BP and the Gulf of Mexico oil spill (case analysis)
BP is a multinational oil and gas company. This company is headquartered in London, UK. Not so long ago, this company has faced one of the world’s worst environmental tragedies. After its explosion in April 20th, 2010, the company’s situation had kept on getting worse and worse.
The communication problem is that the crisis team that Tony Hayward (the CEO of BP) prepared to find solutions to the issue isn’t making much progress. Each month it took to resolve the problem would make the disaster worse. As this oil spill situation was heading to the wrong direction, the business was loosing billions of dollars from lawsuits and paying for damages up to an estimation of $16 billion. Also in addition to BP’s financial matters, the corporation has lost over 50 percent of its share value, and $80 billion (US) loss in its stock market. Its …show more content…
The team has wasted a big chunk of its time, which caused the situation to get worse by the minute. As mentioned in the article, as of June the oil landed in the Louisiana coast, and washed up on the Mississippi and Alabama barrier islands. Secondly, the president was not very impressed by how the safety precautions are being held. The death of the employees obviously occurred for the communication between the employees and the higher stages of managers. A better safety plan for the employees and the equipment used for drilling will be a good way to begin a second time.
The symptoms of the communication problem are the poor communication skills of the managers and CEO of the BP Company. The crisis team hasn’t had its plans operating successfully, which made their situation worse as time passed. The safety rules the managers’ set for the employees were even a failure, because of the workers having to face death and many being
BP is a multinational oil and gas company. This company is headquartered in London, UK. Not so long ago, this company has faced one of the world’s worst environmental tragedies. After its explosion in April 20th, 2010, the company’s situation had kept on getting worse and worse.
The communication problem is that the crisis team that Tony Hayward (the CEO of BP) prepared to find solutions to the issue isn’t making much progress. Each month it took to resolve the problem would make the disaster worse. As this oil spill situation was heading to the wrong direction, the business was loosing billions of dollars from lawsuits and paying for damages up to an estimation of $16 billion. Also in addition to BP’s financial matters, the corporation has lost over 50 percent of its share value, and $80 billion (US) loss in its stock market. Its …show more content…
The team has wasted a big chunk of its time, which caused the situation to get worse by the minute. As mentioned in the article, as of June the oil landed in the Louisiana coast, and washed up on the Mississippi and Alabama barrier islands. Secondly, the president was not very impressed by how the safety precautions are being held. The death of the employees obviously occurred for the communication between the employees and the higher stages of managers. A better safety plan for the employees and the equipment used for drilling will be a good way to begin a second time.
The symptoms of the communication problem are the poor communication skills of the managers and CEO of the BP Company. The crisis team hasn’t had its plans operating successfully, which made their situation worse as time passed. The safety rules the managers’ set for the employees were even a failure, because of the workers having to face death and many being