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Running head: STRATEGIC MANAGEMENT 1
Strategic Management
Student Name
University Name
Date
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STRATEGIC MANAGEMENT 2
Table of Contents
Summary .....................................................................Error! Bookmark not defined.
Introduction ................................................................................................................ 4
Current Business Level Strategy ................................................................................ 4
Cost Leadership Strategy ....................................................................................... 4
Differentiation Strategy ........................................................................................... 4
SWOT Analysis ....................................................................................................... 4
Strengths ............................................................................................................. 5
Weaknesses ........................................................................................................ 5
Opportunities ....................................................................................................... 5
Threats ................................................................................................................ 5
Environmental and Competitor Analysis ..................................................................... 5
PESTLE Analysis .................................................................................................... 6
Political ................................................................................................................ 6
Economic ............................................................................................................. 6
Social ................................................................................................................... 6
Technology .......................................................................................................... 7
Environmental Factors ......................................................................................... 7
Legal Factors ....................................................................................................... 7
Porter five competitive forces .................................................................................. 7
Threat of new entrants ......................................................................................... 8
Bargaining power of suppliers ............................................................................. 8
Bargaining power of Buyers ................................................................................. 8
Threats of substitute services and products ........................................................ 8
Rivalry between the Existing Competitors ........................................................... 8
Resources and Capability Audit ................................................................................. 8
VRIO analysis ......................................................................................................... 8
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STRATEGIC MANAGEMENT 3
Valuable ............................................................................................................... 9
Rare ..................................................................................................................... 9
Inimitable ............................................................................................................. 9
Organize to internment Value .............................................................................. 9
Recommendations ..................................................................................................... 9
Conclusion ............................................................................................................... 11
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STRATEGIC MANAGEMENT 4
Introduction
On April 14, 1909, BP was established as the "Anglo-Persian Oil Company, Ltd." In
1935, with activities in North and South America, Europe, Australasia, and Africa etc.,
it is one of the USA’s major renewable company. It also boasts a thriving alternative
energy economy, focusing on biofuels, solar technologies, and wind power, smart grid.
The operations of BP are categorized into three parts: "Upstream," "Downstream," and
"Renewables." BP aims to enhance with low yearly investment to about 5 billion dollars
per year in ten years while building an integrated assortment of low carbon expertise
comprising bioenergy and renewables. The report focuses on discussing the issues
faced by a renewable business segment of BP in the American market. The current
corporate strategy and business-level strategy are discussed in detail. After this, there
is a brief description of frameworks like external analysis, Porter's five competitive
forces, and internal analysis. PESTLE analysis is used to get a macro image of a firm
by examining several variables. VRIO analysis is used to evaluate the resources of
the company and rivalry benefit. The recommendation is also regarding how BP Plc.
can improve challenges in the renewable business segment in the USA.
Current Business Level Strategy
Business level strategy is a tool the company uses to manipulate its resources
to create rivalry benefits. The business strategy might not exist if a company has no
regulation of resources as these resources should be present to be regulated.
Cost Leadership Strategy and Differentiation Strategy
The current corporate strategy of the BP Plc is to set an innovative strategy that
would be a pivot to become an international company while focusing on solutions for
clients and delivering resources to an integrated energy organization. It includes
offering minimum prices for services and products in the renewable industry (Chofreh,
et al., 2021). It appeals to buyers who might like to spend the lowest price. The biggest
problem with this method is that it implies a reduction in profits for the company, as
the discounted or decreased costs may have been increased by the seller. It might not
work with high-end customers, and most of them don’t pay consideration to price. BP
Plc might select services and products tailored to customers' needs while enhancing
chances of fulfilling the needs of clients. BP Company is built on objectives combined
with beliefs regarding the future of altering customers' demands and energy systems.
The strategy also builds crossways focus zones of activity and differentiation sources
to strengthen value. Another strategy of the company is low carbon energy and
electricity (Leipold & Petit-Boix, 2018). It includes building scale in bioenergy and
renewables while finding early status in CCUS and hydrogen and structuring client gas
portfolio to counterpart low carbon energies.
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STRATEGIC MANAGEMENT 5
SWOT Analysis
The SWOT analysis of BP Company's business strategy looks at its “strengths”,
“weaknesses”, “opportunities”, and “threats”.
Strengths
The company is also focused on hydrocarbons and resilience. It also maintains
a complete emphasis on operational reliability and safety. It is also inclined to endure
a higher grading portfolio that results in competitive and lower refining and production.
BP Company would also not explore states where it does not have upstream actions.
Weaknesses
BP has not set a monetary frame to provision essential shifts that assign
resources to energy transition and low carbon actions (Lu, Huang, Azimi, & Guo,
2019). The combination of the financial and strategic frame must be created to deliver
a compelling and coherent investor proposition while introducing an equilibrium
between sustainable worth, profitable growth, and committed delivery for stakeholders
of BP Company.
Opportunities
The company has a chance to adopt differentiation sources in the coming
years. The differentiation sources used by the company to strengthen value include
integrated energy systems, digital and innovation, and partnerships with industries and
countries. Firstly, integrated energy schemes crossways value chains pull the abilities
of BP altogether to improve energy systems and create broad propositions for clients.
Secondly, digital and innovation are capable of engaging with clients, supporting
innovative businesses, and creating competencies. Thirdly, partnership with
industries, cities, and states figure their tracks to be net-zero.
Threats
BP Company might face competition from the development of notable
alternative energy organizations that are delivering affordability and technology to
inspire broader migration far from resilience on fossil fuels that might reduce the client
base of BP. Local, regional, and global regulatory surroundings would endure
remaining a threat as modifications in regulations affect how BP can perform business
(Tekic & Koroteev, 2019)
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STRATEGIC MANAGEMENT 6
Environmental and Competitor Analysis
The competitors and environmental analysis focuses on discussing the issues
facing the industry.
PESTLE Analysis
Political
Since BP functions in many parts around the globe, each region takes its
political decisions. This would count in it, but not be restricted to, the execution of new
tax laws, rising terrorism concerns, and challenging rules in many countries. These
elements can either help or hurt BP's business operations. To gain government favor,
BP has begun supporting political campaigns. In the United States, for example, it has
hired activists or lobbyists to preserve its political objectives (Thakur, 2021).
Economic
Economic factors have a significant impact on how "BP" operates and makes
strategic decisions. For example, the present global recession has reduced its profit
margin; interest rates have an impact on its cost of capital, and hence on its overall
expansion and development; and currency rates have an impact on the price of
exporting and importing energy solutions. Consumer trust in BP's products could be
eroded because of the company's allegedly flawed environmental policies. Improved
national income growth in other nations has increased sales of the company's
products, particularly solar panels, but workers in other regions have requested higher
compensation and increased operational expenses.
Social
The social environment represents tastes and demands, which fluctuate with
disposable and fashion income, and can present opportunities and risks to specific
businesses. According to the latest census study, the population of the United
Kingdom will grow in the foreseeable times because of high immigrant rates and an
aging population. Additional analysis revealed that energy consumption in the UK has
dropped by about 20% because of the aging population, which will have a massive
effect on the renewable in UK, particularly BP, due to its more significant market share
(Amernic & Craig, 2017).
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STRATEGIC MANAGEMENT 7
Technology
The technological problem of advancing current and worldwide energy products
of innovation is one that BP is confronting. A reliable IT system to track and control oil
flow has been developed because some of the company's oil is transported via long
pipelines. The corporation has a website that enables them to swiftly contact
customers regarding multiple problems. Furthermore, the firm is conducting research
to develop appropriate technology for the generation of alternative energy sources.
Environmental Factors
Different ecological factors can influence the profitability of BP Company, such
as changes in climate, weather, waste management in the gas and oil industry, and
provision and approaches for renewable energy.
Legal Factors
Legal associations and structures are not robust sufficient to secure the
company's rational asset privileges. The company must examine before entering
markets as it might lead to rivalry edge. Data protection, health, and safety law,
employment law, and discrimination law might affect BP Company (Alola, 2019).
Porter five competitive forces
According to Porter's competitive forces model, following are five forces that
have a direct impact on a BP’'s success in the marketplace.
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STRATEGIC MANAGEMENT 8
Threat of new entrants
There are new entrants in the renewable US industry that are bringing
innovation to the market of the United States. There are many innovative ways of doing
numerous things and putting pressure on BP Plc, which can be done by lessening the
pricing strategies, by doing a reduction in costs, and by providing innovative values
propositions to the consumers.
Bargaining power of suppliers
Almost all the organizations in the renewable industry purchase their raw
material from different suppliers. Suppliers in overriding positions can be reduced the
margin in BP company which can be earned in the US market.
Bargaining power of Buyers
Buyers in the USA seek to buy the best things offered in the US market. These
customers have the maximum ability to pursue, which helps improve offers and
discounts.
Threats of substitute services and products
If customers of BP Plc have precise requirements then the profitability of
renewable industry might suffer. The danger of renewable service or product is
extraordinary if it deals with a worth suggestion that is exclusively dissimilar from
current contributions of the manufacturing (Guan, et al., 2018).
Rivalry between the Existing Competitors
If the rivalry between competitors of BP Plc would be severe, then it would lower
charges and reduce the general profitability of the enterprise. The competitors of BP
Plc include Valero Energy, Chevron Corporation, and Exxon Mobile. BP Plc functions
in a downright forceful renewable innovativeness. This disagreement does take a peal
on the general long time effectiveness of the administration.
Resources and Capability Audit
VRIO analysis
The VRIO analysis is basically used in analyzing the internal resources of BP
Plc. Following are the analysis points of VRIO.
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STRATEGIC MANAGEMENT 9
Valuable
BP Company has proven a record of a reliable, safe track, and they are low in
cost. Low costs, safety, and reliability will underpin the growth targets inside the close
and longer-term. It indicates dependable coins float over the years. Against this
backdrop, BP is leveraging its enterprise's central proprietary generation to make the
extra enterprise green and extra competitive.
Rare
BP’s renewable sources are ranked in the pinnacle quartile metric compared to
the most current Solomon benchmarking study. This way, BP is turning in paramount
aggressive profitability through its refining manner and including a fee to its business.
Advanced Biofuels Technology is held through a small wide variety of players inside
the Energy Industry. BP presently is having second technology Biofuel era and
seeking to commercialize (Jewell, et al., 2018).
Inimitable
Renewable energy is quite complicated and requires excessive precision and
managing to generate a preferred blend of delicate merchandise as demanded
through the marketplace of the US. BP has a crew of comprehensive global
professionals in the petroleum discipline, and it additionally put money into its human
capital. Biofuel generation is relatedly new, and various research continue to be going
on. BP became one of the initiators inside the discipline and had a head that begins
compared to its peers. Biofuels generation isn't free to occur in the marketplace of the
US and has protected diverse patents.
Organize to internment Value
Renewable energy is a relatively technological process; a chain of techniques
and models (for example, one and two-dimensional chromatography, superior mass
spectrograph, optical spectroscopy, etc.) provides the subtle renewable sources. The
financial strength of BP Plc delivers support to the company for exploring chances for
innovative development and launching products. Financial strength has been a main
source for organization that focuses on innovation in offerings of renewable products
as well as sustaining continuous quality in USA.
BP Plc
V
R
I
O
Intellectual
property
It includes
focusing on
BP plc
possess
The company
has
The capability
of BP plc
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STRATEGIC MANAGEMENT 10
patent rights
that arise from
issues in
technical data,
material and
technical
schemes.
intellect asset
and
investment
comprising
engagement
in renewable
activities.
international
operations as
well as
presence in
USA.
would be
organized to
adapt distinct
external
environment
as well as
regional
culture that is
a rare capital.
It also permit
the company
to bring
improvement
in visibility,
brand recall
and
accessibility.
Employer
Compensation
BP plc grows
an
organizational
culture for
solving the
issues among
workers.
Innovation
results in higher
competitiveness
that also leads
to rivalry benefit
and also give
advantage to
the company in
marketplace in
long run and
short run.
The company
delivers
training to the
workers that
can aid to
attain desired
roles of job.
Training helps
to perform
best in
management
of renewable
resources.
Investment
and training
by BP plc in
people
ensures
strong
commitment
of
organization
and is
important
competency
in permitting
the company
to get benefit
by committed
and strong
workforce.
BP Plc
ensures
investment
and training in
people that
lead to robust
organizational
commitment,
and is
effective
competency in
permitting
renewable
energy to give
advantage by
committed
and strong
workforce.
Brand image
The company
has CSR
function and
also gets
engaged in
social
responsibility
activities.
Engagement in
CSR activities
permit company
to construct
non-
substitutable
competencies.
BP plc has a
unique brand
image and
has endured
effort as well
as higher
quality of
products.
Brand image
demonstrates
honesty and
trust and can’t
be copied by
competitors.
Brand image
is chief
source of
capability due
to uniqueness
and the
company also
relishes high
brand
identification.
Brand image
is an outcome
of long-lasting
brand
investment
and cannot be
replaced by
other
competitors in
renewable
industry.
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STRATEGIC MANAGEMENT 11
Recommendations
It is suggested that BP Company should develop, produce and turn crucial
sources of innovative and old energy into services and products. BP company should
do all of the things while they place values and importance on the atmosphere and the
company's stakeholders (Rahman & Ahmad, 2019). The company should also clean
its vision and strategic goals as the priority alternative to BP Company. The company
should aim to assimilate social, economic, and ecological sustainability correctly, and
strategic objectives should be set practically.
Conclusion
It is concluded that BP is a multilateral company and upstream and downstream
plans of BP Company are to affirm the commitment of the company to invest in growing
a dedicated portfolio of low-carbon business, including US wind power, carbon
capture, and solar power. The current business level strategy will help the company
focus on creating resources for an integrated energy organization that focuses on
delivering services or solutions to customers. The findings show that the challenges
related to renewable segment can be solved by implementing business level
strategies.
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STRATEGIC MANAGEMENT 12
References
Alola, A. A. (2019). Carbon emissions and the trilemma of trade policy, migration policy
and health care in the US. Carbon Management, 209-218.
Amernic, J., & Craig, R. (2017). CEO speeches and safety culture: British Petroleum
before the Deepwater Horizon disaster. Critical Perspectives on Accounting,
61-80.
Chofreh, A. G., Goni, F. A., Klemeš, J. J., Moosavi, S. M., Davoudi, M., &
Zeinalnezhad, M. (2021). Covid-19 shock: Development of strategic
management framework for global energy. . Renewable and Sustainable
Energy Reviews, 110643.
Guan, D., Meng, J., Reiner, D. M., Zhang, N., Shan, Y., Mi, Z., & Davis, S. J. (2018).
Structural decline in China’s CO 2 emissions through transitions in industry and
energy systems. Nature Geoscience, 551-555.
Showing Page:
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STRATEGIC MANAGEMENT 13
Jewell, J., McCollum, D., Emmerling, J., Bertram, C., Gernaat, D. E., Krey, V., & Riahi,
K. (2018). Limited emission reductions from fuel subsidy removal except in
energy-exporting regions. Nature, 229-233.
Leipold, S., & Petit-Boix, A. (2018). The circular economy and the bio-based sector-
Perspectives of European and German stakeholders. . Journal of cleaner
production, 1125-1137.
Lu, H., Huang, K., Azimi, M., & Guo, L. (2019). Blockchain technology in the oil and
gas industry: A review of applications, opportunities, challenges, and risks. Ieee
Access, 41426-41444.
Rahman, Z. U., & Ahmad, M. (2019). Modeling the relationship between gross capital
formation and CO 2 (a) symmetrically in the case of Pakistan: an empirical
analysis through NARDL approach. . Environmental Science and Pollution
Research, 8111-8124.
Tekic, Z., & Koroteev, D. (2019). From disruptively digital to proudly analog: A holistic
typology of digital transformation strategies. . Business Horizons, 683-593.
Thakur, V. (2021). Framework for PESTEL dimensions of sustainable healthcare
waste management: Learnings from COVID-19 outbreak. Journal of cleaner
production, 125562.
.

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Running head: STRATEGIC MANAGEMENT Strategic Management Student Name University Name Date 1 STRATEGIC MANAGEMENT 2 Table of Contents Summary .....................................................................Error! Bookmark not defined. Introduction ................................................................................................................ 4 Current Business Level Strategy ................................................................................ 4 Cost Leadership Strategy ....................................................................................... 4 Differentiation Strategy ........................................................................................... 4 SWOT Analysis ....................................................................................................... 4 Strengths ............................................................................................................. 5 Weaknesses ........................................................................................................ 5 Opportunities ....................................................................................................... 5 Threats ................................................................................................................ 5 Environmental and Competitor Analysis..................................................................... 5 PESTLE Analysis .................................................................................................... 6 Political ................................................................................................................ 6 Economic ............................................................................................................. 6 Social ................................................................................................................... 6 Technology .......................................................................................................... 7 Environmental Factors ......................................................................................... 7 Legal Factors ....................................................................................................... 7 Porter five competitive forces .................................................................................. 7 Threat of new entrants ......................................................................................... 8 Bargaining power of suppliers ............................................................................. 8 Bargaining power of Buyers ................................................................................. 8 Threats of substitute services and products ........................................................ 8 Rivalry between the Existing Competitors ........................................................... 8 Resources and Capability Audit ................................................................................. 8 VRIO analysis ......................................................................................................... 8 STRATEGIC MANAGEMENT 3 Valuable ............................................................................................................... 9 Rare ..................................................................................................................... 9 Inimitable ............................................................................................................. 9 Organize to internment Value .............................................................................. 9 Recommendations ..................................................................................................... 9 Conclusion ............................................................................................................... 11 STRATEGIC MANAGEMENT 4 Introduction On April 14, 1909, BP was established as the "Anglo-Persian Oil Company, Ltd." In 1935, with activities in North and South America, Europe, Australasia, and Africa etc., it is one of the USA’s major renewable company. It also boasts a thriving alternative energy economy, focusing on biofuels, solar technologies, and wind power, smart grid. The operations of BP are categorized into three parts: "Upstream," "Downstream," and "Renewables." BP aims to enhance with low yearly investment to about 5 billion dollars per year in ten years while building an integrated assortment of low carbon expertise comprising bioenergy and renewables. The report focuses on discussing the issues faced by a renewable business segment of BP in the American market. The current corporate strategy and business-level strategy are discussed in detail. After this, there is a brief description of frameworks like external analysis, Porter's five competitive forces, and internal analysis. PESTLE analysis is used to get a macro image of a firm by examining several variables. VRIO analysis is used to evaluate the resources of the company and rivalry benefit. The recommendation is also regarding how BP Plc. can improve challenges in the renewable business segment in the USA. Current Business Level Strategy Business level strategy is a tool the company uses to manipulate its resources to create rivalry benefits. The business strategy might not exist if a company has no regulation of resources as these resources should be present to be regulated. Cost Leadership Strategy and Differentiation Strategy The current corporate strategy of the BP Plc is to set an innovative strategy that would be a pivot to become an international company while focusing on solutions for clients and delivering resources to an integrated energy organization. It includes offering minimum prices for services and products in the renewable industry (Chofreh, et al., 2021). It appeals to buyers who might like to spend the lowest price. The biggest problem with this method is that it implies a reduction in profits for the company, as the discounted or decreased costs may have been increased by the seller. It might not work with high-end customers, and most of them don’t pay consideration to price. BP Plc might select services and products tailored to customers' needs while enhancing chances of fulfilling the needs of clients. BP Company is built on objectives combined with beliefs regarding the future of altering customers' demands and energy systems. The strategy also builds crossways focus zones of activity and differentiation sources to strengthen value. Another strategy of the company is low carbon energy and electricity (Leipold & Petit-Boix, 2018). It includes building scale in bioenergy and renewables while finding early status in CCUS and hydrogen and structuring client gas portfolio to counterpart low carbon energies. STRATEGIC MANAGEMENT 5 SWOT Analysis The SWOT analysis of BP Company's business strategy looks at its “strengths”, “weaknesses”, “opportunities”, and “threats”. Strengths The company is also focused on hydrocarbons and resilience. It also maintains a complete emphasis on operational reliability and safety. It is also inclined to endure a higher grading portfolio that results in competitive and lower refining and production. BP Company would also not explore states where it does not have upstream actions. Weaknesses BP has not set a monetary frame to provision essential shifts that assign resources to energy transition and low carbon actions (Lu, Huang, Azimi, & Guo, 2019). The combination of the financial and strategic frame must be created to deliver a compelling and coherent investor proposition while introducing an equilibrium between sustainable worth, profitable growth, and committed delivery for stakeholders of BP Company. Opportunities The company has a chance to adopt differentiation sources in the coming years. The differentiation sources used by the company to strengthen value include integrated energy systems, digital and innovation, and partnerships with industries and countries. Firstly, integrated energy schemes crossways value chains pull the abilities of BP altogether to improve energy systems and create broad propositions for clients. Secondly, digital and innovation are capable of engaging with clients, supporting innovative businesses, and creating competencies. Thirdly, partnership with industries, cities, and states figure their tracks to be net-zero. Threats BP Company might face competition from the development of notable alternative energy organizations that are delivering affordability and technology to inspire broader migration far from resilience on fossil fuels that might reduce the client base of BP. Local, regional, and global regulatory surroundings would endure remaining a threat as modifications in regulations affect how BP can perform business (Tekic & Koroteev, 2019) STRATEGIC MANAGEMENT 6 Environmental and Competitor Analysis The competitors and environmental analysis focuses on discussing the issues facing the industry. PESTLE Analysis Political Since “BP” functions in many parts around the globe, each region takes its political decisions. This would count in it, but not be restricted to, the execution of new tax laws, rising terrorism concerns, and challenging rules in many countries. These elements can either help or hurt BP's business operations. To gain government favor, BP has begun supporting political campaigns. In the United States, for example, it has hired activists or lobbyists to preserve its political objectives (Thakur, 2021). Economic Economic factors have a significant impact on how "BP" operates and makes strategic decisions. For example, the present global recession has reduced its profit margin; interest rates have an impact on its cost of capital, and hence on its overall expansion and development; and currency rates have an impact on the price of exporting and importing energy solutions. Consumer trust in BP's products could be eroded because of the company's allegedly flawed environmental policies. Improved national income growth in other nations has increased sales of the company's products, particularly solar panels, but workers in other regions have requested higher compensation and increased operational expenses. Social The social environment represents tastes and demands, which fluctuate with disposable and fashion income, and can present opportunities and risks to specific businesses. According to the latest census study, the population of the United Kingdom will grow in the foreseeable times because of high immigrant rates and an aging population. Additional analysis revealed that energy consumption in the UK has dropped by about 20% because of the aging population, which will have a massive effect on the renewable in UK, particularly BP, due to its more significant market share (Amernic & Craig, 2017). STRATEGIC MANAGEMENT 7 Technology The technological problem of advancing current and worldwide energy products of innovation is one that BP is confronting. A reliable IT system to track and control oil flow has been developed because some of the company's oil is transported via long pipelines. The corporation has a website that enables them to swiftly contact customers regarding multiple problems. Furthermore, the firm is conducting research to develop appropriate technology for the generation of alternative energy sources. Environmental Factors Different ecological factors can influence the profitability of BP Company, such as changes in climate, weather, waste management in the gas and oil industry, and provision and approaches for renewable energy. Legal Factors Legal associations and structures are not robust sufficient to secure the company's rational asset privileges. The company must examine before entering markets as it might lead to rivalry edge. Data protection, health, and safety law, employment law, and discrimination law might affect BP Company (Alola, 2019). Porter five competitive forces According to Porter's competitive forces model, following are five forces that have a direct impact on a BP’'s success in the marketplace. STRATEGIC MANAGEMENT 8 Threat of new entrants There are new entrants in the renewable US industry that are bringing innovation to the market of the United States. There are many innovative ways of doing numerous things and putting pressure on BP Plc, which can be done by lessening the pricing strategies, by doing a reduction in costs, and by providing innovative values propositions to the consumers. Bargaining power of suppliers Almost all the organizations in the renewable industry purchase their raw material from different suppliers. Suppliers in overriding positions can be reduced the margin in BP company which can be earned in the US market. Bargaining power of Buyers Buyers in the USA seek to buy the best things offered in the US market. These customers have the maximum ability to pursue, which helps improve offers and discounts. Threats of substitute services and products If customers of BP Plc have precise requirements then the profitability of renewable industry might suffer. The danger of renewable service or product is extraordinary if it deals with a worth suggestion that is exclusively dissimilar from current contributions of the manufacturing (Guan, et al., 2018). Rivalry between the Existing Competitors If the rivalry between competitors of BP Plc would be severe, then it would lower charges and reduce the general profitability of the enterprise. The competitors of BP Plc include Valero Energy, Chevron Corporation, and Exxon Mobile. BP Plc functions in a downright forceful renewable innovativeness. This disagreement does take a peal on the general long time effectiveness of the administration. Resources and Capability Audit VRIO analysis The VRIO analysis is basically used in analyzing the internal resources of BP Plc. Following are the analysis points of VRIO. STRATEGIC MANAGEMENT 9 Valuable BP Company has proven a record of a reliable, safe track, and they are low in cost. Low costs, safety, and reliability will underpin the growth targets inside the close and longer-term. It indicates dependable coins float over the years. Against this backdrop, BP is leveraging its enterprise's central proprietary generation to make the extra enterprise green and extra competitive. Rare BP’s renewable sources are ranked in the pinnacle quartile metric compared to the most current Solomon benchmarking study. This way, BP is turning in paramount aggressive profitability through its refining manner and including a fee to its business. Advanced Biofuels Technology is held through a small wide variety of players inside the Energy Industry. BP presently is having second technology Biofuel era and seeking to commercialize (Jewell, et al., 2018). Inimitable Renewable energy is quite complicated and requires excessive precision and managing to generate a preferred blend of delicate merchandise as demanded through the marketplace of the US. BP has a crew of comprehensive global professionals in the petroleum discipline, and it additionally put money into its human capital. Biofuel generation is relatedly new, and various research continue to be going on. BP became one of the initiators inside the discipline and had a head that begins compared to its peers. Biofuels generation isn't free to occur in the marketplace of the US and has protected diverse patents. Organize to internment Value Renewable energy is a relatively technological process; a chain of techniques and models (for example, one and two-dimensional chromatography, superior mass spectrograph, optical spectroscopy, etc.) provides the subtle renewable sources. The financial strength of BP Plc delivers support to the company for exploring chances for innovative development and launching products. Financial strength has been a main source for organization that focuses on innovation in offerings of renewable products as well as sustaining continuous quality in USA. BP Plc Intellectual property V It includes focusing on R BP plc possess I The company has O The capability of BP plc STRATEGIC MANAGEMENT Employer Compensation Brand image 10 patent rights that arise from issues in technical data, material and technical schemes. intellect asset and investment comprising engagement in renewable activities. international operations as well as presence in USA. BP plc grows an organizational culture for solving the issues among workers. Innovation results in higher competitiveness that also leads to rivalry benefit and also give advantage to the company in marketplace in long run and short run. The company has CSR function and also gets engaged in social responsibility activities. Engagement in CSR activities permit company to construct nonsubstitutable competencies. The company delivers training to the workers that can aid to attain desired roles of job. Training helps to perform best in management of renewable resources. Investment and training by BP plc in people ensures strong commitment of organization and is important competency in permitting the company to get benefit by committed and strong workforce. Brand image is chief source of capability due to uniqueness and the company also relishes high brand identification. BP plc has a unique brand image and has endured effort as well as higher quality of products. Brand image demonstrates honesty and trust and can’t be copied by competitors. would be organized to adapt distinct external environment as well as regional culture that is a rare capital. It also permit the company to bring improvement in visibility, brand recall and accessibility. BP Plc ensures investment and training in people that lead to robust organizational commitment, and is effective competency in permitting renewable energy to give advantage by committed and strong workforce. Brand image is an outcome of long-lasting brand investment and cannot be replaced by other competitors in renewable industry. STRATEGIC MANAGEMENT 11 Recommendations It is suggested that BP Company should develop, produce and turn crucial sources of innovative and old energy into services and products. BP company should do all of the things while they place values and importance on the atmosphere and the company's stakeholders (Rahman & Ahmad, 2019). The company should also clean its vision and strategic goals as the priority alternative to BP Company. The company should aim to assimilate social, economic, and ecological sustainability correctly, and strategic objectives should be set practically. Conclusion It is concluded that BP is a multilateral company and upstream and downstream plans of BP Company are to affirm the commitment of the company to invest in growing a dedicated portfolio of low-carbon business, including US wind power, carbon capture, and solar power. The current business level strategy will help the company focus on creating resources for an integrated energy organization that focuses on delivering services or solutions to customers. The findings show that the challenges related to renewable segment can be solved by implementing business level strategies. STRATEGIC MANAGEMENT 12 References Alola, A. A. (2019). Carbon emissions and the trilemma of trade policy, migration policy and health care in the US. Carbon Management, 209-218. Amernic, J., & Craig, R. (2017). CEO speeches and safety culture: British Petroleum before the Deepwater Horizon disaster. Critical Perspectives on Accounting, 61-80. Chofreh, A. G., Goni, F. A., Klemeš, J. J., Moosavi, S. M., Davoudi, M., & Zeinalnezhad, M. (2021). Covid-19 shock: Development of strategic management framework for global energy. . Renewable and Sustainable Energy Reviews, 110643. Guan, D., Meng, J., Reiner, D. M., Zhang, N., Shan, Y., Mi, Z., & Davis, S. J. (2018). Structural decline in China’s CO 2 emissions through transitions in industry and energy systems. Nature Geoscience, 551-555. STRATEGIC MANAGEMENT 13 Jewell, J., McCollum, D., Emmerling, J., Bertram, C., Gernaat, D. E., Krey, V., & Riahi, K. (2018). Limited emission reductions from fuel subsidy removal except in energy-exporting regions. Nature, 229-233. Leipold, S., & Petit-Boix, A. (2018). The circular economy and the bio-based sectorPerspectives of European and German stakeholders. . Journal of cleaner production, 1125-1137. Lu, H., Huang, K., Azimi, M., & Guo, L. (2019). Blockchain technology in the oil and gas industry: A review of applications, opportunities, challenges, and risks. Ieee Access, 41426-41444. Rahman, Z. U., & Ahmad, M. (2019). Modeling the relationship between gross capital formation and CO 2 (a) symmetrically in the case of Pakistan: an empirical analysis through NARDL approach. . Environmental Science and Pollution Research, 8111-8124. Tekic, Z., & Koroteev, D. (2019). From disruptively digital to proudly analog: A holistic typology of digital transformation strategies. . Business Horizons, 683-593. Thakur, V. (2021). Framework for PESTEL dimensions of sustainable healthcare waste management: Learnings from COVID-19 outbreak. Journal of cleaner production, 125562. . Name: Description: ...
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