Exxon Mobil Oil Company

QUESTION

In this assignment, you are to use the same corporation you selected and focused on for Assignments 1, 2, and 3.

Consider the corporation you have selected to use in your first three assignments. Identify one of the firm’s major competitors that you would consider working for.
Research the corporation on its own Website, the public filings on the Securities and Exchange Commission EDGAR database (http://www.sec.gov/edgar.shtml), in the University’s online databases, and any other sources you can find. The annual report will often provide insights that can help address some of these questions.
You will do a 15 minutes presentation to the Board of Directors of the corporation. Develop an eight to twelve slide PowerPoint presentation with speaker notes or record a video based upon Assignments 1 through 4. You may choose to compare your chosen corporation to a major competitor with whom you would like to work. You will make recommendations to the Board of Directors based upon your analysis and decision on why the corporation remains or is not a good fit for you.
Determine the impact of the company’s mission, vision, and primary stakeholders on its overall success as a competitive employer in the industry.

Create a SWOT analysis for the company to determine its major strengths, weaknesses, opportunities, and threats.

Based on the SWOT analysis, outline a strategy for the company to capitalize on its strengths and opportunities, and minimize its weaknesses and threats.

Discuss the various levels and types of strategies the firm may use to maximize its competitiveness and profitability.

Outline a communications plan the company could use to make the strategies you recommend above known to all stakeholders.

Develop an executive level Power Point presentation with 8 -12 slides with speaker notes and appropriate graphics or professional video.

Assess efforts by this corporation to be a responsible (ethical) corporate citizen and determine the impact these efforts (or lack thereof) have on the company’s bottom line. Provide specific examples to support your response.

Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources.

ANSWER

Exxon Mobil Oil Company

—Impact of Company’s Mission on Success

• Exxon Mobil is committed to safely marketing and transporting petrochemical products and energy while providing customers with innovative services.
• The company has achieved immense market success through these two key aspects.

—Impact of Company’s Vision on Success

• The company is committed to becoming the best petroleum and petrochemical company in the world.
• The vision has enabled the company and its members to ensure efficient operations and high quality products production.
• Management ensures better financial performance every year to fulfill this vision.

—Impact of Stakeholders on Success

• The employees of the company are a key competitive advantage since they are highly qualified.

The shareholders provide the company with adequate finances for operations.

SWOT Analysis Strategy

Strengths and Opportunities

• The company should take advantage of its good reputation to acquire talented employees from education institutions and rival companies, improving its labor force and increasing its competitive advantage.
• Exxon Mobil should take advantage of its Research and Development team to come up with better ways of conducting its operations – innovation.

—Weaknesses and Threats

 

• Exxon Mobil should invest in training and development of new employees to improve its workforce.
• —The company should also invest in the installation of the latest technology and systems to minimize the cost of production.

Competitiveness Strategy

—Competitiveness

—The company should utilize the differentiation strategy and the low-cost producer strategy to maximize its competitiveness in the oil industry.

—Corporate level – introducing diversification and low-cost approach as the strategies to improve competitiveness, in the organizational policy.

—Business level – identification of the most profitable products and services to introduce and the various areas where cost reduction is achievable.

—Functional level – short-term objectives and goals of the introduction of new services and products will be set. Cost reduction targets will be introduced.

Profitability Strategy

—Profitability

—The company should utilize product and service differentiation, as well as cost reduction as strategies to maximize its profitability.

—Product and service diversification will increase the company’s income streams.

—Lower production costs will result in higher profit margins.

Communications Plan

—Competitiveness Strategies

—Information will be provided by word of mouth during the annual general meeting and through emails, for shareholders. For the customers, they will be informed of the improved service provision and new products through advertising.

—The employees of the company will be informed and reminded through the bulletin boards around the company and through the weekly meetings.

—Profitability Strategies

—For the shareholders – word of mouth during the annual general meeting and through emails sent to each one of them.

—The employees  – the bulletin boards around the company and weekly meetings.

Corporate Social Responsibility

—Responsible (ethical) corporate citizen

—The company recognizes the risk of climate change. It emphasizes on reduction of emission in its operations to contribute to environmental conservation.

—The company promotes biodiversity conservation by providing education to communities on the importance of conservation.

—Impact of efforts on company’s bottom line

—The company has acquired a good reputation with its customers.

—Employees are highly productive as they enjoy working for a reputable organization.

References

—Beale, F., & Fernando, M. (2009). Short-termism and genuineness in environmental initiatives: a comparative case study of two oil companies. European Management Journal, 27(1), 26-35.

—Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2013). Strategic management: Concepts and cases: Competitiveness and globalization (10th ed.). Mason, OH: South-Western Cengage Learning.

—Lovell, M. F. (2015). ExxonMobil Corporation.

—Reilly, A. H. (2009). Communicating sustainability initiatives in corporate reports: Linking implications to organizational change. SAM Advanced Management Journal, 74(3), 33.

—Salavou, H. E. (2015). Competitive strategies and their shift to the future. European Business Review, 27(1), 80-99.