BABY JINKY A.

ZINAMPAN

ADVANCED GOOD GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY

ASSIGNMENT

1. Why should CSR become the focus of every organization?

Corporate social responsibility (CSR) should be the focus of every organization

because it helps build relationship with customers, thus it is the cornerstone of a successful
company and having a social responsibility policy can impact the buying decisions of
customers. Thus, being a socially responsible company can bolster a company’s image and
build its brand. By being active in the community, a company’s employees are engaging with
potential customers and in doing so, indirectly marketing the company in the process. When
companies are involved in the community, they stand out from the competition.

2. Bench marking from the top 20 companies: which program area is most concentrated?
Social responsibility is the program area that is most concentrated by the top 20
companies. By demonstrating diverse social responsibility of the top 20 organizations, they
attract positive publicity, help attract and retain top talent and improve relationships with
customers and their communities. The benefits can be far and wide, including client
retention, improved sales and financial issues.

3. What kind of work does the Philippine business for social progress do in Mindanao?
Philippine Business for Social Progress (PBSP) is the largest corporate-led social
development foundation in the Philippines. Committed to poverty reduction, PBSP is
the first of its kind in Asia leading the promotion and practice of corporate social
responsibility (CSR). More than 260 large, medium-scale and small businesses
comprise PBSP. Together, PBSP members help the poor rise above poverty and
become self-reliant.

Realizing that “helping people help themselves” was no easy task, the Mindanao
people capitalized on their strength as a corporate-led foundation to develop their
unique strategy of applying management skills and business sensibilities in their
approach to social development. During the PBSP Mindanao Membership meeting
held last September 29, PBSP Mindanao Regional Executive Committee Chair Miguel
Rene Dominguez said they had implemented different projects covering education,
health, and livelihood for the people of Mindanao. These are development indicators
that PBSP can help guide the member companies and craft direction for their
development endeavors. And this is how the member- foundations to be actively
involved in creating synergy and leverage on their other partners' plans, programs in
their respective communities,
BABY JINKY A. ZINAMPAN

ADVANCED GOOD GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY

GUIDE QUESTIONS:

1. Why is the presence of a financial officer a necessity in a company?

The Chief Financial Officer is necessary in a company because he usually reports to

the CEO (Chief Executive Officer), which is the managing director of a company. The
CFO has responsibility for a company’s financial concerns. They are also in charge
of managing, controlling and leveraging the budget of the financial department. It
is also one of the most important and demanding positions within a company as
well as in the business world. A CFO’s mission includes operating and managing the
business change and improvement management, together with the rest of the
corporate management. The CFO is responsible for treasury, cash flow and cash
management, financial management and external reporting. Controllership,
treasury, risk management, taxation, investor relations and internal audit are also
important tasks of a CFO. Today’s CFOs should have an overall view of the market
development and keep an eye on the future.

2. If you were appointed as the chief financial officer in your company, what are your
first three priority projects? Why?

 Performance Management
 Growth Strategy
 Risk Management
 If I were appointed as the financial officer in my company or agency, my top three
priority projects are performance management, growth strategy and risk
management. These projects help the company provide added value to the
business, something which can only really be achieved by bringing finance and
operations into line and processing data with digital technologies. Building on the
notion of performance management, today’s CEOs first and foremost expect their
Chief Financial Officers to advise and support them in setting and rolling out their
growth strategies from day one and not just once an investment decision is taken.
Thus, internal control is shifting towards the massive use of data to facilitate and
maximize the identification of potential and proven risks. There are two benefits: it
limits sample testing that is restricted in scope and optimizes the return on
investment of control operations. Cyber - criminality is a concern for many Chief
Financial Officers but is rarely part of their scope.

3. What are some of your insights from the subject?

Corporate Social Responsibility (CSR) mandates the companies to spend a certain

percentage of their income on the welfare of the society which can be in different
forms. CSR helps to make the companies more profitable & sustainable in the
following ways:

 Tax benefit is given on the amount spent as CSR which helps to increase the
profit of the company.
 CSR works as an advertisement for the company.
 CSR helps the employees understand the values of RESPONSIBILITY,
ACCOUNTABILITY, SELFLESSNESS, COOPERATION & ENVIRONMENTAL ETHICS
which help in the sustainability of the company. These ethical values are
imbibed by the employees & utilized for the growth of the company.
  The significance of Socialism gets boost & the companies strive to provide the
profit to different strata of the society aiming to fulfil the goal of Sustainable
Development.
 Different activities like cleaning, establishing seed banks, schools, solid waste
management units, electrification under CSR help to increase the standard of
living of the people & their income which increases demands & leads to
growth of the companies indirectly.

The need is to encourage CSR & use it with the aim if welfare not just for financial
profit by the company.