Strategic Management
Questions and Instructions
General instructions must follow:
1. Structured/organized
2. Specific/relevant
3. Citations from authentic sources and list of References.
4. Free from plagiarism.
Note: Read the Case study of British Petroleum first and then based on Case study you have these answer these questions by researching from authentic different sources and including as citations and references at last.
QUESTIONS Total 4:
SECTION 1. MISSION, VISION, AND STAKEHOLDERS (20%) [LOs 1-2]
1. Write a mission and a vision statement for British Petroleum (BP) (400 words).
Very brief introduction
Mission statement should include:
1) What business BP are in?
2) Why do they exist?
3) How do BP make a difference?
3.1 What would be lost if organisation does not exist?
Vision statement should include:
1) What does BP want to achieve?
2) What does BP want to be?
Very brief conclusion.
SECTION 2. SCENARIOS AND INDUSTRY ANALYSIS (25%) [LOs 2-3]
2. By employing relevant data from the case, conduct a five forces analysis of the energy industry. What do you conclude about that industry’s attractiveness? (860 words)
Brief introduction
Answer the above question by using Porter’s Five forces theory. Don’t write long definition of theory just describe briefly the theory and straight away answer the above question in best possible way as asked.
Include porter’s five forces framework in the appendix at last.
Brief conclusion
Citations from authentic sources like journals, United kingdom published books, newspapers etc.
SECTION 3. RESOURCES AND CAPABILITIES (25%) [LOs 2-3]
3. Evaluate the bases of British Petroleum’s (BP) strategic capabilities by utilizing the VRIO/VRIN criteria (value, rarity, inimitability, organisation and/or non-substitutability). Which are the key strategic capabilities that provide, or could provide, British Petroleum (BP) with a sustainable competitive advantage? Why? (860 words)
Brief introduction
Don’t write long definition of VRIO/VRIN theory just describe briefly the theory and straight away answer the above question in best possible way as asked.
Include VRIO/VRIN theory framework in the appendix at last
Brief conclusion
Citations from authentic sources like journals, United kingdom published books, newspapers etc.
SECTION 4. BUSINESS AND CORPORATE STRATEGIES (25%) [LOs 1-4]
British Petroleum (BP) has shrunk after selling assets in the wake of the Gulf of Mexico disaster in 2010 and is now worth considerably less than rivals Exxon Mobil or Shell (i.e. The Economist, 2014; Financial Times, 2013)*. Moreover, in April 2015, the company reported ‘a sharp fall in profit as the dramatic fall in oil prices took its tall’ (BBC News, April 2015)**. What suggestions could you make to British Petroleum’s (BP) senior management team to achieve sustainable competitive advantage in the competitive global energy market? (860 words)