Exxon Mobil Corporation has its headquarters in Irving, Texas (Fig 1.0). It came into existence in 1999 after the two companies i.e. Exxon and Mobil decided to bring their resources together and work as a unit. Exxon's take over of Mobil was the largest in history. It is currently a leading global petroleum and natural gas exploration and production company. The company is boasting of eleven independent business units across the globe (Jack, 2006). Among the commonly known are Mobil Corporation, Exxon Corporation and Esso whose logos are shown above (Fig 1.0). The five global upstream businesses take part in exploration, development, production, gas marketing and upstream research. The four global down stream businesses carry out refining and supply fuel marketing, lubricants and petroleum technology operations (Jack, 2006). ExxonMobil also owns a company that deals with chemicals and coal Minerals Company. Divisions and affiliated units refine or market products in about 200 countries. The company's principal businesses are the exploration for and production of crude oil and natural gas, the manufacturing of petroleum products and the transportation and sale of crude oil, natural gas and petroleum products (Jack, 2006).
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Exxon Mobil's proven oil reserves include about 22 billion barrels of oil-equivalent. Its 45 refineries allow a production capacity of around 6 million barrels refined each given day. The firm deals in supplying gasoline and other refined products to an excess of 40,000 service stations around the world, operating under the brand names that include Exxon, Esso and Mobil (Jack, 2006). Subsidiary Exxon Mobil Chemical is a major manufacturer and marketer and manufacturer of basic petrochemicals including olefins, aromatics, polythene and polypropylene plastics and a wide variety of specially products (Jack, 2006). The company also mines and sells coal, copper and other minerals and has interests in electric power generation facilities. Exxon Mobil spends about $600 million annually on research in new technologies, including developments in synthetic lubricants, catalyst research, biomedical services and hydrocarbon-based fuel cells (Jack, 2006).
Step 2. Mission statement
Exxon Mobil is dedicated to being the top in the world in producing petroleum Products Company. Going by that, they must continue without stopping to gain superiority in controlling finances and end products while still observing high measures of carrying out business (Steve et al, 2007). These immense anticipations give the basis of their involvement to the members they do business with. The company also promises the stakeholders some good profit if they run their business professionally and realize some good returns. This is what keeps the firm on its feet (Steve et al, 2007).
The company strongly believes that for them to stay in business, clients must be given preferences. They assure their clients that they will always be in the forefront in offering outputs of high standard and at affordable prices (Fig 1.1). In order to give this, the company has highly qualified employees (William et al 2007). The workers are entitled to some occasional tutoring alongside development. They are guaranteed a working atmosphere which is safe with people of different caliber accompanied by an open system of passing information, being honest and relatively good treatment (William et al 2007). The community is not left behind and the company promises good neighborliness in all regions of operation. They promise to always observe ethics of highest order, application of laws at all times, and not to interfere with the communities' culture. Finally and most important to ensure the environment remains friendly.
(Fig. 1.1) A customer being attended
Exxon Mobil also embraces being flexible in order to go hand in hand with the ever changing requirements. This demands that they keep their eyes on the price looking at things in the long run. They promise to always work to raise efficiency in terms of services offering, putting their best foot forward to observe fabulous practices. They seek to be morally upright and selective while assessing the height of invested capital chances close to them and to apply the latest technology in offering their services. it continue to state that they will always carry out plans as organized and with a lot of caution observe principles that guide them alongside policies (William et al 2007).
Step 3. SWOT Analysis
Exxon Mobil financial capability has enabled them to continue giving the stakeholders something good in terms of returns while still ensuring the environment is safe (William et al 2007).
Always on Time
Marked to Standard
Regardless of economic recession that hit the world the company remains dedicated to committing finances in order to counter challenges (William et al 2007).
The morally uprightness that the company observes has enabled them come up with new energies which do not bring greenhouse gases (William et al 2007).
Exxon credit cards have continued to give best services to their customers when they need them most (Exxon Mobil Corporation 2003).
The company has continued to provide reliable distribution network that the clients can rely on (William et al 2007).
The company has worked closely with the rest of the organizations to develop effective long term solutions that minimizes the risk of climate change from unacceptable social and economic damage (Exxon Mobil Corporation 2003).
The company is always in the forefront to provide and develop latest technology in all its operations (William et al 2007).
Over the past years, their dedication in ensuring no oil spills experienced is high.
They have always maintained the belief that ensuring their activities do not tamper with the environment it is the most noble and responsible thing to do (William et al 2007).
The company has been linked with cases of spending money on some organizations so as to sabotage their attempts to educate masses on global warming. This is because they are the major contributors of this (William et al 2007).
The company holds a belief that much as they would like to produce energies that are environmental friendly, it is still difficult and this is not going to be achieved anytime soon (Exxon Mobil Corporation 2003).
They have engaged in partnership with other companies in the world to provide benefits which can stay for long.
Back in the year 2005 being among the largest firms that produces fuel they broke the record for realizing a profit of over $35 billion yearly (William et al 2007).
Back in 2008 the company together with its other units gave over $224 million to contribute towards education for the poor (William et al 2007).
Its engagement in philanthropic activities cannot be forgotten in such areas as health matters beside scientific issues. In America, the company support efforts to raise standards of arithmetic and science (Exxon Mobil Corporation 2003).
In the past six years, the company has dedicated more than $1.4 to reduce the emission of harmful gases in the atmosphere (William et al 2007).
They have reviewed the responsibilities of the presiding manager. This has enabled him to solve problems when they arise in the absence of the chair. This has made the management more efficient (Exxon Mobil Corporation 2003).
Has taken part in providing diverse economic back up in creating systems for installing capacity. A good example is in Angola where they dedicated over $1.4 billion toward the same (Exxon Mobil Corporation 2003).
Over the years that the company has existed it has been referred as the biggest in terms of refining and marketing products fro crude oil besides owning the biggest firm that deals with petrol and chemicals globally (Fig. 1.2)
(Fig. 1.2) The biggest gas field owned jointly by ExxonMobil and Qatar petroleum
It has continued supporting minority groups such as the youths and women. In 2009 it contributed $865 towards them.
In the same year, the company entered in the records as the company that its employees lost the last time. This was a reduction by 10% from 2004 (Steve et al, 2007).
ExxonMobil's policy of cooperating with others to address global climate change became more visible in November 2002 with the announcement of the global climate and energy project (G-CEP). The project is the result of a $225 million initiative involving Stanford University, ExxonMobil, General Electric, E.ON, Schlumberger and Toyota (Steve et al, 2007).
The corporation offers many job opportunities such as analyzing and updating documents for ExxonMobil operations (Exxon Mobil Corporation 2003).
One can also be an auditor to access the books of accounts in various units as well as venturing persons (William et al 2007).
One can be hired as a controller of projects to oversee the implementation dealing with contractors given them (William et al 2007).
An opportunity for one to be hired to head research on products and advancement in technology so as to provide solutions to problems and come up with cost-friendly technical bench (Exxon Mobil Corporation 2003).
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One can be hired to advise human resource in terms of recruiting, on how to train and compensating workers (William et al 2007).
This entails working closely with other companies to ensure clients are satisfied, there is a good relation between them and the company and increasing sales by using ones expertise to assist clients solve their needs (William et al 2007).
As a mechanical engineer, one is expected to be in the technical bench in attempt to assist in attending crude substance and produce petrol products (William et al 2007).
As a communication analyst, one is anticipated to assist company's unit in developing systems in regard to telecom (Exxon Mobil Corporation 2003).
In the department of transportation, it involves ensuring the inputs reach the factory on time and good supply of end commodity to clients. These and so many others are some of the opportunities that ExxonMobil can offer (Exxon Mobil Corporation 2003).
The company is facing protests from stakeholders for not taking part in the reduction of global warming. It has completely been adamant to imitate other firms which are taking into energies which are environmental friendly (Steve et al, 2007). This has resulted to controversies arising to relieve off the chair some of his roles and assign them to another specialist out there (Steve et al, 2007). They continued to observe that, if something is not going to be done to improve the company's image, rival companies are likely to take over in the market. This is attributed to the fact that, they will rebrand themselves and be seen as being friendly to the environment. If this continues the meeting which is held yearly, will experience defeat (Steve et al, 2007)
The Valdez oil spill saw the company being held at ransom. The company almost faced disclosure with over three hundred lawsuits being brought against the company and certain of its subsidiaries (Steve et al, 2007). Payments under the plea agreement totaled $125 million-$25million in fines and $100 million in payments to the United States and Alaska for restoration projects in Alaska. Payments under the civil agreement and consent decree will total $900million over a period of ten years (Steve et al, 2007). The civil agreement also provided for possible payment of up to $100 million for the loss or decline in population, habitats, or species in areas affected by the oil spill which could not have reasonably anticipated (Steve et al, 2007). The remaining cost to the corporation from Valdez accident is hard to predict and cannot be determined at this time. It is deduced that the final report, net of reserves already provided, will not have a materially adverse impact upon the corporations operations or financial condition (Steve et al, 2007).
Step 4. ExxonMobil Standards of Business Conduct: Ethics Policy
The policy of ExxonMobil corporation is one of the strict is one of strict observance of all laws applicable to its business (Stephen, 2007).
The company's policy does not end there. Even when the law is permissive, the company opts to the way of highest integrity (Stephen, 2007). Local customs, traditions differ from region to region and this must be recognized. But honesty is not subject to criticism in any culture. Shades of dishonesty simply allow room for demoralizing judgments (Stephen, 2007).
Employees must understand that the corporation does care how results are arrived at, and not just that they are obtained (Stephen, 2007). Employees must be encouraged to tell higher management all that they are engaging in, to record all transactions accurately in their books and records, to be honest and forthcoming with the corporation's internal and external auditors (Stephen, 2007). The company expects workers will take forward speculations on violations of law to the management.
The company expects compliance with its standard of integrity throughout the organization and will not tolerate employees who achieve results at the cost of violation of laws (Stephen, 2007). The company backs up and anticipates you to support, any worker who passes a chance up an opportunity or benefit that would undermine ethics (Stephen, 2007).
Something else which is very vital is that the firm anticipates candor from managers at all stages and abiding with ExxonMobil policies, laws of accounting, and controlling (Stephen, 2007). A harm that leads to managers concealing data from higher management or the auditors is that auxiliaries within their departments think they are being given a hint that firm policies and laws can be ignored when they are inconvenient (Stephen, 2007). This can lead to corruption and demoralization of an organization. The company's management will not work without honesty, including honest bookkeeping, honest budget proposals and honest economic evaluations of projects (Stephen, 2007).
It is ExxonMobil's policy that all transactions shall be accurately reflected in its books and records. This is of course, means that falsifications of its books and records in the creation or maintenance of any off-the record bank accounts is strictly prohibited (Stephen, 2007).