BP Stakeholder and Reputation Management Research Paper

BP Stakeholder and Reputation Management - Research Paper ExampleStakeholder solicitude helps a business to give the desired goals more efficiently by maintaining the investors satisfaction levels. It also enables the organizations to retain the existing investors and recruit revolutionary ones in an ethical and responsible manner. Stakeholder management forms an important part of business through which an organization bottom of the inning develop its goodwill. Every sound organization needs to satisfy the stakeholders in order to pay back in the business (Carroll and Buchholtz, 2014).Reputation management involves activities that a business must perform in an attempt to throw or upkeep goodwill in the eyes of the public (Argenti and Druckenmiller, 2004). It involves identification of the individuals expectations from a business and winning necessary steps to ensure that the general consensus is in parity with the organizational goals. This term was originally utilize to deno te public relations that are necessary for a company in order to sustain in the market. The disaster turned out to be an issue of search result over the web, spare-time activity the advancement made in social media, computing, and internet. There are various ethical forms of reputation management such as responding to the customer complaints, restraining sites from displaying incorrect information and utilization of the online feedback to influence the process of product nurture (Argenti and Druckenmiller, 2004).BP is a multinational oil and gas company that is headquartered in London. It is the fifth largest company in hurt of revenue and ranks sixth in terms of production. BP operates in nearly 80 countries.Therefore, considering the recommendations mentioned, BP can derive great benefits as well as regain the bewildered status in the oil and gas industry. murder of the suggestions provided can considerably help other oil and gas companies, such as PBGC, to rebuild lost inte grity and reputation.