Designing a governance model of National Iranian South Oil Company: A Study on Dimensions of Corporate Sustainability

Innovation in governance mechanism is considered as an important tool in directing the decisions of the board of directors of companies to create a balanced relationship in economic, social and environmental dimensions and the way to achieve the goals of corporate sustainability .The purpose of this paper is to design an indigenous governance model for the National Southern Oilfields Company, tailored to the nature of its activities and environmental conditions. Therefore, the components and indices of the Global Reporting Organization were considered as the primary guide for conducting a Delphi research. Based on an exploratory studies, including interviews, review of governance literature and the sustainability reports of the world's five largest oil companies, the initial conceptual model was designed and used as the basis for the Delphi questionnaire. We conducted a judgement sampling to select nineteen members of the board of directors and external experts as members of Delphi panel and managed a survey in two rounds. The final model of governance for sustainability of the company, included eight components and fifty nine indices that was accorded within the framework of the company's articles of association.