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Introduction to Business Environment : British Petroleum

   

Added on  2021-01-02

12 Pages3838 Words499 Views
INTRODUCTION TO THEBUSINESS ENVIRONMENT
Introduction to Business Environment : British Petroleum_1
EXECUTIVE SUMMARYBritish Petroleum is a UK based oil and gas provider having operations at global level.The firm can face various issues related to the macro and micro environmental factors which arecapable of negatively impacting the business operations of the company. For eliminating suchissues, the company is using various tools such as swot analysis, pestle analysis etc. so thatproper strategies can be developed in order to eliminate the impact of micro and macroenvironmental factors. Also the company can determine their stakeholders by using thestakeholder mapping so that the power and interest of these stakeholders can be identified.
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Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4PESTEL Analysis (Macro environmental analysis)...................................................................4Five Forces Framework (Micro environmental analysis)...........................................................6Resource Audit..........................................................................................................................10SWOT Analysis........................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONBusiness environment is the sum of different external and internal factors which caninfluence the operations and activities of business organisation. These external as well as internalfactors should be considered by the management of the business firms in order to eliminate orreduce their impact on the performance and productivity of the business. Through thisconsideration, the management can also develop effective strategies for handling these factors sothat the growth of the firm can be enhanced. Taken company for this assessment is BritishPetroleum which is a key player of Gas and Oil industry in UK. This report will cover theanalysis of macro UK environment and its impact on performance of company. Further thisreport will analyse the micro environment of oil and gas industry. This report will also conductthe analysis of internal environment of British Petroleum along with the SWOT analysis.TASK 1PESTEL Analysis (Macro environmental analysis)It refers to a strategic tool and technique which can be used by the management of thecompany to determine the current market condition of a business and understanding marketdevelopment and decline (Tavitiyaman, Qu and Zhang, 2011). Also by using this model, BritishPetroleum can develop effective strategies and policies so as to eliminate the negative impact ofthe various macro environmental factors on the business operations of the company. Thisanalysis ensure that the performance of the organisation is aligned positively with the powerfulforces of change that are influencing business atmosphere. PESTEL analysis of BritishPetroleum is as following:Political- This factor includes trade regulations, antitrust laws, legal framework forcontract enforcement etc. In UK, the government authorities make change in the governmentpolicy time to time as well as due to the changes going on in the UK market due to the Brexit.Currently, the government have maximized the import tax by 3% which is influencing theoffshore oil industry in UK as the inflation has effected the various industries in UK. Cause ofglobal warming problems and climate change, the government generate strong barriers on oildiggings which affect negatively to the business of this organisation (Adeoye and Elegunde,2012).
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