THE IMPACT OF RESPONSIBLE CONSUMPTION AND PRODUCTION ON FINANCIAL PERFORMANCE OF CONSUMER GOODS COMPANIES IN PORT HARCOURT METROPOLIS IN RIVERS
Keywords:
Employee Engagement and Training, Transparency and Reporting, Product Design and Innovation, Sustainable Production Method, Net profit, responsible consumption and production, Financial PerformanceAbstract
This study aims to examine the impact of responsible production and consumption on the financial performance of consumer goods firms in the Port Harcourt metropolitan of Rivers state. Based on the Triple Bottom Line theory, which investigates CSR, this study used a survey research technique. This study's primary data came from 18 out of 30 consumer goods companies in the Port Harcourt Metropolis, Rivers state. A standardized questionnaire was sent to the management cadre of the selected consumer goods enterprises in order to collect data. The data were analysed using descriptive statistics, Pearson moment correlation coefficient and regression technique added by SPSS version 22.0. The result of the empirical study revealed a strong positive relationship between the impact of Responsible Consumption and production on Financial Performance of Consumer Goods companies in Port Harcourt Metropolis in Rivers. Also, Employee Engagement and Training, Transparency and Reporting, and Product Design Innovation, show a significant positive relationship with net profit whereas Sustainable Production Method shows an insignificant positive relationship with net profit. The study concludes that impact of Responsible Consumption and production on Financial Performance of Consumer Goods companies in Port Harcourt Metropolis in Rivers the study recommends among others all employees engaged should be train and retention for effective performance to increase profitability
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