Within the world of business, the main responsibility for corporations has historically been to make money and

increase shareholder value. In other words, corporate financial responsibility has been the sole bottom line driving force. However, in the last decade, a movement defining broader corporate responsibilities for the environment, for local communities, for working conditions, and for ethical practices has gathered momentum and taken hold. Corporate Social Responsibility (CSR) is defined as the way companies integrate social, environmental, and economic concerns into their values and operations in a transparent and accountable manner. It is integral to long-term business growth and success, and it also plays an important role in promoting values internationally and contributing to the sustainable development of communities. The Government works with the business community, civil society groups, with foreign governments and communities as well as other stakeholders to foster and promote CSR.. In the long run, being socially responsible also makes companies more profitable by reducing the risk of negative publicity, consumer boycotts and shareholder activism. Also major investors are now more likely to invest in a corporation that has shown corporate responsibility. BP oil spill was the largest oil spill in U.S. history continues to devastate Gulf wildlife and the environment and referred to as the worst environmental disaster in U.S. history. In the case of BP oil spill, I believe it is a matter of corporate social responsibility in the sense that BP didnt put the necessary measures to be socially responsible to their environment. The major ethical issue in this case study was they failed to protect the businesses, and their environment BP like most organizations put profits ahead of being environmental responsible and was held liable for their unethical behaviours. The company is now paying for its unethical business conduct of not ensuring oil wells was secure and leak-proof. If they had followed the code of ethics pertaining to the company and environmental sustainability the oil spill that ravaged the community wouldnt have happened. The stakeholders in this regards are people who were directly or indirectly affected by the oil spill, the government whose resources was used to clear the damages, the business communities, the fishermen the seafood industry, tourism industry, personnel lives who worked on the rig lost their lives, while some were injured. The oil spill affected not just the society but just its corporate image as well. The economies of cities around that area like Florida, Texas, the gulf coast etc. were also greatly affected. The families of the employees were also affected by the loss of their members. Immense damage was done to the smallest and most vulnerable wildlife and marine in that region even till today, many people lost their jobs, loss of properties along the coasts and beaches as a result of this catastrophe. To me I would say the whole world was affected one way or the other, indirectly or directly. BP is socially responsible for its environment in terms of sustainability. It is to protect, maintain, and create measures in place to prevent such from happening again by ensuring that their oil wells are secure and leak-proof. BP has regained some of its customer loyalty by admitting to its faults and creating procedures and business code of ethics to abide with in its operation. They also made amends

by compensating small business for lost wages due to their liability. New contingencies were put into place to safeguard the equipment and more stringent safety checks on a routine basis. Today, more and more companies are realizing that in order to stay productive, competitive, and relevant in a rapidly changing business world, they have to become socially responsible .As a result of the aftermath and consequences of the BP Oil spill, Businesses are now incorporating into their strategy and business plans to be socially responsible for their actions and environment. Business would want to protect their corporate image and present a positive reputation to customers, industries, environment and the world. This will further enhance their performance and profitability as major investors are now more likely to invest in a corporation that has shown corporate responsibility. Customers will also patronize companies they see that is being socially responsible by putting their interest and the environment at heart. Corporation also try to update strategic plans and course of action towards any unseen contingencies.