Business Ethics and Social Responsibilities - British Petroleum

Added on -2020-02-05

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Business Ethics andSocial Responsibilities
TABLE OF CONTENTINTRODUCTION...........................................................................................................................1Business context..........................................................................................................................1Relate to existing CSR literature.................................................................................................4Critical evaluation of CSR activities implemented in BP...........................................................4Recommendation.........................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONFor sustainable development of the business an organization needs to focus on businessethics and corporate social responsibilities. Business ethics is concerned towards the moraljudgement about what is righty and wrong. Ethical behaviour and CSR policies can bringsufficient benefits to a company. Unethical behaviour and inappropriate CSR policies candamage the reputation and stakeholder’s relationship of the organization (Armstrong, Blouin,Jagolinzer and Larcker, 2011). The current research project is based on business ethics andcorporate social responsibilities. Regarding this, study has been chosen British Petroleum (BP)which is one of the leading organization of oil and gas industry of UK. For analysing businessethics and CSR policies of this organization research will conduct review of literature. It willcomprise that how well or badly is CSR implemented in BP. Along with this, recommendationsfor improving business ethics and CSR policies of the organization are also describing in thefollowing paragraphs of the report.Business contextBeing a responsible company and force for progress is the major aim of BritishPetroleum. Objective of this organization help world to meet the growing need of heat, light andmobility by offering secure, sustainable, reliable and diverse energy solutions. At present thisorganization has focused on number of code of conducts of business ethics and different socialresponsibilities of organization towards its stakeholders (Bredeson, 2011). But, on 10th April2010 BP oil spill or BP oil disaster was one of the major accident which have reflected thatBritish Petroleum did not focus on business ethics and CSR policies, because this disaster hasaffected the marine life of Gulf of Mexico in highly negative manner. Along with this, 11 peoplewas missing in this accident. It has huge negative impact on environment, health and safety ofindividuals and marine life and economy of nation, etc. Overall, it has reflected that BP was notfollowed the principles of sustainable development of the organization. This disaster has negative impact on corporate reputation of BP and affect the financialand non-financial performance of the organization (Leslie, 2013). Afterwards BP has focused onbusiness ethics and corporate social responsibilities. From last five years organization is trying tomaintain sustainable development of the organization in positive manner. Therefore, at presentcode of conducts and CSR policies contributes in social development. 1

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