British Petroleum Company and Its Use of Technology
Technology is a key success factor for businesses in the modern world. This essay will focus on British Petroleum and its use of technology with the aim to gain strategic advantage. Firstly, technology will be defined and an overview of the company will be provided. Then, we will focus on ways in which BP uses technology. Finally, the essay will discuss how the use of technology by BP is connected to wider social and business trends, followed by a conclusion. Technology refers to “Exploring a new generation of makerspaces defined by institutional “ (Smith, 2005, p. 25).
BP is a UK-based British petrol company which has a national supply of oil and gas. The headquarters is based in the heart of London. It is one of the world’s largest oil and gas companies. BP believes the energy they provide contributes to financial growth and helps to tackle the issue of unemployment. The way all the energy sources such as heat and light are supplied is changing. BP aims to make a big difference to the new low carbon future alongside, supply for these new changing demands.
BP has operations within 70 countries with a team of up to 74,000 employees. They have sales over £240,000 billion and produce around 2.6 million barrels of oil. They have nearly 20,000 retail sites. They produce oil in many different ways which may be inland or offshore in the sea. They produce and manufacture raw materials used in dairy products on a scale of thousands this can include technological or food packaging.
BP uses technology in several different ways. One of those is using technology to carefully extract oil. Robotics and machinery to help mine safely. This is especially after the deep-water horizon oil spillage. Workers are given specialised equipment and costume to carry out the job. BP is also performing a lot of research in innovative movement, carbon managing, power, and storage. Succeeding its encouragement and support for the clean gas project, BP presents more development in carbon capture technology. This helps as the company produces strategies that revolutionise biochemical procedures that will help clear carbon discharges from power station and industrial facilities
Another way in which BP adopts technology to gain strategic advantage is finding alternative energy sources. They have been investing huge amounts in the last few decades. Their aim today is on Biofuels, biopower, wind energy and solar energy. By developing alternative energy sources BP is trying to respond to wider social and business trends of being environmentally -friendly. Today, society members have become more aware of environmental issue and negative impact that big companies often have on the surroundings. There is a trend of switching to solar panels and wind turbines to address these concerns.
from carefully finding oil and gas to substitute energy, digital and lesser carbon fuels and products. BP knows the emergence of environment changes in weather and aims to help find a solution, they deem Refining the energy effectiveness of jobs, moving to a lesser carbon option. investing in renewable sources and new energy development products. For example, humanizing wind and sugarcane ethanol businesses and advancing the renewable substance in downstream products.
BP is also performing a lot of research in innovative movement, carbon managing, power, and storage. But more significantly technology funds their main objective; safety from deterioration management through devices, data analytics, systems, and robotics. BP believes that technology is developing the world economically and socially, they’re taking advantage of the technology to produce and supply energy in new ways. Which is developing their company and which will eventually lead to the lower carbon future. This will help the future of humanity through less global warming and the reduced amount of greenhouse gases.
This therefore means, that there will be enough amounts of oil for the future of civilization through renewable sources of energy and also producing fewer toxic gasses which is unhealthy for environment and leads to a competitive advantage in a way where consumers will feel like they rather use BP than other companies that release more of carbon emissions. Therefore, in the long run, more consumers will choose BP which will strengthen the brand image of the firm leading to higher sales and profitability.
In contrast, BP has a diverse and multicultural company, they use competitive advantage as they have the knowledge and background alongside professional engineers to help bring together and collaborate new ideas of innovation. They push for consumers to use their gasoline through points and money off cards, this is done as more the consumer uses the company the more points, they build which finally leads to money off. These incentives such as discounted car washes for everyday consumers, this leads to higher consumer loyalty which then leads to repeat purchases hence strengthen their competitive advantage.
BP not only focus on consumers but they strongly focus on the knowledge and professionalism at work and what new ideas that can be bought together to help improve their technology. They focus a lot on the health and safety of their workers and provide a lot of training to staff and also offer apprenticeship programmes. This leads to a competitive advantage as consumers are happy with the firm in the sense that they know that however harmful these toxins are, the workers are kept safe and they are not exposed to the side effects of working in such conditions.
In conclusion, BP is not the only company looking to reduce carbon emissions. Other companies like Shell and Esso are also trying to do this. Therefore, it does not only matter on technology as BP will also have to look for other ways to gain a competitive advantage to gain to upper hand and gain the most market share.
Cite this Essay
To export a reference to this article please select a referencing style below