BP Case Analysis|
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.
"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 of mutual advantage and build productive relationships with each other, our partners and our customers."
"Responsible - We are committed to the safety and development of our people and the communities and societies in which we operate. We aim for no accidents, no harm to people and no damage to the environment."
"Innovative - We push boundaries today and create tomorrow's breakthroughs through our people and technology."
"Performance Driven - We...