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Velasco, Alex

Mina, Florianne Joy


Sabaoan, Angela Louise
3C

Ensuring Future Success: A Strategic Responsibility of Private Corporations

Corporate social responsibility (CSR) is a self-regulating business model that helps a


company be socially accountable — to itself, its stakeholders, and the public.1 It is an
organization’s obligation to consider the interests of their customers, employees, shareholders,
communities, and the ecology and to consider the social and environmental consequences of
their business activities. Corporations leave a huge impact on different areas of society based on
how they operate. Thus, by integrating CSR into core business processes and stakeholder
management, organizations can achieve the ultimate goal of creating both social value and
corporate value.2

This research paper aims to discuss in detail the importance of integrating corporate
social responsibility in the normal course of business of private corporations through strategic
and conscious planning and direction. It is to be emphasized that corporations do not exist solely
to acquire profits purely for their advantage but also to operate in an ethical and sustainable
manner that helps the society as well as the government in allocating services to the public
constituents. Private corporations are in a position which can help in the improvement of the
environment and alleviation of poverty. Furthermore, the State recognizes the indispensable role
of the private sector, encourages private enterprise, and provides incentives to needed
investments.3

1
Chen. (2018). Corporate Social Responsibility (CSR). Retrieved from https://www.investopedia.com/terms/c/corp-
social-responsibility.asp
2
Voors. Strategic Corporate Social Responsibility. Retrieved from https://onstrategyhq.com/resources/strategic-
corporate-social-responsibility/
3
1987 Philippine Constitution, Article II, Section 20