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Mini Case Study 2 - ddxfdg

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Financial Accounting (AE 111)

199 Documents
Students shared 199 documents in this course
Academic year: 2022/2023
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Technische Universiteit Delft

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Mini Case Study 2

“The Ideal Partner"

Scentimental Inc., a Filipino SME owned by Mrs. Jin Balmadres, has been in operations for over 20 years. She takes pride in supporting the local manufacturing industry with her design creativity. Given their success in the retail and wholesale of décor products with retail giants SM and All Home, as CEO, Mrs. Balmadres has intermittently supported charities over the years. But she felt that the efforts of her company in this area were wanting. Moved by the much- needed relief for the residents affected by the Taal Volcano explosion in early 2020, she was advised by her management consultant to work with a foundation. She did some research on her own on various potential partners. She found that she can either go directly to her desired beneficiaries, work with an established foundation, or through an intermediary. She decided to follow her consultant's advice and work with a foundation. She had her secretary set up an appointment with her chosen foundation the following week.

Reflection

Questions for discussion:

  1. What are some of the questions that the CEO needs to clarify with her chosen partner in their initial meeting? Some questions that the CEO needs to clarify with her chosen partner in their initial meeting are:

  2. What are the mission, vision, and goals of the certain foundation?

  3. What are the strengths, weaknesses, opportunities, and threats that the chosen foundation can give to the company?

  4. Is the chosen foundation really reliable, trustworthy, and beneficial to the people?

  5. What are the advantages and disadvantages of the chosen foundation?

  6. How will this impact the business?

  7. How can the CEO be assured that her contribution/donation will be put to fair use? Clarify how she can demand accountability from the foundation. Answer:

Mrs. Balmadres can ask for a track record of the foundation and she can evaluate it. Also, she can ask for a report of where the money has been used. Mrs. Balmadres can also suggest some of her ideas on how to maximize the use of her donation. She should follow up and keep track of the foundation's moves every now and then. As for

demanding accountability, Mrs. Balmadres and the Foundation can sign an agreement of their deal and have witnesses so that she can use this as leverage if anything should happen. Another thing is Mrs. Balmadres should ask the foundation to communicate with her for updates about the progress of their relief operations and for them to be open with their plans and actions to her.

  1. Explain some ways on how she can monitor and/or ensure the effectiveness of her CSR initiatives.

Mrs. Jin Balmadres has supported charities intermittently over the years but she found out that it's not enough. With the explosion of the Taal Volcano, she felt the need for more relief for the residents. She followed the advice of her management consultant to work with an established foundation, her chosen "Ideal Partner.". In order to monitor the effectiveness of her CSR initiatives, she should visit her beneficiaries so that she would know the real situation. By doing so, she would be able to give the specific needs of the victims and provide a certain amount of funds for their expenses and other needs. She could also require the foundation to furnish/update her with its activities in order to ensure the effectiveness of her CSR initiatives.

  1. Should she require her employees to engage in the activities spearheaded by the foundation?

Yes. Requiring her employees to engage in the foundation's activities is a good idea because it could build collaboration and communication within the organization. Through this simple employee engagement, Mrs. Balmadres's company and its partnership with the foundation can opt to work together and build social capital as relationships develop over time.

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Mini Case Study 2 - ddxfdg

Course: Financial Accounting (AE 111)

199 Documents
Students shared 199 documents in this course

University: University of San Agustin

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Mini Case Study 2
“The Ideal Partner"
Scentimental Inc., a Filipino SME owned by Mrs. Jin Balmadres, has been in operations
for over 20 years. She takes pride in supporting the local manufacturing industry with her design
creativity. Given their success in the retail and wholesale of décor products with retail giants SM
and All Home, as CEO, Mrs. Balmadres has intermittently supported charities over the years.
But she felt that the efforts of her company in this area were wanting. Moved by the much-
needed relief for the residents affected by the Taal Volcano explosion in early 2020, she was
advised by her management consultant to work with a foundation. She did some research on
her own on various potential partners. She found that she can either go directly to her desired
beneficiaries, work with an established foundation, or through an intermediary. She decided to
follow her consultant's advice and work with a foundation. She had her secretary set up an
appointment with her chosen foundation the following week.
Reflection
Questions for discussion:
1. What are some of the questions that the CEO needs to clarify with her chosen partner in
their initial meeting?
Some questions that the CEO needs to clarify with her chosen partner in their
initial meeting are:
1. What are the mission, vision, and goals of the certain foundation?
2. What are the strengths, weaknesses, opportunities, and threats that the
chosen foundation can give to the company?
3. Is the chosen foundation really reliable, trustworthy, and beneficial to the
people?
4. What are the advantages and disadvantages of the chosen foundation?
5. How will this impact the business?
2. How can the CEO be assured that her contribution/donation will be put to fair use?
Clarify how she can demand accountability from the foundation.
Answer:
Mrs. Balmadres can ask for a track record of the foundation and she can evaluate it.
Also, she can ask for a report of where the money has been used. Mrs. Balmadres can
also suggest some of her ideas on how to maximize the use of her donation. She should
follow up and keep track of the foundation's moves every now and then. As for

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