There are very few aspects of how a company behaves as a corporate citizen that do not apply to a company of the size and nature of BP. The most significant of these are the sheer environmental impact - not simply of the extraction of oil and the energy use of BP's own operation, but more significantly of the impact on climate change of the actual use of all the oil by BP's customers. The state of current scientific evidence raises serious question marks over whether or not human society can actually afford to burn all the hydrocarbons whose existence we have already identified - never mind potential future discoveries. Twenty years ago, people worried that one day the oil would run out. Now, it is the case that the real issue has been identified as one of emissions.
BP has several weaknesses. Currently they are holding a large percentage of liability. Some of that liability is due to the Gulf oil spill and the other is tied in the uncertain and sure-to-fail dealings to get a foothold in the Russian oil market. Additionally, the Gulf oil spill has marred the reputation of BP to the United States, BP’s largest customer. This has resulted in dwindling sales and halts to new drilling within the US and its waters. BP also has had a track record for cutting costs that have resulted in two other large accidental spills only five years ealier. In 2005, a refinery in Texas caught fire and in 2006 a section of the Alaskan pipeline burst (Bryant, 2010). These events showed neglect on the part of BP and lead to the record sized fine imposed on them.
British Petroleum (BP) is a multinational oil and gas company. Based on market cap, it was the fifth largest energy company in 2013. ("IHS Energy 50"). Like many petroleum based companies, BP is often under fire from environmental activists for not being environmentally cautious, but during the year of 2010, BP experienced a disaster that would cripple it’s reputation far past that of the average petroleum energy company.
Developing a business opportunity or introducing a new product into the global market place is a risky business at the best of times. Strong and precise business strategies along with extensive market research are the keys for developing a successful global enterprise. This essay will cover the core fundamentals required to best enter the global market while minimizing the risks. Core fundamental include, indentifying potential markets, product competition, risks involved, future growth potential, entry strategy and costs involved to enter the market place.
The image as well as the operational business reputation of a corporation is critical to the survivability of the corporation in today’s business world. This reputation is even more critical when a business has is known globally with holdings and operations around the world. Such is the case with British Petroleum (BP) as it actively explores for oil in 26 countries around the world. BP is renowned as an industry leader in oil production and the refinement of oil related products such as gasoline, kerosene and motor oil products. In 1999, BP acquired American Oil Company, also
Market entry strategies refer to modes of accessing a share of clients en masse in a new environment. This paper will give an overview of different market entry options available and their extent of applicability in the Abu Dhabi National Hotels Company’s effort to enter the US market. It will also evaluate Abu Dhabi National Hotels Company by considering indirect market entry options in entering the US market.
British Petroleum(BP) is one of the world’s top oil and gas companies, it is also United Kingdom’s largest corporation. They mainly deal with Oil but since the last 40 years or so they have shown great interest in chemicals and plastics, including a range of specialty products such as detergents, advanced composite materials, and advanced ceramic engineered materials. BP has more than 16,000 service stations around the world. Around 13% of their revenue is generated from oil exploration and around 7% of their revenue is generated from producing chemicals and plastics. Like most oil companies they’ve had their fair share of controversies, especially over the last 50 years or so. Their most recent
BP (British Petroleum) is one of the largest petroleum industry company supplying oil and gas around the world. The business has employed more than 85,700 employees globally, and aims to create value for shareholders by helping to meet growing demand for energy in a responsible
As offshore drilling was a new industry, regulations had to develop at the same time the industry developed. Unfortunately regulations were usually enacted and enforced after accidents had already occurred. Analyzing the development of the offshore oil industry in comparison to the process of regulating its operations will show the international, national, and local processes involved in attempting to balance the economic benefits with the environmental risks involved. An applicable example for showing the relationship between the environment and the economy created by the offshore oil industry is the drilling operations in the Gulf of Mexico.
A recent article developed by the CEO of the company shows that Petrobras have managed to transform its operations, and it’s currently providing services and products that are environment friendly. According to the article titled ‘the green of Petrobras’ shows that, over the past 8 years, the company has established and implemented several strategies in transforming the company from a notorious environmental perspective into a global leader in an environment that is sustainable. The author of the article believes that an organization should operate in an environment that drives social improvement. The company has established some strategies that help it ensure that it operates in a safe environment and also it promotes environmentally sound
Well known companies like Nike, Microsoft, Sony, Shell Group are just some of the big companies that went global and expanded their trading around the world, they are large businesses that operate internationally in many countries. Development of worldwide integration urges companies to reach out international markets and interact with foreign customers. Businesses focus on fulfilling the demand of the market by its products or services, their focus is also increasing profit, and to achieve these goals they favor to expand their work in a foreign market. Other reasons to internationalize their business may be to become stronger than the other competitors and also to lower their expenses by getting resources they need at
British Petroleum (BP) is the world largest retailer of gasoline in the United States. It ranks at the top of three global oil and gas industry. From the corporate watch website (2009), it pointed out that almost 70% of the profits are gained from the US and Europe. In addition, BP is also devoted for aviation fuels and shipping aspects. It is reported that about 900 ports and more than 1400 airports have been supplied by the BP’s lubricants and fuels. Meanwhile, BP has operated on other countries such as Asia and South America in order to expand its market and explorations.
Another very common approach to explain foreign market entry strategies is Dunning’s (1980) famous OLI framework. In his view, companies become more actively involved in international business activities if they possess a set of three main advantages, namely ownership, location and internalization advantage. Ownership advantage refers to the unique firm-specific resources, including both tangible and intangible assets that contribute to enhancing the competitiveness of the firm in the foreign market. Location advantage refers to how firms choose the country or region where to engage in international activities with respect to the availability as well as the costs of resources such as raw materials or favourable wage levels. Location advantage
BP p.l.c. is an energy company with an upstream business of extracting crude oil and downstream business of providing processed energy to companies. It is listed in both the New York Stock Exchange (NYSE) based in the United States of America and the London Stock Exchange (LSE). BP is based in London and they carry out oil prospecting extraction and retail its product in more than 70 countries. Out of the companies operating in the oil industry, the biggest two competitor of BP is ExxonMobil and Chevron. ExxonMobil and Chevron are chosen due to their similarities to BP and they are ranked