Introduction on Nigeria Social Responsiblity
Law, Corporate Objective and Social Responsibility:
The Nigerian Situation
Background Information
Corporate associations largely influence the lives of humans and economies of nations. Confederation of British Industry rightly notes that human ‘...lifestyle is determined by the activities and the style of businesses’. [1] These businesses are in turn largely determined by the activities and styles of companies.[2] Therefore, the impacts of businesses and their organisations on humanity cannot be undermined.
Corporate businesses have existed for over one hundred and fifty (150) years.[3] Their impacts on the global village have been underscored by Jurists and eminent scholars. Kirby[4] expressed his esteemed opinion about publicly held corporations, stating that:[5]
“The idea of an independent corporation governed by directors and accountable to shareholders, was a brilliant one. It permitted people to raise capital from the public, to invest it without, in most cases, a danger of personal risk and to engage in entrepreneur activity which, otherwise, would probably not occur”.
Jensen equally noted that the concept of public corporation lowered the threat of financial risks and encouraged the spread of financial burden across large number of investors.[6]
There is no denial that companies perform vital roles in commerce around the world. Undoubtedly, in almost all nations of the world, companies play important roles in the national economic life. For example, they account for virtually 100 percent of the national economic output in the United States of America.[7] These important roles have earned them the endorsement as veritable platforms for running business activities. By the roles, companies have paved a bright path for great present and greater future entrepreneurial feats.
the structures and roles of companies continue to evolve based on global trends. The advancement of corporations globally is moving
The Nigerian Situation
Background Information
Corporate associations largely influence the lives of humans and economies of nations. Confederation of British Industry rightly notes that human ‘...lifestyle is determined by the activities and the style of businesses’. [1] These businesses are in turn largely determined by the activities and styles of companies.[2] Therefore, the impacts of businesses and their organisations on humanity cannot be undermined.
Corporate businesses have existed for over one hundred and fifty (150) years.[3] Their impacts on the global village have been underscored by Jurists and eminent scholars. Kirby[4] expressed his esteemed opinion about publicly held corporations, stating that:[5]
“The idea of an independent corporation governed by directors and accountable to shareholders, was a brilliant one. It permitted people to raise capital from the public, to invest it without, in most cases, a danger of personal risk and to engage in entrepreneur activity which, otherwise, would probably not occur”.
Jensen equally noted that the concept of public corporation lowered the threat of financial risks and encouraged the spread of financial burden across large number of investors.[6]
There is no denial that companies perform vital roles in commerce around the world. Undoubtedly, in almost all nations of the world, companies play important roles in the national economic life. For example, they account for virtually 100 percent of the national economic output in the United States of America.[7] These important roles have earned them the endorsement as veritable platforms for running business activities. By the roles, companies have paved a bright path for great present and greater future entrepreneurial feats.
the structures and roles of companies continue to evolve based on global trends. The advancement of corporations globally is moving