British Petroleum Company Assignment Example | Topics and Well Written Essays - 1250 words

British Petroleum Company - Assignment Example This paper highlights that Shareholders and owners of BP have the major influence on other stakeholders and business. The cost cutting process may also be a direct result of their emphasis on reducing expenses so that profitability could be improved. Managers are the people who have been trusted with the responsibility of managing the day to day affairs of the firm. Managers of BP are persons responsible for ensuring that the manufacturing facilities at its exploration facility are in conducive form and do not pose any threat to the life of labors or others. Managers interact with the business on daily basis because managing the business is their day to day job. They also interact with other stakeholders through annual general meetings, board meetings as well as interacting with government agencies. The decisions of the managers directly affect the business and the managers as in this case. Managers decided to cost cut and reduce the expenses however; this has resulted into the significant risk issues for the firm. From this paper it is clear that employees are the individuals who work for the organization against certain wages. Employees for BP are the people who work at its exploration facilities and were hurt in different incidents due to security and risk lapses. Business partners of the firm are those firms or individuals who do business with the firm i.e. suppliers of raw material as well other material. Business partners of BP are American government, different other suppliers who have provided it resources to extract the oil from its Texas oilfield. They can influence the business and other stakeholders to the extent of their involvement in the overall affairs of the firms. In terms of safety and risk, business partners can only be limited to the installation and maintenance services provided by them.