Strategic Management

ST384W Strategic Management

Individual Summative Assignment 2019/20 and Marking Scheme

Review of BP PLC’s Strategy for Competitive Advantage:
A Critical Appraisal from Multiple Perspectives

(100% of module mark; total word count: 2500 words excluding references, diagrams and appendices)

Overview

You have been given access to the document entitled:

BP Annual Report and Financial Statements 2018

In this document the company reports its previous performance, puts forward its strategic proposals and highlights its risks. The assignment requires a critical review of BP PLC’s strategy for achieving competitive advantage. This will be achieved by an analysis of the company’s stated strategy for competitive advantage followed by an appraisal and recommendations for improvement.

Task

The first aspect of the assignment requires an analysis of the company’s stated strategy for competitive advantage. This will be based upon the BP Annual Report and Financial Statements 2018. You should draw upon concepts from the positioning school (e.g. Mintzberg et al, 2009; Porter, 2008; the resource-based view (e.g. Barney, 1991; Crook et al, 2008). It is expected that you will provide populated 5 Forces and VRIO diagrams related to the BP context as part of your report.

Taking the analysis above as the starting point you are expected to conduct an appraisal of the company’s stated strategy for competitive advantage that leads to strategic recommendations to improve BP’s competitive advantage. These should probe the validity of the strategic elements identified in the first part of the analysis and then propose key strategic changes. It is expected that a range of frameworks from various strategy schools will be employed in the critical appraisal. You should be drawing upon alternative strategic concepts and frameworks beyond what Mintzberg et al (2009: 5) term the “prescriptive schools”. You are expected to draw upon comparison with organisations that are different from BP in order to achieve insight into how processes may vary in different contexts. Where appropriate you may draw upon evidence beyond the annual report. Your response should use Minzberg’s classifications of strategy to compare and contrast the advantages and disadvantages they may bring to the design of effective organizational strategies for BP. The assignment should give clear citations to academic and other sources.

References

Barney, J. (1991) ‘Firm resources and sustained competitive advantage’, Journal of Management, 17(1), 99-120

Mintzberg, H., Ahlstrand, B. and Lampel, J. (2009) Strategy Safari: Your complete guide through the wilds of strategic management, Second Edition, Harlow: Pearson

Porter, M.E. (2008) ‘The five competitive forces that shape strategy’, Harvard Business Review, January, 79-93

BUSINESS ASSESSMENT CRITERIA GRID Assessing LO1, 2, 3, 4 & 5 FEEDBACK REPORT: 100%

CRITERION 80-100 First Class / Distinction. 70-79 First Class / Distinction. 60 -69 Upper 2nd Class / Merit.
50 – 59 Lower 2nd Class / Pass.
40 – 49 3rd Class / Pass. 0 – 39 Refer / Fail
1. Synthesize and critically explore the various approaches and schools of thought relating to strategy. 20 An outstanding level of synthesis and critical exploration is provided. An excellent level of synthesis and critical exploration is provided. A good to very good level of synthesis and critical exploration is provided. A sound, competent level of synthesis and critical exploration is provided. An adequate, but weak level of synthesis and critical exploration is provided. Learning outcome has just been met. An unsatisfactory level of synthesis and critical exploration is provided. Little engagement with this aspect of the task.
2. Critically appreciate the factors that influence the strategy process within different kinds of organisations and contexts. 20 An outstanding critical appreciation of the factors that influence the strategy process within different kinds of organisations and contexts. An excellent level critical appreciation of the factors that influence the strategy process within different kinds of organisations and contexts. A good to very good critical appreciation of the factors that influence the strategy process within different kinds of organisations and contexts. A sound, competent level of critical appreciation of the factors that influence the strategy process within different kinds of organisations and contexts. An adequate, but weak level of critical appreciation of the factors that influence the strategy process within different kinds of organisations and contexts. Learning outcome has just been met. An unsatisfactory level of critical appreciation of the factors that influence the strategy process within different kinds of organisations and contexts. Little engagement with this aspect of the task.

3. Critically consider the limitations of current strategic approaches and explore possible future directions. 20 Outstanding critical consideration of the limitations of current strategic approaches and explore possible future directions. Excellent critical consideration of the limitations of current strategic approaches and explore possible future direction. Good to very good critical consideration of the limitations of current strategic approaches and explore possible future directions. Sound, competent critical consideration of the limitations of current strategic approaches and explore possible future directions. Adequate, but weak critical consideration of the limitations of current strategic approaches and explore possible future directions. Learning outcome has just been met. Unsatisfactory critical consideration of the limitations of current strategic approaches and explore possible future direction. Little engagement with this aspect of the task.
4. Synthesize various forms of conceptual classification into meaningful taxonomies. 20 An outstanding synthesis of various forms of conceptual classification into meaningful taxonomies. An excellent synthesis of various forms of conceptual classification into meaningful taxonomies. A good to very good synthesis of various forms of conceptual classification into meaningful taxonomies. A sound, competent synthesis of various forms of conceptual classification into meaningful taxonomies. An adequate, but weak synthesis of various forms of conceptual classification into meaningful taxonomies. Learning outcome has just been met. An unsatisfactory synthesis of various forms of conceptual classification into meaningful taxonomies. Little engagement with this aspect of the task.
5. Critically juxtapose concepts and evidence into a meaningful argument. 20 An outstanding level of critical juxtaposing of concepts and evidence into a meaningful argument. An excellent level of critical juxtaposing of concepts and evidence into a meaningful argument. A good to very good level of critical juxtaposing of concepts and evidence into a meaningful argument. A sound, competent level of critical juxtaposing of concepts and evidence into a meaningful argument. An adequate, but weak level of critical juxtaposing of concepts and evidence into a meaningful argument. Learning outcome has just been met. An unsatisfactory level of critical juxtaposing of concepts and evidence into a meaningful argument. Little engagement with this aspect of the task.

PLEASE NOTE THAT THE DESCRIPTIONS ARE TYPICAL IN THE MIDDLE OF THE GRADE RANGE.
(Adapted form marking grid developed by Margaret Price and Chris Rust, Oxford Brookes University)