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BP Crisis Management, PR Misfires a Case Study Marketing/Sales 0 The BP Deepwater Horizon oil rig ablaze. Image: U.S. Coast Guard Updated April 20, 2019 - On the ninth anniversary in the aftermath of the Deepwater Horizon disaster in the Gulf of Mexico, the lawsuits against BP are winding down. The company has been liable in 390,000 lawsuits to the tune of more than $67 billion. Moreover, it was the worst environmental disaster in U.S. history. And nine years later, environmentalists point out the environment will never fully recover. But profits have returned. In February, it was reported BP's 2018 profit beat expectations: $12.7 billion vis--vis a forecast of $11.88 billion With all the lawsuits, many shareholders had largely felt that BP had over- promised and under-delivered. So, its share price had been volatile despite its higher profits and shift to green energy. nighter promis ana shit to green energy. You might recall 11 people died in that disaster. BP initially set up a $20-billion trust to pay damage claims. The disaster is a reminder - about every 20 years, there's a major oil-spill disaster. None has been handled well, PR-wise. Start Download START Ad Free Forms Now Open On Jan. 29, 1969, an oil spill involved Union Oil off the coast of Santa Barbara, CA. On March 24, 1989, it was the Exxon Valdez oil spill in Prince William Sound, Alaska And on April 20, 2010, it was the BP oil spill in the Gulf of Mexico And on April 20, 2010, it was the BP oil spill in the Gulf of Mexico. Dr. Peter Drucker's quote, "Arrogance is being proud of ignorance," obviously was not intended for the most recent public relations debacle facing BP, but it sure is applicable. The results are a case study for worst-practices in crisis management. The disaster is a reminder - about every 20 years, there's a major oil-spill disaster. None has been handled well, PR-wise. BP inadvertently created a PR situation synonymous with herding cats. It's had to fight to clear up two quagmires - its oil mess and its tarnished image. Risk analysis It's important to understand the need for a comprehensive risk analysis. First impressions demonstrating empathy and competence are vital. FINANCE WALL STREET PUBLIC Risk analysis It's important to understand the need for a comprehensive risk analysis. First impressions demonstrating empathy and competence are vital. It didn't appear BP was prepared to successfully deal with such a catastrophe. A good old-fashioned SWOT analysis of strengths, weaknesses, opportunities and threats with worst-cases scenarios would have sufficed. For possible insights into BP's corporate mindset, a former CEO of Royal Dutch/Shell's U.S. subsidiary, Shell Oil, has some illuminating realities. In the strategy+business management magazine, CEO John Hofmeister's article, "Why We Hate the Oil Companies," explained how some corporate oil CEOS dysfunction He indicates they earn their reputations for arrogance and blow opportunities to create the right image. "Retailing fuels is basically a secondary exercise from the oil company's point of view, a way to get rid of the product it has spent so much time and money producing," he writes. "This makes the retail side the least valuable part of the business more often a nuisance than a value creator." Thang CN CITY SCOTTentary Government that an Light calls on Secretary Napolitano to step down." Best practices To minimize the damage, BP should have immediately accomplished five tasks: 1. Issue regular, frequent progress reports 2. Control the pictures (even some on the Web site appeared to be canned or generic) 3. Transparency 4. Display empathy as a concerned corporate entity comprised of authentic people diligently making a good-faith effort to solve the problem 5. Stop lobbying for environmental waivers Admittedly, BP has taken positive steps in recent years, but it still seems snake- bitten in 'The Shape of You," Felice Stevens, the author of several romance novels, wrote: "The wonderful thing about second chances is that they exist." Start Download Ad START START Ad Free Forms Now Open But eight years later, BP is not getting a second chance to get it right among shareholders. Investors aren't universally loving the company