Corporate Value Awareness in Oil and Gas Sector

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Table of Contents

Introduction
Safety First
Customer Centricity
Excellence
Innovation
Teamwork
Ownership
Integrity
Conclusion
References

Introduction

Company value awareness is crucial for all employees since it provides a framework for the decision-making process. If a person knows corporate values, he or she can understand if a decision is appropriate by merely asking the question, “do my actions reflect company values?” Moreover, acknowledgment of corporate values is associated with improved employee communication, motivation, and engagement (Smarp, 2019). Company values are also vital for attracting and retaining customers and talents (Smarp, 2019). Our company signifies the importance of safety, customer centricity, excellence, innovation, teamwork, ownership, and integrity.

Safety First

The oil and gas sector is one of the most hazardous in the world. Despite the safety procedures, the fatality rate in the industry is seven times higher than in any other sector (Smith, 2018). The biggest threats to gas company workers are associated with human error, worker culture, recklessness, negligence, lack of personal protective equipment, miscommunication, and misuse of equipment (Smith, 2018). The top five hazardous events include transportation, contact injuries, fires and explosions, exposure to harmful environments, and falls (Smith, 2018). Therefore, maintaining a corporate culture that adheres to the highest safety standards is of increased importance.

Customer Centricity

The oil and gas industry relies on strong connections between companies and their customers. In the digital age, our clients expect more than just exclusive product formula or a slightly better price. Today, clients have high expectations of digital natives, a desire for omnichannel consistency, and a preference for self-service journeys (Dworak, 2018). Therefore, all the employees in our company are expected to think about the customers’ needs, identify strategies for improving customer experience, and adapt the approach according to the needs of every customer. In summary, our company aims at providing customers with a smooth, seamless, and satisfying experience of working with us.

Excellence

Excellence in our company means outperforming ourselves in every matter and foreseeing the possible improvements of our ways. Excellence in every manner leads to the cost-efficiency and satisfaction of our customers and employees. Excellence can be achieved by developing a high-performing culture through training, improve collaboration with oilfield services to improve logistics, and creating networks of excellence that enable knowledge transfer (Wyatt, 2018). The employees are expected to evaluate their performance in order to adhere to high-quality standards. The concept of excellence is closely connected to customer-centricity since it is one of the most evident advantages of our company.

Innovation

Innovation is closely connected to excellence since the best methods are usually the most recent ones. Our company looks for improvements in every aspect of corporate life, starting from human resource management and ending in the methods of gas production. Innovation is possible only when employees are in a consistent cycle of planning, executing, evaluating, adjusting, and iterating new strategies. The company wants every employee regardless of his role and position to become a change agent. Innovation is a continuous process that does not have a beginning or an end; therefore, all the employees are expected to learn every day.

Teamwork

Since any job in the modern world is associated with constant communication with other employees, team-working skills are of increased importance. Success in any aspect of a business depends on the effective use of team members’ diverse skills. Teamwork motivates unity in the workplace, offers differing perspectives and feedback, provides improved efficiency and productivity, gives excellent learning opportunities, and promotes workplace synergy (Wehbe, 2017). Additionally, teamwork leads to positive interpersonal relationships, which is crucial for sustaining employee satisfaction. Furthermore, cooperation is associated with innovation, excellence, and improved safety in the workplace.

Ownership

Every employee is expected to be accountable for his or her actions. In our company, everyone should take full responsibility for the results of their work and promise always to do the right things. The company takes full responsibility for the social and environmental impacts of its performance and commits to employing the best strategies for reducing the adverse effects and increasing positive influence on all the spheres.

Integrity

All the values of our company are expected to be shared by all the employees. The relationships should be built based on trust, fair dealings, respect for others, and long-term orientation. All the employees on all levels are expected to give and keep promises and stand against misconduct. However, the most important thing is that everyone is expected to be truthful to themselves. The truth is to be acknowledged even if it is not pleasant, because according to Alec Mackenzie, “Errant assumptions lie at the root of every failure” (Tracy, 2016, para. 15). At the same time, everyone is to distinguish between confidence and arrogance and remember that he or she may be wrong. In short, integrity is the key to the success of everyone working in our company.

Conclusion

Corporate values are essential for all the employees since they formulate an explicit framework for distinguishing right from wrong. Every decision is to be evaluated to stay in line with the seven identified principles. Everyone is welcome to consult their managers or peers to help them understand these values.