Recommendations of Knowledge Management: Best Practices At British Petroleum Case Solution

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Recommendations of Knowledge Management: Best Practices At British Petroleum Case Study Analysis

On the basis of above internal and external analysis of the company along with the examination of various options, the business is advised to consider alternative 3. As alternative 3 would permit the business to expand in worldwide markets without any reduction in its local incomes and any wear and tear of its market position. The business could pursue alternative 1 which would make it possible for the business to focus on potential global markets rather than the local markets but as the company is extremely reliant on the local markets with 90% of its shops in the United States, there fore pursuing option 1 would result in the significant decline in company's income.

Aletrnative-1: Expanding International Brick and Recommendations of Knowledge Management: Best Practices At British Petroleum Case Solution Stores

Expansion towards global markets through opening brand-new stores in other Europe and Asian countries with closing domestic stores is although an excellent alternative for increasing the global presence of the business. The closing of domestic shops might extremely affect the incomes of the firm as above 90% of its shops are situated locally and closing those shops would ultimately minimize the earnings of the firm. Additionally, the business has a long term market position in US which can not be generated quickly in the brand-new markets. The option would assist the company to broaden in global markets in addition to the elimination of concerns raised in its regional markets related to its variety. The benefits and drawbacks for Alternative 1 are listed below;

Pros:

• Expedition of brand-new global markets.
• Increase in revenue from worldwide markets.
• Elimination of issues connected to diversity.
• Revenue diversification.
• Action towards being a strong worldwide brand.

Cons:

• Loss of comprehensive incomes from the local markets.
• Increase in competition.
• Distinctions in cultures could resulted in a failure of the brand name especially in Asian countries.
• Low profits at initial levels.
• Boost in marketing expenses to get market share.

Alternative-2: Introduction of Click and Recommendations of Knowledge Management: Best Practices At British Petroleum Case Solution Stores

With the increased patterns towards online shopping, the online shops like Amazon, Alibaba and so on could posture a severe risk to the market share of business. In this situation the company might consider presenting Click and Recommendations of Knowledge Management: Best Practices At British Petroleum Case Solution stores. These stores with a low requirement of funds to settle would enable the company to reach international markets, without ending its domestic stores.

Pros:

• Low financial investment
• Minimizing competition hazard
• Access to the world markets
• Enlarging customer base
• Easy to handle
• Big Incomes
• Low Operating Costs
• Easy new market entrance

Cons:

• Threat to the market position
• Removal of brand Individuality
• Elimination of the fantastic shop experience.
• Danger of decrease in elite sales.

Alternative-3: Expansion towards International Markets Without closing Domestic Stores

Another option that the company might consider, is to expand towards the global markets without closing its domestic shops that adds to the huge part of earnings of the business. The pros and cons connected to Alternative 3 are provided listed below;

Pros:

• Reducing competition risk
• Access to the world markets
• Enlarging customer base
• Large Revenues
• Expedition of brand-new worldwide markets.
• Boost in earnings from worldwide markets.
• Earnings diversification.
• Action towards being a strong international brand name.

Cons:

• Extension of issues connected to diversity.
• Differences in cultures might led to a failure of the brand specifically in Asian nations.
• Low revenues at preliminary levels.
• Boost in marketing expenses to gain market share.



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