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Business Ethics and Social Responsibility | Oil and Gas

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Added on  2019-11-20

Business Ethics and Social Responsibility | Oil and Gas

   Added on 2019-11-20

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Running head: COMPARATIVE BUISNESS ETHICS AND SOCIAL RESPONSIBILITYComparative Business Ethics and Social ResponsibilityName of the Student:Name of the University:Author note:
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1COMPARATIVE BUSINESS ETHICS AND SOCIAL RESPONSIBILITYExecutive SummaryIn this report the aim is to discuss the sustainability changes that is found in the gas and theoil industry along with its problems, risks and solutions that will be discussed which areeventually associated with this specific industry. The whole world until date is still dependenton the basic fossil fuels that are gas and oil. It is expected that the demand will eventually riseup to 4 trillion cubic meters by the end of 2017.
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2COMPARATIVE BUSINESS ETHICS AND SOCIAL RESPONSIBILITYTable of ContentsIntroduction................................................................................................................................3Managing ethical risks in the gas and the oil industry that will help to reduce accidents.........3Comparison of the risks of the industries...................................................................................4Effectiveness of ethical leadership in managing the risks in the oil and the gas industry.........4Conclusion..................................................................................................................................5Reference....................................................................................................................................6
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3COMPARATIVE BUSINESS ETHICS AND SOCIAL RESPONSIBILITYIntroductionThe oil and the gas industry are considered the one of the vital industry in theeconomy of the world. One of the greatest challenges of the sustainability reporting is themanagement and its measurement that are considered as its key indicators. Variouscompanies are found within the sector that has to navigate the risks on the global economybasis that has to invest on the new reserves and to make a continued operation of the largescale. In this report, the three questions will be addressed that is present at the end of the casestudy. The first question is managing the ethical risks that are found in the gas and the oilindustry that will in reducing the accidents. The second question that will be addressed is onthe risks that the Exxon and the BP industry will continue to face in the supply of the energy.Lastly, the ways by which the ethical leadership can help in the gas and the oil industry inmanaging the different risks will be discussed. Managing ethical risks in the gas and the oil industry that will help to reduce accidentsManagement of the ethical risk starts with that of the stakeholder’s of the company.The company has the sole responsibility to protect its stakeholders and it can only be possibleif they save it from the various accidents. Sometimes, it is seen that the activity is determinedto carry some high risks of damage or injury to the stakeholders. It is considered redesignedand the safeguards should be in place that will lower or might eliminate the risk ofidentification. Providing appropriate incentives to the various changes is for their safetyculture. Minimizing the risk of the stakeholders is ultimately to lower occurrences of theaccidents (Velásquezand Meunier 2017.). Managing the ethical issues related to the risks thatare found in the gas and the oil industry that are related to reducing accidents. Managing therisks related to the gas and the oil industry is to keep the environment and the public at a safeand a high level. There is a need to keep at a safe environment the reductions of the spills, oilleaks and the explosions. This will not only affect the public and the community but also thereputation of the stakeholder and the pressures of the public as well as their criticism thatneeds to be further dealt with. Certification and training is another major thing that needs tobe noted as well as the management for the change. In the oil and the gas industry, theaccidents are highly censured. The danger in the ecology is linked to the accidents of the gasand the oil industry that is one of the main risks. (Thach et al. 2017) The contamination in the
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