British Petroleum has been fined 4.5 billion in criminal fines and penalties. This fine comes after a lengthy trial process, and this marks the resolution of only one of the many lawsuits filed against BP. For a company like BP, which has profits of around 25 billion a year, a fine of 4.5 billion seems like a slap on the wrist.
It sets an example for many other companies, that carry the chance of environmental harm in the oil driven industries, but i believe for an oil giant like BP it just isn’t enough to teach them a lesson. You just can’t put a price on the lives lost on that oilrig, and the permanent damage caused to that entire ecosystem. This small fine allows BP to shrug off their unethical safety practices to increase their profit. BP has a rough road ahead of them, and maybe future lawsuits may hinder their ability to neglect critical safety measures.
This isn’t the end of the punishment that BP faces, as there are countless lawsuits still pending.
This post is based on Christian Legazpi’s blog about Suzuki stepping out of the US auto market. Legazpi agrees with Suzuki’s decision to step out of the US automotive industry based on recent performance. He says focusing on their key markets like ATVs will prove to be successful for Suzuki. Suzuki is the perfect example of a company that failed in expanding out of a market they excelled in, into one they weren’t familiar with. Here is a brief history of Suzuki‘s dominance in the motorcycle industry. As Suzuki entered the new millenium they began to slump due to focus on automobile projects, and it was evident through their declining appeal in the motorcycle market. Through this ranking provided by Motocross Action Mag you can compare the amount of prior Suzuki best motocross bike winners to the winners of the past few years, which are dominated by companies like Yamaha.
I used to own a Suzuki, but ever since their decline and the rise of companies like Yamaha; I decided to switch over to a Yamaha and never looked back.
Suzuki must locate that inner dominance that they once possessed and climb back to the top of the motorcycle industry.
Many believe these two great names are excellent for initiating a debate between Windows and Macintosh. One must look past this naive debate to witness the true greatness of Bill Gates and Steve Jobs. Both created their illustrious lives through entrepreneurship and managed to create technology that has changed the face of the world. Nearly every household has a personal computer, the views of these great men caused this to be a possibility. “We started out to get a computer in the hands of everyday people, and we succeeded beyond our wildest dreams,” stated Jobs.The characteristics of an entrepreneur were abundant in both Jobs and Gates.
With such prominent entrepreneurs from the baby boomer generation, it will be difficult for anyone to replicate such dominance. Mark Zuckerberg has been immensely successful with Facebook and he has displayed that there is still room for young minds in this realm of entrepreneurial greatness. Only time will tell what brilliant minds will be able to rise to the occasion and become entrepreneurs that shift our way of life.
It is clear that Coca-Cola has been vastly successful since its founding in 1886. It’s no surprise that investment guru Warren Buffet has amassed an enormous fortune that was partly created by owning Coca-Cola stock. Interbrand rates Coca-Cola number one in terms of the best global brand. Here is a short video about why Warren Buffet believes Coca-Cola is a great business.
https://www.youtube.com/watch?v=aQBUzH6iXgM
Coca-Cola will continue to be an excellent business for decades to come. Coca-Cola invests capital in key departments such as IT and Supply Chain Management. With a company investing in these components and growing with the trends of the future it is bound to be successful. I find it extremely interesting how a company with such a simple product has been so successful. If you walk outside your bound to come across Coca-Cola products on every corner of the globe, they aren’t localized. Their ad campaigns are interesting and luring, they make consumers want to feel that refreshing chill of an ice cold Coke. The money Coca-Cola invests is reflective of their success, as they invest in key departments on global scales.
This post is based on Lara Galinsky’s blog on “Not Everyone Should Be a Social Entrepreneur.” Galinsky expresses that it isn’t possible for everyone that wants to create a change to become a social entrepreneur, it just isn’t viable. Unfortunately everyone will not be able to create a groundbreaking organization that socially changes an area with a lasting effect. Galinsky believes we should instead equip the new generation with tools to make them “changemakers, champions, and supporters of the work.”
I fully agree with Galinsky. As much as many of us intend to create a social change that enforces a new equilibrium for some poverty stricken place in the world, all of us will not be able to accomplish this. Instead we should work at socially changing the world around us by providing resources and education for those that are underprivileged. We need to become professionals at what we enjoy and through that we can channel our help to organizations that need it.
Many of us will not meet the definition of a social entrepreneur but that doesn’t mean we can’t support key social entrepreneurs in their journey to change our world for the better.
In 2009 GM received bailouts from the US government that included 50 billion dollars of taxpayer money. Fortunately taxpayers have received about 24 billion dollars of that money back. Unfortunately the rest of the money that GM owes is currently invested in company shares which are taking an enormous hit. Since GM’s initial public offering at $33 the share has dived to $25. It is estimated that the federal government would need $53 a share for taxpayers to break even.
In that miraculous business plan that GM created for the US government they explicitly “promised to fast-track development of energy-efficient vehicles“. From what GM is offering on their showroom floor today, they definitely haven’t fulfilled that promise. On the GM website they speak of “the most fuel-efficient vehicles in our history on the road today“, they go on to speak of a hybrid Silverado that delivers a dismal 23MPG highway. If that isn’t bad enough they mention their Buick LaCrosse which delivers a mixed 25/36MPG rating.
Consumers continuously search for green products to purchase on a daily basis. They attempt to fill their needs by enriching themselves with green alternatives instead of products that are not only costly to the environment but their wallet as well. “over 60 percent of consumers said that they prefer to purchase from environmentally responsible companies.” Companies are attempting to fill this void. They do so by innovating and creating products that are appealing to consumers. Sun Chips, a company owned by Pepsi Co has invented a completely biodegradable bag that they are continually adjusting to appeal to consumers. Initially the bag was seen as “too noisy” but the company has listened and they are investing in efforts to decrease the noise and maintain the sustainability of the bag.
Sun Chips has “cut costs” by moving from a plastic bag that relies on expensive oil to one that is environmentally friendly and also relatively cheaper. Even Subaru has implemented this sustainable practice and saved valuable capital.
Just like a basic economic principle states, investing more in capital now means increased profit later on.
Blackberry is dead due to its own inability to innovate and advance.
This post is based on the blog post by Cathy Lee titled “Blackberry Recovery or Rediscovery”. Lee’s argument is that Blackberry is losing its loyal consumer base to Apple and Android at an increasing rate. Lee believes Blackberry has one last shot at resurrecting the company with its future Blackberry 10 plan.
Blackberry is definitely losing a large amount of consumers because of its inability to deliver a product that meets a specific markets needs. Even corporate structures like medical device manufacturers have switched to iOS devices such as the Iphone because of the excellent apps available for them and their consumers.
Blackberry 10 seems like a dead end to me, it is utilizing technology and concepts that should of been available to consumers from Blackberry over a year ago. The constant release date delays for BB10 isn’t helping the company.
With a decreasing consumer base and an even smaller population of app developers, it is a grim ending for the once mighty and revered company. Research In Motion’s best chance at remaining alive is to license their assets, such as patents and possible future operating system designs like Blackberry 10.
Elegance, style, and sheer power are a few thoughts that come to my mind when thinking of the legendary automaker known as BMW. Through consistent practices they have maintained an advanced level of quality that is delivered to their faithful customers. Customers receive excellent machines that are capable of withstanding the rigours of everyday driving and more.
Consistent branding evolves into power and simple messages endure time. BMW has developed consistent branding that is able to endure time because of the quality that is portrayed through their vehicles, a quality that the consumer experiences. A brand promise is a seed that grows through success, the BMW tree shows no sign of decline.
British Petroleum (BP) is an enormous multinational corporation that had a revenue of nearly US$400 billion in 2011.
Don’t let the logo fool you, BP isn’t nearly as innocent as it seems. On April 20th 2010 BP released up to 4.9 million barrels of oil into the Gulf of Mexico in an explosion that also killed 11 of its workers. For 3 months the spill was difficult to contain and it flowed uncontrollably through the defenceless waters in the Gulf of Mexico. Here is a time-lapse map of how this massive oil spill rapidly spread.
This oil spill could have been prevented if BP would have allocated a tiny fraction of its assets towards the safety of not only its workers but the environment as well. Many safety regulations were avoided as BP attempted to take shortcuts in its drilling process. The large amount of negligence is clearly unethical. Countless lawsuits have been filed towards the corporation and now there is an accusation of “gross negligence“.
Whether or not BP will face further discipline remains to be seen.
