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Business Policies and Strategies of BP - Questions and Responses

            
             What external environment (general, industry, and competitive) segments do you think BP considered or didn't consider prior to their drilling off the Gulf Coast? What should the wedding business owners now consider in their external environment? .
             Response .
             When the decision was made for BP to drill off the Gulf Coast the one thing that was certain to be considered was opportunity. This was brought on by the vast availability of the oil and the competition. What were not considered by the company were the environmental problems that drilling in this area would cause. The also did not consider the fact that the deep water would make it difficult for problems to be monitored and in some cases solved. The wedding business owners should now consider the threat that BP's drilling rigs left behind. Because the oil industry has a major problem with catastrophic events happening, they should consider looking into other different kinds of business opportunities to go along with their existing business model.
             Question.
             How should BP have handled an external environmental analysis and what environmental changes and trends (opportunities and threats) might they have discovered? .
             Response.
             By BP being one of the biggest oil companies in their industry they are very well known in their market and for their geographical presence. Because the demand for oil is ever rising this powerful company stands to make a lot of money. But because of their bad history they also face quite a bit of scrutiny from the powers that be – the government and environmentalist. This company made the bad decision to be more concerned about the money than their market. They made shortcuts in safety measures in order to keep the cost of production low. This decision is what eventually led to the oil spill. They also should have invested more towards the maintenance of the rig to avoid both mechanical and technical problems.
            
            
            
            
            
            


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  • Word Count: 9632
  • Approx Pages: 39
  • Has Bibliography
  • Grade Level: Undergraduate

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