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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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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Creative Hero: Steve Jobs In reinventing Apple‚ a struggling computer company‚ Steve Jobs encouraged and abetted the reinvention of several industries that had also fallen on hard times. Apple not only invented cool new gadgets such as the iPod‚ iPad and iPhone but new ecosystems iTunes‚ Apps that offered a lifeline to struggling established industries‚ as well as immense opportunities for upstart entrepreneurs. Itunes created a venue and method for music and entertainment companies‚ who saw their
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EMBA Theme IIICorporate IT Management Assignment 3: None of Our Business‚ Roberta A. Fusaro‚ a 2004 HBR Case Study I. RFID Definition Radio Frequency Identification RFID is an established data-carrying technology used throughout industry. Data relating to an item is stored on a tag‚ which is attached to the item. The tag is activated by radio waves emitted from a reader. Once activated‚ the tag sends data stored in its memory relating to the item back to the reader. This data can then
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IBM Sales and Distribution Thought Leadership White Paper Retail 2020: Reinventing retailing— once again A joint project between IBM and New York University Stern School of Business Retail 2 Retail 2020: Reinventing retailing—once again Contents 2 Introduction 3 Déjà vu all over again 3 Retailing transformations of the past 6 Lessons learned with “20/20 hindsight” 7 Retail 2020 9 Implications for retailers today 11 Concluding thoughts 11 For more information 11 Acknowledgements
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Case 3: The Insider I. Brief Summary In 2011‚ a stock trader of a well-known investment firm along with two alleged accomplices was convicted of insider trading. The lawyers allegedly browsed around their law firm picking up information regarding corporate deals and would provide it to a person who would then pass the inside information to the trader. This information was then used by the trader for him to earn millions of dollars. Since the information came from the lawyers‚ the trader would thank
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Jim Delaney‚ president of Apex Door‚ has a problem. No matter how often he tells his employees how to do their jobs‚ they invariably “decide to do it their way” as he puts it‚ and arguments ensue between Jim‚ the employee‚ and the employee’s supervisor. One example is the door-design department‚ where the designers are expected to work with architects to design doors that meet the specifications. While it’s not “rocket science “as Jim puts it‚ the designers invariably make mistakes-such as designing
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The Harmonized Savings Plan at BP Amoco Brief description of case background On August 11‚ 1998‚ United States Amoco Corporation (Amoco) and The British Petroleum Company p.l.c. (BPC) announced the BPC merger with Amoco. With a combined number of participants of 40‚000 and $7 billion investment assets under management‚ the merged pension and savings plan of the new company is viewed by both management and employees as a bellwether of the success of the merger. Therefore‚ the new investment team
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In 2010‚ BP encountered two predicaments. The first was stopping a major oil spill in the Gulf of Mexico after an oilrig exploded. The second was persuading people that they were doing just so. The company damaged its environmentally friendly image when the Deepwater Horizon oilrig exploded in the Gulf of Mexico on April 20‚ 2010‚ eventually creating the largest marine oil spill in history. Eleven workers were killed‚ an estimated 6‚000 barrels of oil leaked per day‚ and years of irreversible damage
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| | BP p.l.c. (BP) is one of the largest vertically integrated oil and gas companies in the world. Its operations include the exploration and production of natural gas and crude oil; refining of crude oil; manufacturing of petroleum products; marketing of refined products; construction and mining; and transportation of crude oil. It is also involved in the marketing and trading of gas and power‚ marketing of liquefied natural gas (LNG)‚ natural gas liquids (NGLs) and low-carbon power generation
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