Global Business Strategy - Essay Example

?Global Business Strategy Executive Summary The assignment mainly highlights the various characteristic features of Valero Energy Corporation. Moreover, it also focuses on the global business strategy attempted by Valero Energy Corporation to expand its operations in foreign markets. The study also includes the opportunities and the threats that might be faced by the organisation due to globalisation. It also highlights the varied assets and resources of the organisation, which has helped in expanding its functions in global markets. The study also aims to spotlight the numerous issues of Valero Energy Corporation that must be condensed in order to prosper and to sustain in future among other competing organisations. Table of Contents 1 Executive Summary 2 History and Internationalisation Process of Valero Energy Corporation 4 Current External Environmental Conditions 5 Industrial Conditions 6 Resource Audit of Valero 7 Identification and Evaluation of Firm’s Current Strategy 8 Analysis of Strategic Approach of Valero to the Global Management of Its Operations 11 Issues Faced By Valero 12 Recommendations 13 References 16 Bibliography 20 History and Internationalisation Process of Valero Energy Corporation Valero Energy Corporation is one of the largest and autonomous oil refineries of the United States. It is a reputed brand and a Fortune 500 corporation with its head office located in San Antonio of Texas. Valero is the producer and the marketer of transportation oil along with varied other petrochemical products. Along with refining, it also functions in two other segments namely retail and ethanol. In addition, Valero encompasses and functions with the help of 15 refineries throughout the entire United States, Canada, Caribbean and the United Kingdom. With the help of the acquisition of the refineries, Valero produces a capacity of approximately 2.9 million barrels of oil every day. The prime objective of Valero is to offer its customers clean and sterile fuel and other petroleum products in order to enhance its consistency and dependency (Valero Marketing and Supply Company, 2012). Valero is a leading manufacturer of ethanol as well encompassing of a capability of generating about 1.1 billion gallons each year in order to satisfy the needs and the demands of its consumers. Valero is one of the foremost retail operators of refined fuels and markets its products on a wholesale basis throughout bulk and rack networks along with 6,800 retail outlets named as Valero, Beacon and Diamond Shamrock. The organisation was established in the year 1980, with the aim to diversify itself into an international conglomerate operating in oil and gasoline sector. Valero started its operation as a spinoff of a Coastal States Gas Corporation and is also recognised as the global manufacturer and dealer of transport fuel (Valero Marketing and Supply Company, 2012). Valero is a vehicle of advancement which always attempts to enhance its business operations throughout the world with the help of varied mergers and acquisitions such as Basis Petroleum Inc, Ultramar Diamond Shamrock and Pembroke Refinery. This strategy has mainly resulted due to the increasing demand of fuel in the emerging markets across the globe in order to develop and update their economies along with sluggish growth rate of oil in the markets of the United States. It is one of the most imperative strategic challenges faced by Valero, which forced the management to undertake this tactical step. It proved quite beneficial for Valero to augment its international functioning resulting in improvement of its net revenue to US$ 125,987 million in the year 2011 as compared to US$ 82,233 million in 2010 (Valero Marketing and Supply Company, 2012). Moreover, the operating income also enhanced to US$ 31, 293 in 2011 from US$ 20, 561 in the year 2010 (Valero Energy Corporation, 2010). Thus, international business dealings helped Valero to augment its brand identity and equity among other competitors of this segment in the global market. The objective of the assignment is to highlight varied aspects of Valero Energy Corporation by describing its various operational and functional strategies. It is mainly performed in order to analyse the current external environmental conditions and challenges faced by Valero. Moreover, resource audit operations have also been performed in order to identify the resources and the assets of the organisation along with its strategies to evaluate the position of the company in international market. It is required in order to analyse the global strategy adopted by Valero to expand its business actions. Current External Environmental Conditions Valero is one of the renowned refineries of North America and a leader in conversion capability and feedstock flexibility. It has a strong product portfolio due to its large number of refineries and a strong global distribution system. However, due to certain macro environmental challenges the competitiveness of Valero is dwindling (Scribd, n.d.). Due to alterations in the prices of retail gasoline and petroleum, the demand of diesel products increased by a considerable extent, which hindered the profitability of Valero but also, offered an opportunity to explore and enhance its market share. This can be possible only by offering diesel products as well to its customers, which might augment the portfolio of its brand along with uniqueness. Moreover, it would also help Valero to augment its efficiency and effectiveness in global scenario. The other significant opportunity is to provide more concentration over personal label products rather than commercial, due to the altering patterns of the industry. In order to do so, the organisation may acquire certain fresh ethanol plants to enhance its dominance in this segment (Scribd, n.d.). Moreover, in order to retain its brand image in this era of industrialisation, Valero might also endeavour to offer quality efficient products at an efficient cost. It is extremely essential for an organisation dealing in oil and gasoline sector to reduce the switching cost of the customers and to augment their level of dependency. Similarly, Valero should also include certain other strategic agreements in order to expand its operations of ethanol all around the globe in a successful way in order to cope up with its growing demand in recent era (Scribd, n.d.). Thus, along with varied opportunities, Valero is also experiencing certain risks as well. The recent global monetary crisis is also a significant factor which has highly affected the growth of the organisations operating in refined oil segment. As a result of financial turmoil, the demand of the petroleum products has declined resulting in downfall of the market share and productivity of Valero (The World Bank, 2010). The threat of new entrants in the areas of Middle East is also a considerable risk for Valero as it might reduce its distinctiveness and value in the market. The political instability within the economies all around the globe is also hindering the path of expansion of Valero, which might prove detrimental in future. This is because it may result in non-uniform relationships, by enhancing the risks of the business (The World Bank, 2010). Thus, from the above discussion, it can be revealed that the reputation of Valero might get hampered due to changing market conditions. Industrial Conditions Refined oil industry serves as the backbone for both the underdeveloped and the developed countries all across the globe as it offers a significant contribution over the Gross Domestic Product (GDP) of the economies. Besides, due to globalisation and industrialisation, the inimitability of lubricants and gasoline industry exhibited an extensive improvement of its growth owing to utilisation of varied technologically sophisticated extracting techniques along with equipments (Wamsted, n.d.). This has helped in enhancement of its position in this sector, which might prove helpful in satisfying the oil demands of the economies globally. Besides, due to certain industry based challenges, the economical opulence of refined oil is diminishing at a rapid pace (Scribd, n.d.). Implementation of various government rules and regulations has resulted in increment of the prices of refined products, which has reduced its demand in global emerging markets. On the other hand, certain governments globally have reduced the tax duties and fees over gasoline products, which have enabled to open new opportunities for Valero, by extending its product lines. It also offered higher prospects for new players to enter into this market, which might enhance the competitiveness and the scope of the industry’s existing brands. This would enhance the gross margin generated from refined products in both wholesale and retail markets, which might be highly advantageous for Valero to sustain in this aggressive period. Moreover, governments in global emerging markets have also implemented certain policies which have strengthened the utilisation of licenses for the companies operating in this segment, in order to reduce commercial malpractices. It helped Valero to enhance its brand image among its target customers by offering pure and uncontaminated oil, which augmented its economies of scale as well as market size. It would help in augmentation the loyalty and the consistency of the customers (The World Bank, 2010). Hence, it can be avowed that changing industry situations have proved quite advantageous for the organisations operating in the oil sector. Resource Audit of Valero Valero Energy Corporation is the market leader of oil industry and also the United States’ foremost retail operator in the international market. Valero has grown from a regional energy manufacturing organisation to be one of the largest refineries in North America largely with the help of its constant investment and commitment towards its assets, resources and competencies in order to augment its market share and reputation (Valero Energy Corporation, 2007). Valero always attempts to enhance the amount of its total assets, which became US$37, 621 in 2010 as compared to US$ 35, 572 in 2009 (Valero Energy Corporation, 2010). This became possible by increasing the sum of current assets to US$ 11,877 in 2010 from US$ 11,136 in 2009 due to reduction of inventory cost from US$4,863 in 2009 to US$4,804 in 2010. Moreover, the cost of property, plant and equipments also augmented to US$ 29,930 in 2010 from US$ 28,463 in 2009, which enhanced its brand assessment and exclusivity among other competing players of the global market. In addition, the quantity of intangible assets along with deferred charges also increased from US$1, 395 in 2009 to US$ 1,585 in 2010. As a result, the operating revenue also enhanced from US$18,573 in 2009 to US$ 22,210 in the year 2010 (Valero Energy Corporation, 2010). It also helped to augment the goodwill of Valero thereby amplifying its fidelity and corporate image among other apparent companies operating in similar segment. In addition to assets, Valero also offers significant attention upon its employees as they are one of the most vital resources of the organisation. The success of Valero is mainly due to its committed and skilled workforce. It also possesses an excellent team of executives which comprise Bill Klesse, Gene Edwards and Kim Bowers to implement varied inventive strategies and techniques in order to augment the efficiency of Valero (Valero Marketing and Supply Company, 2012). Valero also consists of competent board of directors, which has helped in augmentation of its business functions. In order to retain the capable employees, Valero also offers competitive salary along with performance based rewards (Valero Marketing and Supply Company, 2012). Valero also provides computer based and on-job training programmes to its employees in order to enhance the technical skills and understanding, which would prove beneficial to cope up with future challenges. Moreover, it might also improve the interpersonal relationship among the employees of diverse departments resulting in enhancement of dexterity among them. It might also help to improve the proficiency and efficacy of Valero in the market (Valero Marketing and Supply Company, 2012). Valero has implemented SAP net weaver in order to offer an excellent Service-Oriented Architecture (SOA) to its employees. The support of information technology (IT) helped Valero to improve competency and effectiveness of its business processes, reliability along with accuracy in tracking systems of performance. It also facilitated Valero to organise the operations of the business resulting in higher financial and strategic profits (SAP AG, 2010). Thus, it can be revealed from the above discussion that due to its exceptional assets, resources and competencies, Valero has been able to sustain a constant track record of growth and integration. Identification and Evaluation of Firm’s Current Strategy Valero Energy Corporation is recognised as one of the most geologically assorted refining organisations stretching from Canada and the US gulf, West Coast to Caribbean. This has helped Valero to enhance its productivity and total revenue in a very short period of time. Hence, it was ranked as a renowned American organisation by Forbes Magazine and it also received the Employee Pride Award from Fortune Magazine. This can be possible due to the uniform employee behaviour and culture of the organisation (Valero Marketing and Supply Company, 2012). The board of directors of Valero offer high concentration upon its employees. This is because only with the assistance of the employees, an organisation can develop and prosper by accomplishing its future objectives and desires. In order to fulfil this intention, the management of Valero attempts to provide their employees with a safe, uniform and reliable place to work so that it helps them to improve their performance. Valero provides both professional as well as process safety to its employees, by implementing various inventive tools and machines along with sophisticated management systems in order to maintain optimum security of its workforce. Due to this action, the organisation had been rewarded prestigious awards by Occupational Safety and Health Administration (OSHA) and California Division of Occupational Safety and Health (Cal/OSHA). Valero provides varied types of training and development programmes to its employees in order to amplify their dedication and creativity. Moreover, they are also consulted during any decision making process, which also enhance their morale and self-esteem (Valero Marketing and Supply Company, 2012). The other corporate strategy employed by Valero is its commitment towards the environment as well as community in order to strengthen its path of success. Valero has attempted to utilise new infrared technology to reduce the emission of various pollutants to the atmosphere. It has also installed ‘low-temperature oxidation technology (LoTOX)’ and has worked towards declining the use of benzene from gasoline in order to offer quality products to its customers. This is mainly done in order to reduce the discharge of harmful greenhouse gases into the atmosphere (Valero Marketing and Supply Company, 2012). Moreover, Valero and its employees are also involved in varied community supporting work as well namely children golf classic, muscular dystrophy association and Valero Texas Open among others in order to support the activities of younger ones in the society (Valero Marketing and Supply Company, 2012). In addition to corporate strategy, in order to develop the business units, Valero has implemented the software of SAP, which has eased the business operations and improved the enthusiasm of the employees. Moreover, it has implemented numerous superior technologies and equipments along with diverse types of training programmes for the development of employee skills resulting in enrichment organisational excellence. It would help to enhance both the quality and the quantity of the products of Valero among others in the market (Valero Marketing and Supply Company, 2012). This is one of the main reasons, which has helped Valero to position itself in varied international emerging markets. Another vital cause which has been a cornerstone for growth and expansion of Valero’s operations is its insistent acquisition and funds investment strategy. This strategy proved highly successful for Valero by offering it a record-breaking intensification from a single processing plant to 15 refineries. It assisted Valero to fulfil its vision to become a world-class challenger in the segment of universal energy business (Valero Marketing and Supply Company, 2012). As a result, the total profit of Valero also enhanced by a significant extent in the year 2011 as depicted by the below diagram. Profit Margin of Valero in 2010-2011 Source: (Barrons, 2011) Thus, it can be portrayed from the above discussion that the acquisition strategy facilitated to fashion lucrative synergies, reinforced Valero’s geographic variety and increased its capability to produce cost efficient clean oil. Hence, it can be said that these strategies helped Valero to enhance its dominance along with renewable energy portfolio, which amplified its presence within the emerging nations as well. This has helped to reduce Valero’s limitation of strong dependence upon the US market. Moreover, introduction of new plants also moderated the issue of livestock feed named distillers grains to a considerable amount. Apart from these, Valero also enriched its reputation in the global economies due to its exceptional methods of refining and distribution system, which boosted customer reliability and trust. It is extremely essential for a multinational organisation like Valero to sustain in the long run. Therefore, the strategy of acquisition proved to be a sustainable strategy for Valero (Yousigma, n.d.). Analysis of Strategic Approach of Valero to the Global Management of Its Operations In order to establish as a world class competitor in the sector of global energy business, the management of Valero is attempting to implement aggressive action plans to accomplish the future requirements and refurbish profitability margin. The main objective behind this decision is to expand the activities of Valero in various emerging nations to increase its corporate image. This can be possible only with the help of its exclusive administration team, including the Chief Executive Officer (CEO), Mr Bill Klesse along with other five Vice President’s and employees are acting as the driving force to retain the organisation’s assortment in the long run. Moreover, at the time of any strategic decision, the management shares information with the employees prior to finalising any verdict, this depicts that the employees also possess equal opportunity of providing any resolution (Valero Marketing and Supply Company, 2012). This intention facilitates to develop a culture of uniformity and harmony within the hierarchy, which has proved quite beneficial for Valero to penetrate in numerous promising markets across the globe. It has facilitated Valero to fulfil its objective of offering quality proficient fuel at reasonable cost to its customers in order to become the foremost quartile refiner among others in this sector (Valero Marketing and Supply Company, 2012). This would help Valero to extend its operations through the approach of acquisition resulting in higher returns and operational effectiveness. It would enhance customer satisfaction and loyalty, which is extremely essential for Valero to maintain its functions in worldwide markets. Thus, uniform culture and employee behaviour are the most important attributes of Valero, which facilitate the organisation to prosper in international rising markets. Issues Faced By Valero In recent times, due to industrialisation, the perception of sustainability has appeared with a new paradigm, i.e. competitiveness. Due to high opportunities of expansion and advancement in the segment of refined oil, various new entrants are entering thereby increasing the level of rivalry among them. For this cause, it is extremely necessary for any organisation of this sector, to offer pure and unleaded fuel to its customers in order to enhance its range of consumers. It would improve their level of allegiance and faithfulness leading to lowering of switching cost of the consumers, as the demand of petrol is reducing. It would also augment the total amount of turnover of Valero both in the US as well as other rising markets, which might increase the brand equity of the organisation. Thus, in order to cope up with this issue, Valero should offer more attention towards offering uncontaminated diesel along with petrol in order to attract more customers. Moreover, it should also endeavour to establish more diesel manufacturing plants through acquisitions in order to satisfy customer demands (Valero Energy Corporation, 2004). This might prove valuable for Valero to maintain a stable business function all round the globe. Valero can provide vigorous training and improvement programmes in order to augment the underlying skills and knowledge of the employees, which may result in introduction of varied innovative techniques of enhancing production excellence. Moreover, modern equipments are also extremely necessary to maintain a safe and a secure working environment for the employees of an organisation, which can lead to amplification of their enthusiasm and perseverance towards work. This is highly beneficial for Valero to retain its intercontinental operations (Valero Energy Corporation, 2010). Furthermore, Valero should also attempt to promote the retailing division equally along with other segments in order to improve its future prospects. It could restructure the business processes of retailing in order to reduce its dependency over refinery segment. Similarly, Valero may also focus on acquisitions of ethanol plants as well to expand it across the world. The development of these divisions might also enhance the identity of Valero among other apparent market leaders of this sector. Valero could also endeavour to offer more focus upon the production of domestic label products in order to retain its market supremacy (Valero Energy Corporation, 2010). It might also prove advantageous for Valero to increase its market share and firmness over other competitors. Hence, it might help Valero to attract large number of renowned business firms to merge with them resulting in extension of the brand value. Recommendations After assessing the entire situation of Valero, it can be revealed that the management of the organisation should introduce new machines to manufacture unleaded fuel. Moreover, it can concentrate more on diesel manufacturing process rather than petrol due to the demand of the situation. Both on-the-job as well as off-the-job trainings should be provided to the employees of Valero to increase organisational competence. It might help in proper harmonisation and communication among the employees of diverse departments resulting in a homogeneous organisational culture. Moreover, proper attention upon retail and ethanol segments can enable it to successfully sustain its profitability in the global marketplace. Course of Action Action How Sensible Measurable Achievable Realistic Timed 1) Pure and Unleaded Petrol According to the requirement of the situation and global strategy It would improve organisational efficiency It can be measured by evaluating the total revenue of Valero With the help of management and employees Reasonable cost Within 9 months 2) Diesel Manufacturing Due to the situational requirement of Valero Productivity of Valero By evaluating the profitability With management Reasonable cost Within 4 months 3) Training and Development In order to augment employee performance Efficiency of Valero To improve the productivity With management Reasonable cost Within 7 months 4) Inventive Machines Improve organisational output Efficiency of Valero To improve the total sales With management and employees Reasonable cost Within 4 months 5) Concentration upon Retail Segment Due to the situational demand of Valero Productivity of Valero To improve the profit margin With management and employees Reasonable cost Within 8 months 6) Attention upon Ethanol Production Due to the situational demand of Valero Productivity of Valero To improve the revenue With management and employees Reasonable cost Within 10 months References Barrons, 2011. Barclays: Valero Has 66% Upside. Article. [Online] Available at: http://online.barrons.com/article/SB50001424052748703365704576625002216422600.html [Accessed May, 03, 2012]. Scribd, No Date. Valero Energy Corporation. SWOT Analysis. [Online] Available at: http://www.docstoc.com/docs/110238580/Valero-Energy-Corporation-Company-Profile-and-SWOT-Analysis [Accessed May, 03, 2012]. Scribd, No Date. Terminologies in Petroleum Industry. Crude Oil. [Online] Available at: http://www.scribd.com/doc/14321573/Terminologies-in-Petroleum-Industry [Accessed May, 03, 2012]. SAP AG, 2010. Valero Growing with SAP Net weaver. SAP Business Transformation Study. [Online] Available at: http://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CDcQFjAB&url=http%3A%2F%2Fdownload.sap.com%2Fdownload.epd%3Fcontext%3D48868798F18E68C4F6447076965CAC2DC6E7B798CB995B4E81D058725C9FAD8AAAD17A2D1BC3D83A299A83E1AB37A30C77867E33631DC08E&ei=uFOjT-_qE4fzrQedleDbDQ&usg=AFQjCNGtGEK_BjNu-v8devRpbbSwfvmGNQ&sig2=8Losl0a8xkEz0iYcJgSgog [Accessed May, 03, 2012]. Scribd, No Date. Valero Energy Corporation. Summary Annual Report. [Online] Available at: http://www.scribd.com/doc/68131452/Valero-Energy-Corp [Accessed May, 03, 2012]. The World Bank, 2010. Petroleum Markets in Sub-Saharan Africa. Analysis And Assessment Of 12 Countries. [Online] Available at: http://siteresources.worldbank.org/INTOGMC/Resources/336099-1158588096604/eifd15_ssa_oil_markets.pdf [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Valero Energy Corporation. Financial Information. [Online] Available at: http://www.valero.com/InvestorRelations/FinancialReports_Filings_Statements/Documents/VEC_2Q11_10Q.pdf [Accessed May, 03, 2012]. Valero Energy Corporation, 2010. Summary. Annual Report. [Online] Available at: http://media.valero.com/flash/AnnualReport2010/pdf/report.pdf [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Valero. Stores. [Online] Available at: http://www.valero.com/Stores/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Energy Corporation, 2010. Financial Information. Valero Energy Corporation And Subsidiaries Consolidated Balance Sheets. [Online] Available at: http://www.valero.com/InvestorRelations/FinancialReports_Filings_Statements/Documents/VEC%203Q%202010%20Form%2010-Q%20FINAL.pdf [Accessed May, 03, 2012]. Valero Energy Corporation, 2007. Condensed Consolidated Balance Sheets. Condensed Consolidated Statements of Income. [Online] Available at: http://www.valero.com/Financial%20Documents/Annual%20Report%202007.pdf [Accessed May, 03, 2012]. Valero Energy Corporation, 2010. Annual Report. Financial Summary. [Online] Available at: http://media.valero.com/flash/AnnualReport2010/pdf/report.pdf [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Valero. Experienced Professionals. [Online] Available at: http://www.valero.com/Careers/Professionals/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Valero. Executive Team. [Online] Available at: http://www.valero.com/OurBusiness/Pages/ExecutiveTeam.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Valero. Board of Directors. [Online] Available at: http://www.valero.com/OurBusiness/Pages/BoardofDirectors.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Awards and Honours. Environmental Awards. [Online] Available at: http://www.valero.com/OurBusiness/Pages/AwardsHonors.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Environment. Focused On Alternative Energy, Technology. [Online] Available at: http://www.valero.com/Environment_Safety/Pages/Environment.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Community & Giving. Sponsorships. [Online] Available at: http://www.valero.com/Community/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Benefits & Culture. Comprehensive Benefits. [Online] Available at: http://www.valero.com/Careers/Pages/BenefitsCulture.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Board of Directors. Business. [Online] Available at: http://www.valero.com/OurBusiness/Pages/BoardofDirectors.aspx [Accessed May, 03, 2012]. Valero Energy Corporation, 2004. Financial Summary. Annual Report. [Online] Available at: http://www.valero.com/Financial%20Documents/Annual%20Report%202004.pdf [Accessed May, 03, 2012]. Wamsted, D., No Date. Oil and Gas Industry Sees Challenges, Opportunities Ahead. Technology Changes Everything. [Online] Available at: http://www.forbescustom.com/EnergyPgs/OilandGasIndustryP1.html [Accessed May, 03, 2012]. Yousigma, No Date. Valero Energy. Strengths, Weakness, Opportunities and Threats (SWOT). [Online] Available at: http://www.yousigma.com/comparativeanalysis/valeroenergy.html [Accessed May, 03, 2012]. Bibliography Valero Marketing and Supply Company, 2012. Our Business. Explore Valero. [Online] Available at: http://www.valero.com/OurBusiness/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Investor Relation. Quick Access. [Online] Available at: http://www.valero.com/InvestorRelations/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Financial Reports, Filings & Statements. Annual Reports. [Online] Available at: http://www.valero.com/InvestorRelations/FinancialReports_Filings_Statements/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Valero Stores. High Value Quality Gasoline. [Online] Available at: http://www.valero.com/Stores/Pages/ValeroStores.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Corner Stores. Refresh And Recharge At The Valero Corner Store. [Online] Available at: http://www.valero.com/Stores/CornerStores/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Branded Distributors & Dealers. Benefits of the Valero Brand. [Online] Available at: http://www.valero.com/BusinessPartners/BrandedDistributors_Dealers/Pages/Home.aspx [Accessed May, 03, 2012]. Valero Marketing and Supply Company, 2012. Unbranded Distributors. Doing Business With Valero Is Easy. [Online] Available at: http://www.valero.com/BusinessPartners/UnbrandedDistributors/Pages/Home.aspx [Accessed May, 03, 2012]. Read More