Introduction British Petroleum (BP) is one of the largest oil companies in the world. Its mainly involved in the exploration (of crude oil and related products), refinement and selling final products in the global market. BP mainly operates in America, Europe, Africa, and Australia. It employs more than 220, 000 people both in the United States and other countries and has more than half a million shareholders. The purpose of this business report is to analyze and evaluate the BP’s strategic position through using several technical business models. The analysis and evaluation should explain how the business has achieved its phenomenal growth and outline whether the current strategies used are appropriate to help the organization continue with its future strategy. It’s essential to understand the current intentional position of the company before appropriate strategies can be recommended and implemented. Economic Theories Retail sites   2009     2008     2007    US             11, 500  11, 700  12, 200 Europe         8, 600   8, 600   8, 600  Rest of World  2, 300   2, 300   2, 500  Total          22, 400  22, 600  23, 300  BP has integrated into the international market in terms of technology, trade, capital flows or investments. This is called economic globalization; it refers to the increase in national interdependence of economies through an increment in international trade. This is the process of promoting economic integration between economies of different countries with the aim of establishing a global market. According to Stiglitz (4), economic integration makes international trade easier through the removal of trade barriers and tariffs. This can be through protection of investors in order to promote their capital investments. With economic integration, goods and services, labor and capital find their way in the country where they are be put into maximum use. This results in economic growth and development. Increase in the mobility of factors of production faces some negative challenges because of the economic pressures in the global market. Today, the global economy has increased to significant levels and all this has been facilitated by trade agreements. The following table shows the number of retail sites operated under BP brand. Foreign Exchange Rates and Global Economic Conditions Financial markets look into international capital flows, deficits in trade and international projects. International finance can be said to be a branch in international economics that studies the currency changes and the future of international trade. In recent years the international financial market has been experiencing increases brought about by globalization. In the early 1990s the international capital flows changed from 2 to 6 % of world gross domestic product. It later increased to 14.8% of gross domestic product in 2006 (Stiglitz, 23). Nations with advanced economies have benefited from these increases and some from the developed countries have benefited from financial integration. The foreign exchange market is a worldwide financial market that is used in trading currencies. It aids international trade by allowing businesses to change their currenc