Many alternatives are considered potential substitutes for fossil fuels. Discuss how could the company develop and improve further in respect to this? How about some humility, how about acknowledging the concerns of Louisiana residents who are seeing their livelihoods buried in the oily muck?
Advantage in mature business necessitates control, efficiency, replicable processes, expanded productivity and shortened fluctuation. Bargaining power of suppliers Suppliers can influence the future of firms by increasing prices or reducing the quality of the product or the services they offer.
The final stage includes the refinement of extracted oil and the distribution to the wholesale. Particularly, British Petroleum must focus on three specific dynamics. The reason why the U. Stop blaming uk for bp oil spill disaster: This demonstrates of how the company can be influenced by customer pressure and why the company must be able to satisfy customer expectations British Petroleum, The exit barriers are quite high due mainly to fixed costs relative to variable costs, the burden of the requirements of the sector, including job protection for its employees.
Stakeholder theory is not inimical to ethics; establishing an ethical culture within organizations with strong ethical leadership must be at the center of any stakeholder assessment. The value chain analysis enables strategists to spot what are the value-creating and value-destroying activities within a company.
The first stage of British Petroleum value chain is the exploration of potential areas to explore for oil and gas extraction, subsequently petroleum fields are valuated, developed and exploited. Improve the management of health, safety, security and environmental HSSE issues So as to achieve long-term survival, growth and prosperity, British Petroleum should develop and apply comprehensive, systemic, cultural and strategic competence around the issue of health and safety, security and environmental HSSE management.
Advances in strategic management, 1 1pp. Furthermore, the UK government seek not be involved in the incident, likewise even pretended to find a speedy solution to be the lowest impact to its stakeholders and its oil industry that implies BP mainly in the economial and relationships between nations.
Shifting sentiments in firm investment: In many cases, the strongest entities are those companies with developed know-how. It is the largest accidental marine oil spill in the history of the petroleum industry.
As for the media, it is crucial for an ambitious company such as British Petroleum to garner positive press support. However, governments around the world are adopting polices that seek to protect the planet by discouraging the use of fossil fuels.
Accruing awareness across mature and developing domains In changing business environments such as energy, inertia constitutes one of the most dangerous threats.
How about showing some concern for the workers that are being hired to clean up the mess? Its role was primarily mediator in the dispute of the guilt of the oil spill in the Gulf of Mexico with the intention of the most healthy solution of all.
Investment Analysis and Portfolio Management. Bargaining power of suppliers Suppliers can influence the future of firms by increasing prices or reducing the quality of the product or the services they offer.
European Management Journal, 19 5pp. In addition, they receive their reward from their share of the profits in the form of dividends British Petroleum, One of the main duties of the strategists and managers is to raise the level of interest of powerful stakeholders, to help them fulfil their anticipated role within the scaffolding of corporate governance Rothaermel, This seems to be an ineffective communication strategy.
British Petroleum faces daily challenges such as the need to increase production, the decreasing numbers of technical experts, the broad range of expertise needed for extended operations, the need to continuously renew the technology and the need to work in unstable or remote locations Grant, The nature of this complex number of suppliers provides the energy companies with a choice from a wide range of dealers, which drastically reduces their bargaining power.
BP should promote both: This involves managing plants in safe ways and providing people with information about emergency procedures British Petroleum, California Management Review, 52 4 Substitutes in the oil industry include biofuels and renewable resources.
The extent of this threat relies upon the barriers to entry and the responses of existing competitors Dess, Lumpkin and Eisner,p.
BP should manage expansion through mergers and acquisitions activity and strengthen relationships with contractors, vendors and joint ventures with other similar companies both rival and complementary. The power of the suppliers increases when they are small in terms of numbers, when they are more concentrated than the industry to which they sell, and when they provide crucial input to different industries for which substitutes exist Reilly and Brown,p.
This is mainly due to high barriers to entry, such as fixed up-front cost of investments linked to the activities performed by the oil industry, cost disadvantages for new entrants in production and transport of oil, and inability to control the production costs at each stage of the chain Dess, Lumpkin and Eisner,p.
Organisational and managerial innovations involve expanding supply in the face of expanding demand; standing up to competition; bringing in new technologies; administrating challenges related to HR limitations Teece, The consequences of this ambivalence were the two recent incidents in andnamely the Texas City Refinery explosion and the Deepwater Horizon disaster Andersen, Advantage in emerging business necessitates autonomy, innovation, search and embracing of variations.
Product differentiation is not yet crucial in creating competition since renewable energies are still in the developmental phase.Stakeholder Analysis on Bp. Assignment # 1 Stakeholder analysis on the British Petroleum oil spill disaster Stakeholder: UK and USA Government The British Petroleum (BP) oil spill in the Gulf of Mexico flowed unabated for three months in Stakeholder Identification and Analysis Techniques John M.
Bryson John M. Bryson Hubert H. Humphrey Institute of Public Affairs Humphrey Center University of Minnesota Minneapolis, MNUSA stakeholder support to create and sustain winning coalitions3 (Riker.
Assignment # 1 Stakeholder analysis on the British Petroleum oil spill disaster Stakeholder: UK and USA Government The British Petroleum (BP) oil spill in the Gulf of Mexico flowed unabated for three months in It is the largest accidental marine oil spill in the history of the petroleum industry.
This event affected individuals and groups. 1 Stakeholder Analysis: The Key to Balanced Performance Measures Robert M. Curtice Vice President, Performance Improvement Associates The Need for Balanced Performance Measures.
Stakeholder analysis on the British Petroleum oil spill disaster Stakeholder: UK and USA Government The British Petroleum (BP) oil spill in the Gulf of Mexico flowed unabated for three months in It is the largest accidental marine oil spill in the history of the petroleum industry.
This event affected individuals and groups, know as. The stakeholder analysis of British Petroleum will identify those entities that can influence or are influenced by the company’s objective and strategies (Freeman, ).
By analysing these groups it will be possible to identify, understand and prioritise the need of British Petroleum’s main stakeholders.Download