“ Social scientists have been searching for hard evidence on environmental, social, and government performance to financial performance. They have found that it never hurts to do the right thing and did may pay” (Stangis, 2017). In this quote, Stangis explores the idea of utilizing ethical social and economic responsibilities by companies and the benefits that result from it. ExxonMobil Corporation has taken part in social responsibility in the world. It has taken initiatives to improve education in different fields such as engineering, math, science, and technology. It also has taken part in empowering women to achieve economic goals. For example, in Nigeria, where women learned how to convert polythene bags into products that can be sold like mats, bags, and phone cases. Stangis further state that, “Companies should focus on and prioritize the linkage of businesses to a unique competitive advantage” (Stangis, 2017). The ExxonMobil Company has developed strategic methods to ensure it is relevant in the industry. For example, its participation in the Waste to wealth project led to its affiliates receiving an award as the Best Company aimed at Poverty reduction. This confirms that ExxonMobil is a socially responsible company. Over the last three years, ExxonMobil has been consistently ranked among the largest companies receiving the most revenue. In 2018 it had a total of 255.6 billion U.S dollars. In 2019 the company ranked eighth with a revenue of 514 U.S dollars. The company is one of the leading global player companies in the gas and oil industry.
“ Stand out and figure things out yourself” (Morabia, 2018). This quote is also applicable to the company since it has cultivated a culture of participating in social responsibility and the welfare of society at large. Morabia (2018) further state “Be reflective if you must be armed”. This quote requires that ExxonMobil Company to reflect on its impact or participation in climate change. The company ought to take measures to prevent adverse effects on climate as it supports fossil fuels. By being reflective, it can defend its stand from any critics that oppose its operation. The ExxonMobil Company exercises leadership and not tyranny. It is governed by strategic methods that benefit the company and its employees and society.
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The ExxonMobil operations have faced criticism for resulting in the tragedy of the common. The allegations are due to the climatic changes resulting from its participation in the extraction of fossil fuels. The company has been accused of increasing the intensity and frequency of flooding, rising sea levels, and storms. It has also been associated with decreasing water availability as it uses water all through its product value chain. However, the company is finding measures to deal with these allegations.
References
Morabia, A. (2018). This Is How Important History Is.
Stangis, D., & Smith, K. V. (2017). The executive’s guide to 21st century corporate citizenship: How your company can win the battle for reputation and impact . Emerald Group Publishing.
