Sunday, December 29, 2019

Beyond Petroleum ( Bp ) - 1192 Words

Beyond Petroleum (BP) formerly British Petroleum is a company that claims to be devoted to finding new energy sources with little impact on the environment. Ferrell, Fraderich, and Ferrell, explain in their Business Ethics textbook in 2012 that after several environmental tragedies in the mid-to late 2000’s, the company had to reassess their ethical standards and make changes to repair their image and regain the confidence of their stakeholders. During this time, they began investing in wind, solar, biofuels, and many other new types of energy sources. They also created programs to educate citizens and stakeholders about environmental awareness. Most importantly, though, they also tasked their ethics and compliance team with creating a code of conduct policy and communicate it out to every employee (p.343-345). Considering that BP is a worldwide company, with employees of diverse languages and cultures, this was a very difficult task to complete. Not only would it be a challen ge to communicate the new code of conduct out to each employee, but it was even more difficult for the company to enforce it. Because of the lack of understanding on how to deal with ethical dilemmas, managers and employees within the company did not complete proper risk assessment, leading to the worst oil spill in U.S. History. This would come to be known as the Deepwater Horizon spill. BP commonly outsources machinery and companies to complete certain tasks. They did in this case by hiring an oil rigShow MoreRelatedBps Rebranding After The Us Gulf Of Mexico Oil Spill 20101730 Words   |  7 Pagescomplete failure of the product or service. I will be writing this essay on the powerful rebranding of BP oil and gas supplies and how they overcame the crisis of the US oil spill. The oil spill happened on the 20th April 2010 and had a huge effect on the company’s image, reputation and success. 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The British based energy company also faced other problems at the site of the oil spill. More than 40 million gallons (estimated data) of oil spewed into the Gulf of Mexico. Oil spillRead MoreSocial, Cultural and Environmental Responsibility of Corporate Business Leaders1482 Words   |  6 Pageshttp://apus-green-building.com/2010/05/04/corporate-social-responsibility-and-stock-values-a-lesson-from-bps-deep-horizon-catastrophe/ †¢ Solman, Gregory (2008) BP: Coloring Public Opinion?, Adweek.com [Internet] January 14th, 2008. Available at http://www.adweek.com/news/advertising/bp-coloring-public-opinion-91662 †¢ http://www.iisd.org/sd/ †¢ http://www.marketwatch.com/investing/stock/bp Case Study: Corporate Social Responsibility and Stock Values, a lesson from British Petroleum’s Deep HorizonRead MoreBp And Corporate Social Responsibility1584 Words   |  7 Pagesminutes to ruin it. 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