Institutionalising Corporate Social Responsibility for Local Community Development: Processes and Outcomes

Abstract

Although wealth creation is the core aim of corporations, corporate social responsibility (CSR) is increasingly attracting critical attention particularly due to the impact of business activities on communities and the environment. Among others, it has been noted that strategic planning influences the scale of CSR. This study aimed at assessing the institutional frameworks necessary to spur CSR in relation to community development. The study adopted descriptive and classical experimental methods in assessing the processes and outcomes of CSR interventions of Gold Fields Ghana Ltd, a leading mining company operating in Ghana. The study established that properly instituting corporate social responsibility (CSR), such that it is well structured with appropriate leadership, planning and financial input can result in considerable contribution to community development.