Business Environment Assignment

Business Environment Assignment Words: 1973

The main purposes of this assignment is to intensify advantages and sedateness Of business environment in ILK, then these factors will be analyzed to point influences to BP in UK and lastly giving evaluation and solution for BP to solve these problems. To complete the purposes, this assignment includes six parts. The first part is to identify the purpose of different types of organization. This will intensify the vision, mission, goals, and values of BP in the world. Then explaining them and analyzing their influences to BP in KICK.

The second part is to describe the extent to which an organization meets the objectives of different stakeholders. It will point kinds f stakeholder and their objectives to BP. After that, strategies established by BP to meet these objectives will be analyzed and evaluated. The next part to explain the responsibilities of an organization and strategies employed to meet them. This part will demonstrate that BP has taken responsibilities for business environment. The fourth part is to explain how economic systems attempt to allocate resources effectively. The economy and resources in UK and their impacts to BP will be analyzed here.

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The fifth part is to assess the impact of fiscal and monetary policy on business organizations and their activities. This will analyze influences of fiscal and monetary policy of the Government and impacts of economic situation to BP. The last part is to evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization. This will intensify industrial competitiveness policy and welfare policies in UK and analyze influences of these policies to Up’s operation. Ill. BODY 1 . 1) Identify the purposes of different types of organization 1. 1 . ) Legal structure of BP: As part Of prevarication Of public utilities/companies, this company was post-prevarication. (BATCHED, 2012) 1. 1. 2) purpose of BP: . 1. 2. 1) Vision statement: “We strive to be a safety leader in our industry, a world-class operator, a good corporate citizen and a great employer. ” (BP, ND) 1. 1. 2. 2) Mission statement: “Above everything, that starts with safety and excellence in our operations. This is fundamental to or success. Our approach is built on respect, being consistent and having the courage to do the right thing. We believe success comes from the energy of our people.

We have a determination to learn and to do things better. We depend upon developing and deploying the best technology, and building long-lasting relationships. We are committed to aging a real difference in providing the energy the world needs today, and in the changing world of tomorrow. We work as one team. We are BP. ” (BP, ND) 1. 2. 2. 3) Goals: According to (Caroline_44, 2011), BP has two main goals: To improve Up’s image and brand reputation among its external audience (customers) To build strong relationships with its core internal and activists group 1. 1. 3. ) Values: According to (BP, ND), BP has 5 values: Safety: “Safety is good business. Everything we do relies upon the safety of our workforce and the communities around us. We care about the safe management of the environment. We are committed to safely delivering energy to the world. ” Respect: “We respect the world in which we operate. It begins with compliance with laws and regulations. We hold ourselves to the highest ethical standards and behave in ways that earn the trust of others. We depend on the relationships we have and respect each other and those we work with.

We value diversity of people and thought. We care about the consequences of our decisions, large and small, on those around us. ” Excellence: “We are in a hazardous business and are committed to excellence through the systematic and disciplined management of our operations. We follow and uphold the rules and standards we set for our company. We commit to quality outcomes, have a thirst to learn and to improve. If something is not right, we correct it. ” Courage: “What we do is rarely easy. Achieving the best outcomes often requires the courage to face difficulty, to speak up and stand by what we believe.

We always strive to do the right thing. We explore new ways of thinking and are unafraid to ask for help. We are honest with ourselves and actively seek feedback from others. We aim for an enduring legacy, despite the short-term priorities Of our world. ” One team: Whatever the strength of the individual, we will accomplish more together. We put the team ahead of our personal success and commit to building its capability. We trust each other to deliver on our respective obligations. ” 1. 1. 3. 5) Explanation and summary: BP has a clear vision statement for itself.

BP wants to be the best company in its industry. Its priority is safety for customers and employees. Next, BP outlines its specific role in mission statement. BP focuses on the way to deliver energy to the world. In other words, BP maximizes its employees’ power to have most efficient results for consumers and the company. To do those, safety and excellence of its employees are priority. Next, BP builds a culture of respect, courage, innovation and solidarity. The last, it applies the best technologies in work. After that, BP builds goals to focus on stakeholders.

It wants to make a good image in customers’ mind and keep a good relationship with connected and external stakeholders. Lastly, BP intensifies its 5 values including: Safety: BP always looks the safety is the most important thing in every operation of the organization. It cares about the safety of its employees, communities and environment around it. This is the way for BP to earn the belief of the stakeholders. Respect: Respect for laws and regulations in every. Veer BP operates is obligation. Besides, the company builds a culture of respect between individuals within organization.

BP believes that the respect bring a good image for the company. Excellence: BP asserts the excellence of organization through the systematic and disciplined management within the company. It appreciates innovation and being avid to learn of employees. It trusts these make the best result for the organization. Courage: BP requires labors courage to struggle against challengers. Additionally, creativity of employees is that the organization is encouraging and finding. BP also commits to be honest in every operation of the organization and is always seek feedback to improve itself.

One team: BP lays team’s benefit and success ahead of individuals’. It guarantees to build a solid team to close colleague relationship and maximize power of strong team based on excellent individual. BP has very specific vision statement, mission statement, goals and value for itself. They directly affect the ways BP operates in ILK. BP in I-J needs to follow them to build its image in customers’ mind, rate a suitable culture for employees within it, have innovation of working methods and lastly maximize profit. 1. 2 ) Describe the extent to which an organization meets the objectives of different stakeholders 1. . 1 The influence of stakeholders Stakeholders are divided into three groups, including: Internal stakeholders, connected stakeholders and External stakeholders. Each stakeholder has different influence on the organization depend on their interest/aspirations and power/influence. Figure 1: Stakeholder mapping- (BP Professional Education, 2004) Types Stakeholders Stakeholder Mapping Key players Keep satisfied Keep informed Minimal effort Internal Employee x Management Connected Customer Shareholders Competitor External Government Local Authorities Table 1: The influence of stakeholders Internal stakeholder a.

Employee- Key player Employees receive order from the management and communicate with customers directly. For example, in BP employees receive requirement from manager, carry out the plan and add value for the company directly. B. Management- Key player All companies need management to manage, make and decide strategies, take the responsibilities in the organization. In case of BP, manager makes Lana and decide where they will exploit oil, where they will expand their brand and decides which strategy is suitable in each situation and local. So manager is person who direct influence to the successful of BP.

Connected stakeholder c. Customer- Key player Customer always has high power in all markets, they usually want a low price and good quality in a product. Customers choice decide the success or failure of a company. So BP always care about customer by provide safety product for people healthy. D. Shareholders- Key player They are people who hold company ‘shares, they having voting right to make cession in the company such as voting for new CEO, new projects planning, etc. That directly impact and have strongly influence to operating of the company.

So shareholders also have a big role in the company. E. Competitor- Minimal effort BP has many competitors such as Exxon Mobil, Total, Shell, etc. They put BP under high pressure to improve the company and attract more customer but they have low impact and low interest in BP so they belong to minimum effort. External stakeholder f. Government- Keep satisfied BP has to pay taxes for the government annually and follows the law which they have set out. The company makes more profits, they also have to pay more tax. So the government is regarded as keep satisfied g.

Local authorities- Minimal effort Business has strongly impact on the local area, it creates jobs for local people but also suffer if the business fails. 1. 2. 2 The extent to which BP achieves the objectives of the stakeholders Objectives Achieved Not achieved Employees Attractive income Bonus/ reward Good work environment Customers High quality Clear and accurate information Suitable price Supporting and subsidizing activities Taxes Environment Table 2: Assessment of the extent to which BP achieves the objectives of the takeovers Internal stakeholder- Employee a.

Attractive income and Bonus/ Reward- Achieved In the end of 2011, BP has 83,400 employees worldwide and the most important objectives of employees are having high income. BP pays salary for employees based on their performance in work and the employees also received bonus or reward when they achieve good results or bring a huge benefit for the company b. Good work environment- Achieved BP always wants its employees have a good work environment. BP is implemented human resources strategy in order to achieve what their employees want and BP has success.

BP provides for employees a good ark environment with high technology and convenient equipment. BP has achieved what their employees need and want. Connected stakeholder- Customers c. High quality- Achieved BP provides both lubricant products for consume and industry in 30 countries. BP provides products in superior performance and high reliability such as SENTENCE, GET High Mileage, etc. With the purposes of reduces operating costs for customers, provides absolute protection against waste of oil be used and against the harmful sediment.

These product meet customer’s need in high quality and suitable price d. Clear and accurate information- Achieved On the own website, BP has fully provided information about company and how the company is operating, annual report, its strategies in the future, etc. That helps customers have a fully knowing about the company. BP has successful in the way which approach to customers. E. Suitable price- BP UK has suggested we provide lubricant in ASK. Up’s lubricant has a competitive and suitable price for its product in Ukase market.

Table 3: The lubricant’s price in Ukase market The table above illustrated the lubricant’s price of BP and two other competitors which are Total and Shell. Can be easily seen that BP has a eatable price in compare with other brands but BP still ensures the quality of product with customer. External stakeholder- Local Authorities f. Supporting and subsidizing activities- Achieved BP has provided over $620,000 has worked with the Auk’s Foreign and Commonwealth Office for supporting Auk’s government employees and students have chance to training in Leeds.

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