Business Strategy Report

This report analyzes BP Oil Company's business strategy, covering PESTLE analysis, internal environment evaluation, Porter's Five Forces, and a strategic management plan incorporating SWOT and Tuckman's theory.

Business Strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1...........................................................................................................................................1
Impact and influence which the macro environment has on BP oil company and its business
strategies..............................................................................................................................1
TASK 2...........................................................................................................................................5
Evaluate the internal environment to assess the strengths and weaknesses of an
organization’s internal capabilities, structure and skill set using BP oil company................5
TASK 3...........................................................................................................................................8
Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a given
market sector........................................................................................................................8
TASK 4.........................................................................................................................................11
Theories, concepts and models, interpret and devise strategic planning for BP oil company 11
CONCLUSION.............................................................................................................................13
REFERENCES............................................................................................................................14

INTRODUCTION
Business strategy is considered as a set of decision as well as course of action that aids
entrepreneurs in accomplishing particular goals of the company. It is also referred as a master
plan which is utilised by management in order to secure a competitive position into marketplace,
carry on their activities, please clients as well as attain the expected business ends (Aras and
Crowther, 2012). For this report the chosen company is BP oil which is a leading British
multinational gas and oil company. Its headquarters is in London, England. In this report task 1
cover the impact and influence of macro environment on company and their business strategy.
In task 2, Analysis of internal environment to assess strength and weaknesses of firm. In task 3,
Analysis of porter's five forces model for evaluation of competitive positioning. At last in task 4,
Applying a range of theories, concepts and model, interpret as well as devise strategic planning
for given firm and also produce a strategic management plan.
TASK 1
Impact and influence which the macro environment has on BP oil company and its business
strategies.
BP oil company which is facing many challenges due to the change in the demand of all
the stakeholders and not getting the appropriate staff and essential resources. A set of various
strategies should be adopted to tackle the enormous change in the demand and supply of oil
from the various countries. As per the case scenario, BP Oil face various challenges in meeting
with demand of all stakeholders. There are various issues which includes reduction in staff
members, availability of essential resources and other major function which create problem in
the company.
Pestle analysis uses to identify the macro-environmental factors that impact an
organization in various ways (Blackburn, Hart and Wainwright, 2013). It works as a frame work
or a tool which puts all the factor according to verify the growth in respect of macro-
environmental or external marketing environment factor that have an impact on the inter-relation
of the company.
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Political factor: Increase in pollution is the biggest factor which affects growth of a company on
global basis. As per Gantman, Political factor of British multinational oil and gas company
include policy to trade, relation with other countries, influencing and many more. Change in the
demand of oil requirement or unsuitability may affect economy in various basis. Government
should identify the stability in their tax policy, proper education to their workforce, provide better
health care and even the infrastructure influence the operation of business.
Positive impact: Government of various countries are imposing subsidiaries and
another sustainable and eco friendly energy so that economy get benefited. So, BP oil can
capable to achieve sustainability for longer period with creating high quality of brand image.
Negative impact: Company required to maintain security as well as safety for its
workers and consumers. For this manager of BP oil required to occur high expenditure in
appropriate rules assuring their workers safety for maintain the company reputation.
Economic Factor: As per Benjamin, it is the factor that effects inflation rate, interest rate and
so on. Increase in the number of different energies may loosen down the value of British
Petroleum and its growth, as the demand of shifting towards the unique substitute in the market.
Formation of strategies is much more important as the BP oil earning has a big effect on GDP
and economic development. To monitoring the chain of all the economic stability, best way to
handle it by lowering down the value of its oil internationally, as to earn operational price from
the different countries and can work on the stability of its market.
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Illustration 1: PESTLE Analysis
(Source: PESTLE Analysis, 2019)

Positive impact: Different countries has supported BP oil by minimising tax as well as
inflation rate for economic development of countries. So, it is advantage for both company and
nation.
Negative impact: BP Oil have face issues in entering new market. Due to vast
regulations and required to minimise trading related to carbon emission. Also impacted through
high tax rate, interest rate and so on.
Social Factor: - According to Castaño, it is the most vital part which influence the company
growth because of change in the people behaviour by their religion, ethics, priorities etc. To
understand this in better way, company need to study about various social factor before making
business relation with other country. Before working on an agreement, BP oil should focus on its
social attitude, cultural issues and future growth of population as it may give them a prediction to
work according to their belief and norms.
Positive impact: BP oil are producing its products in such a way so that it assists them
to minimise emission of carbon that leads to develop positive impact over society and
surroundings.
Negative impact: In various nation, BP Oil has to face social problems like purchasing
and consumption pattern of individuals differ from country to country. For this, they required to
view the wants and requirements of consumers that will lead to enhance organisational
productivity.
Technological analysis: - According to Lerman, In Micro-environmental factors, technology
plays a vital role as it works with a research and development department (Duggan, 2012).
British Petroleum also focus on its working culture towards research and development and find
the creative innovation to make their stability for future market. BP has to take some good
tactical action and move towards the collaboration with some good universities for future
technological innovation.
Positive impact: BP Oil are developing positive impact into market because they are
adapting advance techniques which assists them to facilitate effective product quality to
consumers.
Negative impact: BP Oil manager required to has a good impact on competitive market
so that they can not lack behind just because of high level of competition between existing
marketplace.
Environmental factor: - As per the N. J. Bouskill, this factor involves those which influences
through surroundings. Working from the last five years, BP achieved a good level in reducing
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the environmental risks and it focused on saving water in various ways. It develops an image by
the unique projects in partnership such as improve in the people education, give people the best
quality of life and manage pollution. There are various environmental practices which directly
effect on BP Oil company such as CSR activity which help in maintaining ethical activities that
can be used for smoothly run of business operations and its functions. Like the firm has
complied with community investment programme to improve the condition of areas which have
been affected by activities of BP oil.
Positive impact: With the help of this BP Oil can improve its projects image through
CSR activity.
Negative impact: If company complied with the event of community investment so BP
OIL activities are affected as various investment plan have different criteria.
Legal Factors: - As per the Sorensen, it works according to the given rules and regulation which
country follows for their specific boundaries to take care of their employees’ health and safety.
Their interrelation from the other country is much more vital and working under their norms is a
responsibility for a company. BP works accordingly as it is expanding in a very large areas with
different countries involving itself in many fields from manufacturing of oil and gas, so the
company is focusing on the given norms. There is different legislation which are followed by BP
Oil company such as Employment act 1946, Equality Act 2010, Oil and gas Law and Regulation
2019 and so more.
Positive impact: This factors impact positively as if it follows all the legislations then it
develop a good image into market. So, profitability and productivity of BP Oil.
Negative Impact: It impact negatively as various norms of many country can not be
understand easily that effects the trading process.
SWOT
Swot analysis a tool which develop for an organisation to formulate the strategy in
finding out their strength, weakness, opportunity and threats. It regulates according to the
company's internal and external work and scenario (Kellermanns, Dibrell and Cruz, 2014).
Analysis according to BP oil is follow as: -
Strength: According to Piercy, it is explained as a innovative feature that differentiate company
from others.
 It placed as a world's third largest energy company and as a positioned of multinational
oil company.
 Achieving a unique brand loyalty in the market which works for covering more market
share across the globe.
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Through given strength BP oil can expand their business in order to garb more profit in market
at international level and do not have to do more promotions if they are launching any new
products or services.
Weakness: According to Giles, it shows those area where firm required to improve.
 Prices are increasing by which customers are moving towards different substitute as per
their convenience.
 Criminal charges which affects the image of company in market and put it in more
barriers by government policy.
These weakness gives negative impact on BP Oil as most of the customers move to
another substitutes which reduced their profitability and brand image get affected.
Opportunities: As per the Lanzott, these are refers as a advancement which generally develops
approach into environment through business capitalise in order to enhance profit in competitive
market.
 Investment from various countries especially in research of substitute methods of energy
such as solar energy, wind energy hydrogen, etc.
 Improvement in their price strategies and make the expansion of unique areas suitable
for BP future reserve for its growth globally.
Through these opportunities BP Oil can expand their businesses by producing various
substitutes and can grow internationally.
Threats: According to Danca, these are factors which has potential harm in company.
 There are various threats so company are mainly focus on care because of its explosion
in various pipelines which may affects many lives nearby it.
 Rising competition in the market and customers moving towards different substitute may
affect the income level of a company.
The above given threats reduce the brand loyalty and also impact the image of BP Oil
negatively as many lives of people get affected as well as effects its income level.
Directions, Objectives and Tactical actions on the above analysis of BP oil.
Strength should maintain for future as the brand value, otherwise it may affect by the
different weak point of a company as in BP oil, it has been listed by many criminal cases which
ruins the image of the company in market.
Company should focus on continuous evaluation of their work and changes into a
strength. It also maintains a customer segmentation for lowering down the value according to
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the consumer's pocket. Research and development also play a vital role when company
concern about future as it helps in developing innovation which gives strength for the company.
Stakeholder analysis
Stakeholder Mapping analysis to maintain the chart and reflects the exact interest and
involvement of a stakeholder in the company (Lehmann, 2016). It regulated the overall
stakeholder and maintain them in more priority to less priority manner which helps in finding or
understanding the key role of people in the company's growth.
BP oil has many stakeholders which regulates its working and on the basis of its
priorities it forms their norms and provide the overall mapping of the company in a specific
manner. This is process of assessing the system and potential changes as they are related to
relevant and interested parties. The stakeholders are taking accurate position where they are
gain high income and profitability which are required for an organisation. The stakeholders in
subjects are the key focus of firm in order to maintain sustainability in operation and attain
competitive advantage. This is providing information which is used to assess how interest of
such stakeholders should be addressed in project plan, policy and program.
Illustration 2: BP Stakeholder Mapping
(Sources: British Petroleum – Stakeholder Analysis, 2019)
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TASK 2
Evaluate the internal environment to assess the strengths and weaknesses of an organization’s
internal capabilities, structure and skill set using BP oil company
Internal environment of a company deals with the resource management such as human
resource, technology, monetary resources, physical resources and another one which represent
firm to implement strategy (Lueg, 2015). Internal environment the evaluated by BP oil through
using Mckinsey’s 7S Model. This Model is referring as a strategic tool which analyse company's
design of firm through looking at seven key internal elements that is strategy, structure, system,
shared values, style, staff and skills so that they can find out whether they are effectually
aligned as well as permit company to accomplish their goals. All these elements are divided in
two parts that is hard and soft elements. The two elements are mentioned below:
Hard elements: It focus on that matter through which company influence directly. In this
strategy, structure, systems are included (Malerba and et.al, 2015). All these elements are as
follows:
Strategy: According to Channon, it is a plan which is created by company in order to
accomplish sustained competitive advantage as well as successfully compete within marketplace.
BP Oil use Total Quality management in supply chain for delivering their different products or
services in all over world. So, it integrated their marketing operation so that they can find out
capable marketplace. Optimum utilisation of resources assists them to reduce their operation
costs. If it strategy is used properly then BP oil can deliver its product at suitable time period
and optimum utilisation of resources.
Structure: According to Caldart, this element presents the means units and divisions of business
are managed as well as involve the data about who is responsible to whom. BP oil manager are
executing vertical structure in order to make effective decision. It impact positively as oproper
structure reduced conflicts and work management are easy.
Systems: As per Binfor, these are the method as well as procedures of the firm that show the
day to day activities of enterprise and how decisions are taken. It is the area of BP oil company
which ascertain about business operations and here manager should more concentrate at the
time of organisational variations. BP Oil use formal system that is from deep sea to desert as
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well as from rigs to retail they deliver energy product or services to consumers all over world .
Customer relationship management system so that they stay update to date regarding changes.
Soft elements: These elements are representing in firm in conceptual manner and are mostly
identified in the organisational culture. Style, staff, skill and shared values comes under this.
These are mentioned below:
Skills: As per the author Gyepi-Garbrah, these are capabilities through which workers of
company do well. It also involves abilities as well as competences. BP oil company only perform
with management and leader who play crucial role in industry as a representative. They can
provide effective training also let them understand the guidelines of the company. Also trading
capabilities, communication skill, management skill, practical skills are used in the respective
firm. It impact positively as skills of BP Oil employees can perform effectively and attain
objectives of company.
Staff: According to Shaqrah, this element is related with the workers types and number of
employees required within organisation and how it will be hired, trained, encouraged and
appreciated. It is necessary that all staff of BP Oil should know its responsibilities and duty.
Along with this they must be capable for accomplishment. Issues which are occurred at
workplace are reported to senior authorities so that they can resolved it effectively and timely.
Style: According to Baishya, it presents the manner the firm is handle through higher
authorities, their interaction with others, actions they take and its symbolic value. It is the
management style of BP oil leaders. Leadership and management style are considered by BP
Oil so that task can be accomplished as per the procedures. This develop a good working
surroundings as well as a mutual understanding among employees. Leadership style which is
followed by respective firm is autocratic leadership with support to tall structure of firm. Syle
impact the Bp oil company in maintain healthy environment.
Shared values: As per the Sopajitwattana, these are considered as a standards and norms
which guide the behaviour of the workers and actions of the firm (McGrath, 2013). Value of BP
is based on five major things that are safety, respect, excellence, courage and one team.
Core value of BP oil in order to express the manner through which respective company
do their business and assist to translate mission into practical action:
Innovative: With the help of this a creative approach of workers and improvement as
well as utilization of cutting-edge technology. So, BP oil looking for break through solution for
their clients.
Impact: By sharing values BP Oil employees understand the rules and regulations of company
effectively and perform the task accordingly.
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For example: The use of Internal environment the evaluated by BP oil through using
Mckinsey’s 7S Model in BP oil company that is facing a challenge to meet stakeholders
demand. Also, employee’s management and necessary resource availability is a huge issue for
BP oil.
Mckinsey’s 7S Model
ELEMENTS
Strategy Distribution strategy
 BP Oil use Total Quality management in supply chain for delivering
their different products or services in all over world. So, it integrated
their marketing operation so that they can find out capable
marketplace. Optimum utilisation of resources assists them to reduce
their operation costs.
Structure
Systems Formal system that is from deep sea to desert as well as from rigs to retail
they deliver energy product or services to consumers all over world.
Customer relationship management system so that they stay update to date
regarding changes.
Skills BP oil company only perform with management and leader who play crucial
role in industry as a representative. They can provide effective training also
let them understand the guidelines of the company. Also trading capabilities,
communication skill, management skill, practical skills are used in the
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respective firm.
Staff It is necessary that all staff should know its responsibilities and duty. Along
with this they must be capable for accomplishment. Issues which are
occurred at workplace are reported to senior authorities so that they can
resolved it effectively and timely.
Style Leadership and management style are considered so that task can be
accomplished as per the procedures. This develop a good working
surroundings as well as a mutual understanding among employees.
Leadership style which is followed by respective firm is autocratic leadership
with support to tall structure of firm.
Shared values Value of BP is based on five major things that are safety, respect,
excellence, courage and one team.
Core value of BP oil in order to express the manner through which
respective company do their business and assist to translate mission into
practical action:
Innovative: With the help of this a creative approach of workers and
improvement as well as utilization of cutting-edge technology. So, BP oil
looking for break through solution for their clients.
TASK 3
Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a given
market sector
Porter's five forces is also referring as a competitive forces model which was introduced
by Michael porter. The aim of this model to ascertain the profitability expectation of market
(Mourdoukoutas, 2015). BP Oil analysis porter's five forces model so that they can evaluate the
competitive five forces of market sectors. All five forces are mentioned below:
Threat of new entrants:
At the time when barriers to entry industry are high, new businesses can hardly enter
market because of high cost as well as strong competition. So, the threats of new entrants in oil
and gas industry is low as there is high entrances barriers into that sectors. Investment
requirements; few firms which represents sector of oil and gas such as BP utilise expensive and
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heavy equipment’s like pumping trucks, etc. large capital investment expenditure is included like
infrastructure cost that is pipelines and so on.
Power of suppliers:
The bargaining power of suppliers is average as there is few numbers of suppliers as
well as also buyers like BP and another firm which represent oil and gas market sectors. In case
of BP, it is vertical incorporated within operation such as another player into industry and it
means that respective company can afford to facilitate few of its suppliers because of
sustainability in operations. Company must maintain good behaviour with customer so that they
can get advantage of that in appropriate manner.
Power of buyers:
Oil is considered as a trade goods and one oil firms is not different from another. It
leads buyers to go with low cost or good terms of contract. It will be pointed as medium as
buyers are more in numbers and can shift from BP consumption to another similar company's
products. At this stage decision of a buyer get influenced of they find good quality substitute in
effective or low price at a marketplace.
Threats of substitutes:
Substitutes threats is low and oil as well as gas industry substitutes is fuels like coal,
solar power and so on that is at developing phase. In case of BP have high production cost. Oil
is having more importance as this is not only utilise in fuelling cars but also applied to generate
plastics and another thing. Major part of transportation used oil as it is required to produce
electricity. So, the utilisation of alternative energy sources is not used much in comparison to oil
due to this development level as well as high production cost.
Competitive rivalry:
The competitive rivalry level is high, mostly the industry characterised as large firm that
generate low differentiated products. Along with this there is low new entrants’ threats in oil and
gas industry.
Ansoff Growth Matrix
British petroleum oil industries use Ansoff for growth matrix to focus on getting the exact
scenario which helps in making decision about the launching of new product in the market. It is
based on the suggestions by different heads of departments and review the growth of oil
company BP which works on market either the launch of a new product or to launch the same
product in the new market.
Taking BP as on the basis of Ansoff analysis, a company needs to focus on these
scenarios which is as follows:
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 Market Penetration: Company focuses on growth and increase the sale of existing
product in to the existing market across the world (Ritter and Andersen, 2014). The
objective is to increase the market share which help in maintenance too for the existing
product.
 Market Development: Adopting of different ways to sell the product that exist in the
market by doing new segmentation of market in different countries, updating innovative
feature in products, moulding the existing channel and make them more effective for
future growth. BP has covered more market by adopting new technology and adding
unique channels to expand in different market of the globe.
 Product Development: BP oil company's growth strategy and aims is to launch new
product with unique features in the existing market. The company focused on modifying
the existing product which are in demand with unique innovation in it and try to increase
the growth for future in market.
 Diversification: New product in new market which gives many challenges while doing
diversification as it experiences the new customers of the new countries or area
(Sanden, 2016). The BP company works on joint venture as a strategy in the new
market so to deal with the new production and marketing strategy according to the
existing company market knowledge.
So, BP can apply porter's five forces model to shows that oil and gas industry are major
players which are established combined and with resources of finance thus, competitive rivalry
and new entrants is high. The sector attractiveness creates buyers as well as suppliers’ power
is medium, and threats of substitutes are low. Therefore, BP oil should enhance their strategic
investment to increase production and utilise new markets. Company should also consider
recreating their value of brand. They should streamline their operations as well as production of
business in order to gain competitive advantage over their competitors. Also, from Ansoff matrix,
they choose diversification strategy so that they can develop new product into new market.
Therefore, BP Oil use the market development strategy so that they can sell its products
into existing market. By using various channels, new technology in order to maintain the
competitive edge as well as position into market.
TASK 4
Theories, concepts and models, interpret and devise strategic planning for BP oil company
From the above strategy, BP oil apply the diversification strategy. This is considered as
a risky strategy So, in order to secure future, it have invested many billion dollars in the
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development of economic manner so that they can generate renewable as well as alternative
energies. As there are few speculations which solar energy will be used more. Therefore, to
gain expertise into this energy sector production, BP have invested like a strong sum to regain
their losses because of oil spills.
Strategic planning plays a crucial role into strategic management (Spender, 2014). BP is
well constituted company in oil and gas industry. Here the porters five forces assist them to find
out the competitive environment as well as market situation of BP is facing. Its major
competitors are Chevron, solar into market place and engaged with aggregate production.
Through SWOT analysis the firm’s situation and market position were known that extracts both
environment of organisation (Yuliansyah, Gurd and Mohamed, 2017). It concentrates on
consumers as well as it believes in its bulk production over their competitors. Strategic
management plan is referring as a document that are utilise to communicate within organisation.
Such as setting priorities, focus energy and so on.
Mission: - BP oil mission statement is to provide quality products to customers which make
them loyal. They are seeking to display some unchanging, fundamental quality such as integrity,
honest, dealing and many more.
Vision: - Vision statement of respective company is to provide quality products and competitive
in marketplace and perform in effective manner.
Core Value: - BP oil core value if to provide good quality products and services to customers,
be competitive in market and become best company in operational and financial term.
Aim: To introduce new oil services and scheme in Russia with the new joint venture strategies
Objective: To Introduce new oil services and scheme in Russia with the new joint venture
strategies in order to enchaining 5% more market share.
Strategies – For BP oil, it is required to implement cost strategy in their new services that assist
them in sustaining in the market for a long run duration easily. Cost leadership and
differentiation both strategies can be beneficial for the firm but firm can capture consumer's
eyes easily towards their new services with the help of cost leadership approach.
SWOT analysis: -
Strength Weakness
 It is one of the famous and biggest
company in energy industry or sector.
 It is serving there high-quality
 There is negative perception of public
regarding company.
 Reduction in production of respective
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operations in worldwide market. company.
Opportunities Threats
 They can enhance price of fuel or
oil.There is demand of natural gas in
market so respective company can
operate in market.
 Competition in market is big threat of
company.
 Restriction and regulation of
government.
Tactics – These can be short term plan of that assist in attaining desired goals and
objectives of firm as -
 Cash management – It is most important aspects of strategic plan that can influence
overall strategic practices of a firm. Before implementing diversification approach, BP oil
requires to make tactics for funding so that the can introduce new services effectively at
new locations. In this regard, budgeting and cash management practices can be more
beneficial.
BP oil company use 5 stages of develop development strategy which help them in
developing effective and efficient team. By that respective company conduct their work in
appropriate manner and attain goal in appropriate way. It is use full for developing effective
team by analysing and evaluating skills and ability of staff which is required to accomplishment
of particular task. For this, firm can implement Tuckman theory of team development as -
 Forming stage – As per the Natvig, in a team employee belongs to different culture that
influence their philosophies for team working. This is the first stage of team development
in which autocratic leadership approach helps to conduct introduction between
employees in order to provide them information in regard their roles and responsibilities
while organisation introducing their new services in new market. This is applied in BP oil
to create an effective team by influencing individuals those who belongs to different
culture, beliefs and so on. So that new service can be provided to customer effectually.
 Storming stage – According to Stark, at this stage employees being to see themselves as
a part of team. Thus, servant leadership approach can be helpful for BP oil that aid
leader to analysing ideas and thoughts of individual properly. This stage applied in BP
oil company to know that all team members are contributing effectually or not. Through
this their ideas are to be examined in order to accomplish the task on time.
 Norming stage – As per Colombini, here team members starts working together for the
accomplishment of their targets. Thus, democratic leadership approach can be more
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impactful for BP oil for providing strategic direction to employees in regard their new
services that they can introduce in Russia. It is applied by BP Oil so that all the members
of team can initiate working together. So that new services can be launch in various
country successfully.
 Performing stage – As per McBride, at this stage situational and contingency leadership
can be more beneficial in terms of analysing current situation or identifying changes in
firm towards combine to provide synergy. This is applied in BP Oil to examine the
present condition of market and also view that all are performing effectively. With the
help of this they get to know find out the modification into situation.
 Adjourning stage – According to Pratt, this is the last stage of while project ends and
team disbands. With the implementation of such leadership theories BP oil can easily
build new team for their diversification approach. It is applied to know about the success
of plan and appreciate the employees effectiveness in context of introducing new
services. Through this BP Oil can launch its new services into new market successfully.
This theory is appropriate for respective company for developing effective team but it
also has certain limitations like it is time consuming because manager has to evaluate and
analysis employees’ skills and ability. When BP oil develop team for particular task behaviour of
employees get affected sometime. So, manager has to take decisions accordingly and in
effective manner.
CONCLUSION
Business strategy is is essential for company as it identify the opportunities as well as
trends for future. This assignment provides understanding about impacts and influences of
macro environment through PESTLE, SWOT AND stake holder analysis in task 1. In Task 2,
Internal environment is evaluated through Mckinsey’s 7S Model in order to assess the strength
and weaknesses. In Task 3, Porter's five forces are utilising to evaluate the competitive forces.
In task 4, strategic plan is develop which influence behaviour of staff at a particular workforce.
strategic plan is develop which influence behaviour of staff at a particular workforce by using
SWOT, Tuckman theory and so on.
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