Good Governance and Social Responsibility PDF

GOOD GOVERNANCE Good governance refers to the systems, processes, and principles that guide how organizations make decisions and manage their operations. By: PLEÑOS, Jerson  KEY PRINCIPLES: Transparency: Clear decision-making processe...

GOOD GOVERNANCE Good governance refers to the systems, processes, and principles that guide how organizations make decisions and manage their operations. By: PLEÑOS, Jerson  KEY PRINCIPLES: Transparency: Clear decision-making processes. Accountability: Responsibility for actions. EQUITY Fair treatment of all stakeholders. Responsiveness: Addressing stakeholder needs. SOCIAL RESPONSIBILITY - Social responsibility is an ethical framework suggesting that organizations and individuals should act in ways that benefit society as a whole. KEY ASPECTS: Positive Contributions: Enhancing societal well- being. Addressing social and environmental Beyond Profit: issues. - Good Governance and Social Responsibility are foundational for ethical and effective organizational practices. - They ensure that organizations not only achieve their goals but also contribute positively to society and the environment. THE NATURE OF BUSINESS IN TERMS OF GOOD GOVERNANCE By: SONGCUYA, Dayanara It revolves around ethical practices, transparency, accountability, and sustainability. Good governance ensures that a company operates responsibly, balancing the interests of stakeholders, including shareholders, employees, customers, and the broader community. It involves setting clear policies, adhering to legal standards, and fostering a culture of integrity. By doing so, businesses can build trust, enhance their reputation, and achieve long-term success. EXAMPLE In 2024, a significant example of good governance in the Philippines comes from Globe Telecom. The company launched its “Sustainable Globe” initiative, which includes a comprehensive plan to reduce carbon emissions, promote digital inclusion, and enhance data privacy.  IMPORTANCE OF THE TOPIC In today’s competitive and socially-conscious environment, good governance and social responsibility are crucial for the long-term sustainability and reputation of businesses. Companies that adhere to these principles not only contribute positively to society but also build trust and enhance their reputation, which can lead to greater success and resilience. By: CLATA, John IMPACT OF GOOD GOVERNANCE ON SOCIAL RESPONSIBILITY By: CABUAL, Jomar  GOOD GOVERNANCE PLAYS A CRUCIAL ROLE IN SHAPING A COMPANY’S SOCIAL RESPONSIBILITY. HERE’S HOW: 1. Policy Development: Good governance helps create clear policies Guide a company’s social responsibility efforts. 2. Stakeholder Engagement: Actively communicate and work with their stakeholders, such as employees, customers, suppliers, and the community. SOCIAL RESPONSIBILITY Social responsibility in Good governance is a critical the context of business aspect of social and good governance responsibility in business. refers to the commitment Good governance involves of a business to behave transparency, accountability, ethically and contribute and responsible decision- to the well-being of making by the company's society. leaders and stakeholders. By: CALAMBA, Desirey  THE COCA-COLA COMPANY - Known for its commitment to sustainability and community engagement. A business that primarily aims to generate profits for its owners or shareholders. KEY POINTS: Balance between financial goals and social responsibility Sustainable practices and community investment EXAMPLE Unilever: Known for sustainable packaging and reducing environmental impact while pursuing profitability. By: VICERA, Heartily Jade An organization that focuses on social missions and does not distribute profits to owners or shareholders. Key Points: Focus on social impact Accountability and transparency EXAMPLE Habitat for Humanity: Builds affordable housing through donations and volunteer work, aiming for social good rather than profit. RELEVANT AND TRENDING ISSUES By:MANAGING, Julia and ALAG, Monique  Inflation and Cost of E-commerce Fraud in the Living Philippines Rising inflation rates are impacting consumer The Philippine e-commerce sector is poised to surge in value to P969 billion by 2026 as more Filipino shoppers prefer to shop purchasing power, leading businesses to adjust online. This booming market offers many opportunities for online pricing strategies to maintain profitability while retailers and for businesses. Unfortunately, this growth also addressing customer affordability. presents the same level of opportunities for e-commerce scam artists and fraudulent groups who target online stores and customers. Corporate Sustainability and Digital Inclusion and Climate Change Action Social Equity The ongoing digital divide has become a major issue in the As the Philippines is highly vulnerable to climate change, there is Philippines, especially with the rapid shift towards digital increasing pressure on businesses to integrate climate resilience transformation due to the pandemic. Companies like Globe and sustainability into their operations. This includes reducing Telecom is being pushed to expand access to digital technologies carbon emissions, using renewable energy, and promoting and services for underserved communities, promoting digital environmental protection. Corporations like Ayala Land have inclusivity. This includes initiatives that provide internet access to committed to large-scale environmental projects, such as river remote areas and programs that educate people on digital rehabilitation and eco-friendly developments, to address these literacy. challenges. CONCLUSION GOOD GOVERNANCE, SOCIAL RESPONSIBILITY, AND THE NATURE OF BUSINESS ARE ESSENTIAL CONCEPTS THAT GUIDE ORGANIZATIONS IN THEIR DECISION-MAKING, OPERATIONS, AND SOCIETAL IMPACT. BY EMBRACING GOOD GOVERNANCE PRINCIPLES, ORGANIZATIONS CAN ENSURE TRANSPARENCY, ACCOUNTABILITY, AND EQUITY, LEADING TO BETTER DECISION- MAKING AND STAKEHOLDER SATISFACTION. SOCIAL RESPONSIBILITY INVOLVES CONTRIBUTING POSITIVELY TO SOCIETY AND THE ENVIRONMENT, FOSTERING A SENSE OF PURPOSE BEYOND PROFIT. UNDERSTANDING THE NATURE OF BUSINESS ALLOWS ORGANIZATIONS TO ALIGN THEIR OPERATIONS AND GOALS WITH THEIR CORE VALUES AND THE NEEDS OF THEIR STAKEHOLDERS, LEADING TO SUSTAINABLE GROWTH AND SUCCESS. By: GALLETO, Justin