Case summary:
British Petroleum's Deepwater Horizon offshore rig in the Gulf of Mexico exploded in a ball of flames on April 20, 2010, killing 11 employees. This initial tragedy set in motion frantic efforts to stop the flow of oil, followed by a long and arduous cleanup process.
Thunder Horse oil platform "listing precariously to one side, looking for all world as if it were about to sink." Thunder Horse was meant to be the company's crowning glory, the embodiment of its bold gamble to outpace its competitors in finding and exploiting the vast reserves of oil beneath the waters of the gulf.
The problem with the rig soon became evident. A valve installed backwards caused it to flood during the hurricane even before any oil had been pumped. Other problems included a welding job so shoddy that it left underwater pipelines brittle and full of cracks. There were warning signs that something was terribly wrong with the oil well. Among the red flags were several equipment readings suggesting that gas was bubbling into the well, a potential sign of an impending blowout. Those red flags were ignored.
Characters in the case:
No prominent characters in the case.
Adequate information:
Federal panel charged with investigating the spill examined 20 "anomalies in the well's behavior and the crew's response." The panel's final report blamed both BP and its contractors for the failures that led to the explosion on the Deepwater Horizon. Many of those failings stemmed from shortcuts to save time and money. However, the report also faulted the government for lax oversight of the companies.
To explain:
The things other organizations can learn from BP's mistake.
Want to see the full answer?
Check out a sample textbook solutionChapter 14 Solutions
Fundamentals of Management: Essential Concepts and Applications (9th Edition)
- Better Battery Co. is a manufacturer of batteries. Nickel is an essential component of a battery. In recent years, price of nickel has escalated, causing nickel cathodes prices to rise. To mitigate ever-rising nickel (and cathode) costs, the Cross-Functional Team (CFT) at Better Battery has developed a new battery type which requires a lower nickel content in the cathode. The development and investment costs needed to produce this new battery is estimated at $3,500,000. Total costs of each battery is calculated at $50 based on current nickel prices. The CFT expects each battery to sell for $120 per piece, based on available market research. You have been tasked to show the commercial feasibility of this new battery to the management. What is the breakeven point of this new battery, before it can be a profitable venture? The senior management has reviewed the presentation of this new battery proposal. Since it is a multi-year project, you are tasked to analyse the underlying costing and…arrow_forwardThere are four stages in procurement evolution: basic beginning, moderate development, limited integration and fully integrated supply chain. Second stage one profesion is elieve are en roemsin is etrate for thy management' is a strategy for the third stage. Provide a description of 'category management' in your words. In your opinion, appraise which stage in the procurement evolution that 'category management' should belong to. Give reasons to support it.arrow_forward1. Give one new distribution channels for Virtual Assistance (freelance business) that is not yet proposed. - show a visual aid (chart/diagram) to illustrate the flow of the distribution channels. - explain the rationale behind it. (e.g., increased market reach, improved customer experience, cost-efficiency). - connect the given distribution channel to the marketing mix: (How does it align with the overall marketing strategy? Consider product, price, promotion, and place.). - define the target audience: (Age, gender, location, interests, etc.). - lastly, identify potential participants: (Wholesalers, retailers, online platforms, etc.)arrow_forward
- 1. Give one new distribution channels for Virtual Assistance (freelance business) - show a visual aid (chart/diagram) to illustrate the flow. - explain the rationale behind the recommendation. (e.g., increased market reach, improved customer experience, cost-efficiency). - connect the channel to the marketing mix: (How does it align with the overall marketing strategy? Consider product, price, promotion, and place.). - define the target audience: (Age, gender, location, interests, etc.). - lastly, identify the potential participants: (Wholesalers, retailers, online platforms, etc.)arrow_forwardwhat article is related to what is your mission?arrow_forwardwhat article is about " what is your Mission"?arrow_forward
- Do fast answer of this general accounting questionarrow_forwardInvestigate how AI technologies, such as generative adversarial networks (GANs), are used to create deep fakes. Discuss the technical processes involved and provide examples of notable deep fakes. Identify and analyze at least two case studies where deep fakes have had a significant impact. These could be in areas such as politics, entertainment, or social media. Discuss the potential social impacts of deep fakes, including their influence on public trust and the spread of fake news.arrow_forwardMostlarge businesses rely on many complex processes to keep them running smoothly. Two large areas that impact large areas of business and IT are ERP and CRM. Respond to the following questions: • How do ERP and CRM help a company? What are the drawbacks to setting up those different types of systems in a business? What direct effects do these systems have on customers?arrow_forward
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON