Barbonio, Nicole C.

Good Governance & Social Responsibility 2022

Good Governance & Corporate Social Responsibility

Our subject, Good Governance, and Corporate Social Responsibility are used in a variety
of ways by individuals and organizations around the world to demonstrate their involvement in
activities that benefit society. These particular issues have provided solutions and, in some ways,
have raised some unanticipated questions and topics that have impacted the lives of the majority
of us.

At all levels, good governance promotes transparency, accountability, efficiency, and the
rule of law, allowing for efficient management of human, natural, economic, and financial
resources for equitable and sustainable development while also ensuring civil society
participation in decision-making processes. The importance of having a strong knowledge of
ethics was first placed on good governance and social responsibility. Ethics, often known as
moral philosophy, is a discipline of philosophy concerned with systematizing, defending, and
proposing conceptions of good and wrong behavior, according to Wikipedia. The word ethnos
comes from the Greek word for "character." Ethics is a critical component of successful
governance and becoming a socially responsible individual. Ethics includes two aspects: it
teaches us to distinguish right from evil and to commit to doing what is right, good, and proper.
Now, Corporate Social Responsibility (CSR) is a key concept in business ethics, based on the
stakeholder approach, that assumes a responsibility among firms to pursue social and
environmental goals in addition to profit maximization, as well as a responsibility among a firm's
stakeholders to hold the firm accountable for its actions. A social responsibility thesis states that
an institution, whether an organization or an individual, must act in the best interests of society
as a whole. Every individual or business has a social obligation to preserve a balance between
the economy and the environment. Every one of us should demonstrate social responsibility
because we should all participate in being socially responsible citizens of our country. In some
ways, Corporate Social Responsibility is an obligation that we should fulfill voluntarily and
enthusiastically. This applies not only to businesses but to everyone whose actions have an
impact on the environment, particularly society.

We must remember in business that we have many responsibilities to complete, not only
with our specific jobs in the firm where we work but also with our community and society.
Whether for-profit or not, a firm should contribute whatever it can to the development and
prosperity of its community. That, in my opinion, is what corporate social responsibility is all
about. According to reports, corporate social responsibility encompasses human rights, financial
accountability, political responsibility, and environmental responsibility. For instance, in all of its
commercial dealings with stakeholders like consumers, suppliers, lenders, the general public, and
individuals who are influenced by its operations, a firm must treat employees fairly and with
respect, as well as operate with integrity and ethics. It also has a responsibility to future
generations by protecting the environment and acting as a responsible neighbor or community
member. As a result of these factors, it is clear that corporate social responsibility is growing
more relevant to the government and the community, as it offers to address societal issues in
changing welfare environments.

Finally, as we move forward and face the realities of the world, good governance and
social responsibility should be taken into account. As a student, I must remember that good
governance and social responsibility are not just words to be learned; they must be felt, and we
must come to grasp the duty that goes along with them. We must learn to see that it is not only
about achieving success in our chosen sector but also about achieving success with the idealism
of good governance and corporate social responsibility.