Integration of Corporate Social responsibilities into Philippine Companies

 

What is Corporate Social Responsibility?

Corporate Social Responsibility (CSR) refers to how a business considers its impact on social and environmental aspects. It is a commitment to create and develop guidelines that combine responsible practices into the daily operations of a business and look into the progress of its activities. The areas of concern are the well-being of the company’s employees, the community, and its environment.  This means the steps taken by a company in improving the way of life involving the people and its community.

Gone are the days when businesses have isolated themselves as a separate economic entity.

• Environmental awareness helps reduce the risks concerning the health of the community.
• Businesses, having enough resources, help charities and foundations, and support local community programs.
• Fair labor practices that are adopted by the company no matter where the employees are working (i.e., employees working in different branches abroad)
• Becoming an active volunteer is an excellent way to let the community know what people are working on a company. To do such an act means expecting nothing in return and can help address particular issues of the organizations that the company is supporting.

Companies are now making corporate social responsibility the core of their business. The strategies and plans involve their financial gain and concern about their surroundings. A company is now focused more on maintaining better relationships, first and foremost to their employees who are their allies in implementing their plans that will benefit all.

Transparency and Honesty

There is a need to build on trust and be clear on all the policies to successfully take any undertaking, process, and implementation of plans. This ensures a positive outcome with regards to earning the public’s trust. The corporate power is so strong that they can make a massive change within their community regardless of age, ethnic background, and individual interests.

What makes a company adopt CSR?

• The government somehow has limitations in providing assistance to the community, which has led companies to step forward and sustain the much-needed help. An example is during typhoons and other calamities. Together with the organizations they support, some companies can provide assistance and send out relief goods to disaster areas.
• Releasing relevant information of a particular company can influence decisions on some issues.
• Customers now are more actively aware of a company based on social performance. Technology has a significant part in this as social media has been one of the means of customers choosing the companies they can trust. The company’s public image is robust to customers because customers tend to patronize companies with a good heart to help the community or the environment.
• Investors are more carefully assessing the companies’ performance
• Employees seek more than how much they can earn from a company and look at its philosophies and business ethics that can match their principles.

Impact of adopting CSR:

          A.Company

• Greater productivity and quality
• Ability to attract and maintain employees
• Increased sales and customer loyalty
• Improved financial performance
• Heightened brand image and reputation
• Workforce diversity

         B. Community

• Corporate involvement: education, employment, and housing
• Charitable institutions
• Involvement of employees with volunteer programs  

       C. Environment

• Increased product durability
• Increased material recyclability
• Increased use of renewable resources
• Environmental management tools integrated into business plans

Management training is vital for making CSR strategies translate ideas into tangible outcomes that will deliver value. The increase in the involvement of private sectors in reaching out to non-government agencies helps widen the ability to provide services to the community.

Sustainability of CSR

It is not enough to just start one program and leave it at that without putting more effort into enhancing the said program for the benefit of the community. The increase in awareness in preserving the environment has called an action plan to ensure that what we do in the present can still benefit future generations. The World Commission on Environment and Development Report reports that our Common Future clearly stated how we can work hand in hand. To sustain a better environment and preserve its beauty. And correcting all other practices that may have put the environment at more risk.

The Benefits of CSR to a Company

• A strong CSR program ensures the company gets the desired media coverage.
• A company with a good CSR program creates positive customer feedback and increases its trust to gain more customers.
• Companies with CSR programs attract more job seekers to apply to their companies. Because of this, it would mean a positive working environment for them.
• Engaging the company’s employees in volunteer programs makes the investors think that the business is not all about profit but also about sharing what they have with those who need it. 

Ideas for CSR Activities:

• Donation in Orphanages, Home for the Aged, for the disabled
• Feeding Program for orphanages, senior citizens
• Education on wheels for the street children
• Livelihood program for unemployed men and women
• Low-cost housing projects in cooperation with government agencies
• Select deserving families in a community in starting up a small business
• Medical-Dental Missions to communities that have limited to no access to health services
• Disaster Assistance Program

CSR simply means taking the initiative in improving the lives of the community without asking for something in return or not just focusing on financial gains but on the improvement of the relationship of companies to its community to make it their way of living.

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You may contact Armando “Butz” Bartolome for questions and more information.

By email: [email protected]

FB Page: Armando Bartolome

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