The BP oil disaster in the Gulf of Mexico is one of the biggest corporate disasters of all time. The energy giant – the fourth largest company in the world – has been grappling with the fallout of April’s deadly explosion and oil spill, which has had serious impact on U.S. Gulf Coast industries and the environment.

In this edition of Smith Business Close-Up with the University of Maryland’s Robert H. Smith School of Business, Shreevardhan Lele, Tyser Distinguished Teaching Fellow of Decision Sciences, discusses what responsibility BP has as a company in the oil spill.