British Petroleum: Strategic Analysis Report and Recommendations

This report provides a strategic analysis of British Petroleum (BP). It begins by examining BP's mission and vision statements, crucial for long-term planning and understanding its purpose within the market. The report then explores key trends and uncertainties facing the energy industry over the next decade, including data analysis and scenario generation to assess potential impacts on BP. Furthermore, it delves into BP's strategic capabilities, utilizing VRIO/VRIN criteria to identify its competitive advantages. The final section analyzes BP's business and corporate strategies, offering suggestions for improving its competitive edge within the global energy market, particularly in light of recent asset sales and market dynamics. The report utilizes academic journals and online resources to support its findings and recommendations.

Strategic Management

Table of Contents
INTRODUCTION ..........................................................................................................................1
SECTION 1 .....................................................................................................................................1
1.1 Mission and vision of British Petroleum ..............................................................................1
SECTION 2......................................................................................................................................2
2.1 Key trends and uncertainties facing the energy industry over 10 years................................2
SECTION 3......................................................................................................................................2
3.1 Strategic capabilities of BP...................................................................................................2
SECTION 4......................................................................................................................................2
REFERENCES................................................................................................................................3
..........................................................................................................................................3

INTRODUCTION
The aim of this study is to analyze the regular planning, monitoring, analysis and
assessment which helps firm to meet the goals and objectives. Further, it is essential for
businesses to plan its long term growth in order to achieve results. Here, in the current report,
mission, vision of British Petroleum need to be assessed. Further, evaluating the main trends and
uncertainties are required to obtain over the following 10 years (Johansen, 2012). Also, it assists
BP to analyze the strategic capabilities so that sustainable competitive advantage can be attained.
At the end, different suggestions have to be made regarding BP competitive advantage in the
global energy market.
SECTION 1
1.1 Mission and vision of British Petroleum
In this section the mission and vision of BP will be analyzed so that they can plan their
tactics for long term growth. The mission statement helps in identifying the purpose of BP and
its nature in order to analyze the business situation. Further, it is also essential for enterprise to
analyze the customer base of firm so that best results can be gained. Moreover, here the vision
statement of business will also be analyzed so that business can attain its goals and objectives for
the future and accomplish the set targets. Hence, firm is required to analyze both mission and
vision statement so that it can provide business a reason for its existence within market
(Leatherman and Leatherman, 2008).
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SECTION 2
2.1 Key trends and uncertainties facing the energy industry over 10 years
Here, it helps in discussing the recent trends and uncertainties that are being faced by oil
and gas industry over the last 10 years. Therefore, relevant data will be collected in order to
analyze the possible outcomes so that two possible scenarios can be generated within BP.
Further, it will discuss on the implication for applying strategy within BP (Flint, 2004).
SECTION 3
3.1 Strategic capabilities of BP
It will discuss the different strategic capabilities of BP by implementing different VRIO'
VRIN criteria so that best results can be attained. Moreover, through applying such tactic key
strategic capabilities helps in providing BP a sustainable competitive edge over other rivals.
Also, it states that strategic capabilities is the best way through which organization can attain
success (Vorhies and Morgan, 2003).
SECTION 4
In the last part of the study, it analyzes the business and corporate strategies applied
within BP to attain desired outcomes. For instance, BP has been shrunk after selling its assets
and now losses its worth from its rivals. Further, proper suggestions could be provided in order
to attain competitive edge within BP in global energy market (Kader, 2012).
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REFERENCES
Books and Journals
Flint, D. J., 2004. Strategic marketing in global supply chains: four challenges. Industrial
Marketing Management, 33(1). pp.45-50.
Johansen, R., 2012. Leaders Make the Future: Ten New Leadership Skills for an Uncertain
World. 2nd ed. Berrett-Koehler Publishers.
Leatherman, W. R. and Leatherman, D., 2008. Quality Leadership Skills: Standards of
Leadership Behavior. Human Resource Development.
Vorhies, D. W. and Morgan, N. A. 2003. A configuration theory assessment of marketing
organization fit with business strategy and its relationship with marketing performance.
Journal of marketing, 67(1). pp. 100-115.
Online
Kader, M., 2012. Strategic management. [Online]. Available through: <
https://www.open2study.com/courses/strategic-management >. [Accessed on 3rd December
2015].
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