Corporate Social Responsibility of China Telecom - Research Proposal Example

Corporate Social Responsibility (CSR) has become a corporate customer. Corporate Social Responsibility (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. Internal stakeholders include employees.

Normally, employees always prefer that their stakes such as a 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 environments. 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 relationships with them. The financial institutions want the companies to pay their outstanding debt and interest payments; the financial institutions always extend credit facilities after financial evaluation of the financial statements of the companies.

The local communities want the business operations of the companies must not create problems for them and they must not create issues such as noise, pollution, and so on. If the factories are generating pollution and nearby local communities observe increasing health problems, they would resist and may go for legal actions against such issues. The customers are the most important stakeholder for the companies as they are the major source of revenue for them. The customers expect that the companies do not comprise on the quality of products and services; they expect that the companies should not be producing and selling sub-standard commodities.

And among all the stakeholders, the physical environment is the most critical one. The physical environment includes land, oceans, rivers, seas, mountains, weather, and the ozone layer.