Abraxas Petroleum Corporation
Background of Abraxas Petroleum Corporation
Abraxas Petroleum Corporation is a U.S based organization situated in San Antonio, Texas and deals with natural gas and crude oil exploration and production. Citing from the fact that Abraxas Petroleum Corporation is an exploration and production company, it operates in other outlets located within U.S boundaries and Canada which makes it an international organization. For the processing plants that the company owns in Canada, it only controls 49% of their ownership. Writers who offer operations management assignment help at Edudorm essay writing service notes that therefore, with this kind of ownership, the company is able to access sufficient workforce together with cost efficient technology and work input. The company also operates in other places such as Permian basin, regions of Gulf Coast and the Rocky Mountain (Simkins et al, 2013, p.203). However, citing from the direction of the company, it is exhibited that Abraxas has recently been underperforming in the stock market where it lost about 40% of the market share due to the dramatic fall of the oil prices incurred in 2015.
Source of Data about Abraxas Petroleum Corporation
The analysis strategy that I used to search and analyze the relevant data regarding Abraxas Petroleum Corporation was exploratory data analysis. I collected data for the company from sources such as financial reports, company’s website, peer reviewed articles, scholarly journals, and text books that correlated with the research topic. After collecting data from different sources, I compiled and summarized it to make main points that would show the strategic direction of the company. For every source selected, I used descriptive data analysis to summarize the sample of data collected in order to connect it to the research topic and derive the direction of the company from its performance. Therefore, some of the techniques used in tracking the changes in the company were run charts, histograms, ratios, plots and scales.
Organizational Strategy and Management Structure of Abraxas Petroleum Corporation
Therefore, areas of analysis that I considered in order to determine the strategic direction of the company included organizational strategy and management structure of the company. The criterion for choosing these areas of concern was based on the fact that the major weakness of the company was based on its organizational strategy and the management structure. Experts who offer corporate strategy assignment help at Edudorm essay writing service indicates that citing from the problem that faced the company, the management could preferably use its business strategy together with the management structure in order to regain their market share and position. Therefore, the data that I collected regarded the organizational strategies implemented by the company both at the corporate and business level in order to regain their market share and competitive advantage. I analyzed different strategic tools that were endorsed by Abraxas Petroleum Corporation such as market segmentation and innovation. Additionally, I assessed the management structure of the company and how it helped the company achieve the organizational goals. Therefore, I focused on analyzing how the company’s management conducted decision making and how different executive members performed their tasks.
As aforementioned, the Abraxas Petroleum Corporation is strategic implementation and management structure to achieve its organizational goals. Precisely, the company has focused on two internal features that is the environment to be built and the attitude of approaching work (Simkins et al, 2013, p.209). Additionally, the company has been focusing on the market they serve in order to mark the start point of their strategies. Authors who offer business development assignment help at Edudorm essay writing service points that still under the organizational strategies, Abraxas has been making sure that it has complied with the existing laws in order to lift its ethical standards. On the other hand, n order to maintain its competitive advantage, Abraxas has been designing and delivering technological solutions of risk mitigation to their target market in United States. Abraxas Petroleum Corporationhas been making other ventures such as data warehousing, system design and development, content management and information security (Simkins et al, 2013, p.207). Under the management structure, the company has been adhering to effective decision making through its corporate management members. The company’s interests have been well represented in order to promote successful business performance.
Conclusion and Recommendations
Regardless of the fact that Abraxas Petroleum Corporation has been successful since its foundation data back in 1977, it recently trembled due to the drastic fall of the oil prices back in 2015. The company lost approximately 40% of its market share which called for strategic implementation and innovation. In order to regain the competitive advantage, the company has been extending their product line where it has been offering extended services such as data warehousing, system design and development, content management and information security. Additionally, the company has been making sure that business ethics compliance with the laws is observed. Under the management structure, the company has adopted strategic corporate policies which are executed to the organizational structure of the company to make sure that demands and interests of the company are suited for. Therefore, one of the recommendations that I can make for Abraxas Petroleum Corporation is to benchmark the systems of operation adopted by major competitors in order to make effective implementations. The other recommendation is to set new goals and objectives which will act as a new start point for the company as it makes strategic plans to regain the competitive advantage.
References
Simkins, Betty, and Simkins, Russell. Robert W. Kolb Series: Energy Finance and Economics: Analysis and Valuation, Risk Management, and the Future of Energy (1). Somerset, US: Wiley, 2013. ProQuest ebrary. Web. 5 April 2016.Copyright © 2013. Wiley. All rights reserved. Simkins,
