Corporate Social Responsibility and Environmental Management

RUNNING HEAD: CORPORATE SOCIAL RESPONSIBILITY
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Corporate Social Responsibility

Corporate Social Responsibility
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Executive Summary
The report aims to understand the concepts and theories related to CSR. For that an
organization is chosen that is ExxonMobil that operates in the gas and oil industry. The report
highlights CSR practices and strategies of ExxonMobil. Further, the CSR concepts and
theories are related to the practices and strategies of the company in order to identify whether
the company is CSR friendly or not or can sustain in the market for long run and to identify
that different frameworks and models of CSR are explained that are six core characteristics of
CSR, three-domain model, Carroll’s pyramid and stakeholder theory. At last, few
recommendations are by analyzing all the CSR strategies and practices followed by
ExxonMobil that the company should focus on building a strong board committee that
focuses on building new technology and products that can contribute more to the society. On
the other side, the company should consider an additional domain that is ecological
responsibilities; it is recommended that the company should advance research for protecting
the environment so that both present and future requirements of the society can be met.

Corporate Social Responsibility
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Table of Contents
Introduction................................................................................................................................2
Theories and Framework............................................................................................................2
CSR strategies............................................................................................................................6
Recommendations......................................................................................................................8
Conclusion..................................................................................................................................8
References..................................................................................................................................9

Corporate Social Responsibility
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Introduction
Exxon Mobil Corporation is an American company that operates in the oil and gas industry
and headquartered in Texas. It was formed in 1999 by the merger of Exxon and Mobil. At
present, the company operates the following brands that are Exxon, Esso, Mobil, and
ExxonMobil Chemical. ExxonMobil considered one of the largest oil companies, as in 2007
the daily production of oil was 3.921 million BOE and reserves of the company in 2016 were
20 billion BOE. Further, the company is the largest refiner in the world with 37 oil refineries
in 21 countries. ExxonMobil focuses on producing chemical and energy products that are
significant in this modern era for the standard of living and economic development. The
company also focus to protect society, the environment and the wellbeing of communities
(ExxonMobil,2020).
ExxonMobil is a leading player at the global level and is able to achieve business goals along
with that the company is responsible to take care of the impact of their actions on society and
the community. In order to do so, the company adopted various sustainability principles and
integrate corporate social responsibilities with their business model. Corporate social
responsibility is considered a strategy that helps the companies to contribute to societal goals
and development of the society and community. Sustainability includes business activities
that are voluntary and demonstrates the inclusion of environmental and social concerns in the
operations of business and stakeholder interaction. Sustainability and corporate responsibility
are, therefore, a prominent feature of the business and society literature and also include
business ethics (Wang et.al,2018).
Theories and Framework
According to Maas and Boons (2017), Corporate social responsibility is a business model in
which the companies voluntarily decide to contribute to the betterment of society and
communities. Different authors have different views on the concept of CSR, due to that there
is no such universal definition has been established. CSR is considered a broad concept as it
can take various forms depending on the industry in which a company operates. With the help
of CSR activities and volunteer efforts, businesses and society both get benefits.