Introduction The Deepwater Horizon rig sank on April 22‚ 2010‚ two days after the Macondo well blowout and explosion that killed 11 workers. The Deepwater Horizon accident‚ also known as the BP Oil Spill‚ was a project failure of immense proportions. It went from an oil exploration “project” to a massive program with portfolios of projects related to dealing with the families of those killed on the oil rig‚ stopping the oil leak‚ capturing the oil (from the well and from the ocean)‚ cleaning the
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Porter’s Five Forces The Threat of New Entrants (Low) There is a great amount of economies of learning and scale in the oil industry for Example BP has been searching for oil since 1901. They invest a huge amount in up-to-date technologies making it difficult for new entrants to compete. His obviously requires huge capital investments in R&D as well as start-up cost‚ for example a truck just to carry the oil costs over $1‚000‚000. There is a lot of regulation in the industry especially with
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In “In Case of Emergency: What Not to Do”‚ Peter S. Goodman discusses major flaws of crisis management‚ utilizing the BP oil spill and Toyota’s acceleration malfunctions as examples. Both BP and Toyota suffered a loss in credibility in the eyes of the American public. While this was largely due to the poor manner in which they handled a global crisis‚ the emergence of specific cultural narratives contributed enormously. In America‚ a corporation can be regarded as credible if it is honest‚ trustworthy
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damages. A good relevant case is Ringrow Pty Ltd v BP Australia Pty Ltd (2005) 222 ALR 306. Ringeow and BP entered an agreement in 2005 to purchase a service station. The agreement required Ringrow to purchase fuel only from BP and allowed BP to buy the service station in case of reach of the agreement. After some time Ringrow decided to buy fuel from another supplier therefore‚ BP tried to use their option of the agreement. Thus‚ Ringrow claimed that BPs action was a penalty and therefore enforceable
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Title: Do the BPS ethical principles and guidelines place unreasonable constraints upon research? Ethical issues in research and particularly socially sensitive research have predominantly represented a focal paradigm within ’social sciences’; the emotive nature of psychological enquiry in both classical and contemporary investigations has moulded the retroactive response of bodies responsible for overseeing the instigation and application of principles and guidelines envisaged to safeguard
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ANNUAL REPORT: BRITISH PETROLEUM (BP) RELEVANT ACCOUNTING RATIOS * LIQUIDITY * EFFICIENCY * PROFITABILITY HORIZONTAL TECHNIQUE - (It provides one with a way to compare your numbers from one period to the next‚ using financial statements from at least two distinct periods.) LIQUIDITY RATIOS * Current Ratios: (Difference between current assets and current liabilities) * Acid – Test Ratios: (Current asset less inventories to current liabilities) CURRENT RATIO Current Ratio
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behavior‚ some of which were already known. The list also includes instances where standard well-control protocols were not followed” (Kreitner & Kinicki‚ 2013‚ p. 362). In this week’s chapter case study‚ the Deepwater Horizon Disaster was due to the BP and Transocean using the non-rational model of decision making. More specifically‚ these companies unconsciously used Simon’s Normative Model as it relates to bounded rationality which are constraints that restrict rational decision making (Kreitner
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British Parliamentary Debate-----Summary of Speakers’ Role in BP Style Opening Government OG1 (Prime Minister) 1. Define 2. Develop case/ state issue 3. Team Split/ Arguments(Usually two) 4. Ending OG2 (Deputy Prime Minister) 1. Rebuttal against OO1 2. Defend your case—if OO1 challenge your stand or definition 3. 1 or more arguments 4. Brief summary as ending for both OG1 & OG2 Opening Opposition OO1 (Leader of Opposition) 1. Accept/ Reject/ Clarify Definition 2. Rebuttals 3.
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why did BP get involved in so much questionable conduct? I think that their main problem when starting the business was money‚ money‚ and money. I’m sure that all they really cared about was making a lot of money; by having “money on the brain” they probably didn’t care about everything else. When they started having problems‚ like the explosion that killed 15 people‚ they didn’t realize that ignoring the little things that caused these problems was going to cost them big time. If BP just took
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Banco Popular Puerto Rico are located in Hato Rey‚ Puerto Rico . Banco Popular (BP) will establish the target market and segmentation in their new Cuban operation. The reforms of the financial sector in Cuba will require activities in several areas like the building of institutions‚ the development of financial instruments accessible to market participants to invest and deal‚ and the liberalization of prices. BP is committed to provide quality financial services and support the development of
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