Corporate Social Responsibility of Selected Businesses in Cebu City, Philippines

Abstract

Corporate social responsibility (CSR) involves enhancing the personal satisfaction of the workforce and their families just as of the nearby network and society everywhere with the proceeding with responsibility by business to act morally and add to financial enhancement. This study determined the benefits of businesses from engaging in CSR programs. This study applied the descriptive method. This study utilized the researcher-made questionnaire to gather data on the characteristics of the business, the profile of the respondents as to years in the firm, the scope of activities of the CSR undertaken by the company and the benefits of the CSR towards the business enterprise. It was highly evident that the businesses undertook the following CSR initiatives or programs such as community development, information education, and teaching, environmental conservation and protection, and feeding program. It was also highly evident that the benefits that the business entity gained out of engaging in CSR programs or initiatives were positive public image and business sustainability. Moreover, it was also moderately evident that the other benefits gained from CSR were cost savings and tax incentives. The study concluded that the organizations that take social actions that are beneficial to the community, business society and the environment benefited from a myriad of dimensions such as improved public reputation and gained more patronage of its products and services that they offered. It was recommended that the proposed CSR model be adopted by the organizations that undertake various socially-beneficial initiatives.

Effects of Corporate Social Responsibility Initiatives on the Financial Performance of SMEs

“…In that case, such customers can convince other customers to support the business because, through the consummation of goods or services, those customers already support charities or the environment (The Elusive Green Consumer, 2022). Bueno et al (2019) have noticed a growth in the number of entities and corporate organizations engaging in Corporate Social Responsibility (CSR) for a myriad of benefits, wherein the most crucial factor is the ability to support the community where they operate and be open to societal demands thereby, CSR has demonstrated that some businesses addressed these considerations by allocating additional resources to CSR (Agan et al, 2016;Brammer & Millington, 2005;Lantos, 2001). However, management at some firms has objected, saying that further CSR spending is incompatible with efforts to increase profitability (Reverte et al, 2016).…”