9. Making a Responsible Corporate Contribution to Modern Diplomacy in Myanmar

Abstract

The non-financial responsibilities of organizations (environmental, social, economic and ethical responsibilities) have become increasingly scrutinized by stakeholders across the globe. Such obligations are felt especially keenly by international firms active in “difficult” countries like Myanmar. This paper will explain how even a small company like Premier Oil made a notable, and disproportionate, contribution. In The Millennium Poll on Corporate Social Responsibility , which surveyed 25,000 consumers in twenty-three countries, nearly 50 per cent of respondents said that social responsibility is the most important factor influencing individual impressions of companies. The findings showed further that two in three citizens want companies to go beyond their historical role of making a profit, paying taxes, employing people, and obeying laws; they want companies to contribute to society. Some areas of economic, social, ethical, and environmental responsibility require companies to comply with the law (for example, in relation to health and safety regulations, environmental protection, or corporate governance issues). Others are discretionary, such as commitments (and consequent activities) to maintain and demonstrate a positive economic, environmental, and social performance over time. In situations when the decision about what action to take is at the discretion of the particular company, how much or little it does, and what it chooses to do, all have a bearing upon the way it wishes to be perceived. In other words, the company's approach to its environmental and social responsibilities will help to define its corporate reputation. Corporate social responsibility (CSR) is a concept which has both practical and ethical dimensions. It includes fundamental business concerns such as risk-avoidance and protecting reputation. But it can also mean “doing the right thing”, investing in the community, or creating a place where people simply feel good about working for that organization or firm. Companies at the forefront of implementing corporate social responsibility principles, which I will term “Leadership Companies”, see corporate social responsibility as more than a collection of discrete practices, occasional gestures, or initiatives that are motivated by marketing, public relations, or other business benefits.