This report focuses on the strategic analysis of Oil and Gas Company named as British Petroleum (BP). The paper aims to study the current strategic position British Petroleum. Moreover, it covers the structural determinants; environmental analysis and intensity of competition, competitive strategy and implications of strategies for future growth…
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This report provides insights about the present and future marketing strategies that are designed by the company as a result of pressure from several environmental forces. In this regard, the paper is primarily divided into different sections. In each section, strategic performance of BP has been measured through general analytical techniques which include PESTEL, SWOT, BCG Matrix and Ansoff Grid. At the end, recommendation, suggestion and future strategic option for BP are mentioned with respect to the analysis discussed above.
Strategic Analysis of British Petroleum
British Petroleum is considered as one of the largest international oil and gas companies. It serves its customers by providing them energy for light and heat, fuel for transportation purpose, petrochemical products and retail services for day to day use. In business realm, BP is widely known for its active participation through the approach of vertical integration in all the areas of fuel industry except extraction and excavation of oil and refining distribution power. Lately, BP has participated in increasing options for renewable energy resources. The reasons is the wide spread phenomenon which says that at the end of this century, all the fuel reserves and deposits will be wiped out (Britsh Petroleum, n.d.).
Operations of BP are spread in 80 different countries. Around 4 million barrels of crude oil are produced each year which make BP the market leader of its industry. Possessing the largest market share, BP is the first company which released the information that within the next twenty years, the future demands of energy is most likely to be increased by 50%. BP has also stated that 80% of this demand is expected to be met by fossil fuels (Britsh Petroleum, n.d.). The business model of BP is to create value across the entire value chain. The value chain starts from the process of exploration and ends at supplying fuel and energy related products to customers for everyday use. The objective of the company is to create value for supplies of energy and to shareholders in a responsible and safe way. They aim of the company is to be a safety leader, responsible corporate entity, world class operator and an excellent employer (BP Annual Report , 2011). The company operates two major business segments which include Refining and Marketing, and Production and Exploration. Through these business segments, company strives to focus on developing and producing required sources of energy and transforming these sources into products that can be useful to fulfill the needs of people. Projects of BP help in generating employment, tax revenues and investment in countries all over the world. The company is committed for demonstrating responsible behavior, building lasting relationship and meeting obligations. The head quarter of the company is located in London, U.K whereas the operations of BP are spread across US, Europe, Russia, Canada, Australasia, Asia, some parts of Africa and South America . Core Brands of BP The most renowned brands of BP include: Source: (BP Annual Report , 2011) Values of BP Values of BP are segmented into three broad categories: What BP does? Delivers energy and fuel to the world What BP stands for? BP states that the company is deeply concerned about how the energy and fuel are delivered to the world. What BP values? Safety Excellence Respect Teamwork Courage Mission Statement of BP The mission statement of BP states that: “Our function is to provide safe, efficient and environmentally responsible marine and shipping solutions for the BP group” The mission statement of BP signifies that the core functions of the organization are to provide efficient, safe
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