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Case study Essay Example

Along with these products, BP is also a major player in chemicals and solar power among others (Christiansen, 2002).In the year 2010, BO Plc faced a major accident that is “Deepwater Horizon Accident” which was caused due to a gas release and a consequent explosion happened on the Deepwater Horizon oil rig particularly in Gulf of Mexico. The fire continued to spread rapidly before the rig sank and as a result the oil leaked continuously into the Gulf of Mexico before the oil containing well was closed and sealed (BP Plc, 2012).In this connection it can be identified that the accident involved a loss of control over the pressure in the well followed by the failure of a mechanism that acts as a specialised regulator which is designed to maintain the consistent conditions. After the initial outburst, the particular mechanism failed to seal the well and ultimately allowed the leak to occur. Many people died and several were injured due to this major accident (BP Plc.As a result of this major accident, the organisation apologised for the damages that affected the environment along with the livelihoods of the people and their communities. Moreover, the organisation took several responsibilities such as cleaning up the affected area, to reimburse those people who were affected by the impact of the accident and also to look after health, safety and welfare of the affected people. In lieu of this, the organisation committed in order to understand the causes, the impacts and the implications particularly of this “Deepwater Horizon Accident” and to learn along with act on lessons learnt from it (BP Plc, 2012).In the connection of the “Deepwater Horizon Accident”, the organisation initially responded by working with the experts from different industrial organisations to develop and implement efforts to stop the leak. After the accident, a specialised team was immediately formed to stop the leak at the source and to develop certain options to stop and recover the flow of oil. The organisation engaged several procedures in order to accelerate the containment of the leak to prevent the oil flow (BP Plc.In lieu of this, the organisation responded well towards the accident by compensating the people and the communities those who were affected due to the accident. BP was determined to respond swiftly and fairly towards the claims on behalf of the individuals and the government entities among others. The organisation also sought to

References

BP Plc, 2012. Deepwater Horizon Accident. Gulf of Mexico Restoration. [Online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036575&contentId=7067541 [Accessed January 04, 2012}.

BP Plc, 2012. Containing the Leak. Gulf of Mexico Restoration. [Online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036583&contentId=7067603 [Accessed January 04, 2012].

BP Plc, 2012. Compensating the People and Communities Affected. Gulf of Mexico Restoration. [Online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036584&contentId=7067605 [Accessed January 04, 2012].

BP Plc, 2012. Offshore and Onshore Clean-Up. Gulf of Mexico Restoration. [Online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036585&contentId=7067606 [Accessed January 04, 2012].

BP Plc, 2012. Restoring the Economy. Gulf of Mexico Restoration. [Online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036578&contentId=7067597 [Accessed January 04, 2012].

BP Plc, 2012. BP Updates Gulf Restoration Activity in New TV Ad. Gulf of Mexico Restoration. [Online] Available at: http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7072749 [Accessed January 04, 2012].

BP Plc, 2012. Corporate Governance. Sustainability. [Online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036184&contentId=7066896 [Accessed January 04, 2012].

BP Plc, 2012. Group Overview. Annual Report and Form 20-F 2010. [Online] Available at: http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/downloads/pdf/BP_Annual_Report_and_Form_20F.pdf [Accessed January 05, 2012].

BP Plc, 2012. Board Performance Report. Corporate Governance. [Online] Available at: http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/downloads/pdf/IC_CG10_board_performance_report_2010.pdf [Accessed January 05, 2012].

Breitsohl, H., 2009. Introduction. Organizational Crises and Reactions from a Legitimacy Perspective- Results from Two Multiple-case Studies. [Online] Available at: http://elpub.bib.uni-wuppertal.de/servlets/DerivateServlet/Derivate-1524/sdp09007.pdf [Accessed January 04, 2012].

Christiansen, A. C., 2002. Overview of BP and Its Operations in Key Countries and Regions. Beyond Petroleum: Can BP Deliver? [Online] Available at: http://fni.no/doc&pdf/FNI-R0602.pdf [Accessed January 04, 2012].

Seeger, M. W. & et. al., 2003. Communication and Organizational Crisis. Greenwood Publishing Group.

Svedin, L. M., 2009. Organizational Cooperation in Crises. Ashgate Publishing, Ltd.

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preview essay on Case study
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Finance & Accounting
  • Level: Undergraduate
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