Report on Strategic Management ExxonMobil and British Petroleum

Added on - 21 Apr 2020

  • 21

    pages

  • 4413

    words

  • 13

    views

  • 0

    downloads

Showing pages 1 to 6 of 21 pages
Running head: STRATEGIC MANAGEMENTStrategic managementName of the studentName of the universityAuthor note
1STRATEGIC MANAGEMENTExecutive summaryThe aim of this report is to discuss about the issues and challenges being faced by two major oiland gas companies, ExxonMobil and British Petroleum. This report had discussed about theexternal and internal challenges being faced by both these organizations. Competitive strategieshad also been used in order to determine the effectiveness of the product portfolio of theirproducts in the market. This report concludes that, both ExxonMobil and BP are having hugemarket presence and capital currently in the global market. Moreover, the sector they areoperating is having huge potentiality for the future also.
2STRATEGIC MANAGEMENTTable of ContentsIntroduction......................................................................................................................................4Strategic planning of ExxonMobil...................................................................................................5Mission statement........................................................................................................................5Objectives....................................................................................................................................5Identification of the competitive advantages and disadvantages.................................................6Valuation of the resources.......................................................................................................6Rarity of the resources.............................................................................................................7Imitable nature of the resources...............................................................................................7Substitute of the resources.......................................................................................................8Analysis of the external environment..........................................................................................9PESTLE analysis.....................................................................................................................9Determination of the competitiveness of ExxonMobil..............................................................11Analysis of the internal environment.........................................................................................12Strategic planning of British Petroleum........................................................................................12Mission statement......................................................................................................................12Objectives..................................................................................................................................13Identification of the competitive advantages and disadvantages...............................................13Valuation of the resources.....................................................................................................13Rarity of the resources...........................................................................................................13
3STRATEGIC MANAGEMENTImitable nature of the resources.............................................................................................13Substitutes of the resources...................................................................................................14Analysis of the external environment........................................................................................14PESTLE analysis...................................................................................................................14Determination of the competition in the industry......................................................................15Analysis of the internal environment.........................................................................................16Competitive analysis......................................................................................................................17Identification of the challenges......................................................................................................18Identification of the opportunities.................................................................................................18Recommendations..........................................................................................................................19Conclusion.....................................................................................................................................19Reference.......................................................................................................................................20
4STRATEGIC MANAGEMENTIntroductionContemporary business organizations face fierce competition in the market due to thepresence of huge number of competitors in the market offering similar set of products andservices. Moreover, in the present era of globalization, major business organizations areoperating in the global market and thus, they have to face various external threats in differentregions. There are various challenges being faced by them internally also, which are important toidentify and mitigate in order to enhance the effectiveness of the organization to deal with thebusiness challenges. Thus, it is important for the contemporary business organizations to involvethe theory of strategic management in order to identify the potential threats and challenges alongwith the opportunities for them (Hitt, Ireland and Hoskisson 2012). This will help them to initiatethe strategies accordingly.ExxonMobil is one of the leading and most prominent oil and gas corporations in theworld. They are originated from United States and having headquartered in Texas. Currently,they are the largest company in the world in terms of the generation of revenue and second mostprofitable company among the fortune 500 companies (ExxonMobil 2017). Though, they are inthe forefront in the global oil and gas sector, however, there are various challenges being facedby them. One of the key challenges being faced by them is the competition being emerged in thissector.British Petroleum is another leading organization in the oil and gas sector. They areoriginated from United Kingdom having headquartered in London. They are considered as thetwelfth profitable company in the world (bp.com 2017). However, they are having theiroperations in more than 72 countries that make them one of the prime examples of multinational
5STRATEGIC MANAGEMENTorganizations. However, in term of the market challenges, they also face the issue of competitionin the global oil and gas sector. Moreover, with the increase in the competition in the market, theaverage profitability of these organizations is reducing. Hence, it is important for both theseorganizations to have effective strategies in place in order to retain the existing market sharealong with identifying the potentiality.This report will discuss about the external and internal challenges being faced by boththese organizations. Various elements and aspects of strategic management will be discussed inthis report. In addition, the business strategies being initiated by other players in the market willalso be discussed in this report. Competitive strategies will be used in order to determine theeffectiveness of the product portfolio of their products in the market. In accordance to theidentified issues, various recommendations will be discussed in this report.Strategic planning of ExxonMobilMission statementThe mission statement of ExxonMobil states that, they want to be the leader in the globalenergy sector by providing their customers quality products. Moreover, it also states that, theywant to be a committed player in the market by maintaining the heist ethical standards in theiroperation along with safeguarding the interests of their external and internal stakeholders.ObjectivesThe objective of ExxonMobil is to enhance their organizational excellence bymaintaining health and safety in the organization along with increasing the energy efficiency andeffective human resource management. Moreover, their objectives also include the future
desklib-logo
You’re reading a preview
card-image

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Download This Document