Welcome Ladies and Gentlemen of British Petroleum

Today, we are here to discuss the future of this company from a managerial standpoint. Over the years, BP has come under fire due to issues involving ethics, environmental hazards, and other legal issues. These issues combined with the recent oil spill in 2010 has really created a blemish on this company. A blemish we hope to be able to remove in the coming years.

As I mentioned, there have been numerous incidents involving this company and they have largely been ignored by management or swept up under the rug. We cannot continue operating in this manner and when there is an issue involving this company our management team must step up and make the situation right.

Our own shareholders were pointing fingers at the company at our annual meeting just last month. An excerpt from an article ran by the Guardian over in the United Kingdom stated "An attempt by BP management to move on from the Gulf of Mexico crisis that has dogged it over the last two years was undermined at a turbulent annual meeting when the oil group came under fierce fire from its own shareholders" (Insert Citation Here). For two years, this company has skirted the issue of the oil crisis and the company has attempted to praise the success of the cleanup. Meanwhile, the cleanup is not over as there will still be oil washing ashore along the Gulf of Mexico.

Our new direction will start with this company and its management team stepping up and taking responsibility for what happened just two years ago. From this point, we will be held accountable and take the necessary steps to ensure nothing like this ever happens again.

The oil spill of 2010 will be somewhat of a focal point for this presentation as the spill brought all of the companies woes and issues to a head.

What caused the oil spill is a combination of factors: in an article ran by Forbes these problems were highlighted even though our best attempts to hide them were made. "BP's management is currently experiencing the consequences of what appears to have been a "mostly working" approach to offshore oil drilling" (Insert Citation Here).

A "mostly working" approach to offshore drilling has enabled this company to skate by without dumping an astronomical amount of money into re-fortifying our wells and ensuring all of our equipment is in tip-top shape. In 2010, our "mostly working" approach came back to haunt us in the form of the oil spill we all know about.

As if the oil spill was not enough, we have come under scrutiny for our cleanup efforts, or lack thereof in 2012. As we all know, the government said BP was no longer responsible for the oil that washes up and the cleanup would now occur naturally as time progressed. This company and its management team will come up with a plan and means of employment to restart the cleanup effort and do everything in our power to rid the Gulf of Mexico of our oil. This cleanup effort will show the public and our shareholders that we are committed to making things right and correcting our mistakes.

Prevention efforts must be incorporated into the goals of this organization. Our executive management team must devise a plan that allows the company to investigate all wells owned and operated by BP and our affiliates. If by chance the foundations of the wells are weak, then we must re-fortify them. If our equipment is faulty or out-of-date, then we must repair and upgrade. Yes, this will cost the company millions upon millions of dollars but the amount of money spent will negate the effects of the oil spill and the amount of money this company lost in the ocean. The more we show the public as well as our shareholders we are committed to excellence, the easier the goals we have set out will be achieved.

Another focal point of this presentation is the management team we have here at BP. Sometimes managers become lax or complacent in how they run their departments. Other times, they face pressure from shareholders or hire ups to sometimes do the wrong things. As mentioned earlier, this company is notorious for sweeping issues under the rug and ignoring them. It is clear to me that this company is in need of some new managers. From executive management to our front-line management, semi-overhaul is needed. We have the people who need to be replaced in mind and we have their replacements in mind as well. This company will see a drastic change in 2012 and it starts now and will continue into the future.

I will briefly explain what each of the functions of management are and then go into how our current management team is not meeting the standards of this company.

One of the most important aspects of management is the ability to make decisions that will benefit the company and not hurt it.

From that initial building block we can