Bp oil spill Essay Example | Topics and Well Written Essays - 500 words

Bp oil spill - Essay Example As a result of the explosion, an oil gusher located on the sea bed flowed relentlessly for around three months before the wellhead was finally successfully capped after a number of failed attempts (Robertson & Krauss, 2010). The oil spill had serious repercussions on Bp and its investors as well as other stakeholders in a number of related industries as the company had to claim responsibility for all the damage that was done as a result (Robertson & Krauss, 2010). The level at which the company was affected can be measured via the use of key indicators of performance related to the marketing industry. After investigations were conducted it was determined that Bp was to blame for the accident. However it was determined that Deepwater Horizon operator Transocean and Halliburton which was the contractor of the oil rig was also to blame for their various roles (Robertson & Krauss, 2010). The results of the investigation led to a number of repercussions especially for Bp in particular. Using long term Key indicators of performance one can determine that BP paid a large price for their mistake. In economic terms, BP took a large dent in their financial status as they ended up paying over 4 billion dollars in fines and other expenses in particular. Such a large financial effect can indicate the downfall of a company if not properly managed and handled in an economic manner (Parmenter, 2007). The image of BP also took a serious hit as organizations such as the EPA developed doubts over its integrity and as a result it lost its ability to vie for government contracts after the accident. This displays the fact that the company’s public image took a negative turn which can be dangerous if not overturned as soon as possible (Parmenter, 2007). The news reports also painted the company in a bad light as environmental and other organizations blamed the company for