Strategy, structure and market turbulence: The international oil majors, 1970-1991

Robert M. Grant and Renato Cibin

Scandinavian Journal of Management, 1996, vol. 12, issue 2, 165-188

Abstract: The oil shocks of 1974 and 1979/80 transformed the business environment of the oil industry from one of stability to one of turbulence. As a result, the international oil majors were forced to reformulate their strategies and redesign their organizational structures and management systems. This study provides an indepth examination of strategic and structural change among eight of the world's ten largest oil companies during the period 1970-1991. The paper focuses upon the quest of the companies to reconfigure their organizations in order to reconcile flexibility and responsiveness with the integration required to exploit the resource advantages of giant corporations.

Keywords: Oil; industry; strategy; restructuring; organizational; change (search for similar items in EconPapers)
Date: 1996
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