Petroleum industry
Petroleum was the main source of energy in the 1800’s. Several companies ventured into petroleum business owing to its lucrative nature. However, these companies operated as they pleased since they faced minimal influences and criticisms from external parties. Over time, the public, government and other stakeholders soon realized the environmental and societal impact of the sector and devised control mechanisms. Thus, the public, government and external stakeholders affect the conduct of business in the petroleum oil industry.
The petroleum industry is characterized by a host of external influences that affect business processes. External influences played a minimal role in regulating the social and environmental conduct and behavior of businesses in the petroleum industry. Thus, players in the industry were socially and environmentally irresponsible. The companies also made little technological and managerial innovation to manage the obvious sustainability issues that confronted them. Legislations during the formative years of the industry placed little liability on business owners. Therefore, authorities lacked the mandate to impose liability on business owners. For instance, the United States was characterized by the Limitation of Liability Act of 1851 which presided over environmental issues in the oil and transport sectors. However, the liability act created a loophole that business owners exploited to avoid damage claims. For instance, the owner of a vessel could avoid liability by stating that he was unaware of the problem before its occurrence. Another legislation that governed the conduct of players in the industry was the Oil Pollution Act. The legislation only applied to the deliberate discharge of oil in the environment. Thus, a lack of proper legislation and regulation meant that American oil companies in the past made minimum effort to prevent and avoid the potential effects associated with environmental pollution.
The lack of effective regulations and legislations meant that the American oil industry was riddled with high cases of accidental spills and pollution. For example, in 1910 a poorly managed oil drill in the Midwest Sunset Oil in California City resulted to an unexpected blow out of crude oil. As a result, the tankers in place were overloaded and spills occurred. The incident resulted to one of the largest accidental spills in the history of the United States. The accident was so severe that oil lasted for 18 months and 1,100,000 tons of crude oil was released in the surrounding environment. However, as the world moves forward, several companies in the petroleum industry have been forced to re-evaluate their business processes. One such company is Royal Dutch Shell. The company faces a host of external influences such as the public, environmental activists, and the government who affect how businesses operate. Consequently, the various external forces and pressure have caused the company to live up to the potential of the values they proclaim.
The public and environmental activists greatly affect the operations of Royal Dutch Shell. In the late 1960’s, several oil accidents happened throughout the world. The accidents heightened public resentment against oil companies for their irresponsible behavior. The resentment was also accompanied by public outcry regarding the loosely regulated activities of the petroleum industry. It is because of the heightened public outcry and widespread protests against companies in the industry that regulatory changes were enacted.
Environmental activists and public outcry necessitated the United States to restate and reexamine the provision of the Limitation of Liability Act of 1851. Inadequacies of the country’s regulations were exhibited following the Torrey Canyon oil spill incident. The spill caused damage to the English marine ecosystem channel, though the American company responsible for the spill was only liable for 50 dollars, yet the entire clean up expenses cumulated to 8 million dollars. It is this incident alongside other domestic pollution accidents during the late 1960’s that caused the public to protest against US regulations on oil companies. Consequently, Congress enacted a series of legislations that tightened the practices of US Based companies. Among these are the Clean Water Act that was enacted in 1972, the Trans-Alaska Pipeline Authorization Act of 1973 among others. The Torrey Canyon oil spill surprised the public and authorities of European countries as well as the United States population. It is as a result of this event and other less destructive incidents that the International Convention for the prevention of Pollution from ships was enacted in 1973. The convention addressed several issues including the prevention of oil spills and the associated financial liabilities. The convention resulted to global efforts that forced the petroleum industry to become environmental and socially friendly, resulting to heightened sustainability. Consequently, MARPOL conventions have become the global standard that sets and regulates the operations of the oil industry on all water bodies.
Besides the role of the convention and amendment of US legislations, governments around the world have also enforced stricter regulations for the petroleum oil industry. There are also a host of international rating agencies that determine the sustainability of major corporations. Therefore, companies such as Royal Dutch Shell are forced to exhibit high sustainability standards as poor ratings tend to affect investors and creditors’ interest in these corporations. Example of ratings includes Global 100, and 2009 Corporate Equality Index, among others. Thus, the Royal Dutch Shell Corporation has been undoubtedly affected by these external influences to instigate sustainable environmental practices.
Corporate specific external forces also play a significant role in fostering sustainable practices in the petroleum oil industry. A significant corporate-specific external force that causes Royal Dutch Shell to do more to become socially and environmentally sustainable is the global outcry concerning its operations in Nigeria. The Royal Dutch Shell has been operating in the oil-rich Niger Delta region for over 50 years. In all its years of operation, the company was considered socially and environmentally responsible. Hennchen explains that the community development projects by Shell in Nigeria earned it a good CSR reputation in 2011. For instance, the Royal Dutch Shell contributed 18 million to social and development projects as well as 55.3 million to the Niger Delta Development Commission. Despite the astounding CSR reputation, the company has also been caught up in various controversies. For instance, it is alleged that the company participated in local political disputes and corrupt dealings. Among the critical accusations is that Shell has contributed to spills in the fragile Niger Delta. One such incident was an 8,800-ton oil spill that resulted in an explosion. In his report, Hennchen also mentioned that Royal Dutch Shell has been responsible for various shady operations in Nigeria. The company engages in various activities to satisfy the country’s politicians and other influential people. Thus, it is hardly reprimanded for the several oil spills that result from the malfunction of old pipes and equipment.
Another major external factor that affects the operations of the Royal Dutch Shell is the pressure from their customers. The company effects changes depending with the reaction and opinions of key stakeholders. For example, Shell concedes that its ability to succeed in the fuel business is determined by the extent to which their customers are willing to buy their products. Consequently, if the company realizes that they may not have a market to sell to, they are forced to change the product offerings. Thus, the influence of buyers to the business is paramount since change in consumer attitudes may necessitate the need for change or closure of business.
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