...Social Responsibility, Course 2016 FE1 EDHEC Nice Tutorial 3 BP, Deepwater and Sustainability Reporting The Deepwater Horizon oil rig fire and explosion on April 20, 2010, killed 11 men and caused one of the largest marine oil spills in history. The leak from the undersea well flowed for 87 days and polluted an estimated 68,000 square miles of the Gulf of Mexico waters and nearly 500 miles of coastline from Louisiana to Florida. At the moment of the accident BP was the leaseholder and operator of the Maconda well located off the coast of Louisiana. The company was ultimately responsible for conducting operations there safely and in respect of the environment. BP hired Transocean Ltd (the owner of the drilling rig Deepwater Horizon) to provide the vessel and drilling crew to implement BP’s operations of the Maconda well. 1 Investigations established that bad management on the Deepwater Horizon resulted in poor safety on the rig. The US chemical safety board concludes that a last-ditch safety device on the underwater well had multiple failures and wasn't tested properly. It found that the cause of the initial explosion involved multiple screw-ups with cement, drilling mud, fluid pressure, botched tests, management problems and poor decisions. The blowout preventer sealed the well temporarily, but then it failed and that caused the massive spill. 1 For a description of BP’s implication in the Deepwater Horizon accident you can also read Cherry and Sneirson ...
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...Introduction This main purpose of this review report is going to analyses the BP corporation by go through its sustainability 2010 annual report in order to use as references for future development. Sustainability disclosure is the process for publicly disclosing an organization’s economic, financial, environmental and social performance. Executive summary An organisation's stakeholders increasingly expect more than just financial and governance information. Stakeholders also require information about company economic, environmental and social performance. Information included in a sustainability report should meet the needs of those stakeholders who include customers, employees, communities, investors, governments and others. In this report we will use the system-oriented theory to show the link with the BP’s sustainability disclosure information which is made of three component theories: stakeholder theory, legitimacy theory, institutional theory. Main body During the past 2010 BP has made a claim that they are continuing make the positive change since the Mexico bay oil spill accident. BP wants to rebuild their reputation and re-earning the social trust and it is also the way that they can achieve the sustainability of the shareholder value. On the evening of 20 April 2010, a gas release and subsequent explosion occurred on the Deepwater Horizon oil rig working on the Macondo exploration well for BP in the Gulf of Mexico. After the initial explosions, the blowout...
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... : 100010779 Exploring Justice, Fairness and Organizational sustainability in the international environment: The case of 2010 Gulf of Mexico Exploring Justice, Fairness and Organizational sustainability in the international environment: The case of 2010 Gulf of Mexico Abstract This study leverages insights from the literature of organizational sustainability, stakeholder theory as well as the notion of organizational justice and fairness to help answer the question as to how companies should morally prioritize corporate social responsibility, corporate accountability and stakeholder claims. In this paper, I also utilized the concept of corporate social responsibility as well as the triple bottom line in order to form my own model of sustainability. This model is used to analyze the case of the 2010 Gulf of Mexico oil spills which was claimed as the responsibility of British Petroleum. I also addressed the strong relationship between organizational justice and organization sustainability with the conclusion that by enhancing organizational justice and fairness, organizations will be able to obtain its sustainable development in the long terms. Moreover, it is important to note that this article mostly focus on the sustainability regarding to three dimensions of economic, environmental and social, analyzing the real-world problems in order to emphasize the importance of philosophical roots of sustainability. Perhaps the result came out from this study will be seen as a...
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...International Paper: Combining Industry and Social Responsibility Marketing 406 Roosevelt University December 6, 2014 Natalie Mierzynska, Sujatha Lekshmivaragan, Dmitry Rozental, Ebuka Nkwonta Table of Contents Background 2 Objectives 4 Procedures 4 Summary of Findings 4 Detailed Findings 6 Defying Common Criticisms 6 Integrating Sustainability Principles 8 “Greening” and Beyond 11 Enlightened Marketing 14 Social Responsibility & Financial Success 15 Conclusion 16 Works Cited 18 Background International Paper (IP) is the global leader in the production and distribution of paper and packaging products (Internationalpaper.com). It was founded more than 110 years ago, and produces products that we use every day including various types of paper, consumer packaging, pulp, recycling, and industrial packaging. The company’s stock symbol is IP, and a share of IP stock currently sells at around $53/share. IP is currently headquartered in Memphis Tennessee, and employs over 62,000 people (Kotler & Armstrong, 607). Last year, the company sold over $26 billion worth of product, placing it 111th on the Fortune 500. From a consumer perspective, when a multi-billion dollar producer of paper and packaging products comes to mind, we automatically assume that the company produces a large amount of pollution and destroys forests all over the world. However, International Paper prides itself on being on top of Fortune Magazine’s “Most...
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...Executive summary This report seeks to define Environmental sustainability and examine its importance in the contemporary world of corporate dominance in the world arena. Business activities are regularly having an increasing contribution to environmental problems and threatening sustainability. Phenomena like climate change and extreme weather events have evidenced the effects of relentless use and overuse of natural resources. The need for environmental sustainability has become important now more than ever following the occurrence of repeated natural disasters and studies showing the ill effects on human health. It has been established that the misuse of natural resources can threaten the existence of future generations. The role of businesses, civil society and governments has been discussed in the context of environmental sustainability in this report with focus on climate change. The oil and gas sector is an important sector in terms of sustainability related to the environment. The sector has been scrutinized widely for occurrences like leakages and oil spills. The companies in this sector have a huge impact on the environment. The importance of oil companies in the path to sustainable development has been discussed. The multinational giants British Petroleum and ExxonMobil have been used as case studies to understand the kind of initiatives being taken in this sector for a sustainable environment. Lastly, the challenges related to the sector in implementing these initiatives...
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...Assessment 1 Develop workplace sustainability Questions What are the sustainability issues? Unsustainable activities have led to changes in our environment, or have been identified as having the potential to lead to future changes. The types of changes that are occurring or are predicted to occur form the key issues for sustainability. The following Table 1 provides a summary of the key issues. They are related to changes to the physical and cultural (being the way we live) environments, which in turn relate to the economic environment. What does sustainability mean? Every day we hear the term ‘sustainable’ or ‘sustainability’ being used to describe a large number of issues and news items. There is the ‘sustainable economy’, ‘sustainable agriculture’, ‘economically sustainable’, ‘the need to be sustainable’, ‘sustainable work practices’ and ‘sustainable water supply’ to name a few. The Brundtland Report, Our Common Future, is seen by many as one of the first global reports to address sustainable development. This report defined sustainable development as: “…development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Brundtland (1987) National strategy for ecologically sustainable development Sustainable Development is defined by the Australian Government’s National Strategy for Ecologically Sustainable Development as: “…using, conserving and enhancing the community’s resources...
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...To what extent can the business sector be encouraged to become more environmentally responsible to their customers and stakeholders? Jeremy Lamont Introduction The business sector is generally targeted on environmental responsibility. This article assesses if firms can be encouraged in taking on more responsibility to their customers and stakeholders by analysing current and possible methods. In economics the cost to the environment is categorized by social costs and externalities in the supply and demand model. The key of getting to the business sector is to not only take on more of the social costs away from consumers in the market but to also reduce them out of the market completely. The costs of economic activity have a negative externality or social cost and whilst much of it is currently borne by the environment and stakeholders, it could also be passed onto the business sector. A Stakeholder is “a person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies” (businessdictionary.com, 2012) which together with consumers are usually unfortunate in bearing the negative environmental effects from business activities. Supporters of environmentalism argue more can be done by firms to be more environmentally responsible. Climate change amongst a host of other environmental problems is largely blamed on the business sector. The article will critically...
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...“Critically analyse the performance of an organisation or campaign (non-profit or commercial) in relation to their promotion of sustainability/sustainable development. Assess its value and level of success in achieving meaningful change. The organisation or campaign can be local, national or global and may range in size from large to small (eg Greenpeace, The Body Shop, Travelsmart, Friends of Kings Park).” Introduction: Founded in 1992, Planet Ark has encouraged environment change and sustainability for over twenty years and is specially focused on the impact we have on our planet and the sustainable ways we can use to minimize this impact. Planet Ark aims to ‘protect and enhance the natural environment’ (Planet Ark, 2013) and get individuals and businesses involved together to protect the planet and work towards sustainability. Planet Ark undertakes a special annual activity, National Tree Day, planting tress to provide for a sustainable future, which begun in 1996 and continued each year with growing support. One of the main points of focus for National Tree Day is to educate on and plant native trees and plants, creating a sustainable future for the environment by supporting local bio-diversity, however the question remains is Planet Ark achieving this and National Tree Day actively educating and making for a sustainable future? Through the use of various articles, Planet Ark’s own findings and reports and other critical analysis’s we will explore and discover how...
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...The Walmart Journey: Walmart’s trucking Division Scale and Operation: Wal-Mart was founded on Sam Walton’s principle and ideals to bring products to the consumers in a way that mean they could offer their products to the consumers for cheaper than other retailers. This led to them creating a retail giant over the next forty years. In the early 1970’s Wal-Mart became the one of the first companies to use a centralized distribution center for their stores. When they started this practice they knew they would need a trucking fleet for years to come and made the decision to own their own private fleet. Along with great success comes turmoil and hard times. Wal-Mart’s came in the early 2000’s when there was a lot of public criticism about their business practices which included being sexist, strong-arming the little guys, and not having fair working conditions for their workers who were not allowed to join or create a union. There was also a growing movement within corporations around the world towards going green and having more sustainable business practices. On this note Lee Scott offered his famous speech in 2005 to the consumers, investors, and people around the world. His speech “21st Century Leadership” he laid out a three part plan for becoming a prominent player in sustainable business. These three parts included being supplied by 100% renewable energy, creating zero waste, and selling sustainable products in their stores. Currently, Wal-Mart owns a private trucking...
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...FROM “(R)EVOLUTION” TO SUSTAINABLE DEVELOPMENT: CURRENT FEATURES AND PERSPECTIVES ABSTRACT This article aims to address the issue of Sustainable Development (SD) in an evolutionary perspective within its multidisciplinary scope. The complexity of developments for sustainability has frequently proven difficult in its implementation, evaluation and effective communication.It was our intention to provide an outline of the diverse views on the subject, focusing on globalization as a change of attitude towards sustainability.It is a review of terminology associated with the SD and its multiple interpretations.It is referenced the apparent and irrelevant impact of initiatives to solve the economic, social and environmental problem. It emphasizes the influence and importance of strategies and the positioning of SMEs on the way to SD in the policy of act local think global. KEYWORDS Strategy Sustainable development Sustainability, SMEs JERÓNIMO, WINSTON CENSE, Center for Environmental and Sustainability Research, Departamento de Ciências e Engenharia do Ambiente, Faculdade de Ciências e Tecnologia, Universidade Nova de Lisboa, Portugal OLIVEIRA, NUNO GASPAR DE CIGEST, Assistente Instituto Superior de Gestão, Portugal 1. INTRODUCTION “(R)Evolution or Death”, adapted from the revolutionary slogan used and popularized by the Cuban regime, serves as motto for the urgent need to transform our production and consumption systems and our standing towards the environment around us....
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...Culture shapes the way we see the world. It therefore has the capacity to bring about the change of attitudes needed to ensure peace and sustainable development which, we know, form the only possible way forward for life on planet Earth. Today, that goal is still a long way off. A global crisis faces humanity at the dawn of the 21st century, marked by increasing poverty in our asymmetrical world, environmental degradation and short-sightedness in policy-making. Culture is a crucial key to solving this crisis. Source: Preface, World Culture Report, UNESCO Publishing, Paris, 1999. Our cultural values, which often include particular religious beliefs, shape our way of living and acting in the world. Module 11 on Indigenous Knowledge and Sustainability explores the importance of indigenous values and spirituality in providing guidance for sustainable living. Such principles and values encourage a spirit of harmony between people, their natural environments and their spiritual identities. The principles for living sustainably that flow from these and other cultural and religious beliefs vary between groups and countries. They have also changed over time as circumstances demand. Despite this diversity, many principles for living sustainably are shared, not only among indigenous peoples, but also between different religious traditions. This module explores the role of culture and religion in providing guidance on ways of living sustainably. It also provides activities which analyse...
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...Nike Inc. Strategic Analysis ----Eric Overview Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and selling of footwear, apparel, equipment, accessories and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area, and is one of only two Fortune 500 companies headquartered in Oregon. It is one of the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24.1 billion in its fiscal year 2012 (ending May 31, 2012). As of 2012, it employed more than 44,000 people worldwide. The brand alone is valued at $10.7 billion, making it the most valuable brand among sports businesses. The company was founded on January 25, 1964 as Blue Ribbon Sports by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike (Greek Νίκη), the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Skateboarding, and subsidiaries including Hurley International and Converse. Nike also owned Bauer Hockey (later renamed Nike Bauer) between 1995 and 2008, and previously owned Cole Haan and Umbro. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile...
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...Economic, Social, and Environmental Success— and How You Can Too I chose this book because the title drew my attention since the beginning. When I read the title I understood that in this book the Author’s were going to talk about how big corporations deal with sustainability. That for me was really important, as sustainability is such a hard concept to grasp. I believe that the best way to understand about sustainability is with examples and cases that happen in real life. On this book Andrew Savitz and Karl Weber, put all their vast experience and knowledge in sustainable practices and recollect big cases of the corporate world and study them. Some events are about mistakes the corporations did when they failed to understand the Triple bottom Line in their business decisions. Others are great examples of how companies found the “sustainability sweet spot” (a concept of them) and were able to achieve success not only economical, but also social and environmental. The purpose of the authors is to inform and educate the reader about how a company needs to balances social economical and environmental growth on todays world. The books starts with an important introduction, explaining what it is sustainability or at least they try as like I said before is such a hard concept to calculate. Where I believe they nail their explanation is when they start telling us what a sustainable company is and what are the benefits that a sustainable company has. “A sustainable corporation...
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...Introduction s environmental issues gain greater attention, pressure is being placed on all industries, including financial services to implement “green” initiatives. While green banking is not yet a key reason for most customers to select one financial institution over another, customer demands and greater environmental awareness are driving a number of financial institutions to go green. Environment is a key focus amongst ethical banks (in this field specially called sustainability or green banks) as well as amongst many conventional banks that wish to appear more ethically oriented or that see switching to more environmental practices to be to their advantage. In general bankers “consider themselves to be in a relatively environmentally friendly industry (in terms of emissions and pollution). However, given their potential exposure to risk, they have been surprisingly slow to examine the environmental performance of their clients. A stated reason for this is that such an examination would ‘require interference’ with a client’s activities. While the desire to not meddle in the business of the client is valid, one could also note that banks are required to interfere in the business of their clients regularly to ensure that the clients’ business plan is viable before issuing them a loan. The kind of analysis that all banks partake in is termed a single bottom line analysis (this analysis only considers financial performance). It is arguable whether or not performing a triple bottom...
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......................................................... iii-xi Executive Summary .................................................................................................................... xii Introduction .................................................................................................................... 1 Research Results .................................................................................................................... 2-3 Data Analysis .................................................................................................................... 4 Edification .................................................................................................................... 4 Sustainability .................................................................................................................... 4 Reasoning .................................................................................................................... 4-5 Conclusion & Recommendations ...................................................................................................... 5 Bibliography .................................................................................................................... 6 List of Illustrations Figure 1 1) Figure 2 Figure 3 dd sdf Figure 4 Figure 5 Figure 6 Figure 7 Figure 8 Figure 9 Executive Summary Generation Y (Millenials); the second largest...
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