An Analysis of British Petroleum, 2023
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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This report analyzed British Petroleum also known as BP. The report aimed at analyzing the company’s position within the industry. The report also looked at the internal and external environment of the company, its organizational structure, and its competitors among others. The company will be analyzed using frameworks such as PESTLE, SWOT, Porter's Five Forces, VRIO, and generic competitive strategies.
This report provides a critical overview of the state of affairs faced by British Petroleum, a major oil and gas company. The report examines the various factors that affect the performance and profitability of the company, such as the fluctuations in the global energy market, the decline in consumer demand, and the environmental impacts of its operations. It also discusses the strategies that the company needs to implement in order to overcome these challenges and become a more agile and competitive organization in the industry.
A number of the challenges revealed by the strategic analysis below clearly show the company’s strengths and weaknesses, threats, and risk challenges which include major political factors affecting BP as well as key economic, social, technological, and regulatory trends impacting the oil and gas industry. Furthermore, it also exposed the various opportunities that are on the horizon for BP.
A SWOT, PESTLE, and VRIO analysis of British Petroleum answers some key questions which include; What are the three major challenges for the oil and gas industry? What is the strategy of British Petroleum International business? What are the strengths of British Petroleum? What are the threats to British petroleum? What are the weaknesses of British petroleum?
The report provides several suggestions for BP to maintain its growth and expansion in emerging markets, despite the difficulties and obstacles that may arise. The suggestions are based on the analysis of the current situation, the opportunities and threats, and the best practices of other companies in the industry. The report aims to help BP achieve its strategic goals and enhance its competitive advantage in the global market.
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An Analysis of British Petroleum, 2023 Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the strategic challenges and opportunities that BP faces in the global energy market
- Evaluate the financial performance and sustainability of BP, using various tools and frameworks such as ratio analysis, SWOT analysis, and ESG metrics.
- Apply the concepts and theories of strategic management to formulate and recommend possible solutions for BP's current and future problems.
1.0 INTRODUCTION
Founded in 1909, British Petroleum is classified among the largest international oil and gas companies in the world by its market cap and brand value. BP is a prominent brand in the fuel industry. The company operates in the provision of fuel for transportation to its customers as well as energy for heat and light, retail services, and petrochemical products for everyday items. The giant oil and gas company explores, produces, refines, transports, and distributes oil and natural gas. It also manufactures chemicals, plastic products, and synthetic fibers. As of 2022, the company had operations in 62 countries and 67,600 employees worldwide. BP generated an operating revenue of $241.4 billion in 2022 up from $157.7 billion in 2021
The oil and gas market has undergone significant changes in the period from 2020 to 2023, affecting the performance and position of British Petroleum (BP). This report will analyze how BP has responded to these changes by using various strategic frameworks and tools. The report will first conduct a PESTLE analysis to identify the macro-environmental factors that have influenced the oil and gas market, such as political, economic, social, technological, legal, and environmental issues. Next, the report will perform a SWOT analysis to assess the strengths, weaknesses, opportunities, and threats of BP in relation to its competitors and customers.
Then, the report will apply Porter's Five Forces model to evaluate the competitive microenvironment of BP and the attractiveness of the industry. Furthermore, the report will use the VRIO framework to examine the resources and capabilities of BP that provide it with a competitive advantage over its rivals.
Additionally, the report will discuss the generic competitive strategies that BP has adopted to cope with the changes in the market, such as cost leadership, differentiation, or focus. Finally, the report will provide a strategic overview of BP, covering aspects such as its financial performance, technological improvement, pricing strategy, and future prospects.
Key questions to answer include; What are the three major challenges for the oil and gas industry? What is the strategy of British Petroleum International business? What are the strengths of British Petroleum? What are the threats to British petroleum? What are the weaknesses of British petroleum?
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