It also transforms capital into goods and services. Operational management allows firms, and companies to come up with strategies that help companies deal with new market entrants and main competitors. Each company has a distinct way of dealing with its operations (Merz & Sauber1995). Many companies come up with distinct names for their departments. BP is a multinational company which has a vibrant operational and management department. Problem definition BP has come under intense pressure due to competition from other major oil producing companies. The company needs to reinvent itself in order to maintain its profitability. BP is known to produce large amounts of oil. However, the large amounts of oil are not reflected in the amounts of revenues generated. The company is also facing the threats that range from new entrants to the established oil companies. There is need to consider the strategies that are needed to keep the company economically viable and competitive. Body BP Amoco is a leading oil industry aims at supplying petroleum products to its international marketplace. Operation administration has become an essential tool in the oil industry management techniques. Operation management makes sure these industries adhere to quality of work. BP also known as BP Amoco is located in London (Wulf 2012). It is a globally established petroleum and oil firm. The company began in 1901. The company was used in all exploration and was a source of oil for the royal navy (Business Week 2012). The company was founded by William Knox and found oil for the first time in 1908. In 1917, the UK administration became in charge of the industry, and planned to rename it to B P (Business Week 2012). BP expanded its market in the entire Europe and later merged with American Oil Company (AMOCO). BP has been using high quality operational management skills with have been the reason behind the firm’s success. BP is in service in over a hundred countries on to serve the international market. BP focuses on drilling and discovering oil around the world (Scarborough & Spatarella1998).BP is paying attention to quality products. BP is setting achieve goals with a clear timeline. The company is closing down branches are considered to have declining revenues. Attention is paid to products which are consumer friendly. This has caused BP to rebrand and the initial step to create incentives to employees and to attract customers. BP is measuring quality and productivity through amount generated per barrel. The company explores unfinished lubricants, natural gas, refinement, distillation, selling, and delivery, along with manufacturing petroleum products (The Economist 2011). The company
Operations Management of BP Plc Name : Institution : Globalization and information technology have caused fierce competition among the leading oil firms. Many oil firms have stated to establish strategies which uphold their ready for action plan. British Petroleum Company is one of the leading oil companies that are reviewing their operations management critically…
This report focuses on the strategic analysis of Oil and Gas Company named as British Petroleum (BP). The paper aims to study the current strategic position British Petroleum. Moreover, it covers the structural determinants; environmental analysis and intensity of competition, competitive strategy and implications of strategies for future growth.
In this study, focus will be on how sustainable the company is in the highly competitive oil industry, in the face of both internal and external forces that affect the industry. The paper will take a wider scope based on Carrol’s 1991 Corporate Social Responsibility Pyramid and thereafter, SWOT and PESTEL techniques of analysis will be applied.
It is also a vertically integrated organization engaged in the exploration, production, refining, distribution and marketing of the oil and gas products. Such diversity of the operations therefore requires careful and prudent risk management approach to ensure that the operations of the firm do not create a significant risk for the firm.
titutions around the globe. The report includes discussion on approaches and policies of British Petroleum and its response to the disaster along with personal observations and recommendations that will enable the organization to mitigate possibility of any such disaster in the future.
The sales and other operating revenues of the company during 2010 were $297,107 million, with human resource strength of 79,700 employees (Bp.com, 2010). The British Petroleum (BP) share prices have been at its lowest level prior to its rising by the end of July 2011.
Contextually, companies have the need to strategize their moves in a distinct manner in order to present themselves as a more developed and innovative player in front of the potential customers (Ferrell & et. al., 2011). In this regard, the aspect of sustainability has become quite vital for the operations of the business unit in today’s competitive business scenario.
This company started off as the Anglo-Persian Oil Company in the early 1930s and was involved with the development of the oil sector in Iran, prior to the nationalisation of the oil interests. The Oil, gas and energy business in
The goal of the company is to be focused oil and Gas Company that offers value over volume. The goal is pursued through clear strategies and employment of distinctive capabilities. The company operates in over 80 countries, having its head office in London,
2 pages (500 words)Essay
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