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Social Responsibility Of British Petroleum

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Introduction

According to Blowfield and Murray (2008) 81% of executives of small businesses and global multinational companies argued, in a 2005 poll, that corporate social responsibility is very important for their companies. They suppose that business should make a positive and beneficial contribution to society. Nowadays more and more companies publish their social and environmental performances. There is no one specified definition of corporate social responsibility because it embodies a wide range of activities and different companies practise different responsibility actions. Corporate social responsibility covers a large number of issues, the most protuberant are: business …show more content…

All oil companies should be responsible for this problem because oil reserves are limited.

Research setting Current research will be undertaken within an oil company – British Petroleum. According to market capitalisation, British Petroleum is one of the largest oil companies in the world. It was founded in 1909 in London. The core activity of the company is prospect, extraction, refining and oil production. Other important businesses are distribution and transportation of oil. Oil giant also manufactures petrochemical products. (BP, 2010) BP as a global multination company has a great power and influence and that is why the company should also take care about society, environment and etc.

According to Dai Jones ( BP, 2004) the company consider itself to be one of the most innovative and progressive in the industry, that it is not just an oil company it is sustainable energy company. The members of the company strongly believe that success of the long-term company depends on its world-class environmental and social performance. The company strives to maintain the best results in all kind of operations. From providing convenient and safe work environment to its employees ending with taking care about the local communities. (Sustainability review, …show more content…

There are a lot of different approaches for identifying Corporate Social Responsibility. CSR includes a large number of different activities which company practise and behaviour paradigms of the company. The main idea of CSR is to show relation between company and society. In order to learn the difference between “actual” company behaviour and “stated” policy it is important to find out about all aspects of company’s CSR. There are three different studies about CSR. Klonoski (1991) differentiated CSR in three different ways. Firstly, it is “ fundamentalism”. It means that just social responsibility influence on profit maximization. The second group includes the theories which advocate moral individuality of organizations. Finally, the third group is made up of the theories which have profound political and ethical issues. Windsor in 2006 divided the theories also into three main parts, namely, ethical, economical responsibility theories and corporate

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