Type, Scope, and Environment of Business Assignment (Essay Sample)
Type, Scope, and Environment of Business Assignment
Responsibilities of BP towards Stakeholderssource..
BUSINESS AND BUSINESS ENVIRONMENT
Location of Institution
Business and Business Environment
Type, Scope, and Environment of Business
BP is a corporation, which means that it has separate legal entity from its owners (Pride et al., 2009). In addition, the business enjoys advantages that come with being a corporation including ease exchange of ownership, specialised management, guaranteed continuity, ease in raising capital among others (Gupta, 2007). BP is headquartered in the UK, but its operations are distributed all over the world. Therefore, it operates in the international business environment. In this regards, therefore, its operations are influenced by forces such as the culture, currency fluctuations, political temperatures, among other challenges that come with having a global presence. The company has 74,500 employees who help it in carrying out is operations in 72 countries around the world (BP, n.d.). The company deals primarily with the exploration of oil and natural gas. Other segments of the organisation deal with the trading and marketing of natural gas (Reuters, n.d). As seen, BP is a large organisation whose operations are globally distributed.
BP has many stakeholders, and it ensures it takes care of their interest. As informed by Ferrell (2004), businesses have stakeholders, and they have different interests in the organisation. BP recognises this and ensures it engages with its stakeholders in a productive way. The employees, analysts, and shareholders are among the major stakeholders whose interests are considered by the company. The government and regulators also form another group of stakeholders that PB engages with through consultations. Other stakeholders that BP takes into consideration their interests include customers, local communities, partners and contractors, and NGOs. These stakeholders are part of the operations of the business, and the company takes care of their need
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