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. The incident effected the brands image which meant consumers started favouring other gas and oil brands as BP no longer had the long lasting reliability that the public chose them for. The company was foundedRead MoreA Report On The Bp Oil Spill Essay751 Words   |  4 PagesBritish Petroleum also known as Anglo Persian Oil Company, and now known as BP. The company has experienced many ups and downs in its past history, but BP became one of the largest energy companies. Over BP history has experienced issues such as environmental damage, hazards that affected its works and issue due to business practices (Thome, Ferrell, Ferrell, 2011). On April 20, 2010 the BP oil spill was the worst in U.S. history. There was a terrible explosion and the sinking to the DeepwaterRead MoreThe Critical Success Factor Of British Petroleum1562 Words   |  7 Pageswell as the operational business reputation of a corporation is critical to the survivability of the corporation in today’s business world. Today we will put our focus on one of UK’s largest multinational oils company’s. In the case with British Petroleum (BP) as it actively explores oil in 26 countries around the world, due to BP’s lack of focus on the safety issues presented in the 2004 Telos Group report coupled with the oversight and control to correct safety hazards, the Texas plant experiencedRead MoreAn Audit Of Beyond Petroleum s Ethical Practices1500 Words   |  6 Pagesaudit of Beyond Petroleum’s ethical practices. This report will identify three main breaches of ethics, explain why they are unethical and make recommendations of what could be done to rectify the issues identified. Introduction Beyond Petroleum (BP) is one of the world’s largest energy industries, ‘operating in all activities which are connected with the oil and gas industry’. This includes ‘exploring, producing, refining, distributing and marketing of these products to a global market’. BP operatesRead MoreEthics Report And Recommendations For Bp1497 Words   |  6 PagesEthics Report and Recommendations for BP Executive Summary The focus of this report will be to perform an audit of Beyond Petroleum’s ethical practices. This report will identify three main breaches of ethics, explain why they are unethical and make recommendations of what could be done to rectify the issues identified. Introduction Beyond Petroleum (BP) is one of the world’s largest energy industries, involved in all activities which are associated with the oil and gas industry. This includesRead MoreBp Oil Spill822 Words   |  4 PagesBP OIL SPILL Under the Deepwater Horizon, an offshore drilling ring of British Petroleum (BP) caused an oil spill in the Gulf of Mexico. The incident occurred on April 20th 2010, where equipment failed and caused the explosion sinking the ring, and causing the death of 11 workers and more than 17 workers injured. 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. If you think about that, you’ll do things differently.† BP could have used Buffet’s quote as a recipe for success. British Petroleum best known as BP, a leading billion-dollar oil corporation is just one of the organizations who participates in corporate social responsibility (CSR). According to their code of conduct â€Å"we are committed to avoiding damage to the environment and related impacts on communities.† BP has put themselves on the line when the oil spill of 2010 occurred in theRead MoreThe Ethical Philosophy Of The United States1432 Words   |  6 Pagescosts, then the behavior is ethical, if not, then the behavior is considered unethical. This philosophy underlies the economic tenets of capitalism and is embraced by many business executive s† (Kerin, Hartley, Rudelius, 2015, p. 100). British Petroleum validated utilitarianism values for the Deepwater Horizon rig at the Macondo oil prospect in the Mississippi Canyon in the continental shelf (â€Å" ¬Deepwater†, 2015). Demonstrating moral idealism, â€Å"Toyota Motor Corporation’s core principle is to contributeRead MoreOil And Gas Companies : Bp1266 Words   |  6 PagesBP, originally known as British Petroleum, which was founded in 1889, is part of the world’s seven largest publicly traded oil and gas companies. According to BP’s recent annual report BP states that they provide their customers with â€Å"fuel for transportation, energy for heat and light, lubricants for engines, and petrochemical items used to make items for everyday use such as paints, clothes, and packaging.† The current CEO of BP, Bob Dudley, has a focus on turning the company around into a safer