Strategic implication of the change, from a Korean oil co.'s standpoint

Abstract

Even though oil industry have been dramatically experiencing the changes such as Super-Merger, deregulation, and liberalization, almost all players share the similar strategies that tend to converge along the same basic dimensions of competitive option. That is Best product strategic position by means of low cost and differentiation to secure market share. The strategic implication of the change with convergence could be a wake-up call to the Oil Company, which gives opportunity for their further sustainable superior future growth. In order to make full use of these implications, we need more significant innovation on top of conventional wisdom. The Company should adopt Total Customer Solution as their new strategic position in real terms. Toward new business model, they must also bear in mind the crux of strategy, that is strategy is not a vague slogan but a task for all from the top to bottom.