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Company Overview Of Sinopec Corp. Essay

3454 words - 14 pages

Company Overview of Sinopec Corp.

Focusing on its core business of petroleum and petrochemicals, China
Petroleum and Chemical Corporation (Sinopec Corp.) is a publicly
listed company with integrated upstream and downstream operations and
a complete marketing network. The company was set up on February 28,
2000, pursuant to the [Company Law of the People's Republic of China]
and in line with the principle of 'separation of core business from
the ancillary, good assets from the bad, and enterprise functions from
the social', by China Petrochemical Corporation (Sinopec Group) as the
sole sponsor, after the restructuring of its businesses, assets, debts
and creditor's rights, organization and personnel. Following
international models, the company has set up a new, standardized
structure of corporate governance, with centralized decision-making,
delegated authorities in management, and business operations handled
by specialized business units. Sinopec Corp. has more than 70
subsidiaries, either wholly owned, or with equity participation,
including majority controlled, in exploration and production,
refining, chemicals, marketing, research and foreign trade. Most of
the Company's assets and principal market is situated along China's
most developed eastern, southern and central areas. Sinopec Corp.
sticks to the philosophy of open and competition, the business
strategy of expanding resources and market, cutting cost and improving
profitability, as well as exercising prudent investment. To maximize
profits and deliver superior shareholder return is the Company's
guiding objective and the operating mechanism is market-oriented
externally, achieving synergy internally and the operating principle
is standardization, discipline and integrity. The company¡¯s target is
to build Sinopec Corp. into an internationally competitive,
world-class, integrated Energy Company with prominent core business,
quality assets, innovative technologies, advanced management and sound
financial practice

2. Management Concept and its Basic Characteristic

Management had it since old times. Since long ago, the people realize
in the unceasing practice to the management importance. Since this
century management movement and the management upsurge have yielded
the amazing result, one of them has formed the more complete
management theory system. But to the management meaning, from the
different angle and the background, may have the different
understanding. One kind the viewpoint which generally accepts was
believed that, the management is a process, is lets the others the
goal which realizes together with own decides, is all organized
collective activity essential essential factors.

Management basic characteristic

(1) manages is one kind of cultural phenomenon and the social
phenomenon. This kind of...

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