The paper "Beyond Corporate Social Responsibility: Oil Multinationals and Social Challenges" is a perfect example of a report on business. Corporate social responsibility (CSR) is a form of self-regulation principle that defines a business model. CSR came into the light in the early 1960s. The term was adopted following the development of the term stakeholders. In this context, stakeholders refer to people or parties affected by an organization’ s operations. In the book Strategic Management: a Stakeholder Approach, Freeman use the term to describe cooperate owners besides the shareholders. Thus, CSR can be viewed as policies aimed at deploying the proceeds of a company beyond its shareholders.
CSR policies acts or functions as an inherent mechanism that ensures compliance with business laws, ethics and international regulation. The issue of cooperate social responsibility has significant interest while addressing multinational companies such as the oilgiants. Multinational oil companies such as BP and Shell have been accused of neglecting their CSR leading to massive exploitations. Activities conducted by these companies have been blamed for increased environmental degradations and poverty among local communities. In the dawn of the twenty-first century, issues of cooperate social responsibility are even more critical.
An illustration of this would be the issue of ethics concerning the existing laws that relate to accounting structures. This paper explores Oil Multinationals and Social Challenges in Nigeria in relations to CSR principles. Rules control the dealings of people because they originate from penalties with the domestic or federal administration. Individuals tend to be wary of elevated authorities more than of the penalties of committing some mistakes. Corporate Social Responsibility (CSR) essentially advocates for business establishments to show responsibility towards environmental as well as social factors, and to be held accountable to its community for all its productive operations.
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