Analysis Of The Firm Essay

Questions:

1. Evaluate the various types of customer process technologies with your team and recommend one process technology for improvement and implementation.
2. Evaluate your recommendation with the aid of the following
a.Alternative technologies
b.Long term strategic capabilities
c.Cost of change
3. Discuss how the recommended process technology can be implemented in a roject to facilitate the operations of the company.

Answers:

Introduction

The rapid growths over the past few decades in the field of industrialization have provided whole new beneficial aspects in the industrial sectors. The most of the benefits came from acquiring prolific resources via different sources. The significant growth has provided significant increment in the industrial field and the major sector that has achieved huge advantage is the production of energy i.e. the oil and gas sector (Acciaro, 2008). Analyzing the past, it has been seen that only the gulf countries were the most influential that led the momentum to the business. But with the rapid growth in industrialization has enhanced the opportunities of other countries to trade in on oil and gas mainly for the economic development.

The huge revenue structures and procedures, oil and gas production has become the most proficient interests to seek huge generation of revenue and strengthening of economies. With this huge opportunity one major drawback that has been crept in is the management aspect. Managerial functions are the key aspects that organize the business operations of an organization. Assessing the huge demand of oil and gas in the present economy it is critically important to evaluate and perform the business operations to generate revenue (Alhawari, 2013). Thus, the management plays a key role in improvement and implementation of various technological aspects. This report basically highlights the key prospects of the managerial implications of oil and Gas Company. The major highlight of the report is to significantly analyze the customer satisfaction factor by the implementation of customer process technology which enhances the organizational improvement. Moreover, the report will strategically evaluate major recommendation processes based on technology which will enable to improve and facilitate the operations of the organization dealing in the industrial sector of oil and gas.

Analysis of the Firm

Premier Oil plc is one of the independent oil and Gas Company based in United Kingdom which prolifically interests United Kingdom, Africa and Asia. The company has always been devoted to the upstream and downstream sector for the exploitation of gas and oil as mainly opposed by the mainly to the downstream refining as well as the retail sector. With the constituent of FTSE 250 Index Premier Oil Plc is listed in the Stock Exchange of London (Alhawari, 2012). In the year 1934 the company primarily started its trading with the basic goal of exploring and acquiring gas and oil production. Premier Oil plc faced some crucial downfalls during the recessional period of oil and gas. Premier Oil Plc faced huge complications in generating revenue and profitability. One of the key reasons was the significant downfall of the production unit and over production of oil and gas which led to critical recession over the ratio of demand and supply. This impacted negatively and therefore the company reduced their employees because of the saturation of capital fund (Armistead and Mapes, 2012). Apart from the aforementioned reason Premier Oil Plc also faced complications in the management aspect i.e. the company lacked the potential of strategic implementation and evaluating quality strategies with the effectiveness of revenue generation. The company faced huge complications in overcoming the problems and lacked the significant potential to create a prolific action plan. In this due course Premier Oil Plc also lost quality resources which could have improved the company’s business operations.

1. Customer Process Technologies

Analyzing and evaluating the current scenario of Premier Oil Plc it can be significantly said that the organization is facing huge drawbacks in terms of various strategic implementation procedures. Thus it is very important to evaluate the drawbacks and have significant measures that drive the customer processing. Being performing its business operations in one of the most competitive sectors Premier Oil Plc must significantly introduce technological up-gradation to boost the customer processing. Although the operations of customer processing were seen as a low technology aspect but currently the process technology has been evident in boosting major services of Premier Plc (Baker, 2014). Check in technology, service delivery etc. have boosted the business operations broadly. Thus, the human element of service has been reduced by the implementation of customer processing technology. There are two types of customer processing technology i.e. active interaction technology and passive interaction technology.

  • Active Interaction technology: This technology is used by the customers directly. This interaction customer process technology helps the customers themselves to create the service. In this aspect it is the role of the customer to create their own service.
  • Passive Interaction technology: In this technology the customers are guided by the significant controls and processes by constraining the actions in a distinctive way. This actually helps in reducing different type of the operations (Benadada, n.d.).

But analyzing the prospect of Premier Oil Plc the customer process technology has to be used in a different way. Interaction with technology via an intermediary is the most influential aspect that can enable Premier Plc to be benefitted by providing more quality service to its customers. The process technology to the customers through an intermediary is much more flexible in nature with the use of specialist knowledge. Dealing with the complex systems of the Oil and gas production an intermediary can act as a major process by which better deals can be obtained by Premier Plc. Through the implementation of Interaction with technology through intermediary can help the customers to guide or navigate the major processes (Blosch, 2011). The implementation of this process can act as a major catalyst to the business operations of the organization providing key prospects to the business operations and providing quality service. The implementation of the process may tend to vary with the benefits and constraints of the customer processing technological aspect. But the implementation can significantly provide a clear overview about the organization’s business operations. Firstly it will significantly allow the organization to facilitate the operations of the service provided. It will also help the organization by interfacing in between the technology functionality and the customer using staff as intermediaries (Editorial, 2016). It will act as a major benefit to the organization allowing much greater sophistication by analyzing the response of the customers along with the option of cost savings in various operations. Overall it can be analyzed that this process can significantly fix the current drawbacks Premier Oil Plc is going through. But, it is also important to analyze the constraints as the implemented technology will only benefit the staffs those are the intermediaries and the interaction with the customers can somewhat seem to be formulaic.

2. Recommendations on the aid of

  • Alternative Technologies: Automation is mostly considered as the key aspect for becoming competitive. But in major scenarios automation can also act as major drawback which creates inflexibility and also sometimes tend to slow down the market (Zanjirani Farahani, Rezapour and Kardar, 2011). Therefore it is important to opt for automation to improve the efficiency in the challenging economic times. Analyzing the prospect of Premier Plc it can be strategically analyzed that interaction with technology through intermediaries can be of good effect for vitalizing and enhancing the business operations of the organization by boosting the supply chain and labor costs (Garstone, 2015). But it is also important for Premier Plc to evaluate the process technology strategy by keeping various options of alternative technologies. Alternative technologies like the active interaction technology and passive interaction technology can also be helpful for the organization to boost its business operations following the strategic options of process technology. These alternative technologies can also provide quality agility and speed that is needed for the organization to drive the customer process. But it is quite important to choose the right approach while designing the implemented process which will actively boost the organization’s business process.
  • Long Term Strategic Capabilities: Strategic analysis plays a key role in business operations and implementation of the customer process technology plays a major role in evaluating the organization business operations. Premier Plc must also strategically evaluate and analyze the strategic capabilities of the organization for the long run. It is very important to have a long term strategic plan which will enable the organization to understand the necessary prospects of the business in the long run (Greasley, 2008). Long term strategic capabilities are the key to success and it provides a significant edge over the competitors in understanding the market structure and analyze the competition in the market. Premier Oil Plc basically deals with oil and gas and therefore while implementation of the new customer process technology it is important to frame a major business plan that will enable the organization to have prolific capabilities for the long run. This will boost the business operations of the organization and also help the organization to overcome the drawbacks in a more detailed way. Framing long term strategic capabilities will not only enhance business operations but also is a cost saving procedure for the future (Heizer and Render, 2011).
  • Cost of Change: It is one of the most important aspect that has to be critically analyzed while implementation of the new process and improve the business operations level (Wright, 2009). Cost of change must be critically analyzed mainly to identify the major implementation charges of the new process. Premier Oil Plc has to evaluate the positions and how expensive the implementation of the process may cost. It should be prolifically analyzed in the business plan about the cost of change. The cost of change is the amount that will be incurred for the implementation of the new customer interaction process (Heizer and Render, 2011). The costs of change can exponentially rising or even flattening depending on the implementation that is being carried out. In the case of Premier Oil Plc the cost of change will be on the rising part.

3. Recommendations on process technology implementation to facilitate operations of the company

The customer process technology is quite important evaluating the scenario of the operations of the organization. As already explained that Premier Oil Plc is seeking for improvement by implementation of the new customer interaction process it must be prolifically analyzed that it must be done in an effective way to boost and facilitate the operations of the company. In a situation of organizational change in process varied types of problems persist internally as well as externally (JULIEN, DOUTRIAUX and COUILLARD, 2009). In case of Premier Oil Plc the organization must prolifically outline a major business plan that would provide a clear overview about the entire condition of the organization as well as to outline the major needs of the organization. Secondly the implementation of the customer interaction processes also plays a critical role. The management must first initiate the major need of the process as well as outlining the fact about the major impact it will have on the organization (Kruger and Ramphal, 2009). As Premier Plc is an organization dealing with oil and gas, the company must provide quality service to the customers and the clients. Evaluating this aspect the customer process technology must be implemented. It will thus help to analyze the ideal need of the organization providing key concepts about the business operations of the country. The customer interaction process through intermediaries will enable the organization to value the essentialities of the clients and the customers providing them prolific service. Secondly it will also enable to analyze the market demand of the oil and gas, as it tends to fluctuate at a rapid cost. The implementation will allow the organization to act as per the demand of the market and also analyze the cost which will enable to them to figure out the major necessities to implement for improving and facilitating the business operations of the organization (Mat Tahar and Hussain, 2012).

Conclusion

The report based on analyzing and evaluating the business operations of Premier Oil Plc provides a clear overview about the need of the customer process technologies. This actually helps the organization to critically examine the customer preferences and also evaluate the business operations of the organization (Takhire and M.R, 2015). Customer process technology implementation in Premier Oil Plc can provide a significant boost to the business operations. Thus this report significantly evaluates the key prospects of the new technology implementation in improving and enhancing the business operations of the organization.

References

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Zanjirani Farahani, R., Rezapour, S. and Kardar, L. (2011). Logistics operations and management. London: Elsevier.

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