This website uses cookies to ensure you have the best experience. Learn more

Planning For The Future In Chevron Texaco.

944 words - 4 pages

ChevronTexaco's planning processes is a long and cumbersome one. Since ChevronTexaco is a multi-national, multi-faceted corporation; this paper will only discuss the planning processes for North American Retail Marketing. Often the planning process begins very early. For example, planning for this year, 2005; was conducted early in 2004, if not even started in 2003. Also, the process of planning has several levels, such as; long-term (10 year strategic plan), mid-term (5 year marketing plan), and short-term plans (fiscal 2005 capital deployment plan). Each planning process takes hundreds of man-hours to complete. This paper will evaluate the planning process and discuss several issues that relate to the process, such as ethics, legal, and corporate social responsibility.Planning ProcessAs stated above, there are a myriad of planning processes; this paper will discuss the short-term planning or for example, capital planning for fiscal year 2006. In order to have the capital budget in place by the start of the year, planning is already underway. Planning is defined as "the management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue in the future (Bateman and Snell, 2004). ChevronTexaco utilizes situational analysis and benchmarking to review up to five previous years as to the amount of capital spent on building new assets, capital spent on neutralizing old assets, and the capital spent on operating the existing assets. Also, ChevronTexaco will forecast their planned growth for next year and the years beyond. Those forecasted costs along with the projected costs of operating the existing assets and the cost associated in the retiring and attrition of the older, obsolete assets; are used to set a baseline, or a forecast, for the amount of monies needed to be requested from the executive committee for the proposed year. Then the plan is finalized and submitted for approval. Oftentimes, as with many corporations, the executive committee will send the proposal back for additional rework or to request additional cuts in some areas so the overall capital request is reduced. This back and forth process can occur several times before an agreement is reached as to a final amount. Once the plan is approved, it is cascaded down to the operational unit for deployment within their respective organizations. In addition, after the operational units receive their respective plans, they are tasked in developing contingency plans to offset any identified gaps or shortfalls in their corporate endowment.LegalChevronTexaco Legal plays an important role in the planning process. They are consulted regularly in order to make sure contractual obligations are followed and to test the legality of initiatives being proposed. Oftentimes in the planning process ChevronTexaco is discussing the deposition of retail outlets that could be affected if determined to be obsolete...

Find Another Essay On Planning for the Future in ChevronTexaco.

Strategic Planning for Ribena, a Company in The United Kindom

2568 words - 10 pages Overview Firstly internal environment, general environment and industry environment analysis are addressed followed by the identification of problems Ribena faced and suggestions on ways it could have handled the situation to avoid legal and reputational damage. GSK is the parent company of Ribena, it's head quartered in the United Kingdom (GSK,2004). In 2003 Ribena in the UK faced public embarrassment and legal charges for its for Ribena

plans for the future Essay

1134 words - 5 pages “ What are my plans for the future?”. This question is often popping up in my mind and frequently asked by my elders. As my Junior year in high school is starting to fade away and my senior year is soon to come, this question never seem to dim away. I’ve asked myself this and I have come up two ideal plans such as joining the military, volunteering for a program to go abroad to help the less fortunate, traveling and seeing the world and finding

Caring For The Future

610 words - 2 pages Caring for the futureFor those who care about my future, and even for the ones who don't: we cannot keep on doing what we normally do as we live our normal lives. Our world is slowly fading away, or in the future, completely gone. Think about the consequences of the life of our children, the children of your children and the people of my future. How are we going to sustain everything we have done today to all the future generations? Who do we

Homeschool for the Future

875 words - 4 pages system giving today's children all these things they need to succeed and become the future of our country? Because the public school system is failing today's children in so many ways, parents must take up the banner and fight for our future by homeschooling their children.Many schools in America have become unsafe. After a number of school shootings or incidents of violence, many schools in large cities have metal detectors at the doors and security

Science For the Future

1327 words - 5 pages Court continuously ruled that being persecuted for teaching evolution in schools violated the first amendment and that teaching creationism was unconstitutional because of the separation of church and state, some people in the public continue to fight against evolution being taught. She states that “concern should remain regarding future attacks against teaching evolution in public schools” and that “The Supreme Court now has a different composition

Economists for the Future

791 words - 4 pages It seems that everybody is worried about their financial situation and the economy. Unfortunately, few people really understand the power of the dollar. Unlike the average American, Economists have a real understanding when it comes to money. Economists study how people spend money for private companies and how to improve the economy for the government. I have always been interested in traveling and how people spend money globally, and

Energy for the Future

1493 words - 6 pages Energy for the Future Energy is often considered to be the world’s most valuable resource. With its vast amount of uses, it is essentially the backbone to the modern world and technology. For many years, the U.S. and other countries around the world have been relying heavily on fossil fuels to meet their energy needs. This dependence has led to a lot of problems not only environmentally but also politically and economically. By using imported

Fuels for the Future

1472 words - 6 pages sources for our future. Alternative fuels are substantially non-petroleum and yield energy security and environmental benefits. The move towards alternative fuels is intended to reduce dependence on petroleum, diversify transportation fuel supply, and improve air quality. Changes in alternative fuels will improve fuel efficiency and reduce emissions. Adjustable compression, direct fuel injection, lighter but stronger materials, and electronic

Preparing for the Future

577 words - 2 pages The world runs on energy. Without energy society as a whole would be lost; thus it is important to conserve energy today in order to prepare for a better tomorrow. By saving energy there is a lower demand for non renewable resources such as coal, oil, and natural gas. The less fossil fuels that are burned, the lower emission of carbon dioxide is release into the atmosphere which contributes to global warming. Many people believe that in order to

Planning in the UK

1161 words - 5 pages quality of life, without compromising the quality of life of future generations.(Department for Environment [undated]) Since the late 1990s sustainable development has been a stated aim of government. Then “Planning Policy Guidance Note (PPG 12), legitimised the role of land-use planning in sustainable development”(Batty et al. 2001). To achieve the aims of sustainable development a new style of planning was adopted. “A spatial planning approach

Planning Ethically (planning in the business)

1192 words - 5 pages something: a way of carrying out a design and planning is to devise procedures or regulations for in accordance with a comprehensive plan for achieving a given objective. Providing a definition for, and identifying planning, is the easy part, the hard part comes from the actual process of planning. Amazingly, in just about everything we do, business or personal, there is a degree of planning required to get anything done; there is a plan for planning

Similar Essays

Strategic Planning For Walmart. The Past, Present And Future

4246 words - 17 pages . will be connected over internet. Some of these are already connected to internet. However, the point is in future people will use these devices extensively for not only for information but also for purchasing. Sustainability meaning environment. Products which are environment friendly will be accepted by government and consumers both. Stores needs to be environmental friendly as well. Growing middle class population in developing

Personal Finance A Couple Is Planning For Their Future, In The Event Of Death Or Loss Of Employment

1531 words - 6 pages PAGE PAGE 6 Unit 3 IP Unit 3 Individual ProjectPersonal Finance ConceptsChristopher StanglewiczMay 17, 2007Tom and Sue Wright are planning for their family's future. In the event that one of them would die, they would like the survivors to be able to comfortably maintain their current lifestyle. The planning they complete now will save the remaining family members from undue financial hardship. This process may seem daunting, but taking it

Aspirations For Peace In The Future

531 words - 2 pages must understand that in order for America to recover and survive others need not experience downfall. There is a great hatred towards Arabs and Muslims being felt throughout America at this point in time. We must remember the very famous parable that we were all taught as children: "two wrongs do not make a right." By retaliating, one only provokes more anger and leaves more hearts torn and spirits to weep. One must realize that the sorrow

The Effectiveness Of Scenario Planning In Determining The Future Strategies (A Study On Hospitality Industry)

2548 words - 10 pages School of Sport, Performing Arts and Leisure LI4000 (Strategic Applications) “An Essay on the Effectiveness of Scenario Planning in Hospitality Industry for Determining Future Strategies” THE EFFECTIVENESS OF SCENARIO PLANNING IN DETERMINING THE FUTURE STRATEGIES (A STUDY ON HOSPITALITY INDUSTRY) Scenario planning is a practice of predicting many, reasonable and uncertain futures (Hiejden et al., 2002).Scenario planning, which