BP's Success Chain and Its Innovative Products in the Solar Power and Lubricating Industry
INTRODUCTION
British Petroleum (BP) is the biggest firm, known internationally for petroleum production and refinery works. It is one of the leading listed energy companies in the world, with varied interest in more than 90 nations and giving employment to more than 80,000 people The firm has its root in almost all European nations. Previously they started by concentrating more on Middle East countries, as these countries are known for rich oil mining lands. The company founded by William D’Arcy. BP has a strong reputation in US oil market. BP extended their production firm in all energy markets. Low cost was there highlight. Main income of BP comes from oil production and exploring. They had developed good source of networks and distribution chains. They have good value in share market and stock exchanges. Products of BP gained trust of people where they excelled in imparting good quality and cost effectiveness.
Drucker (1985) defines innovation as the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service. It is capable of being presented as a discipline, being learned and being practised.( Lowe and Marriott, 2006).BP has given much importance for innovation which is depicted from their new products and implication of technologies and investment in R & D. They seek operational excellence in all sectors of their production and promotion. Their innovation management is having good foundation with experts in position and every level of operations. Today it is the capability of a firm to change and bring innovations, that decides the success of firms. BP knows that the success of firm is not merely focused on how they plan ideas, but how they implement them successfully. They plans and announces their projects and the space it creates in thinking capacity and anticipation of the markets makes the launch a successful one (Trott, 2008). They understand the demands of consumers and market and
British Petroleum (BP) is the biggest firm, known internationally for petroleum production and refinery works. It is one of the leading listed energy companies in the world, with varied interest in more than 90 nations and giving employment to more than 80,000 people The firm has its root in almost all European nations. Previously they started by concentrating more on Middle East countries, as these countries are known for rich oil mining lands. The company founded by William D’Arcy. BP has a strong reputation in US oil market. BP extended their production firm in all energy markets. Low cost was there highlight. Main income of BP comes from oil production and exploring. They had developed good source of networks and distribution chains. They have good value in share market and stock exchanges. Products of BP gained trust of people where they excelled in imparting good quality and cost effectiveness.
Drucker (1985) defines innovation as the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service. It is capable of being presented as a discipline, being learned and being practised.( Lowe and Marriott, 2006).BP has given much importance for innovation which is depicted from their new products and implication of technologies and investment in R & D. They seek operational excellence in all sectors of their production and promotion. Their innovation management is having good foundation with experts in position and every level of operations. Today it is the capability of a firm to change and bring innovations, that decides the success of firms. BP knows that the success of firm is not merely focused on how they plan ideas, but how they implement them successfully. They plans and announces their projects and the space it creates in thinking capacity and anticipation of the markets makes the launch a successful one (Trott, 2008). They understand the demands of consumers and market and