The leaders of some of the largest corporations in the Philippines at the time of massive demonstration in the early 1970 following the imposition of Marital Law and the adverse effect of oil shock that brought the Global Financial crisis pushed more Filipino families into poverty. Thus in year 2000 onwards, pushed by new challenges such as increasingly critical consumers of products and services who demand more from the companies that produce them. Companies are now being scrutinized as never before and they are made to measure up to standards of environmental sustainability, ethical behavior and governance structures.
Questions arise on what else they can do to make poverty history given their access to talent, resources, technology, information and capital. The quality of the company’s response to these questions - the way they express corporate social responsibility - has become as much of an asset as brands, plants and cash.
Fortunately, many corporations are already responding to these challenges. The battle cry now from the top caliber businessmen operating in the Philippines and to inspire others to follow suit to Corporate Social Responsibility to wit: “Corporate Social Responsibility or “CSR” is doing your business responsibly. It is going beyond compliance to the law, by becoming the supplier or service provider of choice (provision of quality goods and services), employer of choice (fair to employees, compliance with labor laws) and neighbor of choice (going beyond business to serve their communities through corporate citizenship).”– Jaime Augusto Zobel de Ayala, Chairman, Ayala Corporation
CSR is about giving back to the communities that we serve, sharing with the less fortunate and being able to help our fellow countrymen. CSR of the past was more of just philanthropy. But over the years, it has taken on a different meaning – all good citizens should be involved in social responsibility. It is