Thesis
Poor stakeholder management led to preventable mishaps such as the disasters in Alaska and Texas. Specifically, BP's defensive approach towards stakeholder management led to lavish compensation for upper level management while creating hazardous working conditions for employees and a burden on all of society in the form of rising oil prices and environmental damage.
Background
British Petroleum was founded in 1908 and since then has rapidly grown to become the eighth largest company in the world . However, as of late, BP has come under fire for several high profile disasters, including the Texas City refinery explosion and the Prudhoe Bay oil spill.
In 2005, an explosion occurred at BP's refinery at Texas City. Fifteen employees were killed and 170 were injured in a fiasco resulting in $1.6 billion in victim compensation and millions in fines . In January of 2007, former Secretary of State, James Baker, published the Baker Report, outlining BP's failing......
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Approximate Word Count: 1577
Approximate Pages: 7 (260 words per double-spaced page) |