Business Operations and Systems Literature review

Business Operations and Systems - Literature review Example It was one of the first chief oil firms to openly declare the necessity to protect the environment through minimization of greenhouse gases emission. BP has main listing on the London Stock Exchange and is a component of FTE 100 index. As of December 2011, the market capitalization stood at ? 87.1 billion making it rank fourth largest of any firm quoted on the London Stock Exchange (BP, 2012; p. 2). New York Stock Exchange has the secondary listings of the firm. The success of the firm is instrumentally motivated by the kind of operational strategies used by the management of BP. Power and capabilities have been effective in the firm in the development of world market for its products among other oil firms. As mentioned earlier, the firm operates in all the six continents globally within 100 States. The primary objective of the firm has been to drill and locate oil in various parts of the world. Other main functions have been to explore and produce crude oil and natural gas, refining of crude oil, market distribution and hauling and manufacture of petrochemicals. The firm has also considered producing solar power. Therefore, the tactical management of operations can be seen as instrumental in the success of the firm. As one of the greatest petrochemical and oil production company the firm has considered to specialize in exploration and production of gas, supply of the petroleum products and production and distribution of various chemicals. Currently, the firm has rapid modification of its outside market as the firm has highly regarded itself as contemporal learning organization, which is obliged to be reactive and adaptive to the high technology in the... The business can make use of this in their interior operations that can be applied to consignees, distributors and stakeholders. The process of payment or status of the cargo or consignment can be easily received thus providing an efficient channel for replenishment of stock at the right time. This technology can be used to assist the firm in minimizing the risks associated with the inventory management and maximization of sales through reduction of life cycles of the products. Furthermore, competitive advantage can easily be achieved considering the fact that there is an easy order-entry procedure and reduced paper work. Even though there are apparent benefits for companies and development of these operational management systems, there are still some observable challenges. Therefore, the firm’s management must be in a position to guarantee the obstacles can be handled with care to avoid loopholes in the system. What’s more, it is observable that the status of economy c an trigger British Petroleum to consider using all their arsenals in delivering products and services to various segments of the global market. The application of operational business management approach can help make more efficient the business assortment of the firm.

An Entrepreneur's Journey Assignment Example | Topics and Well Written Essays - 750 words

An Entrepreneur's Journey - Assignment Example Both her personal and business life need maximum and equal attention. Simi will have a difficult time during the transition as first she has to find an appropriate house for the family, and one that she can afford. Her husband is dealing with the housing issue, but it has an effect on the family and their finances. In addition, she has her children’s education to worry about, as the move to Lagos will necessitate them to change school. Finding this a good school for the kids to settle is another challenge. The moving process will have a huge effect on the family as it involves many changes to their personal and professional lives. The children will have to change schools and the environment they have been used to. Simi and her husband will also have to adapt to the new personal and business environment they will now be exposed to (Davis and Spence 5). The move to Nigeria presents a new challenge to the survival of the business, which is only 2 years old. Simi had to put in measures that will ensure the survival of the business even without his husband’s presence throughout the year. She has to have a strategic plan on the sustainability of the business in both the long-term and short-term. To safeguard the survival of the business, Simi has taken several steps. The first step has been to ensure that she will find time to take care of the business by being there for 4 months in a year. This will give her the opportunity to deal with the company issues and assess the progress in her absence. In addition, she will keep constant communication with Feyi to help her in the day-to-day running of the business. Simi and Feyi have hired a marketing consultant to help them articulate the story to the media and public in general. This is a step to help the business gain more recognition and extend its outreach to more potential clients. This will help grow the business and ensure its