The announcement that BP PLC, the world's third-largest oil firm, was going "beyond petroleum" generated scepticism from news media, indifference from investors, and outraged opposition from environmentalists in 2000. When BP's Alaska employees raised safety and environmental concerns in 2002, stakeholder groups, news media and regulators were drawn into the conflict.
This case demonstrates how the dynamics of stakeholder activism and influence have changed as a consequence of the emergence of stakeholder-controlled media. These follow different rules and objectives from conventional news media, and their influence on management strategies may be decisive. Participants should gain awareness of the operating principles of these new forces, and how they impact corporate social responsibility in particular.
- Beyond Petroleum
- Financial Times
- Arctic National Wildlife Reserve
- Corporate social responsibility
- climate change
- Corporate Governance
- Board Process and Remuneration at the Top