The major weakness of BP lies in its egregious environmental record. This culminated in the Gulf of Mexico disaster of 2010 that almost pushed the company to the brink of extinction.
It is recommended that BP…
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It should not concentrate solely on deep-water assets. The asset portfolio of the company should be diversified. It should have onshore assets, off-shore assets, natural gas assets, shale gas assets etc.
The business level strategy of BP should combine its cost leadership with product or process leadership. The process leadership can be achieved by having the most sophisticated technological processes in place.
The marketing strategy of the company should focus on improving the battered brand image of BP in the minds of the consumers and other stakeholders. The corporate and brand image of the company have become unfavorable after the Gulf of Mexico disaster.
The network level strategy of BP at this juncture should be one of cooperation and not of competition. BP should also pursue inorganic growth through mergers with smaller firms in the industry. Recently it bought a stake in the reserves of Reliance industries of India. Such a cooperative network level strategy will be suitable for the company.
The oil & petroleum industry includes all those firms and corporations that are involved in the exploration, drilling, movement & transportation, refinement and, marketing & distribution of oil & petroleum.
The importance of the oil & petroleum industry lies in the fact that oil accounts for a large portion of the world’s energy consumption. This proportion amounts to as high as 53% for the oil rich Middle Eastern nations, 32% for the nations of Europe and Asia, 44% for south and Central America, 41% for Africa and 40% for North America (Matthew Yeomans,2004).
The population of the globe consumes more than 30 billion barrels of oil per day. In terms of the dollar value of the turnover of all the companies involved in the various stages of the oil & petroleum supply chain, this industry is the largest in the world.
The ongoing political unrest in the Middle East and Western Africa will have an adverse impact where a significant proportion of the
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The research uses secondary data collection methods to develop a literature review of the oil industry, environmental impact and legal framework for the oil industry, and a case study method for evaluating BP on its vision, organizational structure, products, commitment to environment and its actual performance.
This will be achieved through analyzing concepts related to micro and macro economics on the various events. It will also involve analyzing them and establishing causal connections as well as making comparisons. Macro economic policies involve fiscal policy concerned with government expenditure, revenue collection and monetary policy according to Mankiw (2011).
The concepts attempt to analyze the domestic strengths and challenges together with the external’s opportunities and dangers. This analysis is applied prior to strategic planning, and executive decision-making are made. It forms the basis for identifying the best alternates that would propel improvements and developments in the field of criminal justice.
The country’s beginning and growth are attributable to the entrepreneurial skills of William Knox D’Arcy who obtained a concession to search for oil in the Persian Empire. Various challenges including political instability and poor infrastructure marred his venture leading to depletion of initial capital.
Arnold and Randall (2010) also supported the fact that personality, work psychology and motivational level among workers play vital role in directing their contribution to overall performance of organization. In such theoretical backdrop, the researcher has selected British Petroleum (BP) as the sample organization in order to understand inner meaning of the phrase, “The behaviour and attitudes of an Individual”, in context to real world business environment.
e oil spill is considered to be the largest marine calamity in history in relation to petroleum spillage and led to immense repercussions for Bp, the company that was running this particular oil rig. Apart from the environmental repercussions, the accident also resulted in the
The goal of the company is to be focused oil and Gas Company that offers value over volume. The goal is pursued through clear strategies and employment of distinctive capabilities. The company operates in over 80 countries, having its head office in London,
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