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Bp and the Oil Spill in the Gulf of Mexico Essay

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Below is an essay on "Bp and the Oil Spill in the Gulf of Mexico" from Anti Essays, your source for research papers, essays, and term paper examples.

BP otherwise known as British Petroleum started out in 1909 as the Anglo-Persian Oil Company, by 1914 the oil company was struggling and facing bankruptcy until Winston Churchill persuaded the British government to purchase 51 percent of the oil company to have a dedicated oil supply for its country as a whole. Once again after Great Britain sold its part of the company in the late 1970’s leaving BP close to bankruptcy. By 1992 BP lost about 811 million dollars causing them to take cost cutting measures. British Petroleum faced issues when it came to its organization structure, strategy, decision making with closing the Macondo Well, safety among the BP refineries within the United States, and how BP handled the Deepwater Horizon disaster.
As things seemed as an all time low for BP in 1992 by the mid 1990’s BP got a new CEO who started to make changes starting with a new aggressive growth strategy. BP merged with its two biggest competitors in the oil company industry as well as repositioning itself. As BP’s revenue was going up and up from their growth and going into alternative energy, by 2007 BP had a new CEO Tony Hayward who made the decision to put a halt on growth and said he was going to “focus like a laser on safety issues, put the brakes on growth.” In doing so Hayward shrunk the alternative energy division by cutting down on the staff and four levels of management. With this BP revenues increased making the company one of the six largest non-state owned oil companies in the world. But with the decision Hayward has made with cutting down on growth, problems involving the organizational structure came into play.
In the late 1980’s BP’s organizational structure was known as a matrix structure. With a matrix structure the company had a hard time with making decisions quickly leading to its performance to be very poor. In 1989 the new CEO Robert Horton made changes cutting $750 million dollars from BP’s annual expense. Horton removed several layers of...

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"Bp and the Oil Spill in the Gulf of Mexico". Anti Essays. 12 Dec. 2018

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Bp and the Oil Spill in the Gulf of Mexico. Anti Essays. Retrieved December 12, 2018, from the World Wide Web: http://trenmayamx.com/free-essays/Bp-And-The-Oil-Spill-In-728607.html