FUNERARIA DE PARAISO SOCIO ECONOMIC ASPECT 40

Socio Economic Aspect

Every business has the primary purpose of obtaining profit

from their economic endeavors. Despite this, they cannot go away

with the fact that they operate in a social environment. This

aspect discusses in sufficient detail the responsibilities and

relationship of the business towards the society within which it

operates.

City of Baguio

Baguio is one among the most populated cities in the

Philippines. Favorable climate and green landscapes make it one

of the most convenient areas for putting up a business and for

finding a job. There is a considerable number of business

ventures in the area which adds up to the progress of the city’s

economy.

The funeral home will contribute to the advancement of the

city by providing jobs to its constituents and by contributing

wealth to it. With properly sanitized and well-maintained

facilities, the city would actually benefit from the addition of

a new business in its vicinity.

Government and its Agencies

The government is the backbone of every society. Without

its regulations, businesses would cease to flourish. However, in

order to efficiently impose its regulations, it needs funds –

which is provided by its constituents.

Putting up a business benefits the government in many ways.

For starters, a business generates income and part of which is

forwarded to the government as tax. As defined in the Benefit-

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Received Theory of taxation, constituents pay tax and the

government use funds from tax to serve and protect their welfare.

More employment within the city may also lessen the

government’s allocation on benefits like unemployment benefit.

With more tax revenues, the government may also spend more on

education and health services.

Community

The business will provide counselling sessions to bereaved

families in order to help them cope up with their loss. This will

result in more productive and faster recuperation for grieving

families. It is also a part of the business’ corporate social

responsibilities to give support to different charities. Through

these, the company’s relationship towards the community within

which it operates will be maintained to be amicable.

Employees

Labor is the driving force of every business. They play the

most important role in achieving the objectives of the business.

In recognition for this valuable contribution, the business will

make sure to take good care of its employee. Funeraria de Paraiso

ensures that every employee will be given just wage and adequate

compensation for them to enjoy a good quality of life. They shall

be given security of tenure, as the business will not resort to

predatory five-month contracts. The employees will also be

trained to grow and develop as productive and efficient workers.

They will also be given the right to form a labor union for the

protection of their socio-economic interests within the business

society. The business will promote “on-probation” employees to

permanent if they contributed six months of highly satisfactory

labor to the firm. Permanent employees should also receive merit

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for loyalty to the business such as discounts on life plans as

well as free life plans in case of long-term loyal employees.

Customers

The business’ customers will be the sole source of our

earnings. Given that fact, the business will ensure that all

customers will receive fair service from the funeral home. Any

concerns will be dealt with accordingly by the management.

Affordable funeral services will be offered because it is not an

uncommon knowledge that the cost of dying in our country is high.

This will ensure that even middle men or the poor can afford a

proper burial service. However, the business will make sure that

high quality service will be provided during funeral services.

The business will consider the grieving families as their own and

will show that they empathized to each grieving member by means

of offering a safe haven wherein they could overcome grief. One

of the business’ CSR is to provide counselling to grieving

families in order to speed up their process of recovery from

their loss.

Competitors

In business, competition is inevitable. The business have

seven competitors within the city of Baguio. Among them, St.

Peters and La Funeraria Paz are the major competitors. However,

the business ensures that it will not resort to unethical acts in

order to have an edge over its competitors. False information or

advertisement will not be effectuated. The business will

guarantee fair dealings in its endeavors, in order to maintain a

healthy market competition with its competitors. Healthier

competition will surely result to more reasonable prices and

improved quality of service among competing businesses.

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Suppliers/Vendors

The business needs its suppliers and vendors in order to

meet their demands in terms of economic goods. It will safeguard

the interest of its suppliers or vendors by means of fair

dealings. Liabilities will be settled on time to ensure good

credit relationships. Long term commitments will also be

established given that they also provide high quality goods.

Future Plans

As a part of the community within which it operates

Funeraria de Paraiso plans on conducting activities which are

worthwhile to the community. The priority projects of the

business are the following:

Estimated
Priority Project Name Brief Description
Project Cost

1 Valentine’s The said event is P150,000

Day the top priority of
Reminiscence the business. It
Program will be an annual
gathering during
February 14th wherein
bereaved members
gets a chance to
celebrate the
remembrance of their
deceased loved ones.
Tickets will be sold
to participants.
Food and
refreshments will be
served. Part of the
proceeds from the
tickets will be
allocated to
charities within the
city of Baguio.

2 Paradise City Baguio is known to P150,000

Tree Planting be the Summer
Drive Capital of the
Philippines because
of its delightfully
cool climate and
lush vegetation. As

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a member of the
community, the
business will
initiate tree
planting drives in
different areas in
order to preserve
the city’s beauty.

3 Another Chance Many orphanages are P200,000

of Paradise found within Baguio.
Community The business plans
Outreach on visiting and
offering ample
amounts of goods to
the people inside
these orphanages.
Small programs will
also be conducted.
Lastly, the business
will be contributing
a portion of its
profit to such
establishments.

Table 5. Future Projects and Activities of Funeraria De Paraiso

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Corporate Social Responsibility

Corporate social responsibility (CSR) programs arose from

the understanding that businesses function as a part of society—

the success of each deeply affects the other. The importance of

corporate social responsibility has increased in recent years, in

large part due to the growing influence of millennials.

Economic Responsibilities

Business organization was the basic economic unit in our

society. As such, its principal role was to produce goods and

services that consumers needed and wanted and to make an

acceptable profit in the process. At some point the idea of the

profit motive got transformed into a notion of maximum profits,

and this has been an enduring value ever since. All other

business responsibilities are predicated upon the economic

responsibility of the firm, because without it the others become

moot considerations.

Community. Every company's first responsibility is its economic

responsibility which means a company must attain its objective of

maximizing its profits. The business will produce services that

the community wants and to maximize profit for the owners

consequently contributing to the betterment of the community.

Employees. The business will provide diversity, health and

safety, training and mentoring, employee relations, and wages and

benefits that will sustain the needs of its employees.

Legal Responsibilities

Society has not only sanctioned business to operate

according to the profit motive; at the same time business is

expected to comply with the laws and regulations promulgated by

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federal, state, and local governments as the ground rules under

which business must operate. As a partial fulfillment of the

"social contract" between business and society firms are expected

to pursue their economic missions within the framework of the

law. Legal responsibilities reflect a view of "codified ethics"

in the sense that they embody basic notions of fair operations as

established by our lawmakers. They are depicted as the next layer

on the pyramid to portray their historical development, but they

are appropriately seen as coexisting with economic

responsibilities as fundamental precepts of the free enterprise

system.

Government. Next to ensuring that company is profitable, ensuring

that it obeys all laws is the most important responsibility,

according to the theory of corporate social responsibility.Legal

requirements as established by the government will be duly

accomplished. The business can be expected to fulfill its

economic goals within the statutory requirements and legal

frameworks.

Ethical Responsibilities

Economic and legal responsibilities are the two big

obligations of a company. After a company has met these basic

requirements, a company can concern itself with ethical

responsibilities.

Environment. The activities performed by the business will

promote environmental awareness and its impacts on the living and

non-living systems will be taken into consideration ensuring that

no harm will be caused to further damage the environment.In the

process of the development of its business, Funeraria de Paraiso

is committed to the implementation of pro-active sustainable

activities such as the environmental preservation with full

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consciousness of the importance of its Corporate Social

Responsibilities. Environmentally friendly business practices can

reduce business risk, improve reputation, and drive market

opportunities.

Philanthropic Responsibilities

Philanthropy encompasses those corporate actions that are

in response to society’s expectation that businesses be good

corporate citizens. This includes actively engaging in acts or

programs to promote human welfare or goodwill. Examples of

philanthropy include business contributions to financial

resources or executive time, such as contributions to the arts,

education, or the community. A loaned-executive program that

provides leadership for a community’s United Way campaign is one

illustration of philanthropy.

Tribute for Angels. Funeraria de Paraiso provides memorial

service free of charge to the family who lost their little angel.

Let’s move forward. Helps the family of the deceased to cope up

with their loss through counselling.

Commemorative gifts to priest. Grants mementoes to parish priest

and church leaders for their act of kindness.

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