Consultancy Report on Sustainable Business Practices for British Petroleum

Managing
Sustainability

Contents
Part A) INTRODUCTION..........................................................................................................................3
MAIN BODY..............................................................................................................................................3
Part B) Demonstration of understanding and background to sustainable business operations.................3
Part C) What British Petroleum doing wrong?........................................................................................6
Part D) Critical evaluation of alternative business practices relevant to identified concerns...................7
Part E) CONCLUSION...............................................................................................................................8
RECOMMENDATION...............................................................................................................................8
REFRENCES..............................................................................................................................................9

Part A) INTRODUCTION
Sustainability is a highly valued business aspect in the current corporate world because of
increasing climate change awareness and demand from consumers to decrease negative
environmental impact and government actions to decrease carbon emissions (Biloslavo, Bagnoli
and Edgar, 2018). The business firm selected for this report is UK based energy company British
petroleum. This report looks at managing sustainability in British petroleum with specific focus
on the area of corporate social responsibility. Sustainability is discussed in this report in context
of experiences or potential experiences of the company. Sustainable business operations and
alternative ways of operating in sustainable manner are identified in this report. The primary
areas of concerns in relation to sustainability at British petroleum are identified in this report. In
addition to this, alternatives business practices to effectively manage sustainability are evaluated
in this report.
Overview of the company: British Petroleum was founded in the year 1909 and currently
operates in 70 international markets. The company offers energy services to consumers including
oil and gas distribution. The company is vertically integrated which means that the firm engages
in every business activity from extraction to selling of oil and gas products. This involves
extraction, refining, distribution, marketing, power generation and trading oil and gas products.
The firm has also invested in renewable energy sources including biofuels, wind power, smart
grid and solar technology.
MAIN BODY
Part B) Demonstration of understanding and background to sustainable business
operations
A business model is defined as a formal description of mechanics which is developed by
an enterprise for eating living and capturing value for its stakeholders (Bini, Bellucci and Giunta,
2018). Business firms in the current corporate environment are looking to increase sustainability
of their business models in order to face government legislation, regulators such as Environment
Agency and consumer demands. these forces have affected the views of business firms toward
sustainability. British petroleum is target of various sustainability organizations including
environment agencies and government regulators because production of oil and gas releases