|Industries served||Oil and gas|
|Geographic areas served||Worldwide|
|Current CEO||Bob Dudley|
|Revenue||$ 388.285 billion (2012)|
|Profit||$ 11.816 billion (2012)|
|Main Competitors||Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc. and many other oil companies.|
BP is a British multinational oil and gas company. It is the fifth-largest energy company by market capitalization, fifth-largest company in the world measured by 2012 revenues, and the sixth largest oil and gas company measured by 2012 production. It is one of the six oil and gas "super majors". BP is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy activities in biofuels and wind power.
BP mission statement 2013
BP doesn’t have an official mission statement, but provides several different statements called: “What we do”, “What we stand for” & “What we value”. In this evaluation, we use a combination of all 3 BP statements, because they resemble a true mission statement.
"What we do:
What we stand for:
What we value:
|Does it include...?|
|Technology||Concern for survival||Philosophy|
|Self-concept||Concern for public image||Employees|
|Does it mention values like...?||Customer or product-oriented?|
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
This is one of the few missions in our evaluation where we combined few statements to make one statement. Although this combination is not an official mission of BP, it possesses all the characteristics of a mission. All nine components have been included, which gives enough information about the business for company’s stakeholders. BP, unlike many other companies, addresses all the important stakeholders as well, such as shareholders, employees, customers, suppliers, partners and communities. The company also mentions all 4 values used in our evaluation, which no other company has done so far. The drawbacks of the mission statement are that it is a bit too long and product-oriented. The company doesn’t stress our that it operates to satisfy customers’ needs but rather to be in the production of essential energy sources. This gives limited opportunities for the company to expand into other product markets without making its mission obsolete.
BP’s mission has scored one of the highest points in our evaluations and it is truly great mission, which should bring many benefits for the company. All the company has to do is to create customer-oriented mission and to put efforts in communicating it to its employees.