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Complete 10 page APA formatted essay: BHP Company.An operation in an organization needs a plan to be built so as to achieve the targeted goals within a definite time. The plan is otherwise known as st
Complete 10 page APA formatted essay: BHP Company.
An operation in an organization needs a plan to be built so as to achieve the targeted goals within a definite time. The plan is otherwise known as strategy. A successful strategy in management strategies are identified and carried out by managers and these leads to overall better performance and advantaged competition for their respective companies. Among the world’s largest mining and resources companies, there is no doubt that BHP is on the list. Apparently, BHP is undisputed in today’s mining and resources companies. BHP is said to be highly competitive because it is more profitable compared to other companies in its industry. According to O’Shannassy (2008, p.176), BHP company has done a good job maintaining its competitive advantage. Strategy in management deals with the evaluation and controlling of a business. Though the future of business is either predictable or unfeasible, it can be planned for. High levels of knowledge are required of the managers. They should analyze the competition and the general business environment. With substantial knowledge, the right decisions are made and the right course of action taken. In this study, SWOT and competition analysis are going to be conducted and proven to be of great importance to the BHP Company. Strategies For a business organization to out and achieve its designed objectives it must have a plan, business strategy. Business strategy is mainly concerned with issues related to resources such as raising funds to build stores and allocation of resources according to priorities. The scope of businesses also falls under the business strategy. It determines what the company will produce and where. Teece, (2010, p.180) confirms that strategy is an important aspect of a business since it helps the business organization in competition preparation. BHP company’s strategies are well laid down thus maximize profits. Over time, BHP Company has gradually developed a structured approach that enables it to improve productivity in a continuous manner and measure its performance by the use of metrics, simply integrated. .Corporate strategy Corporate entails predicting and adapting (Freeman & Mcvea, 2001, p.6). Particular organizational goals are achieved through various ways in which the overall scope and direction of a corporation work together. To create the most value in a firm, portfolio approach is advised in any corporate strategy. Leaders in BHP Company focus on several important aspects of corporate strategy. The management determines the best way to allocate resource in various business units. Competent workers are evenly distributed across their chain. The type of management is based on priorities, where it is most needed. Opportunities are also critically analyzed and capital is allocated. BHP Company is also designed in a way that the head office decisions are made top down. Portfolio management manages the risk through diversification and seeds emerging opportunities that could be heavily invested if appropriate. It can also monitor competition and ensure that market trends are well balanced. Corporate strategies mainly focus on risk management and return across the firm. Optimization of these factors leads to the creation of a portfolio in BHP Company. Business strategy The look of a given company after some years is entirely determined by business strategy. If the strategy is clearly defined, achievement and development of growth will be easy. Goals will also be met both as an entrepreneur and business leader. BHP Company business strategy helps it to build its strengths, to make most of its strengths so as to keep afloat among competitors. It also clearly outlines the requirements that need to be met to hit a business target. Strategy choices can at times be determined by interactions between business organizations (Peng et al., 2008, p. 922). .  .
