Topic > BP Plc: A Troubled Company from 1909 to 6…

On April 20, 2011, an oil rig in the Gulf of Mexico exploded on British Petroleum's (BP) Deepwater Horizon. As a result, of the 126 BP crew members on board, 11-15 are missing. Six days later, underwater robots reveal at least two leaks dumping 1,000 barrels of oil per day into the Gulf. As a result, this would become one of the worst oil spills in the history of the United States and perhaps the oil industry. This recent oil spill represents one of many dilemmas that BP has faced as it seeks to expand and globalize as a transnational corporation in the world economy against other oil and gas companies. Although this disastrous event negatively affected BP, the company found a way to overcome it, while still becoming the sixth largest in the world; continues to do so by offshoring, outsourcing, and merging with other oil and gas companies, three key strategies that BP has used since its founding in 1909. Globalization, as Matthew Sparke defines, "is the extension, acceleration, and intensification of consequential consequences globally interconnections” (2013, p. 3). In other words, globalization integrates social, economic and political factors that shape the world. Globalization can be considered a large phenomenon, but it can be considered exactly the opposite This paper will explain when, where, how and why BP Plc became a transnational corporation through globalization through offshoring, outsourcing and merging with other companies. Furthermore, this paper will discuss the successes and consequences caused by globalization through the three key strategies of BP. Like many others who started, BP Plc was a small company struggling to succeed after experiencing almost two failures B...... middle of paper ......exico, resulting in the death of human beings. wild and marine life, as well as contaminated water. Of course, I have two opinions when it comes to globalization. On the one hand, if a company or enterprise expands which will in turn provide jobs to people and improve their standard of living, it should be encouraged. On the other hand, if it exploits workers and puts the environment at risk, we should approach it from a different perspective. We currently live in a world where globalization has actually increased interactions between people, but not in a good way; globalization, considered by neoliberals to be a leveller, has done the opposite. Although this is another topic to discuss, my point is that globalization is good, but it seems that the consequences it has generated for BP Plc. are far greater than the good it has produced for people and the environment..