Industrial Bank Social Responsibility Performance Analysis

Enterprise ,which is the main component of the modern society, seeks maximum benefits. However, with the social progress and economic development, enterprises should be responsible for not only their own profit, but also the whole society. For example, enterprises are responsible for the environment, economic development, consumer, government, staff and other stakeholders. In 2008, Li Renjie, who is the President of the Industrial Bank, announced to adopt to equator principles. He clearly expressed his views and attitudes to what responsibility to be taken and how to take, which makes the Industrial Bank become the first bank to adopt the Equator Principles. The research focuses on what responsibilities the Industrial Band taken, how they performed and the impact of the responsibility on corporate image, reputation and benefits. Besides, in this research, we try to find what responsibility to be taken by bank through in-depth interviews of executives of the Industrial Bank. Basing on the results of the interviews, we find the flaws in taking the social responsibility and propose the suggestions to improve.At first, we review the literature about responsibility and the responsibility of bank and introduce the details of operations of the Industrial Bank. Next, we conduct interviews to the executives to find the efforts and flaws that exist in the process that the Industrial Bank takes the social responsibility.According to the results of the interviews, we find four problems needed to be solved. Firstly, the social responsibility has been raised to a strategic height, but not integrated into the development strategies of the Industrial Bank. Secondly, taking social responsibility is not systematic and normative. Meanwhile the Industrial Bank has no specific plans, measures and articles to take social responsibilities. Thirdly, support to vulnerable groups is insufficient, which reflects the weak awareness of social responsibility. Fourthly, since 2008, the Industrial Bank has announced to adopt to the Equator Principles. However, the great distance from the specific requirements of the Equator Principles exists. In the research, we analyze the reasons that cause the problems.At the end, we propose the strategies and suggestions for the Industrial Bank to improve from four perspectives.At the end, we propose the strategies and suggestions for the Industrial Bank to improve from the economic, legal, moral and charitable perspectives.