The Impending Of The Wireless Telecommunications Of Verizon Wireless

Many believe that business entities should have an ethical duty to be socially responsible, to work towards increasing its positive effects on society while decreasing its negative effects. Many organizations look for opportunities to be socially responsible while also creating shareholder wealth.

When an organization partakes in “proactive behavior…for the benefit of society,” it is deemed as socially responsible (P. 155). However, prior to labeling a organization as socially responsible, it is important that we first identify what specific elements of proactive behavior constitute a socially responsible business. To begin, for an organization to be considered socially responsible on the highest level, it must take a proactive approach to doing business. This is defined as “[taking a] approach to social responsibility in which an organization goes beyond industry norms to solve and prevent problems” (P.155). In addition, it is standard for a socially responsible organization to incorporate a larger scope of stakeholders, to include external stakeholders, in their business decisions to create positive externalities, and mitigate negative ones, to benefit society as a whole.

Verizon is a major telecommunication provider in the United States. The company is the market leader, with $110 billion revenue and $2.4 billion in profit (MSN Moneycentral, 2012). Verizon has steady revenue streams that are largely based on a subscription model. It has several business segments, including wireless (63.3% of revenues) and wireline (36.7%) (2011 Verizon Annual Report). Most of this report will therefore focus on the wireless business, not only because this is the largest business that the company operates but because it is a rapidly growing and evolving business as well, a function of the rapid pace of smartphone adoption in America.

Difficult to define, ethical responsibility is the ability to recognize, interpret and act upon multiple principles and values according to the standards within a given field and/or context (Investopedia LLC., 2015). Social responsibility is the concept that businesses develop a positive relationship to the society and environment, which they operate; and not focus, solely on maximizing profits (Stan Mack, 2015).

Verizon Communications is one of the largest international communications companies of providing communication, information and entertainment products and services to consumers, businesses and governmental agencies. If you wanted to look them up on NASDAQ or the NYSE, you can use the symbol VZ. Verizon comes from humble beginnings, starting with an invention in 1876 by Alexander Graham Bell, the telephone. They were the predecessor company to American Telephone and Telegraph Company, which formed with 7 original shareholders in 1885. Over time, the company became Bell Telephone Company, Bell Atlantic, then in 2000, the $25 billion dollar merger to Verizon Communications. Over the course of history from then

promote their net worth. Commitment to use the highest ethical standards in every decision made as well as to maintain the highest standards to always guarantee quality and reliability by Verizon Wireless.

1. Mission, vision, and primary stakeholders Verizon's corporate mission statement is published in the introduction to the 2010 report, "to enable people and businesses to communicate with each other. We are also committed to providing full and open communication with our customers, employees and investors" (Verizon, 2011a, p. i.). This conveniently outlines the primary stakeholders, with customers owning the service delivered through contracts they commit to, employees obviously having a stake in compensation, benefits and retirement, and investors including institutions as well as individuals. Other stakeholders include the general public who benefit from corporate giving and responsibility, and the suppliers and distributors, their shareholders and employees who earn profit and wages generated directly and indirectly as part of the Verizon value chain, and perhaps the taxpayers who enjoy public services from direct and indirect (capital gains) taxes thereby.

Verizon wireless is a joint venture between U.S. based Verizon communication and U.K. multinational giant

The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.

“As a leader in communications, Verizon's mission is to enable people and businesses to communicate with each other. We are also committed to providing full and open communication with our customers, employees and investors”

Ethics involve an individual's moral judgments concerning what is right and/or wrong. Individuals or groups of people are responsible for making decisions in an organization (shaw, 2008). Decisions within the organization are always emanate from the company's culture. However, the decision to act ethically and morally requires an individual judgment. Thus, members of staff are obligated to make decisions that reflect their right course of action (shaw, 2008). This involves rejecting the option that could lead to the greatest short-term gain. The leadership of most organizations stresses the need to adopt ethical behaviors and corporate social responsibility. Ethical dealings can earn the organization various benefits. For instance, it may attract more clients to the business thus boosting sales; employees could be motivated to stay longer in the organization thereby reducing recruitment expenditures. Ethical behaviors could also earn the business a favorable reputation that could attract investors. Categorically, a lack of social responsibility or unethical behavior may hurt the firm's reputation and scare away investors. Sales and profits could fall in the process.

Social responsibility is built on a system of ethics, in which decisions and actions must be ethically validated before proceeding. If the action or decision causes harm to society or the environment then it would be considered to be socially irresponsible. Being socially responsible means that people and organization must behave ethically and sensitivity towards, social, cultural, economic, and environmental issues. Striving for social responsibility helps individuals, organization and government to have a positive impact on development, business and society. Often, the ethical implication of decision/action are overlooked for personal gain and the benefits are usually material. This frequently manifest itself in companies that

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

Some business leaders are taking good moral decisions and the reason behind that idea is that the core part of their business strategy is to create mutual benefit for both wider society and business as well. The growing desire of top management is to find out ways to create mutual benefit for both the organizations and the stake holders but the public still believes that companies are greedy entities which make decisions only in their self-interest, even at the cost of greater public welfare. It is the utmost obligation of the companies to discern the social issues while making the decisions (Yashiro, Yoshida and Suzuki, no date; Godwin, 2006; Schwab, 1996; Godwin, 2008; Werhane, 1998; Werhane, 2002; Heath, 2008; Mehalik and Gorman, 2006).

A growing number of organizations approach corporate responsibility as an extensive collection of beliefs and concepts, integrated into company functions through management guidelines and methods along with decision-making processes. Businesses promoting corporate responsibility usually have actually formally-written principles, strive to work as good citizens, and emphasize a constant dialogue and their stakeholders, such as companies, staff and communities.