INFLUENCE OF STRATEGIC CORPORATE SOCIAL RESPONSIBILITY COMMUNICATION ON COMPETITIVE ADVANTAGE IN COMMERCIAL BANKS IN KENYA
Abstract
In recent years, scholars and executives alike have dedicated their attention to the implication of corporate social responsibility practices as well as their relationship to a strategy which has led to Kenya banks devoting time in it. The banking industry is highly competitive and dynamic sector owing to globalization, advancement of technology, deregulation of financial services and privatization of banks that were initially public. Therefore, to curb these challenges and be sustainable in the fragile business environment, banks have shifted their focus towards strategic CSR. The purpose of this study was therefore to investigate the influence of CSR communication on competitive advantage in commercial banks in Kenya and to establish the influence of bank size in the relationship between CSR communication and competitive advantage in commercial banks in Kenya. The study results should assist managers in the commercial banks to strike a balance in strategy and corporate social responsibility. A descriptive cross-sectional survey was used to collect data. The target population was 305 branches within Nairobi County, a sample size of 170 branch managers and community champions. The researcher used inferential statistics. The findings indicated that CSR communication positively affected competitive advantage in commercial banks and that bank size was not a moderating factor between CSR communication and competitive advantage. The study recommended that commercial banks should apply proper CSR communication. Further studies should be conducted on the areas of holistic CSR communication in other Kenya sectors.
Key words; Commercial banks, Strategic Corporate Social Responsibility, strategy, competitive advantage, communication
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i2.781
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