Present a case study based on a current news story which illustrates Essay

Present a case study based on a current news story which illustrates the microeconomic concepts - Essay Example ment by the company in taking its responsibilities thereby recommending the cut of any business transaction between the company and all government agencies. However, the ban did not affect the existing contracts thereby applied only to any other new contract that the company would gain interest in. The company admitted knowledge of the ban and said that they were doing everything within their reach to redefine the relationship between them and the government thus lifts the ban. The 2010 deep water disaster arose after an undersea oil pipe burst thereby killing more than eleven Americans and resulting in the worst environmental disasters in the world. The British Petroleum thereafter pleaded guilty of all the accusations leveled against it by the American government after which it embarked on a massive environmental cleaning process and the compensation of all the victims of the accident. Apart from the human loss, the oil spillage resulted in the death of millions of aquatic life and the destruction of business for thousands of America investors as several beaches within the gulf filled with the oil sediments. On 15th November 2012, BP had reached a consensus with the justice department to pay four and a half billion dollars thereby ending all criminal charges leveled against it by the government. The company therefore reiterated their commitment to work closely with the American institutions to ensure that such an accident does not recur and that it settles all its obligation in relation to the accident. However, according to Charles Teifer, a government contracting specialist and a professor of law at Baltimore University, the ban served as a warning to the company and to other stakeholders in the oil drilling business. Teifer explained that such a ban communicated American commitment to protecting its territories especially after suffering the greatest loss because of the carelessness on the part of the company. On the other hand, the environmental authority

Business pychology Essay Example | Topics and Well Written Essays - 2000 words

Business pychology - Essay Example As businesses try and become more competitive, the human asset behaviour within the business enterprise has become more and more relevant and hence a greater reliance on business psychology. Motivating and retaining this asset has always been a challenge to any business enterprise and this has called for an increased understanding of what causes individuals to be more effective at work. While efficient business organizations have looked at finding both the right person for a job function and the right job function for an individual, making them satisfied at work or providing job satisfaction is a factor that has increased in importance with the enhanced requirement for business organizations to become more competitive for survival in the modern era. Providing a definition for job satisfaction is not an easy task as there are several factors or experiences and the responses to them that make up total job satisfaction and some of these include satisfaction of the remuneration received, career prospects, satisfactory supervision, satisfaction in the environment and satisfaction in the job functions and responsibilities. The definition provided by Balzar et al, 1997 gives an adequate definition for job satisfaction. As per Balzar et al, 1997 job satisfaction is â€Å"the feelings a worker has about his or her job experiences in relation to previous experiences, current expectations, or available alternatives†. There are three factors that have given prominence to the job satisfaction and the study of job satisfaction. These three factors are humanitarian concerns, economic concerns and theoretic concerns. The presence of humanitarian concerns comes from the ethical beliefs of many managers in the business environment that employees require an acceptable, agreeable and pleasant work environment. The economic aspects lie in the very reasons for the existence of the business organization and that is the increased performance that job satisfaction provides increases the