Thursday, August 22, 2019

Valero Energy Essay Example | Topics and Well Written Essays - 1250 words

Valero Energy - Essay Example 4. Critically discuss whether Valero Energy has diversified its products and services. Provide 3 recommendations with a timeframe included of how Valero Energy can create better value through diversification of its corporate-level strategy. 5. Critically discuss whether Valero Energy has created and sustained a competitive advantage through its business-level strategy. Provide 3 examples of different environmental influencers that have affected its business-level strategy. [1] Valero is a refiner of oil feedstock. It buys oil from companies that extract them from the ground and Valero turns the stuff into clean fuel and other products like plastics, asphalt, aromatics, etc. that it sells to other companies. Valero’s entrepreneurial philosophy is closer to that of a small family business where all who work for it feel that they have a stake in the success and profitability of the company. In a June 2006 interview with HR Magazine, Valero’s first CEO (who retired in 2005) admitted that the concern of management is basically how to take care of its people so that they improve their operations, increase refining capacity and yield, and help run the company better. Profits usually follow because the people are happy working for the company. Since 1980, the company has taken care of its people – it has not laid off a single employee in the last twenty-nine years – and so has the luxury of getting the best among those who apply for jobs there, rewarding them for their contributions to the company. Process and product innovations at Valero are managed by sharing the R&D expertise of researchers for its four fuel (gasoline, diesel, jet fuel and renewables) and eight specialty (aromatics, asphalt, propane, sulfur, base and process oils, petroleum coke, solvents and natural gas liquids) products following the basic guidelines of being environment-friendly,

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