Miss Case
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In recent years, corporations have been getting involved in Corporate Social Responsibility (CSR) initiatives. These CSR efforts address a number of different social issues, and focus on issues of concern to a variety of stakeholder groups. The following assignment will take a closer look at the CSR efforts of British Petroleum by researching and examining their CSR activities. Firstly it will define Corporate Social Responsibility and then apply this to British Petroleum. The assignment will begin to unfold the true practices of this corporation, taking a closer look at the stakeholder groups that are affected by CSR and will continue to conclude on the results that are found, taking business ethics into account.
First and foremost, it is important to understand what is meant by the notion, Corporate Social Responsibility. Almost everybody has heard of this concept but what one quickly appreciates is that a mass of diverse definitions exist for CSR, in addition to, an assortment of views on the appropriate range and features of a corporations responsibilities. However, by and large CSR refers to obvious business practices that are founded on ethical values, conformity with legal requests, and reverence for people, communities, and the environment. Also, it can be said that CSR is the economic, legal, ethical, and philanthropic expectations placed on organizations by society at a given point in time. As stated, there are a variety of definitions for CSR but on the whole it involves ensuring the interests of the wider community are met through ethical practices of business, whilst maintaining shareholder interests. In addition to, positively ensuring public expectations and precedence are expanded.
The corporation at the centre of this assignment, as noted, is British Petroleum (BP). According to BPs website, it is one of the worlds leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. BP has created positive and momentous goals in connection with reducing its CO2 production and expansion of alternative sources of energy, for example, solar power. In spite of this, during recent years, the companys environmental image has been hit hard mainly due to the Deepwater Horizon explosion. Consequently, this caused the image of BPs brand name and corporate social responsibility to