Mngt 5000 Final Paper, Bp Company

In: Business and Management

Submitted By cathym103
Words 2199
Pages 9
Final Paper
Management 5000 – OGF1 2010 Management

Statement of the Problem
From the perspective of strategic planning and leadership, how could British Petroleum Company (BP) have minimized the risk of the deepwater oil drilling incident of April 20, 2010, and done a better job of crisis management after the fact?
This environmental emergency was the result of the Deepwater Horizon drilling rig explosion which killed 11 workers, injured 17 others, and resulted in a sea-floor oil gusher leaking 185 million gallons of crude oil into the Gulf of Mexico. The media is filled with stories criticizing BP for not taking proper precautions to prevent the accident, and for their public response immediately following it. The following are representative of the headlines covering media outlets across the country and internationally: “BP touts itself as ‘green’, but faces PR disaster with BP oil spill” (Farhi, 2010), “Another Torrent BP Works to Stem: Its C.E.O.” (Krauss, 2010) “BP contingency plans for dealing with oil spill was riddled with errors” (Clark, 2010), “BP’s failures made worse by PR mistakes” (Weber, 2010), “BP oil spill: Leadership and IT failure (Krigsman, 2010).
Statement of major relevant principles to be applied
The major relevant principles to be applied to this analysis are strategic planning and leadership as they relate to crisis management.
Strategic Planning
Strategic planning is the process by which organizations define their strategy and make decisions on allocating resources to pursue that strategy. This includes decisions about the organization’s goals as they relate to long term survival, value, and growth. Strategic plans are heavily influenced by external forces, and there are numerous analytical tools available to evaluate different strategic approaches. The strategic plan an organization chooses to adopt is a strong indicator…...

Similar Documents

Final Project on Event Mngt

... it is essential to research this new environment thoroughly before defining the mission and vision of the company and its strategy. Thus, this chapter will give an overview of the external analysis and will present the information and data about the Indian events market as well as competition and trends in the events branch. 1.1 The market environment and its growth Firstly it is essential to find out if there is a demand for the service the company wants to provide to potential clients, then how it should be positioned among its competitors and finally, what the trends on the particular market are. Events organization is a very dynamic and fast growing branch on the Indian market .Only in the region targeted by Options Weddings & Events, there are about 1066 events management companies. However, there are about 70 companies visible on the market with any promotional activities, the majority of them focusing on company events with a business character. Since Options Weddings & Events base market composes of individuals there are only two serious competitors, namely Percept and Wizcraft, both organizing business and private events. In terms of demand for private events, the questionnaire findings clearly stated that 57,14 % of the surveyed target group ( male and female with an international background aged 25- 45 and above) would hire an event management company to organize any kind of private event and 42,86 % of the respondents would not, due to financial matters.......

Words: 10800 - Pages: 44

Bp Oil Spill Paper

...As we all know, the BP spill of 2010 was both catastrophic and costly. In April 2010, BP’s Transocean drilling rig Deep water Horizon sank in the Gulf of Mexico killing over 10 people and spewing more than 200 million gallons of oil into our ocean water. This historic and devastating spill is now labeled as worst in U.S. history due to its crippling economic factors throughout Texas, Louisiana, Mississippi, Alabama, and Florida. It has taken us a year to restore our relationships and our strong presence in the energy sector so we must have a plan in place to get us back on track. In the presentation I will be discussing BP’s planning function of management as it relates to the organization’s goals and strategies. I will then discuss the influence that legal issues, ethics, and corporate social responsibility have had on management planning at BP. Last, I will analyze the influence that legal issues, ethics, and corporate social responsibility have had on management planning at BP. Global demand for energy is expected to increase by 50% between now and 2030. Eighty-five percent of the energy to meet this demand is expected to come from fossil fuels (BP.com, 2012). In order for BP to recover and tap into this 50% increase, we must first plan and analyze our current situation. In this unique industry, anticipating the future has become even more important than before. We must first create a plan that will not only guide the recovery......

Words: 995 - Pages: 4

Or 5000 Research Paper

...Unit III Research Paper Columbia Southern University Professor’s name: Dr. Terry Dowdy Online Learning today has become the trend of the intellectual economy with its outstanding features. By this method, students could learn in anytime and anywhere, with flexibility and diversity documentation systems, chat or discuss with teachers and friends easily... However, Online Learning requires students need to have many essential skills for effective learning. Besides Internet using skills, reading skills, presentation skills, online-learning students should have three more important: Organizational - Time management and Effective Communication Skills. Organizational skills play an important role to the success of every people no matter who we are. We need to sort the order of priority which is the most important, who will coordinate with, or who help us to do it best. This not only gives us time, but also gives us confidence in every works. So, this is very essential for online-earning students as some have to work, some run business at home, or some are busy with housework, caring for children… To arrange right time, right people for right jobs help students more actively in learning. As a certain correlation, time management skills required online-learning students to build schedules of a day, a week or of a month in a scientific way. By that, we could prioritize emergency works, or tests imminent deadline. However, time management skills also requires us to determine......

Words: 508 - Pages: 3

Bp Company

...`BP is one of the largest vertically integrated oil and gas companies in the world.The company'soperations primarily include the exploration and production of gas and crude oil, as well as themarketing and trading of natural gas, power, and natural gas liquids. BP, with a focus to drive futureperformance, continuously invests in research and development (R&D). Strong R&D capabilitiesenable BP to attain competitive advantage over its peers, maintain technological edge over itscompetitors, and stay ahead of industry trends. However, the company is Robust research and development capabilities Vertically integrated operations Wide geographic presence Oil spill in the Gulf of Mexico Transformational partnership between BPand Reliance Industries Expansion of the biofuels business in Brazil Boosting of PTA production capacity inChina Strategic agreements and contract Risks concerning environmental Instability in some oil-producing regions Saturation of resources in the North Sea Strengths Robust research and development capabilities BP, with a focus to drive future performance continuously, invests in research and development(R&D). Investment in R&D is also a measure of the company’s commitment to the future organic growth of the business. In FY2011, BP’s expenditure on R&D was $636 million. As of FY2011, BP treated 78 wells with Bright Water technology in Alaska, Argentina, Azerbaijan,and Pakistan, which has delivered increased...

Words: 3103 - Pages: 13

Ethics Paper - Bp Oils Spill

...dilemma facing BP is how to balance profit maximization and at the same time be responsible for the environment and society. Several events have affected BP in recent years but none has challenged the balance between profit and environment responsibility like the Gulf oil spill. This event, recognized as the worst oil spill in the History of the United States, occurred on April 20th of 2010 in the Gulf of Mexico and was characterized by an explosion following an integrity failure of a well and a consequent 87 day spill of oil into the sea (BP, 2010). Eleven people were killed in the explosion and it is estimated that almost 5 million barrels of crude oil dispersed into the Gulf Sea (The Ocean Portal Team, 2010). Tony Hayward, the CEO of BP at the time of the oil spill incident, downplayed the effects of the oil leak in the environment and society, stating, “The Gulf of Mexico is a very big ocean“ (Webb, 2010). Previous events had caused concerns among authorities on the possibility of BP not doing the appropriate maintenance of its old system of wells. In fact, in 2004 the company was fined for $1.2 million by state regulators (Barringer, 2006) and in 2006 for $2.4 million by the labor department also because of unsafe practices (Pulham, Hilaire, & Fenn, 2010). In addition, reports from a longtime employee stated that the company had received repeated warnings on the possible effects of cutbacks in maintenance and inspection routines (Barringer, 2006). It seems like BP had......

Words: 572 - Pages: 3

Oil Bp Company

...alternative energy sources supply are expected to grow in the next few decades rapidly. 3. Social – The amount of environmental damages destroyed BP’s brand image. 4. Technological - BP has advanced technology in deep water exploration; the are concentrating on energy efficiency, investing in low carbon future and production of more efficient energies. Find other ways of alternative energy. Likewise Mexican oil spill – the cleanup methods have not been effective at cleaning up the mess. Invent new methods of cleaning up an oil spill. 5. Legal – There are the new legislations forced BP to be more accountable for health and safety rules and paying compensation to those who have been affected. As well another rule that has affected BP is called oil pollution act to force BP in fulfilling its legal obligations. 6. Environmental – The oil spill disaster has caused many environmental activists to oppose exploration of oil under the sea, which might seriously affect some legislation as its consequences; New laws from government; Higher EU pollution standards. International Environment Organizations; Change in consumer patterns, consumer behavior; Global demand to alternative energy and discovering new energy sources could be considered as macro environmental forces on BP market. il bp...

Words: 394 - Pages: 2

Mngt 2001 Final Report - Yeo's

...1. Introduction Yeo Hiap Seng Limited (YHS), also known as Yeo’s, is a well-established company that is renowned throughout Asia and Oceania, in the UK, USA and Canada (Yeo’s, 2015). It was established by Mr Yeo Keng Lian and his friend in Zhangzhou in the Fujian Province of China in the early 1900’s, and the small business was first known as the Hiap Seng Sauce Factory (Yeo’s, 2015), producing soy sauces as its first products. The company was renamed as Yeo Hiap Seng when Mr Yeo’s friend pulled-out of their business enterprise (Hartono, 2012). As the business grew, Mr Yeo relocated the business to Singapore in 1935 and set up a sauce factory locally. Their soy sauce business became very successful with local consumers and they ventured to offer other food and beverage items, going on to produce healthy, traditional drinks and other Asian delicacies like canned chicken curry for their consumers. In the 1955’s, it was incorporated as a private company when its sales continued to scale greater heights, and in 1969, it became a public-listed company on the Singapore Stocks Exchange. Yeo’s started its first business venture in Kuala Lumpur, Malaysia in 1975 and went on to expand to more than 10 countries over a span of 40 years (Yeo’s, 2015). In the mid-1990’s, YHS had also entered into the property business, which made up of almost 13% of the total company earnings (Hartono, 2012). 2. Strategic Analysis 1.1. External Environment Analysis ...

Words: 3411 - Pages: 14

Finc 5000 Final Exam Part B, Problems

...FINC 5000 Final Exam Part B, Problems Click Link Below To Buy: http://hwcampus.com/shop/finc-5000-final-exam-part-b-problems/ Directions: You may complete the exam in Excel or in Word. • If you choose to complete the exam in Excel, open the Excel program and create a new spreadsheet named final exam (your last name). Then answer the following questions on the spreadsheet. You may put each problem on a separate tab in the spreadsheet if you like. Save the file when you are finished, then submit the exam on the course website just as you would a normal homework assignment. • If you choose to complete the exam in Word, open the Word program and create a new document named final exam (your last name). Then answer the following questions on the document. Be sure to show your calculations. Save the file when you are finished, then submit the exam on the course website just as you would a normal homework assignment. Question 1: (Cost of Capital) 8 points Pine Tree Farms Corporation (PTFC) has a target capital structure of 20% debt, 10% preferred stock, and 70% common equity. Currently PTFC has a capital structure of 70% debt, 10% preferred stock, and 80% common stock. The after tax cost of debt is 4.5%. The preferred stock has a par value of $100 per share, a $5 per share dividend, and a market price of $70 per share. The common stock of PTFC trades at $97 per share and has a projected dividend (D1) of $2.60. The stock price and dividend......

Words: 894 - Pages: 4

Bsop 588 Final Project Papers (Two Companies)

...BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final......

Words: 756 - Pages: 4

Bsop 588 Final Project Papers (Two Companies)

...BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final......

Words: 798 - Pages: 4

Mngt 5000 Final

...tolerance in most companies for unethical behavior that threatens the mission, vision, values, strategy and goals of the company, not to mention the consumer base. 2 Describe how and why ethics can and do guide managers’ decision making process (10 Points) Individual ethics, and the organizational ethical climate, do a great deal to guide the decision making process. If a company has the climate of utilitarianism, the manager will base their decision on what will do the most people the most good. For example, if there was a choice between two options as outlined below: Option A – has defect rate of 50%, can suspend production for 1 month to fix defect costing $350,000 to reduce defects to <5% Option B – has defect rate of 50%, can release product and expect liabilities to reach $200,000 A utilitarianism company manager would pick Option A – fix the defect to keep happy consumers and take the short term hit on cost for the long-term gains. However, a manager in an egoism climate organization would pick Option B, expecting liabilities to not reach the amount to fix the problem for the short-term gain of the company. There are also compliance based ethics programs within a company that do guide a manager’s decision-making process as well. The program typically has legal standards for compliance, auditing, reporting criminal misconduct, steps to prevent offenses, and punishment for offenses. This can include termination from the company, which is a......

Words: 3677 - Pages: 15

Bsop 588 Final Project Papers (Two Companies)

...BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final Project Papers (Two Companies) Purchase here http://homeworkonestop.com/BSOP%20588/bsop-588-final-project-papers-two-companies Product Description BSOP 588 Week 7 Final Project Paper; Toyota Motor Corporation BSOP 588 Week 7 Final Project Paper; General Electric BSOP 588 Final......

Words: 504 - Pages: 3

Finc 5000 Final Exam Part B, Problems

...FINC 5000 Final Exam Part B, Problems Click Link Below To Buy: http://hwcampus.com/shop/finc-5000-final-exam-part-b-problems/ Directions: You may complete the exam in Excel or in Word. • If you choose to complete the exam in Excel, open the Excel program and create a new spreadsheet named final exam (your last name). Then answer the following questions on the spreadsheet. You may put each problem on a separate tab in the spreadsheet if you like. Save the file when you are finished, then submit the exam on the course website just as you would a normal homework assignment. • If you choose to complete the exam in Word, open the Word program and create a new document named final exam (your last name). Then answer the following questions on the document. Be sure to show your calculations. Save the file when you are finished, then submit the exam on the course website just as you would a normal homework assignment. Question 1: (Cost of Capital) 8 points Pine Tree Farms Corporation (PTFC) has a target capital structure of 20% debt, 10% preferred stock, and 70% common equity. Currently PTFC has a capital structure of 70% debt, 10% preferred stock, and 80% common stock. The after tax cost of debt is 4.5%. The preferred stock has a par value of $100 per share, a $5 per share dividend, and a market price of $70 per share. The common stock of PTFC trades at $97 per share and has a projected dividend (D1) of $2.60. The stock price and dividend......

Words: 894 - Pages: 4

System-Oriented Theory Analysis with Bp Company

...Introduction This main purpose of this review report is going to analyses the BP corporation by go through its sustainability 2010 annual report in order to use as references for future development. Sustainability disclosure is the process for publicly disclosing an organization’s economic, financial, environmental and social performance. Executive summary  An organisation's stakeholders increasingly expect more than just financial and governance information. Stakeholders also require information about company economic, environmental and social performance. Information included in a sustainability report should meet the needs of those stakeholders who include customers, employees, communities, investors, governments and others. In this report we will use the system-oriented theory to show the link with the BP’s sustainability disclosure information which is made of three component theories: stakeholder theory, legitimacy theory, institutional theory. Main body During the past 2010 BP has made a claim that they are continuing make the positive change since the Mexico bay oil spill accident. BP wants to rebuild their reputation and re-earning the social trust and it is also the way that they can achieve the sustainability of the shareholder value. On the evening of 20 April 2010, a gas release and subsequent explosion occurred on the Deepwater Horizon oil rig working on the Macondo exploration well for BP in the Gulf of Mexico. After the initial explosions, the......

Words: 977 - Pages: 4

Itm 5000 Term Paper

...The Four Categories of Computers Anthony Johnson ITM 5000 Information Technology Management Ms. Brenda K. Britt 04 October 2011 The Four Categories of Computers Today computers are divided into four categories Super computers, Mainframe computers, Mini computers and Micro-computers more commonly known as a personal computer. Personal computer categories include desktop, network, laptop, and handheld. A super computer is the fastest computer mostly used by scientist and engineers who work with huge amounts of data usually on more than one central processing unit (CPU) working simultaneously. Supercomputers have the ability to store huge amounts of data and the capability to deliver very fast input/output of information. The military branches, Universities, and science research facilities use the super computers mostly. Scientific computing is the ability of a CPU to accomplish huge mathematical computations at an extremely fast rate this created the demand for the super computer. Extremely large mathematical computations are processes most needed in fields such as physics, mechanical engineering, meteorology, and aerodynamics. A common technique is to compute an approximate numerical solution to a set of partial differential equations which mathematically describe the physical process of interest but are too complex to be solved by formal mathematical methods. (McGraw-Hill, 2005) Personal computers have a single processor. The supercomputers have thousands......

Words: 961 - Pages: 4