Business Ethics and BP

Authors Avatar by chanelsofficial (student)


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When a business operates ethically, it gets a lot of different advantages. This includes a good reputation, happier workers who are more motivated to work, and are proud to work at the company, who are also more likely to stay at the business.

BP makes sure that they work ethically, giving their employees better pay then other big name companies. This will make the employees work better, and have a larger productivity rate.  They also are more likely to stay at BP, which saves BP a lot of time and money in the long run.

Developing nations

By putting their oil rigs in developing nations, it gives the locals there a chance to develop and come out of poverty. By putting money into the local community and into building school, it gives the children there, the chance to be educated and have more of a chance to get a job. They also give jobs to the parents, which then gives them a good way of live, which everybody deserves. This will make everybody happy. Aswell as this, BP don’t do child labour like other big name businesses, which shows that they are an ethically run business.

Consumers

The customers of BP are going to be happy that the business is running ethically and will be more likely to buy their products over other competitors, and over time are more likely to be loyal to the product. Also, by having labelling about the product, it gives customers the chance to find out about the people that work for it and also by linking it to the website, it gives customers the chance to see how BP uses its profits in the local community(by building facilities to help the locals). Customers are most likely to buy the products if they can see that there is no child labour involved.

Environment 

By BP making sure that their products doesn’t leave any pollution and not leaving any waste, it is more than likely not to affect the environment. However, BP try to make the environment surrounding their rigs more sustainable by replanting trees nearby, and where they have damaged it, replenishing it with new wildlife and cleaning up the environment surrounding the rigs. By keeping the environment healthy, it doesn’t disturb the wildlife around, and it can continue to thrive.

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Who would it benefit?

By being an ethical company, it would benefit a lot of different stakeholders. These include the business, the workers, suppliers, shareholders and the competition.

  • The business- they will get a better reputation and more profit for being an ethical company. By having a better reputation, it will not only get a better rating in the newspapers, but may also get more customers and more repeat custom.

  • The workers- because they’ll be happier for having better working conditions, higher pay and a better local community. They will also have better training opportunities and if they have ...

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