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Identify why the Managing ethics and social responsibility issue is relevant to the BP(British petroleum) and Critically evaluate how the organisation is dealing with the issue - Essay Example

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Identify why the Managing ethics and social responsibility issue is relevant to the BP(British petroleum) and Critically evaluate how the organisation is dealing with the issue

According to Beer (2010) the decisions of organizations operating in the context of the international market are likely to oppose, more or less, to ethics. Current paper reviews the performance of a well-known multinational corporation, British Petroleum (BP), in regard to ethics. According to the company’s reports, as presented below, the firm highly emphasizes on social responsibility and ethics in regard to all its activities. However, in practice the above argument is not verified. In fact, it is proved that the organization has repeatedly failed in responding to its social responsibilities, causing severe damages on its employees and people living in the areas surrounding its sites; besides, the environmental effects of the firm’s activities cannot be ignored. It is clear that the firm needs to update its operations globally promoting ethics and social responsibility.
BP is a major competitor in the oil and gas industry worldwide (BP, key facts and figures 2012). In 2011, the firm’s profits were estimated to $375,517 million (BP, key facts and figures 2012). The company operates in about 30 countries internationally, with about 16 refineries (BP, key facts and figures, 2012). The last five years the firm’s performance has been significantly increased, as revealed through the figures in Figure 1, Appendix.
The level at which BP has been able to align its practices with ethics and social responsibility, can be identified by referring to the firm’s existing policies for promoting social responsibility and ethics. At the next level, events proving the violation by the company of ethics will be presented and evaluated using appropriate literature.
BP operates in an industry the effects of which on the environment can be significant. For this reason, and under the influence of the accident in Mexico in 2010, the firm has tried to introduce a series of initiatives for improving its ...Show more

Summary

The development of commercial activities in the global market is based on specific rules so that fairness and justice in global commercial transactions are not threatened. Ethics are used for setting the limits in regard to the operations of MNCs in countries worldwide. In its…
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