Corporate Social Responsibility - A code of ethics Essay

Corporate Social Responsibility - A code of ethics - Essay Example Over the past 3 years Bibbyoffshore have seen a exponential growth in their business, the company now operates 2 dive support vessels (DSV's) with a third due to come online in late 2007. The company is now of such a size that it is able to compete with the larger existing oil and gas service companies who have dominated the market over the past 15 years. As Bibbyoffshore desire to attract more complex, higher value contracts, certain client expectations, such as the way in which Bibbyoffshore view their responsibility to the environment and society, need to be met. This is reinforced by Bibbyline' own mission to maintain growth whilst operating within their core values of: This management report aims to investigate the relevance of a Corporate Social Responsibility (CSR) Ethics strategy for Bibbyoffshore. Initially the development of CSR and Ethics within the Oil and Gas industry will be discussed followed by a short business case for a CSR strategy. A three year implementation strategy will be suggested along with a code of ethics and finally some concluding remarks. Corporate Social Responsibility (CSR) is the contribution of the business to the sustainable development goals of the Government. It is about how the business takes account of its economic, social and environmental impacts in the way it operates-maximizing the benefits and minimising the downsides. CSR is a voluntary actions that business can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and the interests of wider society. (csr.gov.uk). Working within developing countries the oil and gas industry has the opportunity to be to be a positive force in generating the hard currency revenue that governments need to help reach national development goals. While a company is working in a country they invest and develop infrastructure, such as roads, that serve the community. This helps develop the economy of the country as supporting services such as material supply for roads is purchased within the country pouring funds into the economy. The oil and gas industry plays a key role in technology cooperation and capacity building. It means helping the host country to meet the basic needs such as infrastructure, health, education, training, job creation, and water supply. In order to