The British Petroleum Company, Business Culture and Global Competition George Enclarde
Jones International University / BBA110
To try and understand how business is conducted form a global perspective, I used British Petroleum as a model in this paper, along with the research of other international companies and government agencies. Let’s consider the idea of small businesses around the globe competing and evolving into major players in the global economy. The U.S. and E.U. guidelines, rules and regulations that are in place, is a major source for information and legal protections. The idea of globalizations movement in the information age will have a tremendous effect on businesses socially, economically and culturally for years to come. Just over a month ago, British Petroleum was enjoying the future of its oil & gas exploration. Oh, how things have changed, after oil rig explosion and now an enormous oil spill, who knows all the world can do now is wait.
The British Petroleum Company, Business Culture and Global Competition The discovery of petroleum oil and its origin began in the 1900’s, according to several sources. It’s no secret that oil is one of the most important discoveries and resources ever found by man. We use oil to produce everything from ink to gasoline and without it production our world would be very different. I selected British Petroleum because I knew it had a long history and it would be very challenging for me to write this paper with consistency. Around May 1901, a wealthy businessman named William D’Arcy (October 11, 1849 - May 1, 1917), made a deal with the Shah of Iran (Mozaffar ad-Din Shah), who at that time ruled the country of Persia (Iran). The Shah when he took over as Prince of Persia apparently he inherited a great amount of debt left by his father Naser al-Din Shah Qajar. The people of Persia were basically under one ruler, socially, publically and economically because of this they had no means of changing the culture by which they survived The country was in debt to both England and Russia and this debt put the Prince in a position where he was forced to negotiate a deal with the wealthy businessman from England. D’Arcy paid $20,000 dollars in currency, 20,000 in shares of stock and agreed to give the Shah 16 percent of the company’s profits. In return D’Arcy was given a 60 year concession to control waters covering 480,000 square miles (Cleveland, 2004).
Societal Issues Related to the Selected Industry
Over time, (TNK) British Petroleum had to continually focus on the business of creating a strong social background. It was important they TNK-BP create a society where policies and procedures related to ethics were not only implemented, but a commitment. TNK-BP’s Social Programs covers everything from Marketing, Education, and Community to Hiring practices. TNK-BP’s belief that good ethical behavior starts with individuals/employees who are productive, responsible, participatory and justice oriented.
This Russian based operation has contributed millions of dollars to its social programs, while at the same time meeting the Russian Federation standard of regulations. TNK-BP’s intent is to have a positive impact socially during its development of projects that will avoid any risk to the environment or health of its people. TNK-BP has established relationships with local and government communities, so that a partnership for long-term social development can be regulated efficiently. This program is no doubt a success largely due to the participation of TNK-BP’s management and employee interaction and dedication (“Corporate social responsibility” 2006).
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References: (Prados, J.W., Lattuca,L.R., & Peterson, G.D. (2005). Quality Assurance of Engineering
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