Responsible Management Challenges for the BP Company: Problems and Solutions

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Introduction

Fulfilling organizational goals within any enterprise requires a thorough examination of suitable management strategies. As the corporation faces multiple issues and crises related to company activities and environmental factors, it is necessary to uncover solutions that can effectively handle such problems, allowing the business to grow further. In the current age, several theoretical and practical resolutions have been suggested as a potential answer for company management complications, creating a pool of executive approaches available for managers. An emerging method is the theory of responsible management, which is based on the search for the ultimate balance between the interests of numerous individuals. Adopting the principles of responsible leadership for the development of large companies can be highly beneficial for their future advances, as this technique considers the intentions of all the parties connected to the corporation’s endeavors. As such, the BP plc organization can significantly strengthen its policies by implementing the strategy discussed, allowing for the resolution of social, environmental, and ethical challenges.

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Defining the Core of Responsible Management

Large-scale corporations confront numerous challenges when undertaking specific actions and developing their business agendas. In order to sustain a profitable venture, it is necessary to ascertain the impact of the company’s intentions on various spheres, including the positive and negative consequences of such activities. Scholarly studies contributed to the construction of the responsible management approach, which addresses the issues of people, companies, and environmental influence, proposing a tactic for upholding the essential commitments. Responsible managers overlook three imperative domains: sustainability, responsibility, and ethics. Defined as a technique aimed at establishing a balance between the interests of the whole world, responsible management considers the current state of the planet and attempts to produce a better environment for future generations. Altogether, this novel procedure is focused on the profits of the entire world’s population, covering several dimensions of human life at once.

Responsible Management Challenges in the BP Organization

As a large multinational company directed at ensuring the availability of energy resources for its customers, BP plc could tremendously benefit from adopting the elements of responsible management. This organization is presented with several responsible management challenges, for example, stakeholder responsibility and environmental ethics. In the sphere of natural sustainability, the BP corporation is expected to provide efficient care for the natural resources, maintaining the health of the planet, and decreasing the harmful output produced by demand for energy. Even though renewable approaches to energy consumption are already being constructed, adverse effects of carbon electricity are still to be managed. Such subjects as global warming and ecosystem degradation are largely dependent on the business’s use of carbon-emitting materials, which could be resolved by implementing responsible management strategies. In order to uphold the environmental responsibility and achieve net zero, the BP company has to encounter the complications of reducing damaging emissions throughout the globe.

Another dimension within the responsible management framework that requires particular attention is the social challenge. The stakeholders invested in the company can pose an additional difficulty for the business to consider, as the customers’ satisfaction with the policies employed is an essential factor of responsible administration. In contemporary society, more and more stakeholders are particularly interested in the transparency of the enterprise’s activities, as well as in the accountability for the endeavors undertaken. Supplying the concerned parties with sufficient knowledge regarding company policies might be a strenuous venture given the numbers of the BP organization’s customers and investors, which possess distinct values and interests regarding the published agendas. Protecting consumer rights and offering them public access to the company’s goals and ventures requires establishing a perfect balance between securing corporate information and attending to society’s demands. Addressing the needs and desires of numerous stakeholders is a difficult task to be resolved.

The field of ethical responsibility is essential to be considered in this discussion. The moral complications linked with an international enterprise’s actions may bear detrimental consequences if not addressed in a proper manner. Considering the BP organization, it faces a difficulty within the ethics performance, namely the adherence to moral values in the process of decision-making. When implementing certain policies or even managing employee relationships, the company is required to follow the code of ethics, avoiding failures and confrontations. Given the internationality of the BP enterprise, its influence on multiple societies and their inherent attitudes must be evaluated in detail, for example, when constructing marketing and corporate strategies. Handling the conflicts within various spheres of the company’s involvement and sustaining an excellent moral attitude is a complex endeavor, necessitating careful and strategic choices.

Approaching the Difficulty of Natural Materials’ Management

In the current condition of the world’s nature, the greatest challenge encountered by the BP corporation appears to be the environmental issue. The need to employ consumable materials to power multiple endeavors is a demanding task for a large-scale company, which must provide numerous departments and buildings with sufficient energy while sustaining the creation of renewable solutions. Furthermore, the state of the planet is a responsibility for multiple energy-based businesses, and it cannot be handled by one company alone. The environmental predicament requires the input of other conglomerations involved in producing harmful emissions. In addition to controlling their individual impact on nature, the company should corroborate with extra partners and attempt to persuade other parties to reduce their destructive activities. As a company primarily focused on energy-based developments, BP bears an additional obligation to provide its stakeholders with clean and renewable sources of power while supervising the amounts of resources left on our planet.

Meeting the environmental challenge is a crucial assignment for the BP corporation. The division of strategic management would be most suitable for seeking a resolution for this issue, as it primarily executes the planning strategies which affect the company as a whole. This influence is especially evident in the processes of managing equipment and materials for future endeavors. Apart from controlling the environmental impact of the activities to be undertaken, this department can ensure that the resources used are nature-friendly, safe for the environment, and can be re-processed after use. Scheduling the work plans and gradually altering the utilization of harmful materials is a perfect task for the strategic management branch, allowing the company to optimize its budget according to the necessary changes.

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Conclusion

To conclude, the notion of responsible management and its implication to various challenges encountered by the BP enterprise were thoroughly discussed in this paper. The principles of responsible management are focused on balancing the demands of multiple individuals, sustaining the interests of people, companies, and the environment, originating common difficulties for the businesses addressing these issues. Environmental responsibility and protection of natural materials have been shown to encompass multiple predicaments connected to the use of consumable resources, necessitating the development of renewable energy sources. The social obligation of the BP company appears to be intimately linked with the desires of numerous stakeholders and the distinctions between different groups of customers and investors. Finally, maintaining a credible and ethical standard is another crucial task for this international corporation demanding the implementation of moral and strategic decision-making. Among the aforementioned challenges, the environmental issue is in need of urgent attention, specifically from the department of strategic management, which can tremendously contribute to the creation of a suitable resolution.

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BusinessEssay. (2022, June 11). Responsible Management Challenges for the BP Company: Problems and Solutions. Retrieved from https://business-essay.com/responsible-management-challenges-for-the-bp-company-problems-and-solutions/

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BusinessEssay. (2022, June 11). Responsible Management Challenges for the BP Company: Problems and Solutions. https://business-essay.com/responsible-management-challenges-for-the-bp-company-problems-and-solutions/

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"Responsible Management Challenges for the BP Company: Problems and Solutions." BusinessEssay, 11 June 2022, business-essay.com/responsible-management-challenges-for-the-bp-company-problems-and-solutions/.

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BusinessEssay. (2022) 'Responsible Management Challenges for the BP Company: Problems and Solutions'. 11 June.

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BusinessEssay. 2022. "Responsible Management Challenges for the BP Company: Problems and Solutions." June 11, 2022. https://business-essay.com/responsible-management-challenges-for-the-bp-company-problems-and-solutions/.

1. BusinessEssay. "Responsible Management Challenges for the BP Company: Problems and Solutions." June 11, 2022. https://business-essay.com/responsible-management-challenges-for-the-bp-company-problems-and-solutions/.


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BusinessEssay. "Responsible Management Challenges for the BP Company: Problems and Solutions." June 11, 2022. https://business-essay.com/responsible-management-challenges-for-the-bp-company-problems-and-solutions/.