Ethics of Oil Companies



Contents

Introduction1

Problem and Opportunity1

Purpose1

Background1

Sources of Information2

The Business Case2

Impact of Acting Ethically4

Improving One's Images4

Preventing the Creation of Laws5

Avoidance of Costs Arising from Accidents and Mishaps5

Ethics and Employees6

The Benefits to Business7

Staff7

Risk Management8

Brand of Product Differentiation8

License for Legality8

Measures to show Concern of Environmental Management and Sustainability Issues9

The Normative Approach9

The Economically Motivated Approach9

Recommendations10

Future Development and Opportunity of Alternative Energy11

Conclusion11

References13Business Ethics of Oil Companies

Introduction

Problem and Opportunity

The problem that the report will discuss is the ethical and environmental concerns that arise because of the functioning of the oil and petroleum companies.

Purpose

The purpose is to provide such opportunities to the petroleum companies that provide them many opportunities to stick to the ethics and follow them to serve their environment and the community.

Background

It is important that all the companies follow ethics; however, it is very important for the petroleum and oil companies to follow these ethics because of the fact that such companies pose a serious threat to the environment and the society. The report aims at looking into the ethics that the petroleum companies need to follow so that they may be able to contribute well to the society and the community. Business ethics is based on the normative ethics, standards that ethics are upheld and applied specific to distinguish what is right or wrong, that is to say what should be done or should not be done. However, with few exceptions, business ethicists are usually less interested in foundations of ethics (meta-ethics) or the justification of fundamentals ethical principles: they show more concern with practical matters, and any obligation specific can be applied specifically to the activity and the economical relationship.

This is why business ethics is generally regarded as one of the forms of applied ethics in a specific field that examines:

Rules and principles of ethics in the context of business economic and business;

Various issues moral or ethical that appear in the context of the activity economic of men;

Any duty or obligation for a person engaged in trade and commerce activities.

The field of business ethics has an overlap with the philosophy of business, one of whose goals is to identify the purpose of a core business. If the primary purpose of a business is to maximize the performance of its shareholders, then we could consider in this context it is contrary to the ethics for the company to take into account the interests and rights of any other stakeholder.

Sources of Information

The resources that have been used in the report are online resources that include books and journal articles.

The Business Case

The term ethics describes the voluntary contribution of the economy to a sustainable development that go beyond the legal requirements. Ethics stands for responsible business conduct in the actual business (market), over ecologically relevant aspects (environment) in relations with employees (workplace) and the exchange with the relevant stakeholder and interest groups (stakeholders). Stated more clearly and simply, it is the business contribution to sustainable development issues. Implementation of ethics results from requests from civil society (associations, environmental and humanitarian) to take into ...