OMAN OIL COMPANY

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Abstract

This paper is written to discuss Oman Oil Company whose contribution is great on the economy of the country. The article starts by describing the organization covering the company profile, the goals, and objectives.This is basically the overview of the organization and how it intends to carry out the business activities. The paper goes ahead to identify the triggering events in the organization which might signal the need for change. The triggers are well explained in the article with good illustrations.

Furthermore, the paper will analyze the strengths, weaknesses, opportunity and threats facing Oman Oil Company. The company needs this information to make necessary adjustments to issues which affect the operations of the organization.The plan on implementing the change is also discussed in the paper. Lastly, the three strategies to sustain the gain to the company are identified and discussed.

Organization Description

Oman Oil Company was established as the upstream oil and Gas Company. It operates as a commercial company and it is entirely by thegovernment of Sultanate of Oman. The government depends on this organization as one of the important and significant contributors to the economy of Oman. In 199, the Company was incorporated to pursue the investment opportunities in the sector of energy both outside and inside Oman. Oman Oil Company has participated in energy and other energy related projects for decades. The organization has continued to play aparamount role in the country’s effort to diversify the economy of the nation and the surrounding regions. The participation in these projects has also promoted theforeign private sector and Oman investment.

The company is focused on bringing the partners, the employer and neighbors of choice on board to carry out the activities efficiently. Advanced technology is incorporated to boost the production of oil and gas, and accessing of the reserves which are hidden underground. The petroleum products and other lubricants are sold locally in the Sultanate Oman to the people. The economy of the nation is driven by the contribution of Oman Oil Company. The Gross Domestic Product of the country has increased over time because of the activities of the company.

The core objectives of the company have been very crucial in running all activities of the organization. The first objective of Oman Oil Company is developing and investing in the profitable business activities both within the country and internationally. The investment will be paramount in improving different sectors of the economy. The next objective of the company is thecreation of the meaningful employment opportunities within Oman to the citizen who are not employed. Employmentopportunities will enable people to earn income which will be used to improve their living standards.Moreover, Oman Oil Company is focused on growing talents through nurturing of professionals and business leaders. Lastly, the organization is looking at how to maximize value from the Oman’s resources.

On the other side, the company has developed gas and oil-based industries partnering with international players to create a best oil and gas sector. The company has four pillars which help in the operation of Oman Oil Company projects. The pillars represent Oman Oil Facilities and Oman Oil Duqm Development Company. The company pursues other avenues to provide alternative sources of revenue to the government of Oman.

Triggering event that might signal a need for change

The occasions which are activating in nature are silver shots in any deal. They allow people to look for the right department or individuals and it should be at theperfect time. There are various sorts of trigger events in the organization structure. They are meant to empower new financing and methodological changes in the standard calendars of the organization. The triggers help in upgrading the organization likelihood of modifying or altering their techniques in handling the objectives and mission.

The first triggering occasion is the Oman oil Company changing of its official staffing. Staffing is very important to an organization and in the event that the company does official staffing, it will trigger or signal a change in management and running of the organization. Officials are procured in order to cause an effect in the organization. The official time of the management is shorter and therefore there is need to make a quick and fast imprint. The official staff is mandated with changing the structure of Oman Oil Company very fast so that current and past administration refinement is clear.

Another trigger which might signal change is the change in subsidizing. The aim of subsidizing is to help in developing and improving the organization to grow its management scope within the zones of impact. Oman oil Company has the plateau with different subsidizing bodies which empower and meet its entire money related issues making it more feasible to give support to its administration. This is an event which might motivate the workers and therefore a good trigger for change in the organization.

SWOT analysis of Oman Company

Being a company that has specified in the production of petroleum products and producing gas, Oman company has a SWOT analysis that enables it to carry out its operations and continue being effective in the market. The company has various strategies to manage its SWOT analysis to ensure that that necessary action is taken where necessary and the company continues to be successful in whatever functions and operations it carries out. SWOT analysis is a very crucial framework which is used by companies and in this case Oman company to analyze its strengths, weaknesses, opportunities and threats related to the company.

However, this analysis can also be carried for various industries like the oil industry, for various places and even for various products like the products that Oman Company produces. Through SWOT analysis, the company is able to analyze the various strengths and weaknesses that the company has and hence develop business strategies that are strong so as to help in developing the company. Strengths and weaknesses are usually internal to the company and the company has the ability to change them. Opportunities and threats are usually external to the organization and the organization has no controls over them and the company should address them so as to gain a competitive advantage in the market. Oman Company can use this analysis the various changes taking place in the markets and act in a way which is proactive because it is a company which has been in existence.

Strengths are the positive factors and attributes that the company possesses and they can be touched or not and are usually internal to the company and therefore the company has control over them sand can change them so that the company can be more effective. It involves the advantages that the company has over its other competitors, the strong framework of research and development the company has the resources which are internal to the company that makes the company to be competitive and all the things that the company does well. The various strengths that Oman Company has are as follows; the company has a market which is strong locally which makes it enjoy more profits within the country. The company has established a good relationship with its locals; making the locals to prefer most of the products that the company produces hence making it earn more profits and develops more than its competitors. The company is one of the big oil producing companies in the Middle East which is also thestrengthof the company as it enjoys more in terms of the market. The company also has a large market globally making it attract more customers from most parts of the world as compared to other companies which just operate locally.

Another strength that the company has is that the company has a lot of efficiency in the various operations that it carries out which makes it improve performance and produce quality products which are highly preferred by the customers. Through efficiency operations, the company has been able also to develop its infrastructure by coming up with methods that are superior in drilling hence cutting on the costs and increasing profits. The company also has many employees who carry out their work effectively as well as having subsidiaries in most parts of the world that do their work effectively making the company be efficient and effective in its operations. In addition to these, the revenue of the company has been growing tremendously over the years which have made the company to increases its assets related to gas reserve.

Weaknesses are those aspects within the company which make the value of the company to be lowered and can even make the company to have a competitive disadvantage. It includes what the business doesn’t have, if the location of the business is poor or if the business has resources that are limited. The weaknesses of Oman company are that the company does not have scales which it can measure itself with other big companies in the region because it’s big itself. Lacking a scale make it difficult to trace the progress sofa the company and comparison in the market are also difficult. Having a large local market makes the company concentrate more locally and hence ignore some of its international subsidiaries and customers who can make the company to lose revenue it could have earned in those foreign countries. In addition to this, the efficiency of operations of the company has been declining of late which can even scare away potential investors.

Opportunities are factors that are external to the company which can make the company to increases its prosperity in future. Various opportunities posed to Oman Company are anincrease in the demand for gas and other petroleum products that the company manufactures. Through this, the company has been able to increase its production capacity to cater for increased demand and hence increasing its profits. The company has also expanded the operations it carries out in the Middle East so that it is positioned well internationally and leverages its operations which have made it earn more customers. Lastly, the company is trying to diversify most of its operation by building more plants which will see the company expanding even more in future.

Threatsfactors which are external and the business have no control over them and are negative to the company hence pose a great risk to the company. Threats that Oman company is facing are competition as most many companies are coming up which produce similar products as the company, the government is also putting a lot of policies on how the products should be produced and how the company should carry out its operations which make the company find it difficult to operate like strict laws on environmental regulation. Finally, the risks associated with the exploration of oil area great threat to the company.

Plan for implementing change

Oman Company can put various plans in place to ensure that the change they have adopted is implemented in the company. One of the plans that the company can put in place is ensuring that all employees in the company are involved. Change affect nearly everyone in the company and therefore the workers should be part of the change so that they can feel their presence is appreciated by the company and be able to know what the change entails and what has changed generally and know the various people they are required to report to. Another plan is ensuring that the change that has been initiated by the company is communicated in the company so that everyone is aware of it.

When change is communicated, all people will know what is expected of them and there will be no rumors about the change and this minimizes resistance to change. The management should also act in a manner the shows that they support the change that the company has adopted when they interact and communicate with the juniors. Through this, the low-level employees will also be comfortable with the change and support it since it’s supported by the seniors. All this will reduce resistance to change, make the employees work towards ensuring the change is implemented and ensure that the change is implemented finally.

Strategies to sustain the gain

It is the role of the management to sustain any positive gain that is achieved by the implementation of certain changes. There is no use for making significant progress and fail to sustain the same. Oman Oil Company is supposed to use at least the three available strategies to sustain the gain.

The first strategy costs leadership. The company is supposed to produce oil products and sell them to the clients at prices much lower than what the competitors are charging. There are several oil companies around the world and basically in the Arab Emirates which pose a lot of competition to Oman Oil Company. This will enable the Company to earn the profit and maintain more clients compared to others.

Differentiation is the next strategy that ought to be used in sustaining the change by the company. Oman Oil Company is supposed to produce oil and other oil products to be more unique and of high quality from what the competitors offer. Differentiation will make it able for the company to sustain the gain and even earn more margins because of the uniqueness of the products. The last strategy is thefocus. Oman Oil Company is supposed to choose to dominate a given niche in the market. Concentration on a limited market will enable the company to understand the dynamics of that market.

References

Fasano, U. (2000). Review of the experience with oil stabilization and savings funds in selected countries.

Glennie, K. W. (2005). The geology of the Oman Mountains: an outline of their origin (p. 110). Bucks: Scientific Press.

Levell, B. K., Braakman, J. H., & Rutten, K. W. (1988). Oil-bearing sediments of Gondwana glaciation in Oman. AAPG Bulletin, 72(7), 775-796.

Mikesell, R. F., & Chenery, H. B. (1949). Arabian oil: America’s stake in the Middle East. Univ. of North Carolina Press.

Oman-oil.com. (2016). Welcome to Oman Oil Company S.A.O.C. [online] Available at http://www.oman-oil.com/index.php [Accessed 28 Dec. 2016].