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Complete 12 pages APA formatted article: Doing business globally and internationally.
Complete 12 pages APA formatted article: Doing business globally and internationally. Seemingly, its merger with the Russian TNK has faced distinct challenges. It is against this background that this paper reviews the implications of the TNK-BP deal from varied perspectives. Part A Question 1: In order for an organization to perform optimally in an international environment, Thomas and Inkson (2009) posit that it needs to actively engage the locals in its operations. From this point of view, this can be used to explain why BP chose to enter into partnership with TNK. Partnering with a local company would enable it pursue its operations in a sustainable manner. This is because local parners understand the local environment better and can enable the company to explore emergent market niches in a timely manner. To a great extent, this was a demonstration of corporate social responsibility by the BP Company. Seemingly, TNK is comprised of local partners who are financially endowed. At this point, it can be argued that these are representative of both the majority and minority factions of the corporate community. In his research, Peng (2003) cites that a more inclusive approach to partnership by international firms yields better outcomes. By including partners from diverse backgrounds, BP sought to minimize market resistance and explore any opportunities optimally. In return, the locals would have a chance to share in the economic benefits of the company. Another reason that influenced BP’s decision to partner with TNA pertains to the financial stability of its members. From a theoretical point of view, Peterson (2004) argues that in the current business environment, a financially stable partner is comparatively more desirable than his or her counterpart. In this regard, some of the partners in TNK are reportedly billionaires with global investments. A typical example in this regard is the Russian tycoon Vekselberg. Arguably, it was sure about economic success and future sustenance. Thus the economic stability of these partners greatly influenced the decision of BP. The equal interests in the Verkhnechonsk, Rospan and Kovykta fields that BP had with TNK could also have informed BP’s decision to partner with TNK. Both partners contributed holdings in Russia Petroleum and SIDANCO. From these initiatives, it can be argued that they had similar economic interests. This demonstrates their interests to explore similar market niches. In this regard, BP thought it wise to invest with a partner that that had similar economic interests like him. In their review, Phatk, Bhagat and Kashlak (2008) indicate that in such an arrangement, it would be easier to make business deals and implement them accordingly. Upon merging, this would save the company significant resources that it would use to source for manpower. The fact that the two companies initially ventured in similar businesses implies that they had sufficient manpower from which they would source their human resource upon merging. Question 2: As aforementioned, the business environment from an international point of view is very competitive. Thus once and corporate agency has identified a market niche in a foreign country, it needs to take all practical measures to safeguard this.