Explain On Various Facts And Details On The Deep Water Horizon Oil Spill Case?
This report contains various facts and details on the Deep water Horizon oil Spill case. In this article, arguing position essay has been given on the BP response and its strategic activities to cover up all the losses occurred due to the oil spill. It is observed that BP recorded by all its losses in its financial statement as revenue expenses. It has resulted into high amount of losses in its business functioning. Politician in Gulf countries are more inclined towards developing safety mechanism for general public. The main argument in this Deep water Horizon oil Spill is related to BP which has been facing high amount of losses and company had not performed its promised which was to establish eco system for mitigating these kinds of problems in near future (Barnett 2007). In this report, arguments have been presented towards the BP responses for Oil spill. It is evaluated that BP instead of establishment eco system in affected area should indulge in converting its value chain mechanism eco friendly. In addition to this, BP has also not deposited its penalties and fines amount in its escrow amount which are yet to be imposed on company.
It is clear to see that company had made default in its eco friendly business functions which has resulted into Deep water Horizon oil Spill in all the areas. The losses which occurred due to this case are also not measurable. The main point which has been observed in this whole case is that company has been making all its investment in order to make good in its destructive brand image. It is evaluated that if BP wants to see growth in its business then it should establish various eco systems in the business area to encounter all the negative impact of its business functioning on the society (Redmond and Valentine, 2012). Nonetheless, Politician in gulf countries is also ready to lower down the penalties and charges which are imposed on BP if it works positively on generating eco system and using social welfare mechanism by following social welfare and public interest theories. As per the interest theory, the support which has been provided by BP to its stakeholders is not satisfactory. My responses are against the eco support system established by BP which is less than the standard criteria. In addition to this, it is not satisfactory the way company used these losses to set of profit from other units which have also reduced the overall tax burden of company as per the interest theory. Another, argument is made that BP instead of putting its amount in escrow account should pay off its all fines and penalties in order to increase the eco system in all the affected area (White, et al, 2012).
Barnett, M.L., 2007. Stakeholder influence capacity and the variability of financial returns to corporate social responsibility. Academy of management review, 32(3), pp.794-816.
Redmond, M.C. and Valentine, D.L., 2012. Natural gas and temperature structured a microbial community response to the Deepwater Horizon oil spill. Proceedings of the National Academy of Sciences, 109(50), pp.20292-20297.
White, H.K., Hsing, P.Y., Cho, W., Shank, T.M., Cordes, E.E., Quattrini, A.M., Nelson, R.K., Camilli, R., Demopoulos, A.W., German, C.R. and Brooks, J.M., 2012. Impact of the Deepwater Horizon oil spill on a deep-water coral community in the Gulf of Mexico. Proceedings of the National Academy of Sciences, 109(50), pp.20303-20308.
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