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首页> 外文OA文献 >Corporate strategy in forward integration of an oil company. A study of the implications of an oil company's diversification into the petrochemical business and the design of appropriate corporate strategies for its achievement.
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Corporate strategy in forward integration of an oil company. A study of the implications of an oil company's diversification into the petrochemical business and the design of appropriate corporate strategies for its achievement.

机译：石油公司向前整合的企业战略。研究石油公司多元化经营对石化业务的影响，并设计实现其成就的适当公司策略。

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摘要

The aim of this thesis is to explore the diversificationudof a major oil company into the. petrochemical business andudthen through thorough analysis to recommend the appropriateudcorporate strategies to be followed by the petrochemical subsidiaryudof such a company in the 1980's and the 1990's.udThe petrochemical industry has undergone great changesudduring the last decade. In the early 1970's it entered a newudera of maturity, however due to the misplannings of the lateud1960's extending to the early 1970's the industry was suddenlyudfaced with significant overcapacity which has persisted to theudpresent date and is expected to last well into the 1980's. Theud1974 oil crisis caused a further decline in the growth of demand,udhence exacerbating the situation.udDuring the seventies the industry has had to operate underudincreasing material prices, unlike the past, which when coupledudwith the problem of overcapacity and the resulting deteriorationudof prices, has caused considerable decline in the financialudability of the companies to finance their capital expenditureudprogrammes through internal cash generation (which was the caseudin the industry's 'golden era'). This situation is threateningudthe long term viability and survival of the petrochemicaludbusinesses.udA System Dynamics model for a hypothetical petrochemicaludsubsidiary of a major oil company has been constructed whichudembodies all the policies inherent in such a system. Theuddynamic behaviour of the model closely resembles that expectedudfrom the real system such as the declining financial ability,udwhich is mostly due to the inflationary conditions.udThrough thorough analysis, the impact of varying inflationudlevel on the performance of the system was explored, andudthe need for adopting suitable accounting policies which wouldudtake account of the replacement costs of assets, during periodsudof high inflation, was proposed.udThe adoption of a number of policies led to a certainuddegree of improvement in the financial performance of the system,udand these are recommended concerning the corporate strategy ofudthe company for the next two decades.udFinally it was discovered that due to the low level ofudgrowth of demand (compared to the past), the large economic sizesudof the petrochemical plants and the market share consensus, theudcompanies will have to go into joint ventures in the future.
机译：本文的目的是探索一家大型石油公司的多元化经营。石化业务，然后通过透彻的分析来推荐适当的公司战略，以供1980年代和1990年代这样一家公司的石化子公司遵循。ud在过去的十年中，石化行业发生了巨大的变化。在1970年代初期，它进入了一个新的 udera成熟期，但是，由于 ud1960年代后期到1970年代初的错误计划，该行业突然出现了严重的产能过剩，这种产能持续到了 uddate并预计将持续。进入1980年代。 1974年的石油危机导致需求增长进一步下降，使情况进一步恶化。在20世纪70年代，该行业不得不在原材料价格不断上涨的情况下运作，与过去不同的是，过去这种情况再加上产能过剩的问题价格的恶化 udud导致公司通过内部现金产生为资本支出 ud方案筹集资金的财务能力大大下降（在行业的“黄金时代”就是这种情况）。这种情况正在威胁石化 udbusinesss的长期生存能力和生存。 ud已为大型石油公司的假设石化 ud subsidiary建立了系统动力学模型，该模型体现了该系统固有的所有政策。模型的 uddynamic行为与真实系统的预期 ud类似，例如财务能力下降 ud，这主要是由于通货膨胀状况。 ud通过全面分析，变化的通货膨胀 udlevel对金融系统性能的影响对该系统进行了探索，并提出了 ud提出了采用适当的会计政策 ud应对高通货膨胀时期 ud的资产重置成本的需求。 ud采用多项政策导致了一定的 ud程度 ud，并建议将其用于未来20年的公司战略。 ud最后发现，由于需求的 udgrowth水平较低（与过去相比） ，石化厂的经济规模庞大和市场份额的共识，未来这些公司将不得不合资。

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    Ansari-Sereshki Rokneddin;

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