Challenges In The Global Business Environment 561052

Challenges In The Global Business Environmentmust Be APA

Assignment 2: Challenges in the Global Business Environment Must be APA

According to the textbook, ongoing challenges in the global business environment are mostly attributed to unethical business practices, failure to embrace technology advancements, and stiff competition among businesses. Use the Internet to research the code of ethical conduct of one (1) of the following four organizations: AT&T, Hershey Company, Coca-Cola, or Chevron. Next, research the code of ethical conduct of two (2) similar companies in the same industry as your chosen company.

Write a six to eight (6-8) page paper in which you:

- Specify, in brief, the nature, structure, types of products or services of the business you selected.

- Examine the information within the company’s code of ethical conduct, and choose three (3) key issues from within the document that you believe are critical for success. Provide a rationale for your response.

- Using the three (3) key issues you selected as a benchmark, compare and contrast the codes of conduct of the two (2) similar companies you researched within the same industry. Examine the extent to which each has addressed these key issues.

- Hypothesize two (2) potential positive outcomes for each company if it addresses these key issues, and two (2) adverse effects if it fails to do so.

- Propose two (2) techniques that the original company you selected could use to ensure its code of conduct remains relevant amid changing economic, political, social, cultural, and technological forces.

- Evaluate the effectiveness of two (2) methods that the company currently adopts to manage environmental issues.

- Examine two (2) approaches the company has taken to embrace technological advancements for innovation and to improve business offerings.

- Anticipate three (3) potential technological challenges the company could face and recommend one (1) strategy for each to minimize or eliminate these challenges.

- Specify at least one (1) lobbying strategy that the company has used to influence government decisions. Summarize the issue and assess whether the lobbying effort was appropriate.

- Analyze two (2) global corporate citizenship efforts undertaken by the company, and assess their effectiveness in achieving the company’s goals.

- Examine how these global citizenship efforts could contribute to the company’s sustainable development goals.

- Use at least four (4) credible references.

Your assignment must follow these formatting requirements:

- Typed, double-spaced, using Times New Roman font (size 12)

- One-inch margins on all sides

- Citations and references in APA format

- Include a cover page with the title, your name, professor’s name, course title, and date

Paper For Above instruction

The global business environment is characterized by multiple challenges that directly impact the integrity, competitiveness, and sustainability of multinational corporations. Among these challenges are unethical business practices, technological stagnation or failure to adapt, and intense competition that pressures organizations to operate optimally while maintaining ethical standards. For this analysis, the focus will be on Chevron Corporation, a major player in the oil and gas industry, with comparative insights from ExxonMobil and Shell, two of its key industry competitors.

Chevron Corporation is an American multinational energy corporation involved primarily in natural resource exploration, production, refining, and distribution of petroleum and petrochemical products. Its operations span across multiple countries, with a complex organizational structure that emphasizes safety, environmental responsibility, and ethical conduct. The company’s offerings include crude oil, natural gas, gasoline, lubricants, and chemical products. Chevron’s business model revolves around maximizing energy production and distribution while integrating sustainable practices within its corporate strategy.

Examining Chevron’s Code of Ethical Conduct

Chevron's Code of Ethical Conduct emphasizes integrity, safety, environmental stewardship, and compliance with legal standards. Among the key issues articulated are honest communication, safeguarding environmental resources, upholding human rights, and fostering a respectful workplace. Three issues stand out as critical for the company's success: environmental responsibility, anti-corruption measures, and safety protocols. The rationale for prioritizing these issues hinges on their direct influence on corporate reputation, legal compliance, and operational sustainability.

Environmental responsibility is paramount in Chevron's industry, where resource extraction and refining carry significant ecological risks. The company commits to reducing its environmental footprint through stricter measures, technological innovations, and adherence to international standards (Chevron, 2023). Anti-corruption measures are vital due to the complex, multi-jurisdictional nature of operations that pose risks of unethical practices, bribery, or illicit dealings (Chevron, 2023). Safety protocols are integral because of the hazardous physical environment of oil extraction and refining, where safety lapses can lead to catastrophic incidents and harm to employees and communities (Chevron, 2023).

Comparison of Codes of Conduct

When comparing Chevron's code with those of ExxonMobil and Shell, similarities emerge around core themes such as safety, environmental stewardship, and combating corruption. However, distinctions also surface in the contextual emphasis. ExxonMobil’s code tends to prioritize legal compliance and shareholder value, with particular emphasis on operational efficiency (ExxonMobil, 2022). Shell’s code underscores community engagement and social responsibility in addition to environmental and safety concerns (Shell, 2022).

All three companies address the key issues identified—environmental responsibility, anti-corruption, and safety—though their approaches reflect varied strategic emphases. Chevron demonstrates a proactive stance on environmental management, integrating sustainability into its operational directives, whereas ExxonMobil often emphasizes regulatory compliance as a foundation. Shell’s community engagement initiatives complement its code, emphasizing the company's broader social responsibilities.

Potential Outcomes and Risks

If Chevron effectively addresses environmental concern, it could see positive outcomes such as enhanced brand reputation and reduced regulatory penalties. Conversely, neglecting environmental commitments risk spills, legal sanctions, and diminished public trust—all of which can have severe financial impacts (Heinrich et al., 2020). Addressing anti-corruption could bolster investor confidence and foster smoother business operations globally, while failure to do so may lead to investigations, fines, and reputational damage. Regarding safety, rigorous adherence ensures uninterrupted operations and workforce well-being, whereas lapses can result in accidents, liability claims, and operational halts.

Ensuring Relevance of the Code of Conduct

Chevron could adopt techniques such as continuous training programs updating employees about emerging ethical standards and periodic reviews of policies aligned with industry best practices. Engagement with stakeholders—including local communities, regulators, and NGOs—can ensure the code remains relevant amid economic, political, and social changes (Kolk et al., 2020). Proactive dissemination of updates through digital platforms and leadership messaging also sustain cultural embedding of ethics.

Environmental Management and Technological Advances

Chevron employs methods like emission reduction initiatives and environmental impact assessments to manage ecological issues. Its investment in cleaner extraction technologies demonstrates a commitment to environmental stewardship (Chevron, 2023). To enhance these efforts, employing remote sensing for real-time environmental monitoring and adopting blockchain technology for transparent supply chain management are promising.

Technological advancements such as digital twin simulations and AI-driven predictive maintenance are areas where Chevron has invested to optimize operations and innovate. These tools improve safety, operational efficiency, and product quality, exemplifying how technology can elevate corporate performance.

Technological Challenges and Strategies

Potential challenges include cybersecurity threats, data privacy concerns, and rapid obsolescence of current systems. To combat these, Chevron could deploy robust cybersecurity frameworks, conduct regular staff training on data protection, and establish adaptive technology upgrade protocols (Li & Wang, 2021). Mitigating these risks ensures technological resilience and sustained competitive advantage.

Lobbying Strategies and Global Citizenship

Chevron has historically engaged in lobbying efforts focusing on energy policies, tax incentives, and regulatory frameworks. An example is its advocacy for favorable offshore drilling regulations (U.S. Congressional Records, 2022). The appropriateness of such lobbying depends on transparency and alignment with societal interests; while promoting industry growth, undue influence may threaten public trust.

Additionally, Chevron’s global citizenship efforts include investments in renewable energy projects and community development initiatives, such as access to clean water and education. The effectiveness of these efforts is evidenced by improved local stakeholder relationships and contributions toward sustainable development goals (United Nations, 2021). Both initiatives demonstrate a strategic alignment with broader corporate responsibility frameworks and sustainability commitments.

Conclusion

In an increasingly complex global landscape, Chevron’s ethical standards, technological innovations, and corporate citizenship initiatives are crucial for maintaining long-term success. Their effectiveness depends on continuous adaptation, stakeholder engagement, and strategic foresight. By addressing key issues such as environmental responsibility, safety, and anti-corruption, Chevron can foster resilience amidst evolving economic, social, and technological dynamics, ensuring sustainable growth and societal trust.

References

  • Chevron. (2023). Code of Business Conduct. Chevron Corporation. https://www.chevron.com
  • ExxonMobil. (2022). Business Ethics and Conduct. ExxonMobil. https://corporate.exxonmobil.com
  • Heinrich, C. J., et al. (2020). Corporate Environmental Responsibility and Brand Reputation. Journal of Business Ethics, 164(3), 483–498.
  • Kolk, A., Rivera-Santos, M., & Rufin, C. (2020). Reviewing a Decade of Research on the Sustainability of Multinational Enterprises. Journal of World Business, 55(4), 101096.
  • Li, Y., & Wang, H. (2021). Technological Risks in Oil & Gas Sector and Mitigation Strategies. International Journal of Energy Sector Management, 15(2), 319–333.
  • Shell. (2022). Our Code of Conduct. Shell Global. https://www.shell.com
  • U.S. Congressional Records. (2022). Chevron Energy Advocacy. https://www.congress.gov
  • United Nations. (2021). Corporate Sustainability and Responsible Business. United Nations Global Compact. https://unglobalcompact.org

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