Monday, December 09, 2019
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BHP Billiton: Natural resources and the economy: Planning for successful growth

Natural resources and the economy: planning for successful growth

This Case Study examines the dynamic nature of both the natural resources industry in general and one of its key players - BHP Billiton. It focuses on how BHP Billiton manages the complexities of stakeholder interest through well-developed programs, policies and strategies for growth.

As a result of reading this Case Study, students should be able to:

  • Appreciate the importance of natural resources to the Australian economy
  • Understand the complexity of a global resources business
  • Identify strategies & processes to manage in a dynamic environment
  • Appreciate the need for the natural resources industry to balance economic competitiveness, social responsibility and environmental stewardship.

Introduction

Successful economies depend on vibrant and growing industries.

The natural resources industry in profile

According to the Australian Bureau of Statistics (ABS), mining is defined as 'the extraction of minerals occurring naturally as solids such as coal and ores, liquids such as crude petroleum, or gases such as natural gas'.

A major industry player in action

Within the Australian and global resources industry, BHP Billiton is the world's largest diversified resources company.

Keeping in touch with the community

Community expectations of industry have changed greatly in recent years, particularly in relation to sustainable growth.

Valuing customers

The needs of the external customer drive businesses.

Valuing employees

Developing a world-class professional workforce is vital to the Australian minerals industry as global demand increases for minerals.

Responding to a changing business environment

The external environment for global companies is dynamic. Changes occur at local, national and global levels.

Conclusion

The significance of the resources industry to the Australian economy is undeniable.

 

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