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POG303 Strategic Management

tag 0 Download 12 Pages / 2,945 Words tag 07-07-2021


Laffey Oil Resources Plc (LOR) has a newly appointed female CEO.  LOR like many in the sector faces challenging times due to the oil price of drop 2014-present day. This is going to be a tough transition period for the firm as the new CEO takes over.  

The employees are naturally uncertain about the situation and what this new vision and strategy will mean for them and their job security. However, the shareholders and the market appear happy with the result so far as the shares have climbed significantly on the Stockmarket. There has been a lot of media interest in the new leadership especially as the previous CEO, who was in power for seventeen years, was a well-recognised and respected face in the media.

The new CEO has a no nonsense reputation for tough talking and always for getting results no matter what the cost.  This is evidenced by an impressive, if often controversial, track record as Chief Financial Officer (CFO) in the another major oil firm Mayo Oil before becoming CEO of LOR. That firm underwent a severe cost cutting strategy which led to major job cuts amid a lot of negative publicity for that particular firm.  Mayo Oil did increase profits but like most firms it is again facing difficulty. There were reports in the media that a short term approach had been taken regarding strategy and workforce planning issues at the cost of the long term future of Mayo Oil.

LOR’s new CEO has clear views on what changes need to happen and she intends these to happen as quickly as possible. The new CEO was given the nickname “the woman with a plan” after a high level email was anonymously leaked prior to her being announced as CEO.  In the email she criticised the previous CEO’s projects.

The proposed new strategy includes –

  • Cost efficiencies– job cuts although as yet unclear how many but definitely in the 1,000’s. These series of job cuts will impact on every level of employee from senior executive down through the ranks.
  • Restructuring of the Divisions and Units within the firm – this will be done in regions such as North America and Europe.
  • There has also been talk about a future acquisition deal with a Texan shale gas operator based in San Antonio which would hopefully re-position the firm to be more competitive in relation to its rivals when the oil price recovers. The CEO has long had an interest and investments in Shale Gas, she is also a close business friend of Lord John Browne (Caudrilla and ex BP CEO) and believes that despite the downturn that Shale is where future profits are to be found. 
  • Highlight the challenges that the new CEO of LOR Plc is likely going to face in implementing her new strategy.
  • Discuss the possible reactions from employees on this newly proposed changes to LOR Plc.
  • Using McKinsey 7S framework, identify and discuss the following:
  • How the change affects each element within the 7S framework.
  • Potential challenges/issues  to be faced within the implementation process
  • Recommendations for managing the change process and overcoming challenges/issues identified.
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