The Positive Impact of Social Responsibility (SR) Strategy on the Performance of SMSEs and Entrepreneurs in the North East Region of Nigeria

Abstract

This study, empirical assessment of the effects of social responsibility (SR) strategy on the performance of SMSE’s and possible improvement on entrepreneurs in the north east region of Nigeria was undertaken and found that social responsibility has made an impact on the operation, economic growth and survival of SMSE’s sub-sector in Yobe State of Nigeria. The study was built in SMSE’s sector of the region, the “Thermo Fisher’s 4i Values” (Integrity, Intensity, Innovation and Involvement) it made up the sector in questions a great interaction with customers, suppliers and partners, communities and each other. These four values are foundational to our SR approach (Thermo Fisher scientific, 2020). Incognizance of the importance of SMSE, this study has expanded the body of knowledge in respect to social responsibility of small and micro enterprises. Specifically, the study worked out means in which SMSE sector be encouraged profitably. Only few of SMSE’s do participate and recognized the activities of SR. The study also recognized that financial institutions like banks, individual financer and government are attracted to few SMSE that participated in SR (Basariya, Al Kake, 2019). The study realized that “Social Responsibility (SR) has become a fundamental way of defining the role of business in society” (Itziar & Josep, 2011). Other prominent writers in this context believe that, the needs of current and future generations cannot be met unless there is respect for natural systems and international standards protecting core social and environmental values. It is increasingly recognized the critical role of business sector. As a part of society, it is in business’ interest to contribute to addressing common problems. Strategically speaking, the study has captured that business can only flourish when the communities and ecosystems in which they operate are healthy (Marylyn, Caroline & Sheena, 2011., Judy & Victoria, 2011., Cameron, 2011., Tobias & Frank, 2011., Min-Dong, 2011, &Babafemi, 2015).