Comparative analysis of corporate social responsibility practices of selected Philippine conglomerates

Issue Date

1-2012

Abstract

This study analyzed corporate social responsibility practices disclosed by selected conglomerates namely: Ayala Group of Companies: Lopez Group of Companies: Petron: Corporation: Philippine Long Distance Tel. Inc.; and San Miguel Corporation. By comparing the performance indicators, the aspects, and the extent of emphasis, given on them by the conglomerates ' Corporate Social Responsibility (CSR) practices findings revealed that majority of the conglomerates ' CSR practices were concentrated on the Global Reporting Initiative's (GRI) Social Performance Indicator. With 63% of the total number of CSR activates, the highly prioritized aspect of the Social Performance Indicator was the Community proving that the core of CSR in the Philippines is still on community involvement. As such, it is important to have a measure that reflects the approach used by the conglomerates to manage their impacts, both negative and positive, on the communities in which they operate.. The impacts of operation refer to the social implications, such as community health and safety education, livelihood projects, resettlements, local culture, and cultural heritage. CSR demands that commercial success be gained through positive practices that aim to promote general welfare. Therefore, these business conglomerates should act in consonance with the country's social development, whether through community assistance, educational programs, employee development, or business innovations for the welfare of the society. The results also affirmed the Community-Building Theory which allows the role of public relations as a tool for bringing back the sense of community in the society and giving way to more CSR activities promoting this cause. After all, sustainability cannot be achieved without mutually beneficial relationships as well as the people's participation.

Source or Periodical Title

U.P. LOS BAŇOS JOURNAL

Volume

X

Page

27-42

Document Type

Article

Frequency

annually

Language

English

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