April 2010, the explosion on the British Petroleum (BP) DeepwaterHorizon drillin

Question

April 2010, the explosion on the British Petroleum (BP) DeepwaterHorizon drilling rig killed 11 workers and injured 17 others. The rig continuedto gush oil into the Gulf of Mexico until it was capped on July 15, 2010. Thewell was declared effectively dead by the United States federal government onSeptember 19, 2010. By this time, almost 5 million barrels of crude oil leakedinto the Gulf. Marine and wildlife habitats were damaged, and tourism andfishing industries were crippled along the Gulf Coast. Fishing grounds,national parks, wildlife sanctuaries, and beaches across Louisiana,Mississippi, Alabama, and Florida were threatened by the spill. The economy ofthis region was damaged by the spill. Many businesses were forced to close, andmany people were left unemployed. The BP oil spill is considered an example ofwhy many businesses and organizations need better corporate responsibilitystandards. Write 300-400 words on the ethical issues surrounding the BP oil spill incidentof 2010. The following questions can be used as guidelines for your essay, butit is not required that all of these questions are answered. You may use onlyyour textbook as source material for your response. All source material must bereferenced (Paraphrased and quoted material must have accompanying citations).You may use the Publication Manual of the AmericanPsychological Association (APA Style Guide) or the CSU Citation Guide for reference. · Why is the BP oil spill considered amatter of corporate social responsibility? · Discuss the BP oil spill in relation tobusiness ethics. · Which stakeholders were affected by theoil spill? How were these stakeholders affected? · The natural environment is considered astakeholder. What is BP’s responsibility to the environment? · How will this crisis affect the waybusinesses create their strategic plans?

Explanation / Answer

A business organisation is responsible for all the actions caused by it , either directly or indirectly. As a corporate citizen, the firm has fiduciary responsibility to affected parties by it is operations. The British petroleum has corporate social responsibility to its different stakeholders, including the public at large especially the people in Mississippi, Lousiyana, Alabama and Florida. Many of the firms closed their business caused by this damage. As a responsbible corporate they must have to maintain a system that so that the accident can be foreseen and be prevented through a preventive replacement programme. In addition to this, they also faied to reduce the aftermath effect of accident. No emergency rescue team was maintained or emergency disaster management was formed with immediate effect.

As a responsible corporate they must be consciuos and responsible for arranging safe (accident free) and hygiene working conditions.

As per the latest guidelines on corporate governance whoever causes for the damage of environment must pay not only for the losses of destruction of the environment but also must pay the cost of restoring the environment in its original state. This pricnciple is called Polluter Pay Principle.So they must pay for the restorage as well.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.