Lecturer: SWOT Analysis about Petroleum in the Kingdom of Bahrain Introduction SWOT analysis is a strategic planning tool vital for evaluating the strengths, weakness, opportunities and threats of a business venture. It also identifies the internal and external aspects, which are favorable or unfavorable for achieving the desired business objectives. The kingdom of Bahrain is the freest economy well known for abundant petroleum production. It is the tenth leading economies across the globe, which accounts for higher exportation of petroleum and increased government revenues. The large export shares for the Bahrain economy are from the exported crude oil.
The Bahrain kingdom has one largest company known as BAPCO (Bahrain Petroleum Company), which is owned by the Bahrain government. BAPCO is an integrated industry, which was instituted, in 1929 by Standard Oil industry. The company involves in oil refining, prospecting, exploration, drilling, production and distribution of gasoline products. It also exports crude oil and refined products as well as sales oil products in the global market. Therefore, the essay focuses on SWOT analysis as an effective tool for analyzing Bahrain petroleum industry, in the Kingdom of Bahrain. SWOT Analysis The SWOT analysis involves the internal and external factors that may be favorable or unfavorable in an industry.
Many companies employ SWOT analysis in order to analyze the strengths and weaknesses as well as opportunities and threats for the business venture in order to achieve their stated objectives effectively. Bahrain is one of the economies that have been impacted by the economic crisis and the World War II deteriorated the economy. The kingdom also has little petroleum wealth than other economies in the Persian Gulf neighbors.
Therefore, employing SWOT analysis will enable Bahrain Petroleum to improve their business activities; thus increasing their competitive advantage in the global market. Strength Strength is the features of the business venture that provides advantages to the business over others. Therefore, assessing the strength of the company will enable it to achieve the set objectives efficiently (Gupta et al. 123). Bahrain Petroleum industry has enabled the Bahrain economy to diversify because of petroleum products, which is the main resource for Bahrain. The company has considerably improved it is performance rate in the recent because of successful diversification initiatives and abundant oil reserve resources.
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