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Corporate Social Responsibility - Essay Example

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Corporate Social Responsibility Emirates National Oil Company: Corporate Social Responsibility Emirates National Oil Company (ENOC) is the Oil and Gas Company group owned by the Dubai Government and runs its operations in Dubai and the northern parts of UAE…
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Corporate Social Responsibility
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Download file to see previous pages The corporate social responsibility lies at the core of the oil and gas business of the group. Emirates National Oil Company is committed to excellence in the business of oil and gas and has issued guidelines in the form of handbooks to the employees and advising them to carry out business operation in compliance to the policies of the organization that also demands an ethical and responsible behaviour as a social citizen (ENOC Company, 2012). The ENOC Group has also been awarded with several prized for its commitment to work in the best interest of the society, to engage its people and inspire them to build a socially responsible network to protect the interest of the society. The ENOC Group has won the first prize in the Environmental Protection Category during the Dubai Award for Sustainable Transport. Pros of CSR in context to UAE The Corporate Social Responsibility Steering Committee of the ENOC Group has passed guidelines to be adhered by the employees of the company and the subsidiaries in the group in order to perform the activities during business functions which are in line with the values of the Corporate Social Responsibility that lie at the core of its business policies. ...
In order to maintain a sustainable business operation in the long run it is, therefore, essential for the business of ENOC to take active steps in protecting the interests of the society and work for their welfare. This would help Emirates National Oil Company to develop its goodwill in the market. Thus corporate social responsibilities performed by the company works to promote the brand equity of the group in UAE. A high value of brand equity built with the help of corporate social responsibility over the years would make the customers believe that the company is there to stay as a corporate citizen for a longer period of time. This would lead to wider acceptance of the oil and gas company among the customers who exist as members of the society. With the promotion of brand value, the brand loyalty would also increase as the customers would prefer using the oil and gas products of ENOC for usage as compared to the competitor products (Ronnegard, 2013). Therefore, in the long run, ENOC would be able to acquire an increasing market share and therefore, the revenue generation and profitability of the company would increase by leveraging on the activities of corporate social responsibility. The various practices performed by the Emirates National Oil Company are aimed to fulfil the corporate social responsibilities. This includes the ethical and honest practices that uphold the integrity of business functions. The continuous engagement with the various stakeholders of the society in UAE is maintained. The employees and the management do not engagement into discriminatory practices with any of the stakeholders in order to maintain a transparent corporate image. Among the latest CSR activities performed by the ...Download file to see next pagesRead More
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