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Strategic Management - British Petroleum

   

Added on  2020-06-03

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Strategic Management
Strategic Management - British Petroleum_1
Table of ContentsINTRODUCTION...........................................................................................................................1Question 1........................................................................................................................................1PESTEL Analysis of British Petroleum......................................................................................1Question 2........................................................................................................................................3Analysing with the help of Five Forces analysis on how attractive is the world steel industry3Question 3........................................................................................................................................4a) The product or services of a business organisation and analyse growth/market share usingBCG Matrix.................................................................................................................................4b) Critically analyse the potential problems with the BCG Matrix............................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
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INTRODUCTIONStrategic Management is linked with formulating and implementing policies in order toachieve the set goals and objectives of business in effectual and planned manner. Strategies arevaluable factor as they provide directions to the employees at work place so they can easilyachieve their targets. The resources which are available in the economy should be utilised ineffective ways in order to attain growth and success in business. The undermentioned report isbased on British Petroleum which is leading oil and gas company and they are located in London(Chandes and Paché, 2011). They are mainly focused towards exploring their business,production effective and marketing of their activities. PESTEL analysis is the most importantfactor in order to analyse how company is having their operations in business environment andalso BCG growth share matrix are used in order to classify business activities.Question 1PESTEL Analysis of British PetroleumPESTEL Analysis are most valuable factors for business as it helps in analysing thepresent situations in the economy so that operations can be shaped accordingly. BritishPetroleum is dealing in gas and oil industry and the political, social, economic, technological andenvironmental factors which should be considered by firms are evaluated below as:Political Factors: BP are firms dealing in energy consumption, they are mainly targetingthe global competitors and the success of firms is that they are generating oil sources fromunderwater reservoirs. The world energy markets are becoming volatile as there are changes inthe requirements, instability in geopolitical factors and the most important there is instability inChinese markets. As there are high climatic changes so government has to take steps in order tomaintain sustainable forms of energy (CHUANG and Liao, 2012).Economic Factors: The developed nations like UK, Australia and Mexico the economy isnot having an impact on sustainability factors of British Petroleum. The valuable economicfactors are linked with the income level as these countries are having higher growth in incomelevel of people so people can afford more of oil and petroleum products. While on the other handthe developing nations are still facing many challenges and these can have direct impact onprofitability of firms. The economic factors which had to be focused by firms are exchange ratesof different countries, inflation rates and the interest rates at which company will sell itsproducts. The report indicates that economic growth between 2011 to 2019 will be 7 percent of1
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