Sunday, December 22, 2019

British Petroleum and Its Corporate Strategy - 1595 Words

British Petroleum and its Corporate Strategy Introduction The organisation environment is always changing and therefore it is essential that a structured, detailed and continuous analysis of the principal dimensions of the environment is made. In order to profitably satisfy customer needs, an organisation must understand its external and internal situation including the customer, the market and its own capabilities. Furthermore, it needs to understand and adapt to the dynamic and uncontrollable factors of the environment in which it operates. Corporate strategy is a tool whereby an organisation is able to achieve and sustain success. This report will examine the corporate strategies that British Petroleum (BP) adopts with specific†¦show more content†¦Political Factor President Barak Obama had intervened with the Deep-water Horizon spill in the Gulf of Mexico, stating a hefty $34bn ecological fine to BP according to Guardian (Webb and Pilkington, 2010) but the overall clean up and compensation scheme could reach $60bn ( £37bn) in the assumption that it does not be found guilty of gross negligence. However, the Telegraph reported that according to the rating agency Moody s analysts said â€Å"..we still do not know the total cost and penalties from the spill, but our analysis suggested the figure would be roughly $40bn-$60bn† (Mason, 2011) Economical Factor The renewable energy market is affected by the glooming economic crisis as the global demand for energy fell sharply (BP, 2010). It can however be assume that BP, and the oil industry in general is not greatly affected as much as other market due to the fact that oil is a commodity that everyone requires, regardless of its significance. Crude oil is not only use as a source of energy but likewise a raw material component for petrochemical products. Sociological Factor The Deep-water Horizon spill in the Gulf of Mexico has contributed to the consumer pattern of buying changes. A bid to boycott BP by encouraging consumers not purchasing from its petrol stations and purchasing BP products in America has become widespread in websites such asShow MoreRelatedOrganizational Planning Paper944 Words   |  4 Pagesis British Petroleum better known as BP. In this paper, the Author will attempt to go in depth about BP’s internal and external stakeholders, the company’s goals, mission, and vision, and at least one goal that can be accomplished through strategic and operational planning. The author will also conduct a SWOT analysis on BP, explain how these plans will achieve the related goals, and the effect of planning decisions on the internal and external stakeholders. BP,  also recognized as British PetroleumRead MoreConceptual Framework And Literature Review Essay1644 Words   |  7 PagesLITERATURE REVIEW 2.0 CONCEPTUAL FRAMEWORK This section of the research examines some conceptual underpinnings that are relevant and which provide the foundation and background to the study. 2.1.1 THE CONCEPT OF CORPORATE SOCIAL RESPONSIBILITY The concept of corporate social responsibility according to Steiner and Steiner (2000) in Nwaeke (2005) is the duty of a corporation to create wealth by using means that would avoid harm to protect or enhance societal assets. It is a corporationRead MoreBritish Petroleum: Analysis of the Different Management Leadership Styles1506 Words   |  6 Pagesand Motivation Abstract In this paper, we will analyze British Petroleum which is a well known multinational firm. We will also assess the working culture of Britain which will mainly focus regarding its workforce and then provide some motivational strategies which can be linked with better productivity. Finally we will recommend different management leadership styles that would best fit our chosen firm. Overview British Petroleum is a well renowned multinational oil and gas firm which hasRead MoreBp Pipeline Case Regarding Ethical Behavior And Decision Makin1709 Words   |  7 PagesBP Pipeline Case regarding Ethical Behaviors and Decision-Makin British Petroleum (BP) has been operating in the United States for decades. They have required most of their refineries through acquisitions in the med the 1900’s, which helped them to become one of the leading oil producers in the world. The acquisition of the Prudhoe Bay, Alaska refineries produces more than five percent of America’s oil. Therefore, it guaranteed BP’s economic goals by continuing producing oil in the United StatesRead MoreBp And Corporate Social Responsibility1584 Words   |  7 Pagesrecipe for success. British Petroleum best known as BP, a leading billion-dollar oil corporation is just one of the organizations who participates in corporate social responsibility (CSR). According to their code of conduct â€Å"we are committed to avoiding damage to the environment and related impacts on communities.† BP has put themselves on the line when the oil spill of 2010 occurred in the Gulf of Mexico, with consumers questioning their true meaning and intentions of corporate social responsibilityRead MoreManagement Planning Presentation Mgt 230 Essay947 Words   |  4 Pagesaccordingly 3. All employees should be aware of the company’s goals and work together toward them. 4. Plans and goals should be as detailed as possible to avoid crisis situations. 5. In addition, to ensure that your company avoids a crisis, multiple strategies and plans should be on hand. 6. Formulate step by step plans, with goals for each step in the process. 7.Be sure to include all employees in decision making and planning 8. Throughout the project, assess the progress and collect feedbackRead MoreStrategic Planning at BP1198 Words   |  5 Pagesï » ¿The planning function is where management seeks to design corporate actions that will help the organization meet its strategic objectives. The strategic planning process is usually step-based, in order to ensure that the organization takes a proactive approach to planning, rather than a reactive approach. The strategic planning process begins with setting the corporate mission and objectives as the first step. Most corporations will have a broad vision for the company and a mission that are expressedRead MoreThe Ethical Philosophy Of The United States1432 Words   |  6 Pages Organizations have disparate marketing strategies when selecting choices that affect stakeholders. Each approach touches the consumer and the Earth; it defines if the business is socially accountable for humanity. When the ethical philosophy a company follows is for universal ind ividual rights regardless of the outcome, it is moral idealism. In contrast, when only considering the greater good for the greatest number and appraising cost and the benefit of the choice it is utilitarianism. â€Å"If theRead MoreThe Anglo Persian Oil Company1555 Words   |  7 PagesWinston Churchill, who had taken a new role in British politics as First Lord of the Admiralty, came to the rescue. Churchill felt that Britain needed a dedicated oil supply. So Churchill looked to the British owned Anglo-Persian Oil Company. Soon after, the UK government became a major shareholder in the company. Eight weeks later the Great War had begun. During the war, the British government seized British Petroleum assets. Despite its name, British Petroleum brand was originally created by a GermanRead MoreThe Planning Function of Management at British Petroleum1241 Words   |  5 PagesBP organization direction Planning function of management British Petroleum (BP) has had their key successes from the various strategies and goals that the organization has which include the companys technology transformation and alignment of objectives to the analysis of its competitors and market conditions. This is what has helped to make BP a successful company. The company believes that the essence of its survival is its ability to gain strategic and competitive advantage which has helped

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.