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Business Environment and Strategic Management Assignment - Victoria gas and oil company

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Added on  2020-12-10

Business Environment and Strategic Management Assignment - Victoria gas and oil company

   Added on 2020-12-10

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Business Environment andStrategic Management
Business Environment and Strategic Management Assignment - Victoria gas and oil company_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11 Justification of the reason you choose that particular independent oil and gas company........12. Critically analysis the internal or external factors which influence corporate strategy in oiland gas industry..........................................................................................................................13. Evaluating the challenges facing the independent oil and gas company in theimplementation of its strategy.....................................................................................................44. Make justified recommendation for the strategic direction of Victoria Oil & Gas Plc..........6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8APPENDIX....................................................................................................................................10
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INTRODUCTIONStrategic planning is a process and planning of all which is important for the company inorder to achieve its determined goals. Business environment refers and consist all the internaland external factors that impact and influence business activities and process of the company.Victoria gas and oil company is a domestic energy supplier in Africa. In 2004, Kevin foundedthis company and was responsible for refocus of the company towards natural gas in Africa. Thisstudy will show about the internal and external factors that include strengths, weaknesses, threatand opportunities of the company which impact decision-making process in negative manner andin positive manner (Robson, 2015). External factors include political, legal, economic factorsthat also help the company in expanding its business by adopting its strengths. On the other hand,weaknesses and other factors become barrier in the growth of the company that it addresses forbetter improvement. This report also shows about flexible approaches of strategic planning andall the factors that affects the implementation of corporate strategy within the gas and oil sector.TASK 11 Justification of the reason of particular independent oil and gas companyCorporate strategy is the plan of the company that defines ways, method and in order toachieve corporate goals within strategic management. There are mainly four types of corporatestrategy such as: market penetration, diversification, vertical integration and horizontalintegration. The oil and Gas sector play a vital role in social development and economy. Thestrategic decisions of Victoria gas and oil company are highly unstructured, and long term.Managers in this type of industry talk of midstream, upstream and downstream activities.Upstream sector of Victoria gas and oil company concern and focus on trading and initialprocessing of oil and gas.The downstream sector of this company concern with marketing and transporting oil and gas tothe customers.The midstream oil sector focus and concern with refining and transporting a large variety of oilproducts.Nature and scope of Victoria oil companyVictoria oil and Gas Plc conduct its business in accordance with the best practicestandards that govern human rights. The main aim and goals of this company is to respect1
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various or different cultures and the rights of the people of local communities. The another mainaim of this company is maintaining and promoting integrity, honesty and high ethical standards.It wants to make a positive and large amount of contribution to local communities. In order tocompliance with corporate social responsibility, company should ensure that all the members ofstaff are aware of the company's commitment towards social responsibility. They alsocommunicate the company's activities with the community (Rees and Smith, 2017).This group and company is focusing on developing the natural Gas and compressednatural gas vehicle markets. Gaz du cameroun is currently the one and only supplier of naturalgas to Douala. Victoria gas company has pioneered monetisation of onshore gas from 57%owned condensate project and Logbaba gas. It is wholly operates in this project. This companyhas hierarchical structure in which it has executive chairman, chief executive officer, financedirector, senior independent director etc.The strategic planning developed the structure in which models of the company areapplied in order to analyse the strategic process. The strategic planning resolves and tacklesspecific issues of the company and their strategic implication.Qualitative approach: According to qualitative approach these informations are collected ithelped in searching the meaning, definitions, characteristics and concept of the thinks2. Critically analysis the internal or external factors which influence corporate strategy in oil andgas industry.Victoria Oil and Gas PLCSTRENGTHSStrong Brand Portfolio- Over the years, Victoria Plc has invested huge amount inbuilding a strong brand portfolio. It can be very useful if, the organisation wants toexpand into new categories.Strong Dealer Community- It has developed a culture among dealers & distributors topromote company's products and also invest in training the sales team.High level of customer’s satisfaction- Company has dedicated customer’s relationshipmanagement department that helps to achieve a high level of customer satisfaction amongpresent customers and potential customers.2
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