Strategies for managing uncertainty : booms and busts in the energy industry / Alfred A. Marcus, University of Minnesota.

Format:

Book

Author/Creator:

Marcus, Alfred A. (Alfred Allen), 1950- author.

Series:

Organizations and the natural environment

Language:

English

Subjects (All):

Petroleum industry and trade--Risk management.

Petroleum industry and trade.

Motor vehicle industry--Risk management.

Motor vehicle industry.

Uncertainty.

Risk management.

Physical Description:

xiii, 551 pages : illustrations ; 24 cm.

Place of Publication:

Cambridge, United Kingdom ; New York, NY, USA : Cambridge University Press, 2019.

Summary:

"All organizations must cope with future uncertainties. These uncertainties affect the strategic choices they make. They must commit scarce organizational resources to future outcomes which they have little assurance will come into being. Marcus explores how decision makers in the energy industry made choices in the face of such uncertainties, specifically examining two major uncertainties they confronted in the 2012-18 period - price volatility and climate change. Marcus tells the story of how different companies in the integrated oil and natural gas sector and in the motor vehicle sector responded to these uncertainties. In the face of these challenges, companies in the energy industry hedged their bets by staking out paradoxical or contrasting positions. On the one hand, they focused on capturing as much gain as they could from the world's current dependence on fossil fuels and on the other hand they made preparations for a future in which fossil fuels might not be the world's dominant energy source"-- Provided by publisher.

Contents:

Introduction: calculated wagers and hedging

Part I. The problem. Risk and uncertainty in the energy industry

The management of risk and uncertainty

Hedging in the energy industry

Booms and busts in the energy industry

Part II. Challenges in major sectors. The oil and natural gas sector

The motor vehicle sector

The electric utility sector

Part III. Oil and batural gas company strategies. Strategies to try to offset plummeting prices: ExxonMobil

Strategies to try to offset plummeting prices: BP

Strategies to try to offset plummeting prices: Shell

Strategies to try to offset plummeting prices: TOTAL

Part IV. Motor behicle company strategies. Strategies to take advantage of plummeting prices: GM

Strategies to take advantage of plummeting prices: Ford

Strategies to take advantage of plummeting prices: VW

Strategies to take advantage of plummeting prices: Toyota

Part V. Conclusion. Oil and gas companies strategic moves 2017-2018

Motor vehicles companies strategic moves 2017-2018

. Ambivalence, paradox, and hedging.

Notes:

Includes bibliographical references (pages 525-531) and index.

ISBN:

9781107191150

1107191157

9781316641682

1316641686

OCLC:

1090440191