Management Planning Presentation SFigg
British Petroleum
Management
Planning
Created by: Stacy A. Figg
Course: XMGT/230
Due Date: December 14, 2014
Instructor: Richard Hidalgo
Background of BP
•
Founded by William D. Arcy in 1901
•
Originally an Anglo-Persian company, but later became known as British Petroleum.
1. A company should use a systematic approach.
2. An organization should look to the future and plan out specific objectives and goals.
3. Managers and employees should understand these goals and work together to reach them.
When the goals and objectives of a company are formed they should be very precise to ensure statistical data can be taken over the year to evaluate progress.
4. Detailed planning should be conducted. Any possible preventions should be avoided or solutions should be created.
5. More than one possible strategy and plan should be created in case of unexpected situations. 6. Formulate derivative plans. These sub-plans will help to reach the goal of the main objective.
7. Incorporate the employees and team in the decision making process. This helps with motivation and enthusiasm amongst the members. 8. Collect feedback and use proper assessments.
Planning
Functions of
Management
There are 8 main steps to the planning functions of management Applying the Planning
Functions to BP
•
British Petroleum’s main objectives: •
Environmentally responsible •
•
Employee Safety
Research and assessment
Planning Process at BP
•
Timeline analysis and constraints •
•
Budget analysis
Evaluations
Planning Process Cont.
•
Understanding of constraints, weaknesses, strengths, and opportunities. •
Obtain outside information such as reviews and recommendations External Influences
•
Government and other legal influences •
•
•
•
Regulations
Customer approval
Environmental trends
Overcoming the oil spill incident Internal Influences
• Code of ethics
•
•
Define the company’s beliefs and conduct
The strategies and changes must be aligned with the company’s code of
Management
Planning
Created by: Stacy A. Figg
Course: XMGT/230
Due Date: December 14, 2014
Instructor: Richard Hidalgo
Background of BP
•
Founded by William D. Arcy in 1901
•
Originally an Anglo-Persian company, but later became known as British Petroleum.
1. A company should use a systematic approach.
2. An organization should look to the future and plan out specific objectives and goals.
3. Managers and employees should understand these goals and work together to reach them.
When the goals and objectives of a company are formed they should be very precise to ensure statistical data can be taken over the year to evaluate progress.
4. Detailed planning should be conducted. Any possible preventions should be avoided or solutions should be created.
5. More than one possible strategy and plan should be created in case of unexpected situations. 6. Formulate derivative plans. These sub-plans will help to reach the goal of the main objective.
7. Incorporate the employees and team in the decision making process. This helps with motivation and enthusiasm amongst the members. 8. Collect feedback and use proper assessments.
Planning
Functions of
Management
There are 8 main steps to the planning functions of management Applying the Planning
Functions to BP
•
British Petroleum’s main objectives: •
Environmentally responsible •
•
Employee Safety
Research and assessment
Planning Process at BP
•
Timeline analysis and constraints •
•
Budget analysis
Evaluations
Planning Process Cont.
•
Understanding of constraints, weaknesses, strengths, and opportunities. •
Obtain outside information such as reviews and recommendations External Influences
•
Government and other legal influences •
•
•
•
Regulations
Customer approval
Environmental trends
Overcoming the oil spill incident Internal Influences
• Code of ethics
•
•
Define the company’s beliefs and conduct
The strategies and changes must be aligned with the company’s code of
References: Power, Dan. What is Contingency Planning. 2010 The Planning of Functional Management. Retrieved from http:// www.managementstudyguide.com/planning_functio n.htm Johnson, Maureen. Moving to Operations Excellence. 2009 Corporate Social Responsibility. Community Investment. Retrieved from www.bp.com