Corporate social responsibility practices in oil and gas sector in Saudia Arabia
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MBA in Finance
Dublin Business School
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Purpose: The current research project is purposed to critically evaluate the significance as well as the need for implementation of the Corporate Social Responsibility (CSR) practices specifically in the context of Saudi Arabian oil and gas industry. Research Approach: This research is qualitative by nature, and for executing it, the application of the inductive approach and interpretivism philosophy is suitable. Interview is conducted in the present research work on 5 customer relations managers who have experience in Saudi Arabia's gas and oil industry. The sample size is selected by purposive sampling. Findings: The research contributes towards evaluating that the CSR practices are needed in the oil and gas sector of Saudi for enhancing the environmental and social feasibility of the relevant business operations. CSR strategies are significant to reduce the harmful environmental impact of the oil extraction and mining operations. The current CSR strategies in Saudi Arabia are supported by governmental plans and are based on the equality norms of Islam. There is an inadequacy of institutionalisation in the CSR practices followed in Saudi Arabia. However, CSR implementation faces challenges regarding the lack of employee training in CSR practices and high greenhouse gas emission. Recommendations: It is recommended to the oil and gas organisations located in Saudi Arabia that they offer employee training regarding practising of the CSR approaches for creating balance among the business procedures, customer value and environmental standards. It is also recommended to take the assistance of the government empowered CSR programmes that foster the implementation of the CSR practices.