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Exxonmobil cababilities
Exxonmobil cababilities
Exxonmobil cababilities
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Description
ExxonMobil is the biggest and most powerful international Oil and Gas Company in the world. They hold a major share of the global oil and gas resources, specializing in marketing and refining petroleum products. ExxonMobil characterizes themselves, as a technology firm pursuing superior ways to deliver energy for the world. This amazing company has been a leader in the energy industry for over 100 years. The company has several divisions and hundreds of affiliates with names that include ExxonMobil, Exxon, Esso or Mobil. Together they market products all over the world. Safety is the main concern and issue for them; this value is indoctrinated to ensure long-term sustainable performance. These values are also reflected in the company’s business model with objectives of meeting the world’s growing energy demands. Exxon has a very diversified workforce; they recruit and employ the best people from all over the world. They believe that a diversified workforce is essential for providing them with a competitive advantage. Lastly, Exxon regards community and society in the organization as fundamental. The success of the company comes down to being able to interlink business discipline and corporate citizenship. This report will provide an analysis of the internal and external factors involved around Exxon.
External Analysis:
This industry is composed of four major segments: upstream, midstream, downstream and Service. Upstream is the process of getting the crude oil out of the ground; it is often referred to as E&P or Exploration and Production. The next segment is Midstream; this step is the collection and transportation of crude oil, natural gas by ways of pipelines, tankers and railcars to their destinations downstre...
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...ills. This model has been successful for ExxonMobil the world over. The overall goal is that developing business units in Africa will one day be able to offer technical expertise in support of new business developments elsewhere. The organizational structure is very large. At the very top there are the cooperate leaders: Rex Tillerson is the chairman & CEO, directly below him are his three Senior V.P’s and Treasurer, held by Mark Albers, Michael Dolan, and Donald Humphrey. ExxonMobil has a very functional organizational structure very similar to a university. Below the corporate leaders are the different sub companies such as Exploration, production, development, refining & supply, lubricants and petroleum specialties, fuels marketing, and research & engineering. Each sub company equipped with its own: president, HR, marketing, accounting and engineering division.
ExxonMobil is an American international oil and gas corporation. The company’s financial perspective focuses on improve the values of the company and growth in sales revenue.
Prior to the year of 1999, Exxon and Mobil were the two largest American oil companies, which were direct descendants of the John D. Rockefeller’s broken up Standard Oil Company. In 1998 Exxon and Mobil signed an eighty billion dollar merger agreement in hope to form Exxon Mobil Corporation, the largest company ever created. Such a merger seems astonishing, not only because it reunited parts of Rockefeller’s Standard Oil Company, but also because it would be extremely difficult for the Federal Trade Commission (FTC) to approve this merger due to its size and importance in the oil market. In fact, it took the FTC an entire year after the merger was proposed to make a decision due to its rigorous analysis in the product and its geographic market, the concentration of the oil market, the potential anticompetitive effects of the merger, the effects towards their growth and labor force, and lastly, the likelihood of entry and the efficiencies that may affect anticompetitive concerns. Although all of these notions are played a role in the analysis of the merger, it is important to remember that the merger’s result efficiencies did outweigh the the anticompetitive risks that were involved, especially since the oil market was headed towards decreasing prices to expand production.
The Shell Oil Company involves a group of energy and petrochemicals companies that operate globally. Shell employs over 92,000 employees and operates in more than 70 countries and territories. Shell is considered a prominent gasoline provider, offering products that range from energy fuels, lubricants for businesses, and petrochemicals for detergents, packaging, carpets, and computers. The Shell corporation is also making strides to embrace renewable energies “by creating hybrid energies with traditional fuels such as natural gas” (Shell Global, n.d.). Shell is building hybrid power plants that combine renewable energies, including those produced by sun and wind, with traditional fuels. By investing in emission-free energies, Shell seeks to improve its operations and competitive posture as renewable technologies advance.
We have been engaged to audit the financial statements for Exxon Mobil Corporation (ExxonMobil) and assess the effectiveness of their internal controls for the fiscal year ended December 31st, 2010 in compliance with the laws of the state of Texas and the standards set forth by the Public Company Accounting Oversight Board (PCAOB). In the previous memo sent, we outlined the client’s high inherent risk due to the account balances and transactions, foreign currency translations and the complexity of accounting for and auditing the client’s vast oil reserves and inventories. This memo will address preliminary assessment of control risk and the appropriate level of detection risk given the forgoing conclusions on inherent risk, audit risk and control risk.
Since its discovery back in the year 1858 crude oil has been become one of the most sought after resources on the face of the planet. It is due to this fact that the oil industry has fallen into a rather odd category in the case of globalization and seeking out new markets, new labor and new customers. The reason being that the need for crude oil and fuel is always present therefore the product of oil in its basic sense sells itself and the companies do not have to go out and publicly advertise it in the sense that clothing lines and other commodities do. Oil companies must focus more on the matter of why an individual should buy their oil and along with other alternative fuels over their competitors even though in the end the companies products are the same thing. The company ExxonMobil has been the superior company in the oil industry for quite sometime now, and had plenty of success as individual companies before their merger in 1999. The reason for there success is partially due to the power they wield as the most successful company, leading to many new refineries around the world, making deals with smaller companies to gain access to new markets and are leading the world in alternative fuel research. However these things all come naturally to the biggest oil company in the industry, the real question is how they became the powerhouse they are now. That question can be answered by the way in which the company has not focused in globalizing their product of fuel and oil, but globalizing the image of the company company. This is achieved by focusing on charity in which they donate hundreds of millions of dollars, Foreign Direct Investment in areas in which they wish to expand by attempting to provide these impoverished areas wit...
It includes the organization 's vision, values, norms, systems, beliefs, and habits. Though the challenge of changing the organizational culture at GM is complex, it is not unattainable. In order to achieve its desired public image and to acquire an organizational identity centered on quality and safety, qualitative research on GM’s culture could be facilitated. Intertwined with the study of organizational culture is organizational citizenship behavior (OCB), which is the performance that supports the social and psychological environment in which task performance takes place. OCBs were found to be positively related to overall organizational effectiveness, unit-level performance and customer satisfaction (Greenberg, j., 2013). A study of the OCB in GM may help in the change it aims to implement. GM may start by creating an environment where its employees are truly committed to its safety policy while also increasing their job satisfaction. Organizational justice and motivational theories, like the equity theory, may be used to attain this (Greenberg, J., 2013). Since GM seeks to make their employees speak up, it may come up with a system where those who speak up will not only be recognized but will also be rewarded with both tangible and intangible
The industry is divided into three distinct sectors including the upstream, midstream and downstream sectors. The upstream sector includes the exploration and production of crude oil as well as the exploration and production of natural gas. This sector has experienced the largest amount of deals in terms of mergers and acquisitions, which will be further discuss in section III. The midstream sector involves the transportation of extracted petroleum from the upstream sector through pipelines, rail, barge, truck as well as storage. Finally, the downstream sector connects the end consumers through derived products such as gasoline, liquefied natural gas (LPG), liquefied natural gas (LNG), kerosene (aircrafts), and diesel…
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
There is a link between corporate social responsibility and the key principles of the stakeholders, which a company should follow to be responsible to its stakeholders. The first stakeholder is environment and the key principle used for it is not damage the environment for example, recycling, dealing correctly with their wastes and emissions. The second stakeholder is the employees. The key principle for the employees is companies providing safe and health working conditions for their staff. Moreover, the employees earn an appropriate salary for ...
Seven levels of power are addressed in our text and Stanard Oil most prevalently possessed the economic, political, and legal power to control the oil industry (Steiner & Steiner, p.60-61). Standard Oil could acquire the competition and force those who resisted into bankruptcy. This consolidation was a detriment to the economy, but at the same time, Standard Oil built facilities and employed individuals that benefited the economy.
MSCI, a budgetary investigation firm with extraordinary aptitude in surveying the estimation of intangibles like carbon hazard, examined the petroleum business'execution in five key classifications: operations, wellbeing and security; capacity to get to assets in developing markets; carbon discharges; interest in option vitality; and interest in unpredictable fossil powers like oil sands and oil shale, coal bed methane and coal crease gas, and both gas-to-fluid and coal-to-fluid energizes.
It will give the definition of the phrase and identify some of the global factors that require corporate social responsibility. The importance of companies establishing corporate social responsibility projects and the impact they have on society will be discussed. The two companies that will compared are Amazon and Exxon. These businesses are both very similar in their notoriety as well as their success but much different in the aspect of social responsibility. Study of Exxon
The aim of this report is to apply the theoretical and practical ideas of corporate reputation and corporate social responsibility presented in this course to the organizations in the same industry.
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
In this section of the report, I will be discussing the meaning of corporate citizenship. I will be explaining how companies can be considered good corporate citizens and taking into thought Corporate Accountability, Corporate Governance and the 3 Pillars of Sustainability, and why companies would need to change the audit model.