CSR (Corporate Social Responsibility) is an element that is increasingly becoming essential to all businesses across the globe. Many people view corporations to be exploitative to the economy, and that they are only established for the goal of maximizing profits without contributing to the society and economy in which they operate (Fray, 2007).
Corporate Social Responsibility is made up of four (4) main concepts and components. First (1) is the area of economic responsibility, which entails the responsibility of the corporation to provide the products and services. Second (2), is the legal objective that deals with the nature of the business operating in accordance with the laws and regulations. Third (3), is the concept of ethical meaning that dictates how the corporation plans or treats the stakeholders morally and fairly. The final (4) concept in the CSR statement refers to the philanthropic obligation of the business entity, which encompasses the voluntary task of the business to help all the societal stakeholders (Lindgreen, Swaen, & Maon, 2009).
Task One (1): Similarities and Differences between the CSR Statement of Etisalat and Du
When comparing the similarities in the CSR statements of both companies, it is clear that both corporations believe and appreciate the need to contribute positively to society. Additionally, both Du and Etisalat have expressed concerns in their CSR statement to the ecological and social behaviors of the society (Etisalat’s Annual Report 2017, 2018). However, when comparing the individual components of the CSR statements of both companies, it is clear glaring differences are evident. While Etisalat has expressed its interests in collaborating with local schools in the UAE by conducting workshops for Internet security, being active in most of the educational activities in the UAE, having a long-standing commitment towards supporting good health and being committed give back to the community, Du has vaguely stated its (ecological and social) CSR objectives and beliefs in its statement (Corporate Social Responsibility, 2018).
Task Two (2): Personal Reflection: Which CSR Statement is better?
In my opinion, the CSR statement of Etisalat is better than that of Du because it is comprehensive and addresses most of the components of an effective CSR statement (Lindgreen, Swaen, & Maon, 2009).
Task Three (3): Conclusion: How to improve on the CSR Statement of Etisalat
To improve the CSR statement of Etisalat, it should incorporate all the four main components of an effective CSR. The first step is to address all the economic and moral aspects of the business. Secondly, I would include the legal aspects of the business in the CSR statement, propose the ethical obligations of the business to all the shareholders, and conclude with its philanthropic obligation (Lindgreen, Swaen, & Maon, 2009).