BRITISH PETROLEUM

British Petroleum Social Responsibility and Ethics

British Petroleum Social Responsibility and Ethics

Identify why social responsibility and ethics is significant to BP and critically evaluate how the organization is dealing with the issues (2-3ethical issues should be discussed)

Currently, the requirements of corporate social responsibility (CSR) have a significant impact on business in developing countries and countries with economies in transition, both in the direct relationship between supply chain partners, as international buyers require compliance with CSR, and also in the process of developing legislation and application of international standards and norms. In particular, small and medium-sized enterprises (SMEs) in countries with economies in transition, trying to show customers and potential customers in the EU and elsewhere, that in their performance, they adhere to the principles of social responsibility. The issue of social responsibility and ethics becomes even more important for BP, as it is an oil manufacturing company, and the slightest of negligence can cause big harm to the people of the society (Tharoor, Ishaan, 2010, p. 33). Following are the ways in which BP can deal with these issues:

Social evolution

The trend today is to align and integrate social initiatives of business, precisely because social responsibility promotes the strengthening of business and consumer loyalty to a particular brand. The social consciousness of the leader and his desire to make a contribution to society, have changed the business environment over the last decade. This pressure and the discovery that the investments in the social field are profitable, led to a new stage, in which the social and economically integrated in the pursuit of sustainability" (Tharoor, Ishaan, 2010, p. 33).

Business profit

Social initiatives are not isolated actions, must go hand in hand with the mission, vision, values ??and strategy of the company. Indeed there is that business success is in knowing how to keep a balance and consistency across all these tasks. When employers align your business with social activities, improved company image in a way is unimaginable. We used to relate the concept of "corporate social responsibility" with donations and charitable activities. Companies bet more and were concentrated in those consumers with high income levels. However, this view has changed. Employers are getting closer to those low-income sectors, and these in turn are going to be beneficiaries to potential customers, suppliers and even partners. Employers now see them as economic actors, promoting benefits not only for this sector, but also for the company (Tharoor, Ishaan, 2010, p. 33).

How to achieve social transformation?

Companies must take and then develop a new business strategy, which is present the inclusion of this sector in a fair and transparent. The challenge is to break gaps, changing the organizational culture and including new players in the global economy. Many entrepreneurs do not know the low income population; the idea is to establish partnerships with the community and incorporate it into the workforce and to design new methods of market research. It is also necessary to strengthen the business by incorporating social entrepreneurs and community ...