What were the managerial innovations of Standard Oil?
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What were the managerial innovations of Standard Oil?
Started by Murphy, Sep 07 2005 08:16 PM
1 reply to this topic
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Posted 29 July 2008 - 11:38 AM
Standard Oil actually used many managerial techniques to gain its primary position, which it held for really only a short period of time, others soon catching and then passing the leader. By spending alot on R &D, rebates strategies, mergers and then re-employing many of the cut-out mangers and CEOs as well as hiring the best staff from absorbed corporations. Standard also built its own pipelines, owned its own tanker cars, used smart entrepreneurial skills in crude purchasing and great accounting methods. But again, these merely gave Standard a short advantages, and by not adjusting to later gas refining lost its market control. Customers wanted more natural gas, refines gasoline, and less kerosene.
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