Assignment:
1. Read the article titled "2016 Oil and Gas Trends"
Next, argue for or against this statement: Acompany should determine its goals and values before performing an industry analysis. Explain your reasoning- you may use examples from other industries as wellto support your response.
Examine the main different types of values that a company could seek to maximize. Give your opinion as to whether or not a company should maximize its profits or social good, when these two (2) are in conflict.Provide a rationale and / or a real-world example to support your response.
Respond to post.
2. If you ask any CEO of any manager at all level what their main goal is, they will most likely say they want to improve the bottom line for the stakeholders. When the stakeholders are happy, it is always a happy day for the CEO and managers. I think profit maximization should always be a concern so as to keep everyone thriving for the best and success. Social good should be embedded in the organization culture. A company that is socially responsible is taking care of its future. The word of mouth travels more than anything else. Whatever good the company does for the community will pay dividend in the long run. However, I still argue in favor of profit maximization because this is the only way a company can continue to meet its aims and objectives, and keep every employee employed. I think that company should do everything it can to distinguish itself from its competitors either by value added services to build loyalty with customers in order to maximize profit. The move need to be handled carefully as not to shift focus from other core values of the organization. Part of ensuring that mis-understanding of goal is not rife in the company is employee engagement session to keep them informed and let them know that employees are number one, people resources are the most valued. Taking good care of employees and customers will create more sales, performance improvement, and profit maximization.