Market structure : there are a number of different buyers and sellers in the marketplace. This means that we have competition in the market‚ which allows price to change in response to changes in supply and demand. Furthermore‚ for almost every product there are substitutes‚ so if one product becomes too expensive‚ a buyer can choose a cheaper substitute instead. In a market with many buyers and sellers‚ both the consumer and the supplier have equal ability to influence price. In some industries
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the movement of trade‚ capital‚ technology‚ and people”. And undoubtedly the disaster has affected the relationships between countries and affected the world economies‚ be it the relationship with the board of directors of BP and the US government or the change in value of BP PLC on the stock exchange. ²As a result of the oil spill the Obama administration imposed a six month moratorium on new deep water drilling operations which ended on the 12th of October. For twenty years previous to the oil
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Understanding Is the Keystone XL Pipeline really worth the risk? There are many Americans that believe so and there are just as many that don’t think so. Each side has their reasons and they are sufficient reasons backed up by liable sources. The Keystone XL Pipeline is a pipeline system that would transport crude oil for the Tar Sands in Alberta‚ Canada‚ through the continental United States all the way down the Gulf Coast. It is a total of seventeen hundred miles of pipeline going through six states (Washington
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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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INTRODUCTION Baku-Tbilisi-Ceyhan (BTC) pipeline is an oil pipeline that transports crude oil Caspian Sea to the Turkish coast‚ over three countries. BTC Company is a joint venture company responsible for the construction and operation of the whole $4bn pipeline‚ led by BP as majority shareholder. Spread across Azerbaijan‚ Georgia and Turkey largest cross-border infrastructure construction project in the world dubbed the “contract of the century”. Financing was agreed after over two years
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individuals but also help to ensure consistent survival and growth of an organization. Leadership Development and the Leadership Pipeline are not just meant for the C-Suite employees of a company‚ but is infact for
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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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brown and black oil. Jonathan Waldman‚ an environmental journalist at the University of Colorado‚ published an article that argued that the Keystone XL pipeline should be built because it is the safest way to move tar sands oil‚ does not affect the environment and climate‚ and creates effective jobs. However‚ that is not the case. The Keystone XL Pipeline is actually a dangerous way to move oil from Point A to Point B‚ affects the environment negatively‚ and does not create effective jobs. In the article
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PLANT SAFETY Industrial accidents present a serious problem like production losses and property damage that can possibly have a crippling effect on the operations of the organization. However‚ it is possible to and practicable to control industrial accidents Objectives of The Indian Factories Act 1948 • To protect human beings from being subjected to unduly long hours of bodily strains of manual labor‚ and • Employees should work in health and sanitary conditions so far as the manufacturing
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structure and align the activities of the organization. Managers should also hire for the staff and line positions separately and check for staff should have no authority on line positions unless the authority is granted. They should also check the safety matters of the organizations and organize the steps to maintain the safe environment in the organization Controlling Managers must control that company activities are in line with general company policies and objectives. It also involves monitoring
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