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ExxonMobil is an American multinational oil and gas corporation being the world’s largest publicly traded international oil and gas company. ExxonMobil holds an industry-leading inventory of global oil and gas resources. Is the world’s largest refiner and marketer of petroleum products, their chemical company ranks among the world’s largest. Exxon apply science and innovation to find better, safer and cleaner ways to deliver the energy the world needs. Although Exxon is considered one of the leader in oil refinery, there are also two other close competitor Chevron and BP.
Mission and vision of Exxon Mobil:
As one of the most profitable companies in the world, ExxonMobil Corporation makes no secret that it is on a money mission, and the company has been extremely successful in accomplishing that mission.
Exxon Mobil treats: External ( oil spills, substitution of electric cars) and Internal (workforce strikes)
Analysis: I plan to utilize Michael Porter’s framework of Porter’s Five Model Analysis being:
1) The bargaining power of the buyers- The oil prices are determined by the Market therefore, buyer has no bargaining power.
2) Entry Barrier- by acquisition of combination of smaller gas refinery to have enough resources to post an entry therefore the barrier is that the starting cost will be enormous.
3) Rivalry- BP Oil & Chevaron being the major rivalry
4) Substitutes- Electric power automotives.
5) The Bargaining power of the supplier- The resources of crude oil is limited and prices are set by the OPEC Organization of the Petroleum Exporting Countries to protect the industry.
In conclusion, I will go further detail on how to implement the framework in this multinational organization via group session and collaboration.
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