Habaradas, Raymund B.
June 2013
Journal of Legal, Ethical & Regulatory Issues;2013, Vol. 16 Issue 2, p1
Academic Journal
While philanthropy is still largely regarded as "icing on the cake" (Caroll, 1991), some large Philippine companies have been engaged in philanthropic activities in light of the government's failure to adequately address social problems such as poverty, joblessness, and hunger. For some companies, corporate philanthropy has evolved from simply transferring resources (i.e., corporate giving) to being directly involved in community-based programs. When these corporate social initiatives (CSI) bring "social and economic goals into alignment" and improve a company's long-term business prospects, they enhance the competitive context of the corporation (Porter & Kramer, 2002), and provide strong justification for sustained philanthropic efforts. This paper presents the experience of four major Philippine corporations in implementing CSIs that provide both social and business value, thus adding to the empirical evidence supporting Porter and Kramer's proposition.


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