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Board of Governance Principles - Case Study Example
The Board and the executive management of British Petroleum public limited company led by Peter Sutherland, the Chairman of the chairman's and the nomination committees has created, written, and implemented the Board of Governance Principles to afford them seamless maneuver of business within a comprehensible control structure…
This is the manner, with which the Board ensures revenue for the shareholders' investments with consistent and regular review of long-term plans, decision-making achievements, and replacements for Board members and executive management personnel.
At British Petroleum public limited company, the members of the Board entrust their decision-making management authority to the company's Group Chief Executive led by Tony Hayward, the Group Chief Executive, member of the BP board of directors, head of the BP executive management team, and steered by the Board of Governance Principles.
Prior to efficient management, the company's Group Chief Executive Tony Hayward must have understood the business ethics of British Petroleum Plc prior understanding the company business, as theoretically, trade is directly related to ethics. In comparison, a good number of commercial executives recognize article of trade-based type of business ethics. This is well-liked by the communication industry, the courses offered in business schools, colloquiums, and educational prose. But, the other type of business ethics called sense-based has been overlooked by the majority in the industry. These two different types of business ethics are supposedly inseparable duo (Pava, 1999). ...