BMOM5203 ASSIGNMENT
Assignment for BMOM5203 ORGANISATION AND BUSINESS MANAGEMENT
Select a well known organization and analyze the impact/challenges of the general environment ( Social, Technology, Economic, Politics/Regulations) on the selected organization. Provide well justified recommendations on how the selected organization can overcome and manage these impact/challenges.
Answer to Question 1:
Introduction:
PETRONAS is Malaysia's national oil company which was founded on the 17th of August 1974. It is wholly owned by the Malaysian government but operates like a commercial entity with freedom to formulates its own business plan with its day to day affairs run by professional managers who answers to its board of directors. The corporation is vested with the entire ownership of the oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources ("PETRONAS", n.d., p. 01). PETRONAS is ranked among Fortune Global 500's largest corporations in the world with its most recent ranking as 75th largest company in the world ("Global 500 2013: Full List - Fortune", n.d., p.01). From its former days, it has grown from merely being the manager and regulator of Malaysia’s upstream sector into a fully integrated oil and gas corporation with joint ventures in more than 32 countries .The current operation by PETRONAS involves upstream activities such as exploration and production to downstream sectors which includes oil refining , gas processing and transmission , petrochemical manufacturing and distribution, Liquidified Natural Gas (LNG) distribution , shipping and trading of petroleum products such as fuel and engine lubricants ("PETRONAS", n.d., p. 01). As of the end of March 2005, the PETRONAS Group comprised of 103 wholly owned subsidiaries, 19 partly owned outfits and 57 associated companies. The Financial Times has identified PETRONAS as one of the "new seven sisters" the most influential and state-owned national oil and gas
Select a well known organization and analyze the impact/challenges of the general environment ( Social, Technology, Economic, Politics/Regulations) on the selected organization. Provide well justified recommendations on how the selected organization can overcome and manage these impact/challenges.
Answer to Question 1:
Introduction:
PETRONAS is Malaysia's national oil company which was founded on the 17th of August 1974. It is wholly owned by the Malaysian government but operates like a commercial entity with freedom to formulates its own business plan with its day to day affairs run by professional managers who answers to its board of directors. The corporation is vested with the entire ownership of the oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources ("PETRONAS", n.d., p. 01). PETRONAS is ranked among Fortune Global 500's largest corporations in the world with its most recent ranking as 75th largest company in the world ("Global 500 2013: Full List - Fortune", n.d., p.01). From its former days, it has grown from merely being the manager and regulator of Malaysia’s upstream sector into a fully integrated oil and gas corporation with joint ventures in more than 32 countries .The current operation by PETRONAS involves upstream activities such as exploration and production to downstream sectors which includes oil refining , gas processing and transmission , petrochemical manufacturing and distribution, Liquidified Natural Gas (LNG) distribution , shipping and trading of petroleum products such as fuel and engine lubricants ("PETRONAS", n.d., p. 01). As of the end of March 2005, the PETRONAS Group comprised of 103 wholly owned subsidiaries, 19 partly owned outfits and 57 associated companies. The Financial Times has identified PETRONAS as one of the "new seven sisters" the most influential and state-owned national oil and gas