 Conclusion .......................................................................................... 208
7.1 Introduction ................................................................................... 208
7.2 Summary of Study ........................................................................ 208
7.3 Theoretical and Social Contribution to Knowledge ....................... 209
CSR of Ghanaian Banks ........................................................ 211
Social Implications of CSR in Ghana...................................... 223
7.4 Implications of findings.................................................................. 225
7.5 Limitations of Findings and Further Research .............................. 229
7.6 Conclusion .................................................................................... 231
Appendix A: Manual Categorisation of Secondary Data ............................ 268
Appendix B: Interview Protocol .................................................................. 274
Appendix C: Consent Email ....................................................................... 277
Appendix D: Standard Ethics Consent ....................................................... 282
Appendix E: CSR studies which used/adapted Carroll’s CSR pyramid and

showing research methods ........................................................................ 283
Appendix F: Data Structure of Emerged Themes ..................................... 285
ix
List of Tables
Table 2.1 Banks in Ghana’s Financial Sector (2010) 12

Table 3.1 Main journals reviewed on CSR in Africa (2003–2013) 23
Table 3.2 Examples of articles reviewed from top management 24
journals
Table 3.3 Examples of articles reviewed from CSR-specific 26
journals
Table 3.4 Evolution of CSR Construct 29
Table 4.1 Characteristics of the Banks 70
Table 4.2 Types of Documents Collected for Each Case 72
Table 4.3 Overview of Interview Data Collection: Interview and 74
archival data
Table 4.4 Frequency Measure of CSR Activities in Each Bank 80
Table 4.5 Data Structure 85
Table 4.6 Research Timeline 100
Table 5.1 Illustrative Evidence: UT Bank 144
Table 5.2 Illustrative Evidence: Access Bank 145
Table 5.3 Illustrative Evidence: Fidelity Bank 146
Table 6.1 Demonstrating Economic Responsibilities 192
Table 6.2 Demonstrating Legal Responsibilities 195
Table 6.3 Demonstrating Ethical Responsibilities 198
Table 6.4 Demonstrating Philanthropic Responsibilities 200
x
List of Figures
Figure 2.1 Map of Ghana 9

Figure 2.2 The Banking Landscape in Ghana 12
Figure 3.1 Corporate Social Performance Model 35
Figure 3.2 The Typical Stakeholders of an Organisation 37
Figure 3.3 Conceptual Developments of CSR over Six Decades 40
Figure 3.4 Systematic Literature Review 45
Figure 3.5 Carroll’s CSR Pyramid (1991) 48
Figure 3.6 Conceptual Framework 56
Figure 4.1 Research Design 60
Figure 4.2 Multiple Case Design Protocol – Integrative Approach 68
Figure 4.3 Case Study Selection 69
Figure 4.4 Designing and sequencing of interview questions 77
Figure 4.5 Triangulation of data sources from each case 90
Figure 6.1 Banks Dynamics of Social and Economic Benefits 167
Figure 6.2 Influence of Culture on CSR Practice 207
Figure 7.1 UT Bank’s CSR Responsibilities 218
Figure 7.2 Access Bank’s CSR Responsibilities 220
Figure 7.3 Fidelity Bank’s CSR Responsibilities 221
Figure 7.4 Evolution of the Conceptual Framework
232
xi
Acknowledgements
My deepest gratitude goes to my family and my backbone – my husband

Harold, and our boys Nathan and Quincy - for their love, care and support.
This thesis could not have been accomplished without the expert contributions
and guidance of my Directors of Studies - Prof Jillian Farquhar and Dr Barbara
Czarnecka, and Supervisors Dr Carmine De Vita and Dr Maria Rita Massoro.
My appreciation goes to Dr Peter Norrington for his patience and attention to
detail in proof-reading my work.
To my mom, Mrs Dinah Ekuban, I thank you for being my biggest fan and
motivation to carry on during those very difficult times. To my dear friends
Beatrice and Josef-Israel Obeng, your encouragement and prayers were
invaluable. Finally, Ms Christina Brew, I appreciate your support and that much
needed phone call to find out how I was progressing – thank you.
A big gratitude goes to my Lord, Jesus Christ for making it all possible.
xii
List of Publications and Conference papers
Journal Publication (2016)
Deigh, L., Farquhar, J., Palazzo, M., and Siano, A. (2016) "Corporate social
responsibility: engaging the community." Qualitative Market Research: An
International Journal 19 (2), pp. 225-240.
Farquhar, J. and Deigh L. (2016) "Living Dangerously: Generalizing in Case Study

Research." Celebrating America’s Pastimes: Baseball, Hot Dogs, Apple Pie and
Marketing? Springer International Publishing, pp.993-997.
Conference Papers (2015)
Living Dangerously: Generalizing in case study research
Jillian Farquhar, Professor of Management, Guildhall Faculty of Business, London

Metropolitan University, London, UK.
Linda Deigh, Business School, University of Bedfordshire, Luton, UK
Academy of Marketing Conference 2015, University of Limerick, 7–9 July 2015,

Ireland
Cabbalistic cases: Demystifying Generalizability
Jillian Farquhar, Professor of Management, Guildhall Faculty of Business, London

Metropolitan University, London, UK.
Linda Deigh, Business School, University of Bedfordshire, Luton, UK
Academy of Marketing Science Annual Conference 2015, May 12–14 2015,

Denver, Colorado
Philanthropy in developing countries: in the context of sustainable

development and poverty alleviation
Linda Deigh, University of Bedfordshire, UK
Prof Jillian Farquhar, London Metropolitan University, UK
International Conference on National Capacity Building Strategy for

Sustainable Development and Poverty Alleviation, 26–28 May, 2015, Dubai,
United Arab Emirates
xiii
Philanthropy in developing countries: context of Ghana
Prof Jillian Farquhar, London Metropolitan University, UK
20th International Conference in Marketing Communications, 16–17 April 2015,

Izmir, Turkey
The role of corporate community relations in a strategic approach to CSR

communications in Ghanaian Banks.
Prof Jillian Farquhar, University of Bedfordshire, UK
1st UGBS Conference on Business and Development, 8–9 April 2013, Accra,
Ghana
Sustainability of CSR in the financial sector of developing countries
18th International Conference of Marketing Communications, 11–12 April 2013,

Salerno, Italy
The role of corporate community relations for a strategic approach to CSR

communication: Insight from two case studies – Italy & Ghana.
Dr Maria Palazzo, University of Salerno, Italy
Academy of Marketing Conference 2013, 9–11 July 2013, Cardiff, UK
xiv
Corporate Community Relations: A sub-Saharan bank Perspective
Dr Maria Palazzo, University of Salerno, Italy
4th International Colloquium of Place branding and management, 5–6

September 2013, Aosta, Italy
A multiple case study approach to identifying CSR activities in Ghanaian

banks: managing secondary data.
Academy of Marketing Conference 2012, 2–5 July 2012, Southampton, UK
xv
1 Introduction
1.1 Overview
This chapter provides an overview of the thesis. It discusses the justification
and rationale of the research, overall research aims and objectives, as well as
the research approach and methodology. The chapter concludes with an
overview of the structure and content of each chapter within the thesis.
1.2 Justification of the Study

The concept of corporate social responsibility (CSR) has gained significant
attention and interest from both academics and practitioners recently.
Although the concept of corporate social responsibility has been around since
the 1950s there is still debate and varying understanding on this subject,
particularly in the context of the developing world. Despite numerous
interpretations of this increasingly used term across multiple disciplines, one
common underlying factor seems to be the goal of most debates, namely
integrating the interest of a society with the organisation’s mission. That is,
how organisations plan and manage their relationships with key stakeholders.
Recently renewed interest in CSR, ironically, has come at a time when
investors are increasing their demand that organisations should maximize
shareholder returns. It has also come at a time when organisations are
concerned about public opinion and its potential impact on image or reputation
and financial performance. What makes this work particularly fascinating is the
focus of CSR implementation in the developing, sub-Saharan African country
of Ghana, where social needs are at their greatest. This puts onus on
organisations to meet the basic human needs and rights. Thus, the situation
organisations in developing economies find themselves in along with other
challenges could potentially create loopholes in their approach to implement
and sustain CSR. This thesis focuses on the nature of CSR implemented by
Ghanaian banks and how this informs their overall strategy.
1.3 Rationale of the Study

This thesis constitutes an investigation of CSR in Ghanaian banks because of
the extant literature on Ghanaian businesses’ awareness of the concept of
1
CSR (Forstater, 2010). The research is prompted on Visser’s work (2008) –
Revisiting Carroll’s CSR Pyramid: An African Perspective – which challenges
the standardisation of Carroll’s CSR pyramid (1991) and the relevance of the
model in Africa.
To date, Carroll’s model is the most commonly described and used concept of
CSR in Western countries, especially the USA, Europe and the UK (Crane &
Matten, 2004). This model was a major contribution to knowledge of CSR in
the 1990s, which has been cited by several CSR authors (Mitchell & Agle,
1997; Bhattacharya, 2001; Phillips & Freeman, 2003; Matten & Crane, 2005;
Matten & Moon, 2008) and has evolved and been revised over the last two-
and-a-half decades (1991 to 2015) decades, but according to Visser, most of
the research has been in a US context where certain potential influencers in a
different economic and cultural context on perceived CSR priorities may not
have featured.
The goal of this study is to respond to Visser’s call for Carroll’s model in the
African context to be analysed with empirical evidence to explore the important
components of CSR and the key influencers within the same context, by using
Ghana. In particular, Visser questions the suitability of the four-part construct
to interpret the manifestation of CSR in an African context.
Ghana is identified as a developing country based on the specified criteria for

the membership of OECD and world development indicators (World Bank:
World Development Report 1978). The term developing is used to denote low-
and middle-income countries which are defined by the Gross National Income
(GNI) per capita between $1,045 and $12,746 (World Bank: Income
Classification data 2012). In 2013, Ghana’s GNI per capita was $1,760 (World
Bank: Enterprise Survey 2013), thus putting the country in the aforementioned
category. According to the World Bank, a developing country is one in which
the majority lives on far less money (usually under $2 per day), with far fewer
basic public services (such as health, education, transport, potable water and
communications infrastructure) than industrialised countries (World Bank:
World Development Report 2012). In 2012, the poverty headcount ratio at
national poverty lines was 24.2% of the total population, which was an
2
improvement from 31.9% in 2006 (World Development Indicators, 2014).
However, the percentage of the population which had access to improved
water source was only 81%. Both statistics provide clear indications of
challenges with basic amenities in the country to constitute a developing nation
(World Development Indicators, 2014).
However, Ghana is also one of the fastest growing economies across the
sectors of agriculture, extraction and services, with financial services being
one of the areas of significant growth in the services sector. The country
therefore served as an appropriate setting for investigating the CSR
phenomenon in terms of being a developing country that has the
characteristics of advancing domestic businesses and multinational
investments. However, the choice of domestic businesses was more relevant
from the viewpoint of CSR practice not being influenced by the foreign
agendas of the parent companies of multinationals. Current literature on CSR
in Ghana scarcely addresses the financial sector but rather primarily the
extractive industry, with a few exploratory studies across industry sectors,
management and CSR practices of multi-national and local companies; mining
(Tshikata 1997; Boon & Ababio 2009; Amponsah-Tawiah 2011; Andrews
2016); environment (Ndzibah 2009); management (Ofori 2010); CSR
reporting (Belal & Momin 2009) and CSR practices (Kuada & Hinson 2012),
thus providing an opportunity for research in this area.
Thus, this thesis presents the investigation of CSR in retail banking within a
developing economy context of Ghana. Ultimately, a model was identified to
capture how CSR is practised in domestic retail banks in Ghana, whilst
identifying the priority responsibilities of CSR in this particular context and its
relation with their communications strategy.
Therefore, the above discussion presented a gap for this investigative

research to primarily determine CSR approaches taken by domestic Ghanaian
banks in order to contribute positively to the societal issues of human and
environmental development in Ghana. Secondly, it examined how these CSR
interventions were used for corporate reputation purposes. The research
focused on domestic retail banking in the sub-Saharan country of Ghana.
3
1.4 Research Aim and Objectives
The aim of this research is to develop a model of CSR using the context of
retail banks in Ghana. The primary question is:
How is CSR understood and practised in rapidly developing sub-Saharan

African economies?
The key issues that surface from the primary question shapes the main
objectives of the study as follows:
• To identify CSR practices in the context of a developing country -

Ghana.
• To develop and propose a conceptual model of CSR in retail banking

in Ghana.
• To contribute to knowledge of CSR by uncovering new dimensions of

CSR by in-depth and contextual study.
1.5 Research Approach and Methodology

The research basis for CSR in Ghana is therefore to develop a theoretical
framework for explaining the context of CSR through a multiple case study of
domestic banks in Ghana. In order to better understand the CSR interactions
between the banks and society, an interpretive and qualitative research
approach is taken to identify the varying importance of the influencers of CSR
and the interactions between them. The researcher justifies this approach
based on the richness of data and the relationships within and between the
units of investigation (Yin, 2003) that it will provide.
1.6 Structure of the Thesis

Chapter 1 introduces the thesis, specifying the rationale and objectives of the
research. It stipulates clearly what the aim, research question and objectives
are and what research approach and methodology are applied.
Chapter 2 examines Ghana as a developing sub-Saharan country and the

nature of its financial and banking sector. It discusses the factors that operate
and challenge business operations in this region and subsequently affect CSR
practices.
4
Chapter 3 examines the nature of corporate social responsibility by drawing
on a wide range of literature. It explores the evolution of this concept, the
theory and its applicability. Most importantly, it analyses the redefinition of the
established Carroll’s pyramid of CSR and the prioritisation of it four functional
components. This and chapter two develop the conceptual framework and set
the platform on which this thesis is based.
Chapter 4 addresses the research methodology. It describes the overall

research strategy and design; fully detailing the philosophical underpinnings
of this study, as well as justifying the research method of multiple case studies
chosen. It continues to explain and justify the investigative methods used
within this approach.
Chapter 5 explains the data from each of the cases. It justifies the use of an
inductive approach to present and discuss the emerging themes from each
case. These explanations and discussions make sense of the data within each
individual case.
Chapter 6 presents across-the-cases analytical discussion of emergent

themes and presents some key findings from the study. It examines the
similarities and differences across the cases, along with “enfolding the
literature” to support and/or dispute the findings. It cross-examines and
documents the key findings across all the cases.
Chapter 7 draws conclusions from the key findings of the research. It details
the contribution of the study, charts further research and addresses the
limitations of the study.
5
2 Setting the Context: Ghana and its banking sector
2.1 Introduction
This chapter scopes out and examines Ghana’s banking sector within the
context of developing sub-Saharan Africa. It discusses the factors that impact
business operations in this sector and subsequently influence CSR practices.
The purpose of this chapter is to build the argument for selecting a multiple
case study of banks. The aim of a case study approach is to look at the
phenomenon (CSR) in depth and within context to advance understanding of
that phenomenon.
2.2 Rationale for CSR in Ghana’s Banking Sector

Although there is recent increasing attention on CSR in developing countries,
very little is known of the practice of CSR in Africa and especially in the banking
sector of Ghana. Therefore, there is value added in offering a contribution to
knowledge by exploring CSR conceptions and perceptions in a Ghanaian
banking context. The choice of the phenomenon of CSR investigated within
the context of banks in Ghana is as a result of the apparent gap in literature in
this area. The literature on CSR in Africa has been focused on the traditional
sectors such as agriculture, mining and petrochemicals (Blowfield, 2003,
Kapelus, 2002, Acutt et al, 2004), leaving a dearth of research in industry and,
especially, services sectors. This therefore provides an opportunity to make a
contribution to research in the services sector. Banking being a high-growth
area, potentially presents similar problems that have been experienced by
banks in developing countries, which resulted in the recent global economic
crisis. Additionally, it is in vast contrast to the traditional sectors. According to
Visser (2006a), research is dominated by two countries – South Africa and
Nigeria, with business ethics being the focus, in contrast with socially oriented
research.
As discussed earlier, the motivations of CSR in Ghana differ relatively from

those in developed countries in terms of socio-economic priorities and political
issues, along with weak governance and strong cultural traditions.
6
In CSR, the word “corporate” associated with “social responsibility” suggests
a social role or responsibilities expected from and applicable to “larger”
organisations (Jenkins, 2004; Herrmann, 2004). Hence, the size of the banks
justifies the choice of cases from the viewpoint that they are larger than small
and medium-sized enterprises. Moreover, to date, multinational corporations
(MNCs) have dominated the CSR agenda because the larger the company,
the more reputational and brand image risks there are to consider (Jenkins,
2004). Indeed, the recent global financial crisis has left some major brands
suffering from severe damage to their reputations, thus, serving as a warning
to these upcoming brands. Therefore, a focus on domestic banks in this
context, additionally contributes to knowledge from the viewpoint of the banks’
considerations of corporate reputation and brand-building where CSR is
concerned, especially in the face of current, increasing competition in Ghana’s
financial sector. Also, the use of domestic banks provides an insight into the
role they play in responding to social expectations and their involvement in the
social domain (Jenkins, 2004; Luetkenhorst, 2004) which is interestingly
different from the familiar social role of MNCs. An immediate relevance of CSR
to these banks is that CSR increases trust in firms (Brammer & Pavelin, 2006)
and influences their corporate reputation (Lai et al, 2010). In the context of
Ghana’s fast-growing banking sector, these two elements may be what the
banks need to ensure their sustainability, and this study sets out to explore the
possibilities.
2.3 Ghana
The Republic Of Ghana is a lower-middle income country located in the West
African region (see Figure 2.1), with a population of 25.5 million (World Bank
Data, 2012). Although Ghana’s past has been rife with corruption and
mismanagement since independence in 1957, it is rich in minerals and
endowed with a good education system and efficient civil system. In 2013, the
country recorded total enrolment in primary school education at 103%
(including adults) of the official primary education age population, with total
adult literacy rates at 71.5% (Statistics a Glance: Ghana, 2013). Ghana
continues to pursue its key goal of universal access to education (informed by
the Millennium Development Goals), with a focus on access to high school in
7
rural areas and underserved communities through its Secondary Education
Improvement Programme which was launched in 2014 (The Report: Ghana
2016). Indeed, although it is a developing country, by regional standards
Ghana is considered to be a well-administered, democratic country. The
discovery of major offshore oil reserves in 2007 and the onset of its production
in 2010 set expectations for a major economic boost and provided a resilient
Ghanaian economy during the world economic downturn in 2008, posting
some of Africa’s highest annual GDP growth rates. According to the World
Bank, Ghana was one of the fastest growing economies in 2012 with GDP just
under 15%, placed sixth amongst thirteen developing countries (World Bank
African Pulse, 2013). In recent year, Ghana’s continued economic challenges
and its subsequent social implications are contributed by decline in the
currency, low commodity prices and the rise in government debt. The economy
of Ghana depends on global commodities such as cocoa, gold and oil for
income and foreign currency. However, the economic development of the
country has slowed down recently due to temperamental pricing for these
resources, increased spending on domestic public sector wages, and a
national electricity shortage. This has led to a slower than predicted GDP year-
on-year growth of 4% at $33.4bn in 2014, with non-oil GDP totalling $31.12bn
(The report: Ghana 2016). Despite the slower growth, the financial sector
continues to grow in its competitiveness.
2.4 Ghana’s Financial and Banking Sector

The national growth rates albeit slower recently were also significantly
contributed to by the monetary policies of the Bank of Ghana, along with
stability in inflation rates, an influx of foreign direct investments, and on a local
level an increase in small and medium-sized enterprises (Owusu-Antwi 2013;
Ackah, 2014). These positive developments have subsequently impacted the
growth of the financial and banking industry.
8
Figure 2.1: Map of Ghana
Source: Infoplease.com
The financial services sector in Ghana has three main categories of

organisation. These categories consist of Banking and Finance including non-
bank financial services and foreign exchange bureaus; Insurance services in
the area of life and non-life (commercial) segments; Financial/Capital Markets
with a thriving Ghana Stock Exchange.
Ghana’s banking sector is governed by the government-owned central bank,

the Bank of Ghana (BOG), which has overall supervisory and regulatory
authority in all matters relating to banking and non-banking financial business
with the goal to achieve a sound, efficient banking system. The operating
institutions include both foreign and local major banks, Rural and Community
Banks (RCBs), Savings and Loan Companies (SLCs) and other finance and
leasing companies. The informal sector continues to be the bigger portion of
the financial sector. In 2016, the banking landscape consisted of 28 deposit
money banks, 60 non-bank financial institutions, 138 rural and community
banks, and 503 microfinance institutions. The huge size of the rural banks and
microfinance sector addresses potentially lucrative informal sector which
includes farmers, traders, private transport services, artisans, and so forth.
This informal sector although a potentially huge and untapped market provides
business development opportunities for the retail banks, it is also deemed risky
due to the lack of addressing system, high loan non-payment, low savings and
9
lack of appropriate titles to their assets to use as collateral for loans (Kuma,
2014). Examples of some of the major players in this sector include ProCredit,
Opportunity and Garden City Savings & Loans who have comparative
advantage in this market space.
In 1983, Ghana’s financial sector had to undergo an Economic Recovery

Programme (ERP) aimed at restoring the country’s financial system, which
suffered from undue political influence, weak management, inadequate
capital, backward information and accounting systems, poor internal controls,
inefficiency, lack of competition and a large portfolio of non-performing loans
(Hinson et al, 2009). Additionally, the Bank of Ghana Act 2002 (Act 612) was
replaced with the Banking Act 2004 (Act 673) to strengthen the regulatory and
supervisory functions of the BOG (PWC: Ghana Financial Sector, 2014). The
consequence of these reforms led to a growth in the private banking sector
and an influx of direct investments from sub-regional banks, as well as
establishment of domestic banks. Additionally, a significant number of
displaced international organisations from war-torn sub-region countries such
as Sierra Leone and Liberia took advantage of the good business opportunities
to relocate to Ghana. According to Hinson et al (2009), other reasons
contributing to the growth of the banking sector included political stability,
consistency in implementing political and economic policies, stability of the
currency and the entire economy of the country. The last has been as a result
of the successful rehabilitating of major economic sectors which had
previously deteriorated, as well as repair of some economic infrastructure.
Throughout the last decade, Ghana’s growth in its Gross Domestic Product
(GDP) shows the percentage contribution by sector at 33.6% for agriculture,
25.1% for industry and 41.2% for services, includes the financial services
sector (CIA World Fact Book, 2010). The government of Ghana approved the
Financial Sector Strategic Plan (FSSP) in 2003, aimed at developing the
financial sector to meet needs appropriate for a country moving towards
middle-income status, and to create international and regional competitive
opportunities for local organisations (GIPC, 2008). Additionally in 2003, BOG
introduced the Universal Banking Business Licence (UBBL) to increase
competition in the banking sector. To operate under the new license, existing
10
and new banks had to have a minimum capital requirement of 70 billion Cedis
($7.5 million) (PWC: Ghana Financial Sector, 2014). Data from 2003 showed
continuous developments and increase in asset growth and credit expansion
(GIPC, 2008).
As at June 2009, the BOG had registered 26 licensed universal banks (see
Table 2.1) operating in Ghana. Most of these banks are local apart from those
with sub-regional branches, such as Ecobank; whilst Standard Chartered and
Barclays have offshore operations. In 1975, the Ghanaian government
acquired a 40 per cent equity stake in these two foreign-owned multinational
banks, which were established in Ghana during the colonial period, following
an indigenisation decree enacted in the same year. In 2010, another sub-
regional bank called Access also entered the market. In the same period, 34
rural and community banks, 27 credit unions and 2 savings and loans
companies were also identified as formally licensed as micro-finance
institutions (Aboagye, 2009). The exponential growth of Ghana’s financial and
banking sector has created a rather competitive environment which makes it
imperative not just to attract customers, but also to embark on strategies such
as CSR aimed at business development as well as maintaining these
customers and engaging stakeholders positively.
11
Table 2.1: Banks in Ghana’s Financial Sector (2010)
Commercial Development Merchant
Ghana Commercial Bank National Investment Bank Merchant Bank
Standard Chartered Bank Agricultural Development Ecobank
Bank
Barclays Bank International Commercial Continental
SG-SSB Ltd The Trust Bank First Atlantic
Metropolitan Allied Prudential Bank Continental Acceptance
The Trust Bank Amalgamated Bank CAL Bank
Zenith Bank Apex Rural Bank
Intercontinental
Standard Trust Bank
Fidelity Bank
Guaranty Trust Bank
Bank of Baroda Bank
Access Bank
Unique Trust (now UT)
Bank
Source: Updated from Hinson et al (2009)
In Ghana, out of the current total of 26 retail banks (2013), 15 are foreign and
11 are domestic banks making domestic retail banks nearly 50% of the sector
by number.
Figure 2.2 illustrates the banking landscape.
Figure 2.2: The Banking Landscape in Ghana

Source: Bank of Ghana (2010)
2.5 The Role of Business in Ghana’s Development

CSR principles have long been part of enlightened business practice, although
the concept has not been uniformly embraced, with differing views about its
potential usefulness and applicability (Jamali, 2007). Whilst sceptics view CSR
as antithetical to sound business practice and service diluting economic
12
objectives (Clement-Jones, 2005; Murray, 2005), proponents, however, view
CSR as essential to business operations and as an opportunity to look beyond
economic returns to consider wider social concerns (Jackson & Nelson 2004;
Rudolph, 2005).
In the context of Ghana, due to the weak public administration and service
delivery of sub-Saharan African (SSA) governments identified earlier,
business operations in these societies are under pressure to focus their CSR
activities to resolve the socio-economic challenges faced by communities,
which local governments are unable to fully address. Hence, there is a genuine
need of the communities that the businesses are obliged to fulfil. This fulfilment
by businesses, thus, falls under the umbrella of CSR which aims to address
and respond to these social concerns.
According to CED (1971), traditionally the basic purpose of a business function

is to serve the needs and wants of the society for goods and services by
providing jobs and purchasing power. This way of doing business has thrived
in developed countries by developing national wealth and generating
economic growth. However, increasingly society has become concerned
about the imbalance created by increasing affluence and the malfunctioning
of important community services and amenities such as healthcare and social
problems such as poverty, drugs and crime. Thus, businesses increasingly
came under strong social pressures to close the gap for a better quality of life
across the entire citizenry and create a better quality of life for everyone.
Hence, much CSR in developed countries has been driven by the concerns of
investors, businesses, campaign groups and consumers. The scenario under
which organisations have become socially responsible in developed countries
looks different from that of developing countries. Another motive of an
organisation to contribute to society is an expected behaviour not fuelled by
law but rather based on a relatively strong sense of community and tradition
which is essential to the well-being of the business and the wider community.
There is the inherent notion of collectivism and duty-bound attitude to support
the society in which businesses operate. Indeed, governments of some
developing countries facing major social challenges have explicitly sought to
engage businesses in meeting those challenges (UN-SDI, 2007). However,
13
although there is little evidence of the Ghana government being proactive in
soliciting this engagement with domestic businesses and certainly not with
domestic retail banks, there are indications of variations of formal structures
within sector policies and across-industry indicators, such as the Ghana Club
100 (GC 100) which regulates the Business Code, to encourage businesses
to engage responsibly with the society. The Companies Code 1963 (Act 179)
provides the main corporate governance for registered companies, although it
is out of touch with current worldwide corporate governance developments
and requires updating. Additionally, the Commission on Human Rights and
Administrative Justice (CHRA), Ghana Anti-Corruption Coalition,
Transparency International, the media and some non-governmental
organisations (NGOs) that deal with social and environmental issues
contribute to the CSR agenda in Ghana.
GC 100 is an annual, official list which recognises the top 100 companies in
Ghana for improved products and services, as well as encouraging
competition. GC 100, which was established in 1997, is organised by the
Ghana Investment Promotion Centre to recognise the best performing
companies in the country. Club members are ranked to serve as role models
for the private sector and provide a platform for corporate Ghana to interact
with the government at high level. Each year an awards event is organised to
honour corporations for their excellence in governance and performance, and
also to encourage businesses in Ghana to demonstrate and lead the nation’s
business efforts in the global business environment.
GC 100 also works with the Ghana Business Code (GHBC) to incorporate key
elements of the code to provide a value-based analysis of companies’
corporate culture rather than a simplistic outlook on how much money is spent
on CSR (GIPC: Ghana Club100, 2008).
GHBC was an initiative introduced as a result of trade liberalisation in the

country, and globalisation and the challenges and opportunities associated
with it contributing to corporate Ghana is showing increased international
attention on CSR and its subsequent impact on performance and profitability.
The GHBC code was developed from the UN Global Compact 10 principles
14
relating to human rights, labour standards, the environment and anti-
corruption. The Code represents three main areas as requirements for
compliance by corporations in supply chain management, namely business
match-making, business mentoring schemes, and financing, national and
international procurement. These three categories include a) a unique process
of consultation and collaboration, b) a unique product that meets both local
and international requirements, and c) unique possibilities for sustainable
business development.
The Code also adds value to corporates by providing branding opportunities

to attract foreign investments, increasing ability to attract and retain highly
qualified employees, and creating brand value of “best business practice”
towards the consumer (GIPC: Ghana Club100, 2008). The above notion is
supported by PricewaterhouseCooper’s international survey in early 2002,
which found that nearly 70% of global chief executives believed that
addressing CSR was vital to their companies’ profitability (Simms, 2002). A
review of related literature suggests that implementing CSR and the reporting
of the same have become a necessary component of businesses to
substantiate companies’ commitment to society.
Ghana’s domestic retail banks

The banks selected for this research are three domestic banks – Unique Trust
Bank, Fidelity Bank and Access Bank. The full details of the sampling process
are provided in Chapter 4.
Access Bank was selected because although it a domestic bank based on

ownership it originates from the neighbouring country of Nigeria, and serves
as a basis for determining whether banks have CSR as part of their local
community agenda from the onset.
Unique Trust and Fidelity have been chosen because they are both currently
members of Ghana Club 100 (GIPC: Ghana Club100, 2008) which is an
indication of sound performance and governance.
15
This suggests that the affiliation of Unique Trust and Fidelity Bank to the
causes of the Business Code should be evident in their strategies and
operations.
UT Bank
In 2008, Unique Trust (which changed name in 2008 to UT Bank Ghana Ltd)
placed fifth in GC 100’s rankings. The initial focus of UT was centred on
servicing the “unbanked” informal sector, but over the past few years, UT's
services have extended to cover the formal sector. The company claims to
maintain an open, flexible policy that allows it to accommodate the financial
needs of its customers without prejudice. Products include various short-term
loans, working capital financing, business advisory services and trade
financing to SMEs (www.utbankghana.com).
Fidelity Bank
In 2009, Fidelity Bank became the twenty-second bank to be licensed as a

universal bank by the Bank of Ghana under the new Banking Act 2004 (Act
673) after operating as a discount house profitably for eight years. The bank
is owned by Ghanaian and foreign private investors, and institutional investors
including Africa Development Bank and Social Security and National
Insurance Trust (SSNIT) and its executives. Fidelity Bank has two corporate
affiliates – Fidelity Capital Partners Limited and Fidelity Asset Management
Limited. Fidelity Bank’s mission was to be among the top three banks in Ghana
by 2013, based on all key performance indicators and anchored on the
company’s three key pillars – their people, their service and processes, and
return to stakeholders (www.fidelitybank.com.gh).
Access Bank
Access Bank originated in Nigeria, with presence in nine African countries and
the United Kingdom. Access Bank ranks amongst the top 20 banks in Africa
and top 10 in West Africa by capital. The bank’s mission is to “go beyond the
ordinary, to deliver the perceived impossible, in the Quest for Excellence”. The
company’s core values include excellence, ethics, trust, teamwork, passion for
customers and continuous learning. Although Access is not yet a member of
16
GC 100, it has a clear CSR charter on the corporate website. The bank claims
to have a well-designed and integrated CSR strategy having the best interests
of their stakeholders at hand (www.accessbankplc.com).
2.6 Conclusion
In sum, the context in which the phenomenon is investigated is established by
looking at the motivations, differentiators and influencers in the banking sector
of Ghana. The socio-economic priorities and political environment of Ghana
have a huge impact on how businesses operate making it important for CSR
to be examined. Additionally, the informal sector of the country’s economy
reflects on the financial landscape with the ever-expanding micro-financial
institutions and rural banks taking the larger share of the sector. This trend can
potentially serve as an opportunity for the retail banks in future. Whilst there is
an indication of a strong sense of community between businesses and the
community, the implementation of corporate responsibility in Ghana is low,
with weak policy structures, and compliance with and enforcement of policies.
Although there are continued economic challenges in Ghana, Ghanaian banks
have shown resilience to the challenges that have faced counterparts in
developed countries since the economic recession in 2008, which is
sustainable by being responsible banks. Therefore, this research explores
how CSR decisions are made and implemented within the context of domestic
banks in Ghana.
17
3 Developing the Conceptual Framework: Corporate Social
Responsibility
3.1 Introduction
This chapter develops a conceptual framework of CSR to guide the later
empirical work. It reviews the literature on CSR and establishes a conceptual
framework that enables the research gap to be investigated. The purpose is to
give consideration to the dominant concept of CSR and to explore its suitability
within a developing economy context, as discussed in chapter 2.
CSR has been subject to research for some time, and has been redefined and
given different perspectives by academics over several decades. This makes
defining of CSR a challenge, as there are several ways of focusing the
definition of CSR depending on which dimension it is viewed through.
The objectives of this chapter are therefore to:
1. Explore the development and evolution of CSR concepts.
2. Establish the scope in which CSR has been defined to date and its
relevance in the context of this study.
The selection of journals and articles

The approach of Lockett et al’s (2005) literature survey and paper selection
using impact factor was followed, initially using top general management
journals from Harzing’s (2009) and the Association of Business School’s (ABS)
academic journal quality list, namely, Academy of Management Review (ABS
ranking 4*), Academy of Management Journal (ABS ranking 4*),
Administrative Science Quarterly (ABS ranking 4*), Journal of Management
Studies (ABS ranking 4), Journal of International Studies and British
Management Journal (ABS ranking 4). This process was followed for more
specific leading journals in the subject of CSR, namely Journal of Business
Ethics (ABS ranking 3), Business Ethics Quarterly (ABS ranking 3), Business
and Society (ABS ranking 3), and the fairly new recognised entry of Journal of
Corporate Citizenship (ABS ranking 1).
18
CSR has increasingly become an important feature for discussion in the top
management journals due to its relevance to businesses and managers.
Similar to Busenitz et al’s (2003, p.285) analogy, the field of CSR can be
referred to as having ‘highly permeable boundaries’, which allows the nature
of CSR to transcend across different disciplines – that is, different theoretical
or methodological approaches. The focus of the review is to address how CSR
has evolved over time; what areas of CSR have been researched, and the
nature and salience of researched CSR. Thus, the CSR articles were
categorised according to the dominant themes reflected in using corporate
social responsibility as search key words in the titles and abstracts. Articles
that were found as a result covered the areas of ethics, environmental, social,
stakeholders. The nature of CSR was categorised based on the analysis of
theoretical or empirical studies (qualitative and quantitative). The review of
CSR literature is based on approximately a ten-year block (2003–2013),
assembled during the period 2008–2014.
As knowledge of CSR has evolved, different themes and notions have been
explored. Although certain periods have been dominated by certain themes,
they are not mutually exclusive and overlap in their perspectives (as indicated
in Figure 3.3). However, in terms of the review of general management
literature, journal articles were categorised according to the focus of CSR area
researched the country and research method. Literature on environmental
issues is well established, with business ethics also being an area of significant
focus in CSR. This was true across both management and CSR-specific
journals. However, there was an indication of increased debate on social
concept of CSR and stakeholder relationships in the CSR-specific journals.
The most researched countries in the management journals were those of
North America and Europe and a few in Asia. As indicated in the examples in
Table 3.2, the review suggests that articles in the general management
literature were primarily more focused in the USA and North America. The next
most researched region was Europe, with the UK being the primary focus. The
Asian country which showed up most frequently was Japan. These research
articles were predominantly quantitative in methodology, followed by
theoretical research. Additionally, the most dominant CSR issues or areas
19
published in the earlier part of this decade were on stakeholder relationships
and strategic approaches to CSR. This is on the backdrop of a period where
published research had evolved from CSR issues on business environment
and ethics.
However, the literature on CSR in developing countries and Africa in particular

is rather limited and were found mostly in the subject-specific journals. As
shown in Tables 3.1 and 3.4, research publications in CSR-specific journals
on the other hand although focused by country as well, had a broader range,
including covering developing regions of Africa, Asia and South America.
Thus, research on CSR in developing countries has developed from being
generalised and not being sector-specific (e.g. Frynas, 2006) or regional
(Pedersen & Hunicho, 2006) to being focused and specific to countries
(example, Ofori & Hinson, 2007 on Ghana; Phillip, 2006 on Nigeria). The
literature was also contextualised providing more focus to specific industries.
The predominant CSR issues in these CSR specific publications are on
business ethics and the social obligations of organisations.
According to Kossow (2000), although literature is more evident from the

1990s, “the first signs of academic life in business ethics on the African
continent can be traced back to the 1980s”, but was very limited. In agreement
with Wood’s (1991) observations, the debate on social obligations show
evidence of increasing to capture the contexts of developing countries’ social
obligations from the viewpoint of organisations from specific industries or
sectors, effectively impacting business responsibilities via the relationships
with stakeholders (Freeman et al, 2004). According to Gjolberg’s (2009)
studies of organisations in 20 countries mostly from Western Europe, Gjolberg
concluded that country of origin impacts organisations’ CSR practices. Thus,
he maintains that it is likely that these differences become more obvious when
compared to countries in developing countries. Therefore, it is within reason
that CSR subject-specific journals focused on engagement of businesses in
particular geographical and industrial contexts in a wider variety of countries
in sub-Saharan Africa, South America, and Asia (see Table 3.3). Studies in
CSR in developing countries illustrate the context dependency of CSR,
according to country and industry. Review of literature suggests that earlier
20
research in African developing countries have been dominated by themes on
environment and ethics (Ite, 2004, 2007a, 2007b; Ofori & Hinson, 2007), which
is similarly in accordance with Lockett et al’s (2006) findings from top
management journals. Recent years have however seen an increase in social
issues and stakeholder obligations (Schinidheiny, 2006), nevertheless, in only
pockets of the African continent, with dominating countries being South Africa
and Nigeria. This is in accordance with Visser (2005a), who suggests that CSR
literature on sub-Saharan Africa is predominantly from South Africa, with scant
research from West Africa like Côte d'Ivoire (Scharge & Ewing, 2005) and
Nigeria (Amaeshi et al, 2006); East Africa like Kenya (Dolan & Opondo, 2005;
Tanzania (Egels, 2005); southern Africa like Zambia (Hamman et al, 2005)
and Northern Africa (Hamann et al, 2005). Additionally, the studies depict
differences in different African developing countries (Babarinde, 2009; Jamali
& Mirshak, 2007), which adds to the contextual argument of research in CSR.
Overall, it is important to note that the literature review reveals a large number
of research studies that have used and/or adapted Carroll’s model since it’s
proposal in 1991. Evidence demonstrates that the initial studies were done by
Carroll testing the model in the US. Additional studies focused on North
America, Europe and in a few cases in Japan. It is only in the recent decade
of the 2000’s that has seen a revisit of the CSR pyramid in research studies in
developing countries. In Appendix E, the table further demonstrates evidence
that literature was more focused on developed countries rather than
developing countries. The application of the CSR pyramid was also more
prevalent in the context of developed countries with sparse use in the
developing country context. This dearth of CSR literature in the developing
country context, further reiterates the proposed gap in research to address the
relevance of the CSR pyramid within the context of a developing country.
In terms of methods used, literature in top management journals has had more
weighting towards empirical research, and is dominated by quantitative
methods (see Table 3.2). Again, this supports Lockett et al’s (2006) findings
of CSR articles in top management journals reflecting the preference of
positivist research. In the last decade, however, there has been an increase in
qualitative research, both in the top management journals and the CSR-
21
specific journals. Dominant research papers on environmental issues have
focused on traditionally high impact sectors like agriculture (e.g. Blowfield,
2003; Scharge & Ewing, 2005; Dolan & Opondo 2005), mining (e.g. Kapelus,
2002) and petrochemicals (e.g. Acult et al, 2004, Edoho, 2008). This therefore
leaves a huge research gap in other sectors such as the services sector.
Nigeria’s literature particularly reflects environmental issues, ethical issues
and corporate citizenship in the petroleum sector, whereas literature in South
Africa reflects environment, ethical issues and CSR strategy with a sectoral
focus on mining and health. Although there is a current growing trend in social
relationships of businesses in Africa, this is still under-developed from the
viewpoint that the literature is very specific to geographical locations, and
different countries portray different CSR practices. Visser et al (2005) agrees
that CSR literature in this area still remains sparse. Table 3.1 illustrates the
main types of journals reviewed that covered the themes explored in CSR both
from regional and country-specific context.
The current high volume of CSR literature focuses on certain countries in

Africa, thus, provides great scope for research in Africa and in particular,
Ghana, in order to increase and improve the diversity of CSR content and
extend geographic coverage. Attention to the services sector such as
education, professional and financial services is limited too. Additionally,
research focuses on CSR practice of multinational companies (e.g. Frynas,
2000, 2001; Boele et al, 2001; Wheeler et al, 2002; Ite, 2004, 2005), especially
from the viewpoint of their global agendas versus local needs, leaving a
research gap for CSR of domestic companies.
The above review of literature suggests that the nature and focus of existing
literature on CSR in general management in developed countries and CSR-
specific journals dominating in developing regions and countries suggested
that there was a huge scope for developing insights and contributing to
knowledge on research in CSR in the developing context of Africa, specifically
in the services sector in Ghana.
22
Table 3.1: Main journals reviewed on CSR in Africa (2003–2013)
Journals Geographical Focus of Africa
Number Country
Business Ethics: A European Review 34 South Africa
Journal of Corporate Citizenship 22 South Africa, Kenya,
Ghana
Business Ethics Quarterly 21 South Africa, Nigeria
Journal of Business Ethics 13 Nigeria, Tanzania,
Ghana, Uganda
Business and Society 12 South Africa, Malawi,
Nigeria
Corporate Social Responsibility & 3 South Africa, Nigeria
Environment Management
International Journal of Bank Marketing 2 Ghana, Jordan
23
Table 3.2 Examples of articles reviewed from top management journals
Author & Year Journal Countries Method Research Questions Findings
Rodell, 2013 Academy of USA Quantitative Examines the connection between Suggested that volunteering was
Management individuals' volunteering and their associated with both volunteer and job
Journal jobs. meaningfulness, and that the pull of
meaningful volunteer work was even
stronger when employees had less
meaning in their jobs.
Flammer, 2013 USA Quantitative Examines whether shareholders are Study suggests that the positive
sensitive to corporations' environmental (negative) stock market reaction to eco-
footprint. friendly (-harmful) events is smaller for
companies with higher levels of
environmental CSR.
Surroca et al, 2013 North America Quantitative Examine how multinational enterprises Propose that mounting stakeholder
(USA), Europe (MNEs) respond to pressure to conform pressure in an MNE's home country
(UK), Australia, to their stakeholders' expectations for leads to the transfer of socially
greater attention to CSR. irresponsible practices from its
Asia (Japan)
headquarters to its overseas
subsidiaries.
Chin et al, 2013 Administrative USA Quantitative We propose that CEOs’ political They indicate that the political
Science Quarterly ideologies will influence their firms’ ideologies of CEOs are manifested in
CSR. their firms’ CSR profiles.
Muthuri et al, 2009 British Journal of UK Qualitative Investigate whether and how employee Contributes to our understanding of EV
Management volunteering contributes to social and the factors that enable it to create
capital. social capital.
Galbreath, 2010 Australia Quantitative Empirical research to demonstrate A formal strategic planning effort is
what actually shapes or drives CSR. positively linked to CSR.
Bondy & Starkey, UK Qualitative Investigating the extent to which foreign Global strategies are legitimated and
2014 national culture and related local issues local issues are marginalized.
are incorporated into the CSR policy.
24
Cheah et al, 2011 Canada, Kenya Quantitative Characteristics of socially responsible Benefits from understanding the
investors (SRIs) demographic profile of SRIs - lower
cost of capital and improves and CSR
ranking
Zyglidopoulos, Turkey Quantitative Corporate Reputation Downsizing has a negative impact on
2005 corporate reputation.
Flores et al, 2003 California Mexico Qualitative Argues that emerging or low-income The use of entrepreneurship, values
Management markets can be profitable if companies conflicts, and consumers’ desire for a
Review create productive customers by better life.
focusing on cultural innovation, cross-
selling, customer retention, and
involvement with the community.
Mirvis & Googins, USA Qualitative Reports on business leaders Outlines a set of steps to measure
2006 throughout the world who are corporate responsibility performance,
making corporate citizenship a key
priority
Vallaster, et al, USA Qualitative Argues that CSR is changing the rules Offers a framework for companies to
2012 of branding but it is unclear how. address CSR and their brands
strategically.
Friedman & Miles, Journal of USA Theoretical Enables an analysis of the Insight into why and how
2002 Management organization/stakeholder relationship. organisation/stakeholder relations
Studies change over time.
Brammer & UK Quantitative Data on a sample of large firms, Demonstrate the need to achieve a ‘fit’
Pavelin, 2006 estimates a model of corporate among the types of corporate social
reputation. We find reputation to be performance undertaken and the firm’s
determined by a firm's social stakeholder environment.
performance, financial performance,
market risk, the extent of long-term
institutional ownership, and the nature
of its business activities
Lockett et al, 2006 Various countries Theoretical Investigation of the status of CSR Most popular issues investigated in
research within management literature. management journals have been
environmental and ethics.
25
Table 3.3 Examples of articles reviewed from CSR-specific journals
Author, Year Journal Country Method Theme
Ahmed, 2006 Journal of Pakistan Qualitative CSR strategy / Stakeholder relations
Corporate
Citizenship
Amaeshi et al, 2006 Nigeria Theoretical Social obligation and Human rights
Battisti, 2009 Austria Qualitative Corporate Citizenship
Birch, 2008 USA Theoretical Stakeholder-Business dialogue
Chesters, 2008 Australia Qualitative Corporate philanthropy
Dolan & Opondo, Kenya Qualitative Employee volunteering
2005
Egels, 2005 Tanzania Qualitative Stakeholder relations
Frynas, 2006 Argentina, Mexico, Theoretical Environmental
Nigeria, Malaysia,
Pakistan
Idemidia, 2008 Developing regions Theoretical CSR-Business development linkages
McIntosh, 2003 Middles East, North Quantitative CSR initiatives by MNCs
Africa
Pedersen, 2005 Sierra Leone, Qualitative Corporate Citizenship practices by developing agencies
Uganda,
Mozambique
Phillips, 2006 Nigeria Quantitative Cross-sectoral social obligations
Schrage & Ewing, Côte d'Ivoire Quantitative Stakeholder relationships (agriculture sector)
2005
Bramner & Business Ethics UK Qualitative Charitable donations
Millington, 2003
26
Brei & Bohn, 2011 Various African Qualitative CSR & culture
countries
Brennan & Baines, South Africa Qualitative Business Ethics
2006
Graafland, 2004 Denmark Quantitative Corporate reputation
Kujala, 2004 Finland Qualitative Business Ethics
Mikkila, 2003 Finland Theoretical Corporate Social Performance
Moore, 2003 UK Theoretical CSR practices
Toppinen & South Africa, Qualitative Stakeholder involvement
Korhonen-Kurks, Sweden, Finland
2013
Vitell & Paotillo, Spain, Turkey, UK, Qualitative CSR strategy
2004 USA
Buch and Dixon, Sustainable South Africa Qualitative Environment
2009 Development
Ite, 2004 Nigeria Qualitative Environment
Rinzin et al, 2007 Bhutan & Qualitative Environment
Netherlands
Alemagi et al, 2006 CSR & Cameroon Quantitative Environment
Environmental
Management
Edoho, 2008 Nigeria Quantitative Environment
Idemudia and Ite, Nigeria Theoretical Community / Stakeholder relations
2006
Kehbila et al, 2009 South Africa Quantitative Environment
Mitchell & Hill, 2009 South Africa Quantitative Environment
Hamann et al, 2005 Business & South Africa Theoretical CSR Strategy
Society
Pedersen, 2006 Stakeholder relations
27
Ofori and Hinson, Corporate Ghana Qualitative Business Ethics
2007 Governance
28
3.2 Development and Evolution of Corporate Social Responsibility
Although CSR has been widely discussed in the last 50 years, arguably, the
idea of businesses having social responsibility has been around since the
nineteenth century, with many of its roots in religion. The beginning of the
Industrial Revolution in Britain brought about the development of factory towns
such as Bourneville in 1879 (by George Cadbury), Port Sunlight in 1888
(William Lever, later Viscount), and Saltaire in 1851 (by Titus Salt, later
knighted) (Smith, 2003). During a time when Britain’s economic condition and
environmental pollution from industrialisation were at its worst, these towns
were built by these large employers to provide their workers with decent
housing and amenities such as clean water, schools, libraries, hospitals, parks
and churches. The aim of doing this was to increase positive moral attitude
and productivity amongst employees. As a result, these organisations would
be less vulnerable to any political unrest and militancy, which was evident in a
number of industrial towns at the time. This was a way the employer promoted
the physical and moral welfare of the workers. The fundamental idea here can
be described as CSR. In recent times, many organisations continue to
increasingly consider it necessary to define their roles in society and commit
to apply social and ethical standards to their businesses (Lichtenstein et al,
2004; Pinkston & Carroll, 1994). However, many businesses struggle with the
effort to implement (Lingreen et al, 2009).
In any case, it is only since the 1950s that there has been substantial formal
literature and research on this subject, mostly from developed countries such
as the USA, the UK and Western Europe. Academic theories and themes of
CSR were substantially developed from this period onwards. Table 3.4
captures the evolution of CSR literature over the decades.
29
Table 3.4: Evolution of CSR Construct
1950s 1960s 1970s 1980s 1990s 2000s
Beginning of modern Expansion of Proliferation of Empirical Research Alternative Theoretical developments
era construct definitions definitions thematic and measurement
framework initiatives
Bowen (1953) Davis (1960) Heald (1970) Jones (1980) Wood (1991) Moir (2001)
Eells (1956) Frederick (1960) Johnson (1971) Tuzzolino & Armandi (1981) Carroll (1991) Porter & Kramer (2002)
Heald (1957) McGuire (1963) Steiner (1971) Dalton & Cosier (1982) Carroll (1994) Irwin (2003)
Selekmans (1959) Davis & Bloomstrom Manne & Wallich (1972) Strand (1983) Swanson (1995) Waddock (2004)
(1966)
Davis (1967) Davis (1973) Drucker (1984) Clement-Jones (2005)
Walton (1967) Eilbert & Parker (1973) Cochran & Wood (1984) Matten & Crane (2005)
Ealls & Walton (1974) Aupperle, Carroll & Hatfield Visser (2006)
(1984)
Sethi (1975) Wartick & Cochran (1985) Visser (2008)
Ackerman (1973) Epstein (1987) Jamali & Mirshak (2007)
Ackerman & Bauer (1976) Puffer & McCarthy (2008)
Preston & Post (1975) Babarinde (2009)
Holmes (1976) Porter & Kramer (2011)
Bowman & Haire (1975)
Fitch (1976)
Abbott & Monsen (1979)
Zenisek (1979)
Carroll (1979)
According to Carroll (1999), the first recorded perspective of CSR was by
Bowen (1953). Bowen defined CSR as an organisation’s social obligation “to
pursue those policies, to make those decisions or to follow those lines of action
which are desirable in terms of the objectives and values of our society” (p.6).
In other words, the decisions made and actions of these organisations have
varied impacts on the lives of the citizens and depend on what the objectives
and values of a specific society are. Also, a survey by Fortunes Magazine
(1949, as cited by Bowen, 1953), suggested that the editors of the magazine
by CSR or the “social consciousness” of managers meant that businessmen
were responsible for the consequences of their action which was beyond their
organisation’s financial performance. In this survey, 93.7% of the
businessmen who responded agreed to the statement. This draws attention to
the fact that as far back as that decade, there was a need and
acknowledgement for organisations to be socially responsible. Bowen
stressed in his book that social responsibility contains an important truth that
must guide business in the future.
Bowen’s definition of CSR as a social obligation was later supported by Heald

(1970). This view has also been advocated in more recent concepts (Carroll,
1979, 1999) and in marketing literature studies (Brown & Dacin, 1997; Sen &
Bhattacharya, 2001).
Throughout the 1960s, 1970s and 1980s, CSR definitions were expanded,
proliferated and subsequently supported by empirical research. The 1960s
marked a significant growth in an attempt to more accurately define and
formalise CSR definitions. Davis (1960, p.70) defined CSR as “businessmen’s
decisions and actions taken for reasons at least partially beyond the firm’s
direct economic or technical interest”. Davis (1960) argued that social
responsibility should be seen within a managerial context, where socially
responsible business decisions could be justified as having the ability to bring
economic gain to the organisation in the long run, thus paying it back for being
socially responsible. Ultimately, if a business avoided its social responsibility,
this would lead to a fall in its economic power. Consequently, Davis became
well known for his views on the positive relationship between social
responsibility and business power or long-run economic gain to the business.
Frederick (1960) contributed to this concept by saying that businessmen
should oversee the operations of a business such that the production and
distribution enhances the total socio-economic welfare of the society. The
definition of CSR became more precise in this decade when Joseph McGuire,
in his book, Business and Society (1963) stated that, “The idea of social
responsibility supposes that the corporation has not only economic and legal
obligations but also certain responsibilities to society which extend beyond
these obligations” (p.144). Although he did not clarify in the definition what
these obligations are, he explained by saying that organisations have to take
interest in politics, in the welfare of the community, in education, in employees’
happiness and in the entire social world. He also stated that businesses should
act “justly” as proper citizens (p.144). This latter statement hints to the notion
of corporate citizenship and business ethics – concepts which are still being
used to date in reference to organisations. Corporate citizenship in broad
terms is the role of a company in considering its responsible involvement within
the wider community. Walton (1967), in a book entitled Corporate Social
Responsibilities, addressed CSR as concerned with the role of the business
firm and the businessperson in modern society. He presented a fundamental
definition of social responsibility as follows:
In short, the new concept of social responsibility recognises the

intimacy of the relationships between the corporation and society and
realises that such relationships must be kept in mind by top managers
as the corporation and the related groups pursue their respective goals.
(Walton, 1967, p.18)
Walton elaborated on this definition by indicating an element of volunteerism

– an indirect linkage of certain other voluntary organisations to the corporation,
by its reference to related groups, and the acceptance that costs are involved
for which it may not be possible to gauge any direct measurable economic
returns (p.18). A more radical viewpoint on CSR in this period came from
scholars like Friedman (1962) who argued that an organisation’s sole
responsibility is to increase profits and maximise returns to shareholders, while
obeying the laws of the country in which it operates. Recently, Karnani (2010)
supported Friedman by stating that the very idea that companies have a
32
responsibility to act in the public interest and will profit from doing so is
fundamentally flawed. He suggested that companies that simply do everything
they can to boost profits will end up increasing social welfare.
Nevertheless, although social obligation was the dominant theme in the 1960s,
CSR issues were also considered by marketing academics by establishing the
relationships between social obligations and marketing functions as well as
broadening the scope of stakeholders. Such research has been developed
more recently and covered by cause-related marketing (e.g. Barone et al,
2008; Varadarajan & Menon, 1988), social sponsorships (e.g. Simmons &
Becker-Olsen, 2006), environmental marketing (e.g. Zeithaml & Zeithaml,
1984; Menon & Menon, 1997), communicating with consumers concerning
CSR issues (e.g. Caruana & Crane, 2008), and corporate reputation (e.g.
Berens et al, 2005; Brown & Dacin, 1997; Lichtenstein et al, 2004; Wagner et
al, 2009). The development of CSR theme into stakeholder relationships
concerns the organisations support of stakeholders needs.
The 1970s interpretation of CSR were ushered in by Heald (1970) who

revisited his initial definition in the 1960s by explaining that he was concerned
with the idea of social responsibility “as businessmen themselves have defined
and experienced it… sought in the actual policies with which they were
associated” (p.xi). He then suggested that business people were significantly
involved with corporate philanthropy and community relations. With time, there
were fewer definitions but more empirical research and alternative themes
began to mature. Some of these themes predominantly include Corporate
Social Performance, Corporate Social Responsiveness, Stakeholder Theory
and Business Ethics which have continued to be recommended as an integral
part of an organisation’s managerial process. Johnson (1971) purported social
responsibility of a firm as, “…one whose managerial staff balances a
multiplicity of interests. Instead of striving only for larger profits for its
stockholders, a responsible enterprise also takes into account employees,
suppliers, dealers, local communities and the nation” (p.50). This was the first
indication of a stakeholder approach and actually naming who the
stakeholders might be. This was later revisited by Freeman in the 1980s to
develop Stakeholder Theory. Under the label of corporate social
33
responsiveness, Ackerman (1973) built on the stakeholder approach by
analysing the concept as monitoring and assessing of environmental
conditions, attending to stakeholder demands, and designing plans and
policies aimed at increasing positive impact both to the organisation and
society. Steiner (1971), on the other hand, extended the meaning and specific
circumstances under which CSR might be interpreted and applied by
presenting models for determining the social responsibilities of business
(p.157). Overall, the 1970s saw an increase in the mention of corporate social
performance (CSP), particularly by Sethi (1975) as well as CSR (Carroll,
1977). In support of the concepts of stakeholder approach and applicability of
CSR which started in the 1970s, it became more established in the 1980s with
Wartick and Cochran (1985).
In 1984, Peter Drucker proposed a “new meaning” of CSR, following on from

his previous work in 1954. He presented the idea that profitability and
responsibility were compatible notions; hence, business ought to “convert” its
social responsibilities into business opportunities. Thus, the “social
responsibility” of a business was “to turn a social problem into economic
opportunity and economic benefit, into productive capacity, human
competence, into well-paid jobs, and into wealth” (Drucker, 1984, p.62). It is
noteworthy that the positive impact in relation to this concept was not just for
the firm but also for the stakeholders. The operationalisation of CSR in relation
to financial performance was exemplified in the empirical work of Cochran and
Wood (1984) which questioned whether socially responsible firms were also
profitable firms. From this empirical study, social performance and financial
performance operationalised in various ways were surveyed, and a reputation
index was developed as their measure of CSR. This concept of relation
between CSR and profitability was duly supported by empirical study by
Aupperle et al (1985). This study was one of the first to use a definitional
construct of CSR from the theoretical literature as a measure of CSR, thus,
operationalised Carroll’s four-part definition of CSR (Carroll, 1979) and sought
the opinions of a sample of executives. This confirmed the priorities of the four
components in this sequence: economic, legal, ethical and discretionary
(p.457). In this context, “economic” was labelled “concern for economic
34
performance” by the firm; whilst “legal, ethical and discretionary” were labelled
“concern for the society”. In other words, the economic responsibility of the
firm was not considered as a social responsibility, whereas the three non-
economic components determined the social orientation of the firm.
The following discussions picks up on three main concepts that have shaped
what CSR is today; Corporate Social Performance (CSP), Stakeholder Theory
and Business Ethics.
Corporate Social Performance

The quest to “go beyond” CSR in the 1980s stemmed from the earlier notions
of social and financial performances of firms, and the growing acceptance of
CSP as a more thorough theory of classifying CSR. However, although CSP
seems to be without a precise definition, it is a term which has been used in
business and society literature over many years. Seemingly, it has been used
interchangeably with CSR. Sethi (1975) described the dimensions of CSP by
distinguishing between corporate behaviour, namely, “social obligation,”
“social responsibility,” and “social responsiveness.” According to Sethi, social
obligation refers to corporate behaviour in response to market forces or legal
constraints which indicates an economic and legal criterion. By contrast, social
responsibility goes beyond social obligation and thus refers to corporate
behaviour which is congruent to “social norms, values and expectations of
performance”. Sethi’s social responsiveness is regarded as an adaptation of
corporate behaviour to social needs which was in turn described as an
anticipatory and preventive stage by Ackerman (1973) and Ackerman and
Bauer (1976).
Carroll (1979) also describes CSP as the three-dimensional integration of a

corporation’s social responsibility, social responsiveness and social issues.
The CSP model in Figure 3.1 reflects the interaction between these three
areas.
35
The Principles of
social responsibility
The Process of social The Policies developed

responsiveness to address social issues
Figure 3.1: Corporate Social Performance Model

Source: Wood (1991)
The principles of social responsibility are the firm’s obligation and

accountability and the process of social responsiveness to social issues is a
firm’s actions and activities to achieve those obligations which are categorised
on a continuum of “doing something or nothing”. Ackerman and Bauer (1976)
stressed the development of internal management processes for effecting
social responsiveness by making organisations more flexible in responding to
external change in the social environment. These responses or activities
ultimately feed back into the policies that are developed to address social
issues. The work of Preston and Post (1975) emphasised the organisation’s
wider engagement in shaping and delivering public policy commitments, which
may be influenced by government regulations and subsequently restructure
the industry and impact stakeholders.
The Stakeholder Theory

The impact of an organisation on its stakeholders was addressed by Freeman
(1984) who identified the Stakeholder Theory as a model of groups which are
stakeholders of a corporation, and for whom management should give due
regard to their interests. According to the theory, the organisation’s
stakeholders are those who are motivated by different interests to participate
in the organisation’s activities (Donaldson & Preston, 1995). It is important to
note the differing levels of relationships stakeholders have with the
36
organisation. Some stakeholders are directly involved in the organisation’s
productive activities, for example, employees and managers. Other
stakeholders support organisational activities indirectly, for example, investors
and strategic partners. The third set of stakeholders operates at the periphery
of the organisation for a variety of reasons, e.g. customers, regulators,
residents and pressure groups. As stated by Ferrell (2004), the relationship an
organisation will have with its stakeholders is dependent on the diversity of
stakeholders, the definition of what is held important by these stakeholders,
and the stakeholder’s level of influence on organisations decisions.
Mitchell et al (1975) suggested three critical elements in assessing stakeholder

influence – their power, legitimacy, and urgency of issues. Power is related to
the ability to exercise one’s will over others (Schaefer, 2002); legitimacy
relates to socially acceptable and expected structure that help define whose
concerns really count; and urgency deals with the time-sensitive nature of
stakeholder interactions.
To date, the importance of an organisation’s relationship and activities with

stakeholders continues to grow; making it more difficult for the latter’s interests
to be ignored. The level of relationships the various stakeholders have with an
organisation is illustrated in Figure 3.2, with stakeholders in the inner circles
having a relatively closer relationship than those in the outer circles. The
development of technology has, however, made these relationships more
complex and less straightforward, as dispersion and use of information in
activities described as social journalism means those stakeholders in the outer
circles could potentially have the same access to the organisation as those in
the inner circle. Online technologies encompass a range of interactive tools
and communication techniques including blogs, communities, podcasts, video
streams and social networking (Chaffey, 2007) which have given stakeholders
the ability to speedily put organisations under pressure to be transparent in
their activities within society.
37
Pressure groups Customers
Strategic
Investors
Partners
Firm
Employees
Figure 3.2: The Typical Stakeholders of an Organisation

Source: Theaker (2006)
The stakeholder relationships of organisations are paramount to supporting

stakeholder needs and subsequently the development of CSR. The nature of
these relationships and types of needs is relative to the context of this study
and reflected in the upcoming conceptual framework.
Business Ethics
Business ethics views the extent to which business practice can be considered
as socially responsible (Jones, 1995). This questions how genuine an
organisation’s social activities are and whether they are done out of self-
interest. Swanson (1995) argued about whether organisations are simply
conforming to social norms and practising paternalism, such as philanthropic
donations and employee-friendly policies, respectively. Steiner and Steiner’s
(2000) definition of CSR bordered on business ethics by arguing that social
responsibility is the duty an organisation has to create wealth by using means
38
that avoid harm, protect or enhance societal assets. Earlier, Zenisek (1979)
expressed concerns about the lack of empirical support to CSR concepts, thus
developed a new model of CSR which reflected a fit between “business ethics”
and “societal demands and expectations” based on research in CSR over four
time periods, which would facilitate measurement and further research.
Although Zenisek’s contributions were insightful, there was not a definition of
CSR per se and the new model did not lead to measurement attempts.
Therefore in 1979, in an attempt to develop a complete definition of CSR,
Carroll proposed a four-part definition of CSR which captured all business
responsibilities that went beyond “making profit” and “obeying the law”. Carroll
attempted to bridge the gap in previous definitions of CSR by capturing a full
range of responsibilities of business to society and thus, offered the following
definition:
The social responsibility of business encompasses the economic, legal,

ethical and discretionary expectations that society has of organisations
at a given point in time (Carroll, 1979, p.500).
Carroll’s (1979) main argument at this point was that for managers and
organisations to engage in being socially responsible, they needed to have: 1)
a basic definition of CSR; 2) an understanding of the issues for which a social
responsibility existed; and 3) the specification of the philosophy of
responsiveness to the issues (p.499). This definition was also embedded in
the conceptual model of CSP (Carroll, 1979) discussed earlier. It is worth
noting that it is this definition which was used in the empirical study by
Aupperle et al (1985) to initially test and confirm the priority responsibilities of
a firm. This proposal was later revisited and presented as Carroll’s CSR
pyramid (1991).
The 1990s saw the focus of literature on how the concept of CSR could work
in practice. Wood (1991) identified two sets of managerial processes useful to
achieve a proactive socially responsible stance, that is, issues management
and environmental assessment. These are aspects of management that
modern businesses today claim are being increasingly used. As alternative
themes emerged and the expansion of CSR continued, focus shifted from the
39
“what” of CSR (the conceptualisation phase) to the “how” (the implementations
phase), therefore assessing how the concept works in practice. This shift in
focus on CSR is presented in Figure 3.3.
3.3 Defining CSR Today

Evidently, the above discussion about CSR is generally a complex construct
with multiple definitions (Dahlsrud, 2008; Lindgreen et al, 2009a) and
meanings. Additionally, the variety of viewpoints indicate that none of the
concepts have been singled out as the main determinant of CSR and neither
does it have a single general theory (Lindgreen & Swaen, 2010). The main
conceptual viewpoints that have emerged out of the literature over time, as
captured in Figure 3.3 illustrate CSR as a social obligation, CSR as
stakeholder obligation, CSR as ethics-driven and CSR as managerial
processes.
This literature review investigates the development and evolution of CSR

theory and identifies a gap in the review of the CSR literature which this study
attempts to fill and make contribution to knowledge. As the notion of CSR is
defined by the responsibilities of organisations to societies, it is studied in the
context of where it is being practised. Thus, in different perspectives and
different societal contexts, CSR concerns the relationship between
organisations and societies (Halme et al, 2009), along with evolving disciplines
which contribute to our understanding of these relationships (Dobers, 2009).
40
Management
1990s practice
1980s Business
ethics Business
operations /
social activities
Business
Stakeholder operations /
relationships social
activities Moir (2001)
1970s Matten & Crane (2005)
Business
operations Wood (1991)
Economic Business
power Carroll(1991)
operations
1960s
Jones (1980)
Social Aupperle,Carroll &
Economic Business welfare
power operations Hatfield (1984)
1950s
Heald (1970)
Business Sethi (1975)
Business Davis (1960)
policies operations Carroll (1979)
Frederick (1960)
CSR
Bowen (1953)
Heald (1957)
Figure 3.3: Conceptual Developments of CSR over Six Decades

It has been especially difficult to integrate and compare the past definitions
because corporate social responsibility has been assessed in different
conceptual entities (Ferrell, 2004). The justification of definitions presented in
this study is based on the most frequently used definition which is more
significant than a definition that is hardly used (Geva, 2008). In any case, these
varying viewpoints are still evident today and explain the differences in
opinions on the meaning of CSR. Much of the research on CSR over the
decades was focused on its conceptualisation (Carroll, 1979; Clarkson, 1995;
Wood, 1991), with limited contemporary studies on the implementation of CSR
(Porter & Kramer, 2002), especially in the context of developing countries
(Visser, 2008). Despite numerous efforts to bring clarity to the definition of
CSR, both the academic and corporate worlds still hold uncertainty as to how
CSR should be defined. Indeed, some argue that there is no definition
(Jackson & Hawker, 2001), which others disagree with (Geva, 2008). Geva
(2008), rather, claims the problem is in the abundance of definitions, which
according to Van Warrewijk (2003) is often biased by special interests, and
therefore prevents the development and implementation of the concept.
Indeed, the 2000s have so far captured the development of CSR literature as
part of management practice. Thus, there is still room for developing and
resolving the theoretical concept of CSR with empirical issues (Morimoto et al,
2005; McWilliams et al, 2006) by investigating the implementation phase of
CSR. CSR has been linked to the concept of leadership from the viewpoint
that CSR is about responsible leadership. The relationship between
organisation leaders or CEOs with organisational CSR values are examined
by Waldman (2006) who posited that the CSR vision of leaders may impact
junior managers’ view of CSR in their decision-making process. The motive of
the leaders is still highly debated on the basis of whether responsible leaders
are driven by economic or moral motives (Waldman & Siegel, 2008). Figure
3.4 illustrates in depth the literature review that was undertaken to determine
the various key concepts of CSR over the years. It categorically identifies the
literature in terms of the dominant type of research used, and the focus in
developed and developing regions.
It cannot be understated that the notions of diverse biases mean this multi-
disciplinary concept is discussed differently under different circumstances. In
the context of this study, CSR is viewed as a social construct (Berger &
Luckmann, 1966), in which a better understanding of CSR has been
developed over the decades, as discussed earlier for academic and business
purposes (Carroll, 1999; Moir, 2001). However, the origins of this
understanding were and have been primarily in countries in developed
regions, such as in North America and Europe, as indicated in the systematic
literature review, leaving a dearth in the understanding of CSR within the
developing-country context.
For the purpose of this study, CSR is focused on organisational activities that
exceed minimum requirements such as economic and legal, at a given
moment in time (McGuire, 1963; Carroll, 1979). In addition, it embraces
“corporate citizenship” which includes the discretionary component of CSR,
otherwise known as philanthropy, culminating in the four components of CSR
– economic, legal, ethical and philanthropic – which captured the entire range
of business responsibilities depicted in the pyramid (see Figure 3.5). It is also
noted that these responsibilities already existed in previous definitions,
however, ethical and philanthropy had become increasingly significant in
recent years. In support of the pyramid, Carroll (1991) summed up, “The CSR
firm should strive to make profit, obey the law, be ethical, and be a corporate
citizen” (p.43). To date, a number of well used definitions have captured similar
notions of this concept of CSR.
For example, according to the World Business Council for Sustainable

Development (2000):
Corporate social responsibility is the continuing commitment by business

to behave ethically and contribute to economic development while
improving the quality of life of the workforce and their families as well as
the local community and society at large. (p.3)
This definition captures the dimensions of economic, social, stakeholder and

voluntariness of a business that deems to be socially responsible. According
to Geva (2008), the economic dimension refers to the socio-economic or
43
financial aspects in terms of business operations; the social dimension refers
to the relationship between business and society; the stakeholder dimension
refers to stakeholder groups; and the voluntariness dimension refers to the
actions not obliged by law.
Similarly, the Commission of the European Communities (2001) defined CSR

as:
A concept whereby companies integrate social and environmental

concerns in their business operations and in their interaction with their
stakeholders on a voluntary basis. (p.8)
This definition captures the dimensions of economic, stakeholder, social,

environmental and voluntariness. The additional environmental dimension
refers to the natural environment, which has not received as much attention in
literature reviews (Geva, 2008). One explanation that Carroll (1999) gave is
that the environmental dimension was not included in the earlier definitions,
and this might have influenced current definitions not to include it either.
Recent contributors to the literature of CSR include Irwin (2003), Clement-
Jones (2005), Jamali and Mirshak (2007), Puffer and McCarthy (2008), and
Babarinde (2009). The differences in the meaning of CSR still persist with
emphasis on the social role of organisations being put on corporate
citizenship, corporate philanthropy, corporate giving, corporate community
involvement, and corporate social investment (Babarinde, 2009). The
outcomes of some of these practices are identified as corporate image,
goodwill and branding (Irwin, 2003).
However, the most commonly described, used and dominant CSR model in
the developed countries is that of Carroll’s pyramid (Crane & Matten, 2004),
which is also the rationale for choice. What this model attempts to do is to
address the needs of practicing managers who have the responsibility of
implementing CSR and measuring its impact by proposing relative weightings
on the four functions identified as having an impact on an organisation’s
approach to CSR. The needs of managers led to the proposed mechanism of
using a need hierarchy model patterned after Maslow’s (1954) need hierarchy.
This organisational need hierarchy suggests that the economic, legal, ethical
44
and philanthropic functions need to be fulfilled by organisations in order of
priority.
3.4 The CSR Pyramid

This CSR pyramid by Carroll (1991) in Figure 3.5 has been cited by several
authors on CSR, used extensively as a platform for major research
developments in the field, and has been heavily cited in research work in the
2000s. Despite the wide range of CSR definitions over the last 50 years, this
four-part model (Figure 3.5) has been one of the most durable and widely cited
in the literature (Crane & Matten, 2004). Some of the reasons for this could be
that the model is relatively simple with an easy–to-understand logic; the model
has been empirically tested and largely supported by findings in North America
and Europe (Aupperle et al, 1985; Pinkston & Carroll 1994); and it gives most
importance to the economic component of CSR which may endear business
scholars and practitioners.
45
Figure 3.4: Systematic Literature Review
46
Taking a managerial approach, the model was designed to capture the range
of society’s expectations of businesses by categorising them. Therefore, the
pyramid has been useful to managers for seeing the different obligations that
society expects from businesses. It emerged as part of the on-going
deliberations on the meaning of CSR, which fundamentally captured the idea
that businesses have some responsibilities to society beyond making profits
for their shareholders. Therefore, the model captured the expectations that
society has of organisations, using the approach of a four-part construct which
include businesses’ fulfilment of economic, legal, ethical and discretionary or
philanthropic responsibilities. Although this model was created in 1979, Carroll
first presents the model as a pyramid in 1991 (see Figure 3.5) According to
the model, CSR constitutes four kinds of social responsibility: economic (to
make profit), legal (to obey the law), ethical (to be ethical) and philanthropic
(to be a good corporate citizen). The model categorises the different
responsibilities hierarchically in order of decreasing importance. The most
fundamental and highest priority responsibility is economic on which all the
other responsibilities are predicated. The expectation at this point is for the
organisation to operate a successful business. In addition, businesses have to
work within the framework of law, hence, the next layer in the pyramid. Legal
responsibilities require the organisation to recognise that law is society’s
codification of right and wrong, hence, to obey the law of the country is
essential. The third is ethical responsibility which is defined as those activities
the conduct of which is not codified by law and is expected by a society. Ethical
responsibilities address the obligations of the organisation to act ethically by
doing what is right, just and fair. The top and final layer is philanthropic
responsibility which is discretionary in nature. This responsibility requires the
organisation to be a good corporate citizen by contributing resources to the
community and improving quality of life. According to Geva (2008), prevailing
social norms and expectations provide the external criteria against which
corporate performances can be measured. Overall, the pyramid purports that
businesses that deem themselves socially responsible should simultaneously
fulfil this set of obligations, taking into consideration their decreasing
importance.
47
Figure 3.5 has been speculatively argued as not being directly relevant in the
African context. Visser (2008) suggests the following reasons: 1) The differing
emphasis of importance of the four layers of Carroll’s pyramid in the African
context; 2) The lack of comprehensive scope of coverage of the relationships
between businesses and society in Africa; and 3) The lack of evidence of how
Carroll’s pyramid is relevant in the African context.
According to Visser (2008), the order of layers which are taken as an indicator
of the relative importance given to the various responsibilities may not
necessarily be in the same order for Africa. This argument is supported by
Crane and Matten (2004) who conclude in their discussion on CSR in a
European context that, “all levels of CSR play a role in Europe, but they have
different significance, and furthermore are interlinked in a somewhat different
manner” (p.46). Secondly, with recent trends towards integrating the social,
economic and environmental aspects of CSR, the model does not address the
latter, which may be relevant in the African context. Thirdly, he argues that
Carroll’s pyramid might not be a useful and realistic model to use to explain
operations and sustainability in Africa. This is based on the notion that most of
the research on the pyramid has been in the American context, and several
studies suggest that other influencers such as culture could play a part in the
perception of CSR priorities (Burton et al, 2000; Edmondson et al, 1999;
Pinkston, et al, 1994). Additionally, the nature and representation of the
components may differ. However, Visser’s investigation on how CSR
manifests itself in an African context is not supported with empirical evidence.
Therefore, the claim of the complex dynamics that are at play in the African
context, provide scope for development and leave a gap for empirical
research.
As established earlier, the context of CSR research and empirical studies

conducted have mostly been in the context of developed countries such as the
USA, those in Western Europe, and Australia (Belal, 2001; Jamali & Mirshak,
2007), leaving questions around CSR in the developing-country context.
According to Luken (2006), studies of CSR in the context of developing
countries are scant. In recent times, CSR in developed countries has been
driven primarily by the concerns of investors, consumers, campaign groups
48
and companies. Thus, CSR is largely market-driven and responsive to the
concerns of affluent stakeholders. Nevertheless, it begs to question whether
this is any different in the context of developing economies. The extent of the
challenge for CSR in Africa is determined by the factors that influence the
interaction between businesses and society in a manner that needs to be
captured more appropriately. The reason for considering CSR practices from
a developing-country perspective is to explore whether the influencers of CSR
are similar or different considering the differing variables that operate within
this environment. Additionally, it is worth considering whether and how these
influences of CSR impact the relationship between the organisation’s social
responsibilities and its stakeholders, as discussed in Section 3.2.2. Therefore,
exploring CSR practices by domestic banks in Ghana provides evidence of the
nature of CSR represented and set in the context of a developing country.
Figure 3.5: CSR Pyramid (Carroll, 1991)
In sum, the simplicity of Carroll’s model does not allow for the potentially
complex and fluid nature of CSR in the developing region of Africa to be
captured, for example, there is the issue of complexities of differing cultures
and sub-cultures, or how to reconcile job creation and environmental issues
(Visser, 2008). There are also potentially wide variations in the functional
approach of CSR. For instance, Ofori and Hinson (2007) compared the
adoption of social responsibilities of multinational firms with those of
49
indigenous Ghanaian firms and found that the former are more strategic in
their approach to CSR. Hence, if the relative priorities of CSR in developing
countries are different from those of the developed countries, then an
appropriate CSR framework has to support these differences. Therefore, this
study provides a scope for research and development, contributing to
knowledge by investigating CSR practices within the context of African
businesses.
3.5 CSR in sub-Saharan Africa and Ghana

This study of CSR in a developing country is as a result of the scant research
of CSR in this context. The notion of CSR in developing countries became
clearly distinct by the onset of the Millennium Development Goals in 2000. This
was articulated clearly as “a world with less poverty, hunger and disease,
greater survival prospects for mothers and their infants, better educated
children, equal opportunities for women, and a healthier environment” (UN,
2006, p.3). However, prior to this period, research in the area of business and
society had been limited geographically and economically to developed
countries, and focused on the previously discussed core constructs.
Additionally, the argued speculation around the influencers and emphasis on

various responsibilities in the context of Africa lent itself to this research study
into CSR in the context of an African country – Ghana. In order to determine
in depth the role CSR plays in the relationship between businesses and society
in the context of Ghana, businesses had to be the focus of this study.
Therefore, the approach of using purposeful sampling of case studies within
the context of Ghana was critical to this study’s contribution to knowledge of
CSR.
The developing sub-Sahara African region

Historically, there has been an array of development literature that critically
debates the classification of countries as developed, less developed or
developing. In this study, the use of the term “developing” typically refers to
the collective description of a country that has a relatively lower per capita
income and is relatively less industrialised. The term describes the social and
economic development of a region or a country. Currently, the primary regions
50
in the world that are classified as developing fall in some parts of Asia, Latin
America and Africa .
Most conventional indicators that measure the socio-economic development

of these regions have identified that sub-Saharan Africa remains the least
developed region in the world. Several factors have contributed to this slow
development in comparison to other poor regions, including high population
growth exceeding the small rise in overall economic output.
Africa is a continent that consists of two distinct regions; the Arabic region in
the north, commonly referred to as the Middle East and North Africa (MENA),
and the majority of the continent, referred to as sub-Saharan Africa (SSA).The
development challenges in Africa are identified by the World Bank (2009a) and
include issues such as poverty with the largest increase in people living on
less than $1.25 per day; highest population growth in the world, low level of
literacy with only 60% of children completing primary education, and greater
regulatory and administrative burdens for businesses.
These socio-economic challenges combined with weak government

administration and service delivery have a significant impact on the drivers,
role and function of CSR for organisations operating in Africa (Visser &
Tolhurst, 2010). As a result, much of the CSR activity in Africa is focused in
key sectors such as healthcare and education due to weak public
administration (Visser et al, 2006; Zimmer & Reith, 2007; Hamann et al, 2008;
Imani Development, 2009).
Another important factor defining the context of CSR on the continent is the
diverse nature of its culture which is seen and applied in a communal context.
Despite generally negative press, the debate over Africa’s future is higher up
on the global agenda. Commission for Africa (2005) published a report Our
Common Interest, which calls for improved governance and capacity building,
the pursuit of peace and security, investment in people, economic growth and
poverty reduction, and increased fairer trade. From 2000 to 2008, foreign
direct investment into SSA increased more than seven-fold (World Bank,
2010). Additionally, in recent years there has been a strong growth in
economic terms despite a global slowdown. The region’s GDP growth was up
51
by 4.8% in 2012 (4.9% in 2011) (World Bank, 2013). Poverty rates also fell by
1% per year in the last decade (Africa’s Pulse: World Bank, 2013). These slight
improvements in the region can be attributed to improved macroeconomics
policies, political stability, opportunities created by new sectors such as the
Oil, Gas and Minerals sector and a robust growth in non-mineral and services
sectors.
Nevertheless, Africa remains a marginal region in global terms, with 12% of

the world’s population (around 750 million people) in 53 countries (African
Development Bank, 2003, 2004). Of the 81 poorest countries prioritised by the
International Development Association, almost half are in Africa (World Bank,
2005a), with the largest ten economies on the continent accounting for 75% of
its GDP (African Development Bank, 2004). The scale of social need that still
exists in most African countries draws clearer attention to some of the
challenges for CSR, of which Ghana is representative. Despite the influx of aid
and development efforts from the World Bank, the current pace of
development for SSA would not reach the Millennium Development Goals for
Poverty Reduction until 2147, child mortality until 2165; and there are rising
trends for HIV/AIDS and hunger (UNDP, 2004). Priority issues for the SSA
region include poverty reduction, health, skills development and education,
youth development and socio-economic development.
CSR in Ghana
According to Jamali (2007), there has been curiosity amongst academics
about understanding CSR in the light of vastly different economic, social and
cultural conditions. Previously, Jones (1999) highlighted the importance of the
national socio-cultural and economic environment as variables influencing
CSR practice and understanding, which justifies the context of this study from
the viewpoint of similar challenges faced in developing Ghana.
Therefore, it is not surprising that in 2005, the debate on Africa’s future took
centre-stage in the publication of Our Common Interest, the report of the
Commission for Africa (2005). This was followed up by yet another report, Still
Our Common Interest (2010), which was launched to review what had
happened in Africa in the previous five years, and called for efforts to convert
52
unprecedented economic opportunities into poverty reduction and
development. These socio-economic issues are similar across the region and
representative of the sub-Saharan region, and indeed Ghana. According to
Visser (2008), this transformation process requires the key role of businesses
to contribute to the framework of CSR. No doubt, the scale of social needs that
exists in the region presents a challenge for CSR in Ghana too, with life
expectancy in Ghana an average of 60 years (World Bank, 2010), Gross
National Income per capita at an average of $1,760 (World Data Bank, 2013)
and a literacy rate of 71.5% (CIA World Fact Book, 2010).
As a result, CSR in Ghana in the context of a developing country is different

from its typical manifestation in the developed world. According to Visser
(2004), CSR in African countries is less formalised in terms of the benchmarks
commonly used in developed countries for standardisation, reporting and
coding. This is evident in the context of Ghana, where there is no clear policy
or comprehensive documentation that provides a CSR framework or exact
parameters of CSR for Ghana. However, there are various policies, practices
and initiatives that are industry-specific and have some bearing on promoting
CSR, for example, Ghana’s National Land Policy (Atuguba & Dowuona-
Hammond, 2006). According to Atuguba and Dowuona-Hammond (2006), the
current responses of the government to Ghana’s CSR needs to include
encouraging partnerships, mandates, facilitations, endorsing practices and
enabling the environment, in order to be in a position to define minimum
standards for business performance in the country. The role of Ghana’s
government in CSR is primarily catalytic and supportive. Nonetheless,
industry-specific regulatory and professional bodies have established policies
with embedded CSR principles that aim to protect standards, consumers and
stakeholders but this has been challenging within a complex environment. For
example, the Consumer Association of Ghana (CAG) was formed to demand
high ethical standards from businesses; however, its effectiveness has been
plagued by inadequate capacity and financial constraints. Although there is a
dearth of leadership from the Ghanaian government in CSR implementation,
there is recognition for this need. Indeed, in a background paper for the Africa
53
Economic Summit 2002 in Durban, discussing the links between CSR and
New Partnership for African Development (NEPAD), the following was stated:
Good corporate citizenship will be absolutely central to the success of

NEPAD and its goals of encouraging economic growth and reducing
poverty. African governments must play the key leadership role in
setting the appropriate framework in order that the private sector itself
can contribute to these goals. (Corporate Citizenship and NEPAD:
World Economic Forum, p.1)
There is relatively weak expectation and leadership from government, thus,

the practice of CSR is mainly at the discretion and responsibility of individual
businesses, especially from the viewpoint of creating a favourable
environment for business operations.
Therefore, in the context of CSR practice in Ghana, large corporations, MNCs,

and indigenous or domestic businesses play an important role in the Ghanaian
economy by contributing to the economic and social welfare, improvement of
living standards and basic needs, as well as the creation of employment
opportunities. With a diverse corporate environment, CSR concerns in Ghana,
according to Atuguba and Dowuona-Hammond (2006), include rising
unemployment; dwindling apprenticeship and training opportunities; better
working conditions such as employee protection and better wages; and
discrimination in the workplace. These concerns, along with Africa’s collective
approach to problem-solving and reinforced by people who inherently have a
strong community mentality (Phillips, 2006) have contributed to businesses’
responses to social issues. It is argued that being socially responsible has
been a way of life in Africa long before the concept of a more formalised
approach to CSR issues was brought in from the developed countries (Phillips,
2006). Therefore, the response of domestic or indigenous businesses to social
values is likely to be that those things that are important to Ghanaians. It is
about questioning what the stakeholder cares about and what makes them
grateful and therefore recognises the value of the social actions or initiatives
taken by an organisation. Additionally, Ghanaian managers’ attitude towards
54
CSR is largely influenced by individual and societal ethical values (Ofori,
2005).
Thus, the nature of CSR is commonly characterised by philanthropy or charity

(Chapple & Moon, 2005; Ofori, 2007a; Ofori & Hinson, 2007); in the area of
education, health, sports, development, the environment and community
services; social services through the investment in infrastructure, schools,
hospitals and housing; traditional communitarian values and religious
concepts (Visser, 2004); and social issues generally are given more political,
economic and media emphasis (Schmidheiny, 2006).
International influencers of CSR in this context are considered as not

significant. This is because of the fact that the banks are domestic, although it
is worth noting that this situation might change with the fast-growing sector
potentially looking across the borders for business operations. For example, it
is likely that drivers such as international standardisation and supply chain, as
identified by Visser (2008), will be relevant in the medium term as these banks
look to access markets across the region and/or have multinationals on their
supply chains.
The afore-mentioned influencers of CSR mentioned create a range of

opportunities for businesses in Ghana to mitigate negative impacts with CSR
and also enhance potentially positive benefits. In recent times, a lot of
importance has been focused on the value of sustainable local enterprise and
the role of business in poverty reduction. Some challenges of implementing
CSR include the ability to select a suitable social issue. This choice is primarily
dependent on a balance between the organization’s priorities and society’s
expectations, and determining the key influencers to making this choice. Thus,
the context of this study is to explore the issues around what the CSR priorities
of Ghanaian banks are and how these priorities match the expectations of
Ghanaian society.
3.6 Conceptual Framework

The notion that organisations have a responsibility to various stakeholders
continues to uphold the debate between those who see CSR as a distraction
to business from meeting their economic goals (supporters of Friedman, 1962,
55
and Clement-Jones, 2005), and those who view it as providing access and
legitimacy to organisations within a society. Thus, the latter addresses the
stakeholder perspective which acknowledges integration between business
and society, rather than separate entities (Wood, 1991). Supporters of the
stakeholder view argue that businesses are active partners in a world of
increasing scarcity and dwindling resources (Kuado & Hinson, 2005) within an
environment with potential complexities in the context of a developing
economy such as Ghana.
In Figure 3.6, the conceptual framework therefore captures the emerging

dynamics of business and society linkage (Idemudia, 2008), with specific
reference to societal needs and expectations, and business environment and
opportunities. The conceptual framework illustrates the gap of what the main
influencers are in affecting the businesses’ CSR responsibilities, as well as
how important these responsibilities are within a developing economy. The
research study intends to offer an expanded contribution to the divergent and
convergent perspectives in the current CSR debate on developing countries.
Figure 3.6: Conceptual Framework
56
3.7 Research Gap
The discussion on the dynamics and relationships between business and
society and how this affects CSR practice in banks within a developing country
context, leads the researcher to question whether the current conception and
models of CSR in developed countries are adequate for describing CSR in
developing countries. Thus, the nature of CSR within the context of a
developing African country is explored. Additionally, the most popular and
dominant model – Carroll’s (1991) CSR pyramid – which is almost entirely
based on research in the Western context is explored for its adequacy,
usefulness and representativeness within the Ghanaian context. Although
there was scant empirical evidence to support his argument, Visser (2006)
contested that the relative emphases on various responsibilities in developing
countries differ from that of Carroll’s classic pyramid due to the complex nature
of the developing economies. In addition, Wood’s (1991) suggestion for a more
relevant framework being based on specific businesses or industries focused
on a particular economy provides an evident gap in knowledge for this
research which leads to the primary research question:
The key issues that surface from the primary question shapes the main
objectives of the study as follows:
• How is CSR understood and practised in rapidly developing sub-

Saharan African economies?
Existing research presents a gap in CSR practice in a developing-country

context which provides an opportunity to contribute to knowledge in CSR by
interpreting CSR within the given context – domestic banks in Ghana.
Therefore, the main objectives that this study focuses on are as follows:

Ghana.

in Ghana.

57
Thus, using multiple case study approach within the context of the banking
sector in Ghana provides the foundation for in-depth research to contribute to
knowledge in CSR in Africa.
3.8 Conclusion
As a result, the context of this research study sets out to explore and examine
the nature of CSR practice of domestic banks in the context of a developing
country of Ghana. The existing gap in the research is presented from the
perspective of a developing country, the financial sector and domestic banks.
By understanding the current gap in CSR literature, and establishing the
current debate on the dynamics between business and society in a developing
economy, there is an opportunity to contribute to knowledge by investigating
CSR in the said context.
58
4 Research Methodology
4.1 Introduction
This chapter addresses the philosophical approach and illustrates the
methodology used to investigate CSR in Ghana within the context of a case
study approach, using domestic banks. The research gap arises from the
notion that CSR in Africa is one of the less well-understood phenomena. This
study therefore contributes to knowledge in CSR by using case studies in
Ghana as the context within which CSR is examined in depth.
It fully details the overall research strategy and design, as well as justifying the
research method chosen which includes the methods of data collection and
analysis. Additionally, it discusses the ethical considerations taken, and
articulates the researcher’s journey through this study, reflecting on personal
learning experiences.
The researcher engaged in investigating the nature of CSR and the priority
responsibilities of CSR practice in Ghanaian banks. The research question of
“What role does CSR play in the domestic retail banks of Ghana?” was
informed by the understanding that Carroll’s CSR pyramid is one of the most
dominant model in the field of CSR which determines the key responsibilities
of CSR practice by managers in developed regions such as North America
and Europe. The current study’s conceptual framework recognises the socio-
economic complexities of developing regions such as SSA which questions
the adaptation of this dominant model in the context of a representative
country such as Ghana. Thus, the research investigates and interprets the
phenomenon of CSR practice and responsibilities in Ghanaian banks and the
feasibility of Carroll’s pyramid in the context of the banking sector in Ghana;
the “units of investigation” being domestic retail banks with significant
shareholding from either Ghanaian individuals or businesses.
59
The objectives of this chapter are:
i. To establish the philosophical assumptions underpinning the research
ii. To establish the research objectives
iii. To present the research strategy adopted for this study, a multiple
case study approach
iv. To discuss the methods of data collection and analysis
v. To discuss the procedures taken in data management to ensure
robustness and rigour in the data analysis.
4.2 Research Design

In designing this research study, essential elements – epistemology,
theoretical perspectives, methodology and methods – were considered as
indicated by Crotty (1998). According to Crotty, epistemology is inherent in the
theoretical perspective and therefore the methodology that has been chosen.
Similarly, Creswell (2003, p.4) refers to epistemology as the “theory of
knowledge that is embedded in the theoretical perspective”. In the context of
this study, the theoretical perspective chosen is constructivism which
represents the philosophical stance of the interpretivist paradigm underpinning
the chosen methodology, which in turn framed the research question. The
methodology or research strategy shaped the plan of action (Crotty, 1998),
which uses a multiple case study approach to provide the researchers’ choice
of qualitative methods to deliver the desired outcomes. The specific qualitative
methods that were used in the research process were interviews and content
analysis of archival data. Figure 4.1 below presents the research design.
60
Figure 4.1: Research Design
Philosophical Assumptions
As presented by Bateson (1972, p.314), the researcher is “bound within a net
of epistemological and ontological premises which – regardless of ultimate
truth or falsity – become partially self-validating”. Thus, the initial aim of the
research design relate how the research was shaped and why it was shaped
by social constructivism which may also be referred to as the interpretive
paradigm (Denzin & Lincoln, 2011; Mertens, 2010), employed. Mertens (2003,
p.139) indicates that “a paradigm is a conceptual model of a person’s
worldview, complete with assumptions that are associated with that view”. The
interpretive approach assumes that as people interact with the world around
them they create and associate subjective meanings to them. Thus, the
researcher attempts to understand the phenomenon in question through
interpretation by accessing the meanings participants assign to the said
phenomenon (Orlikowski & Baroudi 1991). The use of case study allowed an
in-depth investigation and interaction with participants within the organisations
who had a view on the concept of CSR based on their professional
experiences. Thus, the philosophical underpinning of the study was based on
how the researcher sees the world in context and acts in it, and the chosen
61
interpretive paradigm holds beliefs that guided the researcher’s actions and
the whole process (Guba, 1990a, p.17). This was further buttressed by the
assumptions adapted from Creswell (2003) that the researcher was seeking
an understanding of the phenomenon of CSR practice in the world in which
manager’s work. The process by which this was done was through qualitative
research for which, according to the constructivist perspective, the researcher
obtained information for study mainly from the participants’ views and
documentary evidence regarding the research issues.
The rationale for social constructivism stems from the study of the
phenomenon in its natural environment, and the viewpoint that the
researcher’s knowledge of reality comes from the domain of human actors and
actions. This is essential to the use of case study approach which signifies the
context within which the study has been framed and the phenomenon fully
understood. Constructivist epistemology also assumes that the claim of
knowledge arises from interaction with a human community, and is influenced
by the historical and social perspective or culture (Crotty, 1998) that operates
in the world in question. The development and construction of meanings were
thus done by engaging with the world being interpreted (Mertens, 1998),
hence, the development of varied and complex meanings of the experiences
of individuals, objects and/or things of the phenomenon. Thus, the information
obtained was mostly through interaction and discussions with managers within
the context of their roles in the banks and the questions were rather general
and open-ended to allow participants to freely construct their opinions,
providing the researcher with a better understanding of the phenomenon. The
interpretivist assumption acknowledged that the researcher’s background also
partly played a role in shaping and influencing some of the interpretations from
the researcher’s own personal, cultural and historical experiences (Creswell,
2013). Therefore, the reality discovered by the researcher is not entirely
objective, and neither can it be replicated by others (Walsham, 1993). The
interpretive approach to exploring the relationship between theory and practice
within the given context is that the researcher cannot assume a neutral stance.
The role of interpretation in this process lent itself to a qualitative study which
particularly placed a demand on the researcher in terms of what questions
62
were asked and the interpretations brought to them based on the researchers’
engagement.
Although this study relied primarily on data which captured the experiences
and views of individual managers involved in the phenomenon, it also
concurrently examined evidence from secondary data. Thus, constructing
meanings and interpretations from individuals’ perspectives and experiences
was significantly supported by textual and content analysis of documentation
which added to the rigour in analysis. This consideration concerns the “nature
of reality” (Teddlie & Tashakkori, 2009, p.4), also referred to as the ontological
perspective of constructivism where the world is internally constructed by
humans creating meanings individually and collectively in the world from
people’s experiences. Due to the nature of what is considered as real, the
research was done subjectively as it was from the perspective of what people
said about their experiences, and the researchers’ interpretations of these
words. Therefore the researcher did not have the liberty of taking a stance on
the interpretation. Interpretivism allowed the researcher to inductively
generate and develop emergent ideas and patterns of meanings from the data
(Maylor & Blackmon, 2005). In practice, however, this approach did not
eliminate initial and recurrent actions of deduction as it was a cyclical process.
The researcher acknowledged the tensions between inductive and deductive
approaches which perhaps could be described as a hybrid between the two
approaches of inductive and deductive research to investigating and
interpreting the research. The purpose of this knowledge construction did not
have any action agenda for reform or change that affects the lives of
participants, the organisations in which they work, or even the researcher’s life
(Mertens, 2003) – described by Creswell (2013) as a transformative
framework. The researcher did not seek to achieve this but rather the objective
was to capture and present a normative framework.
63
Research Objectives
The gap identified in the literature review led to the following research
objectives:

Ghana.

in Ghana.

Research Strategy
The research process involved the strategy of inquiry being used which is a
multiple case study approach comprising three cases. Figure 4.1 shows the
research design which presents a clear focus on the research question, the
purpose of the study, “what information most appropriately will answer specific
research questions, and which strategies are most effective for obtaining it”
(LeCompte & Preissle, 1993, p.30).
The case study approach has historically been used by social scientists, and
its origins are traced back to anthropology and sociology (Hamel et al, 1993).
It has particularly been popular in disciplines such as psychology (Freudian),
medicine (case analysis of a problem), law (case law) and political science
(case reports). However, more recently, it has been equally applicable in the
areas of marketing communications, management and organisation studies.
The case study approach is presented as a strategy of inquiry, a methodology
or a comprehensive research strategy (Denzin & Lincoln, 2005; Merriam,
1998; Yin, 2009). According to Yin (2009), case study research involves the
study of a case within a real-life, contemporary context or setting. On the other
hand, Stake (2005) states that case study research is a choice of what is to be
studied and not a methodology, that is, a case within a bounded system, bound
by time, place and activity. In the context of this study, the researcher chose
Yin’s (2009) view of case study approach as a methodology, that is, a type of
design in qualitative research that may be an object of study, as well as a
product of the inquiry. Therefore, the study was of multiple cases, referred to
64
as units of investigation, within the context of practising CSR in the banking
sector of Ghana. According to Bell (1993), the case study approach is an
umbrella term for a family of research methods having in common the decision
to focus on an inquiry around a specific instance or event. Therefore, this
choice of strategy allowed for multiple sources of detailed evidence or data to
be used. Case studies are also different from other approaches because of
their specific, in-depth focus on a phenomenon in its naturalistic setting as an
object of interest in its own right (Daymon & Holloway, 2011). For example,
Yin (2009) uses both quantitative and qualitative methods in case study
development and discusses explanatory, exploratory and descriptive
qualitative case studies. In addition, Stake (1995) presents a step-by-step
approach to multiple case study analysis to provide rich illustrations. Thus, the
use of case studies and multiple data sets – documentation and interviews –
in investigating the phenomenon of CSR enabled the researcher to have an
in-depth understanding of CSR practices within each unit and differences and
similarities, as well as anomalies between the cases. This occurred through
discussions which explored the data whilst enfolding the literature to either
support or dispute the discussions. Secondly, a quantitative method in the form
of frequency counts was used in the textual analysis to support the primary
data analysis. The systematic literature review, revealed evidence that the
research methods used to explore CSR in developing countries were
predominantly single or multiple case study research strategy with mixed
research methods combining both qualitative and quantitative methods as
evidenced in Appendix E. Those studies that went for one type of research
method were mostly qualitative semi-structured interviews for organisation-
oriented studies or quantitative surveys for stakeholder-oriented research. In
this regard, the choice of research strategy and method were consistent to
existing peer reviewed studies. The focus of this approach supports the
argument of the contextual nature of the study of CSR, and the requirement
for rich insights into specific cases bound by specific contexts.
Thus, the researcher relied on adapting Stake (1995) and Yin (2009) to form
the distinctive features of this multiple case study approach. This included the
identification of the specific cases or units of investigation and the intent of
65
conducting the cases; a cyclical process of deductive and inductive analysis
of qualitative data sets; the use of emergent themes or issues, and recognising
relationships in each case and across the cases; and forming conclusions at
the end using “assertions” (Stake, 1995) or building “patterns” or
“explanations” (Yin, 2009). Ultimately, the inquiry considered each case as a
whole entity before analysing with the other cases (Ragin, 1987; Huberman &
Miles, 1984; Eisenhardt, 1989; Corley & Gioia 2004; Gioia et al, 2010). This
process was good at finding specific and grounded patterns common or not to
the cases. The use of comparative analysis also attempted to answer the
questions of “what” and “how” as well as serve to decipher the similarities or
differences with the other cases (Neuman, 2000).
Research Ethics
The researcher initially had informal conversations with the three selected
banks, two of which sent an email to give their consent to engage (see
Appendix C). The third was by verbal consent only. Confidentiality and
anonymity was observed by having a standard ethics consent which is a
written agreement upfront on what the working relationship and expectations
would be (see Appendix D). The researcher therefore provided a letter
stipulating these to each of the managers prior to the interviews. The banks
agreed on being privy to the outcomes of the research, which might be of
interest to them.
Participants were not placed under any form of duress by ensuring that
meeting times were properly planned and mutually convenient times
scheduled for both parties. In the study, personal data such as full names of
managers were withheld save for their job titles which were relevant to the
research.
The nature of the research did not involve sensitive topics or vulnerable
people, hence, not requiring the researcher to make special considerations.
However, the researcher was aware that some bank documentation may have
to be kept private, although during the collection of data this particular issue
did not arise.
66
4.3 Multiple Case Study Approach
The multiple case study design enabled the researcher to explore the
phenomenon of CSR practice in different cases. The case study design in this
research is adapted from Yin’s matrix (2009), being a Type 3 multiple-case
study, using multiple units of analysis (in this study, is sometimes referred to
as units of investigation). However, in the qualitative context of this research,
the units of analysis, which has a positivist connotation, are referred to as units
of investigation. According to Bhadwarj (2010), a unit of investigation may be
a person, a family, an institution or a physical object or a phenomenon or any
other thing that forms a basis for collecting data. Therefore, the definition of a
unit of investigation in this study is the case of a Ghanaian domestic retail
bank. Each unit of investigation represents a real-life, contemporary setting in
the banking sector of Ghana practising CSR during the period between 2008
and 2013. The primary advantage for choosing this design is the ability for it
to provide a basis for the application of careful logical comparisons across
three cases.
CSR practice in each bank was explored through detailed, in-depth data
collection from multiple sources of qualitative methods (Hartley, 2004; Yin,
2009). The distinct advantage of this multiple case study was that the varied
evidence from multiple cases is often considered convincing and robust
(Herriott & Firestone, 1983). On the other hand, the more cases studied, the
greater the lack of depth in any single case and the more the overall analysis
is diluted and generalised (Creswell, 2007). There is variation in the literature
on the number of cases that is acceptable for this approach, leaving the
researcher with some flexibility of choice on number of cases. Whereas Yin
(2009) stipulates up to thirty cases, and Stake (1995) states that one or more
cases will suffice, according to Eisenhardt (1989), there is no ideal number of
cases to use for a multiple case study. Indeed, there are various arguments
about the number of cases appropriate in the research design. As argued by
Farquhar (2012), more is not necessarily better in determining the number of
cases. Thus, the researcher chose to study three cases, which is an
acceptable number based on the variation in literature, and supported by
Maylor and Blackamon (2005) who advise a study between two and eight
67
cases. The choice of cases in this multiple case study was particularly well-
suited to theory investigation; hence, choice was less based on numbers but
rather based on those cases that are suitable for persuasion (Sigglekow,
2007). Suitability of cases was based on those that can or cannot confirm a
theory, and offer a challenge to an established theory (Piekkari et al, 2009).
The theory is based on the conceptual framework that I have built in Chapter
3, which goes beyond the CSR pyramid.
The use of multiple cases enabled the investigation of the phenomenon of

CSR practice in retail banks in Ghana using multiple sources of data including
various types of documentation and semi-structured interviews. Additional
overarching criteria for selecting this approach include the researcher’s
experience and audiences for this study.
The cases chosen are distinguished in terms of their location, size, and the
intent of the case analysis. As shown in Table 4.1, three cases were chosen:
UT Bank, Fidelity Bank, Access Bank. These cases were purposefully selected
to show varying perspectives on the issue of CSR practice, and an opportunity
for the researcher to replicate the procedures for each case. The Case Study
Protocol in Figure 4.2 interprets the process that was taken in the data
collection and analysis.
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Figure 4.2: Multiple Case Design Protocol – Integrative Approach
Source: Adapted from Eisenhardt (1989) and Stake (1995)
Selection of cases
The selection of the three cases was informed by the case study methodology
literature which argues that case selection in multiple case designs is
dependent on the conceptual framework that specifies the conditions under
which the phenomenon of interest is likely to be found (Eisenhardt, 1989).
Thus, the cases selected were appropriate and suitable for illuminating and
extending relationships and logic among constructs (Eisenhardt, 1989).
Additionally, selection of appropriate cases helped control extreme variations
as well as define limits for generalising the findings. In other words, the
researcher did not necessarily want a sample of domestic retail banks with
varying social contexts, so that in-depth insights could be gained within-case
analysis and across-case analysis (Eisenhardt, 1989), thus, analytical
conclusions could be drawn about CSR.
The process of selection was purposeful sampling (Patton, 2003). The cases
were particularly suitable for providing insight and exploring the relationships
of the constructs (Eisenhardt & Graebner, 2007), as they illustrated CSR
69
practice and their priority responsibilities which formed the theoretical feature
the researcher was concerned with. Sampling for qualitative research involves
small numbers, embedded in the notion of being in depth and within context
(Miles & Huberman, 1994). The process of selection is illustrated in as
illustrated in Figure 4.3. Thus, the rationale which drove purposeful sampling
of three cases or units of investigation in this research was to fulfil the research
objective of the study (Patton, 2003) and generate particular insight into the
research question. According to Flvbjerg (2006), the choice of cases can be
identified by looking at those that are either “most likely” or “least likely” to
clearly confirm, refute or challenge the phenomenon. This information-oriented
selection of cases (Farquhar, 2012) are referred to as critical cases (Flyvbjerg,
2006), which aided the researcher in obtaining information. These critical
cases of domestic banks in Ghana were identified as multiple empirical
settings to provide adequate and relevant information on their CSR practices.
Therefore, the researcher adapted analysis that could likely extend the
emergent theory, making the process of interest transparently observable
(Pettigrew, 1988).This process is also similar to Siggelkow’s (2007)
perspective which argues that cases are valuable for demonstrating the
importance of particular research questions, for inspiring new ideas and for
illustrating abstract concepts. As adapted from Yin (2009), the selection of
these cases was done under the assumption that they are able to act as
investigative sites to help sharpen, challenge and/or extend Carroll’s CSR
pyramid.
Figure 4.3: Case Study Selection
70
Table 4.1 captured the boundaries and characteristics of the banks in terms of
their size and location, and characteristics which illustrate their similarities and
differences.
Table 4.1: Characteristics of the Banks

UT Bank Access Bank Fidelity Bank
Industry sector Banking Banking Banking
Type (current) Universal Universal Universal
Market entry 2006 2009 2006
Year of Universal 2010 2009 2009
License
Ownership Sole ownership, Joint ownership, Joint ownership,
Ghanaian Ghanaian and Ghanaian and
foreign (Nigeria) foreign (Singapore)
Size (employees) 700 500 900
Annual Profits after 9.9 million 8.5 million 3 million
tax 2010 (Ghanaian
cedi GHS1~USD1)
Domestic locations Ashanti Ashanti Ashanti
(Regions) Greater Accra Greater Accra Greater Accra
Western Western Western
Central Northern Volta
Eastern Central Northern
Brong-Ahafo Eastern
Volta Brong-Ahafo
Foreign locations Nigeria Côte d'Ivoire Nigeria
(Countries) Germany DR Congo Singapore
Nigeria
Rwanda
Zambia
Sierra Leone
UK
Number of 27 37 31
domestic branches
Source: Company annual reports (December 2011) and case interviews (December
2012 and April 2013)
UT Bank
The initial focus of UT in 1997 was centred on servicing the “unbanked”
informal sector, but UT’s services have evolved and extended to cover the
formal sector since 2006. The company became a universal bank in 2010 and
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was listed on the Ghana Stock Exchange. UT claims to maintain an open
flexible policy that allows it to accommodate the financial needs of its
customers without prejudice. Products include various short-term loans,
working capital financing, business advisory services and trade financing to
SME’s (www.utbankghana.com).
Fidelity Bank
In 2009, Fidelity Bank became the twenty-second bank to be licensed as a
universal bank by the Bank of Ghana under the new Banking Act 2004 (Act
673) after operating as a discount house profitably for eight years. The bank
is owned by Ghanaian and foreign private investors, institutional investors
including Africa Development Bank, Social Security and National Insurance
Trust and its executives. Fidelity Bank has two corporate affiliates – Fidelity
Capital Partners Limited and Fidelity Asset Management Limited. Fidelity
Banks’ mission is to be among the top three banks in Ghana by 2013 based
on all key performance indicators and anchored on the company’s three key
pillars – their people, their service and processes, and return to stakeholders
(www.fidelitybank.com.gh).
Access Bank
Access Bank originated from Nigeria with presence in nine African countries
and the United Kingdom. Access Bank ranks amongst the top 20 banks in
Africa and the top 10 in West Africa by capital. The company started its
operations in Ghana in 2010 as a universal bank, with core values including
excellence, ethics, trust, teamwork, passion for customers and continuous
learning. Access has a clear CSR charter on the corporate website. The bank
claims to have a well-designed and integrated CSR strategy having the best
interests of their stakeholders at hand (www.accessbankplc.com).
4.4 Data Collection and Sources

In this section, the details of data collection are presented. The data was
generated from different types of sources and used to support one another in
the analysis.
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Secondary data: Archival records
The researcher gathered two hundred and ninety-two pages of secondary data
made up of archival material about each case (see Appendix A). The types of
documents collected for each case are summarised in Table 4.2. The archival
records listed were those that were identified by the researcher as relevant
because they presented an element of CSR, and those that were made
available by the banks, which fall into the category of possible sources for case
study research (Marshall & Rossman, 1989).
Table 4.2: Types of Documents Collected for Each Case

Bank Data Type
UT Bank Annual reports (2010-2012)
Internal newsletters (2011-2012)
Press cuttings (2008-2013)
Corporate website
Fidelity Bank Annual reports (2009-2011)
Corporate website
Access Bank Annual reports ( 2008-2012)
Corporate website
Archival records included press articles, annual reports, letters from

stakeholders and internal newsletters. Although the informants provided all the
material, some of it was available publicly, for example, annual reports, on the
company websites. The material provided background about events and
activities conducted by the banks under CSR, and served as a primary
resource for learning about the dynamics of CSR practices in the banks, and
as a basis for developing the interview guide. These archival records served
as a guiding basis for constructing historical behaviours about CSR practices
since the banks were established. The documentation had a broad coverage
of CSR events under different settings over a period of time (up to three years),
many of which were very specific in terms of exact names and details of
events. Additionally, they had the advantage of being viewed repeatedly.
Table 4.3 presents an overview of all the amount of data collected for both
secondary and primary research stages of the research.
73
Primary data: Interviews
The researcher interviewed the key informants identified in each bank. The
key informants chosen were senior and middle managers as the research
seeks to understand the management approach to CSR. They were identified
by contacting individuals who had strategic oversight and expertise roles
related to CSR. According to Ofori and Hinson (2007), an early study in Ghana
showed that directors of marketing, finance and human resources, as well as
the managing directors and their deputies of businesses in Ghana were better
informed about CSR practices in their organisations. In each case, the contact
information was provided by a colleague or personal introductions were made
mainly through the researcher’s alumnae contacts. For example, in one case,
the researcher was introduced to the relevant managers by the Director of
Finance; in another case, the researcher was introduced to the relevant
managers by the Corporate Counsel; and in the other case, the researcher
was provided contact details of the relevant managers by a personal friend
who did not work in the bank. The selection of interviewees was based on the
concept of management research which generally involves smaller groups of
informants who are selected on the basis of them having expert and particular
insight into the research question (Farquhar, 2012; Lahdesmaki & Siltaoja,
2010), hence in line with purposeful sampling.
74
Table 4.3: Overview of Data Collection: Interview and archival data
Bank Number of Title of Focal Informants Number of Types of

interviews Documents Documents
UT 3 Manager, Public Relations & 24 Newspaper
Media cuttings, annual
Corporate Communications reports, internal
Officer newsletters
Brand Manager
Access 2 Director, Corporate 10 Newspaper
Communications cuttings, annual
Brand Manager reports,
company
letters, training
workshop
programme
Fidelity 4 Deputy Managing Director 8 Newspaper
Director, CSR & Financial cuttings, annual
Inclusion reports,
Head of Marketing proposal letters
Brand Manager
Thus, the selection criterion used for key informants for each case was based
essentially on their job roles, as the primary question relates directly to
management practice and to provide an opportunity for managers to put
forward their views of the world on CSR practice in their organisation.
Therefore, senior managers who have direct responsibilities and oversight of
strategic decision-making and CSR practice in their companies were identified
as informants. They were chosen across two to three top management tiers,
meaning up to three participants were selected for each case according to
their roles as CEO/Director, Head of Corporate Affairs/Corporate
Communications, Brand Manager/Public Relations & Media Manager. It is
important to note that although the job roles are similar in terms of the
responsibilities of individuals, the job titles differed from case to case. The
choice of more than one manager per bank was to ensure that the debate was
fair and no relevant voice was excluded (Caputo, 1987).
During initial introductions and conversations, the researcher gathered

preliminary data about the banks’ origins and past CSR practices to assess
whether these cases met the selection criteria. It was established at this point
75
that although each case seemed to be at different stages, they were all
involved in some CSR practice or other, hence, they did meet the criteria.
The interviews were semi-structured, designed with an interview guide

developed from the conceptual framework which comprised a series of open-
ended questions (see Appendix B).The researcher used relevant follow-up
questions to draw out situation-specific details and to build a deeper
understanding of the nature of CSR practices and the interviewees’ roles in it.
The researcher conducted a total of nine interviews which were audio
recorded, the length varying between 45 minutes and nearly two hours.
The Interview Guide

The semi-structured interview was used an additional and follow-up method to
the secondary data analysis. According to Kitchen & Tate (2000), semi-
structured interviews are one of the most commonly used qualitative methods
and are versatile for collecting a wide variety of data.
According to Dillon (1990), the form of an interview – the questioning by one

person, answering by another – can be used for a variety of purposes. In the
context of this study, it is research interviewing via a face-to-face interaction
between the researcher and interviewee, regarding getting a better
understanding of reality and the experiences of the informants in their world.
It is a structured way in which the researcher used to obtain information on the
focused content of CSR in each case.
The researcher set out to develop an interview guide as a tool to conduct the
semi-structured interview. An interview guide was preferable to an interview
questionnaire as it allowed the researcher to be guided by the participant’s
narrative and at the same time have structured content for each of the
interviews. This method is also appropriate for eliciting individual opinions,
feeling and opinions with in depth responses that capture both contradictions
and nuances of CSR.
As mentioned earlier, the researcher went through a process of deductive-

inductive approach. The researcher started with a body of prior CSR theory
which informed a set of facts to be collected or generated. Hence, the
76
contextual nature of CSR meant that the nature of CSR in the context of this
study had to be understood. Therefore, identifying types of CSR practices was
key in the initial secondary data collection and analysis. This initial analysis
contributed to informing the development of interview guide.
The deductive aspect of the data collection which ensured depth and richness
of data meant giving some control to the participant, hence applying the
flexibility that an interview guide provides. Thus, the purpose of the interview
guide was to improve knowledge on CSR practice in each of the cases by
allowing a conversation to take place in a controlled manner. Hence, it was
planned and structured in deliberate half-scripted interview (semi-structured)
which focused on specific areas. This allowed the interview to be co-produced
by the researcher and the participant.
Throughout the whole process, it was important for the researcher to

acknowledge the tension between deduction and induction, which is similar to
Bateson’s (1972) argument for a combination of loose and tight thinking.
4.4.3.1 Designing the Interview Guide

The interview guide was preceded by a title page which provided the terms
and conditions of the interview and allowed the interviewee to read carefully
and an opportunity to agree or disagree to take part in the process.
The designing of the interview guide was informed by both literature and the
initial analysis done on the secondary data. The researcher had to be clear
about what resource and information was available and what further
information was required. This process was adapted from Miles and
Huberman (1994) and Patton (1990). The empirical indicative material being
sought was derived from revisiting the research purpose and objectives posed
within the conceptual framework, in order to formulate the relevant questions,
and ensuring dovetailing of questions to answers (Kuhn, 1991). In other words,
the researcher had to establish what sort of questions to ask, how to ask them
and the order in which to ask them. The sequencing of questions is illustrated
in Figure 4.4 as adapted from Wengraf (2001) where interview questions (IQ)
were a breakdown of the theoretical question (TQ) which were derived from
77
the central research question (CRQ) emerging from the research objective
(RO).
Figure 4.4: Designing and sequencing of interview questions
The research and planning of the interview guide presented an opportunity

during the interview to ask improvised questions that were prompted by the
interviewee’s responses to the initially prepared questions. The order of
questions progressed from more general to particular questions. For example,
the initial questions covered company and manager profile, which then
progressed to more specific questions around the CSR agenda of the
company (see Appendix B).
Open-ended questions using words like ‘what’ and ‘how’ and were used to
offer the interviewee an opportunity for a variety of responses in their own
words and style:
What types of CSR activities is your company involved with?
Researcher kept questions brief, simple and clear and avoided jargons,
abbreviations or acronyms.
The responses for such a question produced differing, deep insightful

answers, as supported by Bell (1987). Additionally, these questions were
carefully constructed to avoid leading the interviewee by assuming a particular
78
stance. At the same time, ‘rambling’ was encouraged (Brewer, 2004: p320),
allowing the interviewee in certain cases to go off on a tangent in order to gain
a better insight or present the wider context of a relevant point being
discussed. The researcher in some cases used probes to encourage
participants to elaborate on their answers and provide further explanation to
confirm understanding.
The challenge in the improvisation of prompting questions was not only the
discipline required by the researcher to keep the responses relevant to the
subject, but also to be creative around how these questions provide in depth
information to create more knowledge and provide a better sense of
understanding.
The nature of this research presented large amounts of transcribed data which
took a large amount of time to complete, including reading, coding and
analysing.
Time
The selection of cases and conditions of engagement were confirmed in
February 2011. The research process of collating documentary data
commenced in May 2011 and ended in June 2011. This was followed by the
semi-structured interviews of management which took place between
December 2012 and April 2013. The researchers had to make three trips to
Ghana in order to complete this process – the first trip to collect the
documentary data, and the second and third were to conduct the interviews.
4.5 Managing of secondary and primary data
The archival data

The analysis of the secondary data was primarily inductive but initially
deductive in terms of starting off with some key words which led to recognising
and identifying some of the patterns to create first-order codes. This was done
by identifying phrases or statements that referred to similar events, activities
or descriptions related to the phenomenon as shown in Table 4.3. For
example, statements or phrases that represented a particular objective were
coded such as “giving money or “raising funds”. The researcher repeatedly
79
went back and forth through the data types for each case looking for similar
and new patterns until the process was exhausted and no more new patterns
could be identified. The relevant phrases and statements were methodically
recorded, referenced and coded, case-by-case in order to permit credibility to
the quality of the study (Patton, 2010). The coded references were later used
along with the interview data for the second-order categorisation when the
latter had also gone through the process of first-order coding. Similar codes
were induced from the interview data, as well as new codes being identified
before progressing to the second-order categorisation. In accordance with
Clark et al (2010), the coding levels are illustrated in Table 4.4.
Additionally, in order to have an understanding of the priority assigned to CSR

activities in each bank from the first-order codes emerging from the secondary
data, the researcher measured frequency; the number of counts first-order
codes represented CSR activities appeared in the data for each bank. This
approach was essential to uncovering through reporting which CSR activities
were prioritised in each bank as shown in Appendix A. This initial snapshot of
CSR activities in each bank (Table 4.4) provided a comparative insight into the
nature of CSR practices in the banks. It was also clear at this stage that all the
cases conducted their CSR activities in the sectors of education, health, social
welfare, sports, arts and culture. The indicative, emergent codes informed and
guided the analysis of the semi-structured interviews.
80
Table 4.4: Frequency Measure of CSR Activities in Each Bank
Secondary data Number of counts
first-order codes
UT Access Fidelity
Giving resources (food and 9 3 1
equipment)
Giving money and raising funds 10 3 10
Giving employee time and skills 11 6 0
Positive impact on society and 8 2 1
investing in local community
Training 2 1 1
Employee welfare 0 1 0
Social inclusiveness 0 2 0
Sectors covered: Education; Health; Social welfare; Sports; Arts & Craft
According to the data, there was variation in the conduct of CSR across the
banks, which is interpreted further in the analysis in Chapter 5.
The interview data

The design of the interview guide was developed partly based on the core
principles of CSR and from the viewpoint of soliciting the managers’
worldviews on CSR. The interview guide used was semi-structured so that the
participants had the freedom to talk about what was of significant importance
in the area of questioning and ensure that all essential areas were covered,
eliminating some of the problems of an entirely unstructured interview. Due to
occasional probing from the researcher based on responses which were
unique to each interview, the nature and length of the interviews varied as
expected, although on the whole the built-in structure and framework simplified
the process of management and analysis.
The interviews were conducted in the quiet of the informants’ offices in each
of the banks and recorded on an Android mobile phone recording application.
Each interview was then fully and manually transcribed by the researcher,
taking 48 to 100 hours to transcribe the interviews. This process allowed
complete immersion in the data. The audio recordings were listened to soon
81
after the interviews were done, which helped the researcher to take some
notes around the issues discussed whilst they were still fresh in the mind. The
transcriptions were also read through several times for greater familiarity with
the data. During this process, the researcher was able to identify matching
patterns from phrases and words which were then marked out.
The next process involved bringing order to the raw data by using analytical
procedures to transform them into something meaningful, thereby gaining
understanding (Gibbs, 2007). In order to ensure easy identification and
retrieval of data, each transcribed interview was labelled and filed both in hard
copy and electronically. After embarking on a two-day training course on
NVivo, the researcher started to upload the data into the software. After all the
data was uploaded, nodes based on the patterns previously identified were
created by grouping into named clusters all phrases or statements that
matched a particular pattern. It is noteworthy that NVivo was used mainly for
organising and managing the data, as the researcher felt the volume of data,
was small enough to be analysed manually.
4.6 Analysis
To establish the categories of data, thematic analysis was used as explained
by Boyatzis (1998, cited in Braun & Clark, 2001, p.79) as a “method for
identifying, analysing and reporting patterns (themes) within data.” Thematic
analysis offers the researcher the flexibility of a rich, detailed and complex
account of data, as well as summarise key themes of a large body of data,
providing “thick” descriptions whilst highlighting similarities and differences
across the datasets to inform and challenge theoretical models (Gioia, 2004).
Thematic analysis is widely used by social scientists and as an accessible form
of analysis, as it is not “wedded to any pre-existing theoretical framework and
therefore it can be used within different theoretical frameworks” (Braun &
Clark, 2006, p.81).
The researcher analysed the data using procedures recommended by Strauss

and Corbin (1998) and Miles and Huberman (1994), a process of thematic
analysis wherein emergent themes from each case or unit of analysis were
compared across the other cases.
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In constructing the emergent themes, data gathered from both the archival
sources and interview transcripts were used. The researcher engaged in each
unit of analysis a within-method (across multiple interviews) and between-
method (across archival and interview data sources) (Browning et al, 1995).
As a result, a combination of interview data supported by evidence from
archival data provided the majority of the codes in the three cases, although
some codes were supported only by interview data. This procedure of within-
case analysis enabled richer, in-depth and more reliable descriptions of each
case (Denzin, 1989; Graebner & Eisenhardt, 2004; Jick, 1979) and a means
of establishing construct validity (Yin, 2003). Thus, establishing the
appropriateness of inferences made on the basis of the information provided.
In circumstances in which data gathered from interviews were not clearly
consistent with what was learnt from the archival sources, this was discussed.
In addition, the processes of within-case analysis and across-case analysis
were conducted to ensure case study rigour (Golden-Biddle & Locke, 2007).
The process of ensuring case study rigour is discussed in detail further on.
In line with qualitative research, this analysis continually developed through

cycles of inductive and deductive reasoning (Gavetti & Rivkin, 2007; Hoffman
& Ocasio, 2004), with the researcher’s initial familiarity with the broad literature
on CSR and Ghana’s banking sector. This process led the researcher to make
sense of the role CSR played in the experiences of managers in the banks.
Thus, the issues identified were attuned to interpretive processes and
outcomes in the initial reading and coding of the cases, which were further
examined with additional data and existing literature. The archival and
interview data underlying each case revealed certain themes and at times,
unexpected information about specific CSR practices that were prevalent in
each of the cases. The process of repeated comparisons of the data emerging
from the analysis helped to study the phenomena of CSR. The analysis of data
will be discussed in depth further on.
Thematic Data analysis

The analysis of the secondary data created a list of emergent first-order codes
which was later examined against the interview evidence. This initial
categorisation derived from textual/content analysis was used to consult
83
existing literature for concepts and frameworks to explain what was found in
the data. In order to investigate CSR responsibilities in the context of banks in
Ghana, the core principles of Carroll’s model were incorporated into the coding
scheme to explore its application within the context. Hence, the analysis began
with a loose idea of some predefined areas of interest – types of CSR activities
– which were explicitly looked for in the data (Lewins & Silver, 2007).
Throughout the whole process, it was important for the researcher to
acknowledge the tension between deduction and induction, which is similar to
Bateson’s (1972) argument for a combination of loose and tight thinking. The
approach to the process was mainly more inductive in the phase which
involved investigating the type of CSR practices and analysed a set of specific
pre-existing theory. However, it was the pre-existing theory which set the
researcher on this particular path of investigation in the first place. The
deductive reasoning was however, more evident at the stage where the
linkages of the evidence was being made with the CSR pyramid concept.
This cyclical approach of exploring data deductively and inductively involved

a close and repeated consideration with the data and literature which led to an
identification of second-order theoretical groupings of the initial codes that had
emerged from the data. Thus, relationships between and among the initial
categories were drawn which then facilitated categorising them into second-
and third-order themes. For example, first-order codes on the different types
of giving led the researcher to review contemporary literature on giving by
organisations. Drawing on this literature, the researcher grouped these
themes into theoretical categorisation of philanthropy. The organisation of
these theoretical categories of first-order codes, second-order categorisations,
into aggregate theoretical dimensions are represented in the data structure
(Corley & Gioia, 2004; Maitlis & Lawrence, 2007) in Table 4.5. The final
categorisations are displayed in the last column of the table. It should be noted
at this stage that the process of analysis was not entirely linear in nature.
However, the process of second-order codes were depicted only after the
researcher was satisfied that no more first-order codes could be achieved.
The process of coding was an important stage (Morse & Richards, 2002;
Hubermann & Miles, 1997) where the researcher had to make choices about
84
suitable and accurate words to use to label the ideas or themes repeatedly
seen in the data. This was essential to organising the data and integral to
interpreting the phenomenon. The codes used for the initial analysis informed
the initial categorisation, however, further codes emerged. Some of the codes
were in vivo referring to words that the interviewees had used which had the
ability to take discussions to the world of the participants (Corbin, 2006a),
whilst others were ‘topic codes’ (Richards, 2005) which were those codes
where the researcher created a term to describe something that was revealed
in the data without an explicit word for description. For example, the word
‘giving’ represents all references that use the same word or imply the same by
mentioning words with similar meanings such as “philanthropy”, “donations”,
or “contributions”.
85
Table 4.5: Data Structure
UT Access Fidelity First-order Codes Second-order Theoretical Aggregate Theoretical

Categories Dimensions
Ba B ba Statements that convey banks giving resources.
BA Ba BA Statements that indicates banks giving money.
Donations & Contributions
ba Ba A Statements that refer to activities aimed at raising funds
for a cause or an organisation.
BA BA A Activities taken to engage with the local community. Community Activities Philanthropy
B Ba A Statements that convey employees giving their time.
- Ba - Employees giving their cash to project.
Employee volunteering
b Ba A Statements that refer to employees giving their skills.
bA b A Events organised by employees to provide skills training.
BA Ba b Statements that describe activities with organisations.
BA BA bA Engagement with other organisations to deliver local
community activities.
b BA - Statements that describe positive impact on the local Partnerships with organisations and
community or society. local communities
Community relations &
- b A Expressions of appreciation from the local community
investment
for positive impact.
- A A Expressions of the need to engage with the local
community.
bA b bA Events implemented to provide training on financial
Financial Skills Training
literacy.
A bA a Statements that convey responsibility to the employee as
Internal activities Employee welfare
a stakeholder.
b - a Explicit announcement of banks positive corporate
image reputation Communicating externally
A A - Expressions acknowledging banks reputation and image.
Corporate reputation
Ba AB a Statements on reasons for communicating activities
ab ab Ab Statements about implications and effects of Influencing stakeholders perceptions
communicating activities.
Key: A More than 2 sources of interview data; a less than 2 sources of interview data;
B more than 2 sources of archival data; b less than 2 sources of archival data;
– not found
These terms were carefully created in order to avoid concepts that are not
really in the data. For example, ‘employee welfare’ stands for all the internal
practices the banks undertook to do over and above the employees’
contractual agreements. The process of coding informed the decisions the
researcher made about what was worth saving and how to divide up the
material. The computer-based software called NVivo was used to code all the
interview data via a process called noding. Content sometimes related to more
than one node. The researcher also attached memos to the nodes which were
evidence of her thoughts, reflections and related literature that was useful at
the analysis stage.
Presenting the data

A key challenge in the process was presenting the evidence for the emergent
categorisation and analysis. The rich qualitative data were rendered in
narrative for each case which was typically interspersed with quotations from
key informants and sometimes supported by other documented evidence. The
narrative entwined both theory and evidence of the pattern-matches in an
attempt to demonstrate the close connection between the empirical evidence
and emergent theory, as exemplified in existing qualitative research studies
(Gersick, 1994; Hargadon & Douglas, 2001; Mintzberg & Waters, 1982; Gioia,
2012). Therefore, for each relevant aggregate category in a case, it was crucial
to discuss the underlying theoretical arguments that provided the logical link
with the constructs. Due to the volume of data, it was not realistic to support
every emergent proposition with every case within a text itself, hence,
construct tables were used to summarise the related case evidence to
demonstrate the depth and detail of empirical grounding and further
emphasised the rigour of the study, for example, see Figures 5.1, 5.2 and 5.3
on Illustrative Evidence for the cases. Thus, the combination of tables and
selected text descriptions increased the qualitative proxy of measure for
investigating and developing the focal construct to meet the research
objectives.
4.7 Case Study Rigour

Following on from the philosophical assumptions and research strategy of this
study, it was necessary to achieve a degree of rigour, which according to
Gibbert and Ruigrok (2010) is not currently always featured in high-quality
case study research. Thus, the basis of using multiple case study is to derive
rich insights and opportunities to advance theory on CSR within a context
attributed to being able to show rigour, be convincing and trustworthy, as well
as address generalizability. The use of case study rigour is supported by
recent studies (Dube & Pare, 2003; Beverland & Lindgreen, 2010; Gibbert &
Ruigrok, 2010) which have addressed how findings from case study research
are used to contribute to a wider debate within similar contexts. Additionally, it
is indicative of how this qualitative research integrated measures to deal with
issues of validity and reliability in a non-positivist manner as notably
demonstrated by some qualitative researchers (Silverman, 2001; Pitts, 1994).
Guba’s (1989) construct on the four criteria – credibility (in preference to
internal validity), transferability (in preference to generalizability),
dependability (in preference to reliability) and confirmability (in preference to
objectivity) – was primarily used to scrutinise the rigour of the phenomenon in
question to establish the trustworthiness of this study. In the 1990s, work by
Denzin and Lincoln supported the use of this rigour in qualitative research.
Credibility
Lincoln and Guba (1985) argue that credibility is one of the most important
indicators of establishing trustworthiness. In addressing the credibility of this
study, the researcher set out to portray the true picture of the phenomenon in
question. In other words, to ensure confidence, it was important to present
clarity on the consistency of the findings with reality.
4.7.1.1 Selecting cases & informants

Selecting the cases for in-depth and within context investigation in a
purposeful manner to generate context-dependent knowledge provided a
basis for building theory from data generated from multiple sources
(Eisenhardt, 1989). As Siggelkow (2007) also stated, the findings of the case
illustrate the theoretical contribution of the study, therefore the choice of cases
is driven by this imperative. Additionally, as indicated, the selection of
managerial informants was strategic from the viewpoint that only managers
with formal CSR responsibilities within the banks were solicited for their views.
It is worth noting that there was the omission of CEO and Managing Director
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from UT and Access subsequently, which could potentially reflect a form of
bias in the selection of informants or culminate in unknown influences as noted
by Preece (1994). However, this was not a deliberate attempt to marginalise
– it was due to the fact they were not available for interviews in the very tight
time frames that the researcher had for interviews. Indeed, random sampling
of individuals could not have been used in this study due to the specificity and
limited number of relevant management level individuals involved, thus unable
to seek more insights of a wider group or general population. In terms of the
researcher familiarising themselves with the organisation, there were brief
initial meetings for introductions, understanding the operations of the bank and
for the collection of secondary data. The next meeting was for the interviews.
This limited time of interaction provided an initial familiarity with the
organisational culture and to have adequate understanding of the operations
of the organisation. However, it did not allow for the “prolonged engagements”
that is indicated by Lincoln and Guba (1985) and Erlandson (1996) whereby
the researcher becomes so immersed in the culture under scrutiny that
professional judgements are warped.
4.7.1.2 Collecting and analysing data

Establishing additional rigour relied on getting a fix on the phenomenon from
two or more points, which was achieved using the different data sources
(Denzin, 1978; Farquhar, 2012) as shown in Figure 4.5. The process of using
two or more data sources helped to address issues of validity (Beverland &
Lockshin, 2003; Yin, 2009) and reliability (Miles & Huberman, 1994) which in
the context of this study, covers credibility, transferability and dependability.
Thus, the researcher collected data from various documentation (internal and
external) and semi-structured interviews from different informants (see Tables
4.3, 4.4, Appendix A). The collection of secondary data served as a
background to understand the CSR behaviour of the banks as well as support
in designing the interview guide. The use of secondary data compensated for
the limited interviews, and exploited the benefits of the existing evidence it
provided. It is worth noting that although archival and documental data were
collected from the banks, they were quite diverse from the viewpoint of some
being internal documents created corporately by the banks (e.g. annual
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reports and internal newsletters) and those produced externally but relating to
the banks (e.g. press cuttings). The researcher also seized the opportunity to
examine certain documents that were referred to by a couple of the informants
during the actual interviews, which provided further insight into the CSR
practice of the banks. For example, Access referred to video recordings (in CD
format) of the training seminars that were organised for the banking sector in
the trading of secondary bonds. Another example was the provision by Fidelity
of the CSR strategic framework that was developed by a CSR consultant as
evidence of the bank’s initial attempt to strategise CSR – which subsequently
failed. The comparable nature of the analysis (across case analysis) also
allowed for further triangulation of data and corroboration in order to exploit
more opportunities. Van Maanen (1983) supports the use of comparison to
seek more information. With regards to the collection of interview data,
according to Yin’s (1994) recognition of correct operational measures to use,
specific procedures were followed in designing the line of questioning in the
interview guide and the subsequent analysis of data of the semi-structured
interviews. The designing of the interview guide is discussed in Section 4.4
The use of an interview guide instead of a questionnaire was to provide
flexibility in the nature of questioning and to allow the researcher to probe
further for details wherever necessary. At the same time, it kept the structure
of the interview in place to ensure all the categories of questioning linked to
the research objectives were covered. In addition, each informant was given
an opportunity to confirm or refuse participation at the beginning of the
interview to ensure genuine participation and encouraged frank. A protocol
form (included in the interview guide) was then provided to be signed by
participant as evidence of consent (Appendix B).
Transferability
In addressing transferability, data triangulation was used by establishing
multiple (two or more) data sources to provide a more certain portrayal of the
phenomenon being studied (Jick, 1979). The process is illustrated in Figure
4.5 of multiple data sources used to establish or dispute the phenomenon. In
practice, emergent themes from the interview data were supported by the
secondary data (Bonoma, 1985). In accordance with Yin (2009), the use of
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different data sources shows how evidence converged and in reference to this
study, contributed to establishing emergent themes and patterns in an
objective manner and for the sake of credibility. This is confirmed by Bluhm et
al (2010) who state that for a study to gain impact; two or more data sets are
used for corroboration, and dependability. For example, this is especially
evident in the cases of all three banks regarding claims of donations and
contributions being a significant part of their CSR practices.
Figure 4.5: Triangulation of data sources from each case
Source: Bluhm et al (2010)
Additionally, the triangulation of the various data sources within and across the
cases (Beverland & Lockshin, 2003; Yin, 2009) as discussed earlier, was to
establish a degree of convergence (Jick, 1979). This was achieved through
critical investigation of the findings (Silverman, 2006) by using the process of
“enfolding with the literature” (Eisenhardt, 1989, p.544), which refers to closely
examining emerging theory with existing literature. This process aimed to
ensured that the causal relationships between the variables were sound and
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unbiased, other explanations of causal effect were ruled out (Farquhar, 2012),
rival explanations for the findings were debated (Patton, 1999) and negative
cases were dealt with (Beverland & Lindgreen, 2010). Thus, the researcher
was able to achieve some converging findings which contributed to theoretical
concepts and the phenomena of CSR with greater precision (Modell, 2009),
and confidence of the research (Wolfram Cox & Hassard, 2010). Thus, the
researcher was able to achieve some converging findings which contributed
to theoretical concepts and the phenomena of CSR with greater precision
(Modell, 2009), and confidence of the research (Wolfram Cox & Hassard,
2010). Therefore, where similar emergent results were identified at different
sources, findings were more credible. Finally, throughout the study, the
researcher ensured that cues were provided to manage expectations by
drawing out the scope of the study. This allowed the researcher to keep within
the boundaries to meet the research objectives.
Similarly, inconsistencies in the findings were picked up, culminating in

divergent results which provided an opportunity for a more enriched research
(Patton, 1989). For example, the emerging issues of employee welfare were
a contradiction to existing literature on matters concerning employee welfare
in CSR, from the viewpoint of the employee being a primary stakeholder.
The notion of transferability which is also known as generalizability relates to

the belief that theories must be shown to account for phenomena not only in
the setting in which they are studied but also beyond those confines (Bryman,
2012). In this multiple case study, there was no aim to generalise the findings
to a population. However, although the use of case study research justifies in-
depth and contextual research, it can also be argued for the contribution of the
study beyond the immediate cases. In other words, how the findings of a case
study can contribute to a wider theoretical debate. This challenge has been
summarised as follows: “On the basis of our researched case(s), what can be
said about non-researched cases?” (Swanborn, 2010, p.66).
In this study, the above question may not be the right one on the grounds that
the purpose of the multiple case study is not to make claims about un-research
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cases but rather to contribute to knowledge based on the findings of the
selected cases which is based firmly on the aims of the study.
Thus, whilst some critics suggest that generalization from case study research
is only tentatively possible and that it should be complementary to more
extensive research (Swanborn, 2010), others have asserted that the study of
multiple cases as opposed to single cases does create a basis for generalising
(Johnston et al, 1999; Leonard-Barton, 1990). Siggelkow (2007) sympathises
that in spite of the benefits that this style of research yields in the generation
of insights, there is still debate on the strength of rigour and contribution of this
type of research. Transferability was therefore achieved analytically within the
context of the multiple case study with research findings considered in the light
of being congruent with and/or connected to prior theory (Miles & Huberman,
1994; Yin, 2009). Hence, to extend and develop theory within context, strategic
case selection was conducted through purposeful sampling according to their
ability to provide revelatory insight (Yin, 2009) about the phenomenon under
study and within the confines of the context. The specific bounding of the
cases was made explicit to enable the findings of the study to be generalised
to theory as well as extended to similar contexts in future. Statements made
were illustrated by the evidence in the cases (Siggelkow, 2007), through the
evaluation of those findings with extant theory.
This is supported by some recent investigative studies in several disciplines

on strengthening the overall rigour of case study research (Beverland &
Lindgreen 2010; Gibbert & Ruigrok, 2010; Dube & Pare, 2003). The choice of
cases therefore provided a nuanced view of reality through generating context-
dependent knowledge; a basis for building theory from evidenced data
generated from multiple data sources (Eisenhardt, 1989).
Additionally, the strategic choice and interviews of management informants

over the twelve-month period provided a strong basis for making a contribution
to theory using multiple sources of data repeatedly (Woodside & Baxter, 2013)
making an argument for triangulation of data sources.
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Dependability
To enhance the quality of the study, whilst addressing transparency, careful
analytical procedures were also taken (Eisenhardt, 1989). In accordance to a
recognised template for qualitative research used by various researchers
(Hubermann & Miles, 1984; Eisenhardt, 1989; Gioia, 2010; Gioia & Corley,
2010), care was taken by the researcher to ensure the study’s dependability
by providing sufficient detail from the data in the written text (Farquhar &
Michels, 2013), supported by the use of tabulation to present the broader
information with clarity and transparency. Transparency is achieved through
the reporting of research actions which “talk the walk” (Gibbert & Ruigrok,
2010, p.725), thus developing a comprehensive data structure as evidence of
the process. The transparency of evidence of data structure also brought to
the fore any discrepancies and possible explanations (see Table 4.5) .
Additionally, according to Golden-Biddle and Locke (1993), written texts are a
form of rhetoric through which readers engage with the text to create
interpretations. Siggelkow (2007) confirms this by stating that a writer’s goal
should be to write a paper that readers find convincing. Thus, the
interpretations of the data were constructed as convincingly and transparently
as possible with snippets of detailed evidence, such as the actual statements
made by an interviewee, to convey credibility and persuasion. It was important
for the researcher that the informant’s voice was heard as part of the narrative.
Rosanna Hertz (1997) describes voice as:
A struggle to figure out how to present the author’s self while

simultaneously writing the respondents’ account and representing
their selves. Voice has multiple dimensions: First there is the voice of
the author. Second, there is the presentation of the voices of one’s
respondents within the text. A third dimension appears when the self
is the subject of the inquiry… (pp. xi–xii)
Hence, the exact words of the informants were used – an opportunity to let the
informants speak for themselves. The words of the informants therefore
presented a basis for the researcher’s voice to be heard, which were the
interpretations – explanations and analyses of the informants’ words.
However, Geertz (1998) demonstrates that the researcher’s voice is rarely
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genuinely absent or hidden. Thus, knowing how to express the researcher’s
self and the ability to locate oneself deliberately within the texts was a
challenge. The use of “enfolding literature” served as one of the balances to
bolster the credibility. The presentation of the author’s inquiry of self will be
discussed in further detail in Section 4.8 (Reflexivity).
The detail of coding showcased in figures used is found in work by Gioia et al

(2012) and Clark et al (2010). An integration of convincingness which builds
on authenticity, plausibility, criticality and managing expectations (Farquhar,
2012) was applied to ensure quality in the study of the phenomenon, linking
the theoretical with the empirical (Ragin, 1992; Siggelkow, 2007) within the
specific context (Creswell, 2007; Miles & Huberman, 1994; Swanborn, 2010),
during a certain period (Swanborn, 2011) to persuade.
Confirmability
The concept of confirmability addresses the researcher’s concern of
objectivity. According to Patton (1990), there is the recognition of the challenge
of ensuring neutrality (objectivity) since the interview guide was designed by
the researcher. Thus, steps were taken as much as possible in this study to
ensure that the findings of this study are a result of the experiences and ideas
of the informants and not the preferences of the researcher. The role of
triangulation which has already been discussed has to be emphasised in its
contribution to confirmability by reducing the effect of researchers’ bias.
According to Miles and Huberman (1994), the extent to which the researcher
admits her own predispositions and the reasons underpinning the decisions
made on process and methods are addressed. Additionally, the researchers’
ability to show clarity in the process through a step-by-step approach, the
protocols put in place at various stages, the visual presentations and the
reflection presents an audit trail that confirms the trustworthiness of this study.
4.8 The Researcher’s Experiences: Reflexivity

In this section, the researcher is reflexive on the role of the researcher in the
accounts of other people’s lives. This reflexivity is based on interpretation
according to Denzin (1994), who asserts that nothing speaks for itself.
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Reflexivity is posited on the premise that “knowledge cannot be separated
from the knower” (Steedman, 1991) meaning, it involves thinking about who
has conducted and written the research, how and under what condition, and
the impact on value of the research (O’Reilly, 2009). The interpretation of
events involves critical thinking about the context and how these thoughts are
presented with an acknowledgement that the researcher was part of the world
being studied. As a result, it is written in the past tense with a rigorous sense
of partiality (Clifford & Marcus, 1986) and in the first person (Geertz, 1988).
The model adapted for this process was developed by Drevdahl et al (2002)
who provided a systematic process for reflection that consists of three phases:
assessment, implementation and dissemination. The first assessment phase
determines whether conditions are conducive to conducting the research by
assessing the personal readiness and condition of the researcher in a truthful
critique in participating in the research. During the implementation phase, the
researcher focuses on the research process – data collection and analysis
methods – paying particular attention to the rigour. Finally, at the dissemination
phase, the researcher provides insights that enhance the research process by
communicating findings to the academic community. On completion of this
phase, the researcher returns to the assessment phase with new inquiries
discovered to investigate.
My journey as a part-time PhD student and full-time lecturer in marketing

started in December 2009 when I developed the initial draft proposal on CSR
in developing countries. The last four years of PhD study was a journey of self-
development and transformation of personal attitudes, stretching my
intellectual capabilities in research and professional life. As presented in Table
4.6, the core period of executing the research was between March 2010 and
December 2014 by which time I had a complete draft of my thesis. However,
it took an additional six months of corrections to get to completion. It is an
undertaking that has been time-consuming, expensive in terms of the long-
haul travels that were required and sometimes taking its toll on my health and
personal relationships.
The PhD experience involved significant learning and development (Glaze,

2002; Hockley, 2004) in a process of career and professional development
96
from a practitioner marketing consultant with a decade of academic
experience. My process of learning throughout the PhD degree is explored by
a reflective self-study, using a lifelong learning perspective (Jarvis, 2009). In
this narrative, the results reveal a four-year long journey from a PhD academic
staff to a fulfilled professional, whilst embracing the challenges and
opportunities of being a wife and mother of two young boys. The discussions
which are written in the first person as I reflect on my own lived experience
within the context of the research process, also sometimes highlight how my
lifetime of previous experiences influenced my learning.
My background
I embarked on a part-time PhD in CSR after ten years of being in industry as
a marketing practitioner and five years of being a lecturer in the same field. It
was at a time when I was finally certain I intended to continue my career path
in higher education. Although I acknowledged the fact that the doctorate
program would formally establish me as an academic, I was also very
interested in individual development and learning. I saw an opportunity to set
the stage on route to the world of academic publishing. As a result of having a
significant number of years of work experience both as a practitioner and
academic, I had established relationships with prior business associates, work
colleagues, faculty peers, and family and friends which framed the social
context within which my learning, development and progress took place
(Davenish et al, 2009; Sheitzer, 2009).
According to Hockey (2004), the doctoral experience is a time students learn

about research, methodology, contribute to literature and submit a dissertation
in a particular field. However, the dynamics of accomplishing these are more
complex than meet the eye. Although I had been thinking of taking up a PhD
programme for at least three years before I finally embarked on it, my first year
of the programme was particularly challenging with several revisions to my
topic and the scope of the research. I am now 43 years old and in the fourth
and final year of my PhD. This self-reflection therefore captures the period of
initial entry to the programme, through the process of immersing myself in
literature and qualitative methodologies; and collecting and analysing archival
and interview data from three cases. However, it is important to note that my
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previous experiences outside of the programme had meaningful influences on
how I perceived and learned from my experiences in my PhD programme.
Having parents who were both academics – my father a professor in adult

education and my mother a teacher in education – unconsciously shaped my
values, aspirations, actions and decisions. Prioritising my learning and
achieving were unmissed goals, and being the youngest of four children who
are all professionals in their own right meant that I had role models. I am
passionate about being creative and this influenced the choices I made in
selecting my subjects in high school, and perhaps the seemingly incoherent
academic pathways which completely make sense in my mind’s eye. I
completed a Bachelor of Arts (Honours) in Graphic Design where I took a
particular interest in photography. After three years of practice as a graphic
designer in publishing, I developed an interest in marketing communications,
hence spent a few years in marketing communications within the financial
sector. With significant marketing experience behind me, I joined the
Chartered Institute of Marketing to take up a Professional Post-graduate
Diploma in Marketing, which I then topped up with a Master of Science in
International Business. At the time, I felt marketing communications had a
synergy with graphic design, and international business gave me a flexible
career pathway. During the years of completing my first and second degrees,
and building my career, my experiences contributed to creating in me a mature
mind set and putting me on a pathway to undertake a PhD.
Assessment Phase
The initial stage required a lot of reading of good quality journals to understand
the subject matter better and also decide on the focus of the research. There
was extant literature on CSR which posed both an opportunity and a
challenge. Although there was enough literature to trawl through, it took
several weeks of one journal article leading to another to start getting a sense
of an emerging story around the dearth of literature on CSR in developing
countries. However, the one article that served as light-bulb moment for me
was one authored by Wayne Visser in 2006 entitled “Revisiting Carroll’s
pyramid: an African perspective”. It is from this article that my research took
off.
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As a born and bred Ghanaian, with very little work experience in corporate
Ghana in my adult life (except for an internship in a graphic design studio in
my final year of my first degree), I engaged with this research having very little
notion on expectations from Ghanaian businesses. Therefore, my time of
interaction with the domestic banks proved to be insightful and sometimes
surprising. Prior to embarking on the long-haul flights to collect my data, I have
to make contact with the informants and book my appointments. I soon came
to realise that these appointments were by no means set in stone and the onus
was on me to ensure that they actually took place. The first lesson I learnt was
to ensure that once an appointment was booked with a manager, I kept
checking on regular basis that I was still in their diary until the last hour for the
interview – even this was not a guarantee. The realisation of this made me
continually nervous throughout my visits because until I had the interviewer in
their office ready to have a chat, there was the fear that circumstances could
change very quickly. My research was not a priority to them and so was easily
postponed. After a series of postponed interviews and two trips to Ghana, I
was able to speak all, but one of my informants. Secondly, I learnt to be patient
and allow myself a lot of time for an appointment due to the usually long waiting
times for the appointment. An appointment time was just the general period of
time and not the exact time. In one case, the manager I initially agreed to have
the interview with resigned and left the company before I could visit, and
neither notified neither me nor his replacement of my visit. This caused a delay
in getting another interview arranged as I had to go through the process of
introducing myself and awaiting agreement before progressing. In any case,
once I engaged with the banks, there was readiness to provide me with all the
relevant data I required for my research.
Implementation Phase
This stage assesses the peaks and troughs I experienced during data
collection and analysis.
I had to learn to be flexible throughout the PhD journey, but particularly so at

this stage. Thus, although I had timelines and milestones for the major stages
of the process, these shifted as I went along due to unexpected and necessary
delays such as going back and forth in the analysis of the data as well as re-
99
writing of the chapters. Inductive and deductive analysis, initially manual, and
then based on recommendation from peers at a conference, I had training to
engage with NVivo in organising my data. I was surprised by how much I had
to revisit data and didn’t realise that this was never going to be a linear
approach to data analysis. Although mentioned, the order of writing for a thesis
unfortunately under-represents some of the messiness involved in how the
themes and findings actually emerge from the data. The peaks for me at this
stage were when it was clear that I was making sense of the data and there
were themes emerging. However, there were moments when I had a total
block and could not get anywhere. Additionally, I had to make time for the all-
important dissemination points of writing conference papers related to my
research subject in order to solicit constructive feedback from academic peers
which were invaluable in shaping the direction of my thesis. During this time,
what kept me motivated and enthused was the fact that I was passionate about
the subject, which made me enjoy the process for the majority of the time.
100
Table 4.6: Research Timeline
Period Process
December 2009 Developed draft of research proposal
March 2010 Submitted proposal for RS1 (including Ethics
Approval)
October 2010 RS1 approved to commence data collection
May – June 2010 Secondary data collection
July 2011 – June 2012 Writing: Literature review, Methodology, and
Analysis of secondary data
July 2012 Submitted RS4
September 2012 RS4 reviews received for revisions
October 2012 RS4 Transfer Seminar and Scrutiny approved
December 2012 – January Interview data collection (2 banks)
2013
April/May 2013 Interview data collection (1 bank)
June 2013 NVivo training
June – December 2013 Organising and analysing data
January – July 2014 Writing: Analysis, Discussions and Findings
September 2014 Completion and submission of 1st draft
October 2014 Feedback from supervisors and revisions
November 2014 Submission of 2nd revised draft
March 2015 Submission of 3rd revised draft
December 2015 Corrections, editing and proof-reading
February 2016 Submission of complete thesis
Dissemination Phase
One of the discussions my Director of Studies stressed at our very first
supervisory meeting at the beginning of the PhD programme was to ensure
that I disseminated my research as I progressed. Therefore, I started to identify
relevant conferences in the first instance that I could submit papers to. The
process of finding topics for the articles was relatively easy and
developmental, as they were based on the stage I was at with my research at
any particular time.
I submitted and presented papers at peer-reviewed conferences such as and

organised by Academy of Science, Academy of Marketing, Corporate
101
Marketing Communications, International Colloquium of Place branding,
University Of Bedfordshire, and University of Ghana Business School. At the
colloquium, a working paper which was presented evolved into an article which
is currently under review for publication with the Qualitative Market Research
(QMR) international journal. My second and third year were the busiest for
presenting papers at conferences as I found the exposure and feedback a
useful and valuable input to how I shaped my research. The list of research
disseminated during the period of this study - conference papers and one
journal article publication is presented at the beginning of this document. The
process also gave me a sound understanding of how to write articles for the
academic community for peer review. Indeed, the process of writing articles
for conferences and publications was a learning curve in itself. Feedback from
expert academics and peers in similar fields helped to provide an even better
understanding of what I was trying to achieve in my dissertation, both from the
viewpoint of the content as well as the process e.g. methodology. In the
articles, I was also able to articulate the findings of my research, initially the
secondary data and then including the primary data.
4.9 Conclusion
The philosophical assumptions of this study informed the research strategy
and methodology of this study. The interpretivist approach ensured in-depth,
rich analysis and collection of data on the phenomenon, as well as a reflection
on the researcher’s experiences during the whole process.
Following on, Chapter 5 analyses the individual cases by investigating the

emerging themes in each case.
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5 Findings: Within-Case Analysis
5.1 Introduction
This chapter covers within-case analysis which is an in-depth exploration and
description of each of the banks. The aim is to discern how the patterns or
themes emerge in each case to contribute to a CSR framework that captures
CSR practice in retail banks in Ghana. Hence, the choice of analysis is
influenced foremost by the purpose of study. In support of Stake (1995),
individual cases are of interest to the researcher both for their uniqueness and
their commonality. This creates an in-depth understanding and description of
the phenomenon under study within the particular case. This also ensures that
the contextual richness of each case is not stripped away. As Sandelowski
(1996) points out, “looking at and through each case in a qualitative project is
the basis” of analytical interpretations and generalisations (p.525). Thus,
recurring insights that develop into themes from one case sensitise the
researcher to similar information as it occurs in the other cases.
The interpretive approach gives voice in the interpretation of events of the

people experiencing them and “the native’s” point of view as an important
component of the analysis (Van Maanen, 1988). The within-case analysis of
each bank was constructed using data gathered from both the archival sources
and interview transcripts, enabling richer and more reliable descriptions of
each case (Denzin, 1989; Graebner & Eisenhardt, 2004; Jick, 1979) and a way
to establish construct validity (Yin, 2003). The use of archival sources aided in
reducing the risk of analysis being impacted by interviewees’ retrospective
construction of “new memories” (Loftus & Hoffman, 1989). In addition, the
combination of use of datasets meant engagement in both within-method
(across multiple interviews) and between-method (across different sources for
a given case) (Browning et al, 1995) resulting in both archival and interview
data supporting the majority of the codes in each of the three cases. However,
there were some instances that were supported only by interview’s data.
The rich qualitative data is presented in a narrative that is interspersed with

quotations from interviewees and supporting evidence from archival data,
intertwined with enfolding literature (Gersick, 1994; Hargadon & Douglas,
103
2001; Mintzberg & Waters, 1982) to reach distinct propositions (Eisenhardt &
Graebner, 2007). The researcher does not intend to develop generalisations
that represent multiple accounts as there are only three cases in this case
study research. However, this does not rule out the possibility of conducting
this analysis in another similar setting.
In this section, each of the cases will be analysed thoroughly to explain and
understand the nature of CSR within each bank. See Tables 5.1, 5.2 and 5.3
at the end of the chapter for additional illustrative evidence of each case.
5.2 The Case: UT Bank

UT Holdings Ltd is the parent company which was born from UT Bank. UT
Holdings Ltd now has a number of subsidiary companies which include UT
Properties, UT Insurance, UT Logistics, UT Life Insurance, UT Private
Securities, UT Collections and UT International (Nigeria and South Africa).
UT Bank’s headquarters is in Accra. The bank has 27 branches (Interview

data, 2013), 221 employees at the headquarters, 457 permanent employees
and 136 temporary employees across the branches nationwide.
The vision of UT Bank Ghana Ltd is “Redefining Banking” and its mission is
“to be the preferred bank for businesses and individuals, and to provide quality
and outstanding products and services with speed and efficiency in order to
generate customer satisfaction and build shareholder
value”(utbankghana.com). UT Bank is registered on the Ghana Stock
Exchange, with their majority shareholding being their customers.
Departmental Function
The CSR function in UT Bank is part of the Corporate Affairs department,
which is led by a Group Head, Corporate Affairs, who is the direct report for
the Media & Public Relations Manager, assisted by a Corporate
Communications Officer and two other Communications assistants. It is
noteworthy that there has been a restructuring in the organisation since the
initial contact the researcher had three years ago in 2011. At the time,
informants were contacted to engage with this study – the Media & Public
Relations Manager and the Corporate Communications Officer – were the two
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top roles for the CSR function, which was part of the Marketing Communication
department. This department also had a Brand Manager, whose role was
horizontal to the Media & Public Relations Manager, with their direct report to
the Chief Executive Officer, UT Bank Ghana Ltd. Now, although the Media &
Public Relations Manager is still a senior management role, the direct report
is to Group Head, Corporate Affairs, who in turn reports to the CEO, UT
Holdings.
When asked what the function of this new department was, this is what the
senior manager said:
“Strategically, it’s to manage the corporate reputation of the company.

This involves media relations, and being responsible for all media issues.
Secondly, we find ways of building relationships with other stakeholders,
developing and improving our website to ensure that we have a good
exposure out there. The next major thing is CSR which has become key
in what we do. We are also responsible for internal communications”.
(Media & Public Relations Manager)
The colleague confirmed that her role assisted the senior manager in
implementing the departmental function:
“...I had to get complete scanning of the daily press by 11am today. I do
this every morning to send off to the executives on time. I am responsible
for writing the press releases and articles for the press with my manager.
I am also involved with CSR, and I try to look for ways the organisation
can practice CSR in the communities that we serve”. (Corporate
Communications Officer)
The restructuring and role of the department is an indication of the bank

making efforts to be in touch with their current and potential stakeholders
through a more relevant departmental function. UT’s attempt to reposition the
importance of CSR in the bank’s strategic decision-making has led to the move
away from what used to be primarily a Public Relations and Marketing
Communications function to a Corporate Affairs function, within which the
Public Relations team exists and CSR takes place.
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“My manager and I – between us we are currently developing a CSR
document where I am responsible for the execution and she’s looking at
the formalities and strategy.” (Corporate Communications Officer)
In any case, this is the department and the team that drive the CSR agenda of
UT Bank. The decisions on CSR strategic direction and implementation are
made jointly by the Media & Public Relations Manager and the Corporate
Communications Officer.
Stakeholders
UT’s identification of stakeholders was quite generic, in terms of referring to
those who have an interest in the bank and without whose support the bank
cannot survive. In this context, interested groups are shareholders, investors,
employees, customers, suppliers, governments and communities that provide
the infrastructure, markets, laws and regulations.
“The members of staff, members of the community, clients, and

shareholders.” (Corporate Communications Officer)
When asked further to state whom their CSR activities impacted, there was
more clarification in terms of how their stakeholder clusters existed and the
particular overlaps. Interestingly, there was a significant overlap between
members of the community and their shareholders:
“The image of the organisation is continually becoming synonymous with

our CSR practice and some of our shareholders are also members of the
community, so whatever we do in the community also impacts them.”
(Corporate Community Officer)
As a publicly-held bank, the shareholding structure was confirmed by their

colleague:
“We have a shareholder structure. We have the top 20, who are the
institutional shareholders. UT Bank shareholding is a broad one because
when we went public, we opened up to everyone – we went to the
markets and got the traders to buy shares. The last time we checked our
shareholders were over 9,800.” (Media & Public Relations Manager)
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This signifies an overlap of individual community market traders also being
shareholders implies that investing in communities impacts the very people
who have a financial interest in the bank, thus, justifying the use of their
money. Members of the community are encouraged to invest in the bank
because their lives have been positively impacted by the banks’ community
relations Additionally, this engagement is evidence to community stakeholders
that their money is put to good use:
“...our current CSR practice has given us a lot of goodwill with our people
– the customers and shareholders. They know that we are not wasting
their money. Time is past when we were private and sponsored the likes
of Miss Malika – a beauty pageant – as discussions clearly showed that
the bank was wasting money on girls flaunting their bodies. However,
with our community investments they are happy because they can see
that it’s impactful... indeed, our shareholders are the very people our
CSR is impacting.” (Media & Public Relations Manager)
There is a portrayal of reliance of the bank on the community and vice versa.
The other manager was supportive of the idea of the community contributing
to the success of the bank:
“Without the support of the community we cannot survive as a business”.

(Corporate Communications Officer)
Similarly, according to the data, there is a significant level of interaction and

engagement between the bank and its majority stakeholders, the market
traders, except one – the employees.
Although members of staff were mentioned as stakeholders, there was not

much mention of how the banks CSR practice targeted and impacted
employees apart from initiatives for healthcare. The only mention of employee
involvement was on their participation on an employee volunteering basis,
which does not directly impact employee welfare issues:
“Internally, health is key. We train staff. We bring in consultants and

professionals to aid with health and safety in the workplace, how to
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manage our time, take breaks at certain intervals, sexual health, and so
forth?” (Corporate Communications Officer)
According to the data, there was very little perspective of the bank on
secondary stakeholders – those individuals or groups who are not essential
for the survival of the bank and do not directly influence it, but are affected by
the bank’s activities, for example, current and future generation stakeholders.
It was, however, implied in discussions around the bank’s CSR projects
targeted on child or youth education or literacy. In other words, this generation
would benefit from these projects in the future when they have grown up to
become responsible adults.
5.2.2.1 The dialogue: engaging with stakeholders

Consequently, with regards to how the bank engages with stakeholders, the
response reflected mainly on members of the community initiating community
activities. Another way in which engagement took place was through
dependence on the relationships of community leaders or influencers with the
top managers, for example Tafu Golf Club and its CEO. There is the issue of
the form of dialogue used by the bank to identify problems in society that can
be solved by integrating with the bank’s CSR strategy. The form of dialogue
described by the bank is largely unsolicited and the process of resolving the
problems is certainly reactive.
CSR Approach
There is enough evidence to support that UT is oriented to short-term giving
of cash and resources without any expectation of getting anything in return,
which is typical of businesses in the developing economy context due to
expectations in society.
The two main categories of CSR practices that were identified in UT were
philanthropic and sustainable CSR. The former category being those activities
that involved giving of cash and resources; and the latter being those activities
that were consistent, planned over a longer term, considered to be more
impactful in the community and in some cases served as business
opportunities for the bank for economic benefits. The philanthropic activities
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were deemed as altruistic and purely about giving back to society without any
expectation in return.
The bank stressed efforts to implement community activities impacting the

lives of the local people in a way that was more long-term, as opposed to giving
donations and contributions for short-term fixes which have been the main
focus of their CSR practice in the past:
“Initially, our CSR practice was about philanthropy to help the

disadvantaged in society but with time we’ve moved away from this in
order to make an impact – to building up individuals to take control of
their own lives.” (Media and Public Relations Officer)
“My argument around CSR is that whether we want publicity or not it’s a
win-win situation and someone gets something from it. So our CSR
agenda has to impact the lives of the local people. The contribution we
make has to sort out a problem. We get those who come in to have a
chat and others send in letters.” (Corporate Communications Officer)
Although the bank stated a move away from donations, it is important to note
that from the examples that were given by the managers and evidence from
the archival sources, the majority of activities were about giving cash or raising
funds and giving resources for a cause or a project:
“...we make donations to educational NGOs whose cause is to take care

of people in education. There is one called Hope for Kids which sponsors
children from junior secondary school to higher education level. We have
the Family Outreach International, now called Outreach Ghana that takes
care of school children as well. We also make donations to the Cardio-
Forensic Centre at Korle-Bu Hospital in Accra.” (Media & Public
Relations Manager)
“We work on social upliftment – which involves donations to our

orphanages and there is what we call the Chairman’s Christmas Day
Outreach Programme. The Chairman with the support of employee
volunteers hit the streets on Christmas day to distribute food and drinks
to those people who carry load in the markets – the “Kayayos”. Every
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year, we distribute about 2000 packs. We also visit the Bostal Institute –
the juvenile prison with Christmas packs. We have the Day of Caring –
th
when on every 14 of February (the day of love), when we choose one
NGO – there is an organisation called United Way Ghana, which
identifies a couple of institutions so we choose one and assist with a
donation or in kind. Last year for instance, we supported School for the
Blind. This year, we went to a place in the area of Nsawam called Coaltar
where we went to de-worm the school children.” (Media & Public
Relations Manager)
The above donations and contributions stated by the managers resonate

with the following reporting in the annual report and press.
“CSR involvement included... donations and sponsorships that directly

benefit underprivileged sectors.” (Annual Report 2009, p.55)
“A day of caring - staff volunteering at an orphanage and donating clothes

and money.” (Unique News, May 2011, p.26)
“UT donates GHS270m to charity.” (The Enquirer, 17/12/2009)
Subsequently, one manager described some of the CSR activities as having

to be a win-win situation, whilst the other described a similar concept whereby
the bank focuses on social activities that provide business opportunities.
“...so we have moved from philanthropy where we have focused on

giving to doing more impactful things which also has a business
connotation. For instance, the financial programmes we do – our goal is
if people who are able to keep their books well come to us, we do not
struggle to give them the products they require. It is straightforward to
see how they are saving, their incomings and outgoings.” (Media & Public
Relations Manager)
The claim by management that there has been an increase in community-

related social activities supported by the secondary data which indicates that
these events reported outnumbered those events involving giving. This is,
however, under the assumption that most or all donation events were reported.
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UT suggests that although they get requests from the local community to
resolve issues, their choices are aligned with the bank’s corporate strategy,
geared towards business development and targeted to both the consumer and
the business customers.
“UT’s current strategy is to get 300,000 customers to bank with us by the

end of 2013. So every activity and every plan is geared towards that. In
going into the market, we are not just training them to keep their books
but also encourage them to save with us as well... we have an
Entrepreneurial Programme for business starters whom we also give
some business grants to develop their business and we monitor how well
they do.” (Media & Public Relations Officer)
“UT prides itself from evolving from an SME organisation, so the CEO
takes issues of SMEs very seriously. We support them because we
understand that sector very well and we know how to help businesses in
this category to grow. For example, the background to the Financial
Literacy Programme, which is our major CSR project, is drawn from this
concept.” (Corporate Communications Officer)
In addition to these two main CSR projects, UT focuses its CSR efforts in the
area of education and health in line with supporting the government to achieve
four of Ghana’s eight United Nations Development Programme Millennium
Development Goals – to improve maternal health, reduce child mortality,
alleviate poverty and combat malaria.
Relationship with organisations

The Financial Literacy Programme is apparently a major CSR event which
takes place in April and May annually when a team travels around the country
to educate existing and potential customers in the rural communities on how
to save. The Entrepreneurial Programme and the Financial Literacy
Programme are both designed to provide financial skills to businesses and
individuals and ultimately to get customers to sign up to UT’s products.
Additionally, UT depends heavily on partnerships with domestic and
international non-profit organisations to deliver some of the community
projects. These organisations are specialists in their areas of operations, so
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for example, they are in partnership with GIZ to raise awareness and
contribute to the diagnosis and treatment of breast cancer:
“As a company, we are also involved in breast cancer awareness which

we organise in October where we dedicate the whole month to talk about
breast cancer. Last year, we had 80 patients approach us with all levels
of cancer, based on our communications and we provided screening and
treatment. Some of them – those that had to undergo chemotherapy -
are still under our care. We also bought a Cancer Mobile Screening Unit
which we use in the communities, in collaboration with Cancer Society of
Ghana and GIZ (formally GTZ) and it’s based on a three year partnership
we have with them.” (Media & Public Relations Officer)
The bank also uses sports to educate and develop the youth, taking them off
the streets:
“We have sports development projects, for example the one at Tafu. The
CEO is the President of the Tafu Golf Club, and every year we sponsor
the Tafu Golf Tournament. The interesting thing about the Tafu Golf is
that the Caddies have had an Educational Endowment Fund created for
them by the bank. You must definitely be in school to be a Caddy, so
we’re encouraging education at the same time as they do their jobs. Most
of the Caddies now have also become very good golf players and are
being sponsored for their own youth tournaments.” (Media & Public
Relations Officer)
UT engages with organisations to support community projects that are not

necessarily directly aligned with the banks strategy, however, it shows the
bank’s efforts to understand the distinctive features of these stakeholders by
tapping on the strengths of specialist organisations to achieve their CSR goals.
Consequently, a number of partnerships have been developed for a longer-

term for sustained impact on the community. For example, partnerships with
the Cancer Society of Ghana and GIZ (Deutsche Gesellschaft für
Internationale Zusammenarbeit, “German Society for International
Cooperation”), and the Tafu Golf Club are based on a shared vision and trust.
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Due to the high level of investment in these partnerships, training and
professional development is required and undertaken to sustain the project, in
order to achieve the support aimed at stakeholder development.
The bank’s relationships with the organisations are typical examples of

engaging with the communities of place. This is particularly important in the
exploration of the concept of community relations due to the physical proximity
of the organisations, the wider range of stakeholders they reach, which allows
for some form of dialogue. As supported by Bathelt et al (2002), “Only by being
in the same local environment, and by meeting repeatedly in person, can and
will such subtle forms of information be exchanged” (p.2). Brown (2000, p.4)
concurs that “geographical proximity enables face-to-face networking,
common labour markets, and the diffusion of knowledge, especially tacit
knowledge which is difficult to codify.” For example, the CEO of UT, also the
President of the Tafu Golf Club, has contributed greatly to develop and
establish the relationship between both organisations by being actively
involved in both. Similarly, the Cancer Mobile Screening Unit becomes an
invaluable facility to aid the Cancer Society to do their job in diagnosing cancer
patients in the community and providing them with the appropriate treatments.
These interactions allow the bank and the partner organisations to identify and
organise useful and functional community-based activities and programmes
which coordinate and integrate with each other to create stocks of social
capital with the community, as well as provide economic benefits for the bank.
One of the managers indicated:
“Your health is your wealth, and we believe that as we train you to take
care of your business, we are also interested in taking care of your
health.” (Media & Public Relations Manager)
Subsequently, the notion of a healthy community becomes a wealthy

community begins to become a reality through saving peoples’ lives from
cancer and educating them for the future.
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Prioritisation of CSR responsibilities
The next stage was to use the four-part construct of Carroll’s CSR pyramid to
understand how CSR manifests itself in UT within the Ghanaian context.
Crane and Matten (2004) established in their studies of CSR in the European
context that “all levels of CSR play a role in Europe, but they have different
significance, and furthermore are interlinked in a somewhat different manner”
(p.46). This was to find out whether the order of the layers in a Ghanaian
context – taken as an indicator of relative emphasis assigned to the four
responsibilities – differs from Carroll’s classic pyramid.
UT was clear that the economic responsibility of the bank was the foremost
priority:
“I guess for us, economically - doing business and giving back to society
is key.” (Media & Public Relations Manager)
However, it is worth noting that the way in which the bank’s wealth is created
has been dependent on the stocks of social capital built through their CSR
practice. There is an implicit corporate social contract between the bank and
society whereby the bank has conferred upon itself the expectation to be a
good steward of the community’s resources because there is an expectation
from the community that the bank has the economic and human resources to
go beyond the participants in its transactions (Lantos 2002):
“UT has come this far because of the financial support we have given to
individuals and organisations, and the faith they have put in us,... so while
we are creating goodwill for ourselves through our practice, we are also
helping to build other peoples’ businesses because the major portion of
our CSR practice is the Financial Literacy Programme – we have our TV
programme called “Tit-bits on your finances” and a radio programme
called “Wu sika tisen”, meaning “How is your money?” (Media & Public
Relations Manager)
The relative dependence of the economic stability of the bank on their

relationship with the community through the financial literacy projects suggests
a correlation between their economic responsibility and ethical responsibility.
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The notion of the bank making efforts to make the community financially
literate so they can build their businesses and take care of their personal
finances is the right thing to do for the bank, irrespective of what the motive is
– this is the bank’s core business and the community is better off. The manager
also suggests that because their activities are within the legal requirements of
the country and indeed, go beyond it, then the bank is meeting its ethical and
legal responsibilities at the same time.
“We are not undertaking any practice that is against the law of the country
but rather we go beyond – caring about human dignity. If people are
unable to take care of themselves, we want to promote human dignity
which is both ethical and legal in my opinion... working ethically, most of
the time fits into the legal framework, anyway. I believe every ethical
activity has a legal basis, so if as a bank we’re practicing on ethical
grounds then we do not have any legal issues.” (Media & Public
Relations Manager)
The above demonstrates that although the economic obligation is seemingly

the most important, ethical and legal responsibilities of UT Bank are at par,
integrating with each other as priority responsibilities for the bank. In other
words, there was not any apparent reason to position these responsibilities at
different relative levels, but rather they seemed to share the same position as
being fundamental responsibilities for its CSR practice. Lantos (2001)
describes the integration of a firm’s effort to go beyond its economic and legal
obligations, to its ethical responsibilities as ethical CSR. This concurs with
Visser’s (2006) speculative argument of economic responsibilities in the
African context having the most emphasis, although in this case the legal and
ethical responsibilities are interdependent priorities. Visser (2006) suggests
that in Africa, philanthropy is given the second highest priority, followed by
legal and ethical. This issue of prioritising philanthropy was contentious from
the point of view that the manager reiterated that philanthropy had been key
in the past, and although there was a move towards long-term projects,
philanthropy still had a significant place in their CSR practice. However, there
is an acknowledgement that the dependence of the bank on society to make
profit relies on both philanthropy and sustainable CSR, but it is certainly the
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latter that will provide UT with continued profits in the future. In any case, the
secondary data indicated the fact that donations and contributions were high
on the bank’s CSR agenda:
“We intend to keep a bit of philanthropy and to give without expecting

anything back... but there are other CSR activities that are sustainable
we want to focus on... we are not an island and our success is dependent
on others so we need to appreciate that – the circumstances surrounding
our own beginnings and appreciate that others are trying to do the same.
If I make philanthropy a first priority then I lose sight of sustaining our
business.” (Media & Public Relations Manager)
The other colleague supported the viewpoint of philanthropy still having a

place in the bank’s CSR practice due to the demand for this activity from
stakeholders, despite sustainable CSR becoming the main focus.
“Philanthropy is one aspect of CSR we cannot do without due to the high

expectations for these donations from society... we give donations to
some organisations on an annual basis and they look forward to it. So as
soon as we call them to say it is time, they are so excited! In fact they
have plans for the money before they receive it. So yes, philanthropy still
has a huge place in our CSR even though we are moving towards
sustainable practice.” (Corporate Communications Officer)
Although UT is cautious about the use of philanthropy and believes firmly that
focusing on programmes that are linked to their core business is more
sustainable, they continue to acknowledge the importance of the former:
“It’s important that our CSR is in tandem with our core business practice
– this becomes easier as we have the skills to deliver and it helps our
business too. Hence, our financial literacy programme where sometimes
our staff serve as consultants to businesses to help them with their
finances”. (Corporate Communications Officer)
This leads to the suggestion that although philanthropy evolves from UT’s
ethical stance and is closely linked with economic benefits, sustainable CSR
is a priority for the future. Sustainable CSR is a term that was repeatedly used,
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but also synonymous with strategic CSR if their CSR practice is aligned with
the bank’s core business as indicated by their current major programme in
financial literacy.
Additional factors influencing CSR

Culture came up as an additional factor to consider when practising CSR in
Ghana. The discussion indicated that the bank’s knowledge of the culture of
society gave it opportunities to develop CSR projects that meet those cultural
expectations. In other words, the nature of projects the bank gets involved with
was influenced by the cultural expectations of the stakeholders:
“As much as we work within a community where there are cultural issues,
it plays a very important role. Even in developing and implementing the
project.” (Corporate Communications Officer)
“I guess culture does. You know the people you are dealing with, you
know their way of life, hence we want to develop projects that fit into their
cultural expectations.” (Media & Public Relations Manager)
Several empirical studies suggest that culture may have an important influence
on perceived CSR priorities (Burton et al, 2000; Edmonson et al, 1999;
Pinkston et al, 1994).
CSR influencing reputation

The bank confirmed that CSR contributed to their marketing communications
content and promotions in the press were part of their CSR process:
“Marketing communications and promotions play a role along with our

CSR practice – we need to report in order to create an emotional bond
with our customers.” (Media and Public Relations Manager)
When the researcher enquired whether this was definitely a required activity,
the manager said:
“Most of the time yes, we do. That’s why we have so many press cuttings.
Although I haven’t given much publicity to the financial literacy
programme yet – we are waiting until the timing is right.” (Media and
Public Relations Manager)
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It was indicated that not only was promotion of CSR good for business, but the
CSR practice when done properly, spoke for itself to their stakeholders.
“I believe an organisation gets that kind of reaction when their service

delivery is poor, and not able to serve customers as they should with
quality, then doing CSR becomes a cover-up. However, when the
customers are happy with what we do and commensurate with our CSR
activities, we have to perform. For instance last year, we won the Bank
of the Year Award, and we also won First Runner Up for CSR Award and
First Runner Up for Customer Services Award. We always know we can
do better, so for a bank that has these awards, if we are publishing our
CSR activities, what do you have against it?” (Media and Public Relations
Manager)
“I think organisations should just be focused on taking care of the

community but they can’t run away from the fact that they need to get
some publicity out of it. However, if you do it well there will be no need to
make noise about it because the community will make it for you. Overall,
it shouldn’t be a way of promoting the organisation which is what it does
become eventually. But rather, for giving away relevant information to the
public so that it is useful to them.” (Corporate Communications Officer)
The justification for undertaking promotions along with CSR was to ensure that
the bank was delivering on their promise of service delivery quality and also
promoting purposefully to benefit the stakeholders and create a relationship
with customers.
5.3 The Case: Access Bank

Access Bank Ghana Ltd originates from Nigeria and is a fully-licensed
universal bank which entered the Ghanaian market in 2009. Access Bank is a
large bank with subsidiaries across nine sub-Saharan countries. The bank has
a large retail arm with a customer base of approximately 85,000. The bank has
approximately 400 professional staff and about 800 non-professional staff,
some of whom are on contract employment in various roles that are linked to
service operations. As at 2013, the bank operated in seven out of the ten
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regions. It is also a member of Ghana Club 100, and won the “Most Socially
Responsible Bank” in 2010.
Departmental function
The function of CSR in Access Bank Ghana Ltd lies with the Corporate
Communications department, whose lead is Director of Corporate Affairs and
is assisted by the Brand Manager. The Director of Corporate Affairs is part of
the executive team who reports directly to the CEO. The Director of Corporate
Affairs is a journalist with extensive experience in media, specifically radio.
The Brand Manager has extensive experience in a similar role at another bank.
This department’s two main oversights are communications and brand
management, with subdivisions of CSR, events and sponsorship, PR, and
marketing and advertising. The remit of their operations is both external and
internal communications, although the department works closely with the
Human Resources department for internal communications:
“I work with HR for our internal communications, but also external

communications.” (Director, Corporate Affairs)
“...the external environment is where we have 80% of our influence and

where we have five thematic areas which we are involved with. Then,
there is the employee volunteering. So from those two categories you
see a lot of work from our department in activating and implementing
interventions. That’s where most of my role comes in.” (Brand Manager)
In 2013, Access merged with another domestic bank called InterContinental

Bank. However, the merger did not affect the structure of leadership within this
department from the leadership viewpoint. The focus of this department’s
social responsibility - referred to above as the five thematic areas - for the bank
in Ghana is on sustainable community investment in the areas of education,
health, environment, culture and sports. There is also the employee
volunteering programme which allows employees to give their time and
resources to local community projects:
“...we look at five thematic areas of health, education, environment,

culture and sports. Then we have the EVP (Employee Volunteering
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Programme) that’s quite flexible as we let the employees give off their
own time and experience to develop their own projects.”(Brand Manager)
“...thanks to Access Bank for presenting an educative documentary film

to the schools encouraging the children to aspire.” (Letter of
Appreciation, LA Wireless Cluster of Schools, 13/5/2011)
Stakeholders
Access refers to their stakeholders as beneficiaries. Stakeholders come in
different categories of beneficiaries, and the researcher makes an assumption
as to what type Access refers to based on the nature of their relationships as
described by the bank.
Secondly, the description of their stakeholders seems very much determined

by location, which justifies the notion of community of place as being part of
Access’ stakeholders:
“Our stakeholders are mostly communities, businesses, the government,

NGOs, and anybody within our immediate environment who could be
impacted by our investment, by our talent and skills, by our time and our
efforts are a beneficiary.” (Director, Corporate Affairs)
However, the suggested passivity of stakeholders as indicated by the bank

refers to the individual stakeholders only, whereas, the data suggests that the
organisation or institutional stakeholders are more active in working closely
with the bank and contribute to the process of value creation in the community
and therefore seen as legitimate influencers in the community (Freeman,
1984):
“If you look at the football there, it’s an “Alive & Kicking” campaign by a
British NGO, recently registered in Ghana helping disability people get
jobs so they are trained to make handmade footballs. Typically, with an
organisation like that our interests will be to support their cause which is
giving skills and jobs to people with disabilities, and that will benefit the
community.” (Director, Corporate Affairs)
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Thus, organisations partnering with the bank to make a positive difference in
the community have the license to execute their community projects.
CSR approach
Access bank has a corporate-wide CSR agenda across the sub-Saharan
region which is adapted to the local environment of the country it is located in:
“It is consistent across the whole region, although our CSR policy is
adapted to the specific country’s needs... whilst we have a big corporate
responsibility agenda bank wide, we also look at the local communities
where our branches are located and identify needs that are within our
CSR agenda and then support the communities.” (Director, Corporate
Affairs)
“We have a commitment to invest in Access’ operating environment.”

(Letter of Commitment, Access Bank, 30/11/2010)
The aim of the bank is to localise the corporate agenda to meet specific needs
of the communities as well as implement projects that will improve and support
the environment in which the bank operates.
Community Relations
In order to achieve a wealthy operating environment, the mainstay of CSR at
Access Bank is on investing and delivering long-term community projects
which the bank believes is what makes it a successful business:
“...we believe in delivering sustainable community investments and

sustainable environments as it is based on this that our business is able
to thrive.” (Director, Corporate Affairs)
The secondary data depicts a couple of projects which support social

inclusiveness, entrepreneurship and longevity of projects from funding and
management viewpoint, for example, delivery of the IFC fund which helps
women set up and ran their own businesses to support their families:
“Introducing Access Bank to Ghana...bringing with it an International

Finance Corporation (IFC) fund for development of women
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entrepreneurs.... upholding Access’ ethical standards”. (Finance
Intelligence, 30/08/2009)
The support of women in building and sustaining successful businesses

contribute to a healthy trading environment meaning potential additional
clients for the bank. In addition, the bank insists on taking internal responsibility
seriously – specifically in terms of business operations and employee welfare.
Their internal responsibility is undertaken in conjunction with the Human
Resources department and supported by managers from both departments.
Employee welfare is discussed further on. It is interesting to note that they
categorically claim to have moved on from donations and contributions for
press coverage:
“In Ghana, we typically make a donation and use it as a photo opportunity

for the press – that’s the easy way to go about it but for us, CSR has
gone beyond that. CSR in Access Bank even goes beyond community
investment. We have moved into the realm of responsible business
practice – in terms of internal and external projects.” (Brand Manager)
According to the bank, one of the ways to nurture a sustainable community

investment is about providing a combination of financial and human resources
and typically through employee volunteering:
“...for example, if we were supporting a school needing a computer lab,

we would provide funding to cover the cost of build or refurbishment, and
purchase of computers. Additionally, we will provide staff volunteers to
teach the children how to use the computers, and mentor them so that
we are not just throwing computers at them but also helping to build them
up and have conversations with them to aspire to be what they should
be. So we go beyond throwing money at a project – there is more human
involvement.” (Director, Corporate Affairs)
Although responsible business practices are mentioned, there is no evidence

in the secondary data to support how it has been implemented.
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Employee welfare
The employee welfare implies various services, benefits facilities such as
working conditions, medical insurance, allowances offered to employees by
the employer which may be in both cash and/or kind.
“....they are committed to improve the quality of life for employees and
local communities.” (All Sport, 8/12/2009)
Internal CSR practice is done in conjunction with the HR department and is

mainly focused on capacity building. Employees are also recognised by the
bank annually for their good work:
“We do a lot of internal training as well which the HR department

organises. Then we have elearning where employees do courses online
at their own time. We have awards to recognise people for their
contribution to business. Anytime we have a Customer Service Award as
a bank, we also award staff. There is also the Chief Operating Officer
Awards at the Group level where all subsidiaries nominate people for
...and are awarded at the corporate HQ.” (Director, Corporate Affairs)
[COO = Chief Operating Officer]
Employee volunteering programmes (EVP) are the main type of CSR practice
Access uses to reach its communities. This allows employees the flexibility
and autonomy of adapting and creating projects to specific and different local
needs within the themes that the bank focuses on, that is, from donations and
contributions to skills training:
“Access renovates two school blocks as part of Employee Volunteer

Programme (EVP) 2010.” (Letter of Gratitude, Association of Local
Schools – LA Wireless Cluster of Local Schools, 21/02/2011)
Due to the increase in size of the bank based on the recent merger with
InterContinental Bank, EVPs are formed according to one or more branch
clusters in catchment areas depending on the size of these clusters in a
particular area. The rationale for these clusters is to ensure that the specific
local needs of the areas are met:
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“We have branch clusters for our EVPs, so for instance, we have a
branch in Osu-Oxford, another in Osu-Watson, etc. – they form one
cluster in the Osu area and they take care of EVP specific to the area’s
needs. In HQ, there are quite a few of us so are divided into three EVP
groups that deal with different issues... In Accra only, we have 14
different EVP groups now.” (Director, Corporate Affairs)
The decision-making process on choice of CSR project to be undertaken by

each cluster is made unanimously by the group within the scope of the bank’s
CSR agenda:
“For instance, in my EVP group we may have different ideas. An EVP

member will visit the different locations to identify where there will be the
most impact and we discuss them, write a proposal, and based on our
review, we select one project that the whole team supports financially
and work on.” (Director, Corporate Affairs)
However, although the EVP group select a relevant project for their
community, the final decision of what project is actually implemented, still
comes from top management:
“Executive management are mostly involved in the decision-making

process.” (Brand Manager)
In most of the EVP projects the employees were required to contribute their
personal funds to support these local projects:
“Access undertakes two volunteer projects. One involving providing

Christmas gifts to children and the aged with food and drinks; and the
second involving refurbishing two school buildings... both projects were
valued at GHS8,000 which was raised by personal donations from 26
employees.” (Joyonline.com, 5/1/2011)
“I was just sharing with a journalist a recent project we had completed

with one of our EVP clusters. We put money together towards registering
the children in the area for free healthcare.” (Director, Corporate Affairs)
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When asked what they prioritise as their CSR responsibilities, management
expressed ethical and philanthropic were equally fundamental to the success
of the bank from a business development viewpoint and in terms of having a
competitive edge in the market. The bank’s ethical stance stems from its
involvement in community investment through its EVPs, which they believe
has positive implications on the public’s perception of the bank. Access felt
that given the events in the banking sector abroad which led to a recession in
the world economy, these two priorities were essential in being socially
responsible:
“...ethical and philanthropy will probably take the centre stage because
customers will buy our products if they know that we are a socially
responsible organisation. It provides a competitive edge for us aside from
the products we offer to our customers.” (Brand Manager)
The next priority was the legal responsibility. Access was particularly keen to
ensure that its business operations and risk management adhered to the legal
requirements of the country in order to avoid any crisis and sustain the
business and its brand:
“The legal aspect I think covers areas around risk management –

operational and social risks - within our business operations to avoid a
commercial crisis. So risk management needs to be robust in our
organisation and it’s important for a sustainable business and brand.”
(Brand Manager)

One manager indicated that the bank’s focus on education invariably meant
that their CSR projects should incorporate the welfare of the youth in particular,
as young people are the majority target audience in this sector.
“Youth. This may be linked with education because we can’t discuss the
youth without looking at education. And technology...if we don’t move
quickly, we will be far behind in terms of ICT so we need to partner more
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with organisations that are in the industry to improve our use of
technology.” (Brand Manager)
There is also the acknowledgement of information technology as significant to

how CSR evolves within the bank and in the banking sector. Indeed, the
manager is concerned that if the bank is not proactive in this area, then it will
be detrimental to the success of the bank as a whole and its development in
CSR in particular. It is interesting to note that they see partnerships with IT
organisations as the way forward in developing a timely infrastructure. It is
interesting to note that Access, given that it is a bigger bank, has concerns
about its technological ability, as it is expected that this IT infrastructure would
have been up to requirement, considering how wide the bank’s operations are:
“Technology. If we don’t move quickly, we will be far behind in terms of

ICT so we need to partner more with organisations that are experts in the
industry to improve our use of technology.” (Brand Manager)

Access bank sees CSR as one of the factors or ways in which the brand is
positioned in the market place:
“Our vision is to be the most respected bank in Ghana in terms of

financial performance but also in terms of positioning in the market. So
our CSR feeds into that because whatever we do positions us.” (Director,
Corporate Affairs)
Access Bank firmly believes that it is perceived by the Ghanaian market as a

foreign or non-Ghanaian bank due to its Nigerian origin. Its goal is to be
accepted in the community involves relating with the community in a way that
benefits both the community and the bank. Whilst the community benefits from
investment and development from the bank, the bank in turn benefits from a
positive perception, along with a competitive edge:
“Typically, we are considered as a foreign bank or non-Ghanaian, and so

how do we get acceptance in a community so that they know that we’re
not just here to take away their profit but to see how some of those profits
are invested in their lives. It is a win-win situation... If we work in an
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environment where the community looks at us positively, when they have
to make a choice of where to put their money and deposits, we’re
predisposed because they know that we’re helpful in the community, or
that we’ve created an employment opportunity for someone’s child.”
(Director, Corporate Affairs)
Access’ corporate reputation refers to the distinctive attributes of the bank.

Typically, these attributes are reflective of the way in which Access uses its
financial and human resources for CSR to set itself apart from the competition.
In order to communicate across the banks’ branches, an internal newsletter

publishes the EVP activities and achievements and distributes in the various
branch clusters:
“We need a lot of buy-in from our stakeholders, we need awareness-

creation because that’s the only way they can see what we’re doing, and
that’s the only way we can get support from other institutions. So, we like
to engage and promote the programmes so that we can get goodwill from
the communities...We share across the various EVPs too. We publish in
our internal newsletter.” (Brand Manager)
The bank recognises the importance of communicating both internally and

externally to the organisation for the purposes of raising awareness of their
activities within the communities and also to encourage employees to take
ownership of developing and executing the community projects. The outcome
Access hopes to achieve from this is to get buy-in, not only from the individuals
but also the organisations within the communities.
5.4 The Case: Fidelity Bank

Fidelity Bank started as a discount house – Fidelity Discount House – in 1998,
offering investment opportunities such as certificated of deposits and treasury
bills to customers. In 2006, it was granted a universal banking license to
operate as such, with 45 branches (by 2013, according to the interview data)
across nine regions in Ghana. Fidelity has evolved from a 40-staff discount
house to 1,497 employees, comprising approximately 1,000 permanent staff
and approximately 500 agency or contract-based staff, the latter called Fidelity
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Services Ambassadors (FSAs). The FSAs are largely responsible for business
development and new accounts, and are paid a fixed salary plus commission
dependent on the amount of business delivered.
The mission of Fidelity Bank was to be one of the top five banks in Ghana by
December 2014, based on all key performing indicators and anchored on three
key pillars – “our people, services and processes and return to stakeholders”.
Over the last four years, Fidelity has been recognised for its achievements and
won awards as the best growing bank in Ghana. It was indicated that Fidelity
has a particularly young employee base with the average age group below 40
years, which apparently adds to the bank’s culture of agility and growth:
“Our employees are very young, with 90% of the people in Fidelity about
35 years. Those of us who are 40 years and above are a minority. We
have a very youthful group of employees. So we want to capitalise on
our youth to change things.” (Head of Marketing)
It is no surprise that within three years of the researchers’ initial contact with
Fidelity, it has grown from a bank with no CSR strategy to the only bank with
a Director of FI & CSR. The bank turned after-tax profits of in GHS 43.8 million
in 2013, up from GHS 27.7million in 2012, representing a year-on-year annual
increase of 185% (Annual Reports 2012 and 2013). The bank is currently
privately-held with 55 shareholders made up of businesses and individuals,
with 90% of share holdings in Ghana and held by individuals such as the CEO,
Deputy Managing Director, members of the board of directors and some of the
heads of departments. The business shareholders are primarily made up of
investment capital companies and African-Ghanaian companies such as the
Agricultural Development Bank and Social Security and National Insurance
Trust (SSNIT). Fidelity Bank is looking to go public in 2015 on the Ghana Stock
Exchange Market.
Departmental function
Since 2010, there has been some restructuring in the department responsible
for CSR. Initially, the Head of Marketing was the lead on CSR, assisted by the
Brand Manager, both within the Marketing department. In 2013, the
responsibility for CSR was shifted from the Marketing department to a new
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and separate department of Financial Inclusion and CSR (FI & CSR), headed
by a Director, whose direct report is to the Deputy Managing Director. This
new department is based at the Fidelity Headquarters, Accra. At the time of
the interview, the financial-inclusion side of the department was made up of
agency banking, micro-finance and mobile payment services with 100
employees of whom approximately 40 were permanent staff and the rest were
agents or contract staff. The heads of each of these functions report directly
to the Director of FI & CSR. The CSR team was yet to be built; however, there
was expected to be a very close working relationship between the operations
of CSR and Financial Inclusion. According to the Director of FI & CSR, the
reason for Fidelity making this transition is:
“...to focus the bank’s CSR efforts around financial services, which is our
core business.” (Director of FI & CSR)
Secondly, the bank did not think the best fit for CSR was with the Marketing
department because the bank saw CSR positioned more as a business
strategy than a communications tool:
“I don’t think CSR best fits with marketing because then people think it’s
about communications... I think where we place it in the company tells
you what the company thinks about CSR. When it sits under marketing
communications, then you do all the big cheques and photo shoots for
promotion. We have put it under business strategy, because we see it as
a key business strategy. So I think this separation, tells you where Fidelity
wants to see CSR going, and it’ll be interesting to see how this model
works.” (Director of FI & CSR)
It was suggested that the Marketing department was changing to Marketing

Communications department which would handle operations concerning the
corporate reputation of the bank, including corporate affairs, brand
engagement, advertising and internal communications. However, there was
an indication that there would be overlaps in the way the Marketing
Communications and FI & CSR departments worked, as there was a clear
need for the collaboration of these two departments in disseminating the story
around and focus on their CSR initiatives:
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“It’s the story around our CSR that is important, so if we follow our theme
clearly, then a story should emerge. If it’s innovative enough, then the
story must sell.” (Director of FI & CSR)
Stakeholders
When identifying who their stakeholders were, the foremost stakeholder
mentioned was the employee. Fidelity deemed it important to ensure that each
recruit to the bank understood the brand and culture. The next stakeholder
mentioned was the customer who was not only important in the transactional
operations of the bank in terms of being at the receiving end of their service
delivery, but also an essential source of insight into their expectations of the
bank:
“For every single recruit to this company, this department is responsible

for embedding them into the brand and Fidelity culture, so employee is
one stakeholder. The other stakeholder is our customers. In terms of
what we promise to deliver, we have to obviously walk the walk first,
because we have to do things right, before we talk the talk...letting
customers understand what we expect of them as and what they expect
from us.”(Head of Marketing)
Another colleague identified stakeholders as typically those individuals or

organisations who sent in requests for the bank’s support:
“Schools, students, NGOs, aged & orphans, traditional councils, etc.”

(Brand Manager)
The dialogue: engaging with stakeholders

The bank admitted not having any set process or criterion for making decisions
on CSR projects, apart from the fact that the bank prioritises requests that are
relevant in the areas of health, education, and women and children, and
occasionally sports. In any case, decisions were taken at executive
management level regarding which requests to support, and forwarded to the
Marketing department for action. The main point of contact for receiving
requests for community support was the responsibility of the Brand Manager:
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“I’m directly responsible for all requests that come in. These requests,
which we call sponsorships, usually come in two formats – one is the
executive or protocol type which this gets approval before it gets to my
desk. The decision has been made so it’s just a process. There is room
to agree or disagree, but let’s be real – when senior management has
already made the decision there is not much I can do. Then there is the
second format which is on a larger scale, probably about 80%. They are
requests from universities or tertiary institutions, NGOs, churches, etc.
We go through these letters and identify the relevant ones we can assist
with. So my direct responsibility is to review them and if I think that a
couple of them are in line with our criteria, that is, health, education,
women and children, then I advance them to my boss who in turn
advances to the executives to approve for funding. We make the
payment and go through the usual rituals of branding and promotion.”
(Brand Manager)
“...we operate in Ghana where a lot of poverty is seen, especially the lack
of provision in the areas of proper health and education, which means
we will be looking to make a discernible impact in those areas.” (Head of
Marketing)
“...areas of CSR focus being sports, education, social amenities and

health.” (Annual Report 2009)
Fidelity’s approach to identifying CSR opportunities is reactive. There is

nothing much else in terms of how they identify the needs of their stakeholders
and community, apart from waiting for the requests to come. The use of the
word “sponsorship” in this context means providing financial support which is
indicative of the fact that most of the requests require some sort of donation
or contribution from the bank. There also seems to be a relatively high
expectation from the community, considering the frequency and number of
requests that come in which are potentially time-consuming and demanding
on those responsible:
“We receive an average of 5 requests daily, 25 a week. But we have a

system for looking at the applications. When I review it, the rejects are
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transferred to my assistant who then sends off a standard email of regret
to the applicant.” (Brand Manager)
This was reflected in the admission that the bank’s CSR practise was ad hoc,
and that although they had previously brought in a consultant to help them in
strategizing their approach, this had not worked:
“It’s a shame nothing much came out of the consultancy we had and
since then we were virtually thrown back in into the ad hoc way of doing
things.” (Brand Manager)
However, they were still making efforts to move away from this approach and
were quite clear on this: “No more ad hoc stuff.” (Head of Marketing)
CSR approach
Fidelity’s justification for prioritising their social agenda on health and
education was based on the fact that they were areas people spent money
most on. The justification of Fidelity’s social agenda prioritising on health and
education was on the fact that those were the areas people spent money most
on:
“We recognise that we are in a very deprived country and that the
biggest issues are not always around finance. So even if we thought
about it in terms of finance, when people get their cash and have money,
where do they spend their money most? It’s on education, health and
housing. Those are the areas with the big need.” (Director of FI & CSR)
5.4.4.1 Philanthropy to financial inclusion

The analysis of Fidelity’s secondary data proved that all reported CSR
activities up until 2011 were on donations and contributions. This is significant
in the sense that for this bank, this was the only form of CSR practice they
were involved in. That explains why the responses of the discussions in this
case were more geared towards what they intended to do rather than what
they were actually doing. It was an added indication of the transition period the
bank was in, in developing their CSR strategy:
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“In all cases of our CSR activities, we haven’t taken ownership and have
left that to the organisations to take care of the equipment we have
donated. I guess maintenance comes with strategy. When you strategize
to do something, then it is not a one-off, but continuous. But so far, what
we have done has been ad hoc and mainly in terms of cash, and we walk
away.” (Deputy Managing Director)
“...we need to move away from where we go and donate to the New
Horizon Primary School and expect our name in the newspaper the
following morning... we don’t need to do that.” (Head of Marketing)
Also, the described actions brought into question whether the bank’s
philanthropic acts were altruistic and giving back to society or was there an
agenda of wanting to make publicity from the event. Indeed, one manager
described it as a mundane process of going through the “ritual” of photo shoots
and publishing in the newspaper the next day. This indicated a trend whereby
the expectation for each of these events was to create publicity.
Fidelity’s acts of donations and contributions were supported by a combination

of datasets which is evidence of how much giving takes place:
“The bank delivered on social projects such as part-funding and

rehabilitation of water facilities at the Military Academy (worth
GHS50,000)... donated GHS20,000 towards MRI equipment to 37
Military Hospital... donated GHS10,000 to Sports Council for Black
Satellites’ World Cup 2009 win.” (Annual Report 2009)
“Fidelity donates GHS7,000 (including Managing Director, Edward

Effah’s GHS2,000) to New Horizon School to raise awareness of children
living with disabilities, as part of the bank’s CSR.” (Business & Financial
Times, 3/11/2010)
“In the past, we have provided a GHS50,000 water network support to

the Military Academy at the Teshie Camp.” (Deputy Managing Director)
“...we also provided financial support to the 37 Military Hospital to

purchase and install an MRI scanner which was very expensive, but we
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gave them the facility alone at a concessionary rate, and at the same
time gave them GHS20,000 to refurbish the building in which they put
the machine.” (Deputy Managing Director)
Although they suggest most of their giving is on ad hoc basis, there were
instances where their activity was consistent over a period of time and a
relationship had been created:
“We have provided financial aid to the University of Ghana for the past 3
years and have signed a contract up to 2015 to give them GHS72,000
per year so that there is impact.” (Brand Manager)
“Now, what is really going to influence our CSR activities is to create

something that will be very sustainable. We are all tired of running
around, trying to be jack of all trades. We should have a project that we
can track its success to ensure that it’s sustainable, so that we are known
for it, and be in the consideration set against our competition. That’s what
is going to drive the agenda and influence our discussion around CSR –
it must be sustainable.” (Brand Manager)
Fidelity acknowledges the lack of strategy in their current approach to CSR

and is geared towards focusing its CSR efforts on its core business financial
services.
“My general direction is to focus our efforts around financial services,

which is our core business. So the whole drive around CSR nowadays is
to do things that are close to our business in order to make an impact...
to try and have an aligned strategy with core business and meet the
needs of the country in the process.” (Director of FI & CSR)
5.4.4.2 Technology in CSR

Fidelity claims to be the bank that is focused on creating business
opportunities with technology. The bank firmly believes that one of the ways in
which they can capture a larger market share is through their investment in
technology in the bank, which will ultimately help in putting in place the
processes and services to reach the unbanked. Recent investment in
technology made by Fidelity asserts their support of using technology:
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“We’ve invested heavily in IT. We’ve just operated our state of the art
data centre, which was done in collaboration with IBM – trying to integrate
the various terminals which the customer uses, that is, internet, mobile,
etc. We are rolling out an initiative called Agency Banking which is
targeted at the lower end of the market – the mass group of people who
are the street hawkers, the market women – you know about 68% of the
Ghanaian population is unbanked – that’s where the money is. This
market is lucrative, so we’re going there with our agency banking which
is basically, our bank being available at street corners everywhere.
Maybe, in a pharmacy shop, where we’ll have a point of sale device,
smart chip cards that will function as a “branch” of Fidelity bank. You
know, so a street hawker who trades around that area where the
pharmacy doesn’t have to come to a bank, but with their card, they can
go and top up their money or pay money into their account. And it’s more
accessible to them because some of them are also intimidated by
walking into a branch like this, so we are setting up in areas where they
normally transact and do their commercial activities.” (Head of Marketing)
The investment in technology allows the bank to extend its services to the
hard-to-reach customer, hence the concept of “agency banking”, which takes
the bank to the customer using a point-of-sale (POS) machine. Fidelity’s quest
for alternative revenue streams through its agency banking and use of mobile
network operations, as well as extending its customer base through reaching
the unbanked are likely to prove profitable for the bank in the area of
transaction services and money market activities:
“We are pioneering agency banking in Ghana, which means that shops,
pharmacies, and any retailer can all become banking agents. We give
them a POS machine, and we give customers bank cards and they can
either withdraw or deposit their cash - which means if we are able to do
that and we extend our contact points for the customer then they don’t
always have to see their branch”. (Director of FI &CSR)
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This technological advancement in the bank is linked directly to developing
their CSR strategy on financial inclusion, which the manager in charge
describes repeatedly as a strategy that is “innovative and scalable”:
“The priority is that our CSR projects should be innovative and scalable.”
(Director of FI & CSR)
Fidelity aims to use financial inclusion as a means to draw the unbanked

population into the formal financial system so that they have the opportunity to
access financial services ranging from deposits and payments, savings and
transfers to credit.
Fidelity’s objective in meeting its CSR goal is to use the opportunities provided
by technology to reach Ghana’s unbanked, which not only becomes
economically beneficial to the bank but also aids in increasing the purchasing
power of a lot of people. The point on scalability resonates with the socio-
economic benefits that the bank would like to achieve. The sector of the
Ghanaian population that is most excluded - both socially and financially - is
the lower income segment in urban and rural areas which have smaller
amounts of savings and require smaller levels of credit. The economic benefit
for Fidelity in this customer segment is the gains made in volume. In order to
engage internal stakeholders – employees – in providing innovative ways and
ideas of reaching the said customer segment, an ideation project which
involves a website where employees can present their ideas was created.
“We have a prototype website developed...so we can thrash out a new

CSR strategy for the bank and how we are going to execute it. It is a key
part of how this bank innovates – the innovation will be about how we
bank, and also how we engage with our stakeholders.” (Head of
Marketing)
This ideation project is targeted at employees only, with the hope that they are
able to provide innovative ideas and suggestions on how the bank can improve
their CSR strategy for both the internal and external stakeholders.
“My colleagues say that as a bank we don’t do enough for employees

and the communities that we’re located. So this ideation initiative now
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gives them a platform, so they can make the suggestions on what they
think we should do. And once that takes off, I see it as one of the main
tools to get ideas to prosecute CSR in the bank. (Head of Marketing)
The development of this ideation website gives Fidelity the opportunity to

engage with employees to determine and develop solutions for their welfare
issues in way that has never been done in the bank. It is noteworthy that
although the ideation website was still at its developmental stage, it was
available to all permanent employees and one step towards recognising the
importance of employee welfare as part of CSR strategy within the Ghanaian
bank.
5.4.4.3 Towards sustainable CSR

Consequently, moving away from philanthropy to sustainable projects means
that they would still continue to invest in these areas, but work on projects that
will significantly improve these services for the people:
“...at the moment, one of the key things we have in mind is financial
literacy, because there is a huge need for this in the country. Whatever
we do in the country, whether it’s on health or education is around
needing money, and education in money is really lacking. So that’s one
thing that we want to champion.” (Director of FI & CSR)
“How much are they spending around health? How can we reduce that
expenditure or ensure that the expenditure is giving them better returns.
So even if we worked around health, it would be in that context of how
the investment an individual puts in health will give them a better return
or reduce their cost in accessing health.” (Head of Marketing)
One of the ways in which Fidelity intends to undertake its community relations
projects is primarily through employee volunteerism. Although there has not
been any evidence of activity in this area, the bank sees employee
volunteerism as one of the ways in which they can reach out to the community
at the local level, with the benefits of this relationship in terms of development
for the community and stocks of social capital for the local branch. The bank
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intends to encourage employees to volunteer in areas related to financial
services to meet their goals:
“I’m hoping we can set up a strong employee volunteering programme,

where employees will be allowed to do what they want to do.
Volunteering means we can’t really force them but if they have an
interest, then we can support that activity. We will also definitely
encourage them to volunteer around financial literacy where they can use
their skills and knowledge in the community... defined by what the banks
CSR strategy and around those themes we have chosen. At the end of
the day, we’re trying to improve peoples’ lives through literacy in finance.”
To date, requests from local stakeholders in the rural branch locations have
been side-lined for the more visible, nationally-oriented projects; and although
there is an agreement that the grass-roots issues are important for the bank
to pay attention to, there are concerns with management on how this is tackled
in order to create an impact in the community, as well as fit-into the story-telling
approach of the bank:
“I realised that sponsorship requests from the remote or small villages

were easily being overridden because the value of such requests at
corporate level were seen as a drop in the ocean so best ignored. I
suggested that if we could create a system which sits primarily with the
branches in such a way that they become locally relevant for the request.
For example, if the issue requires community cleaning, the local branch
is better placed to take this up and make an impact, build intimacy, trust,
positive perception and a shared responsibility with the branch manager,
staff and community, no matter how small the giving is.” (Brand Manager)
“The branch level is problematic in the sense that there are small projects
taking place in all these areas with limited budget, and may have very
little impact, as a bank we run the risk of not having a coherent story...
Now the branches themselves can support through volunteering.”
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Due to the economic impact of these so-called small projects of the bank at
local levels, the bank sees employee volunteering as an option to save on
spending, as well as work within the confines of the financial literacy theme.

Fidelity was of the opinion that the economic responsibility of the bank was a
priority in terms of its social responsibility. Unanimously, the economic
responsibility was the foremost priority for the bank. Therefore, if the
stakeholder who is directly involved with the banks’ transactional operations
was taken care of, that is, the customer -then the value of social capital such
as loyalty would be realised. This process was described as a cyclical one,
which benefited both the bank and the customer:
“When we take care of our target customers, we tend to bond with them
and we tend to obtain their loyalty. When we have them locked down,
they want to do business with us, and we make profit out of doing
business with them. So indirectly, we win customer loyalty, they stay with
us for extended periods, we support their businesses, their businesses
grow, and out of that we make more profit.” (Deputy Managing Director)
The other reason for the profitability of the bank being most important was the
fact that money was required to invest in the social agenda of the bank.
Considering that Fidelity had already invested heavily in technology in order
to reach the unbanked in Ghana, was an indication that healthy finances was
paramount for the extension of financial services to the financially excluded
market:
“In order of priority, making of money is high on our list. It is the means
through which we will be able to make an impact. We need to be
increasingly more profitable, because the vision that we have spelt out
for ourselves as a bank, especially on the issue of financial inclusion and
bringing in the unbanked and what it will mean, deploying of technology;
trying to device new and innovative ways of getting them to bank with us
– that costs money. When we make money we can help build a more
financially inclusive banking sector. So, making money is without doubt
the first priority within this bank.” (Head of Marketing)
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There was also integration between the economic and ethical responsibilities
from the viewpoint that the latter was the mode in which to achieve the former.
Fidelity believes that one of the ways the bank gains loyal customers was
through serving the community and giving back to the customers, ultimately
impacting on profitability:
“From what we’ve done and intend to do, our profitability is based on
purely ethical and moral lines. I think to a large extent that is the
motivation, otherwise, probably we’ll not be here as a bank.”(Brand
Manager)
“The reason why I’m putting so much emphasis on our economic

responsibility is that I want to you to understand that it’s not at the
expense of behaving ethically or abiding by the law, but assuming all was
important where making money would help us make an impact. We’re
not about making money at the expense of regulations or ethical
behaviour. I’m very comfortable with our ethical posture, in the sense
that, we are not about making money at the expense of doing what is
right. But I think the posture for management and the way our
departments work together is very much geared towards being careful
we are doing the right thing.” (Head of Marketing)
“Yes, I will rather think ethical responsibility was more of a priority, in the
sense that if we are making so much money from a group of people, it’s
only fair and nice for us to give back to them to meet their needs. So for
instance, we get a fair bit of money from churches, saving and investing
with us. At the end of the year, we give back to them money to help
refurbish their buildings, promote their activities such as conventions.
Similarly, in the communities they have need to build for hospitals,
schools, their kids, and therefore we want to identify with such projects
so we can give back to them.” (Deputy Managing Director)
The legal responsibility of the bank on the other hand was described as a
given. This was an undisputed claim, which was argued from the point of view
that:
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“...our legal responsibility is a given.” (Brand Manager)
“With the legal side of things – whatever we do in this bank, we are not
in any way, shape or form looking to circumvent or ever try and make
money at the expense of obeying the law, which is why in the last 10
months there’s been intensive anti-money laundering (AML) course for
every employee in this bank. It was ordered by the Central Bank but
we’ve been one of the first banks to ensure that everybody is AML
compliant. Even though we want to make money, first we want to be law-
abiding as a bank because our business is about keeping people’s hard-
earned money. Assuming that we take the legal responsibility more
seriously than anything else, and then we think about how creatively
within the law, we can make the most money for this organisation. How
can we deploy our competences and structure product and services that
help us to maximise our return. Once we do that, we will be able to share
the wealth that we have. So, legal and economic responsibilities are on
the same level.” (Head of Marketing)
The issue of philanthropic responsibility of the bank, on the other hand, was
rather contentious as they felt that the bank had unduly been focused on this
type of CSR practice, which no longer fit the future strategy. Fidelity’s aim for
future practice is making significant impact on collective society, as the bank
believes it is the best approach to gain reputation as a socially responsible
organisation:
“...philanthropy is where I think we’ve given our money in a way that, with
hindsight we should have been a little more considered in our approach.
Philanthropy is great, but I think it has been a focus too long and a lot of
resources have gone there. We need to move away from philanthropy
and move towards real sustainable, social investment in creating an
impact. It’s been self-propagating because I think we’ve honoured so
many of those requests, word gets around that if you need funds, go to
Fidelity, and so we want to nip it in the bud... It has been heavily
prioritised but we need to move away from that. The test of our social
credentials as a bank is how we use the wealth that we make and use it
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demonstrably by helping people institutionally and not individually –
demonstrable key CSR issues.” (Head of Marketing)
One manager was not prepared to comment on the banks’ priority where
philanthropic responsibility is concerned while the bank is in transition to more
sustainable practice. Assumptions can, however, be made from the statement
and the prior discussions that philanthropy has been heavily prioritised in the
bank’s CSR practice.
“Like I said, we are moving towards sustainable activities, so I can

comment on that at a later stage.” (Brand Manager)

According to Fidelity, cultural awareness within the organisation is paramount
to having a positive impact in the bank’s CSR practice. The bank believed that
culture was a primary influence on the strategic direction, basing its corporate
theme on the Ghanaian heritage.

Regarding the role that marketing communications play in the CSR practice of
Fidelity.
“Most of the time, depending on the magnitude of the project we publicise

or don’t. Usually, the community level ones we let go... projects that are
for longer term, there is publicity that goes with it.” (Brand Manager)
There were mixed opinions around use of the press on CSR activities,
although there was an acknowledgement that there was a requirement for
CSR publicity:
To date, we’ve made donation and have needed publicity for it. But in as
much as we need people to know the good things we are doing, but these
things so far are not so ground breaking that we should devote attention
to publicising them.... But to date the scale of what we’ve done and
magnitude of publicity that has been sought, for me has been an
imbalance. It doesn’t merit it. We need to use marketing communications
to publicise our achievements, but can’t donate $5,000 to an organisation
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and want three to four days of press coverage. No! We should be using
the columns to publicise really grand things that are sustainable... If we
make a significant impact, the press will notice anyway. (Head of
Marketing)
“We’ve tended to achieve some kind of multiple mileages from our CSR
activities. When we do these things, we like them to be put in the media
for the broader masses to know what we’re doing in order let them know
we are not only here to make money but we care about the communities
in which we operate too. It helps with building the brand Fidelity, and to
that extent, I can say that Fidelity has become one of the leading brands
in the country because of the fact that we have been embarking on some
CSR and people have heard about it because it’s been in the press, and
have won the affection of some people who have then come to do
business with us.” (Deputy Managing Director)
There is a difference in opinion between managers on use of marketing

communications for CSR. One thought that publicising in the media is for the
major activities. Indeed, if done properly the CSR projects in themselves will
attract media attention. This was supported by another manager who sees the
use of media for CSR purposes as capturing and revealing a sustainable story.
However, the Deputy Managing Director stipulates above that every
opportunity to publicise all CSR projects – even the small donations - is
necessary to positively impact the brand perception of Fidelity.
A discussion on impact of CSR on business development is Out of scope of

this study.
5.5 Conclusion
This chapter established the nuances of each case, by interpreting the
different datasets. Various themes and distinctively peculiar issues for each
case were highlighted, explained and discussed. Similarities of their CSR
approaches also emerged from the discussions.
143
Chapter 6 analyses across the cases to make comparisons and determine the
similarities and differences between the cases. This supports firming up the
findings derived from explaining the data in this chapter.
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Table 5.1: Illustrative Evidence: UT Bank
Categories Illustrative Statements
Donations & “Philanthropy is one aspect of CSR we cannot do away with.”
“It’s so important ..., but those we give donations to on an annual basis look
Contributions
forward to it.”
“And we work on social upliftment – which involves donations to our
Orphanages.”
“CSR involvement included…donations and sponsorships that directly
benefit underprivileged sectors.”**
“UT donates GHS270m to charity.”**
Employee volunteering “We engage staff on the road show for our Financial Literacy Programme.”
“Day of caring and staff volunteering at an orphanage...” **
Community activities “We have a major CSR function that takes place every year between April
and May where the team travels around the country to serve our customers
in the communities – it’s called the Financial Interest Programme.”
“We have an entrepreneurial programme for business starters whom we
also give some business grant to do their business and monitor how well
they do.”
“UT sponsors WFO Hunger Walk.”**
“UT commissions a $50,000 unit classroom block for an NGO for the less-
privileged called Family Outreach Ghana.”**
Partnerships with “We also bought a Mobile Screening Unit which we use in the communities
organisations and local in collaboration with Cancer Society of Ghana with GIZ formally GTZ and its
communities based on a 3 year partnership we have with them.”
“Based on these partnerships, we are able to align our CSR to fall in line
with the Millennium Development Goals – 4 of them – maternal health, child
mortality, poverty alleviation and malaria.”
“UT and Enablis Ghana (NGO) launch a competition for entrepreneurs with
good business plans in industry sectors…and provides funding and training
for the winner to start-up.”**
Financial skills training “The key things we have in mind are financial education or financial literacy,
because there is a huge need for this in the country.”
end of 2013. So every community activity and every plan is geared towards
that. In going into the market, we not just training them to keep their books
but also encourage them to save with us as well.”
“It’s also important our CSR is in tandem with our core business practice –
this becomes easier, we have the skills to deliver it and it helps our
business too. Hence, our Financial Literacy Programme.”
“...the major portion of our CSR practice is the FLP, where we even had a
TV programme to cover this – that came in “tit bits” – both on TV and radio.
We have another programme coming up in the Ashanti region in Kumasi
called “Wu sika tisen” (How is your money doing?).”
Influencing reputation “Most of the time yes, we do. That’s why we have so many press cuttings.
Although I haven’t given much publicity to the financial literacy programme
yet – we are waiting until the timing is right.”
** Archival data
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Table 5.2: Illustrative Evidence: Access Bank
Donations & “The bank was the first institution to donate money to the Global Fund – I
think we gave them $1million.”
Contributions
“So for example if we were supporting a school needing a computer lab, we
would provide funding to cover the cost of build or refurbishment, and
purchase of computers.”
“Access provides donation of GHS500 to fund event honouring a Ghanaian
artist who designed the National Coat of Arms – Mr Amon-Kotei.”**
Employee volunteering “We have branch clusters, so for instance, we have a branch in Osu,
Oxford, another in Osu, Watson, etc they form one cluster and they take
care of EVP specific to the area’s needs.”
“In Accra only, we have 14 different EVP groups now.”
“Access renovates two school blocks as part of Employee Volunteer
Programme (EVP) 2010.”**
“A staff volunteer group of 30 employees from Access Bank contribute
GHS5000 to support the project of paying bills for outpatient children at
Korle-Bu Hospital, Accra.”**
Community activities “We want to be the most respected bank in Ghana and Africa. This we
believe will be majorly driven by our commitment to community investment
and CSR”
“Community investment programmes look at 5 thematic areas of health,
education, environment, culture and sports.”
“Sometimes, even our business ideas are driven by our community
projects.”
“Access Bank states commitment to invest in operating environment.”**
“Access spends family day-out with deprived children from Teshie
orphanage, six months after entering the Ghanaian market…they are
committed to improve the quality of life for employees and local
communities.”**
Partnerships with “We invest in building skills so we support Students Unions in universities to
organisations and local support them in building relationships with businesses to provide them with
communities opportunities in internships and placements.”
“That football there is from an “Alive & Kicking” campaign in partnership with
a British NGO, recently registered in Ghana helping disability people get
jobs so they train them to make handmade footballs…”
“Introducing Access Bank to Ghana…bringing with it an International
Finance Corporation (IFC) fund for development of women
entrepreneurs…upholding Access’ ethical standards.”**
Financial skills training “2 years ago, we assembled 120 SMEs and delivered a workshop in
partnership with Friends of Africa – a one day training on how to develop
workplace policies with facilitators from across Africa and Asia.”
“A video featuring a workshop organised by Access Bank, inviting all banks
to participate in training on trading bonds, a new financial product in
Ghana.”**
Internal activities “....they are committed to improve the quality of life for employees and local
communities.”
“We do a lot of internal training as well which the HR department
organises.”
Influencing reputation “Our vision is to be the most respected bank in Ghana in terms of financial
performance but also in terms of positioning in the market. So our CSR
feeds into that because whatever we do positions us.”
** Archival data
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Table 5.3: Illustrative Evidence: Fidelity Bank
Donations & “In the past, we have provided a GHS50,000 water network support to the
Contributions military academy at the Teshie camp.”
“In the past 3 years we have provided financial aid to students of University
of Ghana, and we have signed a contract up to 2015 to give them
GHS72,000 per year.”
“What we also did was to provide financial support to the 37 Military
Hospital to purchase and install an MRI scanner... at the same time gave
them GHS20,000 to refurbish the building in which they installed the
machine.”
rehabilitation of water facilities at the Military Academy…donated
GHS20,000 towards MRI equipment…donated GHS10,000 to Sports
Council for Black Satellites’ World Cup 2009 win.”**
“Fidelity donates to veterans GHS14000 on World Day of Veterans.”**
Employee volunteering “For example, if the issue requires community cleaning, the local branch is
better placed to take this up and make an impact, build intimacy, trust,
staff and community, no matter how small the giving is.”
where they will be allowed to do what they want to do.”
“The volunteering will fit in the financial literacy programme, because that is
key.”
Community activities “My general direction is to focus our efforts of community programmes
around financial services, which is our core business.”
“However, we recognise that we are in a very deprived country... people get
their cash and have money, where do they spend their money most – it’s in
education, in health and in housing. Those are the areas with the big need.
So in terms of the social agenda, that’s where I will focus things on.”
“Fidelity Bank also ends “Go For Gold” six-month campaign, encouraging a
savings culture. Winner got a gold bar valued at GHS73,000.”**
Partnerships with “We are pioneering agency banking in Ghana, which means that shops,
organisations and local pharmacies, retailers, etc can all become banking agents.”
communities “We are working with Care International to use our agency banking model to
reach savings groups, so we can partner with these guys.”
“Co-sponsor of 2008 Scripps Spelling Bee Competition for Junior High
Schools to develop reading habits and literature for kids.”**
Financial skills training “Out of a population 24 million, there are 22 million SIMs in a holistic and
embracing way; this is CCR because the majority of these people are
unbanked. And quite a lot of the unbanked live in conditions of deprivation,
a lot of which is increasingly being resolved at the macro level by the
government, so what’s left for us to do is to take financial inclusion,
knowledge transfer and skills enhancement and capacity building...”
Influencing reputation “Most of the time, depending on the magnitude of the project we publicise or
don’t. Usually, the community level ones we let go... projects that are for
longer term, there is publicity that goes with it.”
** Archival data
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6 Discussion: Across-Case Analysis
6.1 Introduction
This chapter presents discussions from the insight provided in the within-case
analysis of each bank (Kidder, 1992) to generate theory (Gersick, 1988; Harris
& Sutton, 1986). It builds on from Chapter 5 by exploring similarities and
differences across all three cases, and investigating its relationship with
literature.
The approach of purposeful sampling was used to identify cases which confirm
and validate emergent relationships, as well as disconfirm relationships (Miles
& Huberman, 1994; Eisenhardt & Graebner, 2007) enfolding literature along
the process of comparison, which provided an opportunity to extend the theory
of CSR in the context of banking in Ghana. This analysis is supported by Yin
(2009) who proposed a theoretical framework is used to study one case in
depth and the successive cases are examined to see if there are matches
and/or patterns that are theoretically weaker or absent. Secondly, Yin (2009)
recommended that analyses of case studies include chains of evidence that
enhance the understanding of external observers on how conclusions were
derived from the case data. Therefore, Table 4.5 indicates the evidence from
the interviews and archival data for each of the first-order codes. The table
also displays only elements that were corroborated by at least two archival
sources and/or three interviews from at least two of the cases. Although there
were some variations in the cases which are indicated, the focus was on
commonalities among them to determine what was most necessary for
accomplishing the outcomes.
This research set out to use a multiple case study approach to meet the
following objectives:

Ghana.

in Ghana.
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6.2 Discussion of themes

All data was analysed using procedures recommended by Strauss and Corbin
(1998) and Miles and Huberman (1994).
The initial archival data collected was analysed inductively, adhering closely
to the guidelines specified for interpretive enquiry (Miles and Huberman,1994)
to obtain historical reference points for their CSR practices and constant
comparison techniques were used (Glaser & Strauss, 1967; Strauss & Corbin,
1990). These approaches provided the basis for rigorous analysis of data to
determine the content foci for the interview data collection. In addition, they
provided the basis for delineating first-order and second-order themes, and
aggregate dimensions as evidence is demonstrated in Table 4.5 through the
examination and comparison of key practices and events (Isabella, 1990).
Along with developing first-order categories with support from literature, links
emerged among these categories which enabled the collapse of the first-order
categories into clusters of theoretically distinct concepts or second-order
theoretical categories. These second-order themes were developed into
aggregate and overarching dimensions which contributed to the final
theoretical framework which linked the various phenomena that emerged from
the data.
The first-order analysis was conducted using a manual inductive content

analysis technique to discover themes and patterns of events and activities
reported to have occurred in the secondary data. The researcher’s particular
focus was mainly on statements that explained the banks’ nature of activity.
Although historical timelines were not essential for when these events and
activities occurred, it is interesting to note the incremental nature of the
occurrences as the years went by. This is an indication of increase in CSR
practice over time. A list of first-order codes was inductively created with
clusters or groups reflecting the same or similar meanings.
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6.3 CSR in the Ghanaian context
Due to the range of definitions and terminologies of CSR in different contexts
(O’Riordan & Fairbass, 2008), CSR has sometimes been a controversial issue
between business managers and stakeholders. While certain fundamentals
remain the same, CSR issues vary in nature and importance across different
industries, economic regions and locations (Atugaba & Dowuona-Hammond,
2006) and, hence, it was necessary to establish its meaning in the Ghanaian
context. Although the data reflected some differences in the notions of the
meaning of CSR, there was an underlying theme that seemed to run through
all the explanations. This was the act of “giving back” to society. There was
the recognition that the organisation entity was set up to make profit, and this
was heavily dependent on their relationship with society being built on the
concept of ‘giving back’, thus, making it beneficial to both parties:
“CSR is a win-win situation. Our organisation is set up to make profit

before getting involved in CSR. But at the same time, it doesn’t operate
in isolation but within a community, so once our work impacts the
community we need to make some profit.... it’s not just about our profits
but allocating budget for other functions, the same is done for CSR
regardless of whether we make profit or not.” (Corporate
Communications Manager, UT Bank)
Recognising a win-win situation involves CSR interventions with outcomes

that mainly reconcile the interests of the bank and that of one or more of their
stakeholders. According to the literature, the fundamental basis of CSR is that
businesses have an obligation to work towards the needs of the broader range
of stakeholders (Clarkson, 1995; Waddock et al, 2002). A report by The World
Business Council for Sustainable Development (WBCSD) – Making Good
Business Sense – defines CSR as the “continuing commitment by business to
behave ethically and contribute to economic development while improving the
quality of life of the workforce and their families as well as of the local
community and society at large” (WBCSD, 2001, p.8). Therefore, whilst it is
important that CSR interventions contribute to the specific welfare of the
stakeholders, it should also develop the economic and business environment
of the banks. More generally, CSR is a set of management practices that
150
ensure the company maximises the positive impacts of its operations on
society. The understanding of CSR by all three banks referred to a
commitment to giving which seemed anchored in the context of a required
action for the success of the business. This was not only evident in the
managers’ worldviews on CSR but also in the secondary data.
CSR in the Ghanaian context is therefore largely understood to comprise

contributions of money, resources and time which are not necessarily aligned
with the core business operations but actively participated in by the banks,
albeit mostly in an ad hoc manner. It is noteworthy that although the process
of giving seems ad hoc, it is an essential practice based on the high cultural
expectations of society which stem from culture. This contradicts research by
Imani Development (2009) which describes the act of giving by businesses as
rather an “add-on” and peripheral function. The banks make mention of moving
away from ad hoc contributions to long-term, strategic planning, although
evidence from secondary data showed mostly acts or events of giving. The
purposes are therefore very clear in meeting community expectations as well
as using CSR interventions as a tool for publicity and building the image and
reputation of the company.
The link between social responsibilities and the marketing functions of the
banks draws semblance with the 1960s notion of CSR which established the
relationship between societal needs and marketing function. This notion has
been readdressed and developed more recently in 2000s (for example, Baron
2000). The lack of exclusive department for the CSR function partly explains
the nature of the interventions. It seems contradictory that as important as the
banks claim CSR is, the function is not separate with dedicated resources.
Only one out of the three banks had a CSR department, which was in the
process of setting up a team with a newly appointed Director of CSR &
Financial Inclusion. CSR operations were placed differently in the
organisational structure of each bank: UT within Media and Public Relations
department; Access within Corporate Affairs Department; and Fidelity within
Marketing Communications Department. Although it is worth noting an attempt
to reposition CSR within existing departments, perhaps, it was a move towards
a more focused and strategic approach to help understand their stakeholders
151
and communities (Freeman & McVea, 2002). This meant that CSR was only
one of the various responsibilities of the manager. In all cases, the context
reflects the use of CSR for the purpose of communications and publicity. CSR
is used in this context which is for the purpose of communications and
publicity. The situation of CSR within the various departmental functions also
gives an indication of the relevance placed on this function to its stakeholders:
“I have oversight and am responsible for brand management,

advertising, media relations, CSR, and events management.... This
department is responsible for developing the CSR agenda.” (Brand
Manager, Access Bank)
“Responsibility of our CSR agenda lays basically with us the marketing

team, spearheaded by head of marketing.” (Brand Manager, Fidelity
Bank)
“Strategically, we’re to manage the corporate reputation of the company.

This involves media relations, and being responsible for all media issues.
Secondly, we find ways of building relationships with other stakeholders,
developing and improving our website to ensure that we have a good
exposure out there. The next major thing is CSR which has become key
in what we do. And we’re also responsible for internal communications.”
(Media & Public Relations Manager, UT Bank)
According to Flores (2001), reasons for CSR being a function of marketing,

corporate affairs or public relations are because these departments are
responsible for dealings with the organisation’s various stakeholders, including
defining, implementing and reporting on the impact of social activities on them.
The location of CSR operations indicated its close link to the function of
communication. Discussions on the use of CSR for external communications
purposes will be discussed in more detail. Whereas CSR was implemented
mostly as the act of giving, managers indicated that they were looking to move
to more strategic interventions, which reflected sustainable financial benefits
to the business as well as accountability to its shareholders:
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“CSR in Access Bank goes beyond to community investment. In Ghana,
we typically make a donation and use it as a photo opportunity for the
press – that’s the easy way to go about it but for us CSR has gone
beyond that. We have moved into the realm of responsible business
practice – in terms of internal and external projects.” (Brand Manager,
Access Bank)
Access Bank stressed clearly their CSR practice was also focused on
responsible business practice, as well as developing business ideas that
support the community:
“We believe in delivering sustainable community investment, and

sustainable environment as it is based on this that our business is able
to thrive...sometimes, even our business ideas are driven by our
community.” (Corporate Affairs Director, Access Bank)
Indeed, the bank that had appointed a Director of CSR & FI was already
moving in this direction, using “financial inclusion” as the basis to do so. This
is aligned with the core of the CSR debate that organisations should transition
from a state of mere compliance to a mode of engagement in order to create
value (Leutkenhorst, 2004; Novak, 1996). This involves social responsibility
that is aligned with the long-term commercial interest of the bank. However,
there was only a little indication from the existing evidence that the move
towards CSR contributing to the core business operations was product and
service related. Access Bank showed evidence of improving their operating
environment through industry-related training. This was an industry-focused
event held in June, 2010 – a workshop organised by Access Bank for all banks
in Ghana to participate in the training of trading in bonds at secondary level.
In order for the bank to tap into this business opportunity and facilitate its
challenging operating process, Access found it necessary to get competitors
trained for the product to be successful in the marketplace. Fidelity on the other
hand was just at the beginning of this journey – the infant and developmental
stages of agency banking, which is a new addition to their core business.

which is our core business. So rather than go off and build schools... they
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are all great, to try and have an aligned strategy with core business and
meet the needs of the country in the process... At the end of the day,
we’re trying to improve peoples’ lives through literacy in finance.”
(Director of CSR, Fidelity Bank)
Currently there is a significant population of the country which is unbanked.

According to the Ghana Banking Survey 2011 by PricewaterCoopers (PWC),
the unbanked population of Ghana remained over 80%. Thus, the
development of agency banking would support inclusiveness as well as
business development. According to Schwab (2008), pioneering organisations
integrate social initiatives into their core activities by actively channelling their
research and development capabilities towards socially innovative products
and services – Fidelity evidenced moving in this direction.
UT also indicated a similar stance on inclusiveness with the banks focus on

financial literacy. The purpose of the financial literacy programme is to equip
individuals and small business with the know-how to handle their finances.
“So we have moved from philanthropy where we have focused on giving,

to doing more impactful things which also has a business connotation.
For instance, the financial programmes we do...” (Media & Public
Relations Manager, UT Bank)
The move towards sustainable CSR interventions could potentially create a

strong competitive position for a bank. According to Porter and van der Linde
(2000, p.131), CSR can be considered as a strong competitive driver that
requires appropriate resources. Although, some of the giving can be
considered as largely altruistic, and in some cases they have been relevant
for publicity and economic development. For example, in those cases where
there has been dependence on society for commercial benefits. A significant
number of UT shareholders are market traders, who are also their current and
potential customers. It is therefore in the interest of these traders and UT that
they support each other. This peculiar relationship of UT with customers and
shareholders also provides an opportunity for competitive advantage.
154
end of 2013. So every activity and every plan is geared towards that. In
going into the market, we are not just training these traders to keep their
books but also encouraging them to save with us.” (Media & Public
According to the above context, the nature of giving has to be strategic to make
business sense. This is supported by Vaughn (1999), who believes this
ensures that the investment allocated by the business yields financial returns.
According to the PwC Ghana Banking Survey Report (2010), the growth of the
Ghanaian economy can only be sustainable if local businesses in the financial
sector align their business activities with the local market and global trends.
This alignment will fuel their ability to make a significant impact in converting
the informal sector of the economy and the unbanked sector of the population
which remain at approximately 71% (PwC Ghana Banking Survey Report,
2010) and enable banks to sustain their growth in the long term. To perform
requires banks to identify and focus on alternative revenue streams, transform
customer segmentation, risk management, robust management information
systems and human capital. The challenge however for these Ghanaian banks
is to identify interventions that allow them to reconcile the interests of the
banks with those of one or more of their stakeholder groups. There are
similarities and overlaps in the sectors that the banks have chosen to work in
based on the obvious need in society. These sectors – health, education,
women and children, sports, and the arts – have been identified as where the
society has the greatest needs, hence where CSR should be focused. In all
cases, health and education are priorities:
“We draw up the CSR strategy for the year to focus on specific themes,
e.g. on health, education, etc.” (Brand Manager, Access Bank)
“Our CSR strategy is focused on education, health, sports and …so

whilst we have a big corporate brand, we also look at the local
communities where our branches are located and identify needs within
our CSR areas and then support the communities.” (Corporate Affairs
Director, Access Bank)
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“So my direct responsibility is to review these requests on regular basis
and if I think that a couple of them are in line with our criteria i.e. health,
education, women and children... we’ve always tried to work within
certain themes. Whatever we’ve done fall under the themes of education,
health, women & children. There’ve been a few occasions when we’ve
gone out of these themes to do sports, and one or two other things that
are not directly under our main themes.” (Brand Manager, Fidelity Bank)
“Education and health – and it’s also important that our CSR is in tandem
with our core business practice because we have the skills to deliver and
it helps our business too.” (Corporate Communications Officer, UT Bank)
High expectations from society, as well as the banks’ requirements to

contribute to society partly stems from the sub-Saharan African extended
family-system, reinforced by a collective approach to problem-solving within a
strong “village” community (Phillips, 2006). This makes social responsibility as
a concept inherent in the culture of Ghanaian society. It is a concept well
known as “good will” and adds to the notion of banks being good corporate
citizens, thus creating a positive perception of themselves. The banks’
spending on social issues, however, seems to be linked closely with a
decision-making process that is dependent on individual top managers’
response to demand. For example, there do not seem to be clear criteria for
selection of projects or requests that come in from individuals or organisations.
As such some CSR choices are dependent on who is known or who comes to
the door first and is backed by the individual manager’s interests albeit loosely
influenced by what the bank deems as necessary to explore. According to the
literature, top managers use philanthropy to boost personal reputation and to
advance their careers (Galaskiewicz, 1997; Haley, 1991). There is also an
additional element of creating a positive impact on the community. This
indicates that the process is not driven by any policy.
If the decision-making is not strictly driven by policy and process criteria, then
one is therefore led to question what is most important for stakeholders in this
developing society. What are the stakeholder values that allow these banks to
make choices on the area and type of CSR? What does the stakeholder care
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about that makes them grateful and recognise the value of the banks’ social
actions in these sectors? And, to what extent are CSR practices of the banks
influenced by the local context? In an attempt to answer these questions, what
is clear from the data is that it does not present any indication of a formal,
comprehensive dialogue between banks and stakeholders to establish needs
that have to be met through CSR. However, personal networks of top
managers, letters of requests from individuals and organisations in the
community, as well as partnerships with non-profit organisations all contribute
to identifying who their stakeholders are, what their needs may be and how
the banks can meet them.
A review of literature over the decades indicate that the term ‘stakeholder’
refers to all those who have an interest in an organisation without whose
support the organisation cannot survive and can substantially affect the
welfare of the firm. (Freeman, 1984; Clarkson, 1995; Midgley, 2000; Bevir &
O'Brien, 2001; Post et al, 2002; Nicholson & Kitchen, 2007). Mitchell et al
(1997, p.852) lists stakeholders as:
“...primary and secondary stakeholders; as owners and non-owners of

the firm; as owners of capital or owners of less tangible assets; as actors
or those acted upon; as those existing in a voluntary or involuntary
relationship with the firm; as rights holders, contractors, and moral
claimants; as resource providers to or dependents of the firm; as risk
takers or influencers; and as legal; principles to whom the agent-
managers bear a fiduciary duty.”
Freeman (1984) alludes to primary stakeholders in the strict sense to include:
“...all individuals or groups who can substantially affect the welfare of the
firm, including not only financial claimants, but also employees,
customers, communities, governmental officials, and, under some
interpretations, the environment, terrorists, blackmailers, and thieves.”
It is noteworthy that Clarkson (1995) and Freeman (1984), in their definitions

of stakeholders, both focus on the ‘power’ of stakeholders, which is referred to
as strategic stakeholders, and the high degree of involvement in the
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organisation’s life. Additionally, the lists of stakeholders include groups not
necessarily linked exclusively by an economic relationship with the firm.
Clarkson argues that secondary stakeholders on the other hand, are not
essential for the survival of the firm and do not directly influence it.
Nevertheless, there are potential overlaps between these two groups of
stakeholders which should not be taken for granted.
According to the data, the stakeholders identified by the managers are

classified as primary stakeholders: those that the banks rely on for their
survival. For example, a large percentage of UT customers are also
shareholders, which indicates that UT relies on this cluster of community not
only for business development but also for financial investment. This refutes
the claims of Friedman (1970) and Lantos (2001) as the bank’s financial
resources are used for the welfare of those who have also invested in the
bank. However, arguably, the individual shareholders, as mentioned by UT as
mainly market traders, may not be particularly wealthy and could be counting
on the profit stream from the banks for future private needs (Trevino & Nelson,
1999). This overlap in stakeholder categories is similar to the other cases,
perhaps in a less formal way, where the banks acknowledge that the local
community is essential to their customer base – Fidelity admits reliance on
community involvement to support the business development of some of the
more rural branches. According to McDonald and Rundle-Thiele (2008),
effective CSR practices by businesses raise the level of satisfaction of bank
customers. Similarly, corporate performance is arguably enhanced through
active engagement of key stakeholders (Miles et al, 2006).
Investigating the stakeholder perspective of the banks is out of scope of this

study, thus, the researcher is unable to verify and confirm whether the banks’
involvements in the communities contribute to the decision-making on where
to bank. Additionally, there is a level of influence on deciding what CSR project
to undertake based on the requests made by stakeholders. As stated by some
managers, these requests are from individuals and organisations, and
primarily range across educational and health needs. Thus, there is a strong
focus on CSR decisions being influenced by stakeholder requests instead of
an open dialogue to fully understand needs. Waddock (2001) argues that
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businesses are progressively moving toward engagement strategies focused
upon processes of mutual responsibility, information-sharing, open and
respectful dialogue and an on-going commitment to problem-solving. This
statement is made in the context of developed countries and is not necessarily
fully realised in the developing economy context. Within the last decade, the
local government has struggled to maintain consistent growth and meet the
literacy and welfare needs of the Ghanaian communities which explain the
focus of societal expectations.
The motivations for CSR by the banks arguably come from the failures of the
Ghanaian government, hence, fundamental areas like education and health
priority obligation for all three banks. In Ghana, the national literacy rate of
adults (15years+) is 53.4%, which is well below the developed world’s average
of over 90% (Ghana Statistical Service/World Bank: Core Welfare Indicator
Survey, 2003). The Ghanaian government public spend on education as a
percentage of the country’s Gross National Product (GNP) increased by just
over 1% between 1999 and 2010, which is also below the overall sub-Saharan
average of a 5% increase (UNESCO: Youth and Skills Report, 2012, p.142).
The government expenditure on health as a percentage of Ghana’s total
government expenditure was 4.4% in 2006, a reduction from 10.8% in 2000
(WHO: World Health Statistics, 2009). According to an International Monetary
Fund (IMF) report, social concerns such as education, health, employment,
productivity, social protection and poverty reduction are indicative of major
socio-economic challenges to Ghana, therefore putting pressure on the private
organisations to find solutions to these problems in order to accelerate national
development efforts aimed at achieving growth and social equity (National
Development Planning Commission: Ghana Shared Growth & Development
Agenda, 2010-2013). There is no doubt that one of the main ways to achieve
this is via the acquisition and application of knowledge and skills through CSR.
These obligations for the banks are a marked contrast to what is considered
by businesses in the developed-country context.
Given the scale of needs and stakeholder expectations, it is not surprising that
these domestic banks are paying attention to education, health and the
economic welfare of the society through CSR activities, which explains the
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focus on similar sectors in the economy. CSR activities in the area of arts and
culture, which primarily refers to the sponsorship of music festivals, beauty
pageants and the like, are also implemented as CSR but there is indication
from the banks that these sponsorships although providing brand exposure
are deemed by the bank as not being very useful in meeting real community
needs. Indeed, it is worth questioning whether these so-called sponsorships
fall under the concept of CSR.
The overall perception of CSR from the three cases regards the notion of
philanthropy as a core CSR practice, which is in contrast with the Western/
European debate pioneered by researchers such as Kotler and Lee (2005)
and Carroll and Shabana (2010), who refer to the essence of CSR as
philanthropic obligations through discretionary business practices and
contributions. The banks recognise a social obligation which extends beyond
creating value or profit and is in alignment with some of the definitions of CSR.
This obligation is in direct relation to accountability to non-investor
stakeholders or those other than shareholders such as the community (Fitch
& Surma, 2006). These banks are expected to actively assist their local
communities within the sectors that have been identified. This expectation is
supported by the research by the World Business Council for Sustainable
Development (WBCSD, 2000) in which when asked how CSR should be
defined, Ghanaians stressed local community issues such as “building local
capacity” and ”filling in where government falls short”. Solutions to issues
where the government has fallen short have primarily been through
philanthropic activities, guided by traditional obligations of the banks in the
absence of the government. Incidentally, one of the issues that were discussed
by the banks in terms of the future focus of CSR activities was on building
capacity among young people.
The view of CSR across the banks is similar. In an attempt to understand CSR
in the Ghanaian context, the fundamental priority and position of the banks is
to be profitable and provide adequate attractive returns to shareholders.
However, one of the main contributors to the success of the banks is their CSR
practice which creates not only a good perception of the banks but also
positively impacts on their business development and subsequently their
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profits. Additionally, the high expectations from society placed on the banks to
support and solve their issues have given these banks little option but to
comply. These expectations from society and obligations on banks stem from
the national culture which also has an influence on organisational culture.
Therefore, it is fair to conclude that CSR is a localised and socially-embedded
concept heavily driven by the cultural perspective of the community to
influence the ideas, issues addressed and mode of CSR interventions the
banks use to respond to their social and economic environment.
Philanthropy: the act of giving

The act of giving from the data manifested itself in three distinct categories:
giving money, giving resources and giving employee time and skills, which is
in line with Kotler and Lee’s (2005) definition of corporate philanthropy as a
direct contribution of resources by an organisation and its employees to a
cause, to improve community well-being or a charity, most often in the form of
cash grants, donation and/or in-kind services. Hence, the initiatives identified
cover a range of philanthropic activities used to foster relations with the
community.
The initial analysis of the secondary data identified patterns from which these
categories were derived. This was done by assigning phrases to similar
descriptions or similar meanings to key words. These phrases were used
instead of specific words allowing the researcher to capture activities related
to the phenomenon that represented the same objective, e.g. “giving money”,
“donating cash” and “raising funds”. The various acts of giving derived from
the data relates to the definition of philanthropy which according to Encarta, is
a desire to improve the material, social and welfare of humanity, especially
through charitable activities.
The data structure which illustrates how this theme was developed is in
Appendix F Table a). A key emerging theme that came from the first-code
analysis was on “giving money”. This referred to all statements or phrases that
represented giving cash or cheques or raising funds in order to make provision
for an individual, group of individuals or an organisation. This is the type of
giving Carroll (1979) describes as a desirable and discretionary responsibility
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of a firm, which is debatable in the Ghanaian context. According to Lantos
(2002), this type of giving without wanting anything in return, which could be
termed as altruistic, is not necessarily beneficial to the bank’s financial
position, and for publicly-held organisations, such activity is deemed as
immoral (Friedman, 1970). The issue of legitimacy is however, debatable in
this context considering the expectations and demands of stakeholders for the
bank to provide certain CSR initiatives. In this context, the philanthropic
responsibilities are those actions that society expects from a business to be a
good corporate citizen (Helg, 2007). It involves giving back to the community
and being a good corporate citizen through donations, active participation with
charities and community welfare programmes (Carroll & Buchholtz, 2006). The
wide range of acts of giving was represented in statements made by UT Bank,
the following statements or phrases represented this meaning:
“CSR involvement included...donations and sponsorships that directly

benefit underprivileged sectors.” (Annual Report 2009, p.55)
“Breast Cancer Awareness Pink Ball to raise funds for 50 patients.”

(Unique News, Quarterly Internal Newsletter, May 2011, p.20)
“UT donates GHS270m to charity.” (The Enquirer, 17/02/2009, p.2)
Access Bank similarly funded an event, but also gave much employee time to
community programmes:
“...donation of GHS500 to fund event honouring a Ghanaian artist who

designed the National Coat of Arms – Mr Amon-Kotei.” (Letter of
Commitment from Access Bank, 30/11/2010)
“Access undertakes two volunteer projects... both projects were valued

at GHS8,000 which was raised by personal donations from 26
employees.” (JoyOnline.com, Accessed 5/1/2011)
Fidelity Bank also donated to community projects and to schools, sometimes

to raise awareness of a cause:

rehabilitation of water facilities at the Military Academy (worth
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GHS50,000)... donated GHS20,000 towards MRI equipment to 37
Military Hospital.” (Annual Report, 2009)
“Fidelity donates to veterans GHS14,000 on World Day of Veterans... the

bank sees it as an obligation to offer a helping hand to the veterans, says
Daniel Marfo of Corporate Banking.” (Ghanaian Times, 12/11/2010, p.11)
“Fidelity donates GHS7000 (including Managing Director, Edward

Effah’s GHS2000) to New Horizon School to raise awareness of children
living with disabilities, as part of the banks’ CSR.” (Business & Financial
Times, 3/11/2010)
When questioned about the motivation that drove these donations and
contributions, Fidelity Bank said that the public relations benefit derived from
the contributions were worth the effort and financial sacrifice to create value in
the community:
“We make the payment and go through the usual rituals of branding.
…Branding is identity building, creating a differentiating, consistency and
ownership, so once we become a reference point for a project, that’ll
definitely impact on the brand.” (Brand Manager, Fidelity)
“We’ve tended to achieve some kind of multiple mileage from our CSR
activities… When we do these things, we like them to be put in the media
for the broader masses to know what we’re doing... it helps with building
the brand Fidelity.” (Deputy Managing Director, Fidelity)
The angle of motivation for the bank on benefiting from publicity through giving
challenges the moral and ethical obligations of individuals to serve others and
place other’s interests above their own (Comte, 1852), thus individual rights
were not consistent with the above obligation (Chesters & Lawrence, 2008).
However, not all top managers in this bank were in agreement on this
approach to CSR, from the viewpoint that giving should be strategic, focused
on enhancing competitive context:
“I’m not personally a fan of donating a cheque and taking photo

opportunities of the event. However, I also realise that that’s what the
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Ghanaian public is interested in. So I don’t want to discount it.” (Director
of CSR & FI, Fidelity)
Thus, engaging in the community in a continuous and sustainable way to

create a coherent story, this would then contribute to the image-building of the
bank. In order to engage with the community in this manner, philanthropy in
its current state would not be feasible. No doubt, all three banks’ philanthropic
focus was about goodwill building and communal obligation. It is important for
them to support causes favoured by employees, customers and the
community although sometimes altruistic, often necessitated by quid pro quo
of business. Additionally, obligation to give to the community, along with the
community-based programmes which are discussed in Section 6.3.3 was
motivated by the banks’ desire to be good citizens.
The next emerging activity under the dominant theme of philanthropy was that
of “giving resources” which represents all types of giving other than cash, and
included giving of equipment to schools and hospitals, and food and drinks to
orphanages. In UT, the following statements or phrases represented this
meaning:
“...we have responsibility to use resources to make a positive difference.”

(Annual Report 2010, p.56)
“UT staff donate blood....” (Unique News, Quarterly Internal Newsletter,

September 2010)
“UT donates to Effia Nkwanta Hospital in Takoradi... the donation to the

Neonatal Intensive Care Unit includes 2 air conditioners, 1 LCD, 20
mattresses, and 1 desktop computer.” (Daily Guide, 23/02/2011)
From Access Bank, the following statements represented this meaning:
“We would like to express our gratitude for the donation of two PCs for
ICT training...” (Letter of Thanks from Teshie Orphanage, Accra,
5/01/2011)
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“Access undertakes two volunteer projects – one involving providing
Christmas gifts to children and the aged with food and drinks...”
(JoyOnline.com, accessed 5/01/2011)
From Fidelity Bank, the following statement represented this meaning:
“...the bank sees it as an obligation to offer a helping hand to the

veterans, says Daniel Marfo of Corporate Banking.” (Ghanaian Times,
12/11/2010)
This type of responsibility has its roots in the belief that business and society
are embedded in an organic way (Frederick, 1994) which differs from Carroll’s
conceptualisation of a Western or developed context about less focus on how
companies give money away to how companies make money. This is the
reason why these banks are dependent on society for the success of their
businesses. The component of CSR described here partly resonates with
Matten and Moon’s (2004) concept of CSR being ‘implicit’ and less formalised,
concerning those values, norms and rules which result in requirements for
corporations to address areas that stakeholders consider important. Although
this ‘implicit’ concept also refers to organisations’ self-interest driven CSR
policies and strategies, it is not necessarily so for these banks that intervene
in societal issues not always on voluntary basis, but as a matter of necessity.
Given the examples of the nature and variation of contributions made by the
banks, it is evident that the limits of the banks’ responsibility are vague.
Additionally, the implications of their actions cannot necessarily be aligned with
the economic and profit-making orientation of the banks: they seem to rely on
these practices for good business. The range and use of philanthropy in this
context represents a chaotic and messy challenge in defining what this
practice means to the banks. Whether or not the philanthropic actions of these
banks are deemed as strategic philanthropy is debatable. According to Porter
and Kramer (2002), the term ‘strategic philanthropy’ is used loosely to cover
types of giving and charitable activity that has a theme, goal, approach or
focus, and has some connection (however vague) between the charitable
contribution and the business. Most of the banks’ donations had nothing to do
with the companies’ strategies; however they were aimed at generating
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goodwill and positive perception. In accordance with Lantos (2001),
philanthropy is being used strategically by the banks for the purpose of building
a good image and reputation:
“We need a lot of buy in from our stakeholders, we need awareness

creation because that’s the only way they can see what we’re doing. And
that’s the only way we can get support from other institutions so we like
to engage and promote the programmes so that we can get goodwill from
the communities.” (Brand Manager, Access Bank)
“One major advantage that comes with CSR is public perception. And
when you are perceived by the public as contributing to social good it
gives the brand a favourable perception. And in the banking sector where
technically there isn’t much difference in the services – they are virtually
the same, called vanilla products - we are offering with other banks, every
ounce of perception counts because that’s what will influence decision
makers.” (Brand Manager, Fidelity Bank)
“The image of the organisation is continually becoming synonymous with

our CSR practice.” (Corporate Communications Officer, UT Bank)
There is also a notion of altruism behind the motive of giving which identifies
with some definitions of the term philanthropy. Additionally, these banks clearly
perceive philanthropy as a CSR practice and as empirical evidence proves,
their main CSR practice. However, there is awareness amongst the managers
that “true” philanthropy cannot be wholly accommodated in a business
environment. It is noteworthy that this term is also arguably not considered as
a part of CSR depending on which economic context it is being used.
The moral argument of corporate philanthropy is primarily based on the

economist Friedman Milton’s article in the New York Times Magazine which
stated that the only social responsibility of business is to increase its profits
(Friedman, 1970). This argument is extended in his book, Capitalism and
Freedom (1962) where he wrote, “the corporation is an instrument of the
stockholders who own it. If the corporation makes a contribution, it prevents
the individual stockholder from himself deciding how he should dispose of his
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funds.” Friedman therefore concludes that if charitable contributions are to be
made, they should be made by individual stakeholders and not by
corporations. This line of argument is supported by later scholars (Bremmer,
1987; Clement-Jones, 2005; Murray, 2005). These arguments are based on
the assumption that the social and economic objectives are separate and
distinct so that a corporation’s social spending comes at the expense of its
economic results (Porter & Kramer, 2002). This point should be especially
relevant in this context where the banks’ contributions are not always focused
and sometimes ad hoc. However, there is arguably not a black or white stance
in these circumstances considering the fact that there is an element of strategy
where philanthropic interventions are used for publicity to build the image of
the brand (as done by all three banks), and in other cases where charitable
efforts are used to improve the competitive environment (as done by Access
and UT Bank). In other words, philanthropic efforts work towards a
combination of social and economic goals which support each other, wherein
lies the obligation to financially support the community. UT is very clear on
their stance on this issue:
“UT has come this far because of the financial support we have given to
individuals and organisations, and the faith they have put in us is what
has brought us this far. So it is only fair to give back to society.” (Media
and PR Manager, UT Bank)
“My argument around CSR …our agenda has to impact the lives of the
local people. The contribution we make has to sort out a problem.”
(Corporate Communications Officer, UT Bank)
Therefore, the measure of use of philanthropy to enhance its contribution to

social and economic goals into alignment of the banks’ business realises some
dynamics on a continuum as shown in Figure 6.1. This demonstrates differing
measures from pure altruistic philanthropy towards strategic philanthropy to
meet business goals, without claiming its absolute contribution to social and
economic benefits.
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Pure Philanthropy Pure Business
Fidelity Access UT
Figure 6.1: Banks Dynamics of Social and Economic Benefits
Hence in comparison, on the continuum, Fidelity’s CSR activities are more

philanthropic than that of UT which focuses largely on the financial literacy
projects.
In any case, in the developing-country context contributing through

philanthropy in every way can bring enormous social gains to the community.
This is especially so in the priority sectors such as education and health, where
the banks operate their CSR. However, due to the similarities and overlaps of
these prioritised thematic areas, it is crucial that there is some focus for each
bank for the sake of competition. This is especially so in the developing country
context where the business environment has to be improved for the banks to
operate efficiently. It is evident from the data where: Access conducts a
workshop for all banks to train in trading bonds; or Fidelity builds up their
supply chain and expands its market share through agency banking; or UT
focuses on financial literacy to improve business development. According to
Porter and Kramer (2002), improving the business environment through
philanthropy is crucial to competitiveness, therefore, understanding the link
between philanthropy and competitive context helps companies identify where
they should focus their giving.
The motivations for corporate philanthropy vary (Siefert et al, 2003, pp.195-
196). In the context of this study, the achievements of social and economic
goals are the foci for the banks, with an awareness that they are unable to
function in isolation of the society around them. Similarly, the main reasons
that are reflected in literature point towards a way for companies to respond to
the social needs of the local communities in which they operate (Berman et al,
1999; Wood & Jones, 1995), and as a way of stimulating goodwill towards
168
companies within those communities. Some literature argues that corporate
philanthropy influences the perceptions of the firms in the eyes of the
community and stakeholders, including investors, customers, suppliers, actual
and potential employees and the voluntary sector (Himmelstein, 1997; Saiia
et al, 2003; Smith, 1994). The above motivations identify with those of the
banks in Ghana. Philanthropic donations therefore have the potential to serve
the needs of communities, enhance the organisations’ reputations, as well as
enhance the long-run financial performance of the firms.
6.3.1.1 Employee Volunteering

Employee volunteering (EV) is an initiative which involves an organisation’s
support and encouragement of employees to volunteer their time, finances,
physical labour and skills and expertise to support specific causes and the
local community. EV refers to a person who is in paid employment and is also
engaged in volunteering of some form (Lukka 2000). The employee is usually
engaged in volunteering outside, or independent of their work life, with the
support of the employer. The EV activity is either developed by the employer
with the aim of engaging employees who wish to get involved or initiated by
employees with the full support of the employer. The main distinction with this
initiative from others is that it involves the personal volunteering of employees
to meet local needs (Porter & Kramer, 2002), hence being discussed as
separate theme. However, it has been identified as being philanthropic in
terms of its “giving” nature. The data portrayed this theme by in vivo codes
such as “employee volunteering” or “staff volunteers”. EV identified consists of
on-going and coordinated support from the banks for staff involvement in the
local community which are primarily employee-led. The banks are at different
stages of EV, with Fidelity currently looking at ways in which projects can be
integrated into their socially responsible initiatives as well as being strategic
through providing financial literacy skills to the community:

where they will be allowed to do what they want to do… then we can
support that activity. We will also encourage them to volunteer around
financial literacy where they can use their skills and knowledge in the
community.” (Director of CSR & FI, Fidelity)
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Access and UT, however, showed some evidence of engaging with the local
community through employees providing socially beneficial activities on paid
company time. In both cases, their EV initiatives are a combination of
volunteering efforts to meet business goals as well as simply to meet and
support local needs. The employees are encouraged and supported by the
banks to volunteer on initiatives that are connected to the core business such
as providing financial literacy to adults. For example, if members of the
community are taught to understand the benefits of saving and how they can
save, then this potentially contributes to the building of new markets and
potential customers. By the same token, they deal with general community
needs. According to the data, the most common examples of community
projects engaged in by employees include refurbishing of school buildings and
hospital wards, distribution of food and drink on the streets and to orphanages,
charity walks to raise funds for a cause such as cancer, providing and installing
computers to schools, teaching computer skills to children and mentoring
them, health-related projects like working with professional partners to health-
screen the public, and environmental volunteering such as cleaning the streets
of the local community.
For example, UT managers and employees engage with the local community
to provide food and drink to the poor on Christmas day:
“The Chairman with the support of employee volunteers hit the streets
on Christmas day to distribute food and drinks.” (Media & PR Manager,
UT)
According to Kotler and Lee (2005), volunteering within the community by

employees of local organisations are viewed by stakeholders as a genuine
form of social responsibility, as this involves giving away something that truly
belongs to the individuals. So for example, the sacrifice of giving up time with
family on a Christmas Day to feed the poor on the streets is seen as an action
larger than themselves and their own self-interest. Such supposedly genuine
actions which bring employees face-to-face with members of community in
need, help to build a healthy relationship with the local community as well as
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gain values of social capital with the community such as trust and loyalty, and
enhance the corporate image:
“For example, if the issue requires community cleaning, the local branch
staff and community, no matter how small the giving is.” (Brand Manager,
Fidelity)
The increase in the value of moral and social capital through such
interventions is confirmed by various literature (Porter & Kramer, 2002; Saia
et al, 2003; Godfrey, 2005; Bramner & Millington, 2005), where the recipients
of the volunteer efforts recognise the commitment that a company has when
volunteers show up personally to help (Kotler & Lee, 2005). Employee
volunteering at Access Bank is more established with employee volunteering
programmes (EVPs) implemented by clusters across all branches. The scale
of these programmes represents a significant financial investment and
commitment by the bank to encourage, recognise and reward employees for
their efforts. EVP clusters are given the opportunity to decide what initiatives
to undertake based on prioritising a very local need:
“A staff volunteer group (30 employees) from Access Bank contribute

GHS5,000 to support the project of paying bills for outpatient children at
Korle-Bu Hospital, Accra.” (Banking & Finance, 12/01/2011)
A project undertaken can then be monitored and maintained over a period of

time which serves for the sustainability of projects in the community, ultimately
providing impacting benefits. The nature of EVP at Access is varied and not
necessarily strategic in approach which is a potential challenge for the bank
from the viewpoint that efforts are not always directly linked with the banks
bottom-line and could potentially be a waste of resources or be expensive,
considering the scale of participation across all the branches in the country.
On a positive note, the fact that employees are organised in local clusters can
help in ensuring that community issues taken up as projects can be controlled
and monitored to have an impact. Apart from contributing to community needs
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and meeting business goals, EV research literature linked to human resource
development strategy (Logan, 2002; Tuffrey, 1995, 2003) indicates there are
benefits to the employees. There is an indication that the morale of employees
is boosted as a result of volunteering due to the acquisition of new and use of
transferable skills, sharing knowledge, insights into community issues and the
inner satisfaction gained from supporting others. It is noteworthy that there is
little evidence from data on how the impacts of EVP on the employees and
community are measured, although they purport to improve their quality of life.
“Access spends family day out with deprived children from Teshie
Orphanage, six months after entering the Ghanaian market… they are
committed to improve the quality of life for employees and local
communities.” (All Sports, 8/12/2009)
What is evident is the use of EV activities for publicity for the bank, which is
supported by literature linking EV to corporate reputation building strategies
(Quirk, 1998; Thomas & Christoffer, 1999, Tuffrey, 1998). According to Muthri
et al (2009), reasons which employees and corporations give for becoming
involved in EV include “doing good”, “cooperating with others”, “trusting”, or
“networking”. These reasons culminate in intangible assets that count in the
lives of people in the community. To an extent, a reason such as trust
resonates with the banks, especially that of Access which is keen to be
accepted and respected in the Ghanaian market. The role of EV in generating
social capital like trust is supported by Putnam (1995) who also argues that
social capital is accumulated in actual human relationships and interactions
between employees and people in the community, establishing social norms
and facilitating cooperation and collective action (Putnam, 1993, 1995). Thus,
the localisation of EVP by Access using clusters establishes the relationship
of each cluster with the community area they are responsible for.
There is on-going debate (Campbell et al, 1999; Sanchez, 2000; Neron, 2008;
Bronn & Vidaver-Cohen, 2009) on the motives of organisations that capitalise
on their corporate behaviour as corporate citizenships for market advantage,
as customers become sceptical. In this context, Access is not apologetic about
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using their community engagement for publicity as it is part of the plan to be
accepted in the Ghanaian market.
Community Relations
Community relations is another term closely linked with philanthropy (Kotler &
Lee, 2005) in terms of being a direct contribution from the banks. It is the on-
going involvement of the banks to engage with the communities in which they
operate. As sometimes referred to as Corporate Community relations, it is the
function through which businesses intentionally interact with the local
community which is made up of individual or group citizens, organisations and
other stakeholders (Altman 1998). According to Altman (1998), this is done
through community-based and outreach programmes and community
partnerships which include all the activities that promote the interests of the
organisations and the communities where it is located. The community
partnerships involve varying relationships with civic, professional and non-
profit organisations. This function may or may not be linked with philanthropy
within the business.
Primarily, the purpose is to enhance the local environment and foster a

mutually beneficial relationship between the organisation and the community
(Smith, 2014).
The data structure which illustrates how this theme was developed is in
Appendix F Table b). These activities were identified from the data in instances
where the in vivo codes “community investment” and “community relations”
were found. Community relations captures all active and practical
engagements the banks have with their communities in a bid to create a
reliable image. It is worth mentioning at this stage that some of the themes
already identified, such as employee volunteering, impact on community
relations of the banks. Examples of some activities in the data that are
classified under community relations include training events, health screening
projects and the like. The theme of community relations came up often but not
always in the context of what is currently being practised but rather the
direction the banks were aiming to move towards and achieve. Phrases that
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had the above codes were often followed with specific types of activities. So
for example, in the case of Access:
“CSR in Access Bank goes beyond philanthropy to community

investment... In community investment – we look at 5 thematic areas of
health, education, environment, culture and sports. For instance, last
year we focused on work in hospitals making quite an impact on the
health sector, giving direction.” (Brand Manager, Access Bank)
Other terms that were coded as having similar meanings were “investment in
the community”, “social investment” and “community development” as
exemplified.
Evidence was captured in the secondary data in terms of community activities

of banks involved with building relationships and partnerships with
organisations and/or building relationships with the communities, e.g. training
entrepreneurs, investing in the bank’s operating environments. Nonetheless,
the in vivo codes were initially identified in the interview data and evidence
from the secondary data supported the practice.
The types of stakeholder are essential to the definition of community in the

context of this study. The research data did not explicitly aim to find who
specifically the community referred to, but the data implies that the term refers
to all the individuals and organisations that the bank has relationships with.
These two categories – individuals and organisations – in all three cases are
limited by their geographical scope, nature of interaction and identity (Lee &
Newby, 1983). According to McManus and Schlumberger (2002), it is also
helpful to distinguish stakeholders into two groups as ‘moral’ and ‘strategic’
stakeholders. Post et al (2002) and Nicholson and Kitchen (2007) build on this
definition and advocate the consideration of stakeholders as moral and
strategic beneficiaries of community investment activity. The moral
stakeholders may be members of the society or community in general,
whereas strategic stakeholders are those actors that put pressure on
organisations to take specific decisions, for example, lobby groups. The
description of Access’ stakeholders makes reference to how the bank
positively impacts the community, but hardly recognises the strategic role of
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the stakeholder to the bank. This leads to the assumption that the stakeholders
the bank refers to are moral beneficiaries. It also raises the question that
perhaps either the bank has not yet identified who its strategic stakeholders
are, or indeed there is a bias in the assumption that the influence and impact
of decision-making for the CSR agenda is one-sided. Little of the stakeholder
literature has suggested or tested ways in which firms can identify
stakeholders’ interests or what strategies can be used to address
stakeholders’ interests, should they be identified (Polonsky et al, 2002, p.110).
Although, a decade has passed since this claim was made, it may be still true
for developing economies and the complexity of the social environment in
Ghana may mean that the bank faces the problem of recognising the role of
the stakeholder in affecting its CSR agenda.
The concept of “community” does not have one precise definition but a variety
of interpretations, whose only common element was the fact that they referred
to people (Hillery, 1955). According to the data, the boundaries of community
are limited to people or groups of people in an organisation within a local area
and with whom the banks carry out some activities and share interests with. In
recent years, the classification of “community” has considered specific
features (Freeman et al, 2006; Harting et al, 2006; Podnar & Jančič, 2006;
Putnam, 2000) – the place of community affiliation; the country where a
community develops; the group of people with whom one carries out some
activity and shares interests with; the virtual community one takes part in, and
so on. The geographical scope is influenced by location of local branches of
each bank, by region, e.g. Greater Accra, and generally within the country
borders. Interaction with the community is determined by the regularity and
nature of the social relationship. In other words, the focus is on community of
place, which is bound by geographic proximity, common interest, elements of
interaction and practice. These communities of place desire to share the
benefits that the business has by operating in the location, which implies within
the developing economy context that community of place involvement is not a
choice but a necessity in facing demands to contribute to areas such as
education and health, in order to work effectively and be accepted in the
domestic marketplace. The increasing pressures and expectations from
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organisations are also partly a result of relevant social institutions who
traditionally tackle social issues within communities. The common interests of
communities are apparent in terms of the purpose and area of focus for both
the organisations and the community stakeholders, which in the case of the
study are in education, health and social welfare. The research data indicates
that the community stakeholders are not necessarily proactive nor have an
agenda-driven identity to engage in a dialogue with the banks. There is little
evidence of formal dialogue between the banks and the communities that seek
to contribute to the benefits of the community. Nevertheless, there are
uninvited requests from individuals and institutions; and partnerships with non-
profit organisations to support their causes. These community programs,
which are identified and/or adapted to local needs, may either be on ad hoc
basis as in the case of Fidelity or from a strategic approach; conducted in
partnership with other organisations as in the case of UT; or solely by the
banks. However, all three cases worked on similar sectoral themes.
Fidelity’s engagement with community to date has been on an ad hoc basis

where the projects have been chosen with no particular criteria or strategy
apart from the fact that they primarily fall within the CSR theme areas of the
bank, usually in education and health. The bank also gets involved in
sponsorships of events now and again. Fidelity acknowledges not being
strategic in their community involvement, and recognises the fact that they are
challenged to have an organised programme of reaching out to the community
and developing a corporate policy for social engagement. Access Bank,
however, has a structure in implementing community projects through the use
of EVP which provides some continuity and sustainability for their projects.
Ofori (2007) recognised that Ghanaian managers, in particular, believe that
operating in a community involves supporting the community through social
programmes, beyond corporate philanthropy, to strategic actions that respond
to the different needs of the communities in which businesses operate.
Although, there is not a clear determinant of how Access’ projects directly
impact on the bank’s profitability, the bank claims that it does. Indeed, there is
a claim that some of the community solutions implemented create business
opportunities for them:
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“We believe in delivering sustainable community investment, and a
sustainable environment as it is based on this that our business is able
to thrive… Sometimes, even our business ideas are driven by our
community.” (Corporate Affairs Director, Access Bank)
UT Bank on the other hand is focused on its financial interest programme,

alongside other initiatives. This programme is scheduled in April and May each
year, where the bank travels around the country to serve customers and
provide financial literacy training in some of the remote rural areas:
“There is major CSR function that takes place every year between April
– May where the team travels around the country to serve our customers
in the communities – it’s called the Financial Interest Programme.”
(Corporate Communications Officer, UT Bank)
This service is to train potential customers to keep their books and save their
money. Thus, it is geared towards turning programme participants to
customers to achieve the bank’s business development goals. In addition to
supporting these hard-to-reach communities, this programme potentially
provides the bank with new market opportunities and contributes to the
success of the bank:
“Whilst UT is executing what they have to do as a bank, they must at the

same time put CSR at the fore. Without the support of the community we
cannot survive as a business.” (Corporate Communications Officer, UT
Bank)
Access and UT share a similar objective of using community relations to create

business opportunities – improving financial literacy amongst stakeholders.
However, the main difference is in how these relationships are struck. Access
uses the EVP as the main tool to create and implement most projects, whereas
UT relies heavily on partnerships with organisations such as NGOs, who have
expertise in the particular cause or issue:
“UT and Enablis Ghana (an NGO) launch a competition for entrepreneurs
with good business plans in ten industry sectors.” (Daily Graphic,
20/10/2010)
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Access also shows evidence in engaging in similar activities:
“Two years ago, we assembled 120 SMEs and delivered a workshop in

partnership with Friends of Africa – a one-day training on how to develop
workplace policies with facilitators from across Africa and Asia. The
significance of this is how many employees within each company this
workshop impacted if the assumption is that each SME employs at least
10 people. Helping them to know how to conduct their business activities
makes them responsible, so that impact is felt in the sector.” (Brand
Business organisations are not usually competent to involve themselves

effectively in public welfare issues (Freeman, 2001; Shaw & Barry, 1992),
hence relying on such partnerships with non-profit organisations to do so.
Consequently, the bank’s strategies for interactions with the local communities
via their relationships with organisations are identified as cooperation and
sometimes collaboration strategies (Freeman et al, 2006). The objective of
implementing a cooperation strategy for interaction with organisations is to
negotiate win-win solutions whereby through information sharing and on-going
dialogue, a mutual understanding of community problems takes place and
constructive solutions are developed to resolve these issues. The nature of
interactions is cordial and/or reciprocal, with mixed frequencies of engagement
and intermittent durations, depending on what type of project is at hand. The
nature of this relationship does not always allow for consistent and sustainable
projects.
Fidelity on the other hand is neither actively involved in partnerships with

organisations nor has an EVP, but still responds to regular requests from
individuals or organisations, mainly in the area of funding an event or cause.
“The sponsorship requests... for universities or tertiary institutions,

NGOs, churches, etc. We go through these letters and identify the
relevant ones we can assist with.” (Brand Manager, Fidelity Bank)
“...donation for needy students at University of Ghana, Legon....

scholarships worth GHS43000 to three female students of Opportunities
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Industrialisation Centre International (OICI) to complete their vocation
studies.” (Annual Report 2008, Fidelity Bank)
In their recent approach, Fidelity is now looking at becoming more strategic

and focused in the relationships that they strike with organisations in order to
fulfil the bank’s corporate agenda as well as contribute to the benefits of the
community. Hence, they are embarking on the agency banking project which
extends banking services to the doorstep of communities.
“...we are pioneering agency banking in Ghana, which means that shops,
pharmacies, etc can all become banking agents. We are working with
Care International to use our model to reach savings groups, so we can
partner with these guys. To me that fits quite clearly. It’s a business
concept or idea that we hope will bring us profit but the people that we
are helping our poor so it can easily translate into part of our planned and
aligned project.” (Director of CSR, Fidelity Bank)
All the banks are making an effort to position themselves in the community
through active, supportive and practical relations with the community which
they hope converts to an increase of reputation and competitive business.
“If you work in an environment where the community looks at you

positively, when they have to make a choice of where to put their money
and deposits, we’re predisposed because they know that we’re helpful in
the community, or that we’ve created an employment opportunity for
someone’s child... we go beyond throwing money at a project – there is
more human involvement.” (Corporate Affair Director, Access Bank)
“…for the donation of two PCs for spending time to train the children in
ICT…” (Letter of Thanks, Teshie Orphanage, 5/01/2011)
There is a realisation from these banks that in order to be successful in the

marketplace, they need to look beyond their shareholders and to be
innovative. Interestingly, none of them seem to consider the shareholder as
being relevant to how CSR is conducted and the relative impact. Although at
an infant stage of development, there is a vision of moving beyond ad hoc
practices and aligning CSR with the banks’ core business as community
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involvement is perceived as a social responsibility that should be aligned with
the bank’s long term commercial interest. Some of these investments have not
necessarily been so:

which is our core business, so the whole drive around CSR is to do things
that are close to our business in order to make an impact. So rather than
go off and build schools which is all great, have an aligned strategy with
core business and meet the needs of the country in the process... one of
the key things we have in mind is financial education or financial literacy,
because there is a huge need for this in the country.” (Director of CSR,
Fidelity Bank)
There is an indication that Fidelity is being challenged to find ways of building

and developing community relations that has better fit with core business.
According to Hess et al (2002), the phenomenon of community involvement
whereby projects are grounded in the core competencies of the firm and
related to its long-term strategy is referred to as corporate social initiatives. A
Ford Foundation Report (2001) describes corporate investment in community
development as a new paradigm likely to result in a healthier economy and
positive business outcomes. In this new paradigm, firms view community
development needs as opportunities to develop ideas, demonstrate business
technologies, tap into new markets, solve business problems and be
competitive in the marketplace (Kanter, 1999). This seems to be the future
direction of Fidelity, when one of the managers stated their plans for
community involvement:
“We are pioneering agency banking in Ghana, which means that shops,
pharmacies, and retailers can all become banking agents... we give them
a POS machine, and we give customers bank cards so they can either
withdraw or deposit their cash. It means if we are able to extend our
contact points for the customer – then they don’t always have to find their
branch. Actually, these are the areas where we’re starting to develop
community projects with the majority in the rural areas; some will be in
the urban areas, of course.” (Director of CSR, Fidelity Bank)
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Fidelity is keen to adopt technology in its quest for financial inclusion and
business development. According to PricewaterhouseCoopers (PwC) 2010,
transformation of technology and information systems is the backbone for
improving service delivery and sustaining product development. According to
their report, strengthening IT infrastructure such as centralised processing,
disaster recovery plans and Information Security should be a priority for
Ghanaian banks. Financial Inclusion is defined by Center for Financial
Inclusion at Accion (CFI), an action-oriented think tank working toward full
global financial inclusion as:
Full financial inclusion is a state in which everyone who can use them
have access to a suite of quality financial services provided at affordable
prices, in a convenient manner, and with dignity for the clients. Financial
services are delivered by a range of providers, most of them private, and
reach everyone who can use them, including disabled, poor, and rural
population (Financial Inclusion 2020: Opportunities and Obstacles to
Financial Inclusion Survey Report, 2011, p1)
Financial inclusion is achieved when the stakeholders are aligned with

economic growth such that all gain from it (Garg, 2009).
Fidelity’s corporate behaviour to develop financial inclusion identifies with

Kaler’s (2002, p.93) definition of business ethics which states that, “it is a
concern to improve the moral conduct of businesses”. Perhaps it’s fair on one
hand to suggest that this conduct is reflective of the ethical values underlying
the banks’ involvement with the community as being altruistic if the goal of
their CSR efforts is ultimately to meet the needs of the community and make
it a better place. This is supported by Shearer (2002) who argues that the
moral responsibility must ultimately rest on ethical considerations regarding
the nature of the economic entity, including its relationship to the human
community within which it operates. Therefore, between business and
community, the relationship comes in the forms of both altruistic and strategic
CSR practices. In the case of Fidelity, it is strategic CSR. In considering the
nature of the economic entity, taking into account needed activities in the
community that are aligned with the core business leads the bank into the
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realm of mandatory practice. This is in support of Lantos (2001) who proposes
that companies should limit their philanthropy to strategic CSR, which means
being involved in good works that are good for the business too. Community
needs and interests that translate to investments by the bank no longer
become a voluntary choice because if effectively aligned with business goals
will accrue both economic and social benefits. This resonates with Drucker’s
(1984) view that the interests of the community should be the interest of an
organisation. Similarly, Porter (2002) expands on this notion by calling for
distinguishing CSR as either a strategic choice or altruistic. In other words,
presenting a trade-off between increased sustainable profits or reduced
profits.
Additionally, this questions Carroll’s description of ethical responsibility being

a desired expectation which sees ethical duties as overcoming limitations of
legal duties; respecting people’s moral rights and avoiding harm or social injury
as well as preventing harm caused by others (Smith & Quelch, 1993).
According to Brenkert (1996), the most developed version of CSR demands

that corporations help alleviate public welfare issues which include poverty,
illiteracy, underfunded education institutions and chronic unemployment.
Seemingly, the nature of community involvement by Fidelity goes beyond
being an expectation in the realm of morality to becoming mandatory
behaviour. In addition to being an expectation from society, community
relations becomes a requirement for the bank to fulfil its economic and social
objectives though long-term investment in the community.
Fidelity defines their community relations based on an understanding of the

nature and extent of the Ghanaian cultural boundaries and its effects.
Similarly, UT defines some of its CSR events around Ghanaian culture:
“We strive to keep up pace with the world yet, we make sure we have
our minds at our heritage and our values. That is the big agenda for
Fidelity for 2013, and that is where the CSR agenda too is derived.”
(Brand Manager, Fidelity)
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“…it is also culturally right – in our saying we say that – “our parents help
us to grow our teeth, and we help them when they have lost their teeth”
– so it’s the same context here where the society has helped us to be
who we are so it’s important to help them. That’s the same with CSR...
With our blood donation project, there is an Akan proverb that says that
“Sika ye mogya” – which means money is blood – it implies that if people
are saving their money with us, then we as a bank should be able to draw
out something that saves somebody’s life. Thus, blood donation and
banking are synonymous to making investments – life and future.” (Media
& PR Manager, UT)
A focus on Ghanaian ‘heritage and excellence’ highlights the behaviour that

Fidelity should adopt in managing relationships with their strategic
stakeholders. This is also an indication of the importance of the value of social
capital in the local community. Social capital is a multidisciplinary concept that
has differing definitions depending on the user (Ostrom & Ahn, 2003). In this
context, Cooke’s (2002, p.11) definition is used, which supports social capital
as “the expression of norms of reciprocity and trust between individuals and
organisations that are embedded in a system of cooperation.” Social capital is
proposed to have a cognitive dimension through which norms and values are
developed (Nahapiet & Ghoshal, 1998). Failure by businesses in the
community or corporate citizens to understand and adhere to the etiquette
defined by social norms in building a relationship can damage any prospect of
long-term trust (Anderson & Jack, 2002):
“For example, if the issue requires community cleaning, the local branch
staff and community, no matter how small the giving is.” (Brand Manager,
Fidelity)
Trust is described as the “fabric” (Caldwell & Clapham, 2003) or “bond” of

society (Mele, 2003). According to Barber (1983), the act of trusting is based
on actors’ experiences in a transaction, their perceptions of the other and the
associated expectation that the other will reciprocate. Cooke (2002) discusses
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how social capital can favour community and can be based on such unifying
themes as culture, religion, or spatial proximity which is what these banks and
the Ghanaian society have in common. This is when “stocks of social capital”
such as trust, norms and loyalty are realised. On the contrary to what some
authors say about ethical activities (Chewning et al, 1990; Goodpaster, 1996;
Miller & Ahrens, 1993) being undertaken because they are right and not
profitable, Fidelity’s actions are for the purpose of profitability in the long-run,
hopefully leading to good business because trust is built, reputation is
enhanced through positive perception which then attracts customers and
ensures the public’s goodwill.
Finally, in general, the relatively reactive approach to community engagement

leads to question whether the banks are perhaps complacent of the fact that
increasing social and economic changes can give rise to new interests and
issues of concern which may be an outcome of increasing affluence, higher
levels of education, and improved access to information that are likely to
contribute to potential interest groups (Salisbury, 1969; Walker, 1983). Or
perhaps there is no reason not to be complacent considering the low literacy
rates, which ultimately puts a level of demand on these banks to contribute to
the basic welfare and development of the country, especially in the area of
education whether or not there is a demand. The challenge all three banks
face is the ability to move towards engaging and investing in sustainable
projects as opposed to making donations and contributions at random and ad
hoc basis. This challenge is dictated by the cultural expectation of society in
this context which drives the act of giving in the first place. There is recognition
by the banks that projects that are sustainable and relevant to core business
may make business sense, but to a large extent society will dictate how these
banks should engage. In the context of Ghanaian society, giving in cash and
kind is likely to continue to take centre stage for the near future.
Employee Welfare
The differences in the practice of CSR in the banks became significantly
apparent when the issue of employee welfare was compared. In developed
economies such as Europe, the role and rights of employees have been long-
standing items on CSR agendas within organisations. Indeed, they are
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foremost deemed as legal obligation and so must be adhered to. According to
the International Labour Organization (ILO Resolution Report 1947),
employee welfare is the provision to the employee by the employer which is
over and above the former’s wages and is conducive to high morale. In other
words, employee welfare is established when the employee is able to gain
comfort and improvements in the workplace. Welfare typically covers
employees’ rights; fair wages, working hours and good working conditions,
insurance against health, redundancy, and protection against unfair dismissal.
Reference to the welfare of employees in the data was rather scanty with only
one phrase explicitly identified as “quality of life of employees”. Other
references were only implied but not necessarily in terms of being part of the
banks’ social responsibility. The data structure which illustrates how this theme
was developed is in Appendix F Table c).
According to the data for UT Bank, there was minimal activity targeted to
employees. One contribution that was identified was about the recognition of
the employees when the bank won national awards. So, for example, when
the bank won Best Award for Customer Services, employees were in turn
rewarded in order to boost morale and feel appreciated. Similarly, Fidelity,
worked jointly with the Human Resources (HR) department to acknowledge
employees for their extraordinary work. According to Mirns (2012), Golin Harris
six-year survey showed that the perception of whether or not a company treats
and values employees fairly and well is a priority factor in rating their
responsibility and citizenship more so than its philanthropy, community
involvement, environmental performance and other factors. However, the
Ghanaian banks did not prioritise employee welfare as part of CSR. Employee
welfare was deemed a legal requirement which was operated largely by the
Human Resources (HR) department. Fidelity indicated that employee welfare
issues were within the remit of the HR department. Although in Figure 3.2 the
employee is identified as the most important stakeholder – this is not duly
reflected in the banks relationship and activities with this group of
stakeholders. However, the senior manager indicated that the bank was taking
steps as part of their CSR strategy transition to engage employees in providing
insight into improving and developing solutions for their welfare issues. This
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project was being co-ordinated and implemented jointly by the CSR and with
the HR department and specifically led by the Talent and Learning Manager.
Thus, the departmental partnership was still prioritised as an HR agenda,
judging from the project’s leadership.
Access Bank on the other hand was the only case that made mention of their
commitment to improve workplace policies and the quality of life of employees.
The bank also recognised their employees for their contribution to work when
they won a national award:
“The bank’s responsibility is for its employees for starters, and so for
instance, beyond the medical allowance that’s provided along with the
salary, the bank has a welfare package for staff, e.g. specific treatment
of injuries or diseases which may cost more than the employees’ annual
salary is paid for by the bank. We also have HIV workplace policies. And
we also have a peer counselling group/educators where we have
workshops to co-ordinate some training programmes internally to support
the management and outlook of HIV, TB, etc. as these conditions affect
productivity in the workplace as well as support the families.” (Brand
Manager, Access)
The implementation of internal CSR jointly with HR department is supported

by Sharma (2009), who discusses the role of HR as the main contributor
towards CSR within the organisation. The vast contrasts between the three
cases on how employee welfare is perceived or indeed implemented is
perhaps reflective of the Ghanaian employment legislation and a weak
adherence of the banks to respond beyond the legal framework.
Considering employees are one of the primary stakeholders requiring priority

attention where CSR is concerned, it comes as a surprise that they are the
least considered on the agenda. In organisations in developed countries,
initiatives to ensure that employee welfare is fundamental to their CSR (Matten
& Moon, 2008). Indeed, the link between an employer and how employees are
treated is a test of how responsible they are. The lack of internal CSR
intervention is reflected in research, in which CSR is predominantly
approached from a macro-institutional perspective (Costas & Karreman, 2013)
186
with a focus on the interaction of CSR protocols and programs with external
stakeholders. Research suggests that CSR practices which include activities
for the welfare of their employees and their families contributes to increased
employee commitment to the organisation; as well as builds a better reputation
of the organisation in the society to attract new talent (Scott, 2004). CSR
interventions focused within the organisation also regulates employee
perception and conduct (Alversson & Karreman, 2003, 2004), and so is
integral to management operations, positively influencing the internal
dynamics of the organisation as well as the external (Costas, 2013). The
impact of CSR on employees shapes behaviour, identity and meaning which
is tantamount to how it is received, understood, practiced and resisted in
organisations. Fidelity’s plan to engage with employees to provide innovative
ideas on how to become a socially responsible bank is a step in the right
direction.
Therefore, there is an untapped opportunity certainly for all three banks, to link
their CSR agendas to recruitment, employee welfare and workplace policies.
In terms of recruitment, arguably, the banks can gain from their donations and
contributions to education institutions such as universities if their giving is
channelled appropriately to benefit graduates who will potentially become
employees. A structured process is required to ensure that the bank benefits
in the long-term.
For further research, an investigation in employee perception on the

management of CSR within these banks should be undertaken to understand
the alternative viewpoint of these primary stakeholders.
Corporate Reputation
This section was coded by using all the statements that included phrases
representing CSRs influence on the perception of the bank. Hence, phrases
such as “buy- in”, “awareness creation”, “promote”, “positioning”, “favourable
perception” and “branding”. The data structure which illustrates how this theme
was developed is in Appendix F Table d).
Roberts and Dowling (2002) define corporate reputation as “a perceptual

representation of a company’s past actions and future prospects that
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describes the firm’s overall appeal to all its key constituents when compared
to other leading rivals” (p.1078). According to Brammer and Pavelin (2006),
the reputational effects of CSR on an organisation is found to vary both across
sectors and within sectors, across the various types of CSR practices. Thus,
the effect on an organisation’s reputation is dependent on achieving the best
fit between the type of practices and the firm’s stakeholder environment. In
other words, there is opportunity in determining the contribution of philanthropy
to the success of their businesses. According to Bronn and Vrioni (2001),
reputation which is closely related to brand awareness helps companies to
differentiate themselves. Reputation also helps a firm to gain competitive
advantage (Kay 1993). Empirical study conducted by Fombrun and Shanley
(1990) suggests that the greater a firm’s contribution to social welfare, the
better its reputation.
Additionally, the manner of social responsiveness by the banks, measured

according to the needs of the community, is positively viewed by the
community. This is supported by Fombrun and Shanley (1990) and William
and Barrett (2000) whose empirical studies provide evidence of a correlation
between philanthropy and an organisation’s reputation. William and Barrett
(2000) further argue that charitable giving is able to partially restore a firm’s
reputation after it has committed illegal acts. This emphasises the strength of
solutions to social issues through giving (European Commission, 2001;
McWilliams & Siegal, 2001). However, for an organisation to be effectively
socially responsive to a community a varied range of corporate responsible
behaviours in relation to their resources, processes and outputs has to be
considered (Carroll, 1979; Waddock & Graves, 1997; Wood, 1991). Thus, the
range of CSR practices taken by these banks to create a positive image with
their stakeholders. On the other hand, the altruistic nature of philanthropy is
challenged which is defined by McLagan (1994) as taking up a duty in order
to relieve the distress and increase the happiness of others. He elaborated on
the concept by arguing that the proper meaning of the term is that no man, in
the determination of his conduct towards others has any right to take into
account any pleasure, happiness, unhappiness or distress. Therefore, the
altruist’s only return should be the pleasure received from services to others.
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However, evidence from the data shows that this was not necessarily the case
with the banks.
The three banks share a motive when it comes to the link between CSR and
promoting corporate reputation. The diverse range of activities, depending on
differing stakeholder group expectations, has an identifiable impact on
reputation. However, the actual CSR practice fit to stakeholder groups is
outside the remit of this study. Rather, this is just to establish the motive and
relationship between a bank’s CSR practice and its impact on corporate
reputation and ultimately, competitive edge. Managers and executives in
Ghana engage in CSR activities primarily to enhance their corporate image
among customers and secondly for the wellbeing of society (Darty-Baah &
Amponsah-Tawiah, 2011). According to Access, CSR helps to position the
bank in the minds of their stakeholders:
“Our vision is to be the most respected bank in Ghana in terms of

financial performance but also in terms of positioning in the market. So
our CSR feeds into that because whatever we do positions us.”
(Corporate Affairs Director, Access Bank)
According to Fidelity, CSR gives the bank a positive perception and supports
the bank in having a competitive edge:
“One major advantage that comes with CSR is public perception. And
when you are perceived by the public as contributing to social good it
gives the brand a favourable perception… every ounce of perception
counts because that’s what will influence decision makers. So reputation
and perception is very key to influencing customers’ choices and
decisions.” (Brand Manager, Fidelity)
“Branding is identity building creating a differentiating, consistency,

ownership, so once we become a reference point for a project, that’ll
definitely impact on the brand.” (Brand Manager, Fidelity Bank)
According to UT Bank, on the other hand, maintained a middle ground on the

basis of building a reputation with stakeholders so long as the bank behaved
responsibly and was responsive to societal needs. Irrespective of intentionally
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going down the route of publicity, the bank was aiming to be known as a
socially responsible bank. Indeed, the bank believes its brand is being
identified as one that is socially responsible:
“My argument around CSR is that whether we want publicity or not it’s a
win-win situation and someone gets something from it. So our agenda
has to impact the lives of the local people… The image of the
organisation is continually becoming synonymous with our CSR practice
and some of our shareholders are also members of the community, so
whatever we do in the community also impacts them.” (Corporate
Communications Officer, UT Bank)
A firm’s current reputation is determined by the signals that publics receive

concerning its behaviours, whether directly from the firm or via other
information channels, such as the media or the stock market (Fombrun &
Shanley, 1990). There is recognition that it is a challenge to avoid deliberate
publicity:
“I think organisations should just be focused on taking care of the

community but they can’t run away from the fact that they need to get
some publicity out of it. However, if you do it well there will be no need to
make noise about it because the community will make it for you. Overall,
it shouldn’t be a way of promoting the organisation which it does become
eventually.” (Corporate Communications Officer, UT Bank)
The debate on whether community relations are strategic bores down to the
purpose of public relations, for when efforts by the banks to combat social
issues are for publicity as opposed to creating social impact then this becomes
problematic.
6.4 CSR responsibilities for managers

The nature of CSR explored is characterised by responsibilities that are
considered useful for managers in organisations to reconcile their obligations
to relevant stakeholders in claiming legitimacy. The expectation is that this
reconciliation carefully considers a fair balance between its economic and
social orientations, thus embracing the range of business responsibilities that
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Carroll (1991) refers to. According to the data, the legitimacy of CSR
addressed the business’ economic responsibility to society as the most
fundamental, and identified what managers do in implementing this obligation.
Economic responsibilities
Over the years, it has become apparent that an organisation’s pursuit of
financial gain has to take place within the laws of the land (Carr, 1996). The
research data confirms with literature that the profit motive of these banks is
the primary incentive for business operations. The main justification for the
economic responsibility being fundamental is that all the other components are
dependent on the bank’s being financially stable and sound. For example,
Fidelity confirms the need to be profitable in order to build a financially
inclusive sector.
“In order of priority, making money is high on our list, and it is the means
through which we will be able to make an impact. We need to be
increasingly more profitable, because the vision that we have spelt out
for ourselves as a bank, especially on the issue of financial inclusion and
bringing in the unbanked – deploying of technology, trying to device new
and innovative ways of trying to get them to bank with us – that costs
money. So when we make money we can help build a more financially
inclusive banking sector.” (Head of Marketing, Fidelity)
By the same token, the banks recognise the fact that their success is based
on society’s demand for the banks’ products and services to make a decent
profit in the process. This approach is similar to the economic responsibility
taken by companies in Europe, in contrast to the narrow focus on profitability
taken by corporate America (Crane & Matten, 2007):
“Without the support of the community we cannot survive as a business.”

(Corporate Communications Officer, UT)
Hence, the economic implications of CSR are essential for the managers from
the viewpoint that not only are they committed to being consistently profitable,
but also aim at maintaining a competitive position through being socially
responsible. However, it is noteworthy that CSR potential is huge, although
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they appear in primarily non-strategic forms with minimal strategic operations.
Table 6.1 summarises some important characteristics of an organisation’s
economic responsibilities according to Carroll (1991) and how the bank
represents these characteristics.
Table 6.1: Demonstrating Economic Responsibilities

Representative data from banks Characteristics of economic
responsibilities
“We have a great opportunity to create 1. It is important to perform in a

something that will let our shareholders be manner consistent with maximising
proud of their investment in this bank. To earnings per share.
date, their investment has been viewed in 2. It is important to be committed to
purely financial terms but we want a being as profitable as possible.
situation where they see their investment
as a contribution to building a better 3. It is important to maintain a strong
Ghana.” (Head of Marketing, Fidelity) competitive position.
4. It is important to maintain a high

“When an investor is bringing their money
level of operating efficiency.
to the bank, they look at the economic
return on their money. That’s their main 5. It is important that a successful firm
concern, rather than the impact you will be defined as one that is consistently
make in the community.” (Deputy profitable.
Managing Director, Fidelity)
“We are a private investment and so do not

have a lot of shareholders…our major
shareholder – the parent company expects
a 1% of profit before tax towards CSR, so
that’s the commitment of shareholders to
CSR.” (Brand Manager, Access)
Source: Adapted from Carroll (1991)
The banks had different reactions to what the impact of their CSR practices
had on shareholder’s interest. The differences were dependent on whether
they were privately-held or publicly-held. Fidelity Bank which is privately-held
was less accountable to shareholders so long as their expenditure on CSR
supported the community. On the other hand, UT which is publicly-owned
noted the importance of their CSR interventions, as members of the
community were also a significant proportion of their shareholders. Hence, the
bank was supporting the very people that had vested financial interests in the
bank, making the impact of their CSR actions more visible and justified.
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Most CSR activities of all the banks were not aligned with their core business
operations, bringing into question the issue of long-term profitability. The non-
strategic CSR operations were presented in the form of philanthropic acts
which do not have any bearing on the core business operations of the banks.
However, it was clear that these donations and contributions were of high
expectations from society, hence, an essential contribution to the financial
welfare of the banks. Additionally, they were used for media publicity and
helped with building a good image in the society, which supported business
development. Although reference to CSR influencing reputation was identified,
there was very little evidence of any formal strategic approach linking CSR
activities with their communications strategy. It has to be noted at this point
that it is out of the scope of this study to investigate the direct linkages between
the banks’ CSR activities, reputation and their financial performance. From the
strategic viewpoint, Fidelity and UT especially are taking initiatives to be more
sustainable by implementing strategic CSR through their financial inclusion
and financial literacy programmes, respectively.
The influence of culture which underlies expectations and met demands of

society ultimately justifies CSR practices, as well as benefits shareholders. In
other words, profitability is largely dependent on society and based on pure
economic bank products and services. There is currently very little evidence
of core products and services relevant to social sensitivity, apart from Fidelity’s
financial inclusion and UT’s financial literacy programmes. Whilst these
projects are only at the developmental stage, they are moving in the right
direction of aligning and integrating core business operations with social
initiatives. Thus, it is plausible that societal expectations and needs have
characterised the duties of the economic responsibilities of these banks, as
supported by Novak (1996) and Lantos (2001).
The banking sector has proved very competitive in the last five years, following
changing regulations. The proliferation of banks over recent years in the sector
(especially from 2006 to 2013) has meant strong competition within a relatively
small country. Secondly, most of the branches are located in urban areas,
creating even greater competition in these localised areas. The dynamics
within the banking sector, therefore, present the challenge of each bank
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creating and maintaining a competitive edge through differentiation.
Similarities in the CSR practices of the three banks, especially in terms of
philanthropy do not present significant competitive advantage. The data,
however, recognised each case’s forte in their approach to CSR practice which
in future could be developed as their strengths to create a strong competitive
position. For example, Fidelity’s strength in financial inclusion and Access’
strength in employee volunteering programme.
Evidently, all three cases present consistent profitability which could be

attributed to sound business development, partly as a result of CSR and
operating efficiency.
Legal responsibilities
The legal responsibilities of the banks are mandatory and either coexist with
economic responsibilities, or recognised as an extension of their ethical
responsibilities. According to Carroll (1991), the legal obligation of a business
is to comply with the laws and regulations of the state or government and given
the right to operate for profit by society. In other words, as a partial fulfilment
of the ‘social contract’ between business and society, firms are expected to
pursue their economic missions within the framework of the law of the land:
We are not in any way looking to make money at the expense of obeying
the law, which is why in the last ten months there’s been an intensive
anti-money laundering course for every employee in this bank. It was
ordered by the Central Bank but we’ve been one of the first banks to
ensure that everybody is AML compliant… So, even though we want to
make money, first we want to be law-abiding as a …Assuming that we
take the legal responsibility more seriously than anything else, then we
think about how creatively within the law, we can make the most money
for this organisation… Once we do that, we will be able to share the
wealth that we have with society. So, I’ll say legal and economy are on
the same level. (Head of Marketing, Fidelity)
Considering the fact that the law is a derivative of ethics in the sense that the
former captures notions of fair operations, it is no wonder the relationship
between the two responsibilities in all three cases is so strong. This
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responsibility is particularly strong in this context perhaps because of the
nature of the banking business, and also the caution being taken by the sector
to avoid repeating the mistakes of the banks in the West.
“The legal aspect I think covers areas around risk management –

operational and social risks – within our business operations to avoid
commercial crisis. Risk management needs to be robust in our
organisation and it’s important for a sustainable business and brand. So,
legal and risk management will be next, after ethical responsibility.”
(Brand Manager, Access Bank)
The manager perceives legal responsibilities as an evolution from their ethical

stance. Literature suggests that legal responsibilities in developing countries
generally have a lower priority than developed countries (Dartey-Baah &
Amponsah-Tawiah, 2011). However, although legal obligations are mandatory
requirements, there is the possibility of the banks having comparatively far less
pressure for good conduct due to generally weak legal infrastructure – limited
resources, administrative efficiency and independence – which are
characteristics of developing countries. This is not to state that these banks
break the law. In any case, investigating adherence to legal requirements of
the banking sector is out of scope of this study, hence not discussed further.
Table 6.2 provides supporting evidence from the data on some of the
characteristics of the banks’ legal responsibilities.
Table 6.2: Demonstrating Legal Responsibilities

Representative data from banks Characteristics of legal
responsibility
“We are not undertaking any practice that 1. It is important to perform in a

is against the law of the country…” (Media manner consistent with expectations
& PR Manager, UT) of government and law.
“We’ve done training in trading bonds, 2. It is important to comply with

encouraging our competition to various federal, state, and local
attend…understanding the regulatory regulations.
requirements facilitates our work and 3. It is important to be a law-abiding
makes our job easier.” (Corporate Affairs corporate citizen.
Director, Access)
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Ethical responsibilities
The banks perceive their ethical responsibilities as being a natural derivative
of their CSR practices, especially where the community investments and
relations projects are concerned. According to Carroll (1991), ethical
responsibilities represent those actions and practices that are expected or
prohibited by society even though they are not codified into law. This explains
why Lantos (2001) supports this definition with the organisation being morally
responsible to any individual or group where it might inflict actual or potential
injury from a particular course of action. Additionally, it is those actions that
are taken because they are right, not because they are profitable (Chewning
et al, 1990; Goodpaster, 1996; Miller & Ahrens, 1993). Good ethical and moral
behaviour in the long run builds trust and enhances the banks’ reputation,
which attracts customers, employees, suppliers and distributors, along with
earning the public’s goodwill (Lantos, 2001). This explains why the banks
attribute the success of their business development to their ethical actions,
which represent their CSR practice, and is a trade-off between short-run
profitability and moral actions. As a result, apportioning priority to ethical
responsibilities makes it as important a component as philanthropy. This is not
consistent with Carroll’s reference to ethical responsibility being a desired
behaviour.
“I think things are changing now, but ethical and philanthropy will
probably take the centre stage of our economic success because
customers will buy our products if they know that we are a socially
responsible organisation. It provides a competitive edge for us...” (Brand
Additionally, it is in contrast to Dartey-Baah & Amponsah-Tawiah (2011) who

suggest that ethics has the least influence on the CSR agenda. In this case,
the bank perceives being ethically responsible as a differentiator within a
competitive marketplace. However, therein lay some challenges around what
is ethical. For example, UT faced a challenge where they were involved in the
sponsorship of a radio community campaign on children’s healthcare, and had
to ensure that their partner sponsors were appropriate to the cause. As a
result, an alcoholic beverage manufacturer had to be turned down from
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becoming a sponsor of the campaign because it involved children. Fidelity
confirms the relationship between their ethical and legal responsibilities:
“We run our business within the confines of the law, as well as being
ethically responsible… Being legal and ethical is intertwined – you can’t
be legal and not be ethical and vice versa. It’s impossible to behave
illegally and claim to be ethical – it’s not possible.” (Head of Marketing,
Fidelity)
However, there is no claim about the absence of corruption in the business

operations of the banks but merely addressing the implications of the data
regarding managers’ perceptions of what is ethical where CSR is concerned.
Indeed, the literature indicates that corruption still affects a number of
businesses in developing countries, e.g. Transparency International’s Annual
Corruption Perception Index and Global Corruption Barometer; and the World
Bank’s Investment Climate Survey (2005) all paint a similar picture.
The challenges of ethical responsibilities lie in setting the boundaries for

ethical practices. This explains the varied range of actions the banks consider
as ethical. Secondly, the nature of these actions is not necessarily directly
linked with the banks’ operations where avoidance of inflicting injury is
concerned. However, if providing the right financial products and services for
the customer can be described metaphorically as not inflicting injury, then this
description is valid in the context of providing financial literacy and extending
banking services through agents. Also, a number of the actions represent
doing right at the expense of short-run profits.
Table 6.3 shows the characteristics of the banks’ ethical obligations.
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Table 6.3: Demonstrating Ethical Responsibilities
Representative data from banks Characteristics of ethical
responsibility
“I’m very comfortable with our ethical posture, 1. It is important to perform in a

in the sense that we are not about making manner consistent with
money at the expense of doing what is right.” expectations of societal mores and
ethical norms.
(Head of Marketing, Fidelity)
2. It is important that good corporate
“We are not undertaking any practice that is citizenship be defined as doing what
against the law of the country but rather we go is expected morally or ethically.
beyond, caring about human dignity. If people
are unable to take care of themselves, we 3. It is important to recognise that
want to promote human dignity which is both corporate integrity and ethical
behaviour go beyond mere
ethical and legal in my opinion.” (Media & PR
compliance with laws and
Manager, UT) regulations.
Philanthropic responsibilities
As identified before, philanthropy was the main CSR practice across all three
cases. In an attempt to be good corporate citizens, each of the cases
responded to society’s expectations by being heavily engaged in providing
contributions of financial and time resources, programs and activities to
promote social welfare and community goodwill.
“Philanthropy is great, but I think it has been a focus too long and a lot of
resources have gone there. I think we need to move away from
philanthropy and move towards real sustainable, social investment in
creating an impact. Let’s make money but let’s not rely on philanthropy…
It’s been self-propagating because I think we’ve honoured so many of
those requests, word gets around that if you need funds, go to Fidelity.”
(Head of Marketing, Fidelity)
According to Carroll (1991), the distinctive feature between philanthropy and

ethical responsibilities is that the former is not expected in an ethical sense. It
is therefore interesting to note in the data that conducting philanthropy was
interpreted as being ethical. In the context of this study, communities do not
just desire contributions but need these banks to make them as a necessity.
Therefore, arguably the notion of being ethical resides in the context of
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philanthropy as a mandatory requirement because the societal expectations
in Ghana, according to the banks are so high, that the banks have no option
but to provide it.
“Philanthropy is one aspect of CSR we cannot do away with...

philanthropy still has a huge place in our CSR even though we are
moving towards sustainable practice.” (Corporate Communications, UT
Bank)
These expectations from society are as a result of strong indigenous traditions

of philanthropy in developing countries (Dartey-Baah & Amononsah-Tawiah,
2011). This is in contrast to existing literature (Windsor, 2001) which
emphasises philanthropy as mainly discretionary and voluntary acts. The
banks have also come to the realisation that although CSR practice includes
philanthropic activities it is not limited to them, making the process and types
of CSR implementation an evolutionary one within this context. It is evident
from the steps being taken by Fidelity and UT towards more sustainable
projects in financial inclusion and literacy. However, philanthropic
contributions have been the mainstay of CSR practice and indicate to remain
so in the near future due to their importance and significant impact on the
society. The embeddness of philanthropy in Ghanaian culture, as discussed
earlier, makes what is described as a voluntary CSR practice actually one
guided by cultural obligations (Kuada & Hinson, 2012). The priority placed by
Access bank to ensure they engage with the local community soon after
market entry is a good example. This distinction contradicts with Carroll who
argues that philanthropy is only desired by businesses, hence, placed on the
top of the pyramid. In the Ghanaian context, philanthropy is fundamental to the
economic success of the banks, it is an expected responsibility of the banks
from society to derive acceptance and therefore an essential category. It is an
obligation that the economic welfare of the banks is dependent on.
Table 6.4 shows the characteristics of the banks’ philanthropic responsibilities.
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Table 6.4: Demonstrating Philanthropic Responsibilities
Representative data from banks Characteristics of Philanthropic
responsibility
“Fidelity donates GHS7000 (including 1. It is important to perform in a manner

Managing Director, Edward Effah’s consistent with the philanthropic and
GHS2000) to New Horizon School to charitable expectations of society.
raise awareness of children living with 2. It is important to assist the fine and
disabilities, as part of the banks’ CSR.” performing arts.
(Business & Financial Times, 3/11/2010)
3. It is important that managers and
“UT makes donations for health employees participate in voluntary and
institutions.” (Unique News, May 2011, charitable activities within their local
p.24) communities.
4. It is important to provide assistance

“Access spends family day out with
to private and public educational
deprived children from Teshie
Orphanage, six months after entering the institutions.
Ghanaian market..... they are committed
to improve the quality of life for 5. It is important to assist voluntarily
employees and local communities.” (All those projects that enhance a
Sports, 8/12/2009) community’s “quality of life.”
Overall, it is evident that CSR in the context of Ghanaian banks are both
strategic and non-strategic in their approach, with the latter which is mainly
philanthropic, being unanimously a significant contributor of economic welfare
to the banks. Philanthropic acts, which are integral to the national and
subsequently, the organisational culture, are viewed largely as essential and
required contributors to sustain the banks economically. In other words, the
dynamics of CSR in this context are largely driven by the underlying traditions
of the country.
Cultural responsibilities
The issue of culture came up several times, when managers were asked about
whether there were any other key factors in their opinion that drove CSR
responsibilities. The nature of the responses that were received, however,
begs the question: Is “culture” a responsibility or a driver that underpins the
responsibility? Although culture was referred to mostly from an organisational
viewpoint, there was inference of how national culture had impacted
organisational culture. The spirit and practice of CSR in Africa and developing
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countries strongly resonates with traditional communitarian values and
religious concepts (Dartey-Baah & Amponsah-Tawiah, 2011) which is also
exemplified by African humanism – Ubuntu – in South Africa (Visser, 2007).
According to Cameron and Quinn (1998), culture defines the core values,
assumptions, interpretations and approaches that characterise an
organisation. Although the research data did not seek to identify the specific
values that interpret the organisational phenomenon, it is implicit in some of
the cases how the values orientations of the banks affect their CSR practice:
“The CSR strategy we intend to develop centres on the themes Ghanaian

Heritage and Ghanaian Excellence, and that is being derived from the
bigger picture of trying to win the Ghanaian excellence territory within the
Ghanaian banking industry. Not just the banking sector but also the
whole economy.” (Brand Manager, Fidelity Bank)
“...we are Ghanaians, proud of our past and our heritage; yet our values,
our thinking, our output can match any global or multinational company.
We strive to keep up pace with the world, yet we make sure we have our
minds at our heritage and our values. This is the big agenda for Fidelity
for 2013, and that is where the CSR agenda too is derived from.” (Brand
Manager, Fidelity Bank)
According to Strautmanis (2007), social responsibility is a part of

organisational culture and a value in the organisation’s cultural environment
which shapes the attitudes and transforms individual positions so that it
matches personal and public interests. Empirical research and literature
demonstrate and recognise that organisational culture has powerful effect and
is important to long-term enhancement and effectiveness of organisational
performance (Cameron & Ettington, 1988; Denison, 1990; Trice & Beyer,
1993). Fidelity recognises the importance of carving employees’ mind-set to
understand and value the necessity for CSR. The bank is currently doing this
through initial research to gain insight to current employee attitudes:
“Cultural awareness. By that I mean organisational culture and not the

external culture. Organisational culture is key to taking us a long way to
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being socially responsible and in implementing our CSR agenda. The
people who are the key actors in the system executing the agenda should
have a certain mind-set to be able to do this successfully. This is not
necessarily so in this bank at the moment. We need to make every
member of staff at Fidelity understand that in trying to make a lot of
money, we are going to do it on the back of behaving properly and
meaningfully.... But we need to tune our organisational culture to the
point where when we are devoting a lot of the resources to some of those
things, everybody is with us and employees understand – not thinking
we should be paying bonuses, for example. We need to get
organisational culture and buy-in to a point where our CSR focus is sold
to our employees. The culture will be key to make us understand what
we do to make a lasting impact on society. Which means that our most
important stakeholders are key to making the organisation’s wealth, and
sharing it between them and the society in a way that they are
comfortable with. And the only way they’ll be comfortable is if they are
well educated on why we need to share our wealth with the country. We
can’t make assumptions because people are a lot more selfish. So
organisational culture will be another responsibility to focus on. We still
have a way to go on this issue – we’ve only just started to get everyone
on the same page.” (Head of Marketing, Fidelity)
Different organisations’ cultural orientations determine the firms’ respect of

stakeholders’ interests and performance concerning social issues (Ubias &
Alas, 2009). For example, although all cases were highly involved in the
various forms of giving, the data points to the fact that their dominant approach
to CSR practice were quite different: UT was through partnerships with non-
profit organisations; Fidelity was geared towards reaching the unbanked and
financial inclusion; whereas Access has a well-established employee
volunteering program structure in place. It is noteworthy that organisational
culture is influenced by the national culture in which the firm is operating, more
so being a domestic firm. This is evident in what a manager at Fidelity had to
say:
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“Our culture is very much hinged on societal good. We are not
individualistic people, unlike in Europe or US where family is just about
husband, wife and kids; even your mom and dad are not a part. But in
the context of who we are as Ghanaians, you have your parents, your in-
laws and selected cousins as part of your immediate family.” (Brand
Manager, Fidelity Bank)
Researchers Hofstede (1980) and Trompenaars (1992) have reported marked

differences among countries based on certain key dimensions. Trompenaars
(1992) sets examples of national differences on the basis of universalism
versus particularism, individualism versus collectivism, neutrality versus
emotionality, specificity versus diffuseness, focus on achievement versus
ascription, focus on past versus present versus future, and an internal focus
versus an external focus. It is fair to note from the above statement that
collectivism is one of the key dimensions of Ghanaian culture. The culture of
collectivism explains why these banks feel responsible to their communities.
This culturally prescribed responsibility to provide for the communities’ needs
is accepted by managers in doing business. Thus, all three banks express an
onus on themselves to make provision for the community in one way or the
other. This also confirms Cameron and Quinn’s (1998) definition of culture
mentioned earlier. Another manager at Fidelity supported his colleague in the
same vein of organisational culture being linked with national culture.
Although, his discussion focus was on internal culture, he later implied that the
external environment would ultimately be impacted:
“Our campaign for the next 18 months is to sell a new consciousness for
Ghanaians... the campaign will build an awareness on how we are a
world class bank right here in Ghana for the Ghanaian consumer.” (Head
of Marketing, Fidelity)
When questioned whether external culture was excluded, the manager stated:
“We need to start somewhere, and I believe doing so internally as a bank,

as a group is important before we consider how that impacts on the
external. But if there is disunity internally, then allocation of resources to
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solve external issues will be met with resistance.” (Head of Marketing,
Fidelity)
Indeed, there is now generally a consensus in the contribution of culture to

businesses. According to Hofstede (1991), business economics literature now
generally endorses the view that culture has a strong impact on management
behaviours and decisions. Additionally, CSR academics have also argued that
businesses take their cue from the cultural values of their surrounding
societies in defining their social obligations (Sachs et al, 2005).
The focus of each bank on a certain type of CSR practice is only indicative of
their orientation and not an identification of a dominant culture type. This
research did not set out to identify the cultural types of each bank. Indeed, it
is apparent from the discussions that culture is a significant element in
influencing the social responsibility behaviours of each of the banks. Several
empirical studies suggest that culture may have an important influence on
CSR practice (Burton et al, 2000; Visser, 2005; Pinkston & Carroll, 1994;
Edmondson & Carroll, 1999). With the data collected, the researcher is able
to interpret to an extent “how” the banks construct their environment to
accommodate CSR and “what” behaviour patterns are discernible in terms of
CSR, however, there is not enough information to understand the complete
logic – “why” they behave in the way they do. To understand the latter, the
type(s) of organisational culture has to be identified, which is out of scope of
this study and further research will be required to identify the dominant cultural
type of each bank and its implication on CSR. At Access, one manager
referred to culture as a key driver to how CSR projects are adapted from the
overall Group agenda:
“Culture is a key driver... in the manner in which we localise our CSR

practice. For example, malaria is a major health issue that needs
solutions for eradication, and we’d like to roll out the project across
countries that are prone to the disease. So ensuring that we are meeting
very local needs, the group CSR agenda has to be altered to
accommodate this.” (Brand Manager, Access Bank)
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He continues to acknowledge the relevance of CSR reporting to reflect the
adaptation implemented as a point of reference for future projects:
“For instance, if we’re reporting on Ghana, the statistics are very relevant
to the country to help in deciding the way forward on future projects.”
(Brand Manager, Access Bank)
UT also supported the influence of culture on their CSR practice as being

synergistic, but interestingly there were times when culture of the community
did not necessarily work in the bank’s favour:
“As much as we work within a community where there are cultural issues,
it plays a very important role in developing and implementing the project.
I will give you an example – we worked with an NGO that deals with
providing fresh water for the rural areas. And to ours and the NGOs
surprise when we went to these villages to drill bore holes for drinking
water, the villagers protested that the holes should be drilled further away
from the village. The reason being that the women must be able to walk
a fair distance to fetch water.” (Public Relations Officer, UT Bank)
In this context, a fair distance implied a location away from the village, allowing
the women to continue having the ‘walk’ to fetch water. This was a time during
which relationships were made and a lot of social interaction took place
between the women. Indeed, culture provides opportunity for UT to develop
their CSR projects:
“I guess culture does. We know the people we are dealing with. We know
their way of life, hence, we want to develop CSR projects that fit into their
cultural expectations. For example, the market traders typically think of
buying and selling only. However, if we take that the opportunity and
teach them to buy, sell and save for tomorrow it makes a difference for
them. In addition, it is also culturally right – in our saying we say that, “our
parents help us to grow our teeth, and we help them when they have lost
their teeth”. It’s the same context here where the society has helped the
bank to be what we are so it’s important to help them too. That’s the same
with CSR, so culturally; I think it works quite well. With our blood donation
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project, there is an Akan proverb that says that “Sika ye mogya” – which
means “money is blood” – which implies that if people are saving their
money with us, then we as a bank should be able to draw out something
that saves somebody’s life. This makes blood donation and banking
synonymous to making investments – life and future.” (Media & Public
Therefore, based on the discussions above, it can be argued that culture is a

key driver of social responsibility within and without of the banks in this context.
Thus, culture indicates a defining driver in the business operations of the
banks and particularly in the way they conduct their CSR practice.
6.5 Conclusion
In conclusion, culture is a key driver of the nature of CSR practice of banks in
Ghana. As shown in Figure 6.2, the expectations of society, which are driven
by societal mores and norms, lead to the CSR behaviour of the banks. The
banks perceive adhering to society’s expectations through philanthropic
interventions, which are influenced by ethical notions, as critical to the
economic success of their business operations. The controversy lies in the fact
that an approach that is implemented in such an unsystematic, ad hoc and
non-strategic manner is so important to the survival of these banks. The
concept of CSR practice in the context of Ghanaian banks therefore differs in
terms of the interrelation dynamics of the banks’ CSR behaviours and culture.
The next chapter therefore addresses this new concept and the contributions
to knowledge.
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CSR in Ghanaian
banks
Figure 6.2: Influence of Culture on CSR Practice
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7 Conclusion
7.1 Introduction
This chapter builds on the discussion in Chapter 6 and sets out to present and
transform the contribution to CSR into a dynamic, tentative and inductive
model that describes and explains the phenomenon under investigation. In this
chapter, any “deep structure” (Chomsky, 1964) and “deep processes” (Gioia
et al, 2010) in the interrelationships are presented to reveal contribution to
knowledge. Thus, the researcher will seek to unify the contributions into a
theoretical construct. The discussions will also indicate implications to
managers and develop propositions to guide future research.
7.2 Summary of Study

This study indicated at the conceptual stage that Carroll’s CSR pyramid is a
useful model which has been used in different contexts in defining and
exploring CSR in past and recent literature. Although this model has been
predominantly used in literature on exploring CSR practice in Western and
developed country contexts, there has been some evidence to portray that it
does not necessarily represent CSR practice appropriately in the developing
country context, especially in sub-Saharan Africa. This led to the presentation
of the research question:
How is CSR understood and practised in rapidly developing sub-Saharan

African economies?
The gap in literature was therefore explored by investigating retail banks in

Ghana in a multiple case study approach to determine the appropriateness of
the model in this context. In the first instance, the types of CSR had to be
investigated. Despite a few insightful theoretical efforts and empirical studies
in general (for example, Wood, 1991; Lantos, 2001) and specific to Ghana
(Ofori 2010; Kuada & Hinson 2012) that addressed CSR practice, there is very
little empirical work in the services and financial sector context of developing
sub-Saharan Africa and Ghana in particular. Additionally, the importance of
culture had not been fully addressed. The model that emerged from this study
constitutes the main contribution to knowledge; it provides an illustrative model
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of what CSR practice in Ghanaian banks looks like via the dynamic interplay
of some key components. This empirical model focuses explicitly on what it
looks like rather than what it should look like. The contextual nature of the
study with regards to how CSR was practised and its meaning in each unit of
investigation required a model per case. This illustrates the similarities as well
as the differences in each of the cases. Insights into the nature of CSR
practices and its role in these banks’ responsibilities linked with an
understanding of its key influencers. The dearth of socio-economic basic
welfare due to government neglect is established. Additionally, the study
suggests that culture is a significant influencer which has resulted in a state in
which banks feel the need to take responsibility of societal needs. This urge to
support social needs is also backed by cultural values and expectations from
the society which subsequently determines the types of CSR practices.
The following research objectives were set out and met:

Ghana.

in Ghana.

7.3 Theoretical and Social Contribution to Knowledge

In this section, the key contribution to knowledge of multiple case study
research on how CSR is implemented in a developing country context is
determined as both a theoretical and social contribution.
The study determined the meaning of CSR in the Ghanaian context and in
relation to the explanations given by Carroll in various studies and the
literature. The emergent CSR model which is developmental and therefore
may change in future, depicts the relationship of the responsibilities in
operation in the banks, as a result of the influencers that drive CSR practices
in the context of this study. This is made possible by initially identifying the
nature of CSR in these banks.
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The emergent CSR model challenges the depiction of CSR as an order of
dependence and reflection of relative importance of components assigned by
managers (Carroll, 1991, 2004). This study suggests the dependence is
neither cumulative nor linear but rather more integrated and simultaneous. In
other words, the components are not necessarily distinctively separate from
one another and have rather blurred borders and strong interrelationships.
Hence, in agreement with Visser (2006) who supported De Jongh (2004),
suggesting without any empirical evidence that in the African context, instead
of adapting and tinkering with Carroll’s pyramid, it is better conceptually
presented to demonstrate the dynamic relationships, as well as the
interdependence of the components. Therefore, this is in disagreement with
Carroll’s ordered components as the representation of all organisations’ CSR
operations (De Jongh & Prinsloo, 2005; Springett, 2003; Visser, 2003;
Welford, 2003). These interrelationships are better presented in a spiral or
cyclical model.
According to Carroll’s (1991) discussion on CSR, a business conduct is

deemed as socially responsible when it is economically profitable, abides by
the law of the land, is ethical and socially supportive. Carroll purports that
being socially responsible therefore means that the business’ profitability and
obedience to the law of the land are foremost conditions when discussing its
ethical stance. Then follows the extent to which the business supports the
society in which it exists with philanthropic actions. It is established that most
of the research on Carroll’s model was in American and developed-country
contexts. However, in the context of this study, it is evident that the economic
growth and profitability of a bank is strongly linked to the extent to which the
bank supports and engages with the society in which it exists. According to
this study, although there were other types of CSR activity implemented, the
primary nature of support to society was in its philanthropic activities.
Nevertheless, in each of the banks the focus of these philanthropic activities
differed. Additionally, the nature of these philanthropic activities was deemed
as ethical.
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CSR of Ghanaian Banks
In order to answer the primary question of how CSR is understood and
practised in rapidly developing sub-Saharan African economies; the first
objective was to identify CSR practices in the context of Ghana as a
developing country.
The study indicates four theoretical dimensions emerged from the analysis in
the subsequent order of importance (see Table 4.5) – philanthropy, community
relations and investment, employee welfare, and corporate reputation. Each
bank had particular types of CSR activity that support them in gaining
competitive advantage by identifying and engaging with a range of
stakeholders – customers, employees, and partners (Brodie et al, 2006; Lusch
et al, 2007). The purpose of developing and maintaining these relationships is
to ensure that the banks are deemed as good citizens in the community
(Freeman et al, 2004). Philanthropy stood out as the most common and
important CSR activity based on evidence of practice shown in the secondary
data as well as how much it was discussed in the interviews. Additionally,
philanthropy identified as the primary CSR practice across the three banks,
was a contributor to business development as well as the communities’
dependence on these acts of giving.
The empirical evidence suggests that the main reason why philanthropy was
strongly linked to the success of the banks was based on cultural expectations
of the society and the influence of culture on the behaviours of the banks.
Thus, at the core of the CSR operations is a key influencer, culture, which is
deemed essential in affecting both the internal and external operations of the
banks in terms of socially responsible behaviours and practices. Although
performed in mainly an ad hoc manner, from the banks’ perspective, this
activity contributes to their success, thus remains essential collateral for
relationship with the community. An additional benefit derived from
philanthropic activities was public relations which were worth the effort and
financial sacrifice to create value in the community, thus enhancing the bank’s
reputation and the long-run financial performance (Deigh et al, 2016). Thus,
philanthropy in some instances was used by the banks for the purpose of
building a good image and reputation – a finding in accordance with Lantos
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(2001). Therefore, in the context of this study, philanthropy no longer sits at
the top of the pyramid as a discretionary or desired component of CSR, as
suggested by Carroll et al (1999), but as an essential and required component
of CSR. Philanthropy operates simultaneously to affect the reputation of these
banks for the sake of business development and economic benefits, thus is
positioned across the economic responsibilities of each of the banks. The
contribution of the banks’ philanthropic practices to their economic success is
an instrumental value added to the theory of CSR.
Secondly, the response by the banks to the societal need is evidenced by

other significant social engagements with the communities to building social
capital in order to effect business development and consequently economic
growth and profitability. The findings in the category of community relations
and investment indicate a more strategic approach to engaging with the
community, thus sustainable for the businesses. Some of these engagements
which were premised on fixed-term contracts imply longer term relationships
and a co-operative approach to CSR. In accordance with Freeman et al
(2006), this CSR approach supports the development of mutual understanding
of the needs of the community and their respective constructive feedback.
However, there was little evidence of any formal dialogue process between
the banks and the communities, which presents a challenge for these banks
in proactively receiving adequate constructive feedback which can be used to
develop further community projects and investments. The narrow
geographical proximity of the local communities implies the recognition of
community needs in one local community anticipates similar needs elsewhere
(Leisinger, 2007). Subsequently, reactive responses by the banks to request
from individuals and institutions to support their causes culminate in an
inefficient process and an opportunity missed. On the other hand, partnerships
with specialist organisations create a distinctive opportunity to understand the
needs of the community and draw on their strengths to engage with the
communities. In both implementations of philanthropy and community
investments, there is generally a weak alignment with business strategy. In
other words, most of the investments do not necessarily have any synergy with
the core business of the banks. Porter and Kramer (2002) recommend that
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businesses analyse their opportunities for social responsibility using the same
framework that informs their core business choices. Thus, the example of one
of the banks collaborating with the unbanked community to invest in the
community is a good example of the bank and community supporting shared
objectives by creating cost-effective banking solutions to improve
competitiveness, and promote trust and add to the value of social capital within
that community.
In terms of employee welfare, there was limited evidence of how the banks
supported employees. This finding is in contrast to how the role and rights of
employees are viewed as long-standing items on CSR agendas in developed
economies (Matten & Moon, 2008). Indeed, in the empirical evidence, there
was debate on whether employee welfare issues were categorised under
human resources. The lack of clarity on whether employee welfare belongs to
the banks’ CSR agenda perhaps explains the lack of attention in this area
where a good basic salary and some benefits seemed sufficient. The lack of
concern for employee welfare issues by Ghanaian firms is confirmed and
addressed by Dartey-Baah and Amponsah-Tawiah (2011). The employee
welfare issue has implications on the ethical stance of this bank.
The data established that the use of CSR for these banks was in some cases
for publicity purposes – to build the image of the brand, to create awareness
and to create a positive perception and reputation of the banks in the
communities. Communication in the press by all three banks is in the form of
news or editorial and for information purposes, therefore, suggesting an
opportunity for the stakeholders to make an informed decision on their
perception of the banks. The functional situation of CSR in the departments
confirms this purpose – Corporate Affairs, Marketing and Media and Public
Relations, although there had been a recent strategic move in Fidelity from
Marketing to CSR & FI. Reputation of a business reflects the relative success
in fulfilling the expectations of the multiple stakeholders (Freeman, 1984;
Fombrun, 1996). The success of these banks is evidenced not only by the
year-on-year profit growth across all three banks, but also, the increase in
customer base especially in the case of UT. This confirms the argument by
Fombrun and Shanley (1990) that a good reputation enables firms to charge
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premium prices, enhance access to capital markets and attract better clients
and investors. Ultimately, a good reputation helps the banks gain competitive
advantage, as indicated by Kay (1993) about businesses. The challenge,
however, in this context, is how each bank significantly achieves competitive
advantage within the context of the Ghanaian marketplace. Additionally, it is
worth challenging the direct link between social responsibility and the financial
performance of the banks which is outside the scope of this study.
In any case, communication was not used to encourage dialogue between the
banks and their stakeholders, and therefore, not being used strategically for
insight and understanding of the needs and expectations of the stakeholders.
This has implications for how decisions are made on the CSR approach, and
also explains the lack of criteria for decision-making on CSR interventions.
Ptacek and Salazar (1997) suggest that businesses are driven to find new
ways to make their promotions relevant to society, to seek dialogue and to be
responsive and involving. This type of communication resonates with Grunig
and Hunt (1984) whereas, ideally, it might be more economically beneficial to
the banks in the long term. Certainly in the context of this study, there is very
little evidence of the banks seeking dialogue but rather relying on requests
from the community. Without relevant and ample knowledge of CSR
opportunities in society which are measured in relation to the businesses
resources and capabilities, how then do the banks have criteria to approach
CSR in a strategic way that ensures that both business and community
benefit? The non-strategic approach explains why it is then possible for
individual managers to make decisions on which projects to spend on, without
collective support from the organisation. However, it is fair to say at this point
that the aspect of a manager making a decision on funding a project because
of their personal affiliation to the particular project potentially has its own
benefits due to the personal touch associated with the intervention. Although
CSR was used in a number of cases for reputation purposes, the nature of its
link to the overall corporate communication strategy was not clear. The
assumption is that if a significant number of CSR interventions were reactive,
then their use for building reputation was also reactive. Whereas, if they were
integrated into an overall strategic plan, then the banks would know in advance
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what projects they are involved with and how this would play in their
communications strategy.
In sum, CSR has some influence on the reputation of the banks, albeit not in
a strategic manner. Although the banks consistently seek to use their CSR
interventions to promote their businesses, there is still room to develop a
robust communication strategy. Additionally, a bank like Fidelity seeks to move
towards a strategic approach – and there are internal changes within the bank
to prove their strategic direction. Finally, there is an opportunity for the banks
to approach their communications using CSR more strategically. This has the
potential to increase the economic benefits the banks currently enjoy from their
reactive approach.
The second objective of this study was to develop and propose a model of
CSR in retail banking in Ghana. The emergent models for each bank which
will be discussed shortly are represented in Figures 7.1, 7.2 and 7.3. In these
figures, the yellow ring represents philanthropy and the grey, represents
cultural influences. In agreement with the classical economic argument that
management has one responsibility – to maximise the profit of its owners and
shareholders (Friedman, 1970) – the purpose of the primary establishment of
the three cases was for profitability. Whether privately-held by a handful of
private investors, or publicly-held by a high number of individuals and
organisations made no difference to the primary objective of all three banks.
The economic status of each of the banks was therefore fundamental to their
CSR responsibility as a business. This confirms with Friedman (1970) on
businesses making money as well as conforming to the expectations of
society. In the context of a developing economy, the expectation of society in
Ghana is not only primarily underpinned by the culture of the society, but also
the requirement to affect the business environment in order to facilitate
business operations which captures the relevance of the legal and ethical
requirements. Additionally, although the approach to philanthropy was varied
and “messy” in terms of its ad hoc implementation and rather loose criteria of
what corporate philanthropy should look like, it was considered highly
prioritised in this context of CSR practice and inclusive in the cultural
expectations of the society. Nevertheless, with a competitive banking
215
marketplace, it was recognised that charitable giving could no longer be
justified. This is argued by Bronn and Vrioni (2001) from the viewpoint that
customers and stakeholders have an eye on the organisations CSR
behaviour; whether they are donating for goodwill or are actively concerned in
investing and fixing societal problems. With a fast growing financial services
sector and an ever-changing society, keeping up the consistency of non-
strategic giving is challenging.
Where the banks were more consistent and longer-term CSR activities such
as EVP, financial literacy programmes, and financial inclusion were used to
create awareness and build reputation, this is supported by Fombrum and
Shanley (1990) empirical study which suggests that the greater a firm’s
contribution to social welfare, the better its reputation and a competitive
advantage within their industries.
In the case of UT, in addition to philanthropy, the other main focus of CSR is
financial skills training via the bank’s financial literacy programme. The
objective for this programme is to train adults in the communities to learn how
to keep their books and save their money. The primary target audience for this
programme is market traders who are informal sole traders and make up a
large segment of the informal sector. To put this into context, 80% of the
Ghanaian workforce is employed in the informal sector (Osei-Boateng &
Ampratwum, 2011). As indicated earlier, a large segment of the bank’s
business customers has shareholdings in the bank. Additionally, they
represent existing as well as potential customers, making them an essential
group in the community for this bank. UT also approaches other CSR activities
in the community through partnerships with non-profit organisations who
already have a good knowledge of the cause or issue in the community. This
means that they can support the community without being experts in a
particular sector. Thus, UT has a high dependence on its philanthropic
interventions as well as community programmes to gain goodwill and social
trust which then feeds into the business development aspects of its operations.
Hence, there is a link between social needs and expectations, the bank’s CSR
activities and its economic responsibility, thus, making CSR and specifically
philanthropy a required and mandatory practice for the survival of the bank.
216
This explains the positioning of philanthropy spanning across from the cultural
core of the business and the economic responsibilities.
Additionally, the legal responsibility presents a mandatory requirement which

is perceived as closely related to the banks’ economic responsibility, albeit
subtle differences in terms of the perceived importance with ethical
responsibilities. In the cases where ethical behaviour precedes legal
compliance, it is worth noting that the CSR interventions taken by the bank are
seen as ethical, leading to behaving over and above the legal requirements of
the bank, except that the boundaries of the relationship between these two
responsibilities are blurred, making it challenging to determine which of the
two components is a priority. In support of existing literature, all the three
banks are of the notion that their CSR responsibilities go beyond their legal
obligations (Enderle & Tavis, 1998). This explains the interrelationship
between philanthropy and the legal responsibilities. The one factor that UT
and the other two cases recognise as a continued force to driving CSR in the
organisation is culture.
The first model presented is that of UT bank. Figure 7.1 illustrates the
contribution to knowledge of how CSR practices and responsibilities are
related in UT bank. The yellow ring indicates the interrelationship of
philanthropic responsibilities with economic and ethical responsibilities, and
underpinned by cultural influences within and without the banks operations
(illustrated in grey).
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Philanthropy Culture
Figure 7.1: UT Bank’s CSR Responsibilities
In the case of Access, in addition to philanthropy the main intervention activity

for CSR is through employee volunteering programmes (EVPs). The main
objective for the bank using this approach was to be accepted in a society that
views it as a foreign bank. Therefore, the values of social capital such as trust
and loyalty, and the positive impact on relationship with the community derived
from consistent face-to-face interventions by the bank via employees
contribute to a thriving business. EVPs are not necessarily aligned with the
bank’s core business operations but are strategically relevant for the publicity
and image-building of the bank. Additionally, it resonates with the Ghanaian
cultural perspective of building trust through one-to-one contact. In the last
decade (2000s), EV has become a fast growing CSR practice for community
involvements (Peterson, 2004; Tuffrey, 2003). According to Lukka (2000), EV
programmes are either employer-initiated or employee-led. However, in the
context of this study, it is evident that they are both; Access has centrally built
the structures for creating EVPs into clusters very local to the community.
Although the projects are identified and planned by these clusters, they are
formally approved by the bank before implementation. This notion of using
EVP to build trust and gain a ‘good citizen’ reputation within the community
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resonates with Putnam’s (1995) account of social capital. It is worth noting at
this point that further research will be required to explore the validity of the role
of EVP in generating social capital from stakeholder’s perspective. However,
in the context of this study, EVP contributes in varying ways which are
classified as ethical to improve the living conditions of the local communities
through which the interactions create networks of relationships, thus,
facilitating cooperation and collective action between the bank’s employees
and the local communities. According to Kuada and Hinson (2007), foreign
banks (in this case, a bank of Nigerian origin) use CSR as deliberate strategies
to strengthen their corporate image. According to Access, the main goal was
to obtain acceptance and the ‘licence to operate’ in the whole community.
There is, therefore, an important and significant link and integration between
Access’s need for acceptance in the Ghanaian society, its CSR practice and
the economic responsibility. This is indicative of the relationship between
philanthropic behaviour and cultural expectations, and contribution of CSR to
the banks’ economic welfare through trust and building awareness. Similarly,
the economic and philanthropic responsibilities of the bank are both deemed
required and mandatory. Additionally, Access perceives their ethical behaviour
as a prerequisite to legal responsibility. Figure 7.2 illustrates the dynamics
between the various responsibilities, with culture being a catalyst.
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Figure 7.2: Access Bank’s CSR Responsibilities
In the case of Fidelity, it was again evident that philanthropy is still very much
the main CSR practice. Additionally, the development of financial inclusion
programmes is a huge part of its community investment activities. The financial
inclusion approach, which has ethical connotations, is strategically linked to
the core business and fundamental to the economic responsibility and
financial growth of the bank. Integrating CSR initiatives in business is one of
the great challenges facing businesses in balancing societal stakeholder
requirements and the business profitability. According to Porter and Kramer
(2006), there are great opportunities for businesses to benefit from society by
integrating CSR and business strategy. They added that “the more closely tied
a social issue is to a company’s business, the greater the opportunity to
leverage the firm’s resources – and benefit society” (Porter and Kramer, 2006
p.88). This implies that these banks apply their distinctive strengths to select
and operate specific CSR initiatives in order to reap the full benefits. According
to Margolis and Walsh (2003), the ability to leverage CSR practice to improve
competitiveness and increase long-term profitability and growth makes a wise
investment. In the context of this study, the financial inclusion and financial
literacy programmes pose as evidence in favour of making a business case
220
for CSR in an ethical manner. Although at the early stages of development,
comparatively Fidelity Bank has more closely aligned its CSR practices with
its core business operations through its financial inclusion initiatives.
Additionally, the legal responsibility is important - a specific example from
Fidelity is adhering to the anti-money laundering regulations put in place by
the Bank of Ghana, which has led to the bank training its staff to handle all
issues related to money laundering. Culture is perceived to be a continuing
primary influencer to how CSR practice evolves in this bank through the
Ghanaian Excellence theme that underpins the corporate strategy. Figure 7.3
illustrates the nature of interactions between the responsibilities. Similar to
Figure 7.2, philanthropy spans across the economic and ethical
responsibilities of Fidelity bank.
Figure 7.3: Fidelity Bank’s CSR Responsibilities
The second research objective was to develop and propose a CSR model for
retail banking in Ghana. The implications of the findings on CSR in the context
of a developing country in contributing to knowledge does not comprise distinct
components of responsibilities but rather an integration of these dynamic
components to constitute a whole. The findings also suggest that culture
underpins and influences the CSR behaviour of the banks which supports
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Crane and Matten (2004) who not only suggests culture as a potentially
important influence on CSR but also the CSR responsibilities having difference
significance in different contexts. Whilst culture sits at the core of CSR practice
in the Ghanaian banking context (depicted in grey in Figures 7.1, 7.2 and 7.3),
the empirical evidence demonstrates that the components are not mutually
exclusive, with the economic responsibilities of each of the banks integrated
particularly with one or two types of philanthropic activities which are core to
their CSR practice. In all three cases, CSR in the form of philanthropy is not
an added value or “an icing on the cake” for the business as interpreted by
Carroll (1979, 1999) but rather a component which is essential to the economic
growth and success of the bank. This is illustrated in Figures 7.1, 7.2 and 7.3
as a yellow circle indicating the close contributory relationship between the
banks philanthropic responsibilities and the economic responsibilities of the
banks. The nature of the philanthropic interventions is seen as ethical in the
sense that they actually do save the community from harm, irrespective of
whether they are directly linked to the operations of the banks. This leads to a
part-fulfilment of the banks’ legal obligations, whilst according to the banks,
satisfying the legal obligations of the sector is a given. Therefore
demonstrating the strong interrelationships between the ethical and legal
components (which could arguably be interchangeable) make them required
and expected. Additionally, each bank presents certain factors that they see
as worth delving into in the near future as beneficial to the business. Although
this is out of scope of the investigation, they are worth mentioning. In all cases,
these factors – welfare of the youth, capacity building, technology, and
evolving culture – are seen as being essential to the future of CSR. Although
these factors are deemed for the future, the banks have a responsibility to
adapt to changing trends in society in a timely fashion. Hence, they are not
presented in the CSR model.
In sum, the contribution to knowledge in this study established the emergent

models of CSR as having philanthropy as a significant CSR practice which
was essential to the business operations of the banks. Additionally, cultural
expectations affected the way decisions made on CSR. CSR responsibilities
of the banks were more interrelated and non-linear, with philanthropy being a
222
culturally significant CSR priority to both the society and the businesses. The
initial conceptual framework in Figure 3.6 is revisited to address the nature of
CSR within the researched context of a developing country. This is depicted
in Figure 7.4 where CSR responsibilities of a domestic retail bank are
underpinned by the culture from within and without the organisation. Internal
to the organisation, the CSR model demonstrates that the economic
responsibility of the banks is highly influenced by the CSR practices of these
banks, with philanthropy being the primary type of CSR undertaken. The
tension between ethical and legal responsibilities shows the dominance of
ethical responsibility being the catalyst for the banks’ legal responsibilities.
However, this does not downplay on the importance of legal responsibilities
for these banks. Additionally, the relationship between the banks and the
society is influenced by the CSR activities that contribute to meeting the needs
and expectations of the local community, as well as the business opportunities
and particularly the economic responsibility that CSR interventions support
and fulfil. Indeed, it was evident that there was a reliance on the banks to
develop their business and business environment, as well as create legitimacy
for operation through their CSR interventions.
Social Implications of CSR in Ghana

In the context of Ghana, stakeholder values mean it is important for the banks
to embark on certain CSR initiatives which are highly regarded with gratitude
from the community. Thus, the motivation for CSR in Ghana is quite different
from that of developed countries. The expectations of CSR today in the
developed world are about combining an organisation’s business operations
with response to or influenced by stakeholders’ interests, needs and
expectations – all on a voluntary basis. These organisations are also being
measured against their economic, social and environmental consciousness as
reflected in their performance in these three areas (Phillips, 2006). For
instance, as mentioned before, in Europe, CSR is an expected behaviour from
the government and pressure groups that have strong feelings about issues in
which the corporates are themselves stakeholders (Phillips, 2006). In the USA,
both corporates and individuals readily engage in philanthropy. However, the
motivation for CSR in Ghana is very much based on failures of the government
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to cater for the social welfare of the society and a strong cultural sense of
community. There is also the occasional benchmarking against international
criteria stipulated by the Global Compact and Millennium Development Goals
which operates rather weakly.
CSR is influenced primarily by cultural expectations and welfare needs in

society. The factors that drive CSR adoption are relatively weak from the
viewpoint of demands from pressure groups or strategic beneficiaries. There
are also macroeconomic constraints such as limited CSR advocacy and
limited regulatory capacity. Without robust processes in place for banks to
have a dialogue with their various stakeholders creates implications on the
supply and demand of CSR within the communities in determining needs that
can be met through the bank’s core capabilities. This explains the normally
haphazard approach, linking the banks’ spending on a varied range of social
issues, some of which are dependent on an individual top manager’s decisions
based on personal preferences and discretions. The reactive nature of CSR
interventions implies weak strategic planning and leaves the banks
unprepared for potential crisis. Lack of robustness, weak corporate CSR policy
in place causes a challenge for strategic CSR to thrive. In any case, all three
banks assume direct responsibility as moral actors steering their social
responsibility choices with limited stakeholder management, although two of
the banks’ departments over the last three years have been transforming to
focus on strategizing CSR. The benefit of CSR for each of the domestic banks
is reflected in where CSR is placed as a departmental function in each of the
banks. CSR is used in each of the banks for publicity purposes and this is
indicated by the respective departments – Marketing for Fidelity, Corporate
Affairs for Access and Public Relations for UT.
Within the geographical limitation presented in the Ghanaian context, it is

perhaps not surprising that there are commonalities within the same industry
in terms of the relative CSR responsibilities of these banks, and also the
sectors targeted for CSR. However, the particular differences lie in the type of
CSR practice each bank focuses on. This is potentially strength for the banks
in terms of using it as a point of differentiation as well as creating a competitive
advantage. Typically, the models of CSR in the context of this study, where
224
the economic responsibilities of the banks are impacted by philanthropic
activities are influenced by the ethical stances of these banks. The legal
responsibilities are mandatory in all cases and strongly linked to the ethical
obligations of these banks. Underpinning all these responsibilities are the
cultural obligations and expectations of both the organisation and the society
which determines the nature of dynamics that take place between all the
responsibilities which determines CSR in the context of the developing country
of Ghana as demonstrated in Figure 7.4.
7.4 Implications of findings

The investigation of the banks suggests varied CSR interventions and
programmes ranging from philanthropic contributions to community
development projects across differing sectors from education and health, to
sports and the arts. Although the added value of these CSR interventions and
programmes cannot be underestimated, none of the three banks had a
systematic measure for outcomes of their socially responsible behaviours and
interventions. There was apparent belief that CSR was a significant contributor
to the economic welfare of the banks. Additionally, there was perceived impact
of CSR on good corporate reputation and positive brand building, although,
there were no obvious indicators for measure on social impact and direct
economic contributions. For example, impact on societal welfare, organisation
and national productivity, levels of employment and workplace practices
(Jamali, 2002). Nevertheless, the use of CSR practice for public relations was
prevalent in all cases, but more so for external than internal purposes.
The ability for the banks to determine the tangible benefits of CSR is unclear,
thus putting into question some of the choices of projects made by managers
on CSR to be undertaken. Secondly, as CSR reporting is not a legal
requirement for listed companies in Ghana, this leaves very little justification
for the non-listed companies. For instance, shareholders are an important
group of stakeholders driving corporate management. According to Schneth
(2003), the demands of shareholders over the years expanded to include non-
financial expectations of corporate conduct, therefore, becoming concerned
with both social and financial aspects of their investments. However, in the
context of this study, there is no indication of shareholder influence in decision-
225
making on neither CSR interventions nor CSR being an indicating factor for
shareholder investment. The shareholders’ attitude to CSR participation is
seemingly accepted in a passive manner without any obvious input into the
“what” and the “how” of management of the corporate CSR agenda to
contribute to shareholder value. Thirdly, responsibility to employees was seen
by two of the banks as the duty of Human Resources and not categorised as
a social responsibility, hence, surprisingly employee welfare issues held very
little priority in the banks’ CSR practices. This is in vast contrast to the social
responsibility of some European companies, such as Danish ones, who view
the employees’ welfare as a priority. The lack of measure of social
performance is consistent with on-going literature debate regarding
parameters or indicators by which the impact of CSR practice should be
measured in developing countries.
There were also implications for managers from the viewpoint that this
investigation was studying the CSR practice from managers’ perspective. The
current practice of CSR especially in the area of philanthropic contributions
goes against the grain of strategic CSR because the latter are not aligned with
meeting business goals. This has potential adverse implications on economic
benefits, financial efficiency and value added. Thus, banks have the
opportunity to direct philanthropic contributions and investments to areas that
ultimately support their long-term strategic goals (Jamali, 2001). To fully exploit
the strategic potential of CSR practice involves the challenge of good planning
and consideration of internal resources and competencies. Currently, the
majority of the managers are experts in areas such as public relations,
branding and communications, and have had CSR bolted onto their
responsibilities. This situation potentially limits the advancement of CSR in
their organisations. Additionally, the ability to proactively educate all
employees in order to have a shared vision and values presents a common
ground on which ethical behaviour and strategic activities stand, inside and
outside the organisation. This shared commitment can then be built into the
bank’s mission and core values and ultimately reflect in the organisation’s
corporate strategy.
226
Current reference to communication is primarily directed to the reputation and
publicity of the banks. The lack of a dialogue process with stakeholders limits
opportunities for development of CSR. A review of communications processes
to provide two-way dialogue channels between banks and stakeholders will
build a better understanding of societal needs, local peculiarities and
appropriate solutions. To fully exploit the strategic potential of CSR practice
involves the challenge of environmental scanning, good planning and
consideration of internal resources and competencies. This will aid in
proactiveness and effective responsiveness rooted in knowledge of the
external environment (Wood, 1991). Additionally, an opportunity for managers
to work closely with stakeholders to develop a sector-specific CSR policy. This
should be a derivative from either the current make-shift national policy, or
adaptations from some useful international standards such as the UN Global
Compact which are context relevant. Finally, an appropriate means of
measuring and reporting CSR impact on business development and societal
welfare should be created.
Managers lack of attention to human capital issues, including workplace health

and safety and employee satisfaction was clear. Employee welfare features
weakly in their CSR strategy thus limiting the perception of employees on the
benefits of a socially responsible organisation. There are many CSR issues on
employee welfare that organisations in Ghana should be concerned with –
amongst others, rising unemployment in the country, lack of employee
protection and better wages, and discrimination against women in the
workplace are widespread. Nonetheless, these issues do not feature in the
banks’ CSR practices and must be addressed in order to attract and maintain
good quality talent.
Senior management leadership for strategic CSR is vital. The apparent

influence of managers in the banks on making decisions on CSR requires that
they should have relevant CSR knowledge. This enhances their commitment
to strategic CSR especially by top executives and board of directors. CSR
management-specific roles are non-existent and should be put in place either
as new recruits or by retaining existing managers. Additionally, as a function
which requires communication in order to satisfy stakeholder requirements,
227
there should be a close working relationship between the leaderships of both
the CSR and Marketing teams in order to create and increase the value added
to CSR practice in an effective and efficient manner. This will support building
the corporate reputation of the banks strategically in the long term.
The approach to strategic CSR will require measurable and achievable goals
which management are accountable for, and can be used to identify expected
benefits to the bank and stakeholders. Management have to establish a
market research team dedicated to identifying social needs as well as
measuring benefits. The team is necessary to target relevant and receptive
stakeholders for CSR activities in order to reach resolutions efficiently. The
team will also support the right partnerships with non-profit organisations and
third party relationships.
The wide and variable boundaries of ethical responsibility provide

management with a degree of flexibility to operate as socially responsible
banks, with opportunities limited only by research and managers’ creative
minds. Philanthropy could be channelled to satisfy the best interests of the
banks. For example, funds given to the education sector, particularly the
tertiary institution can be used to conduct sector-related research. Additionally,
sponsorships and/or scholarships could be targeted to sector-related courses
and training. That way, both research and training will benefit the banks’ own
values and agenda (Brenkert, 1996), creating opportunities for skilled staff.
Finally, the CSR approach should be aligned with core business operations in
order to benefit both bank and stakeholders. Alignment creates a stronger
inter-relationship between CSR practice and economic benefit which then has
a positive impact on profits. Workplace policies should be revisited to reflect
truly socially responsible banks that are concerned about the welfare of their
employees. This requires the CSR function to work closely with HR to ensure
that the welfare of the employees is recognised as opposed to the current,
exclusive relationship. Additionally, individuals or groups who are actively
involved in volunteering on social responsible projects should be formerly
recognised for their efforts in order to boost employee motivation and morale
which can ultimately lead to low staff-turnover and good quality recruitment.
228
Flexible approaches to CSR by management reflect the dynamic and
unpredictable environment. Managers across the sector should come together
with stakeholders such as government, NGOs and members of the community
to develop CSR policy.
7.5 Limitations of Findings and Further Research

As the thesis has developed, areas have been identified as being beyond the
scope of this research. Hence, certain areas have been identified for further
research based on the limitations of the research findings. The outcome of this
study has some shortcomings which are addressed with suggestions for
further research.
The study was contextual and limited to Ghana’s geographical boundaries.

Thus, not representative of all countries in the sub-Saharan region due to
cultural variances based on colonial and religious differences. Ex-French
colonies, for example, may have a different take on a business’ relationship
with community, e.g. Togo and Côte d'Ivoire. Secondly, some countries are
more Islamic-oriented, whilst Ghana is Christian, again creating a potentially
different approach to business operations and relationship with communities.
The research was also limited to the Ghanaian culture. Evidence from this
study and from existing literature suggests that different cultures and sub-
cultures may have nuances of meaning for each component, and may also
assign different relative importance or inter-relationships (Burton et al, 2000;
Crane, 2000; Edmonson et al, 1999; Pinkston et al, 1994).Due to the above
reasons, findings cannot necessarily be generalised across this region.
Additionally, the research was limited to Ghana’s economy. Different
developing economies have different challenges. Although there may be some
commonalities such as poverty and health issues, factors causing these may
differ and may be peculiar to certain economies. Hence, the researcher cannot
make the assumption that findings are applicable across all developing
economies and all sub-Saharan African countries. Therefore suggestion for
further research will require empirical studies in the different sub-Sahara
African countries, apart from Nigeria and South Africa which already have
extensive research in CSR.
229
This research was limited to the financial services sector. The assumption is
that this sector does not present the obvious environmental issues CSR
interventions would normally deal with. However, due to exponential growth in
the sector there is likely to be a requirement to research changes or evolution
in the practices of CSR as there is a current dearth of CSR literature in this
sector. Additionally, there is the lack of environmental responsibilities
addressed by the CSR pyramid. The findings of this research are contextual
to the financial services sector, specifically retail banks and cannot be
assumed to be generalisable across other services sectors that may have
peculiar challenges. Therefore suggestion for further research will require
empirical studies in the different services sectors exploring the influence of
environmental issues on CSR.
The research used a multiple case study approach of three cases in the
financial sector were used and are not necessarily representative of other
banks in the same sector. It may be worth using a bigger sample as suggested
as up to ten cases (Eisenhardt, 1989) within the same sector or across
different sectors. Additionally, more data collection methods such as focus
groups and observations are available in qualitative research to provide
additional data. Further research with a larger sample and mixed methods will
potentially provide additional insights into the specified context.
Further research could also be undertaken from stakeholders’ points of view

to establish the cultural dynamics of Ghanaian society as well as their
expectations of CSR from domestic businesses. This will provide comparison
between what businesses say about stakeholders’ perception of businesses
and stakeholders’ actual perception where CSR is concerned. Finally, this
study does not address what should happen when responsibility components
are in conflict; therefore, further research can explore this concept. Following
Carroll’s previous empirical studies, for consistency a positivist approach could
be used to test the pyramid in an African context. Finally, implications of CSR
on the corporate reputation for domestic businesses in highly competitive
sectors including the financial sector in developing countries will require further
investigation.
230
7.6 Conclusion
The developing economy is peculiar, thus, CSR is addressed within the
context, paying attention to the economic and societal relationships. This study
establishes the nature of CSR practice in domestic banks in Ghana, with
philanthropy being the primary type. The other common and important forms
of CSR activities that take place in this context are community relations,
employee welfare and corporate reputation. These activities are essential to
the economic welfare of the banks as well as contribute positively to the
societal needs and the business environment. This finding of philanthropy
being essential suggests that Carroll’s CSR pyramid may not be an
appropriate model for understanding CSR in sub-Saharan Africa in general
and Ghana in particular. The order of the components of CSR responsibilities
interprets the differences in the importance and priority, and is presented in a
more integrated and dynamic manner compared to the suggested linear
format. In the context of this study, whilst culture is identified as a key
influencer in addressing CSR, the main CSR practise –philanthropy – is an
essential component of CSR contributing to business development and the
welfare of the society.
231
Society
Domestic Social needs and

organisation expectations
CSR
responsibilities
Types of CSR
Philanthropy
Community relations
Employee welfare
Business environment
and opportunities
Figure 7.4: Evolution of the Conceptual Framework

232
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Appendix A: Manual Categorisation of Secondary Data
November 2011
Company Type of Quotations or items Categories

Document
UT Bank
Annual Reports
2010 “...we have responsibility to use Giving resources

resources to make a positive
difference.” (p.56)
2009 “CSR involvement included... donations Giving resources

and sponsorships that directly benefit
Giving money
underprivileged sectors.” (p.55)
2008 (p.58) Giving resources

Same as above (2009) Giving money
Unique News
(Quarterly Internal
Newsletter)
May 2011 “Breast Cancer Awareness Pink Ball to Giving money

raise funds for 50 patients.” (p.20) (health)
“Donations for health institutions” (p.24) Giving money

(health)
“Day of caring, staff volunteering at an Giving

orphanage and donating clothes and employee, time
money.” (p.26) and skills
Giving money
Giving resources
“UT reach out to underprivileged kids Giving employee

found on the streets on Christmas day.” time
(p.28)
Giving resources
(food)
September 2010 “Ghana’s most respected CEO and Positive

company.” (p.4) corporate image
“Blood donation” Giving resources
(health)
“WFO Hunger Walk”
Giving employee
“Employee Volunteering and day of
time
caring” (p.89)
Giving employee
time
268
Press Cuttings
The Enquirer “UT donates GHS270m to charity.” Giving money

17/12/2009
Unreferenced “UT Commissions a $50,000 unit Giving money

classroom block for an NGO for less-
(2009) Capacity building
privileged called Family Outreach
or training
Ghana.”
Unreferenced “UT and SIC donate GHS5,500 and Giving cash

eight bags of rice Angel-Zoe
(2009) Giving resources
Foundation, an NGO for women and
(food)
juvenile prisons.”
The Heritage “UT supports Black Stars and open Giving money
accounts for players and officials with
14/7/2010 Positive
seed money. GHS1000 for players.
corporate image
GHS500 for officials
The Ghanaian Same as above Giving money

Times
Positive
14/7/2010 corporate image
Daily Graphic Same as above Giving money

14/07/2010 Positive
corporate image
The Enquirer Same as above Giving money

14/07/2010 Positive
corporate image
Chronicle “UT donates GHS10000 to Children’s Giving money

Hospital.”
14/07/2010
Chronicle “UT has presented cheques worth Giving money

GHS40000 to charity organisations as
13/10/2010
part of its CSR to cater for the
underprivileged: Blind GHS5000, GHF
GHS5000, GNTF GHS5000, FOI
GHS5000, Countryside Orphanage
GHS2000, Hope For Kids GHS6000.”
Unreferenced “UT CitiFM Cancer Society of Ghana Giving money

and Cancer Unit (Korle-Bu Hospital) (through fund-
(2010)
raise funds as part of CSR to observe raising)
the Breast Cancer Awareness Month”.
Daily Guide “UT raised funds of GHS100000 for 200 Giving money
patients in 2011... opened UT bank
22/10/10
accounts for these patients.”
269
Daily Guide “UT and Enablis Ghana (NGO) launch a Giving money
competition for entrepreneurs with good
27/10/10 Capacity building
business plans in industry sectors... and
or training
provides funding and training for the
winner to start-up.”
Economy Times Same as above Giving money

(Banking)
Capacity building
25-31/10/2010 or training
Daily Graphic Same as above Giving money

or training
The Chronicle Same as above Giving money

or training
Unreferenced “UT feeds the homeless on Christmas Giving resources

day as a charitable exercise”. (food)
29/12/2010
The Daily “UT supports the military hospital with Giving money
Searchlight cash contribution of GHS230000 to the
refurbishment and maintenance of the
18/11/2010
Trauma and Emergency Unit… in 2006,
UT also donated GHS60000 to the
unit.”
Daily Guide “UT donates to Effia Nkwanta Hospital Giving resources

in Takoradi... the donation to the (health)
23/2/2011
Neonatal Intensive Care Unit includes 2
air conditioners, 1 LCD, 20 mattresses,
and 1 desktop computer”.
Times Same as above Giving resources

(health)
25/2/2011 “UT employees also volunteered two
hours of their time to clean up the unit”. Employee
volunteering
270
Access
Bank
CD Rom April A video featuring a workshop organised Capacity building

2010 by Access Bank in Accra. This was an and training
industry-focused event inviting all banks
to participate in training on Bonds, a
new financial product in the country.
Letters
Letter of Commitment to invest in Access’ Giving money

Commitment operating environment.
Positive
from Access Donation of GHS500 to fund event corporate image
30/11/2010 honouring a Ghanaian artist who
designed the National Coat of Arms –
Mr Amon-Kotei.
Letter of Gratitude Access renovates two school blocks as Giving employee

part of Employee Volunteer Programme time
from an
(EVP) 2010.
association of
local schools – LA
Wireless Cluster
of Schools, Accra
21/2/2011
Letter of Access presented an educative Giving employee

Appreciation documentary film to the schools time
encouraging the children to aspire.
From LA Wireless Positive impact
Cluster of on society
Schools, Accra
13/5/2011
Letter of Thanks Access’ demonstration of concern Giving employee

time
From Teshie Access’ donation of two PCs for ICT
Orphange training Giving resources
(education)
5/01/2011 Access throwing a Christmas party for
the orphan children. Social
inclusiveness
Press Cuttings
All Sports “Access spends family day out with Giving employee
deprived children from Teshie time
8/12/2009
Orphanage, six months after entering
Social
the Ghanaian market.... they are
inclusiveness
committed to improve the quality of life
for employees and local communities.” Employee
welfare
Financial “Introducing Access Bank to Ghana.... Social

Intelligence bringing with it an International Finance inclusiveness
Corporation ( IFC) fund for development
30/8/2009 Upholding
of women entrepreneurs.... upholding
ethical standards
Access’ ethical standards”.
271
JoyOnline.com “Access undertakes two volunteer Giving employee
projects. One involving providing time
5/1/2011
Christmas gifts to children and the aged
(accessed) Giving money
with food and drinks; and the second
involving refurbishing two school Giving resources
buildings... both projects were valued at (food)
GHS8000 which was raised by personal
donations from 26 employees ”.
City & Business Same as above Giving employee

Guide time
(no date) Giving money
Giving resources
(food)
Banking & “A staff volunteer group (30 employees) Giving money

Finance from Access Bank contribute GHS5000 (health)
to support the project of paying bills for
12/01/2011
outpatient children at Korle-Bu Hospital,
Accra.”
Fidelity
Bank
Annual Reports
2009 “The bank delivered on social projects Giving money

such as part-funding and rehabilitation (social
of water facilities at the Military amenities,
Academy (worth GHS50000)... donated health, sport)
GHS20000 towards MRI equipment to
37 Military Hospital... donated GHS
10,000 to Sports Council for Black
Satellites’ World Cup 2009 win.”
“Total budget of GHS100000 for CSR in
2009.”
“Areas of CSR focus being sports,
education, social amenities and health.”
2008 “Co-sponsor of 2008 Scripps Spelling Children literacy

Bee Competition for Junior High
Giving money
Schools to develop reading habits and
(education)
literature for kids...donation for needy
students at University of Ghana,
Legon... scholarships worth GHS43000
to three female students of
Opportunities Industrialisation Centre
International (OICI) to complete their
vocation studies”.
272
2007 “Fidelity gave 3.23% of after-tax profit to Giving money
various causes as part of CSR .... (education)
GHS2000 to University of Ghana,
Legon Financial Aid Office... GHS2000
to 37 Military Hospital to sponsor a
doctors’ specialisation... sponsored a 1
page newspaper spread on Women
Role Models in Business to encourage
women entrepreneurs in SME business
sector”. (p.11)
Press Cuttings
Ghanaian Times “Fidelity donates to veterans GHS14000 Giving money

on World Day of Veterans...the bank
12/11/2010
sees it as an obligation to offer a
helping hand to the veterans, says
Daniel Marfo of Corporate Banking.”
(p.11)
Business and “Fidelity donates GHS7000 (including Giving money

Financial Times Managing Director, Edward Effah’s (education)
GHS2000) to New Horizon School to
3/11/2010 Giving money
raise awareness of children living with
(education)
disabilities, as part of the banks’ CSR.”
Giving employee
“....Fidelity Bank also ends “Go For
time
Gold” six-month campaign, encouraging
a savings culture. Winner got a gold bar Capacity building
valued at GHS73000”. and training
273
Appendix B: Interview Protocol
Interview Protocol: A semi-structured interview, recorded and transcribed
Title of Project:
Company:
Time of interview:
Date:
Place:
Interviewer:
Interviewee:
Position of interviewee:
Questions:
(Thank the individual for participating in this interview. Assure him or her of
confidentiality of responses and potential future interviews)
274
Interview Guide
A. Company Profile
a. What are the company operations?
b. Where are you located?
c. What is the size of this company?
i. Employees?
ii. Turnover?
B. Manager Profile
a. What branch(es) are you normally located?
b. What age range do you fall in?
c. What is your level of management?
d. What does your job role involve?
C. Manager’s worldview: Perceptions on Corporate Social Responsibility

(CSR)
a. What is your understanding of CSR?
b. How is your job role connected with the company’s CSR

practice?
c. Who are the company’s stakeholders?
d. What is the role of CSR in the banking sector?
D. CSR and Corporate Strategy
a. Who is responsible for developing your CSR agenda?
b. What factors drives your CSR agenda?
c. How does the CSR agenda fit in/align with your corporate
strategy?
d. What types of CSR activities is your company involved with?
e. What sectors does your company focus CSR activities on?

Learning & Talent Manager?
275
E. CSR and Business (Profitability)
a. How does your CSR practice impact on your shareholders’

interest?
b. How does your CSR practice impact on the society and

stakeholders?
c. How would you describe the importance of CSR responsibilities

alongside the following:
i. Economic responsibilities?
ii. Legal responsibilities?
iii. Ethical responsibilities?
iv. Philanthropic responsibilities?
d. What other factors or responsibilities do you consider as being

an important in relation to CSR?
F. Key drivers of CSR Practice
a. What role does responsibility to stakeholders play in your CSR

practice?
b. What role does ethical values play in your CSR practice?
c. What role does economic position of the company play in your

CSR practice?
d. What role does culture play in your CSR practice?
e. What role does marketing communication/promotion play in

your CSR activities?
G. Which areas does your company prioritise?
a. Sectors? For example, education, health, etc.
b. Types? Giving, employee welfare, etc.
H. Anything else?
276
Appendix C: Consent Email
FIDELITY BANK
From: Contacts Name

To: Informants name
Cc: Researcher’s Name
Sent: Mon Dec 31 09:38:04 2012
Subject: Research
Dear Informant’s name,
Hope you had a very Merry Christmas.

Please find attached mail from Linda who is working on her PhD and using
Fidelity as a case.
She was recommended by Mr. XXXXX via Fidelity Capital and I know we
have spoken about her a while ago.
As she mentioned earlier she is in town and would love to meet you guys to
conduct her research with you. She had earlier on mentioned interviewed the
MD which I mentioned to you.
She will love to come in on Wednesday or Thursday to work with your team.
Do confirm to her when that will be possible. Linda is copied.
Thank you very much and enjoy your New Year. Happy Holidays.
Kind Regards
XXXX
-----------------------------------------------------
On Mon, Dec 31, 2012 12:44 PM GMT:
Thanks XXX.
Dear Linda,
Thursday 3 Jan should work. Could slot you in for 11am.
Best regards,
XXXX
-----------------------------------------------------------------------------------------
277
From: Researcher
To: Informant’s Name / Email address 10/07/13 at 11:00 AM
Dear Informant’s name,
I have been working closely with Fidelity marketing department for a couple
of years now on my PhD at the University of Bedfordshire (UK), looking at
the bank's corporate social responsibility practice. If you recall, I initially got
your permission via Mrs XXXX XXXX at Fidelity Capital.
As part of the data collection process, I have to talk to key managers in the
bank. I have currently interviewed Mr XXXXX XXXX and his junior manager,
and now I am required to interview the Director/CEO of the bank. I was
therefore wondering if you could avail 1 hour of your busy time during the
week beginning 14th October for this? I am in Accra for a few days that
week, and would please like to schedule you in for either Wed 16th or Thurs
17th.
I look forward to your response as soon as possible.
Kind regards,
Linda
From: Informants Name / Email

To: Researcher 10/07/13 at 3:36 PM
Dear Linda,
I accept the Thursday 17th Oct.

Kind regards
Jim
Informants Name
Deputy Managing Director
O: Phone number
C: Phone number
___________________
Fidelity Bank Ghana Limited
Ridge Tower
Ridge, PMB 43
Cantonments - Accra
www.fidelitybank.com.gh
● ● ●
278
ACCESS BANK
From: Researcher / Email address

To: Informant 09/25/12 at 2:38 PM
Dear Informant,
I hope you and family are well.
I just wanted to update you on my research so far. Please pardon me for the
length of time it's taking - it's on part-time basis so it's taking me twice as
long.
However, I'm gradually drawing to an end with the primary research coming
up. This means that I'll have to set up interview slots with 3-4 relevant
management staff at the end of this year (early December (w/c 3rd or/and
w/c 10th). Managers will include (from bottom-up) those with responsibility in
CSR, corporate affairs, finance and CEO. This will include yourself, along
with Finance director, the boss and perhaps another relevant person your
team. With your permission, I would like to arrange either Skype or face to
face appointments for the above period.
I'll be grateful if you could kindly confirm as soon as possible. Thank you for
your ongoing help on this matter.
Take care.
Best wishes,
Linda
From: Researcher / Email

Sent: Monday, April 15, 2013 7:55 AM
To: Informant
Subject: Meet tomorrow?
Dear Informant,
I hope you and your family are well.

I am in Accra at the moment and would like to pop down tomorrow afternoon
if possible to talk to you? I have a few questions for my research I wondered
if you could help me with.
I look forward to hearing from you.

Regards,
Linda
279
From: Matilda Asante-Asiedu <Matilda.Asante-
[email protected]>
To: Linda Deigh <[email protected]>
Sent: Monday, 15 April 2013, 11:08
Subject: RE: Meet tomorrow?
Hello Linda,
Good to hear from you. 10am tomorrow is fine.
Best Regards
Matilda Asante-Asiedu
Group Head, Corporate Communications &
Brand Management
Head Office
Starlets 91 Road - Opposite Accra Sports
Stadium
Osu - Accra
Tel: +233302673300 Ext: 288
Mobile: +233263007864
www.accessbankplc.com/gh
280
UT BANK
On 26 March 2013 21:04, Linda Deigh <[email protected]> wrote:
Dear Sophia,
I hope you are well.

I was unable to meet up with you and Rita during my visit in December, and
wondered if you would be available in the week beginning 15th April to have
a chat with me. I would like to visit you on the Tues 16 or Wed 17th
afternoon.
I will be grateful if you could kindly let me know which of these days will be
best for you. I appreciate your help in this.
Regards,
Linda
--
Hi Linda,
Any of the days is ok, just call to confirm and we will be available to help.
Thank you,
Sophia
Sophia Lissah
Media & Public Relations Manager
UT Holdings
Accra
Tel: +233 202010035
281
Appendix D: Standard Ethics Consent
This document will be read by interviewer before the beginning of the interview. One
copy of this form will be left with the respondent, and one copy will be signed by the
respondent and kept by the interviewer.
Hello, my name is Linda Deigh. I am a PhD researcher on a study that investigates

the CSR activities undertaken by banks in Ghana.
This process is being sponsored by the Institute of Business and Management

Research, Department of Marketing, Tourism and Hospitality, University of
Bedfordshire, UK.
I may be contacted on 044 xxxxx xxx xxx.
Thank you for your willingness to participate in this research project. Your
participation is very much appreciated. Just before we start this interview, I would like
to reassure you that as a participant in this project you have several very definite
rights.
First, your participation in this interview is entirely voluntary.
You are free to refuse to answer any question at any time.
You are free to withdraw from the interview at any time.
This interview will be kept strictly confidential and will be available only to
members of my research team, which are made of the Director of Studies and
Second Supervisor.
Excerpts of this interview may made part of the final thesis, but under no
circumstances will your name or identifying characteristics be included in this
report.
I would be grateful if you would sign this form to show that I have read you its
contents.
-------------------------------------------------------------------- (signed)
-------------------------------------------------------------------- (printed)
------------------------------------------------------------------- (dated)
(Interviewer: Keep signed copy; leave unsigned copy with the respondent)
282
Appendix E: CSR studies which used/adapted Carroll’s CSR pyramid and showing research methods
Title of Article Author Journal / Year Method Developed or Used/adapted

Developing Carroll’s model
Country or Region since 1991
CSR in developing country MNCs Preuss L Business Ethics Quarterly Multiple Case Study (MCS) 18 countries (Latin Yes
Barkemeyer R 2016 & mixed methods America, SSA, ME, Asia)
Glavas A
CSP of developing country MNCs Zyglidopoulos S Business Ethics Quarterly MCS & mixed methods 5 countries No
Williamson P 2016 BRICS
Symeou P
Aligning CSR with green development pathway Shah K U, Arjoon S, Sustainability Development MCS & Quantitative 5 Caribbean countries No
Rambocas M 2016 Survey
Comparative Analysis of Corporate Social Responsibility Kulkarni P Procedia Behavioural MCS & mixed methods Africa & India Yes
Practices Across Africa and India – An Automobile Rao P Science, Elservier 2014
Industry Perspective
Enclave development and ‘offshore corporate social Ackah-Baidoo A Resources Policy 2011 Theoretical Sub Saharan Africa No
responsibility’: Implications for oil-rich sub-Saharan Africa
CSR in an African Context Phillips F Journal of Corporate Single case study Nigeria No
Citizenship 2006 Quantitative Survey
Corporate social responsibility at the base of the pyramid Arnold D G Journal of Business Theoretical Developing world Yes
Valentin A Research
The Case for Strategic CSR in Developing Countries Jamali D Business and Society MCS & Qualitative in-depth Lebanon Yes
Review 2007 interviews
Corporate Social Responsibility (CSR): Jamali D Journal of Business Ethics MCS Lebanon Yes
Theory and Practice in a Developing Mirshak R 2006 Qualitative in-depth
Country Context interviews
NGO Project Managers' Perception of the Sustainability Hamukwala P Journal of African Business MCS Sub-Saharan Africa No
of Development Muuka G 2008 Quantitative survey
Projects: Empirical Evidence from Sub-Saharan Africa Wheelock G Semi-structured interview
Bukenya J
The boundaries of corporate social responsibility Lantos GP Journal of Consumer Theoretical - Yes
Marketing 2001
Corporate Social Responsibility Carroll A B Business and Society 1999 Theoretical USA & Europe Yes
Integrating Environmental and Stakeholder Management Madsen H & Uhoi J P Business Strategy and the MCS & quantitative survey Denmark Yes
Environment 2001
Concepts and Benefits of CSR sustainability: Between Van Marrewijk Journal of Business Ethics Theoretical Europe Yes
Agency & Communion 2003
Focusing on Value: CSR, Sustainability and a Wheeler D, Colbert B, Journal of General MCS - Yes
stakeholder approach in a network world Freeman R Management 2003
Corporate Social Performance Revisited Wood D J Academy of Management Theoretical - Yes
Review 1991
Stakeholder mismatching: a theoretical problem in Wood D J & Jones R A International Journal of Theoretical - No
empirical research on corporate social performance Organisational Analysis
1995
Corporate Citizenship Perspectives and Foreign Direct Pinkston & Carroll Journal of Business Ethics MCS & quantitative survey USA, Europe & Japan Yes
Investment in US 1994
A retrospective examination of CSR orientation: Have Pinkston & Carroll Journal of Business Ethics MCS & quantitative survey USA, Europe & Japan Yes
they changed? 1996
Giving back: an examination of the philanthropic Edmondson & Carroll Journal of Business Ethics MCS & quantitative survey USA (Ethnic Yes
motivations, orientations and Activities of Large Black- 1999 communities)
owned Businesses
A cross-cultural comparison of CSR orientation: Hong Burton BK, Farh JL & Teaching Business Ethics MCS & quantitative survey USA & Hong Kong Yes
Kong vs United States Students Hegarty WH 2000
Corporate Citizenship: Towards an Extended Theoretical Matten & Crane Academy of Management Theoretical - Yes
Conceptualization Review 2005
Towards the sustainable corporation: Win-win-win Elkington California Management MCS & qualitative Denmark Yes
strategies for sustainable development Review 1994
Why teach corporate citizenship differently? De Jongh & Prinsloo Journal of Corporate Theoretical Sub Saharan Africa No
Citizenship 2005
Business Conceptions of Sustainable Development: A Springett Business Strategy and the MCS & Qualitative New Zealand Yes
perspective from Critical Theory Environment 2003 interviews
Corporate Responsibility in a Developing Country Visser W Ethical Corporation 2003 Theoretical - No
Context
Corporate Citizenship, collaboration and local Hamann et al Journal of Corporate MCS & Qualitative South Africa, Mali, Yes
governance as a complex system: Lessons from mining Citizenship 2005 Zambia
in South Africa, Mali and Zambia
The Role of Multinationals in Eradicating Poverty in Turyahabwa J Poverty & Public Policy 2014 MCS & Quantitative and Uganda Yes
Africa: Perspectives from Different Stakeholders in Urban qualitative interviews,
Uganda focus groups
284
Appendix F: Data Structure of Emerged Themes
a) Evidence of data structure for emerged theme: Philanthropy
UT Access Fidelity First-order Codes Second-order Theoretical Aggregate Theoretical

Categories Dimensions
Ba B ba Statements that convey banks giving resources.
BA Ba BA Statements that indicates banks giving money.
Donations & Contributions
ba Ba A Statements that refer to activities aimed at raising funds for
a cause or an organisation.
BA BA A Activities taken to engage with the local community. Community Activities Philanthropy
B Ba A Statements that convey employees giving their time.
- Ba - Employees giving their cash to project.
b Ba A Statements that refer to employees giving their skills.
bA b A Events organised by employees to provide skills training.
b) Evidence of data structure for emerged theme: Community Relations & Investment
BA Ba b Statements that describe activities with organisations.

BA BA bA Engagement with other organisations to deliver local
community activities.
b BA - Statements that describe positive impact on the local Partnerships with organisations
community or society. and local communities Community relations &
- b A Expressions of appreciation from the local community for
positive impact.
investment
- A A Expressions of the need to engage with the local
community.
bA b bA Events implemented to provide training on financial
literacy.
Financial Skills Training
c) Evidence of data structure for emerged theme: Employee Welfare
285
A bA a Statements that convey responsibility to the employee as
a stakeholder.
Internal activities Employee welfare
d) Evidence of data structure for emerged theme: Corporate Reputation
b - a Explicit announcement of banks positive corporate image

reputation Communicating externally
A A - Expressions acknowledging banks reputation and image.
Ba AB a Statements on reasons for communicating activities
Influencing stakeholders
ab ab Ab Statements about implications and effects of
communicating activities.
perceptions
Key: A More than 2 sources of interview data; a less than 2 sources of interview data;
B more than 2 sources of archival data; b less than 2 sources of archival data;
– not found
286

Title: Corporate Social Responsibility in The Banking Sector of A Developing Country: A Ghanaian Perspective

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Title : Corporate social responsibility in the banking sector of

a developing country: a Ghanaian perspective

Name : Gifty Linda Araba Deigh

This is a digitised version of a dissertation submitted to the University of

It is available to view only.

This item is subject to copyright.

Gifty Linda Araba Deigh

A thesis submitted to the University of Bedfordshire, in partial fulfilment of the

The study investigates corporate social responsibility (CSR) theory to

The study draws on an interpretive approach and investigates within a multiple

This study offers a revised model of CSR, suggesting a non-linear relationship

Name of candidate: Gifty Linda Araba Deigh

Signature: GLA Deigh

Date: 29th February 2016

In loving memory of my dad, Professor Ebenezer. E. Ekuban (1931-1985)

Author’s Declaration....................................................................................... iii

List of Figures ................................................................................................xi

Acknowledgements ....................................................................................... xii

List of Publications and Conference papers................................................. xiii

1.1 Overview ........................................................................................... 1

1.2 Justification of the Study ................................................................... 1

1.3 Rationale of the Study....................................................................... 1

1.4 Research Aim and Objectives........................................................... 4

1.5 Research Approach and Methodology .............................................. 4

1.6 Structure of the Thesis ...................................................................... 4

2 Setting the Context: Ghana and its banking sector ................................. 6

2.1 Introduction ....................................................................................... 6

2.2 Rationale for CSR in Ghana’s Banking Sector.................................. 6

2.3 Ghana ............................................................................................... 7

2.4 Ghana’s Financial and Banking Sector ............................................. 8

2.5 The Role of Business in Ghana’s Development.............................. 12

Ghana’s domestic retail banks ................................................. 15

2.6 Conclusion ...................................................................................... 17

3.1 Introduction ..................................................................................... 18

The selection of journals and articles ....................................... 18

3.2 Development and Evolution of Corporate Social Responsibility ..... 29

Corporate Social Performance ................................................. 35

The Stakeholder Theory ........................................................... 36

Business Ethics ........................................................................ 38

3.3 Defining CSR Today ....................................................................... 40

3.4 The CSR Pyramid ........................................................................... 45

3.5 CSR in sub-Saharan Africa and Ghana .......................................... 50

The developing sub-Sahara African region .............................. 50

CSR in Ghana .......................................................................... 52

3.6 Conceptual Framework ................................................................... 55

3.7 Research Gap................................................................................. 57

3.8 Conclusion ...................................................................................... 58

4 Research Methodology ......................................................................... 59

4.1 Introduction ..................................................................................... 59

4.2 Research Design ............................................................................ 60

Research Objectives ................................................................ 64

Research Ethics ....................................................................... 66

4.3 Multiple Case Study Approach........................................................ 67

Selection of cases .................................................................... 69

4.4 Data Collection and Sources .......................................................... 72

Secondary data: Archival records............................................. 73

The Interview Guide ................................................................. 76

4.5 Managing of secondary and primary data ....................................... 79

The archival data ...................................................................... 79