Assessing change in PETROM
ACADEMY OF ECONOMIC STUDIES
FACULTY OF BUSINESS ADMINISTRATION
ASSESSING CHANGE AT PETROM
CHANGE MANAGEMENT
Table of Contents
I. INTRODUCTION 4
II. CHANGE MANAGEMENT PROCESS 6
III. ANALYSIS OF THE CHANGE PROCESS 7 - KOTTER’S 8-STEP MODEL PERSPECTIVE
IV. ROLE OF CHANGE MANAGEMENT 12
V. FUTURE PLANS IN PETROM 17
VI. CONCLUSION 20
VII. REFERENCES 26
I. Introduction
Petrom is a very well-known oil company in Romania, as it is the largest corporation in Romania, with €6 billion revenue in 2012 and over 24,662 employees. Petrom is the largest gas and oil producer in Easter Europe. It was founded in 1991 as a state company, and after that in late 2004, it became privatized with the largest privatization deal in Romania’s history, and the majority of shares were sold to the Austrian OMV group.
We chose Petrom due to the fact that firstly the Romanian society in the past ~ 23 years has gone through a period of major social change from socialism / communism to capitalism, changes that had a major impact on society as a whole and also on each companies. This fact imposed major reconstructions that led to the necessity of applying a complex and continuous management change process. Secondly, it is related to the oil industry history in the world wide level. Crude oil was known in Romania since the first century BC, when dating objects were found in the old city of Poiana (Nicoresti,Galati). The world 's first oil refinery was built in Romania, in 1856, on the outskirts of Ploiesti, by brothers Mehedinţeanu.
Oil distillery has started when Theodore Mehedinţeanu encountered difficulties in applying the signed contract even from 1856 to illuminate the capital with "idrocarbură and lamps”. Due to history facts Romanian geology and its scientists played a crucial role in setting the basis and the development of oil industry. Many of these last new technologies used in research,
FACULTY OF BUSINESS ADMINISTRATION
ASSESSING CHANGE AT PETROM
CHANGE MANAGEMENT
Table of Contents
I. INTRODUCTION 4
II. CHANGE MANAGEMENT PROCESS 6
III. ANALYSIS OF THE CHANGE PROCESS 7 - KOTTER’S 8-STEP MODEL PERSPECTIVE
IV. ROLE OF CHANGE MANAGEMENT 12
V. FUTURE PLANS IN PETROM 17
VI. CONCLUSION 20
VII. REFERENCES 26
I. Introduction
Petrom is a very well-known oil company in Romania, as it is the largest corporation in Romania, with €6 billion revenue in 2012 and over 24,662 employees. Petrom is the largest gas and oil producer in Easter Europe. It was founded in 1991 as a state company, and after that in late 2004, it became privatized with the largest privatization deal in Romania’s history, and the majority of shares were sold to the Austrian OMV group.
We chose Petrom due to the fact that firstly the Romanian society in the past ~ 23 years has gone through a period of major social change from socialism / communism to capitalism, changes that had a major impact on society as a whole and also on each companies. This fact imposed major reconstructions that led to the necessity of applying a complex and continuous management change process. Secondly, it is related to the oil industry history in the world wide level. Crude oil was known in Romania since the first century BC, when dating objects were found in the old city of Poiana (Nicoresti,Galati). The world 's first oil refinery was built in Romania, in 1856, on the outskirts of Ploiesti, by brothers Mehedinţeanu.
Oil distillery has started when Theodore Mehedinţeanu encountered difficulties in applying the signed contract even from 1856 to illuminate the capital with "idrocarbură and lamps”. Due to history facts Romanian geology and its scientists played a crucial role in setting the basis and the development of oil industry. Many of these last new technologies used in research,
References: [1] [Online], Available: http://www.mindtools.com/pages/article/newPPM_82.htm [2] [Online], Available: http://www.teamtechnology.co.uk/changemanagement.html http://en.outreach.ca/Article/DNNArticleView/tabid/2265/ArticleId/1794/Building-Your-Guiding-Team-for-Your-Change-Effort.aspx [4] [Online], Available: http://academy.clevelandclinic.org/LinkClick.aspx?fileticket=tCy9kstz6FU%3D&tabid=1846 [5] [Online], Available: http://www.bvb.ro/infocont/infocont12/snp190612_en.pdf [6] [Online], Available: http://www.slideshare.net/PetromSustenabilitate/petrom-investor-presentation-update-q2-s [7] [Online], Available: http://www.environmental-expert.com/companies/rompetrol-28718 [8] [Online], Available http://en.wikipedia.org/wiki/Petrom [9] “Leading Change” by John P. Kotter (Harvard Business School Press, 1996) [10] [Online], Available: http://www.petrom.com/portal/01/petromcom/petromcom/Petrom/Despre_Petrom/!ut/p/b0/04_SjzQ0sTAzNzCzMDHVj9CPykssy0xPLMnMz0vMAfGjzOIN_E0tAr0cnY1cDdw9PXw9jDwNDSBAPzg1Tz83ylERACHsGAs!/