Introduction To Corporate Social Responsibility

When we are talking about large firms and corporations, we often hear the term corporate social responsibility (CSR). But, how is it associated with these companies? CSR is the continuing commitment by business enterprise to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. It is simply promoting positive social and environmental change. Large firms and corporations have CSR to contribute to a better society and a cleaner environment. As mentioned above, CSR is associated with large companies, but small and developing businesses have also this CSR. They also promote the same purpose as large firms do. This is

& Dumangas (April 2011), they cited that there is generally more acceptance of CSR in the Philippines compared to other Asian countries like Laos and Vietnam. They pointed out that there are already some domestic Philippine companies that practice CSR such as Ayala Group, Lopez Group of Companies, and Aboitiz Group of Companies. There are also MNCs operating in the country that are strong advocates of CSR, such as Coca-Cola, Nestlế and Unilever. However, they also mentioned that CSR among Philippine companies is that firms give money to the poor, support foundations, provide scholarships, disaster relief, and outreach activities. Thus, it can be observed that the trend of CSR practice in the Philippines is dominated by philanthropic

However, it is important to assert that the value of philanthropic CSR initiatives remains. This is understandable given the fact that in the context of a developing country such initiatives remain valid and legitimate because the government lacks the resources to provide for much needed public goods.
Majority of the members of the League of Corporate Foundations (LCF) have CSR initiatives in education. The priority issues of LCF members are environment, enterprise development, health, arts and culture. One-time events prevail –for instance, family day, sports fest, annual team-building activities, and medical missions. Several motivations for companies to undertake CSR initiatives include improving their reputation, doing good for society, supporting national development priorities, improving relationship with stakeholders and addressing problems affecting the company’s supply chain. Miral Jr. and Dumangas (2011) mentioned in their study that a growing number of societies and institutions practice CSR because governments by themselves cannot handle the social challenges that include rising poverty, widening income gap inequalities amid economic growth, weak education and health systems, and even global climate change. The government’s inability to provide public