
Week 4: SOCIO-ECONOMIC IMPACT STUDY
Quiz by Camille Garcia-Santiago
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Corporate Social Responsibility (CSR) has become a growing trend among businesses today.
Anew business, especially one that is innovative and focused on bringing some new product/service to the market, is always welcome to the consumer who is looking value for his money.
One good way is to innovate the product; you may come up with the new features that are not found in the existing competing goods.
Anew business will also provide opportunities for the suppliers and investors.
Demand for the goods provided by the suppliers will decrease.
New businesses mean employment for the Filipinos.
Communities benefit from business sponsored activities that include sports fests, and wellness programs, livelihood projects, micro financing, and even medical and dental missions.
The national government has revenues to finance its projects, to pay government officials, to build schools, to improve the military, to promote peace and order all over the country, to build housing for the poor, and to provide health services and improved welfare programs for the people.
As long as a new business can provide goods and services, better quality of goods and more options, the consumer cannot benefit from it.
Acquisition of health and assets can now follow both for the business owners and the employees they hire.