Essay on Bp Oil Spill

1124 Words May 25th, 2014 5 Pages
Disaster in the Gulf: One Year Later
Business Policy & Strategy (MAN 4764-1)
Everest University
Presented to: Professor Melissa Sweeney
Presented by: Burl Hicks
April 18, 2014

Disaster in the Gulf: One Year Later
1. What external environment (general, industry, and competitive) segments do you think BP considered or didn’t consider prior to their drilling of the Gulf Coast? What should the wedding business owners now consider in their external environment? BP decided to drill in the Gulf Coast mostly because of the oil availability and competition. Opportunity was definitely considered by BP. The North Sea was saturated with other oil companies and BP saw an opportunity in the Gulf of Mexico (Pour, 2011). The segment
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The company also has little to no concern about the bargaining power of buyers and threat of substitute products. Demand for oil is higher than ever in history, and other substitute sources of power are nowhere as potent to be considered a threat. The company has a well-established chain of supplies and retailers across the globe, so buyers in many places really don’t stand a chance against BP. The only force that keeps the company in check is its rivals. Royal Dutch Shell, Exxon Mobil, Sinopec, Chevron, etc. are fierce competitors whose resources are the biggest threat to BP. These companies fight for control over huge markets like North America, Europe or potential market like China, and help keep prices in check.
4. Who might be in BP’s strategic group and why?
Companies that might be in BP’s strategic group have to practice vertical integration and operate on a global scale (The Guardian, 2010). Companies in a strategic group are usually extremely competitive, and having the same strategy and resources enables them to stay that way. Some of the companies that could be considered such are Royal Dutch Shell, Exxon Mobil, Sinopec. All of these companies are looking to make huge profits just like BP and often set up rigs near the same areas. Fossil fuels are something that is in high demand. Each of these companies looks for ways to set themselves apart, but all are after the same good.
5. What would

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