Weatherford International Business Environment Essay

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Weatherford International Ltd (WFT) a New York Stock Exchange (NYSE) listed company is one of the world’s leading oil and gas field service and equipment providers, its products and services span the oil/gas well’s life cycle, encompassing exploration, drilling, extraction and production of all forms of oil and gas. WFT employs more than 50,000 people and operates in more than 100 countries worldwide geographically segmented into four global regions that cover all major oil and gas-producing areas, North America: Latin America: Europe/West Africa/ Former Soviet Union: Middle East/North Africa/Asia, with four individual headquarters located, Houston, Moscow, Dubai, and Singapore. In addition, the region operations span many international boundaries and communities that dictate certain trading conditions, customs, legal and government regulation, and environmental policies are met.

Legal Environment
“All business activities, from the establishment of the organisation through to the sale of the product to the customer, are influenced by the law.” Worthington and Britton (2009).
Business law mainly consists of employment law, health and safety law, contract law, consumer law, and accounting law. Legal proceedings can be issued through public law and/or private law. Public law is between the state and an offender and encompasses constitutional law, administrative law, and criminal law. …show more content…

Essentially it is about how business takes account of its economic, social and environmental impacts in the way it operates – maximising the benefits and minimising the downsides… Specifically, we see CSR as voluntary actions that business can take, over and above compliance with minimum legal requirements, to address both its own competitive interests and interests of the wider society.”

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