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?
Assess the ethics involved with Reliant Energy strategy and actions.
Reliant Energy has been embroiled in negative ethical practices in the past due to its strategy of attempting to gouge customers by shutting down power plants during energy crises such as the California energy crisis during 2000-2001. During this crisis, Reliant deliberately shut down many power plants to create widespread rolling blackouts ensuring that energy prices would increase, which would result in increased Reliant profits. The U.S. Department of Justice obtained an indictment of Reliant for price-gouging California consumers during the energy crisis in ...
Solution assesses the ethics of the company Reliant Energy in comparison with BP. Almost 400 words.