Milestone One
Shannon Bowers
September 27, 2017
SNHU
Introduction
The company I have chosen is BP (formerly British Petroleum). BP has a long history from the time is began in 1901 to the present. BP provided a lot of jobs as it continued to grow and expand around the world. As it expanded BP merged with different companies and even formed joint ventures to sell its product around the world. As the industrial age progressed and the world began to rely on cars, BP positioned itself to be a major player. As the main contributor of the war effort during WWII, BP made a ton of profit. As the demand for oil constantly grows, BP expands its operations and thus creates even more jobs for people. The downside to this is the impact on the planet. Areas previously untouched are now being drilled into, such as the English Channel. As the need for oil continues to rise the need to produce more also rises. BP continues looking for new sources of oil, for example in 1977 they begin drilling in Alaska. As BP drills faster trying to meet demands there is evitable oil spills. These have lasting impacts on the planet and make some area uninhabitable for wildlife.
BP has tried to transition with the times and move toward low carbon alternatives. They have the largest operated renewable business in the industry. BP has done a good job changing with the times and expanding how we are getting our energy. While BP has been expanding this kind of operations, they may not be moving quickly enough. As more and more people inhabit our planet there will be more strain on the resources available. BP needs to use the other methods to ensure they remain profitable.
Short-term impacts of irresponsible behavior are loss of profits, oil spills, loss of jobs. The long-term impact is of course climate change, and the lasting impact on the drill areas.
Outline
II Analysis of Issues
A. Personnel
· Barclays Global Investors
· Norges Bank Investment Management
· Kuwait Investment Authority
B. Environmental
· Low Carbon options
· Wind Energy
· Deepwater Horizon Oil Spill
· Alaska’s North Slope
· Reducing carbon emissions for both the company and its customers
· Fewer to nonexistent oil spills
C. Sound Business Practice
· The public
· Governments
· Researchers
· Donors
· Employees
· Money is put back into the products
· Money is put back into the company
Reference
About BP. (n.d.). Retrieved from https://www.bp.com/en/global/corporate/about-bp/people-and-values.html
Korosec, K. (2010, May 7). BP’s History of Oil Spills and Accidents: Same Strategy, Different Day. Retrieved from https://www.cbsnews.com/news/bps-history-of-oil-spills-and-accidents-same-strategy-different-day/
Sustainability. (n.d.). Retrieved from https://www.bp.com/en/global/corporate/sustainability/climate-change.html
