Strategic Decision making in the Oil and Gas industry- A case of BP

Topic

Strategic Decision making in the Oil and Gas industry- A case of BP

Instructions

Discuss the Strategic Decision making in the Oil and Gas industry,

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The past few years have not been easy for much of oil and gas industry. The sector has experienced instances of low prices and deteriorating demand. As a result, the process of formulating strategic decisions and planning for the future has posed challenges of somewhat. However, recent years has seen the revival of the sector. The management intending to be consistent with the emerged improvements ought to take cautious measures in dealing with risks associated with new ventures (Biscardini & Morrison, 2017). As companies continue to realize the underlying opportunities in investing resource development, the upstream in energy sector must be undertaken cautiously. Besides the concept of prices and demand, the industry has been capitalizing on the use of alternative sources of energy in accessing more opportunities. In recent years, alternative sources of energy has been viewed as a source of long term benefits to firms applying them.

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