With the industrial revolution playing out the way it did, humankind’s dependence on energy has grown exponentially since the 18th century. Without energy, all our machines would grind to a halt. The continued supply of oil, natural gas, coal, and other resources has facilitated the march of progress. Thus, were born the world’s major oil conglomerates. The 21st century brought on its own set of problems in the form of global warming and climate change. Our energy industries had to adapt in the face of both popular opinion and environmental necessity. One of the companies making this transition from non-renewable to renewable is British Petroleum. Let us know more detail about ‘BP Mission Statement, Vision & Values Analysis’.
BP Mission Statement, Vision & Values Analysis:
How important are the values of a company?
A company’s values give weight to its brand. They are generally the first things that come to mind at a glimpse at its logo. The yellow sun of British Petroleum represents a bright future radiantly lit by its resources. When people see the green highlights mixed in around the borders, they are reminded of British Petroleum’s pledge to protect the environment and invest in renewable green energy resources. The yellow and green sun of British Petroleum induces a warm feeling in the eyes of its customers, something that is also depicted in its vision, mission, and core values. It is this feeling of comfort, familiarity, and warmth that leads to trust between the company and its customers. For British Petroleum, this includes individuals or larger entities like corporations and governments.
BP Mission Statement:
In all our activities we seek to display some unchanging, fundamental qualities – integrity, honest dealing, treating everyone with respect and dignity, striving for mutual advantage, and contributing to human progress.
1. Unchanging fundamental qualities:
Being a century-old, British Petroleum recognizes the importance of consistency, especially given their area of expertise, natural resources. Today our world operates on natural resources. They fuel our cars and planes, light our homes and run our industries. Energy suppliers and generators need to maintain a constant supply of the same to win their clients over in such a volatile industry. Energy corporations are often accused of political lobbying and shady business to achieve mind-boggling profits. British Petroleum’s mission statement outlines its commitment to fair business practices and sustainable growth and progress. This promise is in accordance with their centuries-old reputation of doing what they do best.
2. Striving for mutual advantage and contributing to human progress.
British Petroleum believes that the march of human progress must be shared and that the exploitation of natural resources, renewable or otherwise, is beneficial to everyone. It places a high emphasis on working with cities and people from various communities resulting in social mobility and change for everyone.
BP Vision Statement:
To have the best competitive corporate, operating, and financial performance. To improve and to be accessible, inclusive, and diverse.
1. Best Performance:
British Petroleum is recognized as a supermajor in the oil and energy sector. Their success in the industry is very obviously driven by their vision and ability to perform at the highest levels. This assurance in their operations and the quality of their products is what British Petroleum hopes to continue into the future. They hope to raise the bar for the entire world not only via their products but also by their practices and green energy, net-zero standards. They envision a reality wherein the progress of humankind is fuelled by healthy competition driven by increasing standards of energy production.
2. To improve and to be accessible, inclusive, and diverse.
Greater access to clean energy means a greater quality of life and standards of living. This, in turn, drives people to innovate and makes the world a better place. British Petroleum also recognizes the transformative power of economic progress. They hope that innovation and sustainable development will overcome social barriers like caste, race, and gender. They hence believe in a truly free, open, inclusive, and diverse workplace. This will help drive social change and help the company and its employees improve, hence resulting in greater benefits for them. British Petroleum also seeks to improve its brand value by striving to improve itself on these aspects.
Companies are often recognized by how well they adhere to their styles of work. A company’s values also tie into to workplace atmosphere and culture. In the competitive, politically motivated natural resources industry, these values play a pivotal role in improving a company’s image.
British Petroleum recognizes the hazards of the natural resources business, both to their customers and employees as well as to the environment. They are committed to protecting local communities and delivering sustainable solutions to all the world’s energy problems.
British Petroleum has a code of ethics and is obligated to adhere to the rules and regulations. They believe that respecting governments, communities, and mother nature itself lead to progress for everyone. Most importantly, British Petroleum believes in respecting individuals who are their final customers.
British Petroleum believes in the abilities of its employees to deliver in a complex and competitive industry. It is because of their commitment to excellence that they can dream about net-zero carbon emissions in the upcoming decades. This enables them to adapt as they have always done, thereby always remaining relevant in the industry.
Operating any business, especially an energy corporation, requires a high degree of courage and risk-taking. In the case of British Petroleum, they are not afraid of partnering with local communities and cities to find sustainable answers despite the expenses and risks associated with renewable energy. They know that taking risks is also akin to finding opportunities.
5. One team
British Petroleum also emphasizes the development of new talent and new ideas. The People and Culture department is responsible for training new recruits and aligning their goals to enable them to function as a unit. This helps breed a sense of responsibility and belonging in all employees and helps them work towards the same objective.
How the vision, mission, and values of British Petroleum have shaped its past, present, and future?
Now we have learnt ‘BP Mission Statement, Vision & Values Analysis’, British Petroleum is a company renowned for its adaptability. It is known as a company that is forever evolving with the way the world does business, and it, in turn, has also influenced the same. Revolutionizing the energy business is always a tricky task, but the continued dominance of British Petroleum is a testament to the direction provided by its values and vision. Its vision for a greener, more sustainable future appears to be possible thanks to the cohesion provided by its core values of courage, safety, and one team. The recent reshuffling of its structural management is in accordance to its mission to go carbon-neutral in the upcoming decades. It is because of its willingness to adapt, innovate, and not shy away from problems that British Petroleum will continue to be a safe bet long after we have outlived the usefulness of petroleum.