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.

(a)  

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.

(a)  

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.

(a)  

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.

(a)  

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

(a)  

According to MA Velasco, CSR is

(a)  

The bayanihan tradition was cited by (a)   , the Philippines’ leading

manufacturer of refrigerators, washing

machines and the like, for its decision to

practice corporate citizenship..

BBCP

(a)  

PBSP

(a)  

Form of Assistance that improved economic conditions by promoting peaceful business operations

(a)  

The bayanihan tradition was cited by (a)   , the Philippines’ leading

manufacturer of refrigerators, washing

machines and the like, for its decision to

practice corporate citizenship..

Decade which corporate citizenship emerged and it involved policy formulation and networking

(a)  

A growing business model and

worldwide accepted and adopted by big corporation in the Philippines.

(a)  

Corporate Responses that frame the giving in terms of return to community

(a)  

4 CORPORATE RESPONSES

(a)  

three external drivers

(a)  

The president of the League for Corporate Foundation and Ayala

Foundation, Inc. defines CSR as doing business in a way that responds to the needs

and concerns of the different stakeholders: shareholders, owners, employees, the

customers, the community, the government and the public in general. Philippine CSR

practices are generally manifested through donations or activities by a company unit or

through corporate foundations’ activities.

(a)  

A foundation composed of hundreds of corporations,

defines CSR as a business principle which proposes that the long-term sustainability of

business is best served when profitability and growth are attained alongside the

development of communities, the protection and sustainability of the environment, and

the improvement of the people’s quality of life. This definition simply means companies’

adopting ethical, social and environmentally responsible business practices.

(a)