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Bus 499

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Analyze the business-level strategies for the corporation you chose to determine the business-level strategy you think is most important to the long-term success of the firm and whether or not you judge this to be a good choice. Justify your opinion.

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Overall, the theme from Tony Hayward, the CEO, is that BP has great assets, in part thanks to the deals of the past decade, such as the takeovers of Amoco and Arco and the creation of TNK-BP, but is still not managing them as well as it could. Having lagged well behind the pack of oil majors when Hayward took over, as measured by return on capital, BP is now about average, but it would like to get closer to the leader, Exxon. That is the context for all the plans B
The key points of that plan are:
1. $3bn to be saved through cost-cutting and efficiency improvements over the next 2-3 years. 2. Roughly $2bn from refining, putting the emphasis on efficient operations rather than just getting the refineries running, which has been the priority. A further $1bn from better project management, resulting from the creation of a new global development unit to manage big projects, which have a tradition of over-shooting their budgets at BP, as they do at many other companies.
- As a small part of that, BP is pulling out of its marketing business in Namibia, Malawi and some other southern African countries.
- Production growth expected to average 1-2 per cent per year during 2008-15, and hopefully for longer. (That follows 4 per cent growth

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