A study of sustaining growth in petroleum industry
Thesis (S.M.M.O.T.)--Massachusetts Institute of Technology, Sloan School of Management, Management of Technology Program, 2000.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2005
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| Online Access: | http://hdl.handle.net/1721.1/9281 |
| _version_ | 1811080441173639168 |
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| author | Lee, YongTae, 1951- |
| author2 | Henry Birdseye Weil. |
| author_facet | Henry Birdseye Weil. Lee, YongTae, 1951- |
| author_sort | Lee, YongTae, 1951- |
| collection | MIT |
| description | Thesis (S.M.M.O.T.)--Massachusetts Institute of Technology, Sloan School of Management, Management of Technology Program, 2000. |
| first_indexed | 2024-09-23T11:31:44Z |
| format | Thesis |
| id | mit-1721.1/9281 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T11:31:44Z |
| publishDate | 2005 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/92812019-04-13T00:09:46Z A study of sustaining growth in petroleum industry Lee, YongTae, 1951- Henry Birdseye Weil. Management of Technology Program. Management of Technology Program. Management of Technology Program. Thesis (S.M.M.O.T.)--Massachusetts Institute of Technology, Sloan School of Management, Management of Technology Program, 2000. Includes bibliographical references (leaves 82-83). With slowdown in the growth rate of petroleum product consumption, petroleum business is maturing and becoming commoditized. In maturing industries, cost leadership and operational excellence is important, but it is not sustainable. Inevitably, competition will squeeze margins, even for the cost leaders. In order to sustain growth, companies should continuously explore potential enlargement of its offering vis-a-vis its competitors and customers' expectation. A set of industry case studies in petroleum, energy utility, steel and airline industries have been performed to identify opportunities for differentiation and to examines how the successful companies manage the innovation in developing sustainable growth strategy. Analysis of industry case study identified some important differentiating factors and approaches. It suggests, in general, that successful companies focus on Customer Solution. The customer solution reflects a shift in strategic attention from product to customer-from product economics to customer economics and customer's experience. To capture a value position and enhance profitability-in other words, to decommoditize the commodity product/service-they redefine its services to reach into the customer's own business to solve more fundamental problems. They segmented the market to better design and deliver tailored, customer-specific services bundled with commodity products. Unless companies are going to compete mainly on price, value added solutions are a necessity. Innovation, and more importantly effective implementation of innovation, is a prerequisite for a sustainable growth. In conclusion, I made suggestion for one company to achieve sustainable growth and recommendations for future research. by YongTae Lee. S.M.M.O.T. 2005-08-23T12:00:00Z 2005-08-23T12:00:00Z 2000 2000 Thesis http://hdl.handle.net/1721.1/9281 45746642 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 83 leaves 6587006 bytes 6586763 bytes application/pdf application/pdf application/pdf Massachusetts Institute of Technology |
| spellingShingle | Management of Technology Program. Lee, YongTae, 1951- A study of sustaining growth in petroleum industry |
| title | A study of sustaining growth in petroleum industry |
| title_full | A study of sustaining growth in petroleum industry |
| title_fullStr | A study of sustaining growth in petroleum industry |
| title_full_unstemmed | A study of sustaining growth in petroleum industry |
| title_short | A study of sustaining growth in petroleum industry |
| title_sort | study of sustaining growth in petroleum industry |
| topic | Management of Technology Program. |
| url | http://hdl.handle.net/1721.1/9281 |
| work_keys_str_mv | AT leeyongtae1951 astudyofsustaininggrowthinpetroleumindustry AT leeyongtae1951 studyofsustaininggrowthinpetroleumindustry |