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Business Strategy - British Multinational Oil & Gas Company

   

Added on  2020-12-29

12 Pages3539 Words210 Views
Leadership ManagementMechanical Engineering
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Business Strategy
Business Strategy - British Multinational Oil & Gas Company_1

INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Applying appropriate frameworks impact and influence of macro environment and itsstrategy.........................................................................................................................................1TASK 2............................................................................................................................................3P2 Internal environment and capabilities of an organisation......................................................3TASK 3............................................................................................................................................5P3 Evaluating competitive forces of an organisation..................................................................5TASK 4............................................................................................................................................7P4 Applying theories and models to devise strategic planning for an organisation....................7CONCLUSION................................................................................................................................8REFRENCES...................................................................................................................................9.......................................................................................................................................................10
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INTRODUCTIONBusiness strategy is the set of decisions as well as course of actions that helps theentrepreneurs in accomplishing their goals and objectives. In business, it is long term businessplanning which provide direction as well as destination. In the present report, British PetroleumLtd.,is chosen as the base company which is a British multinational oil & gas company. Itsheadquartered is located in London (Brewster, 2017). It is one of the biggest oil & gas companyat international level.The present report is going to analyse the impact as well as influence ofmacro environment on British Petroleum oil as well as its strategic policies. Along with this,McKinsey's 7S model will be use to analyse the strategic ability and its elements. For internalcapabilities VRIO model will be implemented and porters five force is conducted for competitiveanalysis. Furthermore, it includes application of various models and theories which will help inunderstanding and interpreting the strategic which will be helpful for the company. TASK 1P1 Applying appropriate frameworks impact and influence of macro environment and its strategyStrategy is the framework which give direction or pathway to the organisation for longtime period which result in accomplishing organisational goals and pre determine objectives.Moreover, strategy is related to integrating activity of company and utilizing or allocating thelimited resources within the company for meeting current objectives. In simple term, strategy iswell defined roadmap of an association which identify entire mission,vision and direction.Objective behind forming strategy is to maximise organisation strength for minimisingcompetitors strength.Role of strategy for achieving organisational goals and objectives – In relation ofcompany strategy play vital role in accomplishing goals and objectives. Manger of BritishPetroleum oil can adopt several strategies for achieving their predetermined objectives. Role ofstrategy are as follows :- Clarity in direction of activity – Business strategy provide direction or pathway for differentactivities conducted within British Petroleum oil. It is long term planning which designed withthe motive of achieving predetermined goals and objectives of company (Burlton, 2015). Ifstrategies are framed and implemented in proper manner then it will become clear direction formanager of British Petroleum oil for their day to day activity.
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Increasing organisational effectiveness – If business strategy are framed in proper manner thenit will result in enhancing effectiveness of doing day to day activity of British Petroleum oil.Because it provide proper guidance to manager as well as other organisational manager forperforming their work in better manner. In simple term it is guidelines on which staff memberswill work then it automatically result in enhancing effectiveness within organisation (Chang,2016). Different Strategic Direction – Strategic direction are the course of action which help inaccomplishing goals as well as objective of company. This plays very essential role in a businessenterprise in order to create a structure for internal responsibilities which will carry out by everydivision in proper manner. Along with this, it identifies vision, mission, issues and strategieswhich define core values in strategic direction establishment. Vision Vision of British Petroleum oil is to have best performance in themarketplace, in term of operating, corporate and financial.Mission Mission statement of the company is to bring honesty and integrity whiledealing with dignity as well as make effort for mutual advantage and towork for human advancement. StrategyThe strategic policies of British Petroleum oil is to become popular in oilindustry by offering less expensive offerings. For this, they adopt newand latest technologies which will producegoods and services effectivelyin various ways and provide assistance in meeting rising demand ofcustomers. IssuesBritish Petroleum oil was facing issue related to meeting demand ofstakeholders which result in loosing key workers. All these have directimpact on profitability of company and its performance withincompetitive marketplace (Chen and Jermias, 2014). Strategic planning techniques – It is the procedure of developing a strategy as well asplanning its execution. Every organisation frame business strategy for long term which can be afinancial year same as British Petroleum oil also. There are several techniques which use forplanning a strategy:- SWOT Analysis – It is an strategic planning tool which play important role in identifyingcompetitive position of company by analysing strength, weakness, opportunity and threats. Out
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