BP's strategy brief outlines their goals to rebuild trust and shareholder value following the 2010 Gulf of Mexico oil spill. It discusses focusing on safety, strengthening performance, and investing in oil, gas, and alternative energy innovations. BP aims to meet growing global energy demand responsibly by balancing safety with strategic investments and partnerships.
Harvard Business School Case Study on Mountain Man Brewing Company by Shashank Srivastava, IET Lucknow under the guidance of Prof. Sameer Mathur, IIM Lucknow.
Harvard Business School Case Study on Mountain Man Brewing Company by Shashank Srivastava, IET Lucknow under the guidance of Prof. Sameer Mathur, IIM Lucknow.
Ian Craig (EVP Sub-Saharan Africa) and Mutiu Sunmonu (Managing Director SPDC) presented at a field visit Shell organised for Socially Responsible Investors in Port Harcourt, Nigeria.
Integrated Marketing Campaign: American Red Cross ~ CapstoneNathan Pieratt
Integrated Marketing Communications Capstone. University of West Virginia.
Client: American Red Cross
Objective: To create a 12-month integrated marketing campaign that will provide young urban professionals ages 22-35 opportunities to engage with the American Red Cross in fresh and innovative ways while strengthen relationships and encouraging donations during non-disaster time periods.
Best in class.
A marketing Case Study of Natureview Farm, an organic yogurt manufacturer. This analysis was performed by E. Santhosh Kumar, IIT Madras, during an internship with Prof. Sameer Mathur, IIM Lucknow.
Ian Craig (EVP Sub-Saharan Africa) and Mutiu Sunmonu (Managing Director SPDC) presented at a field visit Shell organised for Socially Responsible Investors in Port Harcourt, Nigeria.
Integrated Marketing Campaign: American Red Cross ~ CapstoneNathan Pieratt
Integrated Marketing Communications Capstone. University of West Virginia.
Client: American Red Cross
Objective: To create a 12-month integrated marketing campaign that will provide young urban professionals ages 22-35 opportunities to engage with the American Red Cross in fresh and innovative ways while strengthen relationships and encouraging donations during non-disaster time periods.
Best in class.
A marketing Case Study of Natureview Farm, an organic yogurt manufacturer. This analysis was performed by E. Santhosh Kumar, IIT Madras, during an internship with Prof. Sameer Mathur, IIM Lucknow.
This is a case study of how Forecast Advertising planned and executed the communication plan
to position Prysmian as a global group known for it’s R&D expertise, diverse product range, customer service and quality and to promote the Ravin - Prysmian joint venture as a merger of strengths - technological and managerial know-how of Prysmian with the dynamism and competitiveness of Ravin.
Using the REDD+ supply chain as an analytical framework and
drawing on information gathered through expert meetings and interviews with over 40 developing-country REDD+decision-makers and implementers, the research examined:
• In the REDD+ supply chain, who are the private sector players and what are their motivations and types of
interventions?
• What are the current challenges for private sector engagement in REDD+?
• How can private sector engagement in REDD+ be enhanced
The economic development unit held a webinar January 16th on how various country offices and individuals in CARE are developing and applying private sector engagement strategies. We heard from the PSE Director at CARE Bangladesh, the PSE Coordinator at CARE Vietnam, the PSE advisor for CARE UK, and a PSE Specialist in the Asia Regional Management Unit on their experiences, successes and the challenges of developing and implementing PSE Strategies at the country and regional levels. Some key questions the presentation addressed were: How can CARE strategically engage the private sector? Should CARE target domestic or international companies? How does CARE balance the tension between raising funds and achieving impact?
Steven Tolson - Investment Inputs: Citizens, Developers and the Stateurbanism2
A presentation given by Steven Tolson at the 2011 Design Skills Symposium which was held in Stirling and hosted by Architecture + Design Scotland and Historic Scotland.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
2. WHO WE ARE
“better people
better products
beyond petroleum”
3. HOW WE COMPETE
Oil – Discovery, Extraction,
Refinery, Storage & Distribution
BP also lays great
importance on product
Gas - Discovery, Extraction,
Refinery, Storage & Distribution
differentiation such as
offering Regular Unleaded
petrol and BP Ultimate
Unleaded petrol
Alternative Energy – Development &
Distribution
Bio Chemicals – Development &
Distribution
4. COMPETITORS
Market Capital
390.53
219.16 231.95
120.55
101.1
86.3
5. PORTER’S FIVE FORCES
•LOW
•LOW THREAT OF •HIGH BARRIERS OF ENTRY
•WE SOURCE OUR OWN POTENTIAL
ENTRANTS
IN OLIGOPOLY INDUSTRY
OIL AND TRACK IT
BARGAINING INDUSTRY BARGAINING
POWER OF
SUPPLIERS RIVALRY
POWER OF
BUYERS
•LOW
•PRODUCTS NEEDED –
CUSTOMERS STILL
PAYING THE PRICE
•EXTREMELY HIGH THREAT OF
•DIFFERENTIATING SUBSTITUTE
PRODUCT
FROM COMPETITORS OR SERVICE
•LOW
•GROWING TENDENCY TO BUY
SUBSTITUTES TO OIL
6. STAKEHOLDERS
Internal External Channels
Employees Internal communications channels: Intranet
sites, targeted e-mail, team
meetings, surveys and affinity groups.
Local communities Consultation activities (interviews, surveys
and polls), local and mass media.
Customers Global consumer satisfaction programme,
focus groups, feedback channels via the
website, advertising and marketing.
Media Press conferences, press releases,
interviews and surveys, social media
channels (Twitter, Facebook).
Shareholders and Reporting documents (annual report,
analysts accounts, annual sustainability report), and
published corporate reports. Annual general
meetings and Q&A sessions.
Governments and Lobbying and advocacy, consulting meetings,
regulators product-sharing contracts.
Industry Meetings, collaborative projects. E.g. UK
Renewable Energy Association, UK Emissions
Trading Group.
Non-governmental Continuous dialogue and meetings,
Organizations consultation on new projects.
7. STAKEHOLDER MAPPING MATRIX
MANAGE CLOSELY: Local
KEEP SATISFIED:
communities, customers, non-
Governments, regulators, shar
governmental
eholders & analysts
organisations, the media
POWER
MONITOR: The Industry KEEP INFORMED: Employees
INTEREST
8. WHERE WE ARE NOW
Still recovering from Huge focus on We are ready to
last years crisis strengthening safety, change the
restore trust and building conversation
long term shareholder
• The tragic accident in value • The last 18 months we • While safety and risk
the Gulf of Mexico in have taken some management
April 2010 lead to a huge measures to continues to be a top
widespread loss of build a sustainable BP priority and an
trust in BP and for the integrated part of our
damaged our future, strengthen corporate
reputation safety, restore trust strategy, we feel
tremendously. and build long term confident, that we
shareholder value. have now reached a
point where we are
ready to change the
conversation sensibly
and empathically.
The global energy challenge Investment and innovations the
key
•Last week the earth’s population •The last 5 years we have been
numbered 7 billion people and investing over 80 billion dollars in
by 2030, the world will consume oil, gas and alternative energy
40% more energy than it does such as wind, solar and bio-fuels.
today. We are committed to Innovation is one of our key
supply the increasing demand for values and each year we put
energy safely, responsibly and huge resources into driving
efficiently. That's the energy innovation.
challenge – and the focus of our
global business.
11. CORPORATE STRATEGY
We are determined that BP will BP’s mission for 2011 and BP is investing more and more
STRATEGY
MISSION
GREEN
be a safer, more risk-aware beyond is to grow value for our money into the development of
business. shareholders in a alternative energies. BP’s
We will deliver on our way that is safe and alternative energy business is
commitments from the Gulf sustainable. 2011 will be a focused on biofuels, wind and
Coast incident and year of consolidation in which solar, along with demonstration
projects and technology
work hard to earn back the we focus on our number one development in carbon capture
trust in our operations. priority – safety – and and storage. We believe these
We will rebuild value for our strengthen the drivers of have the potential to be a
shareholders by re- long-term performance, such material source of low-carbon
establishing our competitive as risk management, energy, and they are aligned
capability and relationships. with BP’s core capabilities.
position within the sector by
playing our part in meeting the We will invest in areas where
world’s growing we excel, such as exploration,
demand for energy, as well as and we will enter
participating in the transition into new types of relationships
to a low-carbon with partners.
Economy.
12. VALUES
Progressive
We believe in the principle
of
mutual advantage and
build
productive relationships
with Responsible
each other, our partners
and
our customers. We are committed to the safety
and development of our people
and the communities and
societies
in which we operate. We aim for
Performance driven no
accidents, no harm to people and
We deliver on our promises no damage to the environment.
through continuous
improvement and safe
reliable operations.
Innovative
We push boundaries today
and create tomorrow’s
breakthroughs through our
people and technology.
13. WHERE WE WANT TO BE
Increased
awareness
Attitude on
change with alternative
huge energy
Sustain long concerns for
term innovations
the
shareholder environment
Restore trust value we will meet
with a strong the global
focus on energy
safety and risk challenge
management
Editor's Notes
WHAT BUSINESS ARE WE INWe are in the multi-utilities industry, dominated by American and European corporations, with five of the 10 largest global corporations being in the same business (Fortune, 2011)
We are a global oil and gas company, the third largest energy company in the world, and the 4th largest global corporation, with an annual revenue of $308,928 millions, in 2011 (BP, 2011)We operate across six continents, employing 79,700 employees and our products and services are now available in more than 80 countries worldwide (BP, 2011) Since the 1920’s, BP has been our main brand, and the foundation for everything we do. “Beyond Petroleum” sums up our brand in the most concise way possible. It is what we stand for, but also a description of what we do. We are vertically integrated in every area of the oil and gas industry. From production, refining, distribution and marketing, power generation and petrochemicals, to renewable energy including solar, wind, hydrogen and bio-fuels. We are at the heart of all these areas, making sure we can supply the world with energy both now, and far into the future. BP is progressive, responsible, innovative and performance driven. We want to be recognized as a great company, one which is competitively successful and a force for progress- by having BETTER PEOPLE, BETTER PRODUCTS and moving BEYOND PETROLEUM. SOURCES:Fortune. Global 500 Full List (2011). Available at: http://money.cnn.com/magazines/fortune/global500/2011/full_list/ BP (2011) Beyond Petroleum. Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9038318&contentId=7019491BP (2011)Where We Operate. Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=6&contentId=7019358BP (2011) The BP Brand. Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9038310&contentId=7037996BP (2011) Our Values. Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9038305&contentId=7005204
BP principally competes within the industry of discovery, extraction, refinery, storage and distribution of oil and natural gases. We use sophisticated technologies and tried-and-true techniques to find oil and gas under the earth’s surface. More recently, scientific techniques and new technologies have greatly improved the odds.We also invest heavily in the development and distribution of alternative energy such as, wind, solar, hydra power and biofuels which are fuels derived from biomass such as cereals, oilseeds, sugarcane and specially grown energy grasses. They can have an environmental impact that is significantly lower than other fuels. Producing biofuels can also reduce dependence on imported oil and provide jobs and markets for farming communities. BP is working to produce biofuels – today and in the future – that are low cost, low carbon, sustainable and able to fulfil the world’s transportation fuel needs on a large scale.Another factor to how BP competes is product differentiation. An example of this would be BP Ultimate Unleaded which is cleaner petrol with more octanes in that therefore emits fewer emissions than regular unleaded which is also sold.SOURCES:Bp.com, 2011. Oil and gas exploration. [online] Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9021489&contentId=7039991 [Accessed 4 November 2011]Bp.com, 2011. Refining technology. [online] Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9017543&contentId=7031695 [Accessed 4 November 2011]Bp.com, 2011. Alternative energy. [online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036324&contentId=7067654 [Accessed 4 November 2011]Bp.com, 2011. Biofuels. [online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036325&contentId=7067107 [Accessed 4 November 2011]
Managers are most directly affected by forces in their immediate competitive environment. According to Porter, the ability of a firm to earn an acceptable return depends on 5 forces – threat of potential entrants, threat of substitute product or service, bargaining power of suppliers, bargaining power of buyers and rivalry within the industry,It is the collective strength of the 5 forces that determines industry profitability. The stronger the forces, collectively, the less profitable the industry will be: the weaker they are, the greater the profits. Knowing how these forces are likely to affect their industry enables managers to shape their strategy. (Boddy, 2008, p.93) THREAT OF POTENTIAL ENTRANTSThe threat of potential entrants is low due to the high barriers of entry. It is very unlikely for the petroleum market to have any new entrants. BP is in an oligopoly industry and it requires a high entry cost which is the key barrier. (Grant, 2010, p.69) Other aspects that need to be considered are the need for economies of scale (to compete on cost), which are difficult to achieve quickly; access to distribution channels; subsidies that benefit existing firms at the expense of potential new entrants; cost advantages of existing firms, such as access to raw materials or know-how; strong product/service differentiation – brand loyalty. (Boddy, 2008, p. 93-94) 2. THREAT OF SUBSTITUTE PRODUCT OR SERVICEThe immediate threats of substitutes to oil and natural gas is low, as the performance of alternative energy sources is still very much in the developing stages. It will be some time until alternative energy rises to the same consumption level as natural gas and oil. Furthermore, the cost of switching to these sources is very high for corporations and individuals, and in the difficult economic climate of today these additional costs are growing in importance (Grant, 2010, p.70)However, people and corporations are becoming more environmentally aware and with the increasingly challenging government regulations, there is growing tendency to buy substitutes to oil. The price performance of alternative fuels compared to oil is significant to BP and the whole petroleum industry in the current climate, which is why we are investing heavily in R&D to develop intelligent and innovative alternative energy sources.We believe that low-carbon energy will grow considerably in the coming years, (bp.com, 2011) 3. BARGAINING POWER OF SUPPLIERSThe bargaining power of the suppliers is low, as we source our own oil and track the process of the oil getting to the petrol stations, so the bargaining power of suppliers is low. We use sophisticated technologies and techniques to find oil and gas. (bp.com, 2011) 4. BARGAINING POWER OF BUYERSThe bargaining power of buyers is low; there is a small amount of alternatives to oil and natural gas that can be used on such level today. The customers can switch easily, but it is more costly. Petrol is a large part of the buyer’s costs, encouraging the buyer to seek lower prices. (Boddy, 2008, p.95) Our products are considered needed in the countries that we operate and the customers will still be paying the price if it increases. That is because if one petrol company lowers the prices, the others do the same and vice versa. 5. RIVALRY The rivalry in the market is extremely high. As mentioned before, we are in an oligopoly market and the prices tend to be similar. The competition (Exxon Mobile, Royal Dutch Shell, Chevron Company, Total SA, ConocoPhillips, BP plc) is concentrated on promotion, advertising and product development, as are we. Also, the price is the sole basis for competition but us being in an oligopoly, the price competition may be restrained by total agreement or though the ‘’parallelism’’ of pricing decisions. (Grant, 2010, p. 73) There is only a small about of differentiation in this industry, which is why we identify, implement and market helpful new technologies. (bp.com, 2011) SOURCES: Boddy, D. 2008. Management: An Introduction. 4-th ed. Harlow : Financial Times Prentice Hall Grant. R. M. 2010. Contemporary Strategy Analysis. 2-nd ed. John Wiley & Sons LtdBp.com, 2011. Oil and gas exploration. [online] Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9021489&contentId=7039991 [Accessed 4 November 2011]Bp.com, 2011. Refining technology. [online] Available at: http://www.bp.com/sectiongenericarticle.do?categoryId=9017543&contentId=7031695 [Accessed 4 November 2011]Bp.com, 2011. Alternative energy. [online] Available at: http://www.bp.com/sectiongenericarticle800.do?categoryId=9036324&contentId=7067654 [Accessed 4 November 2011]
Stakeholders and current channelsEmployeesFormal one-to-one relationship between an employee and his/her manager is the main way in which BP and employees interact. Frequent one-to-one meetings are held annually to discuss the performance of the company, raise and sort out any issues or concerns the employees may have.Senior BP leaders engage with employees through town hall meetings and webcasts and often involve an effective and thorough Q&A session. E.g. Following the Deepwater Horizon accident in 2010, these meetings helped our employees stay updated on progress and developments.Internal BP Magazines are regularly published and given to staff to keep them informed of our progress throughout the year. These keep our employees aware of any changes we are making throughout the company, and provide another feedback channel. Local CommunitiesA set of group social and environmental practices introduced in 2010 laid the foundation of the community engagement principles our project teams must follow in applicable projects. We identify and contact all local stakeholders who have a legitimate interest in the project long before any physical work has started. These communications continue throughout the lifespan of a project. These local stakeholders include:- People likely to be affected by the project, including indigenous peoples.- People in communities adjacent to the project area.- Community based organizations and others.Other channels include newspapers, radio and the internet, posters, information centres, public meetings and workshops.CustomersWe use a variety of methods to engage with our consumers, including interviews, surveys, feedback tools, viral online communications, web-based interactive programmes, and marketing programmes.Following the Deepwater Horizon accident in 2010, we conducted interviews and other forms of customer research to help us understand our customers’ reactions to the spill and the BP’s response. This research helped inform various aspects of the response, from our retail programmes to the informational advertising used to keep the public informed of our progress in the Gulf.MediaBP keeps the media informed of the new developments in our company, response activities, and other newsworthy material through several channels including press conferences, press releases, direct contact with journalists via interviews with employees and surveys. Social media channels include Twitter and Facebook. Shareholders and analystsAs a stock-listed company, recognizing an importance and responsibility in keeping our shareholders and the investment community informed about our progress, is very important to our organization. Our commitment goes far beyond our statutory requirements as a listed company. E.g. Following the Deepwater Horizon accident in 2010, our communications strategy was to be as transparent as possible and keep the constant flow of new information. Regular announcements on the market were made, while senior executives, including the chairman and the group CEO held regular meetings with our shareholders and industry analysts.Other channels include face-to-face meetings and webcasts, and the website.Governments and regulatorsOur communication with governments and regulators largely depends on the legal and regulatory framework in each country. We regularly meet with governmental agencies to discuss our current and future projects in the concerned country. Channels include face-to-face meetings, collaborative projects and lobbying reports to ensure a constant flow of information between the parties.IndustryMembership and participation in regional and international organizations working to find and support collaborative energy solutions.Channels include regular meetings and webcasts.Non-governmental organizationsBP is committed to ongoing engagement with key stakeholders, including NGOs.New projects are regularly consulted with relevant local and international NGOs for insights into our plans. We communicate and listen to NGOs via regular meetings and consultations. SOURCES:BP Stakeholder Engagement, 2010. [online] Accessible at: http://www.bp.com/subsection.do?categoryId=9036693&contentId=7067445&nicam=vanity&redirect=www.bp.com/stakeholders [Accessed on 1/11/2011].
We are still recovering from last years crisis. The accident in the Gulf of Mexico in April 2010 lead to a widespread loss of trust in BP, and damaged our reputation tremendously. The last 18 months we have taken some huge measures to build a sustainable BP for the future; a future with strengthened safety, restored trust and long-term shareholder value.We have moved far. While the majority of our American market disapproved how we handled the Deep Water Horizon Crisis, they haven’t lost their trust in us (Gallup 2010). A majority, up 50% from last year, are now once again in favor of offshore drilling (Gallup 2011a), and believe we should continue our projects in the Gulf of Mexico. We are ready to change the conversation, and while safety and risk management continues to be a top priority and an integrated part of our corporate strategy, we feel confident, that we have now reached a point where we are prepared to change the conversation sensibly and empathetically Moving forward: The Energy Challenge Last week the earth’s population numbered 7 billion people, and by 2030, the world will consume 40% more energy than it does today. The consumption of renewable energy, in particular, continues to grow at a fast pace. For example, solar power grew by 73% in 2011 (BP, 2011). We are committed to supply the increasing demand for energy safely, responsibly and efficiently.We have a vital contribution to make here. That, is the energy challenge ; and the focus of our global business. Here, investment and innovation is the key. The last 5 years we have been investing over 80 billion dollars in oil, gas and alternative energy such as wind, solar and biofuels. Innovation is one of our key values and each year we put huge resources into driving innovation. As the public is getting more and more concerned with the global energy challenge, we wish to be a trustworthy source of information, within the broader discussion in our field of expertise – energy innovation and perspectives on climate change. Now, let’s look at our current media coverage, and where we stand in terms of share of voice… : Statistical Review of World Energy for 2011 : http://www.bp.com/sectiongenericarticle800.do?categoryId=9037134&contentId=7068677 )
Note: The media coverage research is based on our own estimates. The research was taken within a range of British newspapers and news channels within the period of 5th August – 5th November 2011.From a relative perspective, our share of voice in comparison to our main competitors, has remained high over the last three months.Our percentage SOV is substantially higher than theirs, in the areas where we most desire growth and increased awareness.We have invested heavily in innovation and alternative energy, differentiating our brand specifically in these areas. However, analyzing our specific media coverage (which we will cover on the next slide), there is an indication that our large SOV, is somewhat influenced by our company being UK based, and thus creating more headlines in the UK media- as our actual coverage in these areas are nowhere near as favorable. SOURCES: Nexis UK Database, 2011. Keyword search. [online] Accessible at:http://0-www.lexisnexis.com.emu.londonmet.ac.uk/uk/nexis/http://www.bbc.co.uk/news/business-15613162 [Accessed on 6 November 2011]
Note: The media coverage research is based on our own estimates. The research was taken within a range of British newspapers and news channels within the period of 30th August – 5th November 2011. The Deepwater Horizon disaster and its after effects (38 % media coverage) HEADLINESNegative value: (7 Sept.) Protesters continue to march on our US headquarters in Houston. Though this receives less media coverage than it has in the previous months. (14 Sept.) BP is again the measure of strong criticisms when another report on the Deepwater Horizon disaster is published. The report finds seven cases where "BP, and in some instances its contractors, violated regulations". It also comes up with five examples of where BP made "decisions that reduced costs and increased risk" as the well as running £37m over budget. (16 Sept.) BP is accused of under reporting the value of natural gas extracted from lands in New Mexico leased from Native Americans and the US government.BP pays £13m to US authorities to settle the allegations. (21 Sept.) Researchers from Auburn University find tar balls on the US Gulf coast. They link this to BP’s oil spill - and the impact of the spill continues. (28 Sept.) Sightings of oil are found in the Gulf of Mexico near the drill. The Coast Guard issues a warning to Transocean, the owner of the rig.HEADLINESPositive value: (17 Oct.) A settlement is made with Macondo partner Anadarko of all claims related to the Deepwater Horizon accident. (21 Oct.) US regulators approves exploration plans for drilling in the Gulf of Mexico again. With our tightened focus on safety this year, this is a huge milestone for us in winning back the trust of the authorities and our publics. MEDIA VALUE :Even though we had two very positive news stories (the settlement with Macondo and the drilling license) The DH disaster still has an overall bad impact on our reputation. We can conclude that our key message (our new more risk aware business and huge focus on safety) have not been picked up by the media, to a satisfactory extent. The failed joint-venture with Russian Rosneft (32 % media coverage) (30 Aug.) All hopes left for a joint venture with Russian Rosneft finally collapse 30 Aug 2011 when Rosneft signs a deal with Exxon Mobil. Besides missing a major oil exploration opportunity in the Arctic we also hear many grossly disappointed voices from our shareholders in the media. (31 Aug.) The case doesn’t get better when a group of minority investors decide to sue us and two of our executives on the board for a collective £8bn claiming that BP has frustrated the possible £10bn deal with Rosneft. (24 Oct.) The board of TNK-BP decides not to back the $13bn compensation claim against BP. The next hearing in the case is scheduled for November 11.MEDIA VALUE :The story gets a lot of media coverage through a range of media channels. The responds we get, especially from our shareholders, are very negative. The analyzing of the third quarter financial figures (16% media coverage) (Aug) BP receives low expectations from a number of independent analysts for the third quarter numbers, and the City expects third quarter numbers to be its weakest so far this year. (Aug) 30 shareholders announce that they are prepared to put more pressure on Bob Dudley if he is failing to articulate a stronger vision for the future BP at the annual meeting. (Aug) Some investors and analysts are even discussing a possible brake up of the company. Bob Dudley refutes all talk of a potential break-up of BP. (25 Oct.) The third quarter financial figures turn out to be stronger than many had expected. We are increasing our asset disposal program to $45bn from $30bn. We expect our cash flow to increase by 50% between now and 2014. (25 Oct.) After the announcement we receive positive feedback from a number of prominent analysts and investors welcoming the new confidence, optimism and future targets. Shares are rising. (26 Oct.) From some media though, Bob Dudley is being criticized for stressing the latest positive financial results. With phrases like “a turning point for BP” he is accused of being “insensible” and of “rushing a sense of normality back to BP, when there is still a long way to go” (Guardian). MEDIA VALUE :After the annual meeting we receive positive feedback from especially one stakeholder group; our shareholders, investors and analysts. The media picks up our key message – our positive financial results and strong new vision for the future of BP. New investments and exploration contracts (8 % media coverage) (13 Oct.) BP, together with our partners Shell, ConocoPhillips and Chevron win the government’s approval for a £4.5bn oil field investment in the Shetland Islands. The development will provide hundreds of UK jobs in engineering, drilling and in oilfield services. This receives a fair amount of positive press. (Oct.) A $7.2bn production deal is made with Reliance Industries in India. Same month we also sign new exploration contracts in Libya and Brazil. MEDIA VALUE :Our key messages regarding our efforts in new investments and exploration contracts gets picked up by the media – even though we could have wished for more coverage in this area. Other subjects (5 % media coverage) Innovations and alternative energy (1 % media coverage) (27 Oct.) BP signs a wind turbine contract with GE for 560 megawatts. MEDIA VALUE :The little amount of media coverage we get in this field is not satisfying at all. SOURCES:BBC News, 2011. [online] Accessible at: http://www.bbc.co.uk/news/business-15613162 [Accessed on 6 November 2011] BP Press Room, 2011. [online] Accessible at: http://www.bp.com/articlelisting.do?categoryId=2012968&contentId=2006635 [Accessed on 6 November 2011) Nexis UK Database, 2011. Keyword search. [online] Accessible at:http://0-www.lexisnexis.com.emu.londonmet.ac.uk/uk/nexis/http://www.bbc.co.uk/news/business-15613162 [Accessed on 6 November 2011] The Guardian, 2011. [online] Accessible at: http://www.guardian.co.uk/business/bp [Accessed on 6 November 2011]The Independent, 2011. [online] Accessible at: http://www.independent.co.uk/news/business/news/bp [Accessed on 6 November 2011]The Telegraph, 2011. [online] Accessible at: http://www.telegraph.co.uk/finance/newsbysector/epic/bpdot/ [Accessed on 6 November 2011]
We have reached a clear turning point, challenged by the Deepwater Horizon Accident, which left us a changed company.2011 has been a year of consolidation, and we have placed an increased emphasis on value over volume, as we have sharpened our strategy and reshaped the company for growth. With our refocused strategy, we are working to become more responsive and more competitive.We are moving quickly to address out weakness and build on our strengths, not hesitating to go beyond the conventional business model of an international oil company.We believe that differentiation is what sets us apart from other companies in the industry, and we are therefore not afraid to develop innovative and new approaches which redefine the model, setting our brand image apart.We are different. We are strong and safe. We are innovative and intelligent. We care about tomorrow. Differentiation is how we compete- from our employees, to our products, financial integrity, performance and long-term goals; we are different. We want to continue being a leader in high-quality hydrocarbons, while developing the innovative and intelligent options of tomorrow. Our low carbon resources are central to this long-term strategy.We are able to meet the world growing need for energy, but we can only do this if we have the trust of society. Strategy“We are determined that BP will be a safer, more risk-aware business. We will deliver on our commitments from the Gulf Coast incident and work hard to earn back the trust in our operations. We will rebuild value for our shareholders by re-establishing our competitive position within the sector by playing our part in meeting the world’s growing demand for energy, as well as participating in the transition to a low-carbon Economy” Mission“BP’s mission for 2011 and beyond is to grow value for our shareholders in a way that is safe and sustainable. 2011 will be a year of consolidation in which we focus on our number one priority – safety – and strengthen the drivers of long-term performance, such as risk management, capability and relationships. We will invest in areas where we excel, such as exploration, and we will enter into new types of relationships with partners” Now, let’s have a look at our values which determine how we stand apart from the rest, and why we should be trusted… SOURCESBP,2011. Dudley Sets out Priorities for Stronger, Safer BP. BP Press Release. 25/10/2011. [online] Available at: http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7071741 Accessed on 09/11/2011. BP, 2011a. Dudley Sets out Priorities for Stronger, Safer BP. BP Press Release. 25/10/2011. [online] Available at: http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7071741 [Accessed on 09/11/2011] BP and Technology, 2011. [online] Available at: http://www.bp.com/productlanding.do?categoryId=9025115&contentId=7047794 Accessed on 09/11/2011.BP Summary Review,2010. [online] Available at: http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/downloads/pdf/BP_Summary_Review_2010.pdf Accessed on 09/11/2011 Accessed on 09/11/2011.BP Summary Review, 2010. [online] Available at: http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/set_branch/STAGING/common_assets/downloads/pdf/BP_Summary_Review_2010.pdf Accessed on 09/11/2011 BP, 2011b. Renewable Energy. [online] Available at: http://www.bp.com/subsection.do?categoryId=9037155&contentId=7068627 Gallup, 2010. [online] Oil Spill in the Gulf of Mexico. [online] Available at: http://www.gallup.com/poll/140978/Oil-Spill-Gulf-Mexico.aspx[Accessed on 09/11/2011] Gallup, 2011a. U.S. Oil Drilling Gains Favour with Americans. 14/03/2011. [online] Available at: http://www.gallup.com/poll/146615/oil-drilling-gains-favor-americans.aspx[Accessed on 09/11/2011] Gallup, 2011b. In U.S., Expanding Energy Output Still Trumps Green Concerns. 16/04/2011. [online] Available at: http://www.gallup.com/poll/146651/Expanding-Energy-Output-Trumps-Green-Concerns.aspx[Accessed on 09/11/2011]