Corporate Strategy, CSR Programmes and their Acceptance by Small and Medium Enterprises (SMEs) in Ghana

Abstract

The Title of this research work is “Corporate Strategy, CSR Programmes and Their Acceptance by Small and Medium Enterprises (SMEs) in Ghana. Even though corporate social responsibility (CSR) programmes have become more well-known worldwide, Ghanaian SMEs still don't fully embrace them (Ansong Abraham 2017). In Ghana, the concept of Corporate Social Responsibility (CSR) is evolving, with an increasing number of firms recognising its importance. However, the adoption and acceptance of CSR programmes among Small and Medium-sized Enterprises (SMEs) still remain limited (Sarpong, 2021). This research explores the details or components of corporate strategic management and how they affect CSR programme acceptance and implementation among Ghanaian SMEs. This study aims to close the gaps in literature and practice by shedding more light on the relationships between corporate strategy, CSR initiatives, and SMEs' acceptance of them in Ghana. The conceptual framework that was employed as illustrated in our Figure2.1 shows how the four pillars listed in it determine the inter-relations between corporate strategy, CSR initiatives, and SMEs' acceptance of them. The main theories that were used in our research work are the Stakeholder Theory and the Resource-Based View Theory. The qualitative research method was used in this research investigation. The Exploratory methodology which aids in the comprehension of the poorly understood study topic or subject was employed which uses focus groups, in-depth interviews, and observational studies. Constructivism is the underlying philosophical theory. Jean Piaget (1896–1980), one of constructivism's principal proponents, proposes that people actively create knowledge through their interactions, experiences, and interpretations. Implementing CSR is hampered by some issues, the most important of which are resource limits, including those related to money and human capital. SMEs also struggle to measure the observable effects of their CSR efforts and manage the expectations of various stakeholders. Despite these obstacles, CSR builds market trust, brand distinction, and consumer loyalty, all of which give businesses a competitive edge. Overall, this research’s findings highlight the strategic importance of CSR for Ghanaian SMEs while emphasizing the need for greater resource support and alignment with stakeholder expectations to maximize its impact. This study concludes that more acceptance can be fostered by matching CSR programmes with the strategic goals of SMEs. It also calls for corporations or state institutions and policymakers to collaborate to develop CSR initiatives with SMEs to increase their involvement and acceptance.