The Exxon Mobil Corporation works in the energy sector and produces and develops natural gas and crude oil. Chemical, Downstream, and Upstream are among the company’s business segments. Petrochemicals are manufactured and sold by the Chemical section, which is structured and operational. Petroleum products are manufactured, traded, and sold in the downstream industry. The work of the upstream segment is to locate and produce crude oil and natural gas (Kumar 103). The key drivers of Exxon Mobil’s high performance are the global financial crisis, which caused a decrease in oil supply and made Exxon one of the few reliable producers of oil and gas globally, as well as the increase in the cost of oil and other energy sources.
Exxon’s recruiting methods are fair and in keeping with the economic and political circumstances of the modern world. Exxon workers may participate in various professional growth programs, including Investing in the Working Globally Course, GlobeSmart, Diversity, and others. As part of their job perks, Exxon workers must pay a sum of $ 302.00 to the corporate pension fund each month (Cronshaw 191). Furthermore, Exxon encourages a pleasant work environment by focusing on corporate culture and addressing employee difficulties. Exxon’s operation is complicated by its sophisticated equipment and cutting-edge technologies.
Exxon’s accounting is also problematic since its companies are located all over the globe, and their taxes must be transformed into US tax rates to be paid (Ruka and Mona 442). Exxon’s marketing methods are also meant to allow firm managers to control and grow product sales markets. Exxon is also well-known for its charitable efforts and environmental stewardship. Overall, Exxon is a successful and established firm that is a global leader in the oil and gas industry.
In conclusion, the company applies proper recruitment methods accompanied by employee development and proper use of technology to cope with the changing economic times to achieve efficiency. The firm is also developing a new Procurement platform, enabling the corporation to interact with the leading suppliers on terms and conditions, pricing, and other agreements more efficiently and effectively.
Works Cited
Cronshaw, Mark. “Energy Industries.” Energy in Perspective. Springer, Cham, 2021, pp 189-202. Web.
Kumar, B. Rajesh. “ExxonMobil Merger.” Wealth Creation in the World’s Largest Mergers and Acquisitions. Springer, Cham, 2019, pp 101-109. Web.
Ruka, Anna, and Mona Rashidirad. “Exploring the environmental strategy of big energy companies to drive sustainability.” Strategic Change Vol 28. No 6 2019, pp 435-443. Web.