Report: Assessment (2)

Assessment (2)
by Khushboo Memon

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Assessment (2)
Introduction
British Plc is an oil and petroleum company that is involved in a diverse
portfolio of businesses ranging from oil extraction, refining, power generating,
distributing, and so on. The diverse practices of oil make it the largest revenue-
generating and profit-making business in the world. Strategic fit prevails as an
essential consideration for the organization's major decisions. British Plc,
since its inception, has brought many changes in its business mode. These
changes range from improving the business operations by considering internal
factors to sustainability in its business. In recent years, British Plc has adopted
many changes to address external environmental factors. One of the significant
business strategies that the company has adopted is to become zero-carbon
and minimize the use of non-renewable energy sources. To achieve this
strategy, British Plc is exploring the origins of solar and wind energy. The
primary aim behind this strategy is to address climate change, a growing
environmental issue caused by the use of carbon and petroleum products. The
strategic decision to use alternative energy sources is not confined to only
external environment fit. Still, it also improves the internal business
environment by allowing the company to become cost-efficient and invest in
growth-intensive and developing business forms. The following section
provides detailed internal and external strategic decisions that British Plc has
adopted to achieve more growth and sustain the triple bottom approach,
people-planet-society.
Internal strategic fit

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Along with a sustainable business approach, the internal strategy that British
Plc has adopted is to use a conceptual framework of convenience and mobility.
To implement this strategy, British Plc has been using many approaches such
as retail, Castrol, aviation, and B2B business models. Additionally, using
hydrocarbons with growth-intensive models, cost minimization, and an
integrated energy system are all approaches to make the system more
optimized and growth-oriented. British Plc adopts the following internal
strategies.
Business expansion
To achieve growth and make more revenue, British Plc uses business expansion
strategies. One of these strategies is partnering with other countries. It makes
the supply chain long, and outsourcing unique materials becomes possible.
Business expansion has allowed British Plc to explore new markets and
capture maximum share (bp global, 2023)
Disruptive innovation
To catch the pace of technology, more automated and innovative methods are
used. Digitalization is one among these. BP ventures and launch pads are two
examples of digital innovation used by British Plc to bring more empowerment
to its workforce. These methods also make the company more customer-
oriented as customer engagement is enhanced along with workforce
empowerment (bp global, 2023).
Compelling dividends and returns
One of the competitive decisions that British Plc has taken is to provide
compelling dividends with a growth of 4% in its dividend per ordinary share.
Along with dividend growth, British Plc aims to achieve accelerated growth in
its return with a return on capital employed of 18% from 2025-2030
(Yahoo!,2023).

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External strategic fit

External factors impact business growth and revenue. The PESTLE model
explains how political, economic, technological, social, legal, and
environmental factors impact business. Recent events of the Russia-Ukraine
war, COVID-19, and global financial crises have left drastic impacts and
challenges for companies to cope with (Chukwunonso et al.,2022). Weak
political ties have disrupted the oil and petroleum supply chain to the top,
causing delays in the shipment and delivery of products. However, British Plc
has adopted many strategic decisions to face these external environmental
challenges. Following are some external strategic decisions taken by British Plc
Zero-Carbon approach
To sustain the environment and reduce the environmental impact of pollution
caused by the polymer of carbon in oil and petroleum products companies are
using bio-friendly carbon and crude oil lubricants (M.A et al.,2022). British Plc
has been refining its business model to use alternative energy sources.
Companies of petrol and oil are using green environment concepts in their
business to become more sustainable (Atle et al.,2022). To leave a zero-carbon
footprint on the planet, people, and environment, British Plc is using advanced
technology and seeking help from artificial intelligence to move towards eco-
friendly energy alternatives.
Use of transition growth energies
Recent reports of British Plc reveal growth energies the company uses to
become more resilient in using hydrocarbons with minimum waste and
pollution. TSEs (transition growth strategies)aim to deliver more earnings and
profit for British Plc. The use of TSEs has many implications for addressing
climate issues and serves as an alternative source that diversifies the
production model (bp Global, 2023).

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Geopolitical strengthening
British Plc aims to maintain strong relationships with other countries so that
more business expansion and supplier's competitive advantage can also be
supported. It abides by the political laws of other countries and maintains
healthy relations so that any marriage in business operations outside cannot
deter performance.
Conclusion
To sum up, British Plc has many strategic strategies in its business operations
that fit well with the internal business model of growth and development and
external business factors. It has used carbon-free alternative energy sources to
make a diversified portfolio. Using transition growth energy will optimize the
business more; also, strong political ties with the countries would allow British
Plc more opportunities to explore business opportunities beyond the domestic
market only. Lastly, compelling dividend shares and high returns will
strengthen the confidence of stakeholders and investors.
References
Midttun, A., Khanieva, M., Lia, M., & Wenner, E. (2022). The greening of the
European petroleum industry. Energy Policy, 167, 112964.
bp global. (2023).BP update on Strategic Progress: News and insights: Home.
bp global.https://www.bp.com/en/global/corporate/news-and-insights/press-
releases/bp-update-on-strategic-progress.html.
Yahoo! (2023, November 9). BP P.L.C. (BP) Company Profile & Facts. Yahoo!
Finance. https://finance.yahoo.com/quote/BP/profile?p=BP.
Ossai, I. C., Hamid, F. S., & Hassan, A. (2022). Biological treatments for
petroleum hydrocarbon pollutions: The eco-friendly technologies.
El-Liethy, M. A., El-Noubi, M. M., Abia, A. L. K., El-Malky, M. G., Hashem, A. I., &
El-Taweel, G. E. (2022). Eco-friendly bioremediation approach for crude oil-

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polluted soils using a novel and stimulated Enterobacter hormaechei ODB H32
strain. International Journal of Environmental Science and Technology, 19(11),
10577-10588.

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