BP was founded in 1889 formerly known as British Petroleum, whose headquarters is in London, United Kingdom. This publicly integrated organization as of 2017 has a worldwide workforce of 69,900 employees. Globally, BP’s business last year generated $142,598.8 billion British pounds stemming from three main sectors, Upstream, Downstream and Rosneft. These three segments represent an exploration of gas and oil, refineries, manufacturing, markets, transports, supplies, crude oil, petroleum, jet fuel, and customers on the wholesale and retail levels (CFRA Equity Research, 2017). The Gulf Coast on April 20, 2010 experience the largest oil spill in United States history from a ruptured line on the Deepwater Horizon resulting in 200 million
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In the case of Exxon, the CEO Lawrence Rawl allowed six days to elapse before acknowledging that in 1989 his oil tanker ran “aground in Prince William Sound in Alaska and release 11 million gallons of oil into the sea”, ten days pass before an ad was run apologizing for the event, and three weeks went by before visiting the accident site (O'Connor, 2011, p.1980). Conversely, after the BP spill Tony Hayward, immediately apologized, flew over the affected zone, spoke with the media often stating that BP would absorb the cost of establishing a $20 billion fund for repairs, as organizational members participated in a joint press conference with President Obama to assure the American public their organization was strong and would not increase prices to cover the liabilities of such a disaster (O'Connor, 2011). These actions on BP’s behalf demonstrated how they were taking responsibility for their actions tangibly to mitigate the damages (Wickman, 2014). However, a shift in rhetoric was emerging as blame was being placed on Transocean who they lease the rig from, and Halliburton who was responsible for the cementing (O'Connor, 2011). Even with Mr. Hayward’s responsiveness to rectifying the issues caused by the spillage, the Gulf Coast residences were becoming increasingly impatient with BP’s inability to stop
In the case of Exxon, the CEO Lawrence Rawl allowed six days to elapse before acknowledging that in 1989 his oil tanker ran “aground in Prince William Sound in Alaska and release 11 million gallons of oil into the sea”, ten days pass before an ad was run apologizing for the event, and three weeks went by before visiting the accident site (O'Connor, 2011, p.1980). Conversely, after the BP spill Tony Hayward, immediately apologized, flew over the affected zone, spoke with the media often stating that BP would absorb the cost of establishing a $20 billion fund for repairs, as organizational members participated in a joint press conference with President Obama to assure the American public their organization was strong and would not increase prices to cover the liabilities of such a disaster (O'Connor, 2011). These actions on BP’s behalf demonstrated how they were taking responsibility for their actions tangibly to mitigate the damages (Wickman, 2014). However, a shift in rhetoric was emerging as blame was being placed on Transocean who they lease the rig from, and Halliburton who was responsible for the cementing (O'Connor, 2011). Even with Mr. Hayward’s responsiveness to rectifying the issues caused by the spillage, the Gulf Coast residences were becoming increasingly impatient with BP’s inability to stop