Bp Oil Spill

Topics: Business ethics, Ethics, Social responsibility Pages: 2 (401 words) Published: March 5, 2013
The British Petroleum (BP) oil spill of 2010 was a controversial incident that is surrounded by several ethical issues to include corporate social responsibility, stakeholder’s loss and responsibility to the environment. Corporate social responsibility is defined as “the obligation companies have to develop and implement courses of action that aid in social issues that impact society” (Stanwick, & Stanwick, 2009, p. 51). While BP was fulfilling its economic responsibility to use the resources available to provide goods for the nation, it could have taken better precautionary measures. Operating equipment like a drilling rig, they should have everything possible, from tools to emergency shut off valves, to assist in emergency situations. As soon as the leak was noticed, it should have been capped or somehow shut off. Waiting three months, while oil is seeping into the ocean harming wildlife and the Gulf operations, was not the right thing to do. Additionally, the explosion killed 11 and injured 17 members of their staff. It is BP corporate responsibility to have the highest safety standards for their employees.

Many stakeholders were affected by this massive oil spill to include the employees, BP shareholders, the government and the community. Everyone was hit hard by the disaster. Employees lost life, were injured and many lost their jobs. The shareholders suffered losses as well because they lost a big operation and producer of oil, so their profits fell. The government also suffered because they had to fund initial emergency aid, lost taxes on the oil revenue and had to fund the unemployed. But most importantly the community and wildlife suffered. Tourism was down and the fishing industry was destroyed. The coast from Florida to Louisiana was severely affected. Many businesses were forced to close and many people were left without employment.

Another ethical issue is the consideration for the natural environment. The actions of allowing the leak to...
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