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Report on Five Force Model and Supply Chain Management Pricing Strategies

   

Added on  2020-06-03

8 Pages2429 Words96 Views
BP - INDIVIDUALPROJECT
Report on Five Force Model and Supply Chain Management Pricing Strategies_1
Table of ContentsINTRODUCTION...........................................................................................................................3British Petroleum BP.......................................................................................................................3Different concepts related to industry.........................................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONIn the present business world positioning of any organization in the market is of greatimportance. It is required that effective strategies are being followed so that more competitiveadvantage is achieved. British petroleum is one of the largest oil and gas company which wasfounded in 1908. it was the first organization which founded oil in the middle east. Due toexcessive opportunities of growth in this sector distinct companies are entering in the sameindustry which has increase total competition (Lees, F012). Therefore it has become necessarythat such strategies are followed which are capable of helping organization in achieving thecompetitive advantage. The following report will talk about different concepts like porters fiveforce model, supply chain management pricing strategies which are adopted by the refereedorganization in order to be different from the other in the same field. Through the givendiscussion user will enhance his knowledge about how British petroleum is doing an outstandingbusiness and has a different image in the oil and gas industry.British Petroleum BPBP was founded in May 1908 and established as a subsidiary of Burmah Oil Companywith its headquarters in London, England. It is world's sixth largest oil and gas company and isworld's twelfth largest revenue maker. BP is also world's second biggest oil firm by marketvalue. This company operates in all areas of oil and gas industry including petrochemicals,power generation and trading, exploration and production, distribution and marketing. It alsoyields a huge amount of turnover for industries and remain attractive due to its market positionswith strong financial and earning growths. Due to this, company has to face tough competitionfrom its competitors like- Exxon mobile, Royal Dutch Shell, Chevron,Total (France), etc.Analysis of competition can be done with the help of Porter five force model. Threat of New Entrants- Some factors that affect new companies to enter oil and gasbusiness are- Huge capital required, increase of the internal competition within industry,big oil companies can spend in Research and Development to improve their technologies(Inkpen and Moffett, 2011). British Petroleum is a huge brand which is well establishedin the market of oil and gas company. Due to this brand name there is less threat of newentrants entering this type of market. For new beginners its not easy to enter and compete
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