British Petroleum (Plc) and John Browne: a Culture of Risk Beyond Petroleum

2146 words 9 pages
British Petroleum (PLC) and John Browne: A Culture of Risk Beyond Petroleum
Strayer BUS 519
October 30, 2011

Abstract The image as well as the operational business reputation of a corporation is critical to the survivability of the corporation in today’s business world. This reputation is even more critical when a business has is known globally with holdings and operations around the world. Such is the case with British Petroleum (BP) as it actively explores for oil in 26 countries around the world. BP is renowned as an industry leader in oil production and the refinement of oil related products such as gasoline, kerosene and motor oil products. In 1999, BP acquired American
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This will help to mitigate any grand standing by any members. At this point the floor is open to the membership for questions and answers. This will ensure all members are on the same page. Finally the risks identification or assessment will begin. Participation will be encouraged from all members in the form of a brainstorming technique. As members are encouraged in the brainstorming process, they are encouraged to keep an open mind and generate as many probable risks associated with the issue as possible (Gray &Larson 2009). We will incorporate the Risk Breakdown Structure as part of this process so we can identify where the risk will originate to for appropriate ownership and resolution. Day one lunch will be provided in a common area to enhance members getting to know each other and continue discussion as necessary. The afternoon session will include the rationalization of the risks with an analysis of the assumptions and constraints. Assumptions are items we take for granted and constraints are those which appear fixed as either a must occur or must not as described by Hillson and Simon (2007) (p. 62). We will discuss each assumption and constraint in identifying potential risks. As we attempt to finalize the identified risks, we will use risk metalanguage in their description. This will be a three part description of the risk that separates cause, risk and effect in statement form. The recording of all findings will occur during the