Leadership Traits Required for Successful E&P Companies Essay

Leadership Traits Required for Successful E&P Companies - Essay Example This research will begin with the statement that Oil and Gas exploration industry in Africa is growing at a significant rate. The continent has a lot of potential for development and growth. This potentiality is helping Africa to experience significant foreign direct investments and business deals. The leaders are considered as major growth drivers of this oil and gas industry. It is the responsibility of the leading organizations to minimize the chances of workplace hazards. It is important to ensure health and safety of the employees to attain high reputation in the business market. Several leading organizations are implementing different types of leadership traits in order to meet the demand of the global population. British Petroleum is one of the leading organizations around the globe. They are operating in almost 80 countries. The brand image and personality helped the organization to expand their business in global marketplace. Tony Hayward and John Boone took some initiatives to maintain sustainable business operation of BP in the global market. But lack of pre-assumed initiatives and safety measures by Tony took the priceless lives of 11 employees in Rig explosion. The essay effectively discusses that a global organization cannot achieve success without best sustainable business practices and ability to motivate business partners and staffs. Introduction The oil and gas companies are growing on a continuous basis in Africa. The continent supplies about 8% of the total oil supply in the world which is equivalent to about 132.4 trillion barrels of oil every year. Adding to this the continent also supplies 7.0% of the oil that the entire world consumes. The continent has a shale gas potential of 15.7% of the world production and produces about 12% of the total production of oil in the world. This had led to the development of numerous oil and exploration companies in the continent and at present, there are about 32 national oil producing companies in Afri ca. Since the continent has a lot of potential for growth and development, it experiences a lot of foreign direct investments and deals throughout the year. Most of the potential regions providing oil are in the countries of Nigeria, Libya, Algeria, and Egypt. Thus the oil and gas industry is a booming industry in Africa and the success behind the growth is the natural resources that the countries are blessed with and the leaders of the companies who channel the resources in the right direction to generate the desired outcome. Leadership Traits Required for Successful Oil and Gas companies in Africa. The leaders act as the chief drivers of the growth of the oil and gas industry. The industry is exposed to a lot of risks and therefore the leaders of the companies have to be instrumental in running the entire drilling and exploration process safe and efficient. This safety awareness in the organization is essential both at the organization level and at the individual level. Thus the l eaders must practice this principle at every level of their operations. They should also maintain a safe environment for the workers of the companies. Along with this, they have to be extremely committed to the work that they deliver and this attitude should act as a guiding behavior for the rest of the employees of the organization. The leaders should aim at optimizing the conditions of oil exploration by minimizing the risks and maximizing the productivity. That would enable the companies to provide welfare to the society by and large. The leaders in this particular industry often make wrong decisions that lead to several accidents and injuries without reaping any substantial benefits. Thus it is necessary for the leaders to not only provide a guideline to the people regarding the work proceedings but also to monitor and scrutinize the activities on a day to day basis. These services have to be rendered by the leader with a lot of honesty otherwise the desired results cannot be ac hieved.

How to Develop Growth Strategies for Businesses Case Study

How to Develop Growth Strategies for Businesses - Case Study Example After having full knowledge about all these we have to develop strategies about taking advantage of existing customers. For this Kelly should not leave her established business and attract existing and loyal customers to her new restaurant by giving them some sort of incentives in terms of discounts and one dish offered. Better promotion policies should be used for the attraction of new customers. More focus should be on the quality of food items that the restaurant will offer. Talented and efficient employees are the asset of any organization but organizations also have the responsibility to develop the best working environment to take full advantage from these employees. The use of new technology is also required for the best quality and efficiency. 2. Business Form Kelly should start her new business as a limited liability company (LLC). Most of the costs for Sole proprietorship and sole LLC are the same but one fee is required (Anaejionu, 2012). When filing a certificate of formation for an LLC which is done through the secretary of state and its fee is not more than 300 dollars. There are many reasons to advice Kelly to run her restaurant as sole LLC. First of all, LLC provides limited liability if there are losses in business then creditors are limited to the assets of the business and they can not claim against personal assets of the owner. Through sole LLC Kelly will be able to issue new shares of stock to new owners in order to raise funds to grow business. But in the sole proprietorship, she is limited to take loans only from banks.