Hello, PIDS friends! In support of the 19th Development Policy Research Month (DPRM), which we are celebrating this September, we are featuring the #PIDSFactFridayDPRM2021Edition. Our issue for this week is about Ethical Business.
The COVID-19 pandemic has disrupted business operations on a massive scale. This led many establishments to reduce their activities or close down. The pandemic has also resulted in new environmental problems, such as the surge in the volume of wastes, which exacerbated prevailing climate change issues.
On a positive note, the crisis has made businesses rethink their values and pushed them to go beyond profit and consider the well-being of the planet and people. This embodies the principle of “stakeholder capitalism” or looking after the interests of all stakeholders and the society at large, not just of business shareholders, while pursuing productivity and continuity.
Some business groups in large free-market economies have already started a movement toward stakeholder capitalism. In the Philippines, more than 20 business associations signed the “Covenant for Shared Prosperity”. The Philippine Securities and Exchange Commission has also supported elements of stakeholder capitalism enshrined in the Code of Corporate Governance.
Browse through the slides to know more about ethical business, which is among the topics featured in this year’s Development Policy Research Month (DPRM) celebration. Visit https://dprm.pids.gov.ph/ to know more about this year’s DPRM theme and activities.
The content of this slide show was based on the DPRM/APPC concept note.
Download the complete set of slides here: https://www.facebook.com/permalink.php?story_fbid=6833033126722270&id=126427974049519
#DPRM2021ResetRebuild #DPRM2021BetterPhilippines
The COVID-19 pandemic has disrupted business operations on a massive scale. This led many establishments to reduce their activities or close down. The pandemic has also resulted in new environmental problems, such as the surge in the volume of wastes, which exacerbated prevailing climate change issues.
On a positive note, the crisis has made businesses rethink their values and pushed them to go beyond profit and consider the well-being of the planet and people. This embodies the principle of “stakeholder capitalism” or looking after the interests of all stakeholders and the society at large, not just of business shareholders, while pursuing productivity and continuity.
Some business groups in large free-market economies have already started a movement toward stakeholder capitalism. In the Philippines, more than 20 business associations signed the “Covenant for Shared Prosperity”. The Philippine Securities and Exchange Commission has also supported elements of stakeholder capitalism enshrined in the Code of Corporate Governance.
Browse through the slides to know more about ethical business, which is among the topics featured in this year’s Development Policy Research Month (DPRM) celebration. Visit https://dprm.pids.gov.ph/ to know more about this year’s DPRM theme and activities.
The content of this slide show was based on the DPRM/APPC concept note.
Download the complete set of slides here: https://www.facebook.com/permalink.php?story_fbid=6833033126722270&id=126427974049519
#DPRM2021ResetRebuild #DPRM2021BetterPhilippines
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