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Describe P1 Essay

1732 words - 7 pages

In this assignment I will be comparing and contrasting the differences between BP and the North London Hospice. These are two extremely different businesses that have completely different aims and ambitions. The first major and obvious contrasts between these two companies are that BP is a limited company whereas the North London Hospice is a charity.
BP
The brief history of BP
BP's businesses are organized to deliver the energy products and services people around the world need right now. BP’s history is full of discoveries, starting in 1908 with oil found in a rugged part of Persia after a long and difficult search. Since then, discoveries large and small have fuelled their progress. ...view middle of the document...

They also come under the tertiary sector as they have branches that provide services, such as retail sales with the likes of Wild Bean Café, Castrol, Aral, ampm and also provide financial services. In fact the only business sector BP do not associate themselves with is the quaternary sector which is related to education.
Type of ownership
BP are a PLC meaning they are a company that can be sold in the stock exchange at any time, this also means they are strictly regulated and are must publish their true financial status in the economy which is understandable with the impact a company like BP has worldwide. Since BP is publicly listed this can also be an advantage for shareholders that have invested into the company as they will not lose any more money than they have invested which is highly unlikely as BP are a company that continue to grow even though they are nearly at the limit it being near on impossible to become any better!

Aim and purpose
BP’s objective is to create value for shareholders and supplies of energy for the world in a safe and responsible way. They strive to be a world-class operator, a responsible corporate citizen and a good employer.
Key stakeholders
Customers are a key stakeholder to ANY business as with no customers, there’s no business really. So BP know their customers are obviously key to their success meaning they must always be efficient in what they do to satisfy the customers at a bare minimum and considering BP have millions of customers to please they know the pressure they are working under to provide world class service to every single one of them. Employees are another key factor that play a part in the huge success story of BP, the majority of the nearly 85,000 employees currently employed at BP rarely let the company down which deserves big praise as a lot is demanded of them as they are the people helping the company satisfy the millions of customers that BP have. Finally another very important stakeholder that may be seen as important on the outside is the contractors and partners BP are in business with. They are the companies that provide stability so that BP know they can rely on these partners to be efficient and trustworthy without even the thought of doubt that they could potentially fail them, with stability will come longevity also which is a massive bonus to BP knowing they have partners that are in the complete same page as them meaning they can progress together for many years to come.
North London Hospice
The brief history of the North London Hospice
North London Hospice is a registered charity that has been caring for local people since 1984. They help those with a potentially life-limiting illness who have specialist needs. North London Hospice welcomes people from all faiths and communities within the boroughs of Barnet, Enfield and Haringey. They provide physical, emotional and spiritual care to patients and families, friends and carers.
The scale North London Hospice...

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