Instruction: Create 5 ESSAYS on the ff. questions below: 1. What is the difference between the CSR in a developing countries versus the CSR in a developed countries? Corporate social responsibility (CSR) is a concept in which businesses voluntarily incorporate social and environmental issues into their business operations and interactions with their stakeholders; it is about firms opting to go beyond minimal legal requirements and duties derived from collective agreements in order to address societal demands. Researchers Aparna Bhatia and Binny Makkar studied the nature and extent of corporate social responsibility (CSR) reporting procedures of firms in developing (BRICS) and developed (USA and UK) nations. CSR disclosure scores in affluent nations are greater than those in underdeveloped ones, according to the study's Total score for CSR disclosure is 53.5 percent in affluent countries and 49.4% in less developed nations. Human resources, community, environment, customer and product are just a few of the five categories of CSR that developed nations excel in. The findings of an independent sample T-test show that the mean disclosure score of developing nations is substantially different from developed nations. CSR disclosure gap between developing and developed nations is not worrisome, as indicated by the results of the study, CSR should be practiced by developing countries in spirit, not simply by word. For a balanced growth of the country, CSR should be more than merely filling up the pages in black and white. For instance, while having a high CSR disclosure score in comparison to each of the industrialized countries in the sample, India is still dealing with numerous challenges like as poverty, over-population, corruption, bad working conditions for employees, and environmental protection. Efforts of employees should be appreciated by giving flexible working hours, and consumer confidence should be created by providing real, accurate information about the product. As developing countries face a number of social and environmental challenges, corporations must strive to establish a healthy nation while keeping in mind the welfare of all stakeholders through CSR. Source:https://www.emerald.com/insight/content/doi/10.1108/JGR-0420190043/full/html 2. In the Philippines, how do companies address socio-environmental & legal compliance issues? Philippine corporations, especially big ones, are active in programs relating to education, the environment, poverty, and health and disaster relief. Industrial businesses have been impacted by an increased awareness of environmental issues. With plans to adopt a legislation mandating and regulating CSR activities, the Philippines is poised to take CSR to a new level. On its third and final reading, the House of Representatives enacted a bill that institutionalizes corporate social responsibility for both local and foreign firms. In the Senate, a similar measure is being debated, but it will only affect major taxpayer businesses in the country. Co-author of the bill in the House, Representative Macapagal-Arroyo, claimed that to encourage firms into CSR, stock corporations are banned from keeping surplus earnings in excess of 100 percent of their paid-in capital unless when justified by specified corporate expansion or CSR initiatives and programs approved by the board of directors. It also mandates that every local government unit support businesses in carrying out CSR initiatives in their jurisdictions. Furthermore, not only did everyone pull in the same direction, but the policies ensured that the entire nation was lifted from the bottom, producing a bigger and larger middle class that benefitted and contributed to the economic progress and prosperity of the country. CSR-related activities will encompass charitable programs and initiatives, scientific research, youth and sports development, cultural and educational promotion, services to veterans and seniors, social welfare, environmental sustainability, health development, disaster relief assistance, and employee- and employer-related CSR activities. 3. Is CSR good for economic growth? Does it help in preserving and protecting the environment? CSR consists of three primary components: internal responsibility, or the activities a company takes in regard to its workers, suppliers, and product quality; external responsibility, which refers to a company's interactions with community stakeholders and support for community-related development objectives; and environmental responsibility, or a firm's attempts to pro-actively manage it. Corporate Social Responsibility platforms must be utilized more effectively as a development tool that not only promotes greater environmental norms, but also alleviates poverty, ensures environmental justice, and improves standards of life for all. A company's image improves quickly when it practices CSR. Sustainable development is not just about conserving natural resources, but also about reducing energy costs, which has a beneficial impact on growth. Assuring a truly sustainable economy requires more than just sustainable economic growth. It is becoming increasingly apparent to corporations in Germany and across Europe that corporate social responsibility (CSR) isn't an extravagance, but rather Families and small businesses, in particular, frequently feel obligated to support environmentally friendly economic activities. Many business owners believe it is their obligation to give back to society and have a good influence on their employees and the environment. They view corporate responsibility as a normative and moral obligation. Sustainability, as a CSR imperative, is concerned not only with the preservation of natural resources, but also with the decrease of energy costs, which has a beneficial impact on growth. This means that CSR-compliant energy efficiency is the result of ethical business practices and costeffective cost management. With the different models of Corporate Social Responsibility, which of these models do you think is more applicable in the Mining Sector? In corporate social responsibility, stakeholders are treated ethically or responsibly. According to international conventions, addressing important stakeholders ethically or 4. responsibly involves treating them in a manner judged acceptable by them. The Pyramid, Intersecting Circles, and Concentric Circles were proposed as three models that reflect the actual notion of CSR. The last of the three is the most suitable for use in the mining industry. As with the pyramid, the concentric-circle (CON) model stresses interrelationships among the many corporate social obligations. It is similar to the IC model in that it highlights the economic function of business as its fundamental social duty. Underneath these commonalities, however, there are fundamental distinctions in the definitions of corporate When it comes to corporate social responsibility (CSR) and profitability, the pyramid describes the function of the corporation in terms of narrow self-interest ("be profitable"), whereas the CON model explains the same duty in terms of CSR. While the pyramid downplays the importance of noneconomic social responsibilities (such as those relating to law and ethics) while the IC model does not allow for any interrelationships between the different responsibilities domains, the CON model highlights the importance of noneconomic social responsibilities as encompassing and permeating the core economic responsibility domains. Due to its unusual concept of economic responsibility, which is not simply to be successful, but to be constructively profitable, this is the finest CSR Model for the mining industry. In the CON framework, the scope of economic responsibility is significantly larger and directly geared towards the benefit of society. According to the CED statement, the primary economic duty of the company in CSR terms is "to serve constructively the requirements of society—to the pleasure of society." Economic responsibility, in this perspective, is not only about creating money; it's about creating wealth that enhances the nation's quality of life, satisfying the needs and wants of people for products and services, and selling them at fair rates, giving employment and reasonable pay to the work force, increasing career possibilities in all sectors of society, and reducing poverty. In terms of economic responsibility, the stated goals below constitute the primary objective of a responsible and sustainable mining industry. Source: https://onlinelibrary.wiley.com/ 5. What do you think is the role of social responsibility in protecting the environment? The most significant of these principles is corporate social responsibility (CSR) for the society in which it is located, the safety and health of its products, and participation to a range of social activities from combatting poverty and pollution control, and the vital role it plays in sustainable development processes in its ongoing commitment to delivering services and commodities. Many organizations care about the environment and the surrounding society, but there are also many organizations who do not care about the environment and do not take any action to preserve it from contamination as a result of damaging it. Food is provided by the environment, as well as clean air and clean water, and the raw materials that these organizations receive from the environment are brought back to them as a wide variety of wastes of different shapes and species, which leads to rapid work to protect both humans and the environment from pollution and contamination. Industries and petrochemical firms are not philanthropic organizations, but their primary goal is to earn a financial return commensurate with their investment. Consequently, these industrial businesses accept their social and environmental obligations, which includes additional expenses that may not emerge from other rivals. By managing their environmental challenges, these companies give competitive advantage to others, as well as maintaining the reputation of their goods in the internal and external markets. It also aids in the completion of its responsibilities with various parties through its environmental commitment and the acquisition of numerous certificates in this sector, as the government's environmental public ecology supports the trend to preserve the environment from pollution. Unquestionably, encouraging organizations to accept social responsibility leads them to meet their environmental obligations and to assist their environmental management within their capabilities and duties, as this commitment is an important element of social responsibility.
