The paper "How Petrofac Is Able to Secure Its Competitive Position in the Industry " is an outstanding example of coursework on business. The oilfield service sector is highly competitive. To maintain a superior position in the industry, Petrofac must critically analyze the external and internal environmental conditions and accordingly develop suitable plans of action. To meet the challenges of a competitive industry, organizations must satisfy customer needs in the fastest and using the most convenient means. Therefore, it becomes essential to develop plans of action that prevent wastage of resources, reduce the cost of activities, and effectively meet the sustainability objectives.
In the current paper, critical evaluation is done in respect of the firm's strategic position and policies in respect of the environmental conditions. The paper analyses how Petrofac can secure its competitive position in the industry and the internal organizational competencies that facilitate meeting the overall objectives. Petrofac is one of the largest firms operating in the oilfield service industry and is renowned for delivering integrated solutions to the energy sector. The firm delivers engineering, construction, and consulting services most efficiently.
The organization follows a strict approach towards meeting the needs of clients. Since the energy sector is highly competitive, the firm must ensure that its technologies and resources are highly competent and suitable for the energy sector's needs (Lightbody, 2000). Hence, Petrofac uses much effort and management to strategically align the firm's goals with that of the clients. Therefore, the company has developed its internal organizational culture and operations in a manner such that they remain flexible to the external environment changes and the expectations and goals of the client firms.
All the resources, technologies, and human efforts are integrated so that there is no wastage of resources and activities can be completed on time. On the basis of the environmental analysis conducted in the previous management report, it can be stated that the overall position of Petrofac in the oilfield services industry is highly competitive.
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