The University of Arizona Global Campus
BUS 402: Strategic Management & Business Policy
February 13, 2023
ExxonMobil Mission Statement
The mission statement of ExxonMobil provides the company with an overarching vision of the purpose and goals of the company. It states that the company is "committed to being the world's premier petroleum and petrochemical company" and that it works to "improve standards of living" by providing "energy that is reliable, efficient, and affordable." This statement serves as a guide for the company's activities and strategies. For instance, ExxonMobil has developed various strategies to become more efficient and reliable in its energy production and distribution (Mirzayev,2022). It includes investing in new technologies, improving safety protocols, and increasing the company's production capacity. These strategies align with the mission statement's goal of providing reliable, efficient, affordable energy. ExxonMobil also works to improve living standards worldwide by investing in communities and engaging in philanthropic activities. It includes providing grants to organizations that help promote education, health, and economic growth. These activities are guided by the mission statement's goal of improving living standards.
ExxonMobil's mission statement is to be the world's premier company in the petroleum and petrochemical industry. The company focuses on operating responsibly to achieve its premier global status. This mission statement addresses the four questions in the Hull article by effectively summarizing the company's core values. These values focus on providing reliable energy sources while also considering the environmental and social impacts of the company's operations. The statement emphasizes economic growth, a critical factor driving the company's success. The statement also recognizes the importance of social development and environmental considerations, indicating a commitment to responsible practices that benefit both people and the planet. The mission statement reflects ExxonMobil's commitment to innovation and sustainability (Singh & Misra,2022). By focusing on responsibly delivering energy, the company is signaling its dedication to developing new technologies and practices that are more efficient and sustainable than those used in the past. This commitment is evidenced by the company's commitment to investing in renewable energy sources and actively participating in research on new energy sources.
ExxonMobil receives a 4-star rating based on its mission statement. Their mission statement emphasizes their commitment to safely and responsibly providing energy to the world safely and responsibly. They have a strong focus on innovation and sustainability, demonstrating their commitment to reducing emissions and increasing the use of renewable energy. They also emphasize their commitment to their customers and shareholders, ensuring their operations align with their values and beliefs. Overall, ExxonMobil's strong mission statement reflects its dedication to providing energy while respecting the environment and its stakeholders, which justifies a 4-star rating.
Mirzayev, N. (2022). Corporate Social Responsibility In The Oil And Gas Industry. Network Intelligence Studies, (20), pp. 101–109.
Singh, K., & Misra, M. (2022). The evolving path of CSR: toward business and society relationship. Journal of Economic and Administrative Sciences, 38(2), 304-332.