Corporate Social Responsibility in Asia Pacific Region and its mounting Importance

Essay by peace09University, Bachelor's February 2004

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In this paper, we draw attention to the concepts of Corporate Social Responsibility (CSR), its emergence factors and its mounting importance to a company's survival.

Having the focus on Asia Pacific Region, we will further highlight the growing demand for CSR in this region. The basis that drives the urgency to study this topic is due to the fact that CSR is becoming more significant, important and critical to a company's success. Knowledge of CSR is essential for all companies on the globe.

Additionally, this paper will delve into an Asia Pacific Company, Manila Electric Company (Meralco), devoting to evaluate their CSR responsibilities accomplishment based on the Carroll's Four-Part Definition of CSR. At the same time, corresponding stakeholders' interest and involvement to particular issues will be identified to enhance our understanding of the various impacts that different stakeholders' will experienced under different circumstances.

This paper will be providing an in-depth study on Meralco and will be concluded with an overall assessment of the Meralco's CSR performance.

2Corporate Social Responsibility (CSR)

CSR generally refers to business decision-making linked to ethical values, compliance with legal requirements, and respect for people, communities and the environment. A company that follows CSR will operate its business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. This involves having a comprehensive set of policies, practices and programs that are integrated throughout business operations, and decision-making processes that are also supported by the management.

2.1Developments of CSR

The primary driver for CSR originated from United States and Europe in the 70's and 80's from campaigns run by activists groups such as Greenpeace and Friends of the Earth. Their actions have successfully changed the government and companies' perspective on the necessity for CSR.

On a business perspective,