Name: Tahera Abbas
ID No: 8275
Course Name: BUS303 – BUSINESS ETHICS
Level: JR Class: C12 Date of Submission: 23/3/2014 Shift: Morning ASSIGNMENT – CORPORATE SOCIAL RESPONSIBILTY REPORT ON TESORO
Introduction - Tesoro Corporation (NYSE: TSO), a Fortune 150 company headquartered in San Antonio, Texas, is an independent refiner and marketer of petroleum products. In 2012, their refinery operations included seven refineries in the western United States with a combined capacity of approximately 675,000 barrels per day, which refine crude oil and other feedstock into transportation fuels, such as gasoline, diesel, jet fuel and other products, including heavy fuel oils, liquefied petroleum gas, petroleum coke and asphalt.
1. Describe the corporate social activities of a company.
a. Kind of activities?
A- The corporate social activities of Tesoro are mainly focused to the following groups: People – Employment
Their success is directly tied to their ability to attract, hire, develop, promote and retain a talented and diverse workforce. They achieve these objectives by: Hiring the best people with diverse experiences and perspectives that enhance our ability to grow, Treating employees fairly and equitably by providing equal access to opportunities Rewarding employees in ways that recognize their individual accomplishments and their contributions to business result. Providing employees with meaningful opportunities to grow and develop their skills, Supporting employees with programs to enhance their health and well-being, and Encouraging employees to actively serve in the community and contribute to the community’s health and vitality.
Compensation and Rewards
Tesoro is committed to providing competitive compensation and rewards to attract, retain, reward and motivate employees. They are a pay for performance organization, and their compensation programs align directly to our business objectives. In addition, their comprehensive programs include a pension plan at no cost to employees and a matching Thrift 401(k) Plan with investment alternatives. In keeping with our philosophy of individual accountability, their financial benefits encourage shared responsibility. They provide employees with the tools to save for retirement and ways to enhance their financial security.
Employee Health and Wellness
The health and well-being of employees is vital to our success. They believe healthy employees are more engaged, more productive and better equipped to do their jobs safely and efficiently. Conversely, employee health problems can contribute significantly to both direct medical costs and indirect costs, such as decreased productivity and absenteeism.
Education and Development
Employee Benefits include:
Medical, dental and vision coverage offered to full-time employees and their eligible dependents Wellness benefits, including fitness center and Weight Watchers® reimbursement Flexible spending accounts for medical and dependent care expenses Adoption assistance
Diversity, Inclusion, Equal Opportunity and Non-Discrimination Tesoro offers equal employment opportunities to those who meet our qualifications. They recruit and post job openings nationally and hire the best candidate for each position. They have long recognized our moral and legal obligation to support equal employment opportunities for all, without regard to gender, age, race, ethnicity, color, national origin, religion, marital status, sexual orientation, disability, veteran status or any other protected basis.
Communities – They strive to make an impact in three primary areas: Community Vitality - They aim to make communities stronger and more dynamic by helping people and improving their opportunities in life. Education - They focus on giving students the tools they need to succeed and grow, both in...
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