Strategic Alignment of Transport Collaboration †MyAssignmenthelp

Question: Discuss about the Strategic Alignment of Transport Collaboration. Answer: Introduction: BP Australia operates its business within Oil and Gas Services Industry and is involved in manufacturing and distributing petroleum services and products. The firm was established n 1919 and is situated in Melbourne Australia that operates as a subsidiary of BP Plc. The company is involved in upstream exploration, crude oil and natural gas refining, downstream marketing supply of necessary fuel, lubricant and bitumen products (Al-Dajani et al. 2014). The company offers services and products to its consumers all over Australia. The company is involved in exploration and manufacturing of oil, natural gas, liquefied natural gas along with transportation, refining and marketing of lubricant or petroleum products. BP Australia transports refined as well as unrefined products to and from terminals and refineries along with the consumers employing gas carriers, ships, pipelines, trains and trucks. The company offers its goods to retail and commercial consumers from several industries includ ing aviation, racing and retail service stations in (Australia bp.com. 2018). Oil and gas services industry in Australia is robust that has resulted in substantial growth over the past twenty years. In the industry the local organizations great considered to develop its deep and remote resources in order to attain expertise in exploration and drilling technologies, engineering and design along with operations and maintenance. The oil and gas industry of Australia has a global reputation in order to deal with challenges associated with remote location of its resources along with social and environmental challenges. Education and training ability of Australia is also vita to global competitiveness of its oil and gas industry (Browne et al. 2016). Since the 1965 drilling of first offshore well and with the modern coal seam gas boom, the industry has generated and sustained internationally respected, innovative services and technology. This is built around the huge number of oil and gas projects. Competitive Strength Analysis of BP Australiaand its Rival companies - Caltex and Shell Competitive strength of BP Australia along with its rival companies such as Caltex and Shell is evaluated. BP Australia has competitive strength is in its exceptionally developed business model. To maintain its competitive and sustainable position, the company has maintained diversified portfolio all across business, geographies as well as resource types (Busch and McCormick 2014). Developing the upstream and downstream businesses and properly established trading capabilities can support in mitigating the impact of lower commodity pricing cycles. The company has competitive advantage of maintaining balanced portfolio with advantaged oil and gas along with dynamic investment strategy offers with resilience. On the other hand, competitive strengths attained by Caltex include an efficient supply and marketing infrastructure that had facilitated the company in attaining a competitive edge. Moreover, a fast successful growth in the marketing business has also resulted in its profitability increase. Board service and product portfolio including diesel, biofuel blends, precision spray oils and marine fuels facilities in decreasing risks associated with one field and attain revenue from a number of diverse sources (Caltex 2018). The company also has competitive strengths in having efficient refining output results supported by stronger refinery margins, plant reliability advantages along with having decreased depreciation charge. This has also resulted in the companys financial success. Competitive strengths of Shell Company include strong market position, strong exploring capability, vertical integration along with strong research and development. The company has always attempted to improve its technologies for carbon footprint decrease along with developing methods to explore more fuels in decreased effort. It is also gathered that the company is associated with exploration and production (Chan, Cameron and Yoon 2017). Moreover, in downstream market it is associated with marketing the refined products. The vertical integration offers high competitive advantages in aspects of cost benefits and quality control. Key Success Factors for the Industry Key success factors that are present in the oil and gas industry in Australia include product features, reputation and goodwill, financial strength, technological services and distribution network. The product features of diversification are deemed to be important in decreasing business risks encompassing anticipation of oil price fluctuation. Spread out location of the oil and gas reserve might facilitate in decreasing business interruption risk (Chang, Hsieh and Chen 2016). Another key success factor that is important in the oil and gas industry is the financial strength. This evaluation encompasses an analysis of management policy, strategy and philosophy towards the financial risk. This also encompasses analysis of financial targets of the management, hedging and certain other policies in an effort to decrease overall risks of a petroleum company. Management of the liabilities of the petroleum companies are also reviewed in a better manner (Chuang and Yang 2014). Reputation and goodwill is another key success factor as the petroleum industry for long time has been an industry where discretionary decisions such as concessions or license awards have been vital. Reputation is also deemed as a vital factor in measuring success of the petroleum industry. Technological services acts as one of the key success indicator in the petroleum industry as for attaining competitive advantages within the industry. The industry measures success of the companies operating within it through analyzing how well they are maintaining technologically advanced supply industry. Distribution network serves as another key success indicator in the petroleum industry. This is for the reason that competitive advantages can be attained from several activates performed by the petroleum companies operating within the industry through generating and delivering value (Fryer, Antony and Douglas 2015). Value chain maintenance is one of the major key success indicator this makes the way in which the petroleum companies maintain relationship between the shop and the consumers. Competitiveness of BP Australiaagainst its Rivals The effectiveness of the key success factors for BP Australia Company along with its ratings are provided on a rating scale of 1 to 10. The rating that is provided with be summed up for each company in order to realize the ways in which all the key success factors are attained by these companies in attaining a competitive advantage (Guo, Liu and Liu 2016). Key Success Factors BP Australia Company Caltex Company Shell Company Product features 10 9 7 Reputation and goodwill 7 5 10 Financial strength 10 8 5 Technological services 7 5 8 Distribution network 6 8 9 Total 40 35 39 From the evaluation of the key success factors of these companies it has been gathered that BP Australia has efficient product features that serves as its major success factor within Australian oil and gas industry. The products features of this company is deemed to attain competitive advantage over Shell and Caltex Company for there are efficient forms of gas to liquids fuel along with other products. Shell Company has better success factor in goodwill and reputation. BP Australia is in the second position compared to its competitors as its competitors have adopted better environment reforms as an aspect of their reputation management strategies. Financial strength of BP Australia is better than its competitors that serve as one of its major success factors. This is for the reason that the company has maintained better liquidity along with effective capital resources. Technological services offered by BP Australia are situated in the second position in comparison to its competitors. This is for the reason that the company offers a wide range of technical services and expertise that focuses on enhancing health, safety along with companys performance in the industry. Distribution network of BP Australia is not much better than its business rivals. This is for the reason that it operates within downstream fuels it has diverse fuel sources, domestic refineries along with its fuel distributors. Strategy Selection Based on Competitive Position in the Market In order to attain competitive advantage over Shell and Caltex Company, BP Australia is recommended to implement certain defensive strategy based on the effectiveness of its key success factors. In following this strategy, the company will try to develop a balanced portfolio with having competitive downstream along with low carbon future maintenance (Irjayanti and Azis 2015). Another effective defensive strategy that can be implemented by the company is hybrid strategy that indicates the company must operate its business in a low cost based environment. The company must also focus on reinvesting in low price along with differentiation in business operation. In order to sustain its competitive position as one of the most established petroleum organization, it must employ hybrid strategy (Kayikci, Bartolacci and LeBlanc 2018). It must also consider following this strategy in the long term for the reason that it can facilitate the company in attaining differentiation along with a price which is lower in comparison to the competitors of BP Australia. Over the years, the company must also consider undergoing major rebuilds of CDU in order to process heavy crude along with its efficient manufacture. Technological success factor can be improved by the company through maintaining effective new world scale sculpture removal along with gas oil hydro treating units. The focus of this strategy is relied on profit growth along with application of alternative energy. This defensive strategy if implemented by BP Australia can facilitate in developing leading technologies along with effective consumer relationships (Lee, Kim and Hong 2017). Resources and capabilities of the company must also change gradually that can result in increased investments and profits with increased oil prices. Peer Evaluation Form Name of each group member is motioned within the peer evaluation form. For each group member the extent to which they agree with the statement mentioned within the peer evaluation form is measured using scale of 1-4 (1=strongly disagree; 2=disagree; 3=agree; 4=strongly agree). Total of these numbers are also calculated in each column. Evaluation Criteria Group member: Group member: Group member: Group member: Attended every group meetings regularly and arrives within time. 4 3 2 4 Contributes meaningfully within the group discussions. 3 4 4 4 Attaining group assignments within time. 3 2 4 4 Accomplishing work within a quality manner. 4 4 3 3 Indicates a cooperative and supportive attitude. 2 4 3 3 Contributes considerably to the project success. 3 3 4 3 Totals 19 20 20 21 Feedback on team dynamics: The group was deemed to be efficient in attaining the objectives of the report. This group work facilitated them to get involved in developing the process of evaluation. This might encompass maintaining their establishment on attaining advanced and deep understanding of the subject contents, processes and skills. This can also encompass evaluating individual assessment criteria by methods of consultation with teaching staff (Park, Chang and Kang 2015). The major aim of the report was attained by the group that increased their advanced and deep learning of key success factors within the petroleum industry. The group work encourages increased group involvement as well as responsibility. The group attained great success in attaining the report objectives through goal setting. The behaviors of the group members were valuable and detrimental to the performance of the team in attaining project objectives. The team attained good points in the fair work sharing. There was a sense of equity and fairness within a good team member. There was also a sense of equity that has greatly vital for collective motivation of the team members. The team members efficiently identified key success factors that are present in the oil and gas industry in Australia includes product features, reputation and goodwill, financial strength, technological services and distribution network (Soetanto et al. 2015). From accomplishing this report, the group members learned regarding the key success factors that are present in the oil and gas industry in Australia. This includes product features, reputation and goodwill, financial strength, technological services and distribution network. The team has also considered enhancing future analysis of the petroleum industry performance based on few more key success factors. References Al-Dajani, H., Dedoussis, E., Watson, E. and Tzokas, N., 2014. Graduate entrepreneurship incubation environments: A framework of key success factors.Industry and Higher bp.com., 2018Education,28(3), pp.201-213. bp.com., 2018. [online] Available at: https://www.bp.com/en_au/australia.html [Accessed 3 Apr. 2018]. 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