Name: Jomin Dennis M.

Miembro
Course/Section: MBA / BA503

ESSAY. The following questions revolve around corporate social responsibility.

Answer these questions based on your own perception. You may also cite concrete
and illustrative examples to further justify your answers.

1. The theory of social responsibility is based on an ethical framework in which

decisions and acts must first be morally and ethically verified. What role does
corporate social responsibility play in promoting ethics and social responsibility in
businesses? *
Corporate social responsibility (CSR) plays a vital role in promoting not only ethics
but also social responsibility in businesses. One of those roles is earning trust to
customers who are satisfied to the social responsibilities conducted by the business
owner to his/her community. Once trust was earned, customers of that business will
start to rise and will testify how responsible that business is. By that, they will be able
to earn not only trust but also bring more income to that particular business itself.

2. How can corporate social responsibility provide a balance between economic

progress and societal and environmental well-being? *
CSR can balance economic progress and societal and environmental well-being in
many ways. As an example, a distillery plant produces an unpleasant smell came
from its refinery plant inside their premises, community surrounding them were very
alarmed due to the health issues brought by the smell. The distillery plant must
conduct community activities that would help those who are affected by the problem
brought by their plant. They would also provide activities that could disseminate
information regarding not only the advantages but also the disadvantages of the
distillery plant in their community. By these activities, they will be able to educate the
society that the distillery plant contributes a lot in the progress of the economy.

3. Corporate social responsibility is based on four responsibilities: economic, legal,

ethical, and philanthropic. Explain how these responsibilities interact to make an entity
socially accountable. *
Economy is one of the most important factors in a country. A healthy economy
requires lots of considerations that might affect community in terms of health and
rights of people. As an example, a tobacco company gives a high percentage of gross
income to the country. However, their product obviously harming the people who
consume it. That company must provide necessary legal actions that is ethically
useful to the community. Aside from that, they should also be conduct projects that
could help the community a lot.

4. The Sustainable Development Goals (SDGs) are a set of 17 interconnected global

goals aimed at achieving a better and more sustainable future for everybody. How
would you relate corporate social responsibility to sustainable development goals? *
In achieving the 17 interconnected global goals by the United Nations, lots of financial
supports are needed. We all know that United Nations is a huge organization
consisting of various countries and high profiled human being. However, I am sure
that these people inside the UN alone cannot provide the full financial aspect and will
be needing help from other sectors all over the world. By this, Corporate social
responsibility will take place and big companies will contribute a lot in achieving these
genuine and prosperous goal of the United Nations.

5. The fair-trade movement encourages businesses to ensure that suppliers in

impoverished countries receive appropriate payment for their goods and services.
How does the fair-trade movement fit together with the triple-bottom-line theory of
corporate responsibility? *
The triple-bottom-line theory of corporate responsibility can be fitted to the goal of the
fair-trade movement in many ways. One of the factors is that the TBL focuses on the
sustainability in terms of economic, social, and environment. Businessmen in poor
countries like Africa must be fair enough to their consumers and must aim a lower
profit so that the consumers in their community can avail their products.

6. Why is it vital to consider stakeholders when it comes to social responsibility? *

This is because stakeholders are the one who have the financial capacity to invest in
a specific company. When stakeholders are no longer investing to a company, the
company might shutdown and it will affect not only the other stakeholders but also the
community surround them. When that company will be closed, the community will get
a lower income than the usual.

 
7. Companies undertake socially responsible activities in a variety of ways. Giving a
percentage of revenues to a certain charity or specified cause is one of the most basic
and often utilized practices. Discuss some of the issues and challenges that come with
implementing corporate social responsibility programs. *

Not all employees of the companies are righteous. Some of them are evil-minded and
loved to steal money from the company. I think, this is a big problem in many
companies. The program that the company are providing to the community becomes
the source of evilness of other people. As an example, the employee-in-charge in
distributing specific items are holding 1000 gift packs to the community. He/she will
not give it to the community 100% but rather give only 500 packs only and will
produce a fake list of recipients.

8. When socially responsible practices are incorporated or integrated into a company’s

basic business activities, they are simpler to execute, maintain, and receive a positive
public reaction. What are the many key factors to consider while developing corporate
social responsibility initiatives? *

In developing CSR initiatives in a company, we must incorporate it with the core value
of the company. It must be complying with the values provided by the company. It
should not only a good CSR, but it should also follow what the companies are aiming.
Aside from that, the issues and concerns of the customers should also be recognized.
The beneficiaries of the CSR are the customers and community, so, their voices must
be heard.

9. Corporate social responsibility (CSR) is a form of self-regulation practiced by

businesses with the goal of becoming socially responsible. What is the impact of this
approach on company operations in terms of making them more socially responsive? *
The benefits of the CSR will be given not only to the community/consumers but also
to the company itself who are socially responsible. When a company practiced the
CSR regularly, it will bring a huge impact to their sales because the community will be
impressed and trust them. By that, more customers will be encouraged to consume
their products due to their respective reputation brought by their compliance to the
CSR.

10. Lego is a toy manufacturer that has spent millions of dollars on environmental
initiatives and waste reduction. Reduced packaging, the use of sustainable materials,
and investments in alternative energy are among the company's ecologically aware
activities. In the Philippines, how is this strategy practiced in local businesses? *

In the Philippines, various companies are practicing CSR. Aside from providing goods
to the community, companies must also think of composite ways on how to diminish
negative impacts of their products to the environment. Nowadays, cities and
municipalities in our country are implementing local guidelines that the companies
within their premises must comply with. One example of these was the prohibiting the
usage of straws anywhere. Restaurants and stores are not allowed to give straws
together with the drinks that their customers purchased. Aside from that, use of
plastic bags are also disallowed in many places these days. With these accountable
actions of local companies, pollution can be eradicated