Strategy is about deciding where you want to go and how you mean to get there. A strategy is a declaration of intent: This is what we want to do and this is how we intend to do it. Strategies define longer-term goals but they are more concerned with how those goals should be achieved. Strategy is the means to create value. A good strategy is one that works, one that guides purposeful action to deliver the required result. Moreover, companies everywhere are changing the way they manage in order to be more competitive. A key measure of management in the 1990s and beyond lies in results attained relative to the opportunities and constraints created by rapid environmental change.
A primary way to gain competitive advantage is to manage people more effectively. Developing and implementing human resource strategies ensures that actions in managing human resources are aligned with competitive demand, as reflected in business strategies. To win in the global marketplace, companies are seeking to provide distinctly superior customer service, develop new capabilities and employee commitment, pursue innovation and creative initiative, and manage change through teamwork and cooperation. Most are striving to manage with fewer employees, fewer management levels, and more flexibility in management practices.
2. GENERAL BUSINESS STRATEGIES OF VISION OIL COMPANY
Vision Oil Company’s strategy is more upstream, profitable downstream. Upstream is about searching and recovering more oil and gas. Downstream is about refining and delivery of products to their customers. The profitable down stream is Vision Oil Company’s mission statement. Vision Oil Company’s strategy is more upstream; however their profitable downstream remains on track. Vision Oil Company levers a strong, wide ranging energy portfolio to meet the challenge of providing energy in a secure and responsible way.
In their upstream business, they are continuing to focus on developing new projects with long and productive lives. Vision Oil Company’s strategy seeks to reinforce their position as a leader in the industry and provide investors with a competitive and sustained total shareholder return.
Their commitment to technology and innovation continues to be at the core of Vision Oil Company’s strategy. They use a range of technologies and skills to explore for oil and gas in a ways that reduce the risk of error.
Vision Oil Company’s strategic plan is to streamline, which means reducing risks, costs, complexity of processes and increasing downstream profitability. For the customer this makes it easier to work with Vision Oil Company across the globe. For the employees of Vision Oil Company it means getting things right first time and every time, and access to accurate and meaningful management material as well as making efficient use of time and energy.
The streamline strategy will improve the way Vision Oil Company does its business with its customers. The streamline strategy has two components, which include customer service relocation (CRS) and global system application (GSAP). GSAP looks at processes and technologies, which replaces existing fragmented IT systems with a single global system. Therefore things will be done more consistently, quickly and efficiently.
Looking at streamline, we come to the conclusion that it will prevent errors and at the same time the processes will be the same worldwide.
3. HR STRATEGY OF VISION OIL COMPANY
Before we outline the HR strategy of Vision Oil Company, we need to define strategy. The word strategy originates from the word strategia which means generalship. But we prefer to refer to Johnson et al (2008:3) that summarizes strategy as follows: “strategy is the direction and scope of an organization over the long term, which achieves the advantage in a changing environment through configuration of resources.” Therefore strategy can be used at all levels within the organisation. Having already...