British petroleum is one of the largest oil and natural gas companies that have operations in more than 80 countries of the world. Te Gulf of Mexico oil spill was initially thought to be an event that will not cause significant damage. O the contrary the accident did cause significant damage and it became clear in the later years the extent of damage it had caused to the environment in terms of oxygen depletion, cemical dispersants and petroleum toxicity. Te research question directly links the business laws applied by company to battle the crisis in the aftermath of the disaster.
Te research question can be framed as: Te research topic is quite significant as the Gulf of Mexico oil spill was one of the worst oil spill incidents in the American history. I is therefore important to investigate whether the corporate strategies were followed in accordance to the business laws so that any such likely event can be prevented in the future. I the wake of the disaster British petroleum had to face considerable losses both in terms legal compensation and loss of reputation.
I is therefore important to understand the factors that were responsible for the crisis in the first place and the ways in which the company has reacted to the crisis thereafter. I can act as a good learning point for other oil companies to learn from the case of British Petroleum (BP) and prevent such disaster in future. Oer the past few decades the issues of corporate governance have become extremely popular in the literature. Crporate governance has been viewed from the lens corporate social responsibility, crporate citizenship, crporate sustainability, crporate social performance management and corporate social responsiveness.
Te theories of corporate governance have been divided into four main groups by researcher’s namely ethical theories, plitical theories, itegrative theories and instrumental theories. Tis paper focuses on ethical aspect of corporate governance and highlights the responsibility that organizations have towards their broader group of stakeholders namely the society. Tis paper uses the concepts of stakeholder theory, cisis management theory and triple-bottom line theory to develop the theoretical structure. I is important to analyze Gulf of Mexico oil spill from the point of view of ethics and the ways in which BP have responded to its mistakes in the past and...
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