Oil Spill in the Gulf of Mexico - 853 Words

Oil Spill in the Gulf of Mexico Imagine 2,500 to 68,000 square miles covered in 4.9 million barrels of oil. No, imagine being covered in 4.9 million barrels of oil. Picture yourself gasping for air in an ocean filled with oil. That is exactly what birds, sea turtles, dolphins, and other animals had to do after the most catastrophic oil spill of all time occurred on April 20, 2010. The oil spill in the Gulf of Mexico occurred because â€Å"oil from the well shot up and out of the drill column under high pressure, extended on the drilling rig and exploded (wikipedia)†. The rig set on fire and later sank. BP, Transocean, along with government agency employer, all worked hard to avoid further spread of the oil. Regardless of their attempt, the spread of the oil to the surface and shore of the ocean was inevitable. Therefore, all marine animals were affected by the oil contamination in the Gulf of Mexico. Oil filled the blowholes and entered the lungs of dolphins and whales. This made breathing almost impossible. One of the most endangered species of the sea were also affected by the oil spills of the gulf, sea turtles. Turtles covered in oil were at risk of breathing the toxins of the oil, potentially damaging their respiratory system. Texas residents report that dead sea turtles continue to wash up. Although it is estimated that about 6,000 sea turtles have been harmed by the oil spill, only 1,146 have been officially collected. I think that the most memorable images of theShow MoreRelatedGulf Of Mexico Oil Spill1073 Words   |  5 Pages Gulf of Mexico Oil Spill Every day individuals take the true beauty of our nation by visiting recreational areas along with beaches. Oil spills create nothing, but negative effects on the areas that it happens in. Many plants and animals are affected by this negative disaster which sickness the animals or some even die from it. Maybe if more time and money was spent working on having more efficient renewable energy sources than digging up a source of fuel that will eventually run out we would notRead MoreThe Oil Spill in the Gulf of Mexico1155 Words   |  5 Pagesdrilling Deep-water Horizon operated under British petroleum failed in its operation sinking below the seawater of the Gulf of Mexico on the 20th of April 2010. More than 11 workers lost their lives. After this incident, tons and tons of oil gushed from the main opening of the well, buried 1600 meters below the sea level. Necessary steps have been taken to take control on the spill but still there is much to handle when it comes to the consistent danger being faced by the environment. The main culpritRead MoreThe Oil Spill Of The Gulf Of Mexico1812 Words   |  8 PagesPetroleum (BP) is a multinational oil and gas company. Based on market cap, it was the fifth largest energy company in 2013. (IHS Energy 50). Like many petroleum based companies, BP is often under fire from environmental activists for not being environmentally cautious, but during the year of 2010, BP experienced a disaster that would cripple it’s reputation far past that of the average petroleum energy company. Deepwater Horizon was an ultra-deepwater offshore oil drilling rig licensed by BP. ItRead MoreBP Gulf of Mexico Oil Spill 905 Words   |  4 PagesCASE STUDY- MINI CASE: BP GULF OF MEXICO OIL SPILL CASE SUMMARY 1. In a narrative format, summarize the key facts and issues of the case. In the case of the BP Gulf of Mexico oil spill, we examine the effects of an organization not being prepared for this particular crisis. The world scrutinized the actions, inactions, and the human decisions made by BP that led to a major catastrophic crisis. The organization was not prepared for a crisis of this magnitude. Our text stated that this type of negligenceRead MoreEffects Of The Oil Spill On The Gulf Of Mexico1112 Words   |  5 Pagesthe oil spill happens. This oil spill happened five years ago and nearly 5 barrels of oil was spilt into the Gulf of Mexico. The oil spill was caused from an explosion through the Deepwater Horizon drilling rig about 40 miles off the coast of Louisiana. The main effect from this oil spill was the losses of the animals. Causing many to almost go extinct. As a result from the oil spill the earth has had—losses from pollution, the cost, and the damage of people. The first effect of the oil spill is manyRead MoreBP Gulf of Mexico Oil Spill771 Words   |  3 PagesDiagnosing Conflict caused by the BP rig explosion of spring 2010 in the Gulf of Mexico and analyzing it through the Triangle of Satisfaction was a challenging endeavor. Looking through the eyes of BP, the State of Louisiana and the US Federal government I first identified the motivating factors from each perspective. British Petroleum BP is a powerful mega-organization, with a business model that reports â€Å"their belief of achieving sustainable success as a group, is to act in the long term-termRead MoreBp Oil Spill On The Gulf Of Mexico1249 Words   |  5 PagesBrittneigh Campbell POS 303 BP Oil Spill Survey Research Question How did the BP oil spill in the Gulf of Mexico in 2010 affect our economy and environment, and what does the future hold, with regard to the environment, oil drilling, and sustainability? Introduction For the best range of participants and the east of analyzation, I chose to conduct an electronic survey. I posted the survey (publically) on Facebook. This allowed people from all over the country, from almost all sections of social-economicRead MoreEssay on BP Oil Spill in the Gulf of Mexico3115 Words   |  13 Pages An oil spill of 4.9 million barrels, which happened in 2010, created not only turmoil for the environment, but caused the economy to take a great hit from the loss of an important raw material. Transocean were the owners of the oil rig drilling on behalf of BP, who were the ones at fault for the spill. This event caused a stir in both the government and non-governmental organizations, because of the extensive damage that it caused. Federal investigations were put under way to determine theRead MoreDeepwater Horizon Oil Spill in the Gulf of Mexico Essay2106 Words   |  9 Pagespetroleum (oil) and are all needed for survival. Oil was, at one time, plentiful a nd considered more of a nuisance for those who were drilling wells for water in the US because it would seep into the wells. Early uses for the oil were for machinery lubrication and burning in lamps. It wasn’t until the invention of the internal combustion engine, which made life and manufacturing so much simpler, that oil became of more interest. In the late 1800s John D. Rockefeller started one of the first oil companyRead MoreCase Study: BP and the Gulf of Mexico Oil Spill3602 Words   |  15 Pages...................................................2 Was this disaster strictly a BP failure or an industry accident?........................................................................2 What factors affect the competitive environment of the oil industry? ...........................................................2 Question 2 ............................................................................................................................................................4 What were

Differentiating Between Market Structures - 1598 Words

Differentiating Between Market Structures Jennifer Lavallee ECO/365 May 27, 2013 Market structure is the physical characteristics of the market within which companies react. This means that there are different kinds of market structure based on how companies work together within a particular industry. Location and product have the most to do with determining the market structure. There are four defined market types. The first market structure is called the perfectly competitive market. The second market is called a monopoly market structure. The third market is called monopolistic competition market structure. The final market is called oligopoly market structure. Each market structure is different and both benefits and disadvantages†¦show more content†¦Kudler Fine Foods offer a bakery and pastry department, fresh produce, fresh meat and seafood department, cheese and specialty dairy products, condiments and packaged food along with fine wines from around the world. Their mission statement is about providing the best product and customer service possibl e giving the customer a delightful and pleasing shopping experience. Kudler Fine Foods uses a strategic plan to be successful. Their strategic plan is in their mission statement. They want to offer high quality products from around the world and have knowledgeable customer service that gives the shopper a delightful experience. This plan intertwines with their marketing strategy. By advertising they have excellent customer service and products they are hoping to attract not only the average shopper but the higher class shoppers as well. Kudler performs well in its market because it continues to make a profit. Kudler uses customer surveys to determine its success. These surveys are filled out by the customer to explain how their shopping experience was. The surveys created and given by Kudler include questions about the store itself, merchandise and the customer service. Customers can let Kudler Fine Foods know how convenient the store hours are, how appealing the atmosphere and dà ©cor of the store is and if the store provides a good selection of pro ducts. Merchandise is assessed by customers answering questions about the selection,Show MoreRelatedDifferentiating Between Market Structures1766 Words   |  8 PagesDifferentiating between Market Structures Jessika Canales Dà ­az ECO /365 08/28/2010 Instructor: SR. Carlos Mà ©ndez David Differentiating between Market Structures In this simulation, the learner studies the cost and revenue curves in different market structures perfect competition, monopoly, monopolistic competition, or oligopoly faced by a freight transportation company, and makes decisions to maximize profits or to minimize losses. The simulation also deals with the concept of Prisoner’sRead MoreDifferentiating Between Market Structures And The Market Structure1239 Words   |  5 PagesDifferentiating Between Market Structures Arthur Levitt once wrote, â€Å"Our markets have not achieved their greatest successes as a result of government fiat, but rather through the efforts of competing interests working to meet the demands of investors and to fulfill the promises posed by advancing technology.(Arthur, Levitt. (2015)) The competitive nature of an industry is what drives our markets throughout the world. An industry consists of all firms making similar or identical products. McDonald’sRead MoreDifferentiating Between Market Structures1692 Words   |  7 PagesDifferentiating Between Market Structures Using the virtual organization of Kudler Fine Foods, evaluations will be made to determine market structure and competitiveness. Kudler Fine Foods current strategic plan for 2003, marketing overview, and market surveys will provide information to evaluate how Kudler competes in its market and where its strengths and weaknesses are located. Based on the evaluation of Kudler Fine Foods an applicable market structure will be determined and the structures effectsRead MoreDifferentiating Between Market Structures1924 Words   |  8 PagesDifferentiating Between Market Structures Alana Campbell, Dale Fortune, Katrina Beyah, Leonard Cooper University of Phoenix ECO/212 Principles of Economics Donnetta McAdoo December 5, 2011 Differentiating Between Market Structures To understand the economy of today one must understand the different market structures that make up the economy. There are four market structures that define the economic structure within the world’s economy; perfect competition, monopoly, monopolistic competitionRead MoreDifferentiating Between Market Structures1910 Words   |  8 PagesDifferentiating Between Market Structures Don Peterson ECO/365 February 2, 2015 Elena Zee Differentiating Between Market Structures A market structure in economics describes the state of a market with respect to its competition. There exist several different market structures like perfect competition, oligopoly, and monopolies among others. These markets all produce different types of goods or services, like public and private goods as well as common and collective goods. Firms operatingRead MoreDifferentiating Between Market Structures1134 Words   |  5 PagesDiffereantiating Between Market Structures Identify  the market structure in which this organization competes. Clearly indicate why the market structure was decided upon and how this market structure differentiates from the other alternatives.   MARKET STRUCTURE The interconnected characteristics of a market, such as the number and relative strength of buyers and sellers and degree of collusion among them, level and forms of competition, extent of product differentiation, and ease of entryRead MoreDifferentiating Between Market Structures Essay1077 Words   |  5 PagesDifferentiating between Market Structures The structure of a market is defined by the number of firms in the market, the existence or otherwise of barriers to entry of new firms, and the interdependence among firms in determining pricing and output to maximize profits. The author of this paper will cover: the advantages and limitation of supply and demand identified in the simulation, the effectiveness of the organization in which the author knows, and how the organizations in each market structureRead MoreDifferentiating Between Market Structures Essay1105 Words   |  5 PagesDifferentiating Between Market Structures ECO/365 Principles of Microeconomics August 30, 2012 Differentiating Between Market Structures Retail sales are indicators of microeconomic conditions presented in a given area at a particular place in time. Since Sam Walton opened his first Wal-Mart store, Wal-Mart has been making ripples throughout the micro economies of America. Wal-Mart’s market structure is typical of most of our nation’s largest corporations in that they are an oligopoly (BrownRead MoreDifferentiating Between Market Structures Essay1260 Words   |  6 PagesDifferentiating Between Market Structures Yvonne C Rivera ECO/365 May 16, 2013 Paul de la Pena Abstract There are many TV service providers available in the U.S; however there are only two companies that offer services via satellite. Dish operates within the monopolistic competition market. Dish has been in business since the early 1980’s and has gradually worked its way up to become one of the leading satellite provider and innovator of new technology. In 2013 they offer service to overRead MoreDifferentiating Between Market Structures in Kudler1022 Words   |  5 PagesDifferentiating Between Market Structures in Kudler ECO365 â€Å"Kudler Fine Foods was established in 1998 when Kathy Kudler fulfilled her vision of establishing her own gourmet food store. The La Jolla store continues to grow while the Del Mar store has been having some difficulties. The store in Encinitas has just opened, but sales seem brisk.† (Apollo, 2011, Strategic Plan, p. 3) The owner works 7 days a week and performs many jobs from purchasing to stocking shelves. Kudler Fine Foods sees

Business Research Report Free Essays

Social media, dating sites and shopping sites all use given registration information to learn more about consumers. The more companies know about people, the better they can decide who their potential customers should be and how to reach them. Social media is communication through online communities. We will write a custom essay sample on Business Research Report or any similar topic only for you Order Now The use of social media in marketing has become very popular over the last few years. This is a very effective way to promote content by increased visibility. Using these platforms also allows for more involvement with the customers to build more trusting relationships with them. Customer relationship management refers to software that records and analyzes all kinds of useful data. This info can be obtained in many different says by either the company or a third party. It is used to understand the customers and their buying habits. We recommend opening a Faceable and Twitter account, using those accounts to hyper target and creating a CRM database. We chose these specific technologies because they are fairly simple to implement and would be the most helpful for our company. Introduction The purpose of this report is to review and analyze new information technologies that can assist with marketing in the company. As of this year, there are over 950 companies that provide marketing software (Brinier 2014). Everyday, marketing professionals are looking for new ways to grow their business and technology has changed the way they reach new customers. These days, it’s all about the customers and what they want and because they have access to pretty much everything, marketers have to find a way to get their attention. It is estimated that people spend about 1 1 hours a day using some form of technology (Patronize 2014). Knowing this, traditional marketing just isn’t enough anymore. If companies want to keep up with consumers, they must keep up With technology. With all of the technology available for use, companies can have so much information at their fingertips. Out of all of the possibilities, we chose to examine social media, hyper targeting and customer relationship management (CRM) because we think those will work best for the company. Social media is very low cost and will allow us to reach a much bigger audience. We can engage the audience and build relationships with them this way. Hyper targeting will be used to identify potential customers and reach them more efficiently. This ensures that the people we advertise to are more likely to be interested in what we have to offer. Having a CRM database would low easy access to all of our information about our customers. This information can be used in anyway that our company sees fit. Hyper Targeting Hyper targeting is defined as the ability to identify potential consumers and deliver targeted advertising content. History The phrase â€Å"Hyper Targeting† was actually coined by Namespace (Gold, 2009). Namespace discovered that they could target consumers for ads based on the information provided in users’ registration and profiles. This information might include age, sex, geographic region, education, favorite movies, entertainment, restaurants, etc. Namespace discovered that because of the large numbers of registered users, they could target very specific user interests and still reach large numbers of people. Today, dating sites, social media sites and other sites that require user registration and other â€Å"self- expressed† user information all make use of hyper targeting. Hyper Targeting with Twitter and Faceable The social media sites Twitter and Faceable both make heavy use of hyper targeting. A company advertising on Twitter can target every Twitter user who has specific words in their public bio, or someone who uses particular words often in tweets, or someone who follows certain verified other retailers. Businesses can also create a user list using those specifications and show that group â€Å"promoted nets† (Smith, 2014). Faceable allows advertisers to target users by age, SeX, language, location, workplace, education, interests, browsing history and more, with different ads for different populations. Advertisers can even display ads in different languages, depending on whom they have hyper targeted (Albacore, 2011 Mobile Hyper Targeting Advertisers may target mobile device users based on the location Of the user, via a number of methods. Users’ locations can be estimated based on their IP address, but this method is not always accurate. A more accurate approach is to use the GAPS coordinates that the user has chosen to share with certain mobile applications. Once the users location is known, advertising may be targeted based on proximity to a particular place (I. E. The city center), or based on proximity to a particular retail outlet. Advertisers may also presume that users have a particular interest based on their location (I. E. If they are at a hockey game, perhaps they like sports), and target advertising accordingly (Kombi, 2013). Analysis Hyper targeting can be used to identify potential customers based on relevant criteria and deliver advertising to them. Hyper targeting may limit the size of the advertising audience, but the â€Å"targeted† consumers are much more likely to respond to the advertising. Hyper targeting is relevant to our company because it can help us determine who our customers are and/or should be, and it can help us reach them more efficiently. Social Media Social media, as most know, is a form Of electronic communication through online communities. According to Pew Research (2014), 90% of adults ages 8-29 use social media, which has made it a very popular way to market over the last few years. Social media is used to promote and inform, gain valuable feedback and build relationships with customers. Promotion Twitter and Faceable are often used for promotion and are very effective (and free). Customers look on these pages for all kinds of information about companies and social media is a fast and simple way to keep them updated. A company can invite people to like their page and share their posts and just like that, millions of people could be exposed to the content. The global average of a share on a social networking site is $3. 0 (Meyer-Brandt 2014). This is how much money the company makes due to increased visibility from each share of their content. Engaging Social media platforms are a great way for businesses to engage and build relationships with customers. This is now one of the fastest ways to communicate with people. Because it allows for two-way communication, where television and radio don’t, it is much easier to engage people. Companies can ask for people’s opinions with new projects and encourage them to share their content. Getting them to participate in voting, contests and provide feedback can help the company be more transparent to the public. Responding to questions and comments can make customer service experiences better. Analysis With social media being such a big part of society these days, there isn’t really a better way to market one’s business or product. This is important to us because we can reach a bigger audience to share information about our company with than we could using most other avenues. Social media marketing is usually free and will allow us to build relationships with our â€Å"followers† and involve them. The more involved they are, the better and more trusting relationships we have with them. Those relationships will lead o better experiences for our customers, who will spread the word and bring more business to us. Customer Relationship Management (CRM) Customer Relationship Management (CRM) can be defined as a strategy used to record and manage data and interactions with customers. This strategy usually involves using some kind of software that saves and analyzes data. Information The information collected could be contact info, demographic and complete transaction history. Surveys could be given to customers to find out what they like and don’t like. One method used to obtain information is to offer a shopping/loyalty card. Giving rewards and discounts to customers will encourage them to sign up, which is when they will provide some of their info. Some companies also use a third party to connect people to account numbers and credit cards. How it’s used The information can be used in many ways to help improve marketing. The idea is to understand the relationship between the company and the customer with their buying habits. All of the info that is recorded over time and through each and every customer interaction is saved in a database and is used to target customer’s specific needs. So, now it is easier to market the eight product to the right person for the right price. Implementing a CRM system can be very beneficial to the company. This is the fastest growing marketing tool in the last five years (Reardon 2011 All Of our information involving customers would be in one organized database. The marketing team would then have easy access to all of the info and use it as they see fit. Having this knowledge, marketers would be able to find more qualified customers, making the time spent doing so more valuable. This would save the company time and keep us from wasting money on marketing to the wrong people. Recommendations Our company, like others, relies on sales for profit. It is recommended that we take measures to increase those sales by implementing the findings. The first thing we should do is make a Faceable and Twitter account. We can designate people to administer these accounts, keep them updated and get people interested in our company. We should then, use our social media accounts to hyper target. There are various software programs to choose from or we can let Faceable and Twitter do all of that for us. Lastly, we should decide what information we want to use in a CRM database; what info ill be most helpful to our company. Then, we need to decide if we want to create our own database or if we want to pay a third party to do collect the information for us. These findings are important because they will help our company advance in marketing, which is likely to lead to higher sales. Social media is a fast and easy way to reach the most people. It permits us to communicate and engage existing and potential customers. We can also use these platforms to hyper target our content. Hyper targeting will help us by advertising to the people who are most likely to respond, getting the most out of our marketing. Creating a customer relationship management database will contain all of our customer’s information. How to cite Business Research Report, Essays