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Essay / Research Paper Abstract
This 7-page paper discusses the concepts of legitimacy theory and social contract theory. The paper also compares and contrasts the voluntary environmental disclosures (VED) of ExxonMobil and Royal Dutch Shell. Bibliography lists 4 sources.
Page Count:
7 pages (~225 words per page)
File: D0_MTlegitheo.rtf
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Unformatted sample text from the term paper:
citizens. Terms such as "corporate social responsibility" (or CSR) are consistently bandied about, with the idea that the company that embraces this concept will be the one that succeeds. In
this paper, well examine two such companies, Dutch Royal Shell and ExxonMobil, to determine how they operate toward voluntary environmental disclosures, or VED). Both of these companies, in recent years,
have embraced both the legitimacy theory and the theory of social contracts. Before we compare and contrast Dutch Royal Shell and
ExxonMobil, it would first be helpful to understand, exactly, both legitimacy theory and social contract theory. Social contract theory is, in fact, a derivative of legitimacy theory. According to Deegan
(2000), legitimacy theory points to the fact that organizations are continually operating to ensure that outside parties are legitimate - in other words, that theyre aware that theyre part of
the larger social environment. The way in which they operate lends legitimacy to what theyre trying to do - and by being more transparent and "legitimate," this can add to
their success. Consumers tend to regard them more favorably and are more wiling to buy products and services from them. Without legitimacy theory, the opposite can happen. In the next
section, well discuss ExxonMobil and how it behaved when its tanker Valdez ran aground on Prince Island Sound in Alaska. The company didnt behave very well - or very legitimately.
As a result, the company got a black eye, with consumers threatening boycotts (and carrying them out) at the gas stations. This is not to suggest that a company embracing
legitimacy theory will lead to scads and scads of sales. What it does mean is that consumers are more likely - and willing - to buy from these companies.
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