TCII :: Management Consultants

Corporate Social Responsibility (CSR) is a phrase that’s thrown around a lot these days. But as we move further into the 21st century, in a time when the environment is at great risk due to two centuries of industrial excess and consumer confidence is at an all time low, a greater sense of corporate responsibility is absolutely imperative.

The ongoing case of the Deepwater Horizon oil spill in the Gulf of Mexico is a prime example of this, and demonstrates that with great profit comes great responsibility. BP is currently working proactively to deal with the environmental disaster caused by the explosion of its oil rig, but has been widely criticised by the media and elements of the US government for failing to stem the flow of oil sooner.

BP’s case is not simply a PR disaster, it will doubtless affect their business and the wider oil industry for decades to come, as the US Congress discusses tighter regulations on off-shore drilling, and is considering a ban on drilling by companies with poor safety records.

While this is perhaps an extreme case, it highlights the fact that the failure of corporations to act with a level of responsibility proportionate to the risks they take and the profit they make, can result in loss of business, lawsuits, bad reputation and environmental chaos.