Friday, September 27, 2019

British petrolioum case study for corporate goverance & ethics course

British petrolioum for corporate goverance & ethics course - Case Study Example (BP) has approximately 80,000 workers and produces roughly 3.8 million barrels of natural gas as well as crude oil, with revenue of around 386 billion. This attests that indeed the BP is one of the largest multinational corporations. However, it is not a stranger to some of the environmental hazards and over the past years, it has found itself in various unethical cases and decisions that have damaged its reputation (Warren, 2012). The goal of any organisation is to maximise profits and its activities ought to be accepted by the society. However, some firms focus on making profits without caring about the interest of the society; hence, resulting to the businesses making ethical dilemmas. The British Petroleum has been involved in various scandals such as the 2005 explosion, which has had a major impact on the stakeholders and has raised important corporate social responsibility questions. The BP has various ethical obligations such as ensuring that they provide the consumers with the right products, conducting honest transactions with the suppliers, guaranteeing safety, and complying with the stipulated environmental laws among others (Mauer & Tinsley, 2010). However, following its unethical practices, it has failed to live up to its expectations. Therefore, it is imperative to deliberate on some of the scandals that it has been involved in and their impact. The BP has faced difficult decisions in the past that has damaged its reputation. The company had a social responsibility towards the society but because of its unregulated safety measures, it failed. It is obvious that it took decisions and risks that were not socially reasonable and its culture of safety was compromised and focused more on maximising profits rather than caring about the wellbeing of the people. It also came up with unreasonable measures to ensure safety such as cutting on the costs and failing to invest; hence, leading to grave safety issues (Richard Ivey School of Business, 2008). This

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