BP's code of conduct includes this: "health, safety, security and the environment—fundamental rules and guidance to help us protect the natural environment, the safety of the communities in which we operate, and the health, safety and security of our people" (BP, 2010).
But Seidman (2010) said this: "Many of the factors thought to have led to the April 20 explosion of the Deepwater Horizon offshore drilling rig were the result of bad decisions in which a less expensive option—whether to run a test or use a particular kind casing pipe, for example—was consistently chosen over one that would have cost more money."
Organizations cut costs all the time to become more efficient, and they ultimately pass along lower costs to the consumer in the form of lower prices. Without customers, a for-profit organization cannot exist.
Analyze business ethics and sustainability at an energy company of your choice and answer the following:
Assess the ethics involved with an energy company's strategy and actions.
Debate whether or not a for-profit company competing with rivals can effectively balance ethical business practices while competing for market share in today's marketplace.
Would you have handled BP's strategy execution differently? As CEO, how would you have handled this, either ensuring this did not happen or after the fact?