CSR LESSON 2 & 3

The notion of

philanthropy and concern for humanity form part of the Asian psyche.

According to a study published in the Journal of Consumer Psychology, consumers are more likely to act favorably toward a company that has acted to benefit its customers as opposed to companies that have demonstrated an ability to deliver quality products.

In a study by Boston Consulting Group, companies that are considered leaders in

environmental, social, or governance matters had an 11% valuation premium over their competitors. For companies looking to get an edge and outperform the market, enacting CSR strategies tends to improve how investors feel about an organization and how they view the worth of the company.

Another study by professionals from Texas A&m, Temple, and the University of Minnesota found that CSR-related aligning firms and employees serve as non-financial job benefits that strengthen employee retention. Workers are more likely to stick CORPORATE SOCIAL RESPONSIBILITY & GOOD GOVERNANCE| 4 around a company that they believe in. This in turn reduces employee turnover, disgruntled workers, and the total cost of a new employee.

By adhering to CSR practices, companies can mitigate risk by avoiding troubling situations. This includes preventing adverse activities such as discrimination against employee groups, disregard for natural resources, or unethical use of company funds. This type of activity is likely to lead to lawsuits, litigation, or legal proceedings that may harm the company financially or expose it to negative news headlines.

It is a set of voluntary standards meant to help companies implement corporate social responsibility.

ISO 26000 standards can certified.

• TRUE

• FALSE

There is no single defining rubric for evaluating the CSR of all companies.

• TRUE

• FALSE

According to MA Velasco, CSR is

The bayanihan tradition was cited by _________, the Philippines’ leading

manufacturer of refrigerators, washing

machines and the like, for its decision to

practice corporate citizenship..