ABSTRACT FOR MY FIRST PAPER ON CORPORATE COMMUNICATIONS

A COMPARATIVE ASSESSMENT OF THE APPROACHES AND PRACTICES OF CORPORATE SOCIAL RESPONSIBILITY BY ECONET AND NATIONAL RAILWAYS OF ZIMBABWE (NRZ).

This research focuses on the application of Corporate Social Responsibility (CSR) by PR departments at Econet and NRZ. Econet and NRZ are the two corporations that operate in Zimbabwe but with different focus of business and areas of specialisation. As part of excellent PR practices CSR/CSI is modern PR that mutual benefit both the corporations and the community they serve as proposed by Grunig (2001). Hence in the study the research will outline and assess CSR programs offered by Econet and NRZ to benefit the surrounding communities as part of excellent PR. However, a comparative assessment approach between Econet and NRZ PR departments will be used. Albeit the fact that the study used both qualitative and quantitative methods of information gathering, largely qualitative methods were used in this study. Face-to face interviews and questionnaires interviews and document analysis inter alia were used. The most important thing about these two corporations is that they have international recognition and strong PR departments that are part of the management. Econet is one of the largest telecommunication company in Zimbabwe that is currently operating in seven countries, while NRZ is a parastatel that specialises in rail-road transport. In addition, while Eonet is a privately owned company on the other hand, NRZ is a parastatel. It is therefore important to assess the application of CSR by Econet and NRZ, despite the nature and background of the two corporate organisation in Zimbabwe. Also to be noted and assessed is whether the PR departments are in charge in initiating and implementing the public centred CSR programmes. Furthermore, several theories from public relations and communications discipline such as the 3C-SR Model, corporate philanthropy, corporate charity or altruism, two way symmetrical, agenda setting , open system model of PR, public opinion and many others will be used in assessing the application of CSR by Econet and NRZ.

IMF stance on Europe's debt crisis

THE BBC NEWS said that ;the International Monetary Fund (IMF) has told the eurozone bloc to speed up budget cuts or risk eroding the confidence of financial markets.
In a hard-hitting report, the IMF said the current "crisis management" was no alternative to fundamental economic restructuring. It is believed that the IMF report suggest that the economic crisis was due to "unsustainable policies".

The EU officials hoped that the official go-ahead for the 750bn euro ($893bn; £618bn) fund - first announced last month - will calm investors who are worried about the lack of a safety net for European governments who cannot repay mounting debt.

In other developments, EU finance ministers agreed to design new rules that will allow nations to intervene before countries become too laden down by debt - essentially meaning national budgets should be shown to European partners before they are fixed at home
The British Prime Minister David Cameron is quoted in the BBC News warning that dealing with the deficit would be "unavoidably tough" and affect "our whole way of life". An emergency budget detailing the cuts is being held in two weeks.

Further sovereign debt worries and the possibility of a double-dip recession consumed European markets on Monday. Reliable sources said that, Hungary has been the latest country to stir investor concern after government officials compared the country's fiscal position with Greece late last week.

The BBC also said that the IMF, which is contributing to the rescue fund, continued: "The current euro area crisis results from fiscally unsustainable policies in some countries, delayed repair of the financial system, insufficient progress in establishing the discipline and flexibility needed for a smooth functioning of the monetary union, and deficient governance of the euro area."

The organisation said that some eurozone countries needed to open their trade markets and loosen employment regulations in order to avoid "anaemic growth" in the coming years.
The EU loan scheme, which ministers rubber-stamped on Monday, is aimed at preventing troubled economies having to borrow at high prices on the open markets, exacerbating their problems.
The markets expect that Portugal, Ireland, Spain and Italy are most likely to call on help from the fund.

However, it is said that accessing emergency loans would be "strictly conditional" on recipients agreeing to certain criteria such as spending cuts - just as with the bail-out agreed for Greece, said EU economic and monetary affairs commissioner Olli Rehn.

The financial rescue package includes a special purpose vehicle to borrow up to 440bn euros for emergency funds.