Business with a heart: case studies of corporate social responsibility

Abstract

In light of the philanthropic and charitable endeavors of private businesses in the Philippines, the researcher aimed to find out what were the driving factors that motivate business firms to practice corporate social responsibility (CSR). This qualitative-explanatory research worked with the hypothesis that "The corporate social responsibility of business firms in the Philippines does not only benefit the public sector but also the firms' projected image, long-term financial situation, and the overall condition of the firms. To solve the research problem, the researcher has conducted interviews with four (4) representatives of corporate foundations of companies listed on the top ten largest Philippinebased companies based on market capitalization. To aid her analyses, the researcher has also consulted a professor and corporate consultant on CSR, and an assistant commissioner from Bureau of Internal Revenue. The research has discovered that although mother companies of corporate foundations do not benefit much from tax incentives, they benefit from better image and reputation; better employee recruitment, retention, and motivation; and improved efficiency of operations benefits brought about by their CSR activities through their foundations. These benefits have positive and invaluable impact on the company's long term financial situation and overall condition, which attested the hypothesis of the research.