Strategic Management and Sustainability Assessment 2

Strategic Management
and Sustainability

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Main Strategies of the Company.................................................................................................3
Analyse internal business environment.......................................................................................5
Porter's Five Force Analysis........................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERNCES:..................................................................................................................................9
Books and Journals:....................................................................................................................9

INTRODUCTION
Strategic Management involves the management of business resources and materials to
attain the goals and objectives. It encompasses the activities of establishing goals, analysing the
internal business, analysing the competitive environment that management rolls out the plans and
tactics throughout the business (Valeri, 2021). As the business environment is dynamic in
nature, the companies are required to assess the changes happens in that surrounding and analyse
the plans for success and achievements. The following essay is based on the British Petroleum
Plc (BP Plc). It is a multinational oil and gas organization in British administration with
headquarters in London, England. In 1909, the company was established by William Knox
D'Arcy and Charles Greenway. It is found as the top most famous oil and gas “supermajors”. It
has allocated their business operations in all areas of oil and gas sector, consisting exploration
and extraction, power generation, refining, trading, marketing as well as distribution.
Additionally, it also has renewable energy interests in wind power, solar technologies, biofuels
and smart grid. It is also researched that as of 2018, BP Plc had business operations in around 80
nations throughout the world. The current assessment is based on the main strategies that have
been used by the BP Plc over the past 5 years. It is also analysed internal business environment
with the help of SWOT and VRIO frameworks.
TASK
Main Strategies of the Company.
Pestle analysis is an useful management tool that helps to analyse different factors in the
macro business environment. It involves factors such as political, economical, social, legal,
technological and environment factors (Bodrunov and Plotnikov, 2019). This analytical tool
allows BP Plc to makes plans strategically for any changes that need to be happened in its
organizational structure or just to facilitate it with the an overlook about several external
determinants that it has to take into account. Political factors have a great influence in the
determination of progress of the profitable oil company. Since the respective firm operates their
business in a range of locations around the globe, each location has its own political decisions. It
would consist tough employment regulations, enforcement of new tax laws and regulations,
competitive rules in different economies and excalating threats due to terrorism. These variables
either improve or deteriorate the business operations of the firm. It is found that in order to gain