Bp's Impact On The Company's Transparency

1816 WordsNov 10, 20158 Pages
BP has spent over a century building and expanding its organization. It has been successful creating a very diverse portfolio to increase revenue. Instead of just relying on the energy sector for earnings, it has other avenues such as retail stores, credit cards, and lubricants to keep the money rolling in. Just as its product offerings are diverse, so are its geographical locations. Being located in multiple countries across the world allows BP to spread its risk over a greater area, and maintain substantial profits. Even when one or more areas are taking a hit financially, businesses in other areas are able to continue generating income. The company’s transparency has been another major strength that has gotten it through some rough times. BP has had some major accidents throughout the duration of its existence, which have caused some major blows to its image. However, regardless of how bad the outcome was, the corporation has become increasingly transparent with the details of the damage sustained, the issues that caused them, and what would be done to rectify the situations. BP is currently ranked fourth among the top ten oil and gas companies based on revenue. The primary reason it is not number one is because of its last major accident, and the billions of dollars that have been spent on research and restoration due to the accident. In April of 2010, a BP oil spill cost 11 men their lives, and leaked oil into the Gulf of Mexico for 87 days. This created a
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