Question

Management in the News In April 2010, the explosion of British Petroleum’s (BP) Deepwater Horizon oil drilling rig and the accompanying oil spill dramatically changed the external environment in which all oil companies operate. The explosion released more oil than any other accidental spill in history and had a huge impact on the waters and surrounding communities of the Gulf Coast. The conditions that led to the spill, the attempts to stop the spill, and the clean-up and aftermath of the spill prompted debates in the U.S. Senate, concern on Wall Street, and attention from companies all over the world.Match each oil spill event with a specific dimension of the general environment. Event Dimension BP stock prices falling 25% during the first month after the oil spill ______ Using deep-se submersibles to take pictures of the oil leak a mile below the surface of the water ______People moving from Louisiana to Oklahoma to avoid the effects of the spill ______

Answer 1

Event Dimension BP stock prices falling 25% during the first month after the oil spill. ECONOMIC.

The Economic dimension of the environment deals with production in the economy which means that it deals with business entities and the financial system. Dimension BP stock price falling therefore falls under her.

Using deep-se submersibles to take pictures of the oil leak a mile below the surface of the water. TECHNOLOGICAL.

The Technological dimension of the environment refers to anything related to the use of technology and using deep-sea submersibles to take pictures of the leak below the surface of the water will definitely fall under technology.

People moving from Louisiana to Oklahoma to avoid the effects of the spill. SOCIOCULTURAL.

Sociocultural dimension deals with human beings and how they relate with themselves and the environment around them. People therefore moving from Louisiana to Oklahoma will fall under here.