SR&GR

• A corporation is a legal entity created by an individual or group of shareholders who have ownership of the corporation (through shares of stocks issued by the corporation) to in business activities
• Corporation


  A structure established by law to allow different parties to contribute to capital, expertise, and labor or the maximum benefit of all of them
• Not all corporations are formed with the objective of profit-making, such as charitable institutions, nonprofits, or nongovernmental organizations (NGOs)
• The majority of corporations are formed to provide a return for their shareholders
• Appealing attributes of corporations

  • Limited liability
  • Transferability of ownership
  • Legal personality
  • Centralized management
• In the Philippines, the 2019 Revised Corporation Code (RCC) introduced reforms such as the removal of the required subscribed / paid-up capital, and the introduction of the One Person Corporation (OPC)
• The RCC focuses on four areas of reforms: enhancement of ease of doing business in the Philippines; fortified stockholder protection and institutionalized corporate governance provisions; emphasis on corporate social responsibility; and improved policies and regulatory corporate framework
• Corporations have continued to grow and can sometimes influence government policy through political lobbying
• Corporate social responsibility (CSR)


  The responsibility of companies to act and behave ethically to satisfy their various stakeholders' needs
• Four dimensions of CSR (Carroll, 1991)

  • Economic
  • Legal
  • Ethical
  • Philanthropic
• Measuring CSR provides benefits such as helping organizations make better decisions on allocating resources with the greatest impact, improving processes that will make CSR initiatives more efficient, and providing more support for the business case
• Balanced Scorecard


  An integrated strategic measurement system that can include both tangible and intangible measurements to identify if goals are met in each of the four dimensions (financial, customer, processes, and learning and growth)
• Triple Bottom Line


  An accounting framework that describes three evaluation perspectives that contribute to creating greater value for the organization: economic (profit), social (people), and environmental (planet)
• Leadership has a key role in influencing CSR, as CSR and leadership are founded on concepts of service, integrity, and inspiration to others
• Kapwa


  A shared identity with others, which is considered an essential component of effective leadership in the Filipino context
• Mr. Chito Bauzon, AVP — CSR Marketing, SM Cares (SM Supermalls): 'Corporate Social Responsibility has become integral for most companies as it becomes an opportunity to wholly and directly engage stakeholders, creating shared value for both the organization and the communities it serves. It goes beyond profit. It becomes about serving the Filipino, and is a clear reflection of the values that your company stands for. With the current global trends on sustainability and community connectivity, I believe that CSR will be critical in mapping out company Policies, especially when it comes to serving the best interest of the greater public.'
• The future of CSR in the Philippines is promising and continually evolving, driven by awareness of the individual's contribution to society and the need for sustainable development
• Volunteerism and activism, full disclosure and transparency, and synergy among the socio-political-economic will be key drivers in furthering the progress of CSR in the Philippines