Strategic Management The Oil And Gas Industry - 1638 Words

Strategic Management It is evident that one of the most important industries in the world is the oil and gas industry. This industry has a major impact on everyone’s lives by providing services such as transportation, heating, electricity fuels, blacktop, lubricants, and propane. The oil and gas industry also has an influence on national security, elections, geo politics, and international conflicts (Inkpen and Moffett). The prices of oil and gas are the most closely watched prices in the global economy (Inkpen and Moffett). This paper will go into detail on various topics that relate to strategy. In recent years, oil and gas companies must be on board with changing their business model in order to stay competitive in the market place.†¦show more content†¦This will help companies in this competitive industry to be able to help determine the company’s direction. This statement will also help motivate, and provide an image of the character of the company. Below is the mission state ment for Exxon Mobil that was provided on their website. The statement is broken down by how they look to build their relationships with their shareholders, customers, employees, and communities. The mission statement for Exxon is a strong indicator that they are committed to success and that they focus on every aspect of interested parties. Exxon Mobil Mission Statement â€Å"Exxon Mobil Corporation is committed to being the world’s premier petroleum and petrochemical company. To that end, we must continuously achieve superior or financial and operating results while simultaneously adhering to high ethical standards† (Exxon). Shareholders â€Å"We are committed to enhancing the long-term value of the investment dollars entrusted to us by our shareholders. By running the business profitably and responsibly, we expect our shareholders to be rewarded with superior returns. This commitment drives the management of our Corporation† (Exxon). Customers â€Å"Success depends on our ability to consistently satisfy ever changing customer preferences. We commit to be innovative and responsive, while offering high quality products and services atShow MoreRelatedStrategic Management of Uk Oil and Gas Industry3911 Words   |  16 PagesSTRATEGIC MANAGEMENT OF ANALYSIS OF UK OIL AND GAS SECTOR 1.0 INTRODUCTION 1.1 UK OIL SECTOR OVERVIEW The oil and gas industry is a large Industry and contributes a critical role in driving the global economy (Sam’s et. al., 2006).The upstream section of the Industry is involved with the first stage of exploration and production, the midstream section involves the transportation of crude through pipelines, ships e.t.c to the refineries. The downstream is involved with refining and process of theRead MoreGranite Oil Corporation Case Study1336 Words   |  6 PagesExecutive Summary: This report outlines Granite Oil Corporation’s key strategic objectives and mission for value creation, external environment, organizational design, its competitive advantages, applications to course material and comparisons to other similar companies it is in competition with. Table of Contents Introduction Granite Oil Corporation is a relatively small public corporation dealing in exploration for andRead MoreStrategic Management Analysis of Saudi Aramco Ltd.1671 Words   |  7 Pagesreport and oblige us thereby.    On behalf of the group ‘Jeener Badshah’    With Best Regards, Plaban Roy. Id. No. 11-94732-2. MBA Course: Strategic Management. Section: A. Department of Business Administration. Contents of term-paper as follows: 1. Acknowledgement Letter 2. Executive Summary 3. Definition of Strategy 4. Most Strategic Management Model 5. Company Detailed Profile including mission amp; vision and Organogram 6. PESTEL, SWOT and Porter’s Five Forces Analysis Read MoreRole Of Predictive Analytics For Asset Optimization Of Oil And Gas Industry Essay980 Words   |  4 PagesRole of Predictive analytics in Asset Optimization in Oil and Gas Industry In recent times, Predictive analytics has started to play an important role in asset optimization in various industries. One such industry which is highly asset intensive is the oil and gas industry, a capital intensive and equipment heavy industry with lot of scope for improvement in asset management, supply chain network optimization, and operational management with its multiple assets ranging from drilling rigs, wells inRead MoreThe Oil And Gas Industry1662 Words   |  7 PagesOne of the most capital intensive and globalized industries is the energy sector because of its operations that are inherently complex. As such, the oil and gas projects experience overruns of costs that exceeds 100 percent at times, which have created the need for adoption of new contracting strategies (Schramn, Meibner, Weidinger, 2009). The risks in most cases are contractually distributed and shared among the energy project stakeholders instead of leaving it to the owner. Some of the risksRead MorePro duct Management Using Boston Matrix Tool With Product Life Cycle Management Essay808 Words   |  4 PagesProduct Management Using Boston Matrix Tool with Product Life Cycle Management INTRODUCTION: Oil and gas theft and spillage along pipelines are caused by two major phenomena: damages and ruptures. However, pipeline damages are mainly due to sabotage. Due to diminished pipeline and aging process of the pipes there will be ruptures in pipeline. In Nigeria oil and gas theft and spillage occurs due to a number of causes which include corrosion of pipeline and tankers, sabotage, oil production operationsRead MoreThe Energy Industry And Its Human Resource Crisis1457 Words   |  6 PagesThe Energy Industry and Its Human Resource Crisis Addressing the Talent Gap S. Monique Thomas University of Mary Abstract In the energy industry a crisis is on the horizon. The increase in demand for electricity and natural gas, the aging workforce and demographics, all play a role in the increased need to have talented and skilled employees. There is a talent crisis and it is becoming increasingly difficult to obtain and maintain talented people. Even with a turbulent economy, today’s energyRead MoreThe Nigeria Petroleum Corporation898 Words   |  4 Pagesdefinition, a business cannot operate in an area with little or no activity. This report will examine the relationship NNPC capabilities and environmental influences using PESTLE models. PESTLE Analysis is an analytical tool for strategic organizational planning. PESTLE is a strategic scheme for understanding external influences on a business. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental (Worthington Britton, 2009). It also concentrates on one of the biggestRead MoreFIN 370 Week 3 Strategic Inititative Paper Final Draft 1185 Words   |  5 Pagesï » ¿ Strategic Initiative Paper Connie Addison, Christine Crocker Kimberly Guy, Felicia Lombard, and Shavelle Woods FIN 370 January 26, 2015 Shamelda Pete Strategic Initiative Paper ExxonMobil is identified as one of the world’s leading oil and gas businesses. It manages market commodities and means countrywide. ExxonMobil is entail in â€Å"marketing, gas, and oil exploration, transportation and production in roughly 200 nations† (ExxonMobil, 2015). This company furnishes assistance and productsRead MoreOil and Gas Ohs1703 Words   |  7 PagesSAFETY AND HEALTH MANAGEMENT SYSTEM IN OIL AND GAS INDUSTRY Author : Subhrajit Bose Managing Partner / Lead Architect Sustainability – NextLink Solutions 3 2 1 Introduction: Safety and health management is one of the vital constituents of Oil and Gas industry activities because most of the operational conditions, chemicals and end products (hydrocarbons and other compounds) associated with Oil and Gas production are well known to pose serious safety and health threats to the workers