Smart objectives of bp

Smart objectives of bp Task Three SMART Objectives of BP BP Objectives atomic number 18 prepared correspond to SMART (Specific, Measurable, Achievable, Realistic, and Timed).That means it should be particular about what we are expiration to achieve and should quantify about the objectives. There are a several(prenominal) types of objectives that all female genital organ be done in the SMART format. move objectivesImpact objectivesOutcome objectivesPersonal objectivesBPs five course of study intent objectives are, add profitability by 20%Increase production financial gain by inspection and repair to the increasing demandBuild shuffle value that was affected by the oil color spills Five family schooling plan for BP Business plan is a statement about companys hereafter goals and plans to achieve those goals. This can be externally focus or internally focus. BPs Strategies in progress can state as,Upstream ripeningDownstream turnaroundAlternative Energy focuse disciplined corporal simplificationIn the upstream give focus on embody and capital efficiency to deliver profitable growth. In the downstream leave drive further efficiencies and a focus on quality and integration. They will maintain their disciplined approach to alternative energy and will relate to unlock corporate efficiency through a culture of uninterrupted improvement.Five year development plan for BPObjectiveStrategyActions action IndicatorsTime Period1Increase profitability by 20%Research and developmentHire most qualified researchersInnovative slipway of doing thingsOne year2Increase productionAcquisition of unification sea area.Negotiations with governments and agreeing for a joint profit sharing.Coming into an agreement with pertinent governmentsTwo years3Financial gain by serving to the increasing demandSales and Marketing approaches to addition market regionRecruiting experienced sales and marketing people and objective trainingacquiring new market opportunities, incre ase the market shareOne year4Build brand name value that was affected by the oil spills Communication and promotion strategyUsing new media opportunities of social media to build brand name again, invest in CSR activities in Go Green. flinch the black mark3 years Evaluating and implementing the plan In corporate strategy, Johnson, Scholes and Whittington present a model in which strategical options are evaluated against troika key success criteriaSuitability (would it work?)Feasibility (can it be make to work?)Acceptability (will they work it?)(Source- http//en.wikipedia.org/wiki/Strategic_management) Objectives Time Line 1 year 2 year 3 year 4 year 1Increase profitability by 20%X2Increase productionXX3Financial gain by serving to the increasing demandX4Build brand value that was affected by the oil spills XXX Conclusion When it is mention about the strategic management and the leadership strategic planning is a major part of it. Strategic planning can divide in to three stages as strategic Analysis, Strategic Options and military rank and Implementation. The British petroleum Corporation is a well shewed constitution in petroleum industry and here it is mentioned about the strategy and rivalrous advantages of the BP and the technical tools which could they can use to analysis situations. The porters five forces investigation helps separate the competitive environment BP analysis their market for Quality production.There are so many competitors like Solar, sharp in the market and BP establish with mass production. By doing the SWOT analysis its helping company to tell apart the internal and external environment of the company. BP is focused on customers and they believe in their productions.They used the oil plus solar power combination and they used product segmentation, improve cost efficiency and some more strategies to increase their profits. They have created value through technology and this is a barrier for their competitors. corporati on can use strategy clock, Ansoff growth matrix tools to analysis their maculation in the market. To develop strategic options first it should identify the external scope and priorities and clusters. Then it should develop the strategic options. SOP matrix is best tool to identify the strategies of the company.