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The performance and operations of British Petroleum Plc

Extracts from this document...

Introduction

Index 1. Terms of reference 2 2. Procedures 2 3. Findings 3.1 Ownership 4 3.2 Objectives 7 3.3 Functional Areas 9 3.4 Management style 15 3.5 Culture 17 3.6 Structure 19 3.7 Communications and ICT 20 3.8 Quality assurance and control 22 4. Conclusions 23 5. Recommendations 24 -I- Terms of reference This report is based on the performance and operations of British Petroleum Plc (hereinafter quoted as BP). The report explains the objectives, structure, culture and communication channels that operate within BP and an examination of how these factors relate with each other and what is the affection to the success business. This report also takes on the account to quality assurance and control systems that are conducted internally within BP. Alternative means of quality assurance and controls are also discussed as well as the success of the company towards meeting of it's objectives. Overall aim of this report is to relate Business theories as studied in school to the practical applications within BP. Report is written in line with the assessment requirements set by Edexcel Examining Board for unit Business at Work. This report will also be used for future reference during this course. -II- Procedures In order to compile this report information was obtained from different sources but the primary source was the Internet as well as one visit to a BP outlet where a short meeting with assistant manager was held. The outlet was located in Finchley Road, London. The whole process of obtaining information took place over a 12-week period while carefully classified to meet the demands of assessment requirement and whether it is suitable for the topics covered. During the visit made to the outlet, an annual report for the company for the year 2000 was handed in and they instructed to visit regularly website of the company, as most up to date information can be obtained from it. BP as the company in whole is very large business that operates worldwide and participates in different markets. ...read more.

Middle

for home and agricultural heating, industrial processes and as an alternative fuel to petrol for cars and vans; bitumen and greases. BP also trades crude oil and sells natural gas to major utilities and larger customers. BP is one of the world's largest producers of petrochemicals (chemicals derived from oil), manufacturing and marketing a wide range of products and plastics. Also, BP holds a leading position in the market for photovoltaic (PV) modules and systems, which turn sunlight into electricity and provides total solar electric power solutions for industrial, commercial, and residential customers throughout the world. BP's PV technologies have been developed to serve the growing demand for photovoltaics in both traditional (for example for water pumping, telecommunications and instrumentation) and emerging markets. From the facts represented above, it can be clearly judged that this is the main and most important functional area of the BP, as it is role is to produce the product and supply the customers and provide services (i.e. service stations). Above all this sector of the BP generates all incoming revenues and therefore it is the main artery towards the success and meeting the objectives of company. Marketing: this is another department of the company that deals with marketing. Its role is to: * Identify market requirements, * Regulate branding strategies, * Satisfy consumer requirements, * Increase revenue and profits, * Evaluating and targeting new markets. W D Ford is in charge of this department, and its duties are to ensure that these duties are satisfactorily performed and that the strategies are correctly performed. This department is directly accountable to directors. Also the role of this department toward achieving corporate objectives is crucial, as it has to satisfy the consumer for quality, efficiency and the value of products and services offered by the company. In another way it is the duty of this department to analyse the market conditions and evaluate the efficiency of any involvement in new markets, thus advising senior management in decision-making process about these matters. ...read more.

Conclusion

Its profits were record at around � 8 billion. The fact that BP has merged with Amoco, another company that had a big stake in energy market, adds to the value of the success. Company was made more flat and effective. BP's business policies express what the company believes is right and wrong in business. The policies describe what BP expects of its people and what society can expect of BP. Overall all factors mentioned in the findings enable us to conclude the company is hugely successful. But we have to take into the account other matters and issues such as global warming and environment. Even though BP takes huge precautions on preserving environment, its products still contribute to the global warming by releasing the CO2 gas on the nature. Even though company is involved on exploring "green" energy resource, non-pollutant ones, the mainstream of its products remains oil and gases. But for the time being, the welfare of the business and its success is secure due to the fact that the oil remains the spinal cord of obtaining energy. -V- Recommendations At this time the only recommendation to the company is that the environment should be taken more considerably and that the company should be looking forward to explore "green" energy more than it currently, is. There are today claims by some scientists that within next 50 years that hydrogen power will replace all means of energy that we use now, and in other hand it will not pollute environment at all. BP should be aware of these, and start to concentrate on exploring these findings, and help to protect the environment for the sake of future generations. Company should do more in this aspect also by persuading investors to invest in this field, by making them aware for the damage that might be cause to environment. On the aspect of performance, no recommendations arte necessary, as company is meeting its objectives at the full extent and that shareholders are confident and satisfied. ________________________ Valon Hamiti. January 2002. ?? ?? ?? ?? 1 ...read more.

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