A lack of giving

In his book Asian Godfathers, Joe Studwell argues that the Asian tycoon class has been much more the beneficiaries rather than the instigators of growth in the region. They have generated enormous personal growth but have done little to promote overall economic prosperity.

Growth came instead from a combination of small-scale entrepreneurs and the hard work and thrift of ordinary people. This is a huge contradiction, especially in a region that produced eight of the top 25businessmen in the world during the pre-financial crisis period.

Moreover,a study said that big businesses in the region have not done enough to alleviate social ills commensurate to their size.

Recently, Newsbreak magazine did a survey on corporate social responsibility (CSR) in the Philippines and found out that it is still largely experimental. In most of the companies surveyed, it is the CEO who initiates CSR programs. It is usually implemented by the corporate foundation and public relations group. Getting the other functional departments to embed CSR into the way the company plans and implements products and services is rare.

CSR in the Philippines still has a long way to go to make a huge impact in places where they are needed most – in education,health, community development, and research and technology. In the past 10 years, a total of P19 billion was poured by the country’s business sector into social development programs,which pales in comparison to other countries’ corporate giving.

The more successful the corporation, the greater its social responsibility. Corporate giving can make a huge dent in the host of resource gaps affecting our country. Further, establishing within one’s business a culture of generosity and kindness inspires trust and pride for one’s organization, which in turn drives it to achieve more.