Question

Identify 2 alternative actions BP could take for strengthening corporate responsibility, mitigating excessive risk, and balancing the interests of multiple stakeholder groups. Recommend and defend one approach for improving the long-term strategic position of BP.

Answer 1

Identify 2 to 3 alternative actions BP could take for strengthening corporate responsibility, mitigating excessive risk, and balancing the interests of multiple stakeholder groups. Recommend and defend one approach for improving the long-term strategic position of BP

One-way BP can strengthen its corporate responsibility is by playing a more active role in the community. Not only do they need to make decisions that have a global impact, butthey also need to focus on their immediate surroundings. One way to do this is being engaged in their local community. BP should always be looking for opportunities to participate in community events,both to “do your part” and to make sure the community sees your company’s name at important local activities. This wat they can slowly try to improve their reputation.They should plan out a few days every quarter and have important members of their team attend community service events.

One way to lessen risk at BP is to have more safety events at the company. A few times a month BP should go over their safety guidelinesto make sure each employee knows how important safety is. Not only should they go over the guidelines but should encourage every employee to have a voice when it comes to safety. If the employees are allowed to speak their mind on how to act in unsafe situations and work around them, this could lead to a decrease in disastrous situations. BP really needs to start stressing the importance of safety and not taking shortcuts to make sure no oil spills ever happen again.