The impact of major events on BP in the past decade - Focusing on the COVID-19 pandemic and the Russian-Ukrainian war
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| Format: | Thesis |
| Kulcsszavak: | BP fenntarthatóság koronavírus-járvány (COVID-19) kőolaj megújuló erőforrások orosz-ukrán háború Oroszország Ukrajna |
| Online Access: | http://dolgozattar.uni-bge.hu/56916 |
| Abstract: | This research aims to analyze whether the Covid-19 pandemic and Russo-Ukrainian war accelerated BP’s transition to an integrated energy company. In the past five years, the company has introduced an extensive and ambitious transformation plan which made it exceptional among its competitors. However, two unforeseen challenges altered the business environment even for multinational corporations. Their handling of the pandemic and war, and decisions they make affect smaller players, thus affecting the environment for all. I find it important to examine this topic as these unprecedented situations are more likely to be experienced in the future. Though today’s enterprises are prepared somewhat to these events, their planning should be updated and developed as time and technology advances. The paper uses mainly secondary research in the form of publicly available reports from BP and other sources of Internet. A semi-structured interview was also conducted with a Credit and Collection team leader for Iberia, to gain a better understanding of BCPs and risk management at the time. I find that the two events indeed accelerated BP’s transition to being more sustainable, however we cannot state that it was the only reason the company started its transformation. My research highlights how unexpected challenges can be overcome by strategic planning. It also emphasizes the importance of sustainability for long-term success in the energy sector in a transforming world. |
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