TRAINING AND DEVELOPMENT IN THE MEDIUM BUSINESS

Training and Development in the Medium Business



Abstract

Firms in all industries must respond both to the changing dynamics of markets and to the expectations of stakeholders within those markets. Within the last two decades, nongovernmental organizations and other parts of the public have been increasingly active in shaping public expectations for firms to conduct their activities in ways that minimize undesired social and environmental impacts. These expectations for firms to balance their short terms goals of profitability with the long-term needs of the society and environment can be broadly referred to as corporate "Sustainable Development." The current day debate surrounding SD as applied to global corporations is complicated for many reasons, as this document explains. Large global oil and gas firms that are in the business of exploiting non-renewable yet strategic natural resources are by no means immune to these changing stakeholder expectations. These companies deal with the commodities that fuel both development and pollution. As a result, the debate surrounding SD affects their corporate strategy. Increasing global connectivity via the Internet has provided concerned citizens with the ability to apply pressure in a collective and immediate way. In the last decade, negative media has highlighted the impact these public pressures have had on oil and gas firms' image. It has also highlighted the potential scale to which these pressures can impact a company's future as a, profitable firm. We studied two oil and gas firms, Shell and BP. Both have re-positioned and re-branded themselves by taking proactive measures to meet and even exceed the expectations of their various stakeholders. By entering into dialogue with their constituencies, they have increased innovation toward sustainable practices, and in so doing, have boosted public trust. By analyzing live cases, we reveal their approaches in bringing the ambitious ideals of sustainable development into practice. Each case was successful due to its project-specific approach which catered to local needs. Additionally, each firm's history, organization and culture dictates its SD strategy - i.e, there is no universal approach. However, regardless of individual styles, "transparency" and "engagement with stakeholders" are vital ingredients to success in SD. But these must be learned through practice.

Table of Contents

Chapter I6

Introduction6

Statement of Problem9

Purpose of the Study10

Research Objectives & Research Questions11

Study Design11

Training Evaluation12

Expected Conclusion13

Chapter II14

Literature Review14

Thesis statement14

SD - A review of the issue15

What is SD and why is it important?20

The role for corporations21

The evolution of SD23

Societal activism and mobilization25

Regulatory drivers and governance issues27

Precedent and perceived company benefits28

Corporate reputation and brand image29

Human and intellectual capital29

Operational efficiencies30

Reducing- risk31

Inspiring- innovation31

Product differentiation32

Auditing SD performance33

Considerations ofSD in company valuation33

Must weave into business strategy34

Chapter II35

Mental models35

Systems thinking35

Top-Level commitment / raising awareness35

Start with low-hanging fruit36

Share experience36

Assessing SD in decision-making36

Proxy measures37

Screen your business partners37

Concluding considerations38

Chapter S: The Oil and Gas Industry38

Energy at the heart of development39

Hydrocarbons take the cake39

Both oil and gas are non-renewable40

Made to trade40

The Natural Gas Industry42

Geological risk43

Project risk43

Social and environmental risks44

Political or nation related risk44

Evolution of firm strategies in the age of black gold44

In the age of information - bytes bite47

Chapter IV50

Case ...