Ethical Practices Within Business Essay

Length: 5 pages Sources: 1 Subject: Energy Type: Essay Paper: #47205201 Related Topics: Unethical Practice, Biofuels, Petroleum, Bp Oil Spill
Excerpt from Essay :

Ethical Practices Within Business

BP Struggles to Resolve Sustainability Disaster

Over the past 20th century and in the 21st century, ethics has neither been an option nor a luxury. It has not only become a moral or legal responsibility, but has also been an organizational priority within all sets of work groups, including both public and private institutions, organizations and companies. Ethical practices have also become the only strategy to combat the growing impatience within the society, as well as their responsible competitions and/or actions. These ill and unethical acts may in the long run impoverish a section of the regional economy through various organizations while enriching the crafty economies. Organizational leaders must thereby keep abreast of the rapidly changing technological advancements together with their possible effects on globalization, competitor products and services, opportunities, and threats that their organizations may face. Over a century, BP, the formerly Anglo-Persian Oil Company and British Petroleum Company, has confronted lots of ups and downs in its operations (Carl 342). Regarding the problematic business operations, workers' hazards, emission of the greenhouse gases, and environmental damages, BP has been confronted by a number of controversial challenges, which in many cases required positive and ethical response. This paper attempts to analyze how positively and/or ethically the BP has acted in response to combat its previous and possible challenges in the future.

Regarding the subsequent challenges that faced the BP over the past years, including the hazardous explosions, oil pipeline leakages, and other forms of transportation spillages, the company has attempted to involve in various ethical practices that can help it re-structure and repair its tattered image. Over some time, BP has been striving to re-position itself and brand itself a new image of being an environmentally friendly organization via making various investments in ethical initiatives and renewable energy systems. According to Carl, BP was the first oil company to realize the existence of

...

Moreover, the company changed its name into BP and later attempted to re-brand itself as "Beyond Petroleum" from the formerly famous British Petroleum. This attempt aimed at automatically sending signals to the company's stakeholders about its new focus on environmental friendly activities, sustainability and the need for moving beyond the non-renewable sources of energy.

According to the research conclusion made by investigative teams, which were set to analyze the root cause of the horrible leakage and/or spillage, BP's cooperation with the Transocean contractor "Halliburton" could have had an upper hand in spillage disasters. The contractors could have used short procedures during which, the final steps in the pipe installations could have been compromised to cut-off some costs of construction. This act was irresponsible and could have catalyzed the explosion and spillages (Carl 345). After a few decades of repeated ethical misconducts and environmental violations by some sectors within the oil industry, the stakeholders became so weary of the oil companies during the commencement of the twenty-first century. For instance, the rising gas prices, toxic emissions, oil leaks, the dwindling petroleum supplies, and diverse forms of environmental pollutions from some oil companies, converges to create and paint a very horrible image of the entire oil industry. Subsequently, a vital topic arose within the world debates concerning the world's future energy supply, focusing on the greenhouse gas emissions and the global warming effects. BP has made various attempts towards repairing its shabby image and reforming the generalized public perception that the entire petroleum industry is irresponsible and involves unethical practices, which violates the societal and environmental rules. Partially, BP responded to these concerns by changing its identity from British Petroleum into a simple name- BP, and advanced it alternative energy offerings within its mix of products.

Upon the BP's realization of its ethical obligations in conserving the environment, the BP's leaders proclaimed ethical and environmental concern, which stated that all people are citizens of the world and that everyone has an obligation to share the responsibility of conserving the world's accessible resources by encouraging its sustainable developments. Furthermore, BP became the world's first energy firm to disclose the public recognition of the possible climatic changes (Carl, 346). As a result, even though its primary product is petroleum, BP finally accepted that global warming is a human-made phenomenon and begun to seek and exploit the alternative revenue torrents, such as establishing wind firms and other energy sources with lower emissions.…

Sources Used in Documents:

Work Cited

Carl, Safina. BP Struggles to Resolve Sustainability Disaster. Annual Report and Form- Case

4, 32:2, (2012),342-352.


Cite this Document:

"Ethical Practices Within Business" (2014, January 19) Retrieved April 11, 2021, from
https://www.paperdue.com/essay/ethical-practices-within-business-181063

"Ethical Practices Within Business" 19 January 2014. Web.11 April. 2021. <
https://www.paperdue.com/essay/ethical-practices-within-business-181063>

"Ethical Practices Within Business", 19 January 2014, Accessed.11 April. 2021,
https://www.paperdue.com/essay/ethical-practices-within-business-181063

Related Documents
Ethical Egoism in Business Is
Words: 3116 Length: 10 Pages Topic: Business - Ethics Paper #: 59677553

83). Let us go through these arguments. The first argument does not suggest that a person involved in business should disregard any ethical obligations. One can economically survive in business without violating the norms of morality. Moreover, as Beverluis argues, "we are in a real sense 'doing' business ethics. For what is a 'right'? If one puts forward the claim to have certain moral rights (as opposed to legal rights),

Ethical Issues in Business the
Words: 1748 Length: 6 Pages Topic: Business - Ethics Paper #: 12316585

However, some of the most difficult ethical issues involve speculative homebuyers who did not misrepresent their financial qualifications but who understood enough about the housing market and the direct connection between wide-scale mortgage fraud and its effect on artificial real estate appreciation but chose to profit by "flipping" homes nevertheless. The actual harm caused by any single person in that fashion is likely impossible to measure; on the other hand, such

Ethical Problems in Business Principle: Ethics May
Words: 1450 Length: 5 Pages Topic: Business - Ethics Paper #: 10747727

Ethical Problems in Business PRINCIPLE: Ethics may be termed as the inner guiding moral principles, values and beliefs people use to indicate and identify what is acceptable and appropriate behavior whilst straying away from the opposite (Jones, 2007). However each individual may perceive different behaviors as acceptable and appropriate depending on the individual's own self-interests, attitudes, beliefs and values. To dig further into the aspects of business ethics, it is primarily a notion for

Ethical Dilemma of Business Globalization
Words: 1463 Length: 5 Pages Topic: Business - Ethics Paper #: 27613822

Given a situation in which one person lies and the truth would hurt the others, the dilemma resides in whether the person should continue lying or confess Free to do otherwise - a situation in which a general solution is proposed for a wider population, but some members feel it is not right for the individually. The dilemma resides in whether the individuals will do what is best for the

Ethical Practice Involves Working Positively Diversity Difference
Words: 2498 Length: 8 Pages Topic: Psychology Paper #: 31023695

Ethical Practice Involves Working Positively Diversity Difference Counseling is a profession that involves associations based on principles and values ethically. Patients are able to benefit by understanding themselves better and through creating relationships with others. Through counseling, the clients are able to make positive alteration in life and enhance their living standards. Communities, organizations, couples and families are different groups of individuals are main sources of relationships (BACP Ethical Framework, 2013,

Ethical Issues for Business Organizations in the
Words: 3235 Length: 10 Pages Topic: Business Paper #: 54874284

ethical issues for business organizations in the twenty-first century. The forces of globalization have increased the degree to which diverse groups in society have grown dependent on one another. Hence, their expectations influence the freedoms and responsibilities of other groups. The expectations of various stakeholders have placed greater responsibilities on business organizations to be ethical in their communication with their stakeholders. Business organizations are under growing pressure to be