Question

1) Mention a profitable business in the country Oman which apply corporate social responsibility and explains how important the activities provided by those businesses from a managerial accounting perspective

2) Mention another profitable business in the country Oman which apply corporate social responsibility and explain how important the activities provided by those businesses from a managerial accounting perspective

at least 400 words please

Answer 1

Omantel is leading profit making company in Oman with 38.14 % profit as % to equity. In Omantel, Corporate social responsibility is deeply embedded in corporate philosophy. The key fundamentals that define their CSR philosophy is rooted in their passion and commitment to enrich social and economic fabrics of Sultanate. Their vision extends beyond the sustainable management of their everyday businesses and encourages community development.

The company has been implementing Corporate Social Responsibility (CSR) programmes that aim to entrench the use of technology in society and build an inclusive digital environment, where everyone has equal access to technology.Omantel’s CSR is based on sustainable initiatives aimed at enhancing the role of the Sultanate in the digital sector. In this regard, Omantel have invested in a number of social initiatives to develop society, which, in turn, would strengthen Omantel’s contribution to supporting innovators and the promotion of a knowledge-based economy.
Between 2014 (the year Omantel’s sustainability framework was implemented) and 2019, Omantel as part of its responsiblity committment invested OMR 12,759,388 in event sponsorship, community, and environmental initiatives, achieving one year in advance the 2020 goal set in 2014.In addition to the direct contribution, Omantel has a strong commitment to facilitate communications for Organisation’s which require a channel to spread awareness about education, health and environmental campaigns. Omantel supports different non-profit Organisations providing a free short-code service where subscribers can donate to support several causes on a monthly basis, free of charge. In 2019, 10 non-profit Organisations benefitted from this initiative and a total of 318,406 OMR was collected and distributed.

Recently they have joint hands with Sultan Qaboos University and mOmkin and launched Internet of Things lab in SQC as part of their CSR initiatives, which also comes in line with Omantel’s 3.0 strategy and reaffirms our commitment to enrich the digital experience in the Sultanate. The IoT lab is the first-of-its-kind in Oman and it is equipped with state-of-the-art technologies, including modern computers with several IoT applications. It will serve researchers, faculty members, undergraduate and postgraduate students in doing scientific researches.

In cooperation with the Ministry of Education, Omantel has launched an integrated laboratory for renewable energy at the Science and Technology Center of Ad Dakhiliyah Governorate. Such as wind power, solar energy, underground energy, hydrogen energy and how to benefit from it through field training and educational experiments. It is expected that the laboratory will target more than 45 thousand students and institutions Administrative and educational supervisors, educators and parents and those interested in this area annually.

Omantel Olympics of Coding aims to discover and encourage students who possess the skills and mental abilities that are essential to the logical thinking of programming, to draw their attention to the importance of information technology in our time, and what we are witnessing today from the techniques of the Fourth Industrial Revolution. On programming programs such as C++, to prepare a generation of students who are engaged in programming. More than 4,000 students from around the world participated in the preliminaries and qualified 30 students to compete in the final stages.

Mehnati is a training program in mobile phones maintenance and repairing, 100 Omani job seekers have graduated from Mehnati. The Program is one of the premier programs launched for the first time in Oman in partnership between Oman Telecommunications Company (Omantel) and Sadara Institute. This program aims to provide the trainees with the skills and knowledge necessary for the maintenance of mobile devices as well as the identification of different operating systems and software maintenance. This is a unique area that the labor market needs in Oman. It will open up new opportunities for Omani job seekers to start their business.

Omantel, in partnership with 'Rudha' and 'Point' startups, launched the first Omani open e-learning platform 'Edlal', to prepare young Omanis to join the workforce by equipping them with the required skills and knowledge for the market, in addition to enriching the Arabic online content.

Omantel has done huge more initiatives as part of CSR policy

Omantel's goal for 2020 even includes RO 10 millions in community support programs, supporting communities and protecting the environment in which it operates.