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Business Studies - Case Study: British Petroleum (BP) - Shareholder v Stakeholder Views - Assignment Example

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The refinery of British Petroleum located in Texas countered a huge holocaust owing to an explosion which happened during 23rd March 2005. The explosion led to the loss of around 15 people while around 180 people succumbed to large amount of injuries…
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Business Studies - Case Study: British Petroleum (BP) - Shareholder v Stakeholder Views
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Business Studies - Case Study: British Petroleum (BP) - Shareholder v Stakeholder Views

Download file to see previous pages... Most of these people were staffs of the company. This type of accident had occurred also previously which led to the death of the corporation’s staffs. The management body of British Petroleum was operating in a recalcitrant manner in dealing of problems of the above kind. Further the management body of British Petroleum operated to take special care of the shareholders at the cost of the employees. The upper management body of the concern despite being aware of the potential problems gaining ground in the inner sphere of the company went on reducing the cost of maintenance of the infrastructural elements. This lack of focus in the above sector is taken to be the potential reason for letting events like the above mentioned accident happens in such great tenacity. The happening of the accident challenged the business philosophy of British Petroleum. It is because the firm which mainly operates to take care of the investing community by draining and weakening the infrastructural base happened to become mainly responsible for the loss of many lives. British Petroleum like any other business organization is found to operate fully on a profit motive and with an outlook to take care of the investor’s or shareholder’s rights. The firm in no case works to achieve the social goal of rendering potential support for protecting the lives of the workers involved. ...Download file to see next pagesRead More
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