BP Portfolio Essay Example | Topics and Well Written Essays - 3000 words

BP Portfolio - Essay Example In the next section, the study will shed light on issues regarding types of people that are important for the organization, problems being faced by employees in British Petroleum (BP) while negotiating with other people, evaluating impact of mentioned conflict on organizational success and recommendations for addressing people driven conflict situation in BP. According to Huczynski and Buchanan (2010) and Fuller and Marler (2009), organizational effectiveness depends heavily on its ability to manage performance, work attitude and personal attributes of employees. Fuller and Marler (2009) argued that neither do people in the organization perform equally well nor are they considered as equally important, due to difference in skill and competency level. Mullins and Christy (2013) also supported the fact that personality and work attitude of individuals need to match with performance expectation and vision statement of the organization in order to classify those individuals as important. ... According to Schuster’s (2012) report [Helmut Schuster is Group HR Director in BP], human resource department of BP follows five step model to select human capital who can give important and valuable contribution to business success of the company. These five steps can be defined as, 1- attracting best global talent through stringent qualification criteria, 2- providing training and developing skill competency among recruits, 3- deploying diverse succession planning to ensure steady supply of talent pool, 4- managing the motivation of individuals through transparent performance based reward system and 5- engaging employees in knowledge sharing and inclusive organizational culture in order to enhance their contribution level. BP wants certain skill set from the hired such as, strong academic background, ability to grasp technical and cross-functional knowledge effectively, ability to make decisions in contingent and critical situation, coordinating and communicating with other members while working in team and ability to deliver performance in a consistent manner (Schuster, 2012). As per the talent requirements of BP, three types of people may be most effective for the organisation. Type 1- this set of people can be classified as aspirer or individuals, who join BP for achieving materialistic objectives (British Petroleum, 2012). These set of people are ready to follow business objectives and performance of codes of British Petroleum, in non-hesitant manner, for achieving high career growth. As motivation of these employees is driven by financial outcome and career growth, hence it becomes difficult for British Petroleum to retain engagement level of these people in sustainable manner. Type 2- this set of

Explain the principle behind the concept of ''General Average''. What Assignment

Explain the principle behind the concept of ''General Average''. What are the essential elements of the 'York-Antwerp Rules' that define a 'General Average' act - Assignment Example In 1864 the York Rules were developed and this was followed with the Antwerp York Rules of 1877. The York Antwerp Rules were the first codification of the General Average. The elements of the York Antwerp Rules include a common danger, voluntary jettison and effort to save must be successful. General Average has many applications including in marine insurance. Current issues with regard to the application of the General average relate to Piracy. The bone of contention is whether general average can be applied in a case of piracy. There exist guidelines that categorically state a situation in which piracy can be covered by the general average. According to Tetley (2000), the principle of GA (General Average) dates to as far back as 3000 years ago. The Rhodian law that was in existence at around this time embodied the principle of general advantage. The principle read in part that in an effort to make a ship to be light, merchandise may be thrown overboard. It goes ahead to state that, that which has been sacrificed (given) for the benefit of all, then, it shall be restored by the contributions of every one. Currently, a record of the Rhodian law is inexistent. The Roman Law is the only source that captures the Rhodian law. The Roman law was captured, expanded and repeated in the Roles of Oleron. The first English decision that has been recorded in reference to the principle of general average was in the year 1799. The first American decision was in 1798 (Tetley, 2000). This was a maritime law concept both in practice and in origin and it had a very restricted application. With time, the evolution of commerce led to the use of general average as a form of marine insurance. There was sharing of losses and risks during maritime ventures. The cargo owner had a right to claim for losses. The ship owner was also allowed to make claims for compensation for the losses that could not be attributed to his fault. The parties made so many