System-Oriented Theory Analysis with Bp Company
System-Oriented Theory Analysis with Bp CompanyIntroduction
This main purpose of this review report is going to analyses the BP corporation by go through its sustainability 2010 annual report in order to use as references for future development. Sustainability disclosure is the process for publicly disclosing an organization’s economic, financial, environmental and social performance.
An organisation's stakeholders increasingly expect more than just financial and governance information. Stakeholders also require information about company economic, environmental and social performance. Information included in a sustainability report should meet the needs of those stakeholders who include customers, employees, communities, investors, governments and others. In this report we will use the system-oriented theory to show the link with the BP’s sustainability disclosure information which is made of three component theories: stakeholder theory, legitimacy theory, institutional theory.
During the past 2010 BP has made a claim that they are continuing make the positive change since the Mexico bay oil spill accident. BP wants to rebuild their reputation and re-earning the social trust and it is also the way that they can achieve the sustainability of the shareholder value.
On the evening of 20 April 2010, a gas release and subsequent explosion occurred on the Deepwater Horizon oil rig working on the Macondo exploration well for BP in the Gulf of Mexico. After the initial explosions, the blowout preventer’s emergency functions failed to seal the well, allowing the leak to occur. During this serious accident.11 of people dead and also have some numbers injured. After this happened, over the whole year, BP has done a series of works try to fix the problem they respond swiftly to compensate people affected by the impact of the accident, and to look after the health, safety and welfare of the large number of residents and people who helped respond to the spill. “By the 31 of December,...