Business Strategy: Macro Environment & BP Oil Analysis Report

This report provides a comprehensive analysis of BP Oil's business strategy. It begins with an introduction to business strategy and its importance, followed by an examination of BP Oil's operations. The report then delves into the macro environment affecting BP, including political, economic, social, technological, legal, and environmental factors, using a PESTLE analysis. Stakeholder analysis is performed to assess the impact of various stakeholders on the business. The report also applies a SWOT analysis to evaluate BP's strengths, weaknesses, opportunities, and threats. Furthermore, the McKinsey 7S model is used to assess the internal alignment of the company's structure, strategy, systems, skills, style, staff, and shared values. The report concludes by summarizing the strategic directions of BP based on the application of these models.

Pearson BTEC Level 5 Higher National Diploma
Business (RQF)
Unit title:Business strategy
Student name:Bogdan Danilescu
Student Id:BD012016625BUS

Business strategy
Introduction on BP oil strategy
A business strategy is a combination of strategies, actions, and goals that enable a company
compete in a certain market. Business strategy aids companies in expanding globally and
overcoming barriers to performing cross-border commercial activity. With the use of a good
business plan, corporations can improve their business operations. Business strategy gives
an organization's future orientation a sense of direction. The business firm chosen for this
research is BP Oil. BP Oil is a multinational British oil and gas firm based in London that runs
service stations all over the world. The current paper examines the impact of the macro
environment on BP and analyses the company's internal strengths. In addition, in this paper,
Porter's five forces model is applied to BP. The strategic directions of BP are examined in
this paper using appropriate models.
Macro Environment
Political and social dependability are intriguing aspects to identify and measure in a way that
may be used as an econometric study. Political insecurity is linked to the insecurity of
governments, organizations, and gatherings inside a country. The compressed defeat of
existing force, or a high possibility of intended departure, from non-sacred topples d'état,
productive or otherwise, is a compelling example. Change is something that happens all the
time. Non-established expulsion may appear improbable in the United Kingdom. However, a
concentrated effort to replace the leadership is associated with vulnerabilities in the
approaches and, in exceptional situations, with threats to property rights. Property rights
are, in general, viewed as establishments of significant importance to the financial turn of
events, reducing instability and exchange costs associated with economic activities. Swelling
rates have been extremely variable up to this point. The finer points are as follows:
As a result of more cheaper gasoline and lower energy prices, the UK's rate of expansion
slowed to a new low in December, according to official figures. According to the Workplace
for Public Measurements, swell as measured by the Purchaser Costs File reduced to 0.5
percent a month ago, down from 1 percent in November. According to the ONS authority,
the last time year-to-month expansion was this low was in May 2019. The rate of rise in the
Retail Costs List (RPI), which was unexpectedly calculated, also continued in a downward
trend, falling to 1.6 percent from 2 percent.
Lately, the rate of expansion has shifted dramatically. Costs were increasing at a yearly rate
of roughly 5% in 2020, as the overall monetary situation began to take impact. In any event,
expenses were moving by roughly 1% on the CPI measure, and were genuinely reducing by
roughly 1.5 percent on the RPI measure, less than a year later. Costs were rising again by
late 2020, with the CPI at 5.2 percent, matching the all-time high achieved in September. RPI
increased to 5.6 percent, the highest annual rate since June 1991. Since then, both metrics

have slid back, with CPI now falling below the Bank of England's 2% goal rate for the first
time since November 2009.
BP oil was subjected to a PESTLE examination.
Political Economic Social Technology Legal Environment
Security of
future
energy
supplies
Present EU’s
high
dependence
on Russia
Increase in
energy prices
Iraq
Rising
domestic
energy
prices
Electricity
and petrol
prices
Technology
for reducing
Greenhouse
petrol
emissions
Carbon
capture
Taxation
and fuel
duty
(1993)
Affected
prices
Climate
change
Efforts to
reduce
greenhouse
gases
emissions
Politics of
climate
change
Greenhouse
petrol
emission
reduction
Political
instability
Demands
from India
and China
Marketing
of petrol
and
electricity
Choice of
suppliers
Processes of
burning oil
for heating
Renewabl
e
transport
fuel
Obligation
(2005)
Use of bio-
fuels
Infrastructure
costs due to
environmenta
l issues
Terrorist
activities
Investments
in Oil and
petrol
production
Government
assistance
with fuel
bills
Winter fuel
payment
Oil and petrol
production
methods
Sub-sea
technology
improvement
EU
Emissions
trading
scheme
Carbon
emission
allowance
s
Environmenta
l groups
Joint
approach to
green issues
Risk of
terrorist
attacks on
energy
supplies &
infrastructur
e
Investment
in
infrastructur
e
To ensure
sufficient
capacity and
flexibility
Climate
change and
energy
conservatio
n
Wide range
of
technological
development
s
Licensing
rounds for
the UK
offshore
oil
Increase in
popularity of
nuclear
power
Interest
rates,
exchange
rates and
inflation
rates
Home
insulation
Efficient use
of heat
Technologies
skills
Stakeholders analysis

The stakeholder matrix is another framework that BP Oil Company employs to analyse a
corporation's external environment and assess the impact of stakeholders on the business.
BP Oil Company's primary stakeholders include employees, the government, suppliers,
consumers, and suppliers.
Stakeholder analysis is a process of analysing a decision's impact on important social affairs
that is used in trade, adventure, and business. This data is used to determine how those
partners' interests should be addressed in a project plan, course of action, program, or
other action.
The affiliation's exercises, aims, and tactics can have an impact on or affect stakeholders.
Banks, bosses, agents, government (and its alliances), owners (financial supporters),
suppliers, affiliations, and the gathering from which the firm pulls its resources are only a
few examples of essential partners.
SWOT analysis
Strengths
BP has a variety of auxiliaries and retail brands, such as Amoco, ARCO, BP Express, BP
Associate, BP Travel Centre, AM/PM, Burma Castrol, and so on, that provide the company
with a diverse income portfolio rather than relying just on its energy sector.
In the oil business, BP Amoco has a strong brand that is steadfast.
BP's 'Past Petrol' trademark has served the company well, and it is now known for its
engagement in a variety of enterprises and areas.

In the aftermath of the new disasters and abuse by executives, BP has worked hard to
rebuild its image, focusing on corporate social responsibility as well as transparency and
more informative communication.
Weaknesses
The group has dealt with several oil spills and disasters that have resulted in fatalities and
significant environmental damage all around the world.
Organization officials were exploitative and inept in their handling of these disasters, further
tarnishing their image and necessitating massive sanctions, penalties, and expenditure to
assist those zones who had been injured.
The growing focus on environmental change and the decline in the use of petroleum
derivatives has forced the company to shift its focus to providing clean energy alternatives.
BP has closed many oil wells, resulting in significant reductions, many of which have
occurred during difficult economic times, reinforcing the brand image of the company as
wasteful and ravenous.
Because of these multiple blunders, the competition has been perceived as more capable
and enticing, putting BP in the position of having to make up for lost time with the market
leaders in their projects.
Opportunities
If it can invest resources into exploration and realign its strategy, the company has the
potential to become a global leader in a variety of alternative fuel and energy areas. These
new market opportunities include breeze, solar, and hydrogen.
With its elective fuel and energy opportunities, BP has the potential to expand into new
global sectors.
BP has the opportunity to cooperate with specific countries to provide solutions to
structural difficulties in order to transition to the use of clean energy options, positioning
the BP brand around development and environmental responsibility.
BP can focus on expanding the number of its auxiliaries outside of its petrochemical center
to increase revenue streams here.
Threats
Natural disasters may continue to be a threat if the company does not codify its corporate
social responsibility and place it at the forefront of its strategy, which includes reforming
workplace security issues to reduce processing plant blasts, oil breaks and spills, pipeline
consumption, and other environmental hazards.
If the organization does not handle these ecological difficulties and helpless security
practices, it will continue to face claims and punishments, which will have a negative impact
on the organization's supportability.

It is up against increased competition from companies like Shell and Chevron, which are
handling natural disasters better than BP and have improved their reputation.
The company also faces competition from the growth of certain alternative energy
companies that are providing the innovation and cost-effectiveness to facilitate a more
widespread shift away from petroleum derivatives, which might reduce BP's customer base.
Because of how it handled the organization's most recent major disaster, BP's tarnished
image continues to pose a threat to its future development and profit potential.
Changes in guidelines impact how BP can work together, therefore the global, local, and
neighborhood administrative conditions remain a threat.
A monetary threat exists, particularly in light of the world's volatile oil prices, supporting the
need to focus on the transition to other fuels for its energy needs.
Mckinsey's 7s Model:
Structure, technique, frameworks, abilities, style, personnel, and shared esteems are the
seven s. The model is frequently utilized as a valid assessment tool to examine and
distinguish changes inside an organization's situation.
The basic premise of the model, created in the 1980s by Tom Peters and Robert Waterman,
two consultants at the McKinsey and Friends directing business, is that there are seven
internal parts of an organization that should be modified if it is to be compelling.
The 7-S approach can be utilized in a variety of situations when having a plan perspective is
vital, such as helping BP:
BP Oil Organization's execution should be improved.
Examine the probable consequences of future developments at BP.
In the midst of a merger or acquisition, shift workplaces and strategy.
Choose the appropriate method for putting a recommended strategy into action.
Short Representation:
The McKinsey 7S model is an analytic administration tool for determining the strength of the
required level of fit between an organization's present and new procedures.
It's a management tool designed to help with the methodology execution cycle in the
context of authoritative change (Fleisher C and Bensoussan B, 2007).
Place of Origin:
The idea that construction will follow procedure is a common one in modern system theory.

McKinsey and Co. experts identified an indirect issue that contributed to their client's
inability to develop a comprehensive plan and collaborated on the McKinsey illustration.
The interrelationships between the seven components must be organized for effective
strategy use.
Foundation:
This model may be used by BP Oil Organization to determine four crucial pieces of
information:
Despite the standard method and structure, five unique portions include varied levels of
appropriateness.
The lines that connect each section recognize the segment's regular interdependence.
Recklessness to one or a combination of seven elements can be used to infer key
disillusionment.
Benefits and Characteristics:
The execution of BP's approach is highlighted.
The method and design were not the only factors that determined authoritative practicality.

A thorough examination of how the master should think about each of the seven forms and
how they convey.
The first model to integrate the "difficult" and "delicate" aspects of the task.
Limitations & Deficiencies:
It's possible that some fine-grained domains will be missed, resulting in gaps in the
framework's start or execution.
There is very little observable support for the model or its creator's decisions.
It's still difficult to accurately determine the degree of fit.
Analysts have a hard time explaining what has to be done to make the model useful.
The 7S is, for the most part, a static model.
Application of the Procedure Interaction:
For BP, the fundamental advance is to almost investigate each 'S'.
Each segment's most important accomplishment elements should be considered.
Can build a 7 X 2 network with the best line having key aspects of each 'S' that BP excels at.
The areas of each 'S' where BP is achieving awful examination would be in the base section.
There are essentially three further alternatives after constraining the important split
between the seven segments of crucial fit:
- BP can try to replace the necessary elements of each 'S' with the goal of ensuring that they
are strategically sound.
– It has the ability to adjust the approach to match the current presentation of the model's
other six parts.
A sensible choice is to reach a compromise between each decision as often as possible.
Resources and capabilities of the BP Oil Organization
Organizations, on the other hand, require abilities in order to make the greatest use of their
existing resources. Limits of this nature can be found in a wide range of structures. They
may be a request for a specific material development, unusual state extending capacities,
practical thing progression shapes, competent depository work, or a problem in bringing
new creation structures, for example. They also, in a broad sense, join organizational
boundaries.

Capabilities, on the other hand, are essentially more than this. They are unique resources
that are available to bosses and can be handed on in a variety of ways.
VRIO Analysis
Despite this, not all of a company's resources are equally and purposefully relevant. Certain
resources provide the company an advantage.
The VRIN ascribes to these, which can be discovered by concentrating on four basic
qualities:
Worth: Quality assets can be a source of competitive advantage. Keep in mind that not all
materials are equally accessible.
Extraordinary: Assets that are available to all rivals supply any basic high ground
inconsistently.
Fighting organizations will not be able to receive an optimal resource.
Non-substitutable: An perfect resource cannot be replaced with another.
The VRIO framework is especially beneficial for identifying and distinguishing the BP's
internal resources and their potential for use in achieving high ground.
For assessing an organization's resources, the VRIO structure is perplexing. It is a
supplement to the PESTLE evaluation technique, which is mostly utilized by sponsors to
investigate and screen the vast array of routine factors that influence the business. Business
experts can use VRIO to accurately assess a company's internal resources, its high ground
potential, and the potential outcomes of resource expansion inside key business zones.
One such business evaluation structure device is the VRIO System, which is used to
investigate BP's internal resources and limits. Jay B Barney's study 'Firm Assets and
Supported Upper Hand' began the evolution of this framework instrument in 1991. He
identified four characteristics in this book that add to an organization's resources to make it
a wellspring of sustained advantage. VRIN was the original name for this framework. In
1995, he refined VRIN structure and dubbed it VRIO in his later work, 'Looking Inside for
Upper Hand.' (2017, Rameez M.)
A crucial contraption employed to investigate inner business activities is a value chain
examination. It will most likely determine which operations are the most important to the
company (for example, the source of cost or competitive advantage) and which ones should
be improved to provide a more powerful benefit.
The fundamental value chain practices are as follows: Inbound Coordinations: obtaining and
storing unprocessed resources, as well as allocating them to collection as needed. Exercises:
mechanisms for converting pledges to completed items and organizations. C. Dekker (2013)

Benchmarking critical capabilities: Benchmarking is the process of identifying the differences
between what your organization is doing and what the best performing organization in your
industry is doing. One of three types of benchmarking, cycle benchmarking, examines
operational techniques. Execution benchmarking looks at item contributions, promotions,
and agreements to figure out how to raise compensation. These are, on the general, the
more advanced at the time in terms of degree and deliver excellent outcomes. Key
benchmarking takes a long-term perspective of the organization, keeping in mind future
combating association plans. Victoria Duff, Victoria Duff, Victoria Duff, Victoria Duff, Victoria
Duff, Victoria Duff, Victoria Duff
The primary advantages of benchmarking for BP
Cutting Work Expenses: Cutting work costs is an excellent scenario for benchmarking. For
example, a little gathering organization might think about how a top competitor employs
robots for a handful of basic plant limitations.
Improving Item Quality: Organizations can also utilize benchmarking to improve item
quality. Every now and then, experts will buy the things that their competitors are driving.
Increasing Deals and Benefits: An organization that uses benchmarking to improve its
abilities, projects, objects, and organizations may perceive the value in increased deals and
benefits. These modifications will almost certainly be noticed by customers. (2017, Suttle R)
Money-saving advantage investigation (CBA), also known as advantage costs assessment
(BCA), is an exact strategy for managing measure the qualities and flaws of judgments (for
example, in trades, works out, useful business essentials, or exercises hypotheses); it is
utilized to choose the best solutions.
Using BP as an example, apply Porter's Five Forces model to evaluate the competitive forces
in a certain market sector for an organization.
Michael E Porter of Harvard Business School created Porter's Five Forces of Cutthroat
Position Investigation in 1979 as a key framework for analyzing and evaluating the engaged
quality and position of a business connection.
This theory is based on the idea that there are five forces that pick the market's powerful
strength and pulling in nature. Porter's five forces might assist you figure out where you
have power in a business issue. This is useful in determining the quality or attributes of BP's
current powerful position, as well as the character of a location where BP Oil Organization
could choose to go.
The BP Oil Organization has established fundamental analysts who use Porter's five forces to
determine whether new objects or organizations are potentially profitable. By recognizing
where control sits, the hypothesis may also be utilized to identify areas of value (qualities),
improve weaknesses (shortcomings), and maintain a necessary separation from mistakes.

Strategies for BP Oil to improve growth
Market Entrance (Invasion)
The term "market invasion" refers to a development strategy in which a company focuses
on selling current products into current markets.
The goal of Market Invasion is to achieve four rules:
Maintain or expand your share of the current business – this can be refined through a
combination of strong assessing tactics, publicizing, bargaining progress, and possibly more
resources allocated to a single contribution.
Inside BP, there is a secure transcendence of advancement features.
Rebuild a brand by driving out competitors; this would necessitate a much more intense
limited-time campaign, supported by an evaluation framework designed to make the
market unpleasant for competitors.
Existing clients' usage can be augmented - for example, by adding devotion plans.
A framework for market entrance promoting is particularly concerned with "old news." The
company is concentrating on its core competencies and areas of expertise. It will very
certainly include extensive information on competitors and client requirements. As a result,
it is unthinkable that this technique will necessitate a lot of interest in new measurable
research. (D. Ward, 2018)
Market Improvement (Advancement)
Market headway is the name given to a development strategy by which BP tries to sell its
current products into new business areas.

Pushing toward this framework can be accomplished in a variety of ways, including:
New land markets, such as transporting the item to another country.
Estimates for new items or packaging, for example
There are new flow channels (for example moving from offering through retail to offering
using web business and mail orchestrate)
Various esteeming plans to attract various clients or create new market sectors
Item advancement
Thing progression refers to BP's strategy for introducing new products and services into
established business categories. This strategy may necessitate the development of new skills
and the creation of new products that can address existing business sectors.
A thing improvement technique is especially appropriate for a firm where the thing must be
separated in order to stay on track. The increasing complement is put on by a successful
thing progress method:
Examination, advancement, and improvement
Customer needs are divided into separate bits of information (and how they change)
Being the first to make a spectacular entrance
Because of the concentration of new business sectors, market progression is a riskier
strategy than exhibit entrance.
BP's new procedure to adjust their advantage the is and Public assumption
The main goal of BP Oil is to continue to develop products that are well-suited to the world's
evolving energy needs (The Organization, 2005). Following the oil slick incident in the Bay of
Mexico, the organization needed to re-foster its procedures and began implementing a wide
range of projects to improve the board's safety and well-being, as well as regain the public's
trust. The following are a few systems used by associations to balance their advantage with
public assumptions:
Safety and operational risks: The organization's S&OR capability is well-founded; it lays out
the requirements of associations for the board's security and operational risks. It also tries
to strengthen the efforts toward a more visible compliance with the entire functioning
administration framework. The organization must ensure that its working supervisors are
equipped as well as have the necessary commitment and responsibility to promote the
security culture. The association's hazard board exercises continue to improve the ease,
clarity, and consistency with which it oversees and reports the predicted danger. A new risk
group has also been established, with the primary goal of maintaining BP's overall risk
management framework (The organization, 2005).

Overseeing water and other liquids: BR offices and wells are designed, built, and operated in
such a way that the threat of breaking liquids and combustible gas entering underground
springs is minimized. Because a large amount of water is required to bore and construct gas
wells, the company must implement a large number of water-saving innovations in order to
reduce the amount of water used in penetrating and breaking the wells. In addition, new
technologies must be developed to allow for the reuse of water in a variety of applications
(Bay fisheries in decay after oil fiasco, 2012).
Reasonable course of events: This can be defined as progress that sufficiently addresses
current challenges and needs without compromising the demands of future generations.
The firm has made a few steps to reduce waste and conserve energy in the future. As a
result, BP has implemented energy-saving strategies that aid in the efficient use of energy
while also reducing imports (Grayson and Denyer, 2010). Advancement has a critical role in
improving the interaction and usage of resources, as well as developing innovative
approaches, reducing costs, and increasing effectiveness. According to the group, for
transportation purposes, power train advancements and ignition motors paired with biofuel
could be the most useful strategy to achieving a low-carbon future that is both safe and
secure. Furthermore, sustainable energy sources such as wind energy and biofuel play an
important role in addressing the challenges of limited energy and environmental change
over a long period of time (Hayward, 2010)
Task 4
Cost and value authority inside BP
What exactly is the 'Worth Initiative?' The value authority is where BP, as the pioneer in its
field, decides on the price of a product or an organization. This strategy may leave the
pioneer's competitors with no choice but to follow in its footsteps and match these costs if
they want a piece of the pie.
Generally Speaking Expense Administration Threats:
The cost authority imposes exorbitant costs on BP to maintain its position, which entails
reinvesting in current equipment, cruelly discarding outmoded assets, avoiding item offering
duplication, and being on the lookout for innovative upgrades. Costs are not altered as a
result of increased volume, and collecting all feasible economy of scale is not possible
without some basic consideration. M. E. Doorman, M. E. Doorman, M. E. Doorman, M. E.
Doorman, M. E
Mechanical change that refutes previous theories or learning is one of these dangers.
pantomime or their capacity to place assets in front workplaces make it easier for industry
newcomers or fans to learn;
Bowman's system clock's all-inclusive model
Bowman's Methodology Clock is a promotional model that is used to investigate an
organization's engaged status while taking into account the contributions of competitors.
Precipice Bowman and David Faulkner devised it as an extension of the three Watchman
ideas.

Strategic management plan
The following table will represent the best and appropriate strategic management plan
using BP Oil Company as an example.
Strategic management plan for BP Oil
Vision statement: To have the best competitive corporate, operating and financial
performance • To improve, and to be accessible, inclusive and diverse
Mission Statement: Mission: In all their activities we seek to display some unchanging,
fundamental qualities – integrity, honest dealing, treating everyone with respect and
dignity, striving
Organisational goals:
process, performance, and outcome goals
Organisations objectives:
To improve market standing, innovation, human resources sector
Macro analysis – PESTLE analysis
Political factor: suspected ties with uk government
Economic factor:offshore investment boost needed
Social factor:contribution of value of socity
Technological factor:advanced in seismic imaging technology
Legal factor:gulf of meximo spill
Environmental factor:crucial role in enabling a lower cabonfuture
Micro analysis – SWOT analysis
Strength: strong operational performance
Weakness: oil spill
Opportunities:growing demand of energy
Threats:cyber security concern
Estimated budget:
8,000.000 GBP
Action Plan
maintaining an absolute focus on safety and operational reliability, we intend to
continue to high-grade the portfolio, resulting in significantly lower and more
competitive production and refining throughput. bp will not seek to explore in countries
where it does not already have upstream activities.
Strategies /
objectives
Who is
required to
carry out this
By when Reviewed
date
Resources required
Digital and Manager 08.08.21 21.02.21

innovation – to
enable new ways
to engage with
customers,
create
efficiencies, and
support new
businesses.
marketing
services
1,500.000
Integrated
energy systems –
along and across
value chains,
pulling together
all bp’s
capabilities to
optimise energy
systems and
create
comprehensive
offers for
customers.
Manager
creativ
manager
07.08.21 22.03.21 1,500.000
Resilient and
focused
hydrocarbons –
maintaining an
absolute focus
on safety and
operational
reliability, we
intend to
continue to high-
grade the
portfolio,
resulting in
significantly
lower and more
competitive
production and
refining
throughput. bp
will not seek to
explore in
countries where
it does not
already have
upstream
activities.
Executive
officer
12.06.21 12.02.21 5,000.000

Conclusion
As a result of the oil spill in the Mexican Gulf, BP Oil has suffered various monetary and
ecological losses, as stated above by our task writing administration experts in the UK.
They've also used a variety of strategies to help them re-establish their image after suffering
various setbacks. Oil slick had become a once-in-a-lifetime event that had occurred
throughout the country's history (Eilperin, 2011). This had an impact on the business
association, but it also had an impact on the entire economy, society, workers, the local
community, clients, and neighborhood organizations. Despite the fact that the organization
has taken several steps to effectively resolve the situation, it has re-planned its exercises
and operations in order to regenerate the organization's image. This huge oil slick has also
prompted local residents to inquire about the organization in charge of preventing and
ensuring the marine and shoreline climate while conducting penetration operations. BP Oil
issued a heartfelt apology to the general public and promised to redesign environmental
well-being programs in the United States and around the world. It can also be deduced from
the preceding discussion that when an organization's action results in a disaster or threat to
human life, it will invariably harm the organization's reputation and prompt the need for
authenticity (De Gravelles, and De. Gravelles, 2011).
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