Conduct a PESTEL analysis Essay Example | Topics and Well Written Essays - 750 words

Conduct a PESTEL analysis - Essay Example Concern for global oil consumption in future is attributable to VAT rise in UK, rising oil prices, and a decline in global oil consumption. The increase in VAT has influenced the prices of commodities resulting from crude oil refinement. Economic factors inclusive of wage levels and inflation rates interfere with an organization costs. Consequently, the profit margin for BP is affected as sales lower because of a decline in demand of these derivatives that is attributable to the 2.5% rise in VAT. Clients and manufacturers may not order equivalent amounts of the commodities resulting from crude oil refinement because of affordability. The crude index has revealed considerable rise in oil prices over the past years and is attributable to some certain events including political unrest in Egypt, Iraq and of late Libya, that is the sixth largest producer of oil. BP has invested significantly in crude oil refinement. Additionally, the political imbalance in Egypt led to an increase in price to $ 101 per barrel and ultimately to $105 per barrel after Libya unrest. These events tend to affect oil prices considerably because there is a decrease of operations within these countries and instill an element of panic buying. Additionally, oil prices may be rising but statistically, global oil consumption is ever decreasing. The last decline was in the year 1982. This would support a report similar to the latest decline as apparent in global recessions. Some argued that greener attitudes and immense commitment by political leaders to minimize carbon emissions could also have led to the decline. In 2006, BP profits declined by nearly twenty-five percent compared to the year 2005. Therefore, if the recession continues, it will harm BP’s profits because of a decline in oil consumption (Schroder 2012). BP mainly focuses on utilization of fossil fuels connected with key environmental challenges. Following the controversial rebranding and pledge to

Recorded Music a Paradigm in Transition Essay Example | Topics and Well Written Essays - 1750 words

Recorded Music a Paradigm in Transition - Essay Example Music has been a part of human civilization since the earliest times of human existence. The evolution of music over the centuries has made it an almost integral part of human life to the extent that music stars become heroes of a country and are immortalized in memory, stamps, or statues and by their very own work. From the classical producers of music like Beethoven and Bach, the rock stars of the 60s to the boy band fever of the 90s, music has been an essential aspect of art and culture for our society. However, while music is treated as art and entertainment by the majority of the public, it is also a very serious business with costs of production, marketing, distribution and development running into the billions of dollars. At the same time, there are huge profits to be made if a music venture is successful and things like concerts, videos, CDs, mp3s and several other means of accessing music mean that artists and record labels have many different avenues of making money (Daley, 1999). Undoubtedly, while other industries like the automobile manufacturing sector has been affected by technology, the music industry has possibly got the worst shock and the rude awakening of the digital age has forced the music makers to rush into a transition (Bruno, 2006).