REACTION PAPER Prepared & Submitted By:

Re: Social Responsibility REGINE EINA CALISIN

September 3, 2022 MM-MPA, 1ST YEAR

Most large businesses were driven almost exclusively with a single goal in mind:
PROFIT. Maximizing profits was at the heart of every action taken or initiative pursued.

In the past few decades, however, more business leaders have recognized that they
have a responsibility to do more than simply maximize profits for shareholders and executives.
Rather, they have a social responsibility to do what’s best not just for their companies, but
people, the planet, and society at large.

This realization has led to the emergence of companies that identify as socially
responsible. Some companies would now label themselves as ISO-Certified.

WHAT IS SOCIAL RESPONSIBILITY?

Social responsibility in business, also known as corporate social responsibility (CSR),

pertains to people and organizations behaving and conducting business ethically and with
sensitivity towards social, cultural, economic, and environmental issues.

An organization has a variety of responsibilities to its stakeholders, including employees,

customers, vendors and stockholders. But it also has a social responsibility by conducting its
business in a manner that benefits society as a whole. This responsibility extends to individuals
who may not be stakeholders- those who do not directly participate in the company's financial
success or use the company's products or services.

These social responsibilities of organizations are governed by an international standard

under ISO 26000-2010. The latter mandates organizations to protect the planet, the
environment and the people in the conduct of their businesses. ISO 26000-2010 enumerated
core social responsibility subjects, namely: organizational governance, human rights, labor
practices, environment, fair operating practices, consumer issues, and community involvement
and development.

A company has a responsibility to not harm the environment. This responsibility was
once limited to not contributing to air or water pollution. Increasingly, the concept of
sustainability has become an aspect of corporate responsibility, as well. Sustainable business
activities include making products with recycled or renewable materials. 

Good environmental stewardship can help a company avoid damaging publicity or even
lawsuits and government fines brought on by issues such as dumping hazardous waste in lakes
or rivers, or the continuous illegal quarry operations damaging and creating imminent danger to
the residential areas around Mayon Volcano. Companies that take their social responsibility
seriously are viewed by everyone as better corporate citizens. 

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REACTION PAPER Prepared & Submitted By:
Re: Social Responsibility REGINE EINA CALISIN
September 3, 2022 MM-MPA, 1ST YEAR

Moreover, companies benefit from the skilled workforce available in the areas where
they operate, and from infrastructure provided, such as highways, airports and rail
transportation systems. Members of the community are many times also their customers. In
return for these benefits, a company is expected to get involved in making the community a
better place for everyone. 

Apart from these core subjects, ISO 26000-2010 likewise provides for the principles of
socially responsible behavior, as follows: accountability, transparency, ethical behavior, and
respect for stakeholders’ interests, the rule of law, international norms of behavior, and human
rights.