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In BP SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. SWOT Analysis is a proven management framework which enables a brand like BP to benchmark its business & performance as compared to the competitors and industry. State-backed company presence-An article by the Economist stated that state-backed firms dominate the oil industry. BP is a private oil company and is not a part of the state-backed firms that control 80% of the world’s oil. This is a concern for BP because they have little say in the price of oil, as seen over the past few years.

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