The Legal, Ethical and Philanthropic Responsibility of Various Corporations - Free Essay Example

Sample details Pages: 10 Words: 3053 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? 5.2 Pakistan Petroleum Limited: PPL has sustained itself as gas exploration and leading oil, production company and it is running which major gas field in country for above all, the company in question hold credit not only for having laid the foundation stone of natural gas industry in Pakistan, but it is also giving a substantial and required energy base in its formative year, offering valuable assistance to the structure and advancement of national economy. Gas production by PPL has reached total gas production is 30% in the country. In order to keep pace with the urges and demands of socio-economic changes, PPL has invariably managed to enlarge, strengthen and improve its role as a well-disposed corporate citizen since its kicking off in 1950. Don’t waste time! Our writers will create an original "The Legal, Ethical and Philanthropic Responsibility of Various Corporations" essay for you Create order It has formed a PPL welfare trust which is committed to bringing forth its energy and resources to community development projects in particular place in which consultation to with all its stakeholders, local community is particularly. The uninterrupted and expanding community development activities are dedicated to the task of improving in quality of health and care services, providing education facilities as well as developing infrastructure to the benefit to people who are living sound area of companys operations .[1] 5.3 Shell Pakistan: There is hardly anyone who is not cognizant of Shell Pakistan. It is famous among the companies in the gas and oil sector of Pakistan. . Shell has a 100 year sound and successful track record in this particular area of the world. Although it has embarked upon a number of joint ventures and mergers from 1899 to 2007, Shell Pakistan is its final identity. Currently the Shell is focused on a mission of sustainable development and promises that f uture of it which linked to the future of Pakistan. . The company holds the stance that Pakistani people have tended to change the trajectory of their expectations from the big business firms and companies. These expectations comp[rise safe places to live and work, a conducive surrounding for education and health, Conservation to the bio diversity, clean air, environmental protection, clean water, reasonable of return on investment as well as providing job opportunities and so on. It is believe of Shell Pakistan that the way of manage to these challenges commitment through to the principles of sustainable development. Principle of these are included the robust profit to generation and giving value delivery to the customers, management of resources and environmental protection and providing benefits for the communities as well as management to resources, giving benefits to the communities, providing safety, respect to the people who are working with stakeholders, shell are being to a responsible corporate citizen, has always contributed for community by difference activities as well as shells bulk oil installation at Machike is not exception The shells policy on Shell in Society to a free eye testing and camping was arranged on 10th April 2012 at Machike with collaboration with Lyton Rehmatullah Benevolent Trust (LRBT). In its aim to get the sustainable development across, Shell Pakistan participates in a number of activities ranging from providing benefits to the individual to the welfare of society at large. The activities in question include for free eye camp and also in camps in the northern areas of Pakistan, Shell tamer programme and road safety program. Shell Pakistan has brought to the full commitment fore to the society benefits by its afore-mentioned activities.[2] Holding the status of a responsible corporate entity, Shell Pakistan invests in four social sectors: health, education, heritage and environment. Shell Pakistan giving funds into differe nt vocational institutes, educational and hospitals, rich heritage sites as well as other Social development programs which are notable to amongst which are Layton Rahmatullah Benevolent Trust (LRBT) Behbud Association, the Kidnety Centre, human rights education programme.[3] CSR index approach is taken by Shell Pakistan as building a soft social posture of the company. Some important indicators of CSR are looked over by the company.. 5.4 Barclays Bank Barclays Bank has started commercially in Pakistan in the year 2008 and initiated CSR Projects and made Partnership with UNICF for uplifting the life of poor standard in Pakistan. Barclay Bank adopted a comprehensive strategy sustainability in Pakistan As per Mohsin Nathani Managing Director and country head of Barclays Pakistan, à ¢Ã¢â€š ¬Ã…“Investing in the Community is an important part of Barclays sustainability strategy. We have our business will benefit from contributing to the development sustainability of the c ommunities we operate in (Internet 1, Barclays Pk, 2012 ) Legal Responsibility According to their website Barclays has demonstrated its legal responsibility by honestly following the rules and regulation which make them a global citizen. To become a good corporate citizen, The Barclay is not only behaving ethically but also trying to deal with different social issues by working collectively with a various NGO in Pakistan. Barclay started work with different NGO regarding promoting better education, good health and other human rights issues. To solve humanitarian issues and child labour issues. Barcaly is also working with UNICEF and HOPE in NGO for Child education and promoting health facilities. Barclays HOPE home Schools are proliferating in different parts of the country. These school not only imparting good education among children but also giving employment to various teachers in the school. Ethical Responsibility To behave ethically to their employees and stakeh olders, Barclay has started looking after local community programs in the global world where they are active to take care of local community. It is the best way probably to engage in the Local Community. The strategy to look after local community they have adopted which explained below :- Barclays Pakistan has an agreement with Sindh Institute of Urology and Transplantation (SIUT), by bearing complete monthly cost for one day dialysis of each month. This project was started from November 2008 to January 2010. In 2009 SIUT spent over PKR. 1.2 billion providing treatment to 650,000 patients around Pakistan. This is a great attempt by Barclays Pakistan for covering medical expense for the patient who is unable to bear dialysis cost. (Internet 3, barclays.pk, 2010) Philanthropic responsibility Charity Begins at work is Barclays program mission to encourage their employees to engage in supporting the causes and also persuading of their employees to actively participate volunteer ing work.. Charity begins at work is also an important component of the Barclays investment program. Barclays provide different charity supports such as Match fundraising in local area to help in sports and health activities, grants for volunteering, providing food in the days of Ramdan etc.. For the fund raising activity, Barclays team Operational Risk and Control Rigor (ORCR) organizes an event The Colours of Pakistan. The objective of this program was to enhance fund, these funds will get benefit deaf student at Family Education Foundation. Since the fund raising activity coincided with Pakistans Independence Day (14th August 1947) the event spontaneously became larger than life and all the more intriguing. In order to make it most of this, a painting competition was also held for Children of Barclays Collegues. The four best painting were featured on greeting cards which were then sold to friends, familes and customers across the country as activity for furnd raising. (Internet 4,m Barclays.pk 2010) 5.5 Pakistan State Oil (PSO): PSO has achieved a glorious success in the oil market as an unparalled leader in Pakistan which enjoying over 79% share of Black Oil market, 58% share to White oil market. It is well placed in its committed tasks in storage, import, marketing of various POL products and distribution including HSD, Mogas, Jel Fuel, Fuel Oil, Kerosene, CNG, LPG and petro chemicals. This blue chip is a company, the winner of Karachi Stock Exchange Top Companies Award and this is member of World Economic Forum, has been a famous and oft referred topic of case studies in Pakistan also abroad thanks to its radical corporate turnaround over to the last 5 years. One of the most successful being companies, PSO pays high and equal heed for looking of its stakeholder environment. The company has a vigorous conviction that its remarkable credibility is linked with the good and principle-oriented corporate behaviour. The company deems Corporate Social Res ponsibility as an important aspect of its day-to-day dealing with stakeholders. According to the viewpoint of CSR, the company has its well-established policies which include the efforts to bring about a palatable environment wherein every individual has an equal opportunity to achieving of business success. The aim of company to enhance the economic facet of Pakistan through creating of jobs, business engagement and philanthropy. Besides that, the company also includes the policies of preserving nature, availability of health care, nurturing the environment and providing education facilities to the community. The Corporate citizenship activities including the installation and improvement to the traffic signals into all the major towns and cities of the country. When it comes to the matter of giving equal education opportunities to the citizen, PSO is also providing scholarship to mertitours of business management and engineering students at prestigious university like as Institute of Business Administration Karachi, GIK institute of Engineering Science and Technology, Topi; The Quaid-e-Azam University Islamabad; The Punjab University Lahore and University of Engineering Technology Khuzdar. Pakistan State Oil has also a prominent track record in the financial as well as other assistance to genuine Charitable Project like as Family Education Services ,the Kidney Center, DarulK hushnud Center for Mentally Handicapped, Shaukat Khanam Memorial etc. In order to respect to Safety and Environment of employees, health, suppliers, customers, partners and community partners, the company fosters to sustainable utilize of natures resources with motto; Safety First and Integrity always.[4] 5.6 Pak-Arab Refinery Company Limited: (PARCO) PARCO embarked upon for its role as public Limited Company in 1974. This is a Joint Venture between Pakistan and Abu Dhabi. The company holding share 60% the portion of Pakistan Government and Abu Dhabi Petroleum Investment (ADPI) share is 40%. PARCO has successfully passed the span of more than 30 years ever since it came into existence. The voyage of Corporate through these years has been full of important victories. and milestones. In the span of past 17 years, PARCO has grown in size and it is heading towards a brighter future. In the vision statement regarding PARCO, this mention that company has biggest challenge only not to figure-out what right one will future, but is also choose a future that will give a definite advantage competitive to the Company for long term. It seen objectively that this very statement, the mission statement and the other information shown by the company, but do not portray the image of the Company as a social responsible entity. By taking into account the details of all information readable on the website of the company, it clear quietly that though it company is playing a good role to the economic development of the country by job creating through its different projects and it also satisfying their shareholders, the information fails to mention the measures taken by the company to betterment of the education, environment and health facilities provided to community. Consequently, it would be no exaggeration to say that if the company is really engaged in performing the above mentioned CSR activities, it should disclose properly the information; or if it is not performing like such activities then it should ensure that the measures connect to these activities are instantly taken into order for get the public confidence and long term success.[5] 5.7 Sui Southern Gas Company (SSGC): The Sui Southern Gas Company was founded on 30th March 1989 by following a series of mergers of 3 pioneering company namely Karachi Gas Company Limited, Sui Gas Transmission Company Limited and Indus Gas Transmission Company Limited, Karachi. SSGC is Pakistans largest integrated gas company. The Company is engaged in the transmission business and distribution of n atural gas in addition to the construction of high pressure transmission as well as low pressure distribution systems. Sui Southern Gas Company Limited transmission system to extend from Sui in Balochistan to Karachi consist of 3200 km of high pressure pipeline ranging from 12-24 in diameter. The activities distribution over 1200 towns in the Baluchistan and Sindh which organized through their regional offices. An average of about 357,129 million cubic feed (MMCFD) gas were sold in 2011-2012 to over 1.9 million industrial, commercial and domestic consumers in these region of through a network distribution of over 29832 km. The Company possess also operates of only gas meter manufacturing plant in the country, having an annual capacity production of over 550, 150 meters. The company has an authorized capital of Rs. 10 billion of which Rs. 6.7 billion is fully paid up and issued. The Government owns a majority of the shares, currently over 70%. SSGL is working with a mission to giving quality services to its customers by maintaining to high level of ethical and professional standards through optimum utilize of resources. SSGL is committed of the responsibility for the community, environment and stakeholders. In order to prove social responsible of the company, following step taken by the Company On November 30, 2006 SSGC established a Marie Adelaide Leprosy Centre (MALC) at MirpurKhas. SSGC also grant scholarships to the students at Lahore University Of Management Sciences. These scholarships are given to the students on merit bases.[6] It can thoroughly probe into above reality contribution in the CSR practicing, then it only comes up as a corporate philanthropy. However, the other 3 indicators of manage practices, environmental issued as well as corporate governance are not fully addressed by the given material on website. 5.8 KASB Securities: The KASB Group was established in 1958 by Khadim Ali shah Bukhari. This group has long-standing and far reaching tradition of competence as well as excellence in respect of Financial services in Pakistan. It is known primarily to investment banking, trading / research and asset management. In 1993, KASB became the local partner for the International investment banking firm, Merril Lynch, Recently, Merril lynch acquired to an equity stake in fund of KASB. KASB further holds the view that the way in which they interact with people has a positive impact on their business and reputation. Carrying out its role as a business firm, it strived always to give back to the s ociety by contributing their time as well as resources though for key initial which included the training of employees in order to make leaders in their fields, active sharing of view in shaping policies regarding country, showing commitment to the social projects and promoting development culture and sports. .[7] 5.9 ICI Pakistan Limited: ICI Pakistan Limited is a 75.81% owned subsidiary of ICI PLC UK. This public limited company established in Pakistan in 1952. It has tried always to develop such business portfolios in order to bring together of outstanding knowledge of customer needs with leading edge technology platforms to give high quality products to their customers. These traits show the Companys aim to create superior value of ICI shareholders and customers without it compromising on the commitment to health safety, environment and the communities in which it operates. ICI Pakistan Limited has made a commitment for the development of the Country and Community. As a responsible Corporate citizen, the company has a very distinct Policy regarding CSR in fulfilling their responsibilities to serve the community by its functions. The Company all along has encouraged social development initiatives and encouraged, which included improving enhancing infrastructure facilities in the Education sectors of the country and health care. The Company providing various institutes of excellence with financial support remarkable across the country. ICI Pakistans based on Corporate governance structure on the Companys Articles of Association, Regulatory, Statutory and other compliance requirement applicable to companies listed on the stock exchange, complemented by internal several procedures. These procedures include of a risk assessment control system and a system of assurances on compliance of applicable laws, companys code of conduct and regulations.[8] 6.10 Engro Chemical Pakistan Limited: Engro Corporation Ltd. has been ranked Pakistans leadin g Company for Corporate Social Responsibility (CSR) in the 1st Asian sustainability Rating (ASR). ASR ranks 200 which is largest listed Companies in ten countries across Asia, on the basis of transparency disclosure of its CSR policies as well as practices. Besides, the Corporation have also achieve the distinction of being in the only Pakistani Company including in ASRs top 50 Asian Companies. The rating examine companies of their performance in the areas of governance and Policy, Corporate Social Responsibility strategy communication, marketplace and supplying chain, people and workplace, environment as well as community development. Engro is committed for contribution one per cent profit before tax to social investment .[9] 5.11 Unilever Pakistan Limited (UPL) Unilever Pakistan is largest FMCG Company in Pakistan and it is one of the largest multinational operating in the Pakistan. Being a ever expanding company and world class, unilever Pakistan believes that in order to succeed it has to establish as well as maintain the highest standards of Corporate Behavior. As a pioneer company in terms of following concept of CSR in Pakistan, the company has belief strong that as a member of the local community, it has responsibility to give back to the Community which is operates and it can fulfill their responsibility by playing this role for the well being of country as well as society. Therefore, unilever Pakistan has fostered of a necessitate involvement into 3 (three) areas which are the most significant to Pakistan and its people, health and water, education. It comes when to education sector of Pakistan,UPL is also giving funds to different university for better education like in Lahore University Management Sciences (LUMS). As far as concerned the primary education in Pakistan, it has also supporting financial assistant to the NGOà ¢Ã¢â€š ¬Ã¢â€ž ¢s which are working to improvement of education like as the Citizen Foundation (TCF). UPL is also giving job opportunity and resources in the Unilever International Art Project for Schools. UPL also tends to provide the water sustainability initiatives. The shortage of water in Pakistan urges the company to come up with effective solution for ensure water conservation and sustainability. In order to show commitment for water sustainability, UPL has made partnership with Thardeep Rural Development Programme (TRDP)[10] [1] Pakistan Petroleum Limited Economic Review 2-3 2005 [2] Shell Pakistan www.shell.com [3]https://www.shell.com/home/content2/pk-en/society_environment/social_investment/communityandsocial_10171014.html [4]https://www.psopk.com/cr_activieits/PSO CSR activities review 2004. [5]https://www.parco.com.pk/ [6]https://www.ssgc.com.pk/ssgc/society/ [7]KASB: www.kasb.com/corp_citizenship.htm [8] www.ici.com.pk [9]https://www.engro.com/ [10]https://www.unileverpakistan.com.pk/ourvalues/environmentandsociety/corporate_social_responsibility/default.asp