Strategic Management : The Oil And Gas Industry

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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 statement 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 “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 “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 “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 at
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