Sustainable Management Features Essay Example | Topics and Well Written Essays - 3000 words

Sustainable Management Features - Essay Example This change is evident from the increased use of social reporting and adhering to corporate codes of conduct. Oil companies in the world have embraced international CSR initiatives. Companies such as the SHELL and BP have become major players in the renewable energy industry in order to combat the fact the oil companies are the ones who are mainly held responsible for global warming. In addition to this the oil companies of the world have also taken initiatives that are aimed towards the development of community. It was estimated that back in 2001 the oil companies in the world had contributed $500 million towards community development initiatives (Frynas, 2005). Total Oil Company was formed after the First World War when the French Prime Minister rejected the idea of forming a partnership with Shell in favor of creating an entirely French oil company. Now with revenues of â‚ ¬189.5 Billion it is the 5th largest international oil company of the world as per 31st December 2013. The company produces about 2,299 kilo barrels of oil equivalent per day and with a network of 15,551 service stations serves about 3 million customers worldwide per day. If one analyses the stakeholders who are associated with the company then Total acknowledges the fact that due to the reason that the company operates in more than 130 countries across the globe the company has to face and live up to different expectations of different groups of stakeholders who are associated with the company. The company states that there is number of stakeholders of the company depending on the location in which the company operates and their expectations from the company also differ depending on the location. The company states that the key to its long term integration will depend on how well it can identify and address the expectations of these diverse groups of stakeholders. The company has both upstream and downstream operations that range from exploration of oil to its fractional