The paper 'Corporate Social Responsibility' is a perfect example of a Management Literature Review. The 21st-century companies are faced with increasing demands for ethics which are defined by the owners, shareholders, directors, and management. The elements of ethics work alongside the objectives and guarantee the right balance between the company’ s interests and the rights of the clients, employees, business partners, suppliers, and society at large. Ethics trickles down to form a culture that is then operationalized in the functioning as values, behaviors, and beliefs providing predictable pattern actions. Companies that assume strong cultures have subsequently achieved higher results as they promote a focus on the manner and the way of doing things.
Corporate social responsibility accounts for integrated self-regulation in the business model. The company promotes a built-in mechanism to monitor and ensure its active compliance with the set law, ethical standards, and various international norms. In such cases, embraced responsibilities promote positive impacts of the company’ s activities in its environment, for employees, communities, consumers, the public sphere, and stakeholders (Lindgreen & Swaen 2010). These terms have been a spotlight where multinational corporations whose impacts are experienced differently by the general entities occur.
The companies do not have to rely on the government to overly regulate them in cross-border, national, and local operations but has to take initiatives according to the overarching precepts set by all the actors and as per the expectations. The company has to integrate CSR into its mission stands and uphold it in developing and applying principles for different problems and in the business environment. Even when there is no formal legislation developed and enforced, the general will of the company will strive to support the endeared culture, ethics, and corporate social responsibility.
In the long run, the company raises its level of national competitiveness to contribute to economic and social development in its regions of operations and prosperous social environment (Andersen & Skjoett-Larsen 2009). British Petroleum (BP) which deals with gas and oil as a multinational company is currently the third-largest energy and fourth-largest company in the world. Its operations in different areas involve exploration and production of gas and oil, It then refines, distributes, and markets its products which are rigorous undertakings which require constant and strong measures to ensure that they remain relevant in pursuance of corporate social responsibility, ethics, and promotion of a culture in operations.
As by 2012, it operated in 80 countries in different parts of the globe with a total of 20,700 service stations. On its environmental record, BP has been named amongst the 10 worst corporations by 2001 and 2005 by Multinational Monitor (Uhlmann 2010). Its track for human rights and environmental has continued to lag behind. This accounts for actions like hazardous substance dumping, violations of safety and health, air pollutions, farmland damages claims, and water-oil spillage. BP has the worst safety records among other major oil companies when it comes to industrial accidents.
Most of its actions, 97% are termed as willful violations and this totaled to 760 between 2007 and 2010 in USA operations as identified by OSHA. The company has repeatedly disregarded environmental and safety rules which have risked serious accidents. This is demonstrated by its tendency to ignore the safety policies in its operations. To mention just but a few incidents that confirm it’ s unresponsive to safety and environmental regulations, BP has had a refinery explosion in Texas in 2005.
This resulted in 15 deaths, injures 180 employees, and caused massive displacement of the residents who lived near it (Uhlmann 2010). The cause was identified as ultimate resistant of management and executive to maintain safety measure which failed to address engineering problems. BP has the highest fine record in the history of OSHA at $87 million in regard to failure that resulted in that explosion (Lyall 2010).
There are various violations still in a discussion involving BP. between 20006 and 2010 it has recorded multiple refinery fatalities, leaks, and safety violations. This has included employee deaths in 2006 and 2008, through accidents, electrocuted and pipe stack due to mechanical failures. Malfunctioning equipment has also release chemical s in the air to surrounding operational areas. There have been leaks of benzene, nitrogen oxides, and carbon monoxide. Residents have joined actions to oppose the release of emissions and suit BP for its harms.
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