FIN 370 Week 3 Strategic Inititative Paper Final Draft

Strategic Initiative Paper Connie Addison, Christine Crocker Kimberly Guy, Felicia Lombard, and Shavelle Woods FIN 370 January 26, 2015 Shamelda Pete Strategic Initiative Paper ExxonMobil is identified as one of the world’s leading oil and gas businesses. It manages market commodities and means countrywide. ExxonMobil is entail in â€Å"marketing, gas, and oil exploration, transportation and production in roughly 200 nations† (ExxonMobil, 2015). This company furnishes assistance and products under label names such as â€Å"Mobil, Esso, and Exxon. ExxonMobil is known as one of the biggest oil industrial installation where a substance is refined in the nation† (ExxonMobil, 2015). This essay discusses ExxonMobil’s strategic initiative from†¦show more content†¦The downside to the plugs is that they have to be drilled out and removed before the well can be produced. These steps are time consuming and expensive. The XFrac will remove the need for these plugs, making it more cost efficient to complete the well than compare to the current industry standards. Ideally, this new technology will increase Exxon’s ability to produce more oil-equivalent barrels per day by 45 percent, meaning a higher return on shareholder equity and profitability (ExxonMobil, 2014, p. 19). Financial Planning Financial planning ensures that any great company operates successfully. ExxonMobil has put different measures in place for the financial means of the business by expanding across the country to increase product sales. Exxon has made it a point to focus more on expanding and creating jobs across the country. According to the 2013 summary annual report, â€Å"We look for opportunities to create jobs, build local supplier capacity, and make strategic community investments that will generate sustainable economic growth. This is good for communities and good for our business (2013).† ExxonMobil performed extremely well in 2013 with earnings of 32.6 billion, despite the conditions of the industry during that time. ExxonMobil takes advantage of every opportunity to financially plan for the future of the company. Exxon is preparing the business for future growth by investing in new