DEEPWATER HORIZON INCIDENT
WORD RELY: 6000
Upon April twentieth 2010 bp had a significant oil spill off the Gulf coined the " Deepwater Horizon IncidentвЂќ in which 11 (11) individual's loss their particular lives. This kind of incident in a negative way affected the company's brand and bp company equity plummeted by $7. 4bn, representing a 61% fall (Brand Finance 2010).
BPTT which is a subsidiary of bp Global had to take care of with the negative impact of the crisis within the local industry while keeping its popularity, bp brand and local aspiration alive and treating with any bad fall-out from the event.
The local aspiration encompasses bp manufacturer values of wanting to always be progressive, performance driven, progressive and liable (appendix 2) as stated: " We are innovators within the BP global Group with a distinctly Trinidad & Tobago id. In providing extraordinary business performance, all of us will positively participate in the development of the country simply by positively affecting the life of everyone who functions for the corporation, every resident and the global environmentвЂќ A mounted problems response was necessary which included stakeholder proposal, responding to adverse publicity, romance management, manufacturer management and brand collateral to combat the effects of the incident in Trinidad and Tobago.
The subsequent pages tries to analyze the bpTT position relative to its brand values and desire and generate recommendations for coping with future danger incidents on the anniversary on this event having occurred. Stand of Contents
2 Catastrophe Response to Deepwater Horizon6
2 . 1 The Dilemma вЂ“ Negative Manufacturer Equity6
installment payments on your 2 The Social Media Response7
2 . 3 Relationship Marketing and Stakeholders8
2 . 4 Promoting Research Conducted10
3 Would BP have it Right? 12
3. 1 The Corporate Directive12
3. a couple of Did the social media plan work effectively13
several. 3 Manufacturer Equity вЂ“ Can we live up to the brand values14 3. a few Understanding the BUSINESS-ON-BUSINESS relationships and stakeholders15 three or more. 4 Results of the Research and actions plans developed16 4 Tips for future action18
4. one particular Mapping environmental surroundings вЂ“ mini and macro18
4. two Crisis Conversation Strategy19
5. 3 Organization to Organization Marketing20
some. 4 Brand Management to get the future22
4. a few Marketing Info System23
4. 6 Green Consumerism26
five Interdependencies and reflection28
Appendix #1 вЂ“ Key Facts and Figures33
Appendix #2 - Core Ideals " What we stand for " 34
Appendix #3 вЂ“ " The HeliosвЂќ bp Brand Logo35
bp Trinidad and Tobago (bpTT) LLC is one of the greatest producers of Gas towards the domestic market and makes up about 25% Govt Revenue and 10% of GDP (2009 statistics) to get Trinidad and Tobago (see appendix 1). The company's regional aspiration attempts to positively impact the folks and environment in which all of us operate.
bpTT is a leading in the Oil and Gas industry with 50years of experience and a strong manufacturer. The company provides a long proven relationship and reputation with stakeholders and collaborates with all the Government in shaping long-term agreements such as the development of the Atlantic Liquefied Natural Gas (LNG) trains to offer gas to the markets they serve. The business therefore prides itself as being Market Generating (Hollensen S i9000, 2005) and continues to business lead the energy sector locally in many aspects which includes Brand managing and corporate cultural responsibility.
It can be on the background of this background bpTT led by Connection and External Affairs (C& EA) could respond to the tragic episode of April 20th 2010 where 11 persons damage their lives and a massive Oil Leak occurred from the Gulf of Mexico вЂ“ " Deepwater HorizonвЂќ.
Taken from this incident bp business image endured negative company equity. It absolutely was quoted in Branding Approach Insider September 19, 2010 " BP will...
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Safety: Over 12 million man hours with no Day Far from Work Case (as in January 2009). Among best performers in BP Exploration & Development segment.
Capex (2010): Approx US$324 million
Contribution to T& To GDP (2009): 10 %.