Read the following Article and address the questions: 1. Why do most firms feel they have to promise growth? Why did oil companies tend to promise future growth in the past?2. What has changed? Why are oil firms now proposing to shrink?3. For how long can a firm's management survive on a programmed course of shrinkage? In the long term, isn't the promise of growth the precondition of sound management and strategy?11/7/2014
Big Oil Feels the Need to Get Smaller - WSJ - WSJ
As crude prices tumble, big oil companies are confronting what once would have been
heresy: They need to shrink.
Even before U.S. oil prices began their summer drop toward $80 a barrel, the three
biggest Western oil companies had lower profit margins than a decade ago, when they
sold oil and gas for half the price, according to a Wall Street Journal analysis.
Despite collectively earning $18.9 billion in the third quarter, the three companies—
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Big Oil Feels the Need to Get Smaller
Exxon, Shell, Chevron Pare Back as Rising Production Costs Squeeze Earnings
Extracting oil from Western Canada’s oil
sands, such as at this Shell facility near Fort
McMurray, Alberta, is a particularly
Nov. 2, 2014 7:08 p.m. ET
in Houston and
This question was answered on: May 23, 2022
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