...Contemporary Business February 12, 2011 The British Petroleum Company, better known as BP, is an oil and petroleum conglomerate that has serviced consumers’ needs since approximately 1909. When it was first founded by William Knox D’Arcy the company was known as the Anglo-Persian Oil Company (BP Global, 1996-2012). The first few years of business was shaky Winston Churchill believed in its success and supported the oil movement. His speech captured the attention of the United Kingdom government so remarkably that they endorsed and became investors of the Anglo-Persian Oil Company (APOC) (BP Global, 1996-2012). With the growth of heating and automobiles powered by gasoline came the rising success of the APOC. In 1935 Persia renamed its country Iran, thus sparking the company name change to Anglo-Iranian Oil Company (AIOC) (BP Global, 1996-2012). After many ups and downs during and following World War II, the year was 1964 when the AOIC took on its third and present name change to British Petroleum Company, better known as BP(BP Global, 1996-2012). British Petroleum Company is currently a one of the world’s top ranked oil suppliers. With recent economic changes, BP has formed new subdivisions in order to maintain revenue and appeal to consumers. The British Petroleum Company’s presence exists in all 7 global continents. Many of these worldwide operations have partnered up with local affiliates in order to serve all communities. All businesses do not boats the name or BP logo...
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...London, England. The initial name of BP is the Anglo-Persian Oil Company in 1909; in 1954 it changed to its present name British Petroleum. It is combined and reconstructed by the former British Petroleum, Amoco and ARCO (Atlantic Richfield Company). BP’s business has spread to many fields including oil and natural gas, alternative fuels, the production of petroleum based product, aviation fuels and its business about the solar electric power generation is also growing very fast. Since 1981, BP has set up 12 branch companies successively in many fields such as mineral, food, ship, international finance, international detergent with its business spread to more than a hundred countries all over the world. BP has nearly 110,000 employees work all over the world. In 2003, BP is ranked on the FORTUNE as the first five global top 500 companies. Deepwater horizon oil spill and deepwater horizon explosion On 20th April, 2010, the Gulf of Mexico suffered a lot from a great catastrophe of oil spill. The drilling platform of the British Petroleum Corporation exploded in the deepwater horizon in the Gulf of Mexico which led to 11 workers death and very severe environment pollution. This event is regarded as the most severe oil spill incident in the history of America.。 Many people are curious about this catastrophe and people did not know what cause it and what actions would BP take. According to the inspection report BP made on 8th September, BP thought this catastrophe is not only...
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...London, England. The initial name of BP is the Anglo-Persian Oil Company in 1909; in 1954 it changed to its present name British Petroleum. It is combined and reconstructed by the former British Petroleum, Amoco and ARCO (Atlantic Richfield Company). BP’s business has spread to many fields including oil and natural gas, alternative fuels, the production of petroleum based product, aviation fuels and its business about the solar electric power generation is also growing very fast. Since 1981, BP has set up 12 branch companies successively in many fields such as mineral, food, ship, international finance, international detergent with its business spread to more than a hundred countries all over the world. BP has nearly 110,000 employees work all over the world. In 2003, BP is ranked on the FORTUNE as the first five global top 500 companies. Deepwater horizon oil spill and deepwater horizon explosion On 20th April, 2010, the Gulf of Mexico suffered a lot from a great catastrophe of oil spill. The drilling platform of the British Petroleum Corporation exploded in the deepwater horizon in the Gulf of Mexico which led to 11 workers death and very severe environment pollution. This event is regarded as the most severe oil spill incident in the history of America.。 Many people are curious about this catastrophe and people did not know what cause it and what actions would BP take. According to the inspection report BP made on 8th September, BP thought this catastrophe is not only...
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...| 1. Based on the history of the company, why did BP get involved in so much questionable conduct? BP's history extends back to 1901 when William D'Arcy's Anglo-Persian Oil Company first drilled for oil in Persia and after seven years of drilling and darcy's nearly spent his net worth finally oil spewed out and became rich. Unfortunately later at 1914 BP was on the verge of bankruptcy due to the very low demand of oil in global market. Accordingly ,BP's Board strategy focused for decades on selling and making profits by expanding and increasing their market shares and they have neglected BP responsibilities with respect to human and environmental resources in their Mission statements and Corporate goals . Below is part of their new mission statement and underlined parts emphasize how BP have changed their way of thinking and realized how social responsibility and environment are important to their business especially after several disasters that occurred to them last decade. Mission statement: "BP wants to be recognized as a great company – competitively successful and a force for progress. We have a fundamental belief that we can make a difference in the world. We help the world meet its growing need for heat, light and mobility. We strive to do that by producing energy that is affordable, secure and doesn’t damage the environment. BP is progressive, responsible, innovative and performance driven." "Progressive - We believe in the principle...
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...London, England. The initial name of BP is the Anglo-Persian Oil Company in 1909; in 1954 it changed to its present name British Petroleum. It is combined and reconstructed by the former British Petroleum, Amoco and ARCO (Atlantic Richfield Company). BP’s business has spread to many fields including oil and natural gas, alternative fuels, the production of petroleum based product, aviation fuels and its business about the solar electric power generation is also growing very fast. Since 1981, BP has set up 12 branch companies successively in many fields such as mineral, food, ship, international finance, international detergent with its business spread to more than a hundred countries all over the world. BP has nearly 110,000 employees work all over the world. In 2003, BP is ranked on the FORTUNE as the first five global top 500 companies. Deepwater horizon oil spill and deepwater horizon explosion On 20th April, 2010, the Gulf of Mexico suffered a lot from a great catastrophe of oil spill. The drilling platform of the British Petroleum Corporation exploded in the deepwater horizon in the Gulf of Mexico which led to 11 workers death and very severe environment pollution. This event is regarded as the most severe oil spill incident in the history of America.。 Many people are curious about this catastrophe and people did not know what cause it and what actions would BP take. According to the inspection report BP made on 8th September, BP thought this catastrophe is not only...
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...The global ethical position of BP and their exploration of the Gulf oilfields. BP (formerly British Petroleum) is one of the world’s largest oil and energy companies, which provides fuel, energy and petrochemical products. They have been in existence since the early 1900’s and have gone through a number of changes. In July, 2003 after merging with Amoco they rebranded as a ‘beyond petroleum’ company. Their logo, a sunburst of green, yellow and white, symbolizes dynamic energy in all its forms. (BP, 2010). Their ‘beyond petroleum’ tagline featured BP as a company that was concerned with the environment and its corporate social responsibility (CSR). BP’s Director of Business ethics outlined their commitment to ‘being ethical’, which included respect for human rights, avoiding harm to people and the environment , avoiding conflicts of loyalty and interest. (Broome 2003). However, as a result of the oil spill in the Gulf of Mexico in 2010, BP’s ethics policy have been placed under extreme scrutiny, exposing them as a company whose marketing strategies is misaligned to their actions. This article looks at BP’s global ethical position with regards to their exploration in the gulf oilfields. It takes a further look at the implication that it caused to their branding and marketing strategies and suggests what marketing strategies they should adopt in order to move forward and regain sustainable competitive advantage. One of BP’s strategies is to create value for shareholders...
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...Prepared for: Mr. Jubred A. Peñano BP Course no: BE F06 International Training Program, Banking Academy Prepared by: Dương Thị Mỹ Hạnh – Class F06B Registration No: ITP F06-039 No of word: Submission Date: 7th November 2013 Executive summary In recent year, the world economic is being stressful; all of economy activities are difficult. A lot of big and small companies fall into bankruptcy. Therefore, in order to maintain and develop the business, companies need to have reasonable strategy and also consider about the internal factors, external factors around the company. British Petroleum is one of the biggest oil companies in the world, it is also affected by the economic crisis. Hence, Bp should understand about the current situation of company to give more strategy which help develop the firm in the future. This report was carried out through the BP website, books and newspapers what relate to the BP’s information. Moreover, the report also provides more information of BP such as vision, mission, goal, value, objectives, BP's environmental and economic situation in the UK. Besides that, this information what was given in this report: * Evaluate the extent BP what it has achieved the objectives of stakeholders * Responsibility of Bp with the factors around the company * Analyst policies in UK what influence to run business * Evaluate economy system allocation of resources and way to use. Introduction British Petroleum- England’...
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...1. Why are BP’s core values important in building a global brand? Answer) British Petroleum which was the top petroleum in Britain. In 1998 BP has to start to increase its business to an international level. Its step in the process was acquisition of foreign companies. BP started with the acquisition of Amoco and later Arco, Castro, and six more companies. But just acquisitions don’t make this company a global leader in the present market. The BP core values are:- Performance: First and a very important value for any company for its growth, is keep on performing with operations in safe and reliable way with their partners, customers and stake holders. Innovation: Developing new technologies for a better tomorrow. BP also helps the car manufactures in innovating new engine designs. Progressive: In the present global which has different values in different countries, every value has to be taken care. In this diversified world, every employee, every customer is important and safety, responsible of them is very important. Green: Environment is the important factor for any organization, and for petroleum organization it is still more crucial. And they should encourage Green movement and have to take steps to save the nature. 2. How do you think the company’s involvement in the Gulf Coast oil crisis in 2010 affected its global brand and its core values? Answer) 20th April 2010 on this day due to an explosion in Gulf of Mexico has caused the British Petroleum company a...
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...BP Deepwater Horizon Accident Part 1(week 4) A Study of Strategic Implications of the Recent BP Deepwater Horizon Accident Date: Submitted by: Mohamed Ahmed Mohamed Student ID Number: H00032634 Chapter 1 Introduction History of British Petroleum (BP) Company British Petroleum is one of the oldest companies in the oil industry. According to BP Global (2010b), the company was founded in the year 1909 in the UK under the name Anglo-Persian Company. Later, in the year 1954, the company changed its name to British Petroleum (BP). Being in the gas and oil industry, BP conducts various operations including exploration and refining of oil among others. According to BP Global (2010), Bp is the largest energy company globally with presence in over 100 countries. Overview of the Deepwater Horizon Accident In the year 2010, BP experienced a Deepwater Horizon oil spill disaster which involved gas release and subsequent explosion in the Gulf of Mexico. According to Webb (2010), the fire lasted for 36 hours and this was followed by leaking of hydrocarbon into the Gulf for eighty-seven days. BP admitted responsibility explaining that the accident occurred following loss of control related to pressure within the well blowouts in which a special type of is designed to keep constant pressure. Impacts of the Deepwater Horizon accident This tragedy impacted immensely on various BP stakeholders i.e. local communities, global customers...
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...Cross-Cultural Perspectives Takeema L. McCaskill ETH/316 September 29, 2014 Christy Vilavanh Cross-Cultural Perspectives Known to be one of the leading international oil, gas, and energy companies, BP has a worldwide reputation of providing consumers fuel for transportation purposes, energy towards heat and light; in addition to, creating petrochemical products and lubricants to keep engines especially in large machineries moving. With headquarters based in London, England, the multinational organization currently have operations in more than 80 countries throughout the world; in fact, has currently 83,900 employees in the United States as well as internationally. BP having a multinational presence since the organization conducts business operations out of countries; such as, Indonesia, West Africa, and Slovak Republic its open to possibly facing cultural issues which can in fact make an impact on the internal operations of the organization, or influence business decisions that effects the organization and its stakeholders. BP has experience more than one issue that could influence the interactions outside of the United States. In 2005 the Texas City Refinery explosion killed fifteen workers in which lead to the organization being fine by the OSHA, and the oil spill on Prudhoe Bay which happened in the Alaska North Slope back in 2006. However, one of the major environmental disasters that will go down in U.S. history is the Gulf Oil Spill of April, 2010. The Gulf...
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...Leith) 5 2. ENEL – (Santiago Liotta) 7 3. MEMC Electronic Materials, Inc. / SunEdison – (Eleonora Ricciardi) 9 4. Sharp Solar – (Aaron Teo) 11 5. Suntech – (Tutram Nguyen) 13 Companies Comparison and Evaluation 16 Conclusions 17 Bibliography 18 Executive Summary In the last decade, the solar industry has seen exponential growth. Government subsidies, climate change debate and need to identify alternative eco-friendly energy sources have fueled this sector. The idea of harnessing renewable energy from the sun is naturally attractive but is it a perfect solution? Do the companies profiting in this business abide to the same United Nations Global Compact principles urged by environmentalist, conservationists, human rights activists, governments and other stakeholders around the world? This paper will provide our findings on our evaluation of five global players against a handful of corporate social responsibility issues in the solar industry. The Solar Photovoltaic Industry and CSR related issues Introduction As traditional hydrocarbon supplies are increasingly difficult and expensive to extract, energy companies have to change their strategy in order to meet the demands of a growing population increasingly dependent on power. Renewable energy has become the focus for many energy companies as they look towards a ‘greener’ future. Whether this increasing commitment has stemmed from a genuine will to do better or from the changing demands of stakeholders is remains...
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...Topic: An analysis of the corporate social responsibility demonstrated by BP in the oil spill in the Gulf of Mexico | | | | | 9/15/2010 | | ------------------------------------------------- Topic: An analysis of the corporate social responsibility demonstrated by BP in the oil spill in the Gulf of Mexico SECTION 1: Introduction The explosion on the Deepwater Horizontal rig on 20 April 2010 led to a serious consequence. A large area of oil spill spread through the Gulf of Mexico. Unfortunately, this accident killed 11 people. (BP Global, 2010) Generally speaking, BP on the surface achieve the highest level of CSR, the discretionary responsibility which is the highest level in the pyramid of CSR. It includes economic, legal, ethical, and philanthropic (discretionary) responsibilities (From bottom to the top) (Carroll, 1999, as cited by Lindgreen, et al, 2009). However, comments from the public and the US government appear to be unsatisfactory to the action taken by BP in this case. This essay will analysis the social responsibility demonstrated by BP by first looking at three journal articles from 2000 to 2010 written by Bird, Hall, Momente and Reggiani (2007); Shen and Chang (2009); and Udayasankar (2008), to further elaborate the insights in the articles and the academic theories into the application of the oil spill case in the Gulf of Mexico SECTION 2: Corporate Social Responsibility Article one Bird, Hall, Momente and Reggiani (2007) examine in...
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...Disaster in the Gulf: One Year Later Business Policy & Strategy (MAN 4764-1) Everest University Presented to: Professor Melissa Sweeney Presented by: Burl Hicks April 18, 2014 Disaster in the Gulf: One Year Later 1. What external environment (general, industry, and competitive) segments do you think BP considered or didn’t consider prior to their drilling of the Gulf Coast? What should the wedding business owners now consider in their external environment? BP decided to drill in the Gulf Coast mostly because of the oil availability and competition. Opportunity was definitely considered by BP. The North Sea was saturated with other oil companies and BP saw an opportunity in the Gulf of Mexico (Pour, 2011). The segment that BP did not do well is the environmental factors around the rig that could make it extremely difficult to repair or monitor when troubles occur. The deep water makes it difficult for them to ensure the cement foundation was sealed properly, and pressure tests were misinterpreted by engineers prior to the explosion (Mullins, 2010). The wedding business owners are now facing the threat from these drilling rigs. The oil industry has a long track of catastrophic failures, so a disaster like the BP spill might happen again. They should consider other business opportunities to complement their current business model in case a spill or leakage occurs. 2. How should BP have handled an external environmental analysis and what environmental changes...
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...Ethical Issues Affecting Bp Operations Management Essay For a company to become a good corporate citizen it must follow the rules put in place by the government to where the company's operations activities are taking place, this also include protecting the environment and local people in the community from any harm from noise or water or air pollution. This report will explore more about the responsibilities BP have for making moral judgement and how their employees are involved and empowered. Also will have information on ethical issues affecting their operational activities and how do they ensure good relationship of employer and employee. Ending part there will be a summary about ethical code for oil industry. INTRODUCTION Considering ethics, a corporations' responsibility for taking actions that are morally sound needs to change. Reviewing the role of the individual, corporations are being subjected to the role of moral agent. The question is, can a corporation, composed of people, be held responsible for its own action as a moral agent? The answer is complexed from an individual's viewpoint with that of the corporation. Werhane (1989:821) viewed that corporation by law is identified as a person that is frequently held responsible for business practises. However, Werhane continues, if firms are not moral agents, they do not become morally liable and thus the onus is passed onto the individual person. [1] This becomes complicated because how can individuals become solely...
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...Kensington College of Business BP to consider to recover from the‘‘marketing disaster’’ Managing Markets KCB ID: 12449. Course Instructor: J.Naidoo Student ID: 12449 INTRODUCTION: That assignment consists of two parts. In first part, we will discuss the macro environmental factors that will affect BP (British Petroleum), when they have to consider their future strategic decision in order to regain their market position in the USA. In second part, we will suggest a marketing plan for BP to consider to recover from this ‘‘marketing disaster’’. The disaster is the Gulf of Mexico oil platform (which is the Deepwater Horizon) explosion occurred, millions barrels of oil have been leaked in the region for a few months. That infiltration is the largest environmental disaster in U.S. history. The goal of macro environment analyse is to see that marketing opportunity and threats were given by changes and trends in macro environment. Focusing on them for marketers helps to take decision and modifies their strategies and plans. The marketers wish to know which elements of macro environment affect their planning and how they influence future strategies. We will see the strong point and factors of macro environment which are the social and cultural...
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