Company Analysis: British Petroleum (BP)

In this study, the strategic environment in which British Petroleum (BP) operates has been discussed. The company follows a ten-point strategy which includes the safety issues and the operational functions that is based on the strengths of the company, such as relationship with the employees, value chain, technology, etc. If the business trend of BP is considered then it can be said that it did not reveal a positive scenario because of the oil spill that took place in the Gulf of Mexico. The US government had nearly cornered BP and its operations in their geography due to the environmental damage its oil spill had spread. This also negatively affected the company in terms of its goodwill and financials. The competitive element that BP has due to which it is recovering faster is its alternative energy initiative to produce renewable energy, bio fuels, and other energy through wind and solar power. As far as the core competencies of the company are concerned, it has strong goodwill, internal control, and are well known for its exploration skills too. The major competitors of BP are Exxon Mobil, Royal Dutch Shell, Chevron, Valero Energy, ConocoPhillips, Sunoco and LUKOIL Petrobras. However, three of its competitors, namely, Exxon Mobil, Royal Dutch Shell, and Chevron are chosen for conducting a comparative analysis with BP in this study. Different companies in the same industry have different competencies, but this does not mean that they hinder the growth of other company. The companies in oil and gas industry have huge market capitalization and their customers are also fixed, so there is negligible scope of cannibalization of market share.

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