British Petroleum - Strategic Analysis

[Date of Submission]

British Petroleum - Strategic Analysis1

Introduction3

Context of Business Strategy4

Mission of British Petroleum4

Vision Statement of British Petroleum4

Goals and Objectives4

Core Competencies6

Issues involved in the Strategic Planning7

Various Planning Techniques8

Market Analysis8

Opportunities8

Threats9

Competitor Analysis10

Potential Entrants10

Bargaining Power of the Suppliers10

Bargaining Powers of the Buyers10

Threats of Substitute11

Gap Analysis11

Environmental Audit11

Macro Analysis12

Micro Analysis12

Significance of Stakeholder Analysis13

Conclusion13

References15

Introduction

British Petroleum also known as BP is counted amongst one of the largest and also one of the, most leading petroleum product manufacturers all around the world. The headquarters of the company is situated in the city of London, while the company operates in 29 countries all around the world. Although the company has been quite a lot of issues related to environmental safety causes and controversies relating to the green image of the company, but the company do have the potential and the ability to overcome all such controversies and allegations.

An important aspect of BP (British Petroleum) is that it operates in various parts of the world with much differentiated climatic and even many challenging conditions. The presence of vast diversity of locations and due to its operations in many different climatic situation handling countries, BP is constantly trying to manage the affects of its function on the environment, as of which it happens to face a lot of environmental issues.

BP also focuses upon the use of such technology that incorporates the features that help to reduce the effects on the environment in which the company is operating in, this not only helps to manufacture the company's products with a less amount of damage prevailing on the environment but it also will help to reduce the blames that have been placed on the company and which in turn helps to modify the company's green image in the market and in the eyes of its customers (Business Wire, N.D; BP, pp. 1-2).

Context of Business Strategy

Mission of British Petroleum

The mission statement of British Petroleum is to be a great company, which is competitively successful and can enforce a source of progress. The company believes that it can make a difference in the area in which it works in.

Vision Statement of British Petroleum

The vision of the British Petroleum is to become the leader in Oil and Gas industry for its sustainable development.

Goals and Objectives

The current goals and objectives of the company as according to the currently followed strategy by the company are described below:

The three major trends that can change the sustainability of the company, i.e. British Petroleum are the changes that are being experienced in the poverty trend, the climatic changes that are being observed all around the world and the change in the demographics of the companies. In order to satisfactorily comprehend to these challenges, the company has to manufacture such a type of energy that meets three basic objectives, which include security, sufficiency and sustainability. In order to do so, the company needs to work on the necessary innovation needed in the emergence of low carbon technologies.

Another objective of the company is to come in contact with ...