Key Goals of the Takreer Company - Research Paper Example

TAKREER Question Takreer engages in exploration, as well as, production of oil, natural gas, and petrochemicals. The company’s other operations include condensation refining, and production of granulated sulphur. It is one of the largest oil production companies in the world with a capacity of around 2.5 million barrels per day. 2. Question 2 The company has built a dedicated customer base including residential, commercial, municipalities, schools and Marinas 3. Question 3 Over the last three decades, the company has significantly increased production of oil to meet the rapidly increasing demand for energy. The company explores, manufacture, and distribute oil in an environmentally sensitive manner. The company has a high regard of safety to its workforce, as well as, the community. The company’s vision is to become one of the leading diversified oil companies in the world, characterized by a highly motivated workforce, as well as, safe operations. The company’s mission is to enhance profitability and safety in mining and supplying of hydrocarbon fuels and feedstock. The company as well focuses on contributing to development of the nation. One of the company’s key goals is fulfilling the country aspired standards for quality assurance, as well as, environmental protection. Because of global warming, there are set standards both locally and internationally, for environmental conservation. Because of the level of environmental degradation associated with mining companies, the company faces extremely high standards. Additionally, because of sensitivity of oil products, the products’ set standards are as well high. The company as well is committed to implementing a couple of national policies meant to increase employment opportunities for the citizens. The company has over 2000 employees in 35 countries. It has plans of designing training programs for UAE citizens to equip them with valuable skills that would enable them join the labor force. 4. Question 4 One of the key external factors that affect the company is the political factor. Over the last a couple of decades, there have been a series of political unrest in a couple of Middle East countries. This has been a threat to the stability of the company’s profitability. One of the key reasons behind this is the fact that the company serves a couple of countries in the Middle East. Another key factor is the economic factor. The global economic cycles affect the company’s profitability as well. For example, during the 2008 global financial crisis, the company registered a decline in profitability. On the other hand, when the global economy is doing well, the company registers increased profitability. Technological factor as well affect the company. For example, the company has taken advantage of the ever-changing technology to automate most of its oil production operations. This has enhanced efficiency in operations, which translates into increased profitability. Another key external factor is the competitive factor. High competition within the oil sector has eroded the company’s profitability. 5. Question 5 The company operates under a bureaucratic structure. This is characterized by distribution of power, which is necessitated by the fact that the company serves a large market. The structure is as well compatible with the large size of the organization. Additionally, the company’s refinery system is divided into a couple of units including crude distillation unit, kerosene merox unit, catalytic reformer unit, and sulphur recovery unit among other units. One of the company’s primary functions is refining of final products from crude oil. This is a value adding function, which contributes significantly to the company’s profitability. Another key function is exploration of oil to identify new mining sites. Additionally, the company transport crude oil, as well as, finished goods from the refinery plants to the retailers and wholesalers. Another function of the company is building shareholder wealth, which is done through increasing profitability. Lastly, the company markets its products. 6. Question 6 All the above functions work together to enhance the company’s performance. Through aggressive marketing, the company has grown its market share significantly. An extensive distribution channel is able to sustain the large market share. To ensure maintenance of the markets share, the company offer high quality products thus winning the consumers’ loyalty. All these contribute to boosting the company’s profitability. 7. Question 7 The company operates under a culture of teamwork and shared responsibility. Its core values include reliability, integrity, fairness, and improvement of human capital. To enhance reliability, the company ensures safe and healthy operations each day. To improve its workforce, the company designs regular training programs for it. Activity B 1. The organizations strategy, The organization’s strategy entails designing, implementing, as well as, evaluating the processes and decisions within the company, which help it in achieving its long-term goals. The organization’s strategy includes its objectives, mission and vision, which assist in designing of plans, in form of projects, that facilitate achievement of the organization’s objectives. 2. How HR activities support the organization’s strategy, One of the key HR activities that support the organization’s strategy relates to recruitment and selection of employees. The HR must ensure that it recruits people with the right skills desired in the organization. The HR must rigorously vet the applicants to ensure that they have the right skills and attitude. This supports the organization’s strategy in that the level of productivity goes up. In addition, the engaged employees would be in a good position to offer high quality services. When productivity goes up, the organization’s profitability goes up, which is a critical part of the organizational strategy. Additionally, when HR engage the right people that offer high quality services, the customer satisfaction goes up, which as well contributes to increased productivity. Another key activity relates to remunerations, as well as, performance appraisal. When the HR designs a good compensation policy, it is able to attract and maintain competent employees. This is for the best interest of the organization’s strategy. The HR as well designs an effective system of performance appraisal that is in line with the organizational strategy. Effective performance appraisal systems enable the HR to identify and reward the top performing workers and then rewarding them. This enhances motivation of employees, thus increasing productivity. Another key activity of HR that supports the organization’s strategy is training and development. By designing effective training programs aligned with the organization’s strategy, the HR succeeds in equipping the employees with the right skills necessary in achievement of the organization’s objectives. If the employees lack the right skills, they would not effectively contribute to achievement of the organization’s goals. Therefore, the HR identifies the organization’s strategy, which enables it to design the most effective training programs that would equip employees with the required skills. When the HR subjects the employees to regular trainings, they become more productive. This is for the best interest of the organization because the higher the productivity, the higher the profitability. This as well contributes to enhancing the organizations competitiveness (Bradfield Group 2012). 3. How the HR professionals support line managers There are a couple of ways, through which the HR supports the line managers, as well as, their staff. One way is through developing the right behavior, attitude, as well as, culture. The HR must work towards helping the line managers and their staff to understand numerous tools within their areas of operation, necessary in retention of talent. This may happen, for example, through linking the organization goals with performance appraisal processes. The HR must ensure that the line managers, as well as, their staff have the right attitude, culture, and behavior for them to contribute substantially to achievement of goals. The HR as well must create effective relationships. For example, when the line managers are working together with the HR, it is a challenge to the HR, to ensure that both of them can sit together and work effectively. This is critical to achievement of the organizational goals because, the HR is able to communicate the organizational goals affectively to the line managers, as well as, to their staff. That is the only time, whereby both the line managers and HR are in a good position to build a relationship based on mutual respect (Bradfield Group 2012). Another way through which the HR supports the line managers, as well as, their staff is through making them understand the organization’s goals and objectives. To achieve all the set objectives, the line managers and their staff must be aware of them. The HR must work on this to ensure that the line mangers and their staff work on the same direction of goals achievement. When everyone within the organization understands the organizational goals and objectives, they are in a good position to prioritize those tasks that are critical to achievement of goals. 4. The role that the HR functions has to the business’ overall performance All the HR functions are critical to the business success. For example, by designing effective recruitment processes, the HR is able to engage only those employees with the right skills, behavior, and attitude, which is critical to the overall success of the business. Training and development as well is critical because it equips the employees with the right skills thus enhancing productivity. A good compensation system as well ensures motivation of employees as well enhancing productivity. Reference Bradfield Group. (2012). Understanding Organisations and the Role of Human Resources. Certificate in HR Practice : [UK]. . Read More