Issues Plaguing Saudi Aramco Company

Hillman (2009) indicated that “Resource Dependence Theory” refers to a business entity as an open mechanism that is reliant on contingencies in the external environment (p.2). That is, the theory views a business in relation to its resource dependences with other businesses in the environment (Salazar, 2012). Pfeffer and Salancik (as cited in Sheppard, 1995, p.28), stated that the essence of a company’s survival concerns its ability to get and maintain resources. The hypothesis helps explain why businesses should enter into exchanges with related parties and the manner in which the entity can maintain its survival. Pfeffer and Salancik (as cited in Sheppard, 1995, p. 28 - 29) conveyed that this survival occurs via demand management, namely the demands of interest associates upon which the entities rely on for resources

Edmundson (2013) explains that companies that consistently expand in a profitable manner have learned to take their strength and transform them into a competitive advantage. Edmundson (2013) list nine principals that will help companies turn their strengths into competitive advantages. The nine principals are to be quantifiable, stay objective and creditable, be true and accurate, not stated by you’re competition, contrast, use concrete facts and tangible data, emotional, focused and simple, and tell stories to make your audience relate. Edmundson (2013) continues that typically companies that have

2. New perspectives- Let's face it, the business world is constantly changing and in order to be successful companies must adapt and change over time.

According to the course text, it is critical for organizations to focus on best practices to maintain a competitive advantage to cover the various aspects of operational leadership, product advancement, and customer relationships (Ferrell & Hartline, 2014).

best way of business is to be encouraged. Proposing new ideas and concepts that can

In today’s highly competitive market, the continuous changes that are occurring in the social, politic and economic environment create serious challenges in the corporate world. Corporations cannot afford to do business as usual if they want to remain in the game and be successful. In order to achieve their goals and objectives, they need to evolve, adapt, learn and apply different new strategies that will help them secure long-run success and performance. Among those strategies, we are going to discuss ten of them and their advantages in connection with corporation’s goals and objectives.

These updated values are what will guide the business to become more entrepreneurial. They will literally, “guide innovation through the business’s practices”.

production. My opinion is that the estimate of 1 million barrels per day as stated in your source

You can have a brilliant business strategy. But the value of even the most brilliant strategy is a function of the effectiveness and efficiency of its execution.

In his book, American Business since 1920: How it worked, Thomas McCraw discusses one of the most important themes of business: the importance the ability to change and improve is to stay alive in business. (McCraw, 2009). This theme is still seen today, especially in markets such as the oil industry where new technologies and techniques are always emerging (Gold, 2015).

The three-horizons framework suggests that companies must think about themselves. The company should follow some guidelines, for example: “How compete?”; “What activities are better?”; “How to defend the core business?” and so on…

We also have to form relationships with external contacts. These interlocks between our sub-contractors, inspectors, and other public officials are critical in our day-to-day operations. Our company must form a synergy with all people involved in our company, so everything seems seamless to our

Post University’s Malcolm Baldridge School of Business aims to give students a greater understanding and appreciation for what it takes to be a successful leader in today’s rapidly changing business environment (The Malcolm Baldrige School of Business, 2015). Founded on the philosophy and core values of Malcolm Baldridge (The Malcolm Baldrige School of Business, 2015), the undergraduate business administration degree plan is comprised of a variety of courses that take students through the assorted elements of operating a business, from classes designed to explain the macro environment that affect organizations to how a business should manage its finances. As the capstone course for this degree, the Business Policy Seminar required that I utilize all of the knowledge I have gained in my previous degree work and apply it towards planning, developing and implementing organizational strategies. However, the course was also an application of the core values upon which it was founded. This reflective paper sets out to explain how I believe the Baldridge Core Values were represented and discussed during the course of this seminar.

The world’s largest producer of crude oil is Russia producing more than 5.3 million barrels per day (Barden 2017). The history of Russia’s oil industry started in the 16th

❖ To make sure of availability of parts and other stuff critical and necessary to maintain services that will ensure the customers needs and demands, a good relationship with the suppliers and developers has to be achieved.