Valero Energy is known for its commitment to excellence, challenging work environment and commitment to community. The company has a policy of using state-of-the-art technology to provide cleaner-burning gasoline.
The company manages its innovation process by focusing on alternative energy and latest technologies. It has invested in wind farms outside its McKee Refinery in the Texas Panhandle. The innovation process gets tremendous boost through such investments as energy is generated without environmental concerns.
The 3 examples of product innovation are: investments in new infra-red technology to quickly find and repair leaks of gaseous hydrocarbons, investments in new flare-gas recovery systems which is an emission-reducing technology and meeting the challenge of greenhouse gas reduction through scientific, economic, and technological analyses. Product innovation consists of either improving the present product or acquiring technologies for environment-friendly alternative energies (Valero Energy Corporation).
Critically evaluate whether Valero Energy is a learning organization. In your answer discuss 3 examples of how the company’s leadership structure has affected the degree of learning that occurs within the company
The Board of directors of Valero Energy consists of men and women of substantial experience and qualify for a learning environment in the company. As qualified and experienced members, they are in a position to foster a learning environment in the company to encourage innovation and growth.
Thus, the company’s leadership has succeeded in establishing an attitude for competitive and healthy growth with a socio-economic thrust that balances social needs with economic advantages.
The company ranks number one on Fortune magazine’s listing of the nation’s Best Big companies to work for two consecutive years. It also ranks number five among petroleum refining companies on Fortune magazine’s listing of America’s most admired companies. It is also ranked at number seven on Fortune’s magazines listing of most admired companies worldwide. Besides these, the company has secured many other environmental and safety awards.
Such accolades on a continuous basis every year bespeak the company’s enlightened leadership in learning. The company is also involved in philanthropic activities and generously donates for volunteer activities and educational support programs. Needless to add, these recognitions can only mean that the culture of learning in the company is sufficiently high to merit them (Valero Energy Corporation).
Critically evaluate the competitive dynamics of the industry Valero Energy is in. Provide 3 examples in your answer of how Valero Energy can utilize an entrepreneurial strategy to compete more effectively globally
The petroleum industry is a fast evolving industry because of environmental issues. On the one hand, petroleum is required for transportation, power and a host of other economies. On the other hand, the use of petroleum has to be minimal because of its greenhouse gas emission that makes it important to adhere to technologies that reduce air pollution.
The company has bolstered its image and revenues through social commitments and growing national network of distributors. Gasoline is a product of universal demand. The only way to grow in the gasoline industry is through achieving technological breakthroughs to address environmental