Corporate Social Responsibility of China Telecom Dissertation

Corporate Social Responsibility of China Telecom - Dissertation Example Center of discussion in this paper is Corporate Social Responsibility (CSR) that has become a corporate custom. The CSR has been defined as the inclusion of social and environmental concerns into business actions on a voluntary basis. The main purpose of CSR practices is to mitigate the concerns of various internal and external stakeholders and shareholders. The stakeholders have been defined as those who have stakes or interests in companies’ actions and processes. The internal stakeholders include employees. Normally, employees always prefer that their stakes such as rise in salaries, bonuses and fringe benefits must not be violated and they should be appropriately satisfied. The external stakeholders include regulatory authorities, suppliers, financial institutions, local communities, customers, competitors and physical and geographical environment. The regulatory authorities want that the companies must always be transparent and they should comply with the relevant regulat ory requirements. In addition to that, the regulatory authorities expect that the companies should remain responsible corporate citizens. The suppliers expect that the companies must not delay or violate contract terms and they should always process timely payments so that they also become in a position to sustain business relationship with them. The financial institutions want that the companies to pay their outstanding debt and interest payments; the financial institutions always extend credit facility after financial evaluation of the financial statements of the companies.... plifment 50 Supporting Public Events 52 Spreading Healthy Information 52 Guaranteeing Emergency Communications 53 Caring for employees 55 Environment Protection Practices 58 Summary 64 Conclusion and Recommendations 66 References 70 Introduction Corporate Social Responsibility (CSR) has become a corporate custom. The CSR has been defined as the inclusion of social and environmental concerns into business actions on a voluntary basis. The main purpose of CSR practices is to mitigate the concerns of various internal and external stakeholders and shareholders. The stakeholders have been defined as those who have stakes or interests in companies’ actions and processes. The internal stakeholders include employees. Normally, employees always prefer that their stakes such as rise in salaries, bonuses and fringe benefits must not be violated and they should be appropriately satisfied. The external stakeholders include regulatory authorities, suppliers, financial institutions, local co mmunities, customers, competitors and physical and geographical environment. The regulatory authorities want that the companies must always be transparent and they should comply with the relevant regulatory requirements. In addition to that, the regulatory authorities expect that the companies should remain responsible corporate citizens. The suppliers expect that the companies must not delay or violate contract terms and they should always process timely payments so that they also become in a position to sustain business relationship with them. The financial institutions want that the companies to pay their outstanding debt and interest payments; the financial institutions always extend credit facility after financial evaluation of the financial statements of the companies. The local