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Community and society are a couple of stakes in the above array of stakeholders that a business is obligated towards directly. Charity schools and hospitals would be a part of direct responsibility to these two stakes but only partly and not completely. Exxon has failed to realize its obligations to the society in which it exists and so issues became so intense that Exxon Mobil had to suspend its activities. Corporate responsibility does not only lie with the protection of business interests and expatriate employees. It also involves going further ahead and taking care of employees. Any actions that affect the community in which the operations are established could reflect poorly on part of organization with regard to corporate responsibility.
The case of Exxon Mobil reminds us of the significance of business ethics. Ethical and human rights lapses can seriously effect corporate operations and reputations...
Exxon chose to conduct business in the risky and unstable parts of the world. Its dealings with questionable regimes has caused enormous damage to its reputation. Instead of becoming socially responsible ExxonMobil ended up becoming a state within a state. Instead of amalgamating itself with the surroundings its facilities were fenced off from surrounding communities. The tricky situation in the aceh left the company open to charges of collusion. In the event of such drastic conditions management has to adhere to stringent corporate policies & practices that are ethicaly sound and should steer away from any sort of affiliations with government. Government protection can not succeed the businesses only. It is the support of the community memebers that can make a business success. If the company involves the community and workers then the situation can be redressed.
Additionally the company is increasingly concerned with meeting the energy needs of people and organizations throughout the world ("Company Profile"). To this end Exxon Mobil is committed to "exploration and production of crude oil and natural gas; the manufacture of petroleum products; and the transportation and sale of crude oil, natural gas, and petroleum products ("Company Profile")." In addition Exxon Mobile is a primary producer and marketer of both commodity
Exxon Mobile and Game Theory Analysis ExxonMobil is the world's largest publicly traded international oil and gas company that operates in an industry that is dominated by several large firms (Exxonmobil, N.d.). On the international level, there are barriers to entry that make it difficult for new entrants to emerge, the product is considered a commodity, and as a result many have argued that this industry most likely follows the oligopoly
A large body of literature has treated many different aspects of these influences on Asia, Europe and the United States (Busser & Sadoi, 2003). The importance of the study relates to the current trends taking place in Libya where aggressive steps have been taken in recent years to normalize relations with the international community. For example, Libya opened up its programs to develop weapons of mass destruction to international
While Cadbury was initially vulnerable resulting in this take over, Kraft had to borrow heavily to afford the final price of 850p per share. In the coming months and years, Kraft will have to balance against recovering the money put into this acquisition (Wiggins, 2010). A risk, many British politicians and citizens alike fear will mean the end of their signature chocolate in an effort by Kraft to increase
ExxonMobil Chemical: Analyzing Three Spheres / Political, Economic and Civil Spheres in ExxonMobil Chemical Economic Sphere Political Sphere Civil Sphere What company says about itself Personal Take What Stakeholders said ExxonMobil Chemical, XOM, leads the world in the petrochemical sector, applying cutting-edge, patented technology for developing products that enrich the lives of people across the globe (ExxonMobil, 2015). Economic Sphere The company concentrates on developing its supplier capabilities and human resource, alongside their strategic local community investments. Emphasis is
Environmental Hazards as a Consequence of Crude Oil/Natural Gas Exploration, Transportation, Refining and Storage Ever since crude oil was first successfully drilled in the U.S. In Titusville, Pennsylvania, in 1859, the demand for oil has only been increasing over the years in countries all over the world. (Camden, 1883) Crude oil, from which various petroleum products are obtained, is a naturally occurring hydrocarbon component found trapped in rocks below the