BP Oil: How to Recover from Disaster

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On May 20, 2010 the Macondo Prospect exploded in the Gulf of Mexico, taking 11 lives as well as opening a sea floor oil gusher that would spew toxic oil into the ocean for the next 87 days.  In total, it is estimated that 4.9 million barrels of oil flowed into the Gulf of Mexico, causing devastating consequences for the ecosystem.  Who was responsible for this disaster?

After various investigations it was found that faulty operations within British Petroleum were the primary cause of the explosion and the subsequent oil spill.  This unprecedented disaster did not slip by the public-eye unnoticed, and the spill made headlines throughout its 87 day lifespan.

As a result, BPs public image was destroyed and there share price dropped from 528.80 to 298 from May 20 to June 29.  Although there was this extreme drop in company share price, today the company remains as one of the largest, strongest and powerful in the world.  So how did BP recover from this catastrophe?

 In my 4 subsequent posts I hope to answer this question.

– BP Oil: How to Recover From Disaster- Answer 1

– BP Oil: How to Recover From Disaster- Answer 2

– BP Oil: How to Recover from Disaster- Answer 3

– BP Oil: How to Recover from Disaster- Answer 4

Universities of the World Series

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Universities at the core of modern society, the forefront of thought and the heart of culture as we know it.

Follow us as we profile some of the most prestigious universities around the world:

– Universities of the World: MIT

– Universities of the World: Berkeley

– Universities of the World: Yale

– Universities of the World: Princeton

– Universities of the World: Harvard

– Universities of the World: Stanford

– Universities of the World: Cambridge

– Universities of the World: Northwestern

Toyota Quality Management Series

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Toyota has been a pioneer in the automotive industry for over half a century.

It is also the forerunner in many of todays Total Quality Management theories and practices.

This series explores the concept of quality at Toyota:

– Toyota’s Quality Tool: 5S

– Think lean, like Toyota: A3, PDCA & Problem-Solving

– The Toyota Way: Interview with Quality Engineer

– Toyota’s Core Principles: Kaizen

– Toyota’s Core Pinciples: Customer First

– Toyota’s Core Principles: ‘Total Participation’ & ‘Employee Engagement’

– The Toyota Way

– Toyota Production System (TPS)

– Toyota Motors: The King of Total Quality Management

Business Initiative Directions Leadership Series

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We at Business Initiative Directions are excited to start our series on outstanding leaders in the business world.

Follow us as we follow the movers and the shakers, people who have changed the game to impact not only business but also the world:

– Leadership Series: Mario Draghi, The Man who Saved the Euro

– Business Initiative Directions Leadership Series: Farit Sahenk