Running head: CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility in Oil and Gas Industry in Norway Name of the Student Name of the University Author Note
1CORPORATE SOCIAL RESPONSIBILITY Abstract The primary aim of this research paper was to understand the concept of Corporate Social Responsibility in the oil and gas company present in Norway. It has been seen that CSR has been gaining importance in the daily activities of business by spreading awareness among the local communities.Thecompaniesarebecomingactiveinthesocietyandaretakingup responsibilities to maintain sustainable practices within their business sector. The empirical and the theoretical aspects have been discussed in the paper where CSR has been explained in an extensive manner. The literature review provides an overview of the concept along with the benefits and challenges that are present in accepting CSR by the companies. It will also explain to the readers the importance of this topic in the modern world and the role it plays in safeguarding the position of the company in the competitive markets. Stat-Oil Oil Corporation is one of the major oil and gas companies in Norway and it is important for the company in accepting the CSR activities so that the business can be sustainable in nature. The analysis presented in the research has been done based on the responses that were collected from the employees of the company and their insights regarding the various activities that are carried out within the organization. The thesis ends with a conclusion where the objectives taken up in the research has been analyzed with the help of the literature review and the data analysis that was conducted on the responses that were collected.
2CORPORATE SOCIAL RESPONSIBILITY Acknowledgement I would also like to take this opportunity to thank my professor without whose, constant support and guidance, the research would not have been possible. Firstly, I would like to thank God the Almighty in giving me the strength and courage without which I could not have completed the entire study. Secondly, I would like to thank my family and relatives who gave me constant support mentally and physically so that I can complete the study on time. Lastly, I would like to give thanks to my peers and the friends who have helped me in providing the appropriate information throughout the project and helped me in doing the in-depth analysis of the research. Without their proper guidance, it is impossible for me to complete the project. Thanks and Regards, Yours Sincerely,
3CORPORATE SOCIAL RESPONSIBILITY Table of Contents Chapter 1: Introduction....................................................................................................................7 1.1: Background of the Study......................................................................................................7 1.2: Background of the company.................................................................................................8 1.3: Aim and Objectives..............................................................................................................9 1.4: Research Question..............................................................................................................10 1.5: Research Hypothesis...........................................................................................................10 1.6: Contribution to literature....................................................................................................10 1.7: Structure of Dissertation.....................................................................................................11 Chapter 2: Literature Review.........................................................................................................12 2.1: Overview of CSR................................................................................................................12 2.2: CSR pyramid......................................................................................................................12 2.2.1: Economic responsibility..............................................................................................13 2.2.2: Legal responsibility.....................................................................................................13 2.2.3: Ethical responsibility...................................................................................................13 2.2.4: Philanthropic responsibility.........................................................................................14 2.3: Triple bottom line...............................................................................................................14 2.3.1: Economic sustainability...............................................................................................14 2.3.2: Social sustainability.....................................................................................................15 2.3.3: Environmental sustainability.......................................................................................16
4CORPORATE SOCIAL RESPONSIBILITY 2.4: Stakeholder theory..............................................................................................................16 2.5: Benefits of CSR..................................................................................................................18 2.6: Challenges of CSR..............................................................................................................19 2.7: Transparency and sustainability reporting..........................................................................20 2.8: Importance of Boards.........................................................................................................21 2.9: Effectiveness of Boards......................................................................................................22 2.10: Renewed interest in Boards..............................................................................................23 2.11: Models of Boards of Directors.........................................................................................23 2.11.1: Anglo-US Model...........................................................................................................23 2.11.2: Continental European Model.........................................................................................25 2.11.3: Japanese Model..............................................................................................................25 2.12 The effect of policies from a boardroom perspective........................................................26 Chapter 3: Research Methodology................................................................................................27 3.0: Introduction........................................................................................................................27 3.1: Research Philosophy...........................................................................................................28 3.1.1: Justification for the research philosophy.....................................................................29 3.2: Research approach..............................................................................................................29 3.2.1: Justification for research approach..............................................................................29 3.3: Research purpose................................................................................................................30 3.3.1: Justification of the research purpose...........................................................................30
5CORPORATE SOCIAL RESPONSIBILITY 3.4: Research strategy................................................................................................................31 3.4.1: Justification of research strategy.................................................................................31 3.5: Data collection....................................................................................................................31 3.6: Sample selection.................................................................................................................31 3.7: Data analysis.......................................................................................................................32 3.8: Ethical consideration..........................................................................................................32 Chapter 4: Analysis and Findings..................................................................................................33 Chapter 5: Conclusion and Reflection...........................................................................................58 5.1: Conclusion..........................................................................................................................58 5.2: Linking with the objectives................................................................................................58 5.3: Reflection statement...........................................................................................................59 Reference List................................................................................................................................61 Appendices....................................................................................................................................71 Appendix 1: Survey of employees.............................................................................................71
6CORPORATE SOCIAL RESPONSIBILITY List of figures Fig 1: CSR Pyramid.......................................................................................................................13 Fig. 2: Stakeholders of Oil Corporation........................................................................................17 Fig 3: Time Board of Directors spend on each topic during meetings..........................................22 Fig 4: Anglo-US model.................................................................................................................24 Fig 5: Research Onion...................................................................................................................28
7CORPORATE SOCIAL RESPONSIBILITY Chapter 1: Introduction According to Alazzani and Wan-Hussin (2013), in the recent times, most of the demand for global energy is being met by using up the fossil fuel and it has been estimated that by the end of 2030 almost 50 percent of the companies will be relying on the consumption of fossil fuels as well. This means that the access to the non-renewable energy will also be declining to a great extent. Corporate Social Responsibility (CSR) plays an integral role in the international companies for most of the industries. Most of the European businesses have been increasing its activities with respect to CSR and it is being incorporated within the strategies of their businesses as well. 1.1: Background of the Study The Corporate Social Responsibility helps the organization in taking better decisions so that energy can be saved by managing the work in a better manner. It will help in increasing the improvements at a lower cost, which will directly result in saving of energy. The use of better strategies has helped the organizations in increasing its level of efficiency within the work place so that higher rate of production can be maintained with the help of the production line that is already present within the organization (Rauffet, Cruz and Bres 2014). However, there are many challenges that may result in decreasing the energy saving capacity for the companies. Most of the companies do not aim to invest more in the systems that will help in minimizing the use of the energies due to the economic and organizational barriers. The literature regarding the CSR activities has not influenced the organizations in improving their strategies regarding the use of CSR within their organizations. This process of research will help in analyzing the stakeholder
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