Unit37 D1
D1: Evaluate the impact of a selected business’s ethical behaviour on stakeholders and the business.
D1:0 Introduction
In this report I will be explain and evaluating the impact of the BP oil spill to their stakeholders.
D1:1 BP oil spill
The BP oil rig explosion was the second worst disaster in the U.S history, it resulted in the death of 11 employees and seriously injured 16 others, this resulted in one of the largest oil spills in the history of the world, this resulted in the Gulf of Mexico waters being covered in oil which killed thousands of animal life in the area and had a huge affect on the animal life and the eco system in the area. BP lost billions and the ongoing fight to repair the damage done to the environment is still going on. This is a great example of how operations ethically and unethically can affect a business and the environment around them, this disaster should be learnt from and should never be allowed to happen, BP suffered hugely due to this as their public image was destroyed and their relations with the communities living in the area where the explosion happened were extremely bad.
D1:2 Impacts on BP
BP has paid out due to this disaster up to $5billion to the people who have lost money and have been effected by the oil rig explosion this is not including the money they have lost form the tones of oil that they have lost and also the cleanup operation that they are heading. A disaster like this will have a very long and negative impact on BP as their reputation has been completely destroyed by this disaster and a large amount of the public both investors, customers and just other people in the communities have now pulled away from BP and look at them in an unethical manner due to the disaster. This will affect BP profit levels as they need to continue payouts and their customer base has decreased, BP operations are being checked to ensure nothing like this will happen again.
D1:3 Impact on Stakeholders
The Bp oil
D1:0 Introduction
In this report I will be explain and evaluating the impact of the BP oil spill to their stakeholders.
D1:1 BP oil spill
The BP oil rig explosion was the second worst disaster in the U.S history, it resulted in the death of 11 employees and seriously injured 16 others, this resulted in one of the largest oil spills in the history of the world, this resulted in the Gulf of Mexico waters being covered in oil which killed thousands of animal life in the area and had a huge affect on the animal life and the eco system in the area. BP lost billions and the ongoing fight to repair the damage done to the environment is still going on. This is a great example of how operations ethically and unethically can affect a business and the environment around them, this disaster should be learnt from and should never be allowed to happen, BP suffered hugely due to this as their public image was destroyed and their relations with the communities living in the area where the explosion happened were extremely bad.
D1:2 Impacts on BP
BP has paid out due to this disaster up to $5billion to the people who have lost money and have been effected by the oil rig explosion this is not including the money they have lost form the tones of oil that they have lost and also the cleanup operation that they are heading. A disaster like this will have a very long and negative impact on BP as their reputation has been completely destroyed by this disaster and a large amount of the public both investors, customers and just other people in the communities have now pulled away from BP and look at them in an unethical manner due to the disaster. This will affect BP profit levels as they need to continue payouts and their customer base has decreased, BP operations are being checked to ensure nothing like this will happen again.
D1:3 Impact on Stakeholders
The Bp oil