Reaction Paper On CSR
Entrepreneurship 1: Unleashing the Entrepreneurial Spirit
Fritz Jay T. Dalawampu B-3R November 5, 2014
Does it really pay off to be good? Many firms are able to believe that doing corporate social responsibility (CSR) really pays off especially in the firms as well as in the firm’s stakeholders and society. However, what is a CSR in the first place? According to researches, CSR, also known as corporate initiative, is all about evaluating and taking up the liability of the company’s impact on the environment as well as in the welfare of the society. Moreover, this term probably gives emphasis on the efforts of a firm that go beyond what is being needed by the regulators or environmental groups.
Being able to give the definition of CSR, we can now tell exactly why it really pays off to do CSR. According to many firms here in the Philippines, they believed that doing CSR really pays off since it affects the corporate reputation. Furthermore, doing CSR leads many businesses and companies here in our country to predispose acts in the appellation of the business ethics. In addition, in doing so, corporations obtain merit awards and accolades from award-giving bodies that acquaint the achievements in spreading the betterment of the environment and society. To further elaborate and understand this, there will be four examples of companies in the latter part of this paper that do CSR and how CSR really help them to be more established and well-known in the Philippines. In relation with the previous, in the Philippines, it is a mere fact that there are many companies that really do CSR, but what we are going to focus with are the four well-known companies and organizations that made their name in the business world. Such companies and organizations that we are going to focus with are ABS-CBN Corporation, Ayala Land Corporation, Coca Cola Company, and the One Meralco Foundation. First is the ABS-CBN Corporation which is known for being one of the greatest media
Fritz Jay T. Dalawampu B-3R November 5, 2014
Does it really pay off to be good? Many firms are able to believe that doing corporate social responsibility (CSR) really pays off especially in the firms as well as in the firm’s stakeholders and society. However, what is a CSR in the first place? According to researches, CSR, also known as corporate initiative, is all about evaluating and taking up the liability of the company’s impact on the environment as well as in the welfare of the society. Moreover, this term probably gives emphasis on the efforts of a firm that go beyond what is being needed by the regulators or environmental groups.
Being able to give the definition of CSR, we can now tell exactly why it really pays off to do CSR. According to many firms here in the Philippines, they believed that doing CSR really pays off since it affects the corporate reputation. Furthermore, doing CSR leads many businesses and companies here in our country to predispose acts in the appellation of the business ethics. In addition, in doing so, corporations obtain merit awards and accolades from award-giving bodies that acquaint the achievements in spreading the betterment of the environment and society. To further elaborate and understand this, there will be four examples of companies in the latter part of this paper that do CSR and how CSR really help them to be more established and well-known in the Philippines. In relation with the previous, in the Philippines, it is a mere fact that there are many companies that really do CSR, but what we are going to focus with are the four well-known companies and organizations that made their name in the business world. Such companies and organizations that we are going to focus with are ABS-CBN Corporation, Ayala Land Corporation, Coca Cola Company, and the One Meralco Foundation. First is the ABS-CBN Corporation which is known for being one of the greatest media
References: (2013, August 16). Retrieved October 26, 2014. What is Corporate Social Responsibility? Retrieved from http://www.investopedia.com/terms/c/corp-social-responsibility.asp. (2012, October 15). Retrieved October 25, 2014. ABS-CBN Corporation CSR. Retrieved from http://iskwiki.upd.edu.ph/index.php/It_Pays_To_Be_Nice:_Corporate_Social_Responsibility_and_Audience_Perception_of_Companies#.VEvxVCLF8vw. (2012, August 12). Retrieved October 26, 2014. Ayala Land Corporation and CSR. Retrieved from https://ph.news.yahoo.com/ayala-land-wins-aim-2012-award-corporate-social-080304151--finance.html. (2013, November 25). Retrieved October 26, 2014. Coca Cola Social Responsibility. Retrieved from http://www.smartplanet.com/blog/bulletin/coca-cola-shows-corporate-social-responsibility-in-philippines/.