- Title
- The effective use of corporate social responsibility as a strategic marketing tool to achieve competitive advantage in the South African banking sector
- Creator
- Sogoni, Shalene
- Subject
- Social responsibility of business
- Subject
- Business communication Mass media and business Marketing Banks and banking -- South Africa
- Date Issued
- 2019
- Date
- 2019
- Type
- Thesis
- Type
- Masters
- Type
- MBA
- Identifier
- http://hdl.handle.net/10948/44034
- Identifier
- vital:37094
- Description
- The South African banking sector has increasingly grown, with the rise of new entrants in the market and a strong fintech focus, offering a completely digital banking service with products designed to improve the money management of clients. Competition within this sector has become rife, giving banks the option to compete by using traditional means or pursue alternative options. In the past, banks focused more on lowering costs, increasing sales, improve customer retention strategies and the development of superior digital products and services driven by new technology. However banking organisations also understand that is not enough. In order to survive in a highly competitive industry, firms will be have to diversify and follow alternative means outside of the standard traditional ways of doing banking. The business case for engaging in corporate social responsibility is clear and unavoidable as the scope and nature of the socio-economic problems within our communities persist, so has these societal problems become interdependent with the business environment. Therefore, executive managers and are now encouraged to become good corporate citizens, by becoming more socially responsible in the way it does its business. In other words, by strategically applying CSR, as a marketing tool, a company can be profitable, obtain a competitive advantage and simultaneously contribute towards making a sustainable difference in society. The intent of this study is to determine if corporate social responsibility is being effectively used as a strategic marketing tool to achieve competitive advantage in the South African banking sector. In addressing the main research question, and several other secondary objectives, this study seeks to enrich the discussion by presenting a theoretical review that demonstrates the relationship between several concepts, namely, corporate strategy, strategic marketing, corporate social responsibility and competitive advantage, interrelated in this study. The study employs a qualitative research approach by empirically conducting in-depth discussions with industry experts on the subject matter at hand, underpinned by academic literature. The study will justify the interdependencies of business and the society and explores the benefits of integrating CSR into the core strategy of business. The findings will be valuable to business executives, corporate social responsibility or marketing managers, academics and scholars who are trying to better understand the determinant’s of corporate social responsibility, strategic management and competitive advantage.
- Format
- 164 leaves
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | SM SOGONI.pdf | 1 MB | Adobe Acrobat PDF | View Details Download |