BP Struggles to Repair it’s tarnished reputation, business and finance homework help

Business Finance

BP Struggles to Repair it’s tarnished reputation”

  1. Evaluate BP’s efforts to improve sustainability and its reputation prior to the Deepwater Horizon disaster. Was the company on the right track? Why or why not?
  2. Because most BP products can be viewed as commodities, do you think that considers will avoid purchasing from BP because of its track record and the Deepwater Horizon disaster? Why or why not?
  3. How can BP prove to its stakeholders that it is serious about social responsibility, sustainability, and ethics?
  4. What strategic issues would you focus on in trying to repair the company’s reputation?

Here is my intro- you are welcome to use it in the paper:

BP (British Petroleum) is the third largest, publicly traded, energy company in the world. The history of BP started back in 1901 when the former monarch of Iran granted William Knox D’Arcy a concession to search for oil. The original name of the oil company was Anglo Iranian Oil Company but was renamed to BP in 2001. BP currently has around 18 billion barrels of oil in reserves and produces around 3.8 billion barrels of oil per day. BP also has BP Solar which produces saolar panels and is the founding sponsor of the University of East Anglia’s Climatic Research Unit in 1971.

On April 20, 2010 the Deepawter Horizon Macondo oil well drilling platform started the largest marine oil spill in United States history exploding millions of barrels into the Gulf of Mexico.