Contenporary Management Issues1 Essay Example | Topics and Well Written Essays - 2500 words

Contenporary Management Issues1 - Essay Example ng effective steps in performing social activities to enhance their brand image and to conduct operations with better social initiatives for the development of a community as a whole (Hohnen & Potts, 2007). In the year 1996, Oman Oil Company (OOC) was established and it is owned by ‘Government of the Sultanate’. The company deals with petroleum products and natural gases. Contextually, OOC is regarded as the main base of the Omani economy. The company is also considered as an important source of Foreign Direct Investment (FDI), which is accountable for the development of the economy as a whole. In addition, the company has participated in CSR activities in national as well as international level. The company has adopted CSR policy as an integral part of business strategy with the aim of ascertaining that business operations are performed for the development of communities as a whole. Every year OOC contributes millions of funds for local community development. Moreover, it is worthy to state that OOC has achieved awards for its CSR activities in national levels. As a part of the CSR activity, OOC developed a partnership with â€Å"Oman Society for Petroleum Service (OPAL) † to provide technical and vocational training to local youths and its present employees (Oman Oil Company, 2012). In this regard, the objective of the essay is to highlight Four-Part of Model of Corporate Social Responsibility activity. The four-part model of CSR comprises economic, legal, ethical and philanthropic, which are described on the basis of CSR policies adopted by OOC. . Moreover, the essay describes the challenges faced by the company in the areas of business ethics and CSR activities. Globalization has transformed the picture of organisations. In modern scenario, organisations have used varied kind of activities to enhance their growth level. Notably, CSR is an activity, which makes a particular organisation different from others. Moreover, CSR is regarded as a new form of