ExxonMobil was a company that was formed by the merger of two oil companies situated in New York and New Jersey called Exxon and Mobil, respectively. Currently, ExxonMobil is situated in New Jersey. This company largely deals with crude oil, natural gas, oil products, and many other energy-related products. This company is an S&P 100 and S&P 500 trading component. It is one of the largest traded public components in the stock market and has made a surplus amount of profit. We will discuss ExxonMobil Mission Statement & Vision Analysis here.
This company is fully committed to making the oil and energy industry rise to the top of the world-leading profitable business. The world depends on oil and gas to power its appliances and resources, so it is already halfway there to become the leading energy provider. Due to their large oil reserves, they are the 7th largest oil reserve company in the world.
They haven’t been particularly clear about their mission statement, but we will be looking at a quote derived from their website that can be analyzed as to their mission statement. This statement can help us determine what the company aims to do in the future, its plans for the present, and the oil war between various industries.
Due to the no mission statement, there have been frequent cases alleging various nefarious acts, but they have eventually proved themselves to be innocent. They have done the work properly and have committed to the acts of redeeming themselves after the work is done.
The same goes for their vision statement, as it has no clear indication. We will still be borrowing from their website and figure out what to do with the statements and the elements we have analyzed. The vision statement will help us see what the company plans on doing for the customers in the new future and what their plans are for the same.
We will use statements from their website to analyze the company’s values, and we will take a look at the hidden meaning behind those statements. These statements will help us analyze what has kept them going and what values stimulate them.
We will be deeply analyzing the mission, vision, and value statements and seeking their deeper meaning to each of the elements in them. We will be reviewing a couple of questions along with giving a conclusion to the article.
ExxonMobil Mission Statement Analysis
ExxonMobil Mission Statement has not released officially yet, but given its history and the information written on its website, we can figure out a mission statement. Their mission statement will revolve around making the world efficient and effective using crude oil and their oil products. Their mission will also focus on using energy sustainably and increasing the standard of living by providing affordable energy sources.
Their mission statement will sound like this,” Providing energy to the world’s economies at an affordable rate. Meeting all the challenges for providing energy head-on, and solving those problems in a practical, safe, reliable, social and environmentally acceptable manner.” There are 3 elements we need to analyze in this statement.
- Providing energy to the world’s economies at an affordable rate
- Meeting all the challenges head-on
- Solving problems in a practical, safe, reliable, social, and environmentally friendly manner.
- The first element is providing energy to the world at an economic rate. Oil and Gas are the most important factors required for any economy to carry out its day-to-day functions. And if the prices for those are at an all-time high, the people will not be able to afford even the barest necessities. That is why this company should aim at providing consumers with the best quality of oil and gas at affordable rates.
- The most important thing for any energy-providing business is getting customers and providing gas and oil at an affordable rate. Getting customers becomes easy if the products are sold at a low price. That is why this company must ensure that they provide the best oil quality to the economies at a rate that they can afford.
- Meeting challenges and solving them for the company and its employees is one of the company staff and the owners’ most important parts. It allows them to communicate with each other and inquire what is to be done and how the problem is to be solved. If communication is not present, the company will easily crumble away. Miscommunication and lack of communication is a tough challenge that every company must face.
- There are many other challenges the team must face. Still, they are related to market conditions, material availability, shipping problems, economic fluctuations, trend change, income flow, and an increase in expenditure. These challenges are not easy to deal with and require full commitment to the job and advanced market knowledge. That is why the hiring criteria for ExxonMobil are complex and require immense knowledge of the market and the products the company sells.
- Solving the problems of the company and meeting the challenges go hand in hand. But solving problems in the way mentioned above requires an immense amount of patience and responsibility towards the company. Being practical means thinking of manageable solutions without harming the employee and their schedule and getting faster work done. Safety and reliability go together and ensures the protection and continuation of the company name after actions.
- Social responsibility is a huge thing for companies, and it means taking actions that are good for people. In contrast, environmentally friendly actions are good for the safety and endurance of the environment. That is why most companies want to make sure their services are according to the customers’ safety and reliability. This does a consistent amount of business for the companies and ensures the organization’s cash flows without any interruptions.
ExxonMobil Vision Statement Analysis
ExxonMobil is very particular o where it wants its future to head on to, and it wants the employees and the shareholders of the company to know the same. They aim to share a bright future with the people who purchase their products and are always aiming to suffice their shareholders’ needs by trying their best to stay in the market trend. Thus they are very particular in their efforts to spearhead the economy and make sure the company flows in the best directions.
The vision statement is implied as” to safely and responsibly meet the world’s growing needs for energy and high-quality chemical products.” There are two main elements we are going to be analyzing in this vision statement. Those elements will tell us what the company aims for its future and what it will provide in terms of benefits to its clients. The elements are:-
- To safely and responsibly meet the world’s growing needs
- Energy and high-quality chemical products
- The first statement talks about the company is one of the best in listening to the needs of their nation while also making sure their services reach the world’s economies and make them profit. Gas and oil are very volatile and sensitive things to handle. A simple fumble here and there can lead to leaks and explosions, as has happened with many companies.
- ExxonMobil aims at responsibly handling those volatile sources of energy and reliably ship them around the world with lesser damage than most companies. Thus, making it one o the most responsible oil shipping companies globally, fetching them worldwide recognition and tons of profit in their shipments. They have tried to make a difference both environmentally and economically in their endeavors.
- The second element talks about supplying the companies with energy, not just any energy sources, high-quality and dependable sources that will help the advancement of their companies and help power their future and make sure they have a good run using their products. The difference between most energy-producing companies and ExxonMobil is that they are committed fully to provide high-quality energy sources.
- This company’s main job is to provide companies and economies with the best quality products regarding energy and gas. Their whole reputation is based on the fact that they provide good crude oil and a knack for being the best in dealing with energy products. Even if they do not provide the best, they have to maintain their reputation due to the economies relying on their tendency to be consistent with their products.
- They avoid many things, one of which is not making false commitments and making sure they do not back down on the commitments they made. This has always helped them make promises and be careful about their marketing and business decisions while also giving them a good reputation.
ExxonMobil has gotten very far due to its roots while primarily relying on its values. This has helped them stay in the eyes of their customers and the economies while also making sure their business always flows positively. This has also allowed them to extract the best in their products and show their brilliant service to the rest.
Their values include, “work flexibility, safety and security, recognizing human rights, integrity and diversity and inclusion.” The elements we will analyze are:-
- Work Flexibility
- Safety and Security
- Recognizing human rights
- Integrity, diversity and inclusion
- Work flexibility means always being adaptable to the work environment inside the offices and on the outside. It is to always work according to the superiors’ orders while also making sure the people who purchase their products get the commitment and reputation packed into the product. This has allowed them to exceed their work ethic and provide the best to their customers.
- Safety and security are very important in the energy business, especially in the oil and gas business. Everything can go wrong with a slight change and mistake. That is why this company has told its employees to be careful when handling the chemicals. This protects employees and people.
- Recognizing human rights and not differentiating between people is the foremost role of any organization and humans in general. This company prides itself on treating everyone with equal respect and makes sure the people are treated well.
- Integrity means being honest about the services the company gives to its customers. Diversity means variance in not only the employees but also the products and the company aims. Inclusion means the employees and the shareholders, all of the people should be included in the planning and deliverance of the products. Teamwork makes the dreamwork.
The takeaway of this article is that ExxonMobil is one of the most leading brands of energy and crude oil production globally, and they have used their reputation to earn themselves lots of profit along with the best employees. They have committed many hours to getting the best employees and high-quality products to make the best use of technology.
This has allowed them to build a strong foundation for their future in the world of energy and can allow them to innovate and test out their metal in different paths of chemicals as well.
- What is ExxonMobil known for?
- ExxonMobil is known for its chemical and crude oil production lines and large shipping of gas and oil. They have made a name for themselves in this business and plan to expand it and cover other sources of energy.
- Is it worth investing in ExxonMobil corporation?
- Exxon Mobile is currently a not-buy due to many volatile things happening within the company, but their price has also fallen due to the pandemic. The future is still a little uncertain about the company, but it is sure to keep an eye out for an increase in the future.