Corporate Social Responsibility in the Oil and Gas Industry: Environmental Management Systems as a Source of Sustainable Development

The environmental aspect of corporate social responsibility (CSR) expressed through the process of the EMS implementation in the oil and gas companies is identified as the main subject of this research. In the theoretical part, the basic attention is paid to justification of a link between CSR and environmental management. The achievement of sustainable competitive advantage as a result of environmental capital growth and inclusion of the socially responsible activities in the corporate strategy is another issue that is of special significance here. Besides, two basic forms of environmental management systems (environmental decision support systems and environmental information management systems) are explored and their role in effective stakeholder interaction is tackled. The most crucial benefits of EMS are also analyzed to underline its importance as a source of sustainable development. Further research is based on the survey of 51 sampled oil and gas companies (both publicly owned and state owned ones) originated from different countries all over the world and providing reports on sustainability issues in the open access. To analyze their approach to sustainable development, a specifically designed evaluation matrix with 37 indicators developed in accordance with the General Reporting Initiative (GRI) guidelines for non-financial reporting was prepared. Additionally, the quality of environmental information disclosure was measured on the basis of a quality – quantity matrix. According to results of research, oil and gas companies prefer implementing reactive measures to the costly and knowledge-intensive proactive techniques for elimination of the negative environmental impacts. Besides, it was identified that the environmental performance disclosure is mostly rather limited, so that the quality of non-financial reporting can be judged as quite insufficient. In spite of the fact that most of the oil and gas companies in the sample claim the EMS to be embedded currently in their structure, they often do not provide any details for the process of their implementation. As a potential for the further development of EMS, author mentions possible integration of their different forms in a single entity, extension of existing structure on the basis of consolidation of the structural and strategic precautions as well as development of a unified certification standard instead of several ones that exist today in order to enhance control on the EMS implementation.

CSR standards and financial performance in forest industry - Empirical analysis

The definition of corporate social responsibility (CSR) has been developed since 1950s but even today there is no consensus what CSR includes. The main purpose of this thesis was to find out whether financial performance is better among first adopters of CSR standards in forest industry. To support the main purpose it was critical also investigate what kind of companies adopt CSR standards. The empirical part of the thesis based on a survey which was done in 2010 to forest industry companies and financial data that was gathered from different databases from years 2003-2010. According to the research results it seems the early CSR standards adopters benefits the position of the first adopter many times. Especially cash position and solvency of early adopter companies were better than later adopters or those who did not adopt CSR standards at all. Profitability seemed to be better among CSR standards adopters but early adopters did not have significantly better position compared to later adopters. CSR standards adopters were companies that considered themselves as environmental performance pioneers and had employee oriented management.

THE ROLE OF INFORMATION TECHNOLOGY IN CREATING SUSTAINABILITY VALUE FOR FINANCIAL INSTITUTIONS IN 2020 : a scenario planning approach

The growing importance of global sustainability issues has been causing many changes to the financial services industry. Facts such as climate change, social development and the financial crisis in 2008 have been making banks reconsider the manner that they consider environmental, social and economic factors in their decision-making process. At the same time, information technology (IT) has been transforming the financial service industry and its fast development has casted doubts on the way it should be managed within an organization. This current changing environment brings a number of uncertainties to the future that cannot be addressed using traditional forecasting techniques. This research investigates how IT can bring value to sustainability in the financial service industry in 2020. Through the use of a scenario planning technique, we analyzed how trends in the current environment (considering the relation between sustainability, financial institutions an IT) can lead to four different future scenarios. Then, we discussed how IT can improve a bank’s sustainability performance, considering the limitations of each scenario.

The Role of a firm’s mindset in international success - case study of Finnish marine industry firms

This thesis investigates the influence of a firm’s mindset on international success in the context of the Finnish marine industry. The study draws theoretical wisdom from organisational behaviour and strategic management literatures. The research aim set for this study was to identify and categorise existing strategic types based on mindsets found in the marine industry SMEs, and to link the influence of mindsets with success by examining the role of mindsets in a firm’s performance. Mindsets of firms were conceptualised as aggregate collections of perceptions that influence how the surrounding environment is discerned by the members of the firm. Mindsets are idiosyncratic to firms and therefore important firm-specific resources which influence decision-making and can be observed through the strategic behaviour of firms. Qualitative case study method was applied which was further supported by quantitative data on the financial performance of the ten case firms. Taxonomy based on the dimension of mindsets and prediction was developed to demonstrate four ideal types of firms identified within the marine industry. It was found that all of the case firms emphasised adaptation in their strategy while planning was emphasised to a varying degree. Moreover, two different methods of adapting were found; proactive and reactive. Firms which plan in the long-term and adapt proactively constantly investigate whether their plans are synchronous with the realities of the market; by having an open mindset, a firm’s perception of the reality of the market is enabling the firm to develop value creating strategies which are superiorly informed.This finding was supported by the financial data and led to the proposition that having an open mindset and placing a high level of emphasis on prediction may have a positive influence on international success. Also, it was proposed that concentrating only on exploiting business opportunities in the present time and not exploring any addition opportunities can have a negative influence on the firm’s performance, even if the mindset of the firm is open.

Trust Embedded Open Innovation: Human-Centricity in the Financial

Globalization and interconnectedness in the worldwide sphere have changed the existing and prevailing modus operandi of organizations around the globe and have challenged existing practices along with the business as usual mindset. There are no rules in terms of creating a competitive advantage and positioning within an unstable, constantly changing and volatile globalized business environment. The financial industry, the locomotive or the flagship industry of global economy, especially, within the aftermath of the financial crisis, has reached a certain point trying to recover and redefine its strategic orientation and positioning within the global business arena. Innovation has always been a trend and a buzzword and by many has been considered as the ultimate answer to any kind of problem. The mantra Innovate or Die has been prevailing in any organizational entity in a, sometimes, ruthless endeavour to develop cutting-edge products and services and capture a landmark position in the market. The emerging shift from a closed to an open innovation paradigm has been considered as new operational mechanism within the management and leadership of the company of the future. To that respect, open innovation has been experiencing a tremendous growth research trajectory by putting forward a new way of exchanging and using surplus knowledge in order to sustain innovation within organizations and in the level of industry. In the abovementioned reality, there seems to be something missing: the human element. This research, by going beyond the traditional narratives for open innovation, aims at making an innovative theoretical and managerial contribution developed and grounded on the on-going discussion regarding the individual and organizational barriers to open innovation within the financial industry. By functioning across disciplines and researching out to primary data, it debunks the myth that open innovation is solely a knowledge inflow and outflow mechanism and sheds light to the understanding on the why and the how organizational open innovation works by enlightening the broader dynamics and underlying principles of this fascinating paradigm. Little attention has been given to the role of the human element, the foundational pre-requisite of trust encapsulated within the precise and fundamental nature of organizing for open innovation, the organizational capabilities, the individual profiles of open innovation leaders, the definition of open innovation in the realms of the financial industry, the strategic intent of the financial industry and the need for nurturing a societal impact for human development. To that respect, this research introduces the trust-embedded approach to open innovation as a new insightful way of organizing for open innovation. It unveils the peculiarities of the corporate and individual spheres that act as a catalyst towards the creation of productive open innovation activities. The incentive of this research captures the fundamental question revolving around the need for financial institutions to recognise the importance for organizing for open innovation. The overarching question is why and how to create a corporate culture of openness in the financial industry, an organizational environment that can help open innovation excel. This research shares novel and cutting edge outcomes and propositions both under the prism of theory and practice. The trust-embedded open innovation paradigm captures the norms and narratives around the way of leading open innovation within the 21st century by cultivating a human-centricity mindset that leads to the creation of human organizations, leaving behind the dehumanization mindset currently prevailing within the financial industry.

A study of the cost structure of the cashew industry in kerala, karnataka and tamilnadu

Since the world demand for cashew kernels has been rising steadily for several years in the past, conferring significant price increase the processing of cashew remains a highly profitable lndustry. India being the earliest and largest supplier of cashew kernels in the world market it is our prestigious obligations to reestablish her pristine monopoly. Further the added importance ot the indutry in the Socio economic context of the State of Kerala makes various measures impervative in order to bring back to the industry its pristine glory at the late sixties to give a face lift and to stabilize the industry. This present study adopts a comprehensive frame work of analysis compassing the major issues involved in the cultivation, distribution, import, processing and marketing of cashew undcr the private and public sector, migration of the industry and the financial requirements of the industry.

A Study Of The Textile Industry In Kerala With Comparative Reference To Tamil Nadu

. The cotton mill industry is one of the important medium and large-scale industries in the State of Kerala. Due to the widespread development of the handloom industry in the State, there is an environment conducive to the growth of cotton spinning mills which produce yarn, the raw material required by the handloom industry. New spin— ing mills are being commissioned. But the performance of the existing cotton spinning and weaving mills in the State is not quite satisfactory. Hence an analysis has been carried out into the profitability and financial position of the industry in Kerala. The objective of the study is to make a financial analysis of the industry covering various aspects such as cost structure, productivity, asset structure, financial structure and working capital management.

The role of industry bodies in changing market practices through self-regulation: commercial property leasing in the UK

The UK government has sought to make changes to commercial property leasing practices. This has been the case since the recession of the 1990s. Industry self-regulation using an industry code of practice has been the vehicle for these changes. However, the code has had little direct success in changing practices. This is despite repeated threats of legislation as a constant backdrop to this initiative. The focus for this research is on the role of the industry bodies in the code initiative. They have been central to self-regulation in commercial leasing. Thus, the aim is to investigate the role of industry bodies in the process of institutional change. The context is industry self-regulation. The specific setting is commercial leasing. The main industry bodies in focus are the British Property Federation and Royal Institution of Chartered Surveyors. An existing model of institutional change forms the framework for the research. A chronological narrative is constructed from secondary data. This is analysed, identifying the actions of the industry bodies within the conceptual stages of the model. The analysis shows that the industry bodies had not acted as convincing agents of change for commercial leasing. In particular there was a lack of theorisation, a key stage in the process. The industry bodies did not develop a framework necessary to guide their members through the change process. These shortcomings of the industry bodies are likely to have contributed to the failure of the Code. However, the main conclusion is that, if industry self-regulation is led by government, then the state must work with industry bodies to harness their potential as champions and drivers of institutional change. This is particularly important in achieving change in institutionalised environments.

Hydrogen embrittlement in an AISI 1045 steel component of the sugarcane industry

This paper will present a failure analysis of a chain component, manufactured with AISI 1045 steel and used for sugarcane transport. During the fabrication process, this component is submitted to induction hardening, just on one surface, before the galvanizing process. The occurrence of surface cracks, during storage, disables the usage of these components. Chemical and metallographic analyses, tensile, fracture toughness, and hardness tests, and fractography were conducted in order to determine the causes of failure. The steel chemical composition was in accordance with AISI 1045. The metallographic analyses and fractography did not exhibit the presence of zinc into the cracks; this is an indication that the cracks occurred after the galvanizing process. Tensile and fracture toughness test results are as expected. The crack surface and the fracture toughness specimen surfaces showed two different fracture micromechanisms: dimples and intergranular. The delayed fracture associated with the predominance of intergranular fracture micromechanism at the induction hardened layer and the high hardness level is a clear indication of the hydrogen embrittlement. (c) 2008 Elsevier Ltd. All rights reserved.

SMEs in the environmental goods and services market: identifying areas of opportunity, policies and instruments: case studies: Argentina, Chile, Colombia and Mexico

Includes bibliography

Anaerobic digestion of stillage to produce bioenergy in the sugarcane-to-ethanol industry

Stillage is the main wastewater from ethanol production, containing a high chemical oxygen demand in addition to acidic and corrosive characteristics. Though stillage may be used as a soil fertilizer, its land application may be considered problematic due its high polluting potential. Anaerobic digestion represents an effective alternative treatment to reduce the pollution load of stillage. In addition, the methane gas produced within the process may be converted to energy, which can be directly applied to the treatment plant. The objective of this paper was to investigate the energetic potential of anaerobic digestion applied to stillage in the sugarcane ethanol industry. An overall analysis of the results indicates energy recovery capacity (ERC) values for methane ranging from 3.5% to 10%, respectively, for sugarcane juice and molasses. The processes employed to obtain the fermentable broth, as well as the distillation step, represent the main limiting factors to the energetic potential feasibility. Considering financial aspects the annual savings could reach up to US$ 30 million due to anaerobic digestion of stillage in relatively large-scale distilleries (365,000 m3 of ethanol per year). The best scenarios were verified for the association between anaerobic digestion of stillage and combustion of bagasse. In this case, the fossil fuels consumption in distilleries could be fully ceased, such the ERC of methane could reach values ranging from 140% to 890%. © 2013 Taylor & Francis.

Institutional arrangements in the emerging biodiesel industry: Case studies from Minas Gerais-Brazil

Connecting (small) family farmers to the emerging biodiesel industry requires careful design of the institutional arrangements between the producers of oil crops and the processing companies. According to institutional economics theory, the design of effective and efficient arrangements depends on production and transaction characteristics, the institutional environment, and the organizational environment supporting the transaction between producers and the industry. This paper presents a comparative study on two cases in the feedstock-for-biodiesel industry in the state of Minas Gerais, Brazil. The two case studies represent the production and transaction system of soybeans (Glycine max L Merrill) and castor beans (Ricinus communis L). Important elements of effective and efficient institutional arrangements are farmer collective action, availability of technical and financial support, and farmer experience with particular crops. (C) 2011 Elsevier Ltd. All rights reserved.

Environmental, health and safety cost benefit analysis in the United States chemical industry

The purpose of this research project is to determine whether there is a cost/benefit to allocating financial and other company-related resources to improve environmental, health and safety performance beyond that which is required by law. The issue of whether a company benefits from spending dollars to achieve environmental, health and safety performance beyond legal compliance is an important issue to the chemical manufacturing industry in the United States because of the voluminous and complex legal requirements impacting environmental, health and safety expenditures. The cost/benefit issue has practical significance because many U.S. chemical manufacturing companies base their environmental, health and safety management strategies on just achieving and maintaining compliance with legal requirements when in reality this strategy may actually be a higher cost way of managing environmental, health and safety practices. This difference in environmental, health and safety management strategy is being investigated to determine if managing environmental, health and safety to achieve performance beyond that which is required by law results in a greater benefit to companies in the U.S. chemical manufacturing sector.

Tracking the Trends in Inventory Management in the Automobile Manufacturing Industry Throughout the Business Cycle

This paper investigates the trends in inventory management in the automobile manufacturing industry during recessionary vs. non-recessionary periods. It is an empirical approach to testing the validity of the hypothesis that firms which carry leaner inventories perform better throughout the business cycle and are less affected by variability in the economy than less lean firms. The research also hopes to shed some light on how firm's financial statements can be manipulated through discretionary adjustments made by management pertaining to the valuation of inventories.