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Prize winner
Case
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Reference no. 302-033-1
Published by: London Business School
Published in: 2002
Length: 28 pages
Data source: Field research

Abstract

In 1992, BP was facing an acute crisis that had led to the removal of its CEO, Bob Horton. Over the next ten years the company had undergone a complete metamorphosis. From being a relatively minor player, through a series of mergers and acquisitions, it had emerged in 2001 as one of the three oil supermajors, triggering a fundamental change in the structure of its industry. Financially, it had achieved the highest returns on capital employed of all major oil companies and was earning profits in excess of a billion dollars every month. This case describes how this remarkable transformation was achieved through fundamental changes in the company's organisational structure, management processes and leadership philosophy. The case ends with a description of the challenges being faced by the company at the end of 2001, and management's responses to those challenges.

Time period

The events covered by this case took place in 2001.

Geographical setting

Region:
World/global

Featured company

BP
Employees:
10000+
Industry:
Oil and gas

About

Abstract

In 1992, BP was facing an acute crisis that had led to the removal of its CEO, Bob Horton. Over the next ten years the company had undergone a complete metamorphosis. From being a relatively minor player, through a series of mergers and acquisitions, it had emerged in 2001 as one of the three oil supermajors, triggering a fundamental change in the structure of its industry. Financially, it had achieved the highest returns on capital employed of all major oil companies and was earning profits in excess of a billion dollars every month. This case describes how this remarkable transformation was achieved through fundamental changes in the company's organisational structure, management processes and leadership philosophy. The case ends with a description of the challenges being faced by the company at the end of 2001, and management's responses to those challenges.

Settings

Time period

The events covered by this case took place in 2001.

Geographical setting

Region:
World/global

Featured company

BP
Employees:
10000+
Industry:
Oil and gas

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