logo

Marketing Strategy of British Petroleum Assignment Sample

   

Added on  2021-02-18

19 Pages5956 Words114 Views
BusinessStrategy1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4Impact and influence of the macro environment on BP Oil Company and its strategy.........4TASK 2 ...........................................................................................................................................8Internal environment and capabilities of BP Oil....................................................................8TASK 3 .........................................................................................................................................13Porter’s Five Forces Model to evaluate the competitive forces...........................................13TASK 4 .........................................................................................................................................15Theories, concepts and models to interpret strategic planning for a BP Oil company........15CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................182

INTRODUCTIONMultinational corporations operating in complex and diverse political, economic,social and cultural environments have to improve, adjust and develop their marketingstrategies on a regular basis (Bamberg, 2009:46). Changing environmental factorscreate new conditions for their operating, which often require considerable and seriouschanges in strategic decision-making and positioning of companies. Inflexible and rigidfirms will cease to be competitive in the market every time changes occur (Fight,2006:85). The aim of the present report is to identify the past and present changes inmarketing strategy of British Petroleum, which have occurred under the pressure ofenvironmental factors. It is evaluated whether these changes were necessary, andfuture strategic options for British Petroleum are recommended.As per today's scenario wide factors are present within market which will affect businessoperations directly or indirectly. Business Strategies refers to working plan oforganisation to achieve its vision and give priority to objectives for successfullycompleting and optimal fiscal execution with its business model (Buckley, P. J. andGhauri, P. eds., 2015). British multinational oil and gas company (BP oil) is is world'smajor oil and gas company which is present in London. It operates in around 70countries with around 3.6 million barrels per day. But due to safety and environmentalincidents some workers died and also due to oil spills number of marine species havedied which resulted in health, economic and environmental consequences. For this theyhave made various strategies which have been discussed in following report. Thisreport is structured into four task. Task one consist of frameworks and impacts thatinfluence macro environment and its strategy as well as critically analysing strategic3

management decision. Moreover, Task two will consist on internal environment andcapabilities of an organisation and critically analysing McKinsey's 7 model. Additionally,Task 3 will cover, competitive forces of a given marketplace of an organisation withadoption of appropriate strategics to improve competitive edge in market position.Furthermore, task 4 will cover theories and models to devise strategic planning for anorganisation.TASK 1Impact and influence of the macro environment on BP Oil Company and its strategyStrategy refers to action taken by manager to achieve organisation's objectives andgoals. It can also be defined as set of directions made by organisation for its employeesto meet desired goal. Within BP Oil company it refers to utilizing and allocating effectiveresources within organisation to address present needs (Chu, KrishnaKumar andKhosla, 2014).It also considers actual and likely behaviour of resources to remove anykind of uncertain events which can have adverse impact on organisation. BP Oil havemade strategies in such a way that they can:Handle any kind of uncertain activities if they happen in future.Focus on long term operations, that includes new methods of production orenhancing business in other countries.Predict behaviour of customers, employees and competitors.Strategies are made in such a way that they provide roadmap to organisation. BP Oilhas defined its vision, mission and objectives and this is done by usage of effectivestrategies. They have ensured that strengths are maximised, and strengths ofcompetition is minimised. Mission of BP Oil: They focus on their activities to display fundamental, unchangingqualities- honest dealing, integrity, striving for mutual advantage, treating everyone withdignity and respect and contributing to human progress. They want to be recognised asgreat company in terms of competition and progress successfully. They have a beliefthat they can create a difference in world. BP Oil can achieve this by producing energythat is inexpensive, do not have negative impact on environment and is secure. 4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Strategies Assignment - BP Oil company
|16
|6240
|78

Business Strategy of BP Oil
|19
|6654
|285

Business Strategy - Assignment
|18
|6456
|73

Impact of Macro Environment on BP Oil Company
|17
|5807
|391

Introduction to Business Environment : British Petroleum
|12
|3838
|499

Business Strategy - British Multinational Oil & Gas Company
|12
|3539
|210