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Bp Ethics

In: Business and Management

Submitted By asather173
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The competitive nature of the world market has pushed some firms to engage in business malpractices that call for the intervention of various stakeholders in the society. Such entrepreneurial problems takes the form of irresponsibility and lack of accountability of the firms in regard to the negative externalities they create to the society, deteriorating integrity and manipulation of ethical codes of conduct. In the recent past the oil firms have been in the international focus for their major role in the pollution of the environment as they produce and distribute their product and even as the products are consume. One of the major casualties for this problem is BP Oil Company that has been in wrong books with the international community for its growing unethical standards that emerged in the twenty-first century. To save its tainted reputation and restore its public image, BP management has been working on various strategic plans to improve the firm’s code of conduct. This came into light with the 2005 publication on code of conduct that was entitled “our commitment to integrity.” Due to the multinational status of the BP Company it has geographically dispersed operational regions across the world and this meant that they were to circulate this message to all its employees across the globe.
The debate over the position of BP on the issue of risks stands out as a much asked question by many people. It is understood that the oil production from the sea is a contractual co-operation between BP and Transocean as the driller. However, the risk need to be absorbed by both of the as the primary stakeholders. BP is the major shareholder in the risk management and safety regulations target in its business goals. It was evident from the vast oil spill tragedy that swept the larger part of the shore with insignificant efforts from the firms to reduce this environmental…...

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