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Business Strategy - Assignment

   

Added on  2020-12-26

18 Pages6456 Words73 Views
Business Strategy

Table of ContentsINTRODUCTION.........................................................................................................................1TASK 1........................................................................................................................................1Impact and influence which the macro environment has on BP oil company and its businessstrategies............................................................................................................................1TASK 2........................................................................................................................................5Evaluate the internal environment to assess the strengths and weaknesses of anorganization’s internal capabilities, structure and skill set using BP oil company................5TASK 3........................................................................................................................................8Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a givenmarket sector......................................................................................................................8TASK 4......................................................................................................................................11Theories, concepts and models, interpret and devise strategic planning for BP oil company11CONCLUSION...........................................................................................................................13REFERENCES..........................................................................................................................14

INTRODUCTIONBusiness strategy is considered as a set of decision as well as course of action that aidsentrepreneurs in accomplishing particular goals of the company. It is also referred as a masterplan 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 andCrowther, 2012). For this report the chosen company is BP oil which is a leading Britishmultinational gas and oil company. Its headquarters is in London, England. In this report task 1cover 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 planningfor given firm and also produce a strategic management plan.TASK 1Impact and influence which the macro environment has on BP oil company and its businessstrategies.BP oil company which is facing many challenges due to the change in the demand of allthe stakeholders and not getting the appropriate staff and essential resources. A set of variousstrategies should be adopted to tackle the enormous change in the demand and supply of oilfrom the various countries. As per the case scenario, BP Oil face various challenges in meetingwith demand of all stakeholders. There are various issues which includes reduction in staffmembers, availability of essential resources and other major function which create problem inthe company. Pestle analysis uses to identify the macro-environmental factors that impact anorganization in various ways (Blackburn, Hart and Wainwright, 2013). It works as a frame workor 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-relationof the company. 1

Political factor: Increase in pollution is the biggest factor which affects growth of a company onglobal basis. As per Gantman, Political factor of British multinational oil and gas companyinclude policy to trade, relation with other countries, influencing and many more. Change in thedemand of oil requirement or unsuitability may affect economy in various basis. Governmentshould identify the stability in their tax policy, proper education to their workforce, provide betterhealth care and even the infrastructure influence the operation of business. Positive impact: Government of various countries are imposing subsidiaries andanother sustainable and eco friendly energy so that economy get benefited. So, BP oil cancapable 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 itsworkers and consumers. For this manager of BP oil required to occur high expenditure inappropriate 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 andso on. Increase in the number of different energies may loosen down the value of BritishPetroleum 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 GDPand economic development. To monitoring the chain of all the economic stability, best way tohandle it by lowering down the value of its oil internationally, as to earn operational price fromthe different countries and can work on the stability of its market. 2Illustration 1: PESTLE Analysis(Source: PESTLE Analysis, 2019)

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