Great Lakes Oil Company Report
Strayer University
Sr. Seminar in Business Administration
Professor: Milton Lawler
Great Lakes: Great Decisions
12/15/2010
By John B. Webb IV
Abstract For most business renovations and innovations, during the progress development of a company, continuous research and analysis is conducted to find out the ins and outs of the business. Some companies conduct this research before and or during the market place in configuring how they can enter or main their competitive position and influence of the industry involved. Great Lakes Chemical Corporation happens to be one of these companies that are in need of renovations and innovations, to stay in business at competitive position in their industry of choice. By conducting a SWOT analysis and utilizing the Porters Five Forces Model, Great Lakes Chemical Corporation can define their competitive position, while at the same time evaluating their capabilities that can keep them in business with a the ability to maintaining their competitive position.
Great Lakes Chemical Corporation is a company in the lead additive production market that is motioning towards a transformation of business away from the lead additive market place as the rest of the world around the company, and switch not only the types of products and services available in market place, but also it clientele “developing countries” to switch to using non hazardous environmental products, while a the same time saving the company’s reputation in that what Hitt and Hoskisson (2011, pg 159.) describe “Great Lakes placed a great deal of importance in the well-being of its shareholders and remaining a viable company, but it also wanted to be-and to be seen as-a respectable corporate citizen.” In order for such a transformation to be successful, GLCC needs to conduct detailed research and analysis on what are the internal and external factors such as competition, suppliers, buyers, economies, governments, etc., that are or will affect
Sr. Seminar in Business Administration
Professor: Milton Lawler
Great Lakes: Great Decisions
12/15/2010
By John B. Webb IV
Abstract For most business renovations and innovations, during the progress development of a company, continuous research and analysis is conducted to find out the ins and outs of the business. Some companies conduct this research before and or during the market place in configuring how they can enter or main their competitive position and influence of the industry involved. Great Lakes Chemical Corporation happens to be one of these companies that are in need of renovations and innovations, to stay in business at competitive position in their industry of choice. By conducting a SWOT analysis and utilizing the Porters Five Forces Model, Great Lakes Chemical Corporation can define their competitive position, while at the same time evaluating their capabilities that can keep them in business with a the ability to maintaining their competitive position.
Great Lakes Chemical Corporation is a company in the lead additive production market that is motioning towards a transformation of business away from the lead additive market place as the rest of the world around the company, and switch not only the types of products and services available in market place, but also it clientele “developing countries” to switch to using non hazardous environmental products, while a the same time saving the company’s reputation in that what Hitt and Hoskisson (2011, pg 159.) describe “Great Lakes placed a great deal of importance in the well-being of its shareholders and remaining a viable company, but it also wanted to be-and to be seen as-a respectable corporate citizen.” In order for such a transformation to be successful, GLCC needs to conduct detailed research and analysis on what are the internal and external factors such as competition, suppliers, buyers, economies, governments, etc., that are or will affect
References: Hitt, M.A., Ireland, R. D., Hoskisson, R.E. (2011). Strategic Management Concepts And Cases: Competitiveness And Globalization. Mind Tools Ltd (1996-2011). SWOT Analysis, Discover new opportunities. Manage and eliminate threats. Retrieved from http://www.mindtools.com/pages/article/newTMC_05.htm Learn Marketing (n.a.). Porters fives forces model: Industry analysis model. Retrieved from http://www.learnmarketing.net/porters.htm Author, A. A. (Year, Month Day). Title of article. Title of Newspaper. Retrieved from http://www.someaddress.com/full/url/ ENDS Report (2008) .Lead additive firm profits from tighter regulations. ENDS Report. Retrieved from http://www.allbusiness.com/energy-utilities/oil-gas-industry-oil-processing/14446978-1.html