Pacific oil company case study answers. Pacific Oil Company Case Study Final webapi.bu.edu 2022-10-17
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The Pacific Oil Company is a fictional company created for the purposes of this case study. However, there are many real-life oil companies that face similar challenges and opportunities as those described in the case study.
One of the main challenges faced by Pacific Oil is the need to balance the demands of shareholders and stakeholders. Shareholders are interested in maximizing profits, while stakeholders include employees, customers, and the local community, and may be concerned with issues such as environmental sustainability and social responsibility.
One potential solution for Pacific Oil could be to implement a stakeholder management strategy. This could involve setting clear goals and objectives that take into account the interests of all stakeholders, as well as regular communication and consultation with stakeholders to ensure their needs are being met. This could involve things like setting targets for reducing greenhouse gas emissions, investing in renewable energy, and engaging in community development projects.
Another challenge faced by Pacific Oil is the need to adapt to changing market conditions and technological advances. The oil and gas industry is facing increasing competition from renewable energy sources, and companies like Pacific Oil will need to find ways to remain competitive. This could involve investing in research and development to improve the efficiency of their operations and reduce their environmental impact, as well as diversifying their energy portfolio to include a mix of fossil fuels and renewables.
One way that Pacific Oil could address these challenges is by implementing a corporate sustainability strategy. This could involve setting long-term goals for reducing greenhouse gas emissions and increasing the use of renewable energy, as well as implementing operational changes to reduce waste and improve efficiency. In addition, Pacific Oil could consider partnering with organizations that are working to accelerate the transition to a low-carbon economy, such as by supporting research into renewable energy technologies or collaborating on projects to reduce greenhouse gas emissions.
In conclusion, the Pacific Oil Company is faced with a number of challenges and opportunities as it seeks to navigate the changing landscape of the oil and gas industry. By implementing a stakeholder management strategy and a corporate sustainability strategy, Pacific Oil can ensure that it is meeting the needs of its shareholders and stakeholders, while also positioning itself for success in a rapidly evolving market.
Pacific Oil Case Study Questions And Sample Answers
Specially two reporters from the newspaper Washington Post, Bob Woodward and Jonathan Bernstein. What were the events that transpired, beginning in January of 1975? Pacific Oil took a year trying to come to a conclusion. It is clear that Hauptmann and Zinnser had realized the weaknesses of counterparty thus entering into the discussion with confidence of achieving their goals without compromising the performance of the business even when faced with future changes. Besides, several factors of negotiation have been displayed on the exercise between Fontaine and Gaudin. Overview of Case The Pacific Oil Company, founded in 1902, experienced rapid growth throughout the early twentieth century, expanding into north Africa and eventually the Middle East. By 1982, Pacific Oil and Reliant had renegotiated the original contract and extended it another four years with no specific changes to the original contract.
Decide what their minimum acceptable goal to extend the contract. However, if Pacific Oil decided to further diversify its product line to include …show more content… Lewicki, 2010, p. Department of Minerals Management Service MMS in case of blowout, which in the report, contained inconsistencies and illogical statements. This partnership was more than a decade old and was strong. At the end of the four-year contract it was understood that it would be necessary to renegotiate the contract. This desirable outcome never happens by chance; it is always the result of careful planning.
If you prepared to the best of your Assess to the Extend That Foreign Policies of Usa and Britain Forced Japan to Bomb Pearl Harb 23607352 Assess the view that U. The longer time frame is enough to be affected by market dynamics Lewicki, R. We will start by introducing our concerns with the companies in conflict Pacific Oil Case Study Analysis Pacific Oil Case Study When entering into contract negotiations, the objective of each side is to obtain a contract of greatest benefit to their organization. It seems they were not ready to concede for anything less than what they were presenting on the table. These two journalists published on August of 1972 the news that the attempted theft in Democratic headquarters the Watergate building had been paid with funds from CREEP.
Pacific Oil Company Case Study Final webapi.bu.edu
They should figure out ways to meet the objectives at Pacific Oil. In the late nineteenth century, the abuse started, when the imposing business models over just about of all Persia's money related and financial assets were secured by the Britain's. Due to their inexperience, Fontaine and Gaudin were not the correct pairing to conduct the renegotiation, as well, they did not have decision making authority. The case study did a very good job at pointing out a lot of examples of how Pacific Oil Company tried to achieve the negotiations of the contract. Sherron Watkins blew the whistle on Enron in 2001 by sending a memo to Kenneth Lay, the founder of Enron, giving caution she knew the company was at a great risk of finding themselves in a dilemma.
Despite working for the leading manufacturer of petrochemicals in the world, Fontaine and Guadin negotiated like despirate salespeople, ceding power at every turn, and placed themselves in a position of weakness at the bargaining table. For a few months, the Washington Post published advance notes related with the judicial investigations and Senate. The strategy did not work well in their favor since they ended up giving in to the demands of the counterparty thus compromised the future re-opening of the negotiation incase market dynamics shift against the business projections Lewicki, R. Two multinational industrial giants, these companies had much to gain through a contract for the sale of vinyl chloride monomer from the Pacific Oil Company or simply Pacific to the Reliant Corporation or simply Reliant. This large diverse structure became very difficult to control and made it easy for executives to go undetected.
How effectively did Fontaine and Gaudin approach the negotiation? Well punctuated and grammar checked. Get your paper price 124 experts online Pressure should have been put on Relient to settle earlier than a year and not to keep rescheduling the meetings. What action should Fontaine take at the end of the case? Needs to be revised. They had to contact senior level management in order to reach a final agreement. However, if Pacific Oil decided to further diversify its product Week 3 Case Study Pacific Oil Company Essay The case study on Pacific Oil Company shows from beginning to end the role of power in the outcome of a negotiation. Agent Soon after, President George H. Definition of a failed grade Alternative url PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!! One of the major chemical lines of Pacific's is the production of vinyl chloride monomer VCM.
Such reluctance to terminate a losing project resulted in huge lesions and process disruptions. Background The Pacific Oil Company was founded in 1902 as the Sweetwater Oil Company of Oklahoma City, Oklahoma, following an oil discovery that Pacific Oil Case Study Pacific Oil Company is a Sweetwater Oil company of Oklahoma City, Oklahoma. This could be translated to mean they had nothing to lose and they had projected market accurately before availing themselves for the discussion Raiffa, H. The dilemma would be the product of many financial accounting scandals. This partnership was more than a decade old and was strong. Has plenty of grammar mistakes and does not meet the quality standards needed.
As a result, Jean who represented the Pacific Oil Company failed to effectively research on the demands of the Reliant Chemicals Company as well as project precisely what the outcome might be. It was taken for granite that the company was the largest own producers of Pacific Chemical. They appeared overly generous to give Relient what they wanted. The case study uncovers a myriad of variables that Pacific Oil Company is attempting to attain in the contract negotiations with the Reliant Chemical Company. It seemed to me is that their only concern was the bottom line which was to get Relient to extend their contract. Pacific was not willing to walk away from Relient which I felt they had unreasonable request.
A year was too long. This delay extended the negotiation timeline. On August 4, 1997, 185,000 UPS workers, who served as members of the International Brotherhood of Teamsters or the Teamsters Union walked out on the company led by Teamster reformer Ron Carey, President of the labor union. Pacific Oil should have given themselves time to compromise. Answer: I do not think that Fountaine should have called Meredith for a clearance to add thee clauses. In addition, workers stipulated higher wages. Answer: Fontaine's or Gaudin's had good bargaining techniques.
Pacific Oil always tried to compensate Relient with whatever they wanted to keep their business. Adequate preparation should include careful study of strengths and weakness of both side along with the study of the need of the other party and ways to satisfy those needs. Going into these meetings prepared for anything is the way to approach it. In the negotiations, the company aimed at changing the surplus of Vinyl Chloride in the market so as Pacific Oil Company can gain enough market share to produce and sell their Polyvinyl Chloride Lewicki, 1993. What should Frank Kelsey Commend to Jean Fontaine at the end of the case? They did not anticipate nor prepare to resolve additional issues. Pacific Oil Company Case Study Score Evaluation Criteria Total score 100% Meets all the criteria necessary for an A+ grade.
