TNK-BP is a joint venture company owned by British Petroleum‚ more commonly known as BP‚ and the Alfa‚ Access/Renova group‚ more commonly known as AAR. Both BP and AAR each own 50% of TNK-BP. TNK-BP was created in 2003 after a merger between BP and TNK that settled the dispute between the two companies over Sidanco and its subsidiary Chernogorneft’s ownership that had been on- going for years. The partnership combined BP’s knowledge‚ equipment‚ and experience; and Russia’s new supply
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Fooling the company – The Corporate Jester As Driving Force For Organizational Change Abstract This applied article proposes the building up of the position of a corporate entertainer to bolster authoritative change forms. The article concentrates on the unavoidable changes organizations need to experience‚ given the expansion and pluralization of the workforce. The corporate jokester hypothetically is encircled as a feature of an authoritative "humorous antique organizing"‚ thaby using cleverness
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What is globalization‚ and is it a positive force for good in the 21st century. It is hard to define globalization and seems “easier to describe than to define” (Kiggundu‚ 2002:3). “Globalization has become‚ the most important economic‚ political‚ and cultural phenomenon of our time. Around the globe the integration of the world economy is not only reshaping business but also reordering the lives of individuals‚ creating new social classes‚ different jobs‚ unimaginable wealth‚ and‚ occasionally
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The decision making biases greatly impacted the decisions made by those involved in the oil spill. Between both organizations‚ BP and Transocean‚ and there inability to agree and make adjustments caused BP to be publicly criticized. The cognitive bias‚ overconfidence‚ is explained by the Business Insider as being “too confident” about one’s abilities. (Lee & Leibowitz‚ 2015). The worker’s on the rig presented this specific bias when making decisions. When the data examined revealed warning signs
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How BP failed at crisis communication British Petroleum (BP) suffered a large-scale public relations and crisis communication disaster‚ when an oil-drilling rig accident on 20th April 2010 incurred a spillage of several million gallons of crude oil into the Gulf of Mexico. This catastrophic spill has been regarded as one of the most severe environmental damages recorded in the U.S. history‚ causing public animosity and frustration‚ substantially because of inappropriate BP´s crisis communication
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There is continuing interest in the study of the forces that impact on an organisation‚ particularly those that can be harnessed to provide competitive advantage. The ideas and models which emerged during the period from 1979 to the mid-1980s (Porter‚ 1998) were based on the idea that competitive advantage came from the ability to earn a return on investment that was better than the average for the industry sector (Thurlby‚ 1998). As Porter’s 5 Forces analysis deals with factors outside an industry
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Even a business which is fully equipped with all types of fixed assets required is bound to collapse without (i) adequate supply of raw materials for processing; (ii) cash to pay for wages‚ power and other costs; (iii) creating a stock of finished goods to feed the market demand regularly; and‚ (iv) the ability to grant credit to its customers. All these require working capital. Working capital is thus like the lifeblood of a business. The business will not be able to carry on day-to-day activities
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Deep Horizon oil rig occurred in the Gulf of Mexico Near Louisiana. Fifteen out the of one hundred fifty men who were on board were injured. Approximately two days later‚ the rig sang and oil began spewing. The oil leaked for over one hundred days. The BP oil disaster in the gulf has posed a threat on the people and the environment that surround the oil spill. The effects of offshore drilling can be catastrophic‚ especially after seeing what has happened in the Gulf. There are many concerns that come
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Business Concepts 1 Learned Business Concepts from “In Good Company” Monica Howell LED 603 Organizational Leadership Business Concepts 2 Abstract Evaluating and developing effective leadership styles and techniques is invaluable within an organization. Many lessons and developmental principles can be learned by reviewing potential successes and failures within companies. Understanding these lessons and proper use business concepts is imperative to the overall growth and development of
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Major League Baseball teams. Rawlings Sporting Goods Company moved its baseball manufacturing operations from Haiti in 1986 when the political landscape of the country began to change. Rawlings selected the town of Turrialba due to the incentives offered to the company by the Costa Rican government. Rawlings was awarded a free-trade zone in which the company would be allowed to operate duty-free in the country. Rawlings pays no import tariffs on the goods it imports to manufacture its baseballs‚ and
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