Ethics and Corporate Social Responsibility in Driving Organizational Success for Multinational Companies in Oil/Mining Industry

4566 words 19 pages
ROYAL MELBOURNE INSTITUTE OF TECHNOLOGY GRADUATE SCHOOL OF BUSINESS AND LAW

ETHICS AND CORPORATE SOCIAL RESPONSIBILITY IN DRIVING ORGANIZATIONAL SUCCESS FOR MULTINATIONAL COMPANIES IN OIL/MINING INDUSTRY

Submitted in partial fulfillment of the degrees Masters in Business Administration Lecturer: Eileen O'Leary 2010 By: Albertus Rendy Buntaran (S3264165)

Executive Summary This paper provides a broad definition of ethical behavior and Corporate Social Responsibility (CSR) in the competitive world of oil and mining industries of today. It is also acknowledged that factors behind both ethics and CSR are evolving and therefore, the factors for both ethics and CSR are defined for three different periods. The first period will focus on
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Corporate Social Responsibility (CSR) has been going around the business communities for a long time. The concept, strategies, implementation and output have been discussed in the past few years. Oil and mining multinational corporations have been pressured to take into account the effect of their operations to the society surrounding. In present situation, corporations are now challenged on how to combine society issues into their system while at the same time also needs to keep their conducts ethical in everyone perspectives. The factor behind both ethics and CSR are also varying as time moves on. In the past, ethics has been discovered as a commitment, where nowadays it is assumed that most corporations are involved putting their commitment into reality. The future factor will concentrate over the concept of sustainable development which surfaced in 1980s (Mitchell, 2009). To further understand the dimensions of sustainable development concepts, Dr. Walter Wehrmeyer (2000) developed what is called as “Sustainability Triangle” which clearly provides bird's eye view on how the concept correlates with other environments.

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Figure 1.0 Sustainability Triangle Source : Corporate Social Responsibility in 2000 by Dr. Walter Wehrmeyer In the globalization era, oil and mining corporations are arguably if not the most profitable sectors in the worldwide market nowadays. Big corporations such as Enron, Exxon, BP and BHP Billiton are all

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