Question

• Define corporate social responsibility (CSR) in your own words. Once you have defined CSR, conduct research on your favorite Fortune 500 company and determine just how (or if) the company ranks from a CSR perspective. Provide the name of the company and a link to at least one reference from your research. Do your findings change the way you will support the company in the future? • Respond to at least one of your classmates. How do you think the company your classmate selected could improve its CSR? Provide at least one strategy and reason why you chose it.

Answer 1

Corporate social responsibility (CSR) is a self-regulating business model, that can take many forms depending upon the company and industry, it is accountable to itself, shareholders, and the public. To engage in CSR means that the company is operating in such a way that it is working for the benefit of society and the environment.

The benefit of CSR is that the company will help society while boosting its own business, it helps in making a strong bond between the corporation and the company, boost the morale of the employees and creates a good relationship between the employee and the employer as their business is accountable to the public they stay connected to the public at large.

The companies that adopt CSR are usually big companies that have established business and they have reached the point where they have to give back to society, the more visible and successful the corporation is, it has to follow a high standard of ethical behavior towards its competitors, peer group and other industry.

As these companies are already established in the business, it becomes their responsibility to give back to the society, and by adopting the CSR they contribute towards the social welfare, community upbringing and adopt a varied programme for the upliftment of the poor, and help villagers.

ISO 26000 has issued guidelines about what social responsibilities are there and help the corporation to channelize their effort and put CSR principles into effective action. As many stakeholders are from around the world who contributes in developing ISO 26000 the standard guideline represent the international consensus.

In the list of Fortune 500, Reliance Jio is the best example the company has revolutionized the telecommunication system in India, launched by the chairman of reliance industries Mukesh Ambani, it gave 4G internet service, free call issued a low-cost smartphone and is rolling out fixed broadband service as well, it crossed millions of subscribers in 22 months , the rural res got benefitted by this scheme, the farmers, students, and other poor people who had no means f communication now have a new tool to stay connected to the modern world, can seek education help and update themselves with the new technologies.

This company has, in fact, changed the rural lives, the Indian villages are still undeveloped, they did not have any means of communication that can convey their message speedily, with the help of low-cost smartphones they got connected to the world, and it has opened up new ways for the students, as they can benefit themselves with more global knowledge.

Reliance Industry is one of the biggest corporate houses of India, they have varied business from health to education, and they undertake much social welfare schemes and support rural areas.

http://fortune.com/change-the-world/reliance-jio/