Applying a Consumer Perceptual Measure of Corporate Social Responsibility: A Regional Australian Perspective

The study examines the patterns of perceptions of retail banking consumers in respect to banking services in regional Australia from a corporate social responsibility (CSR) perspective. A novel two-dimensional measure of corporate social responsibility was used for this purpose. Findings from the analysis of levels of contentment/discontentment of bank consumers are noteworthy. Contrary to popular belief, consumers in this study not only portrayed a diversity of opinions on the corporate social responsibility roles of banks, but also showed general support for the two main opposing views of CSR which represent the classical and the emerging perspectives. The implication of these findings is that banks need to cater for both perspectives by maintaining a careful balance between pursuit of profits and being concerned with society-related issues. The observance of the triple bottom line as a practical philosophy for supporting the diverse interests of diverse stakeholders is recommended.