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I Corporate Social Responsibility Corporate social responsibility goes beyond making ones business or enterprise an economic institution directed towards profit whose main responsibility to society is to provide goods and services and to return maximum benefits to its shareholders CSR is now becoming an emerging need in businesses and most of the businesses these days that attain sustainable development are those who practice CSR CSR assesses a business not only from its financial success but also from how well it distributes some of its wealth back to the shareholders and the community and as well as how it contributes to both environmental and social issues Furthermore in developing countries like the Philippines CSR can become very beneficial The group showed examples of the CSR undertakings of companies like ABS-CBN and GMA and these acts definitely had a great impact in helping a lot of people In return these two companies continue to be strongly supported by the people II Benchmarking The essence of benchmarking is in getting what is good from other leading businesses and neglecting what is bad It helps businesses to go with the flow of the industry and not be left out through comparing the performance in the key business functions However benchmarking is not as simple as it may seem It requires a careful study on the practices that work best for other companies and why or why not it can work best for ones company as well Copying the methods of other booming companies does not necessarily result to the success of the following company III Total Quality Management Total Quality Management TQM plays an important role in customer satisfaction which keeps customers coming back and gaining new ones It is about balancing the costs of making a product or rendering a service and engineering it in such a way that the requirements of the customers are met or exceeded TQM makes
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