ude corporate branding and position, ethics and social responsibility, engagement of stakeholders, corporate affairs, strategic thrust and sustainability (Achenbach, 107).
The main strength that the company had was that of changing the name from British Petroleum to BP and then tried to rebrand the name to Beyond Petroleum. The rebranding was a signal to stakeholders that it was focused on sustainability and the need to move beyond nonrenewable sources (Andrews, 89). The rebranding that was given to the petroleum company made it focus on sustainability and the need to move beyond nonrenewable energy sources. The company also presented itself as being committed to invest in renewable energy. This has gained a great deal of popularity among consumers and other members of society concerned about the future of the planet.
There are problems that the company has faced in its history such as bankrupting the founder due to lack of well implemented strategies that the company had. BP has also experienced controversies regarding business practices hazard to workers, damages of the environment and greenhouses gases (Andrews, 108). These factors made the company to have an image that was not good to the consumers.
BP Petroleum Company tried to position its products that support the sustainability and other social responsibility and the concern of other social responsibility. The claim that they have made is that of maintaining a product that is authentic and trustworthy (Benoit, 35). This has been put to improve the image of the company to attract more consumers.
There have been many threats that the company has experienced such as explosion that occurred in Texas injuring many people which made it guilty for violating the safety of citizens. The threat has also continues as there are other accidents that the company has involved in with the main outcome being pollution of the environment (Gurney and Company, 78).