Business and Social Responsibility

1153 Words5 Pages
When a business gets incorporated regardless of the business size and the nature of profession requires an adequate execution methods for being successful and to achieve its goals. Some of these goals can be short-term or long-term, depends on the nature of business. Likewise, these execution methodologies can be vary time to time as the corporate needs to satisfy different groups of people such as : top hierarchy stakeholders, staffs ,shareholders, and even non-related business groups such as environmentalists . In 21st century people having a better understanding of incorporated businesses in their societies. Having said that, most medium to large size corporations are active in international markets which brings them more challenges and if these challenges are not planned for going forward these corporations sooner or later will fall behind their competitors in business world .Therefore, it is necessary to focus on corporate strategies from the beginning and preplan the route to mediate the risks as much as possible. The social responsibility as a dynamic element of corporate strategy can make the corporate sustainable in its lifetime. In recent years we had couple of most challenging companies in their failure and success regarding social responsibility such as : BP, Northern Gateway and Bombardier . On one hand, BP has failed to satisfy the investor groups as part of its corporate social responsibility for what happened “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” (bp, 2014) . As a result, 11 people died and many injured, the fire burned for 36 hours before the rig sank, hydrocarbons le... ... middle of paper ... ...TINGS REALLY CAPTURE?. Academy Of Management Learning & Education, 12(3), 255-267. doi:10.5465/amp.2012.0123. Retrieved 03 02 2014 from http://web.a.ebscohost.com.libaccess.fdu.edu/ehost/pdfviewer/pdfviewer?sid=bfbf4946-0c25-49fd-a281-382ac99a712f%40sessionmgr4003&vid=2&hid=4206 Deepwater Horizon accident and response. (2014). Retrieved 03 02 2014, from bp: Deepwater Horizon accident and response . http://www.bp.com/en/global/corporate/gulf-of-mexico-restoration/deepwater-horizon-accident-and-response.html Sharma, S., & Mehta, S. (2012). Where Do We Go From Here? Viewing Corporate Social Responsibility through a Sustainability Lens. Journal Of Contemporary Management Research, 6(2), 69-76. Retrieved 03 02 2014 from http://web.a.ebscohost.com.libaccess.fdu.edu/ehost/pdfviewer/pdfviewer?vid=24&sid=cd8fd860-13dc-4257-829e-68982c9bb0ea%40sessionmgr4003&hid=4206
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