BP – Strategies for responsible business

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30 grudnia 2010

PROBLEM/SITUATION DESCRIPTION:
BP asserts that each company has to hale its principles. This is why BP created a model of approach to business.

PROGRAM DESCRIPTION:
Business Benefits and Responsible Actions
The BP principle is to run a successful company and to provide benefits for stakeholders, employees, clients, local communitiesand other entities. Responsible actions consist in running business in the way allowing achieving profits and at the same time avoidingnegative consequences. It means the necessity of using highly consistent norms in all aspects of operation. We published anew code of conduct including our fundamental rules. It also contains the guidelines for everyone in BP – the same rules for everyoneeverywhere.

Natural environment and social investments
Caring about the natural environment means maintaining various biological forms, minimizing wastes or improvement of air quality. Among all those issues, climate change is on top of the list. It poses a great challenge for the whole Word in 21st century. Until 2002, BP lowered the level of  ”greenhouse effect” gas emission of about 10% and it introduced other means improving effectiveness. The company supported the research at Princeton University. The research showed a number of solutions within stalling theincrease of the gas emission over the several next decades. Some of those solutions concern efficiency i.e. lowering the fuel use incars, minimizing waste products (created e.g. during combustion of natural gas) or using new technologies to improve the energy yield.

Those solutions are connected with new products, which demands from the company elaborating new fuels and changing the fuel structure as well as changing energy carriers so that natural gas becomes basic fuel producing energy. It could then lead to replacing coal which is responsible for twice as high greenhouse effect gas emissions. It should be done maintaining the dominant role of the oil in the transportation industry.

BP chose the priority for social investments: education – in order to help societiesand people in their development and entrepreneurship, which means work for development of local economies and companies. It promotes ethical and ecologic attitudes, co-ordinates the centre of entrepreneurialship and gives loans to small companies to began their operation.

BENEFITS:

  • Building the image of the company involved in social activity;
  • Creating corporate culture matching the highest standards;
  • Creating partners’ relationships with a broad spectrum of stakeholders;
  • Unifying the principles of conduct within various ethically dubious situations;
  • Realizing the company’s commitments towards employees in creating good working environment;
  • More effective management of the company;
  • Caring for reputation of the company and its market image;
  • Road sign for the conduct at work, especially in ethically dubious situations;

CHALLENGES:

  • Coordination of actions in BP all over the world
  • Communicating this approach as a representative of a fuel sector

WORTH REMEMBERING:

  • If companies want to grow big, theyalso have to responsible, the pursuit ofresponsible corporate culture in businessis important, therefore there is nocompromise “profits or people”, peoplehave to benefit from profits.