Mngt 5000 Term Paper

MNGT 5000 may 14, 2010 Term paper There argon more get laids that companies confront every day that could potenti exclusivelyy be managed in a dissimilar way. The teleph oneness number that I would like to reexamine is an issue that is in the forefront of the in the raws these old age. It is fleshy to say when on that point great power be nearly sort of resolution to this issue, ground on the size and impact to the purlieu and economy. The most recent issue occurred on April 20, 2010. This was when the Deepwater opinion inunct color rig set off and sunk into the Gulf of Mexico 2 days later. Along with this explosion, in that location were 11 nation reported missing and ar delusive dead.The bigger problem that British crude anele colour color has experienced since this explosion is a blow out out embarrasser (BOP) that failed. This failed BOP has caused a despicable oil passing water that is gushing from the marine floor. The sign estimates were that the leak would be more or less 1,000 barrels or 42,000 gallons per day. This number has since skyrocketed from the initial estimates. As of whitethorn 13, this number is now thought to be as steep as 70,000 barrels per day, or 2,940,000 gallons. With the criterion of oil that is leaking into the Gulf of Mexico from this incident hold back it the potential to be the worst oil exit in US history.The precedent largest oil chuck in US history was the Exxon Valdez oil color Spill that occurred on March 24, 1989. As a comparison, the Valdez spill lost 250,000 barrels of oil, or 10,500,000 gallons. It was non until 1992 that the clean up from this spill was roundd. From the estimated numbers, the reliable spill allow for eclipse the Valdez spill in only a affaire of days. Given the fact that the Valdez spill took 3 years to clean up, we do-nothing only speculate as to how long it office head to clean up the personal effects of the Deepwater Horizon. The main(prenominal) problem that BP is immediately face with is how to control and stop the Deepwater Horizon leak.There swallow been many suggestions as to what approach they should take. British Petroleum has had to utilize the castning excise and discipline to follow through several(prenominal) different strategies since April 22, 2010. While the typical political platformning attend might take several weeks or months, BP had to speed this process up. Their goal is to assay and minimize the impact to the Gulf of Mexico and the border environment. Planning is necessary to mili yapy service revolt a structured process for make for decisions about the goal they are exhausting to reach. There are 6 main footfalls involved in a formal planning process.The first gear measuring stick in the planning process is situational abstract. This first rate most likely started for BP on April 20th after the explosion happened. This is when all relevant information about the plan is benefited, interpreted and summarized. For this situation, it most likely include studying past events, the current conditions and exhausting to forecast future events. The next stair in the planning process is to review substitute(a) goals and plans that might rush been identify through the situational analysis. A goal is a certain target that is set by a manager that they hope to reach.The pick goal that BP conveys to try to give as quickly as realistic is to stop the leak that is gushing from the ocean floor. The book Management Leading & international deoxyadenosine monophosphateere Collaborating in the Competitive World outlines a very helpful acronym to ensure you gather certain qualities in the goals you set. The acronym identified is SMART. This stands for Specific, Measureable, Attainable, pertinent and Time- bouncing. There are parts of this acronym that are a little more new for BP than round of the other pieces. The sentence bound is the part that sticks out in my mi nd.The long-dated it takes to contain the leak from the ocean floor, the larger the impact to the environment and to BP financially. As of whitethorn 13, the oil has been leaking from the Deepwater Horizon site for 24 days. It appears that BP has come up with many resource plans to try and address and contain the oil leak that the failed BOP has created. Next we depart review the different plans that BP has established and how some of them shit been disciplineing so far. A plan is defined as how the heed staff plans to get through the outlined goals. BP has presented several plans that they lead use to try and get through their goal.The first plan that they will try to lend oneself is to lower a containment box seat over the leak that will so funnel the oil to the surface and into an oil tanker. This will be the quickest survival of the fittest that they groundwork try to put in place to stop the leak. Another woof that they will try to implement at the same time is t o drill a relief well, but this could take up to 3 months to complete. erst the alternatives have been reviewed, we move to pure tone three which is to evaluate the goals and plan. all told of this planning has to be completed in a very tight time frame for BP, because as the time passes, the oil continues to leak.During this step, perplexity will review the advantages and disadvantages of the alternative goals and plan from step 2. The drilling of a relief well has a gigantic disadvantage receivable to the time frame. This step also includes prioritizing and potentially eliminating some of the goals. tint 4 is the Goal and Plan Selection. afterwards having reviewed and prioritized the goals in the last step, this is where the decision will actually be made on which goal and plan is most feasible. after(prenominal) the selection has been made, the following step is to implement plans to achieve the goals that have been outlined.As of may 7, British Petroleum has started to implement their plan of clayey a container over the leaking well. Once everything is implemented, the net step is to monitor and control the work that is beingness done. The container was victoriously lowered into place, however ice crystals started to form and blocked the call that would de functionr the oil to the surface. BP has now had to fix to some of their back up or alternative plans. Some other ideas that have been presented in this process include utilize a smaller containment dome, shooting pan into the well to clog the hole, and siphoning the oil into a tanker at the surface.With these different plans in place, BP will have to ensure that they have a good scheme if other alternate fails. The definition of scheme is a pattern of actions and resource allocations designed to achieve the organizations goals. Planning and scheme go hand in hand. BP will need to use some strategic management in dealing with this situation. strategical management is basically a st rategic planning process that has six major steps. The first step is to establish a relegation, batch and goals. The mission is short controversy that describes the purpose of the organization.The vision is what the organization hopes to gain in the future. BP has their company mission and vision statement listed on their site as their values. The sites states BP wants to be recognized as a great company competitively successful and a force for progress. We have a fundamental belief that we can make a difference in the world. We help the world meet its growing need for heat, light and mobility. We strive to do that by producing energy that is affordable, secure and doesnt misuse the environment.BP is progressive, responsible, innovative and performance driven. The second step in this process is to do an analysis of external opportunities and threats. This includes understanding the different forces that might affect the companys mission and vision. This is a unique situation for BP, due to the fact that they are trying to live up to their values, while trying to prevent an environmental disaster that could potentially maculate their name for quite some time. aft(prenominal) reviewing external factors, step 3 is to complete an analysis of internal strengths and weaknesses.There are many aspects to an organization that can be reviewed a couple of key parts to be reviewed would be resources available and core competencies. Resources can fall into two categories, tangible and intangible. go 2 and 3 provide a good foundation of information for step 4, which is SWOT Analysis and Strategy Formulation. Once the SWOT analysis is complete, in that location are several different strategies to consider ground on the type of business that is in operation. For BP and this situation, I would think that they would need to implement a functional strategy.Once the type of strategy has been decided upon, step 5 is strategy implementation. During this step, BP would need to ensure that the strategy is being implemented efficiently and effectively. Once implemented, this takes us to the final step, which is strategic control. I mean this control will not be in place until the leak has been contained. In this final step, typically there is a system to help support management in evaluating how the organization is doing with the strategy. Overall, BP has an enormous job that they are faced with. It will take good planning and strategy to fragmentize the issue as quickly as possible.They are faced with having to contain one of the largest oil spills in US history. It is ponderous to accurately measure the true issue forth of oil that is leaking from the well however there are several estimates of how much oil is leaking per day, ranging from 1000 to 70,000 barrels. As of whitethorn 13, 2010, BP has had to fall behind to alternate plans due to their initial examine failing. It will be interesting to teach the news and see how BP continues to manage the situation. It is approximately guaranteed that the government will intervene at some point, possibly by implementing new laws around off shore drilling.We can only hope that the impact to the environment is not too great, but there have already been reports of dead animals and tar balls washing ashore. It is hard to think that there would be no impact with so much oil leaking into the ocean. I stillness remember the images from the Exxon Valdez oil spill in 1989. I can only mean we will start to see some of the same images in the future from the Deepwater Horizon spill. Lets hope that BPs management staff has all the tools necessary to have a strong plan in place to rectify this problem. Bibliography Robertson, C & antiophthalmic factor Lipton, E (2010, April 30). BP Is Criticized Over Oil Spill, but U.S. Missed Chances to Act. New York Times. Retrieved whitethorn 11, 2010, from http//www. nytimes. com/2010/05/01/us/01gulf. hypertext mark-up language The Valdez Oil Spi ll. (n. d. ). Retrieved May 11, 2010, from http//www. exxonmobil. com/corporate/about_issues_valdez. aspx Deepwater Horizon Oil Spill. (n. d. ). Retrieved May 11, 2010, from http//en. wikipedia. org/wiki/Deepwater_Horizon_oil_spill Gulf Oil Spill Layers. (n. d. ). Retrieved May 13, 2010, from http//maps. google. com/maps/mpl? moduleurl=http//mw1. google. com/mw-earth-vectordb/disaster/gulf_oil_spill/gulf_oil_mapplet. xml&mapclient=google&hl=en Weber, H. amp Burdeau, C (2010, May 6). Expedition to contain oil leak begins in Gulf. Associated Press. Retrieved May 11, 2010, from http//www. google. com/hostednews/ap/article/ALeqM5gIXWYBTpLtSayJtg41LKXpxSxVPAD9FH9GN80 Resnick-Ault, J. & Polson, C (2010, May 11). BP to Try over again to Control Oil Leak as Hearings Start (Update3). Bloomberg Businessweek. Retrieved May 13, 2010, from http//www. businessweek. com/news/2010-05-11/bp-to-try-again-to-control-oil-leak-as-hearings-start-update3-. html What we stand for. (n. d. ). Retri eved May 13, 2010, from http//www. bp. com/sectiongenericarticle. do? categoryId=9002630&contentId=7005204