In the wake of the disaster in the gulf American citizens have a plethora of questions. Why would BP engage in risky practices that could endanger the area where the company makes its profit? Who is responsible for ensuring that the citizens of the Gulf Coast region are protected when companies like BP place profit above people? As this drama plays out on American television screens one must realize that the only check to the power of private companies is the American government which is charged
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We will go through the BP business context and culture‚ safety aspect‚ organization capability‚ responsiveness and risk assessment aspects of their ethical culture‚ result from the management and caused the disaster. BP Business Context and ethical culture: From the BP management employer aspects‚ they are not follow some mechanical level‚ safety procedure over and ignored which required by Act (e.g. Clean Air Act) over 8 year for their production. At the end the huge explosion occurred in March
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Monsanto: Q1. Does Monsanto maintain an ethical culture than can effectively respond to various stakeholders? I believe Monsanto makes an effort to have an ethical culture and for the most part they succeed. The bribery issues in Indonesia‚ within their own company‚ in the late 1990’s/early 2000’s were reported to the Department of Justice by Monsanto. This level of corporate governance is something I think many large corporations would not do. The farmers‚ who are primary stakeholders because
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Company (BP) is a British multinational oil and gas company. It is the third-largest energy company and fourth-largest company in the world. It is vertically integrated and operates in all areas of the oil and gas industry‚ including exploration and production‚ refining‚ distribution and marketing‚ petrochemicals‚ power generation and trading. It also has renewable energy activities in biofuels and wind power. BP has operations in over 80 countries‚ produces around 3.4 million barrels of oil equivalent
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96.BP case study: An example of a TNC 1. Different stages in the company’s operations ● Use sophisticated technologies and triedtotrue techniques to find gas under the Earth’s surface ● use topographical maps‚ aerial photography‚ sound waves‚ 3D projections and other tools to help form an educated guess about the size‚ shape and consistency of the oil or natural gas that lies beneath the Earth. ● plan and build a production facility‚ taking environmental‚ social and logistical factors
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Tselmeg Prutha Pathak Roshni Patel Doctor Oya Culpan BA 364Y October 18th‚ 2012 McDonald’s: The Coffee spill Heard ‘Round the World* Summary The case Stella Liebeck v. McDonald is one of the most talked about consumer lawsuit‚ sparking interest in people of not only the United States‚ but across the globe. Those who have studied the case in details pity the‚ at the time‚ 79 years old Stella Leibeck and those who are have only studied the synopsis of this case‚ find her lawsuit outrageous
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Reasons for Market Failure and the Roles of Government To Improve the Market Outcomes What is market efficiency? Market efficiency is defined as all participants in a market can get the maximum benefits and used the minimum cost and effect to transact (BusinessDictionary.com‚ 2011). Besides that‚ the definition of market efficiency is covered by the market and investor group. In other words‚ efficiency refers to the productivity or the size of the economics pie. If the size of economics
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organizations like Royal Dutch Shell and BP will employ intermediaries for more than just legal or financial necessities. On this large business scale‚ intermediaries are drawn upon for many forms of negotiation. For example‚ Royal Dutch Shell intermediaries have been involved with settling the Sakhalin II project for the past four years. The Sakhalin II project is made up of four oil companies‚ Shell being one of the four‚ who are locating and producing oil and gas on the Sakhalin Island in Russia
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Market Failure Market failure can be defined as give full play to the market mechanism but still cannot achieve social welfare maximization. Market failure was caused by the free market fails to allocated resources in an optimum and efficient manner. Type of market failure can be divided into three types; there are externalities‚ public goods and non-competitive behavior. Externalities is part of the interests of people’s economic behavior cannot be classified for their own enjoyment of‚ or part
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Introduction The market forces of demand and supply lead to equilibrium price and quantity that can be used to allocate sources effectively in many of the markets. At times they fail to deliver the best level of output for society. The government intervenes using various methods to correct market failure. This report details the six different types of market failure which can occur in the UK in addition to critically detailing how the government attempts to correct market failure. 2. Externalities
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