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<p style="text-align:justify;">Globalization increased calls for corporations to use firms’ resources to alleviate a wide variety of social problems taking into consideration that existing governments are unable or unwilling to deal with such problems. In this context, corporate social responsibility (CSR) in the banking sector became a strategic tool of legitimacy in parallel to the recognition of stakeholders’ interests keeping the primacy of shareholders’ interests. This article studies CSR in the Lebanese banking sector through Suchman’s (1995) legitimacy approach to the shareholders’ and stakeholders’ debate. Using a qualitative approach, this paper discloses how the banking strategy in terms of CSR could respond to the process of legitimacy within the debate: “creating value for stakeholders creates value for shareholders”; and reveals how normative considerations are likely to modify substantially banks’ behavior and practices.</p>

MBR_Volume 4_Issue 3_Pages 280-291.pdf

Original Research 

mbr.2017.60272.xml

Issue

CSR in the banking sector: A legitimacy approach to the shareholders’ and stakeholders’ debate

<p style="text-align:justify;">The greater competitiveness and uncertainty of today’s environment have led a growing number of organizations to alter drastically the way in which they operate (Cummings and Worley, 2015). This article discusses organizational change and development in higher education with a neo-institutional approach of an accreditation process. It presents accreditation as a fundamental change especially after becoming a central issue for trust and accountability, student mobility requirements and borderless markets for higher education following the Bologna agenda. Within this context, the neo-institutionalism theory was adopted in order to explain and analyze why organizations end up having the same organizational structure even though they evolve in different ways. Using a qualitative approach, this paper reveals the actions currently undertaken by the Faculty of Business and Management in Saint Joseph University in Beirut which recently entered into the Association to Advance Collegiate Schools of Business (AACSB) process of accreditation; pushed to extreme change in a very competitive environment in order to assume its competitive role on the market.</p>

Organization Change and Development in Higher Education, a Neo-Institutional Approach of Accreditation: The Case of a Lebanese Business School

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