The primary purpose of this task is to discuss about the corporate social responsibility and ethics. Telstra Corporation has been chosen in the task. It is one of the biggest leaders in telecommunication industry. The main purpose of the company is to create a brilliant future for everyone and it is also using sustainability strategy to accomplish the objectives and targets. The CSR activities of Telstra have been explained in the task. Along with this, the paper also discusses that how the company engages with its stakeholders while initiating the business functioning and activities. The Carroll’s pyramid model and Wartick and Cochran’s model have also been discussed in the task. More detail of this paper has been elaborated below.
Telstra Corporation Ltd. is a biggest and leading telecommunication company that was formulated in 1975 in Australia (Telstra, 2018). It provides various internet and telecommunication products and services such as mobile, market voice, pay television and other services. There are around 32,000 workers employed in the corporation (Telstra, 2018). The firm wants to build and develop dynamic and innovative technology to provide various solutions to the customers efficiently. In today’s era, the organization is exploring and flourishing its business in a large extent. CSR and ethics are biggest part of the business that help in overcoming the competitors and also helps in attaining targets in the competitive market. Corporate social responsibility is also known as corporate citizenship. The CSR activities are used by the company to improve the community and stakeholders effectively. The main vision of Telstra is to increase and enhance the sale by providing unique and innovative internet and telecommunication products and services to the customers in the international market.
Corporate social responsibility may be defined as a management concept whereby multinational companies integrate environmental and social issues in their business activities, and interactions with their stakeholders (Albareda, 2008). In other words, CSR is an activity through which a firm attains a balance of environmental, economic and social imperatives. At Telstra, people believe that corporate social responsibility is an effective and value based approach to how the company conducts business activities, and leading people beyond legal conformity to make a favorable contribution to the societies and industries in which people participate. It has been found that Telstra is responsible for their own CSR activities. The company is continuously participating in CSR activities to meet the long term requirements of the business. In addition, Telstra regularly participates in the FTSE 4 good and ample of surveys and indices are done by the company. The CSR activities include the following (Telstra, 2018).
Community: Telstra people are donating and increasing funds for the Indian Ocean tsunami disaster. The employees of the company are donated around $1,561,280.27 to Asian tsunami relief aid funds. Along with this, the company is providing around $250,000 of services that includes staffing call centers for aid agencies, and rendering extra phone lines. Along with this, the company provides support young people and Australian children to reach their potential and develop strong societies in the global market.
Environment: Under CSR activities, Telstra also protect the environment to conduct business activities and operations successfully and effectively.
Workplace: It is noted that Telstra team celebrated international women’s day to promote them in a hassle free manner.
Apart from this, the company has launched an innovative life and career transition program to provide support to the workers. The company also promotes and encourages flexible leave options for the workers on individual contracts. In addition, the organization introduced the new and innovative business principles, standards of behaviors, ethics and new code of conducts to carry the business operations effectively. Beside this, Telstra provides ample of benefits to low income Australians by rendering wide range of internet products and services in the competitive market. Aside this, various health and safety programs are held by the firm to reduce the health issues of the workers (Telstra, 2008).
It has been found that Telstra is committed to excellence in transparency, accountability and corporate governance. It is required for the long term productivity, performance and sustainability of the firm and to protect and improve the interest of the shareholders as well as other stakeholders. The team of the firm regularly reviews and analyzes the governance arrangements to reflect development in expectations, regulation and market practices as suitable within the organization (Telstra, 2018). ASX corporate council’s corporate governance principles and recommendations are complied by the company to carry the business operations smoothly. The governance structure of the company plays an integral and vital role in helping the business and people as well. With the help of unique and effective corporate structure, Telstra has been able to set strategy and objectives of the business efficiently. This corporate structure also helps the firm to monitor the performance and efficiency of the workers. The standards of behavior can be set with the help of effective and unique corporate structure. The dynamic governance structure also helps the firm to maintain open and unique communication with shareholders and along with this, effective decisions are taken by the board within the organization (Telstra, 2018).
(Source: Telstra, 2018).
Carroll Pyramid for CSR entails the economic, ethical, legal and discretionary (philanthropic) expectations and needs that community has of the company at a particular point in time. This model creates a formation or infrastructure that provides support to define in some detail and to characterize and to frame the nature of the business responsibilities to the community of which it is a part (Curtin, Stanwick and Beddie, 2011). The four parts of the Carroll Pyramid have been detailed below. The four parts of Carroll’s Pyramid have been discussed below (Geva, 2008).
Economic responsibility: It defines the responsibility of the business of launching the products and services that are required by the community and selling them to make a profit.Along with this, economic responsibility is significant to perform roles and responsibilities effectively. It also helps in maximizing the earning per share. Telstra is increasing profitability and revenue day by day. The total income of Telstra Corporation Ltd. is around 26 billion Australian dollars in 2017 financial year (Statista, 2017). Economic responsibility is also important for Telstra to maintain strong and unique competitive position in the marketplace. Also, it helps in maintaining a high level of operating effectiveness and efficiency.
Legal responsibility: It is the second part of the Carroll’s pyramid that plays a foremost role to attain desired goals and objectives. The legal responsibilities of Telstra abide by the law and legislations. This responsibility suggests that the corporation should comply all the legislations, rules and regulations. Telstra has originated its policies and standards in such a way that it fulfills all the needs and requirement legally (Nalband and Kelabi, 2014).
Ethical responsibility: The ethical responsibility imposes ample of responsibilities on Telstra to act honestly, ethically and morally. For this purpose, the corporation makes effective and unique rules, regulations and norms and it also further build and improve code of conducts. Beside this, it is also important to identify and respect new ethical norms and rules adopted by the company. Aside this, it is also significant to recognize that ethical behavior and corporate integrity go beyond mere compliance with legislations and laws (Visser, 2011).
Philanthropic responsibility: It is in the top of the pyramid and further, it focuses on more effective things such as enhancing and promoting the quality of life of the subordinates. It is noted that various activities, programs and sessions are held by the company for the welfare of the employees. Moreover, it is also significant to guide the fine and performing arts (Dudovskiy, 2012).
(Source: https://research-methodology.net/carrolls-csr-pyramid-and-its-applications-to-small-and-medium-sized-businesses/)
Wartick and Cochran’s model divides its CSR responsibilities into the three segments that include processes, policies and principles. All these segments are discussed below.
Principle: It is one of the significant parts of Wartick and Cochrans’s model that divides its responsibilities into four segments such as legal, ethical, economic and philanthropy. It is an effective and unique part of Wartick and Cochran’s model. This segment focuses on the morale, ethics and code of conducts. It has been found that Telstra follows all the code of conducts and it also fulfills the legal responsibilities while initiating the business activities and operations globally. It complies all the rules, regulations and norms that are already explained in Carroll’s Pyramid model (Lindgreen and Swaen, 2010).
Process: It also explains the corporate social responsiveness that also categorizes into four layers such as defensive, reactive, proactive and accommodative. This layer explains the potential and capability of the business to react to the organizational changes raised in the community and it also monitors on the policies and standards of leaders in building and boosting the responses and reviews. In context of Telstra there CSR approach is proactive in nature just because this organization makes unique and effective policies, plans and standards for attaining desired objectives and goals.
Policies: Policies explains the social issues and further this layer includes three pillars including concern identification, issues analysis and response development. This segment of the model minimize astonish that could be get by Telstra while operating business activities smoothly and effectively. It also analyzes the approaches and standards related to CSR in a hassle free manner. Along with this, Telstra monitors on the identification and analysis of the issues and concerns and after analyzing the issues Telstra monitors on boosting the response (Valentine and Fleischman, 2008).
Telstra is liable to fulfill the needs, requirements and wants of the stakeholders. The company’s stakeholders are any group or individual that affects business operations and activities. The main aim of the company is to develop and enhance the quality relationship with focusing on trust, loyalty, commitment, mutuality and satisfaction. The organization is engaging with stakeholders in many ways including websites, surveys, market research and surveys. It is stated that the company focuses on all the attributes for the purpose of attaining the expectations of the stakeholders of the firm. The stakeholders of the firm have been detailed below.
Communities: The Company provides ample of profits to the communities such as non-profit organization. The firm also focuses on the health issues of the communities to protect their rights and responsibilities (Golob, Lah and Jan?i?, 2008).
Customers: The large companies, residential consumers, government and small medium enterprise are included in the customers. Telstra maintains reciprocal and dynamic relationship with customers to cope up with rivalries in the international market. National agreements are also done by the firm for the welfare of the customers.
Employees: The workforce of the company is large and diverse with approx 37,000 employees. Telstra provides safe and secure working environment to the workers to perform tasks and duties smoothly and successfully. It also motivates the followers to encourage and promote their productivity and efficiency.
Industry: It is considered one of the biggest stakeholders of the company that includes information and communication technology and telecommunication authorities.
Suppliers: It has been found that Telstra maintains strong relationship and collaboration with suppliers to accomplish the long term mission and vision. The company engages with approx 8,000 suppliers each year and further it spends approx $6billion for wellbeing of the suppliers.
Media: It also includes representatives from radio, print, online media, and TV. Along with this, the firm also collaborates effectively with employee trade unions (Rowe, 2010).
In this way, the organization fulfills all the needs, desires and wants of the stakeholders to build and develop a dynamic image in the minds of the customers. There should not be a gap between the productivity and stakeholders expectations within the organization. The effective stakeholder relationship also helps in maintaining sustainability in the workplace.
Conclusion
From the above mentioned limelight event it is concluded that corporate social responsibility and ethics play a vital and significant role in each and every company. No company can survive its business activities and operations successfully without maintaining code of conducts in the workplace. The above mentioned analysis indicates that how Carroll Pyramid and Wartick and Cochran’s model contributing in CSR and ethics. Apart from this, Telstra also maintain dynamic and favorable relationship with enormous stakeholders to carry out the business functions effectively
References
Albareda, L., 2008. Corporate responsibility, governance and accountability: from self-regulation to co-regulation. Corporate Governance: The international journal of business in society, 8(4), pp.430-439.
Curtin, P., Stanwick, J. and Beddie, F., 2011. Fostering Enterprise: The Innovation and Skills Nexus–Research Readings. National Centre for Vocational Education Research Ltd. PO Box 8288, Stational Arcade, Adelaide, SA 5000, Australia.
Dudovskiy.J. 2012. Carroll’s CSR Pyramid and its applications to small and medium sized business [Online]. Available from https://research-methodology.net/carrolls-csr-pyramid-and-its-applications-to-small-and-medium-sized-businesses/. [Accessed as on 27th June 2018].
Geva, A., 2008. Three models of corporate social responsibility: Interrelationships between theory, research, and practice. Business and society review, 113(1), pp.1-41.
Golob, U., Lah, M. and Jan?i?, Z., 2008. Value orientations and consumer expectations of corporate social responsibility. Journal of Marketing Communications, 14(2), pp.83-96.
Lindgreen, A. and Swaen, V., 2010. Corporate social responsibility. International Journal of Management Reviews, 12(1), pp.1-7.
Nalband, N.A. and Kelabi, S.A., 2014. Redesigning Carroll’s CSR pyramid model. Journal of Advanced Management Science, 2(3).
Rowe, A.L., 2010, July. Corporate kangaroos’ and dragons’ sustainability disclosures: A comparative analysis. In th Asia Pacific Interdisciplinary Research in Accounting Conference, Sydney, July.
Statista. 2017. Total income of Telstra Corporation Limited in Australian from the financial year 2015 to 2017 [Online]. Available from https://www.statista.com/statistics/810439/australia-income-telstra/. [Accessed as on 27th June 2018].
Telstra. 2018. Our Company[Online]. Available from https://www.telstra.com.au/aboutus/our-company. [Accessed as on 27th June 2018].
Telstra.2008. Corporate responsibility report 2008 [Online]. Available from https://www.telstra.com.au/content/dam/tcom/about-us/community-environment/pdf-e/2008-corporate-responsibility-report.pdf. [Accessed as on 26th June 2018].
Telstra.2018. Corporate governance [Online]. Available from https://www.telstra.com.au/aboutus/investors/governance-at-telstra, [Accessed as on 26th June 2018].
Telstra.2018. Corporate social responsibility [Online]. Available from https://www.telstra.com.au/content/dam/tcom/about-us/investors/pdf%20C/ar-other-information.pdf [Accessed as on 26th June 2018].
Telstra.2018.Governance at Telstra [Online]. Available from https://www.telstra.com.au/content/dam/tcom/about-us/investors/pdf%20D/governance-at-telstra.pdf. [Accessed as on 26th June 2018].
Valentine, S. and Fleischman, G., 2008. Ethics programs, perceived corporate social responsibility and job satisfaction. Journal of business ethics, 77(2), pp.159-172.
Visser, W., 2011. The age of responsibility: CSR 2.0 and the new DNA of business. John Wiley & Sons.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download