Business Operations Of Ongc Ovl Commerce Essay

The aims of our survey are multi tined. In this dynamic universe of concern where companies are no longer local participants but are planetary entities we plan to demo how an Indian company has made the right moves and carved out a niche for itself. We besides intend to demo what factors fuel a companies growing while what are the barriers to success. In short the aims of our undertaking can be stated down as follows:

( 1 ) To analyze the assorted concern procedures of the Indian MNC and to see how the procedures at place are different from procedures abroad.

( 2 ) To analyze the enlargement of its market district beyond the boundaries of the state due to its international image.

( 3 ) To analyze what all adjustments the company has to do when it moves abroad.

( 4 ) To analyze the assorted environmental differences like cultural, legal and political between place and foreign state.

( 5 ) To analyze the assorted advantages that the company is deriving as a consequence of its operations abroad.

Scope OF STUDY

Our survey will fundamentally concentrate on analyzing an Indian company which has made a raid into the international markets late and is emerging as a planetary MNC. The undertaking would concentrate on the assorted schemes that the company is following to derive a competitory advantage in the foreign state and what all jobs the company in confronting in the foreign state and how these jobs can be overcome and to analyze the company ‘s transnational cardinal direction.

METHODOLOGY OF STUDY

The methodological analysis that we would be following would include:

( 1 ) Roll uping information about the company from assorted resources like company ‘s web site, books, diaries, databases and from few company functionaries, if possible.

( 2 ) Analyzing the information collected utilizing qualitative every bit good quantitative techniques.

( 3 ) Showing the assorted findings of the undertaking.

( 4 ) Making certain recommendations to the company.

RATIONALE BEHIND CHOOSING COMPANY

Oil & A ; Natural Gas Commission is a company, which has non merely stood the trial of clip but has successfully dealt with the force per unit areas of intense competition and globalisation. ONGC has progressively focused towards going a true planetary company. For this peculiar ground we decided to analyze ONGC as it will give a clear penetration on what precisely are the challenges faced by emerging Indian MNC ‘s.

Introduction

During the pre-independence period, the Assam Oil Company in the northeasterly and Attock Oil company in northwesterly portion of the undivided India were the lone oil companies bring forthing oil in the state, with minimum geographic expedition input. The major portion of Indian sedimentary basins was deemed to be unfit for development of oil and gas resources.

After independency, the national Government realized the importance oil and gas for rapid industrial development and its strategic function in defence. Consequently, while bordering the Industrial Policy Statement of 1948, the development of crude oil industry in the state was considered to be of extreme necessity.

Until 1955, private oil companies chiefly carried out geographic expedition of hydrocarbon resources of India.

In Assam, the Assam Oil Company was bring forthing oil at Digboi ( discovered in 1889 ) and the Oil India Ltd. ( a 50 % joint venture between Government of India and Burmah Oil Company ) was engaged in developing two freshly discovered big Fieldss Naharkatiya and Moran in Assam.

In 1955, Government of India decided to develop the oil and natural gas resources in the assorted parts of the state as portion of the Public Sector development. With this aim, an Oil and Natural Gas Directorate was set up towards the terminal of 1955.

In August, 1956, the Directorate was raised to the position of a committee with enhanced powers.

Since its origin, ONGC has been instrumental in transforming the state ‘s limited upstream sector into a big feasible playing field, with its activities spread throughout India and significantly in abroad districts. In the inland countries, ONGC non merely found new resources in Assam but besides established new oil state in Cambay basin ( Gujarat ) , while adding new petroliferous countries in the Assam-Arakan Fold Belt and East seashore basins ( both inland and offshore ) .

The perceptual experiences about ONGC began to alter for the better after it was given a position of Corporation in 1994 under the Companies ‘ Act. Now the sentiment has peaked in its favor to new highs. R. Kanan, general director, Oil & A ; Petrochemicals, ICICI Ltd, enlists the factors that have contributed to this alteration. “ The dismantlement of APM in April this twelvemonth, ONGC ‘s recent successes in acquisition of interest in Sakhalin I in Russia, gas chances in Vietnam – where it has 45 per cent interest in the joint venture ( JV ) and most significantly its launch of Mumbai High renovation program are the positive developments favoring ONGC ‘s chances in close hereafter, ” he says.

There are many others who portion his optimism. For illustration, an encouraging tendency in ONGC ‘S petroleum and gas production in the current twelvemonth has non escaped analysts ‘ notice. “ Production of oil and gas for the first one-fourth in this twelvemonth, encouragingly, increased year-on-year by an estimated 8.5 per cent and 6.1 per cent, severally, ” reports Equity Master, a web site. After traveling through a decennary of uncertainness, this reappraisal must come as a great alleviation to all concerned in ONGC.

ONGC spent the latter half of the ’90s in self-contemplation. The authorities had appointed a Mumbai High Review Committee in 1996 to analyze ONGC ‘S claims to its competency in pull offing Mumbai High jobs. The commission headed by DGH president, K Narayanan, submitted its study, which accepted the Corporation ‘s claim of inhouse capablenesss. However, it recommended that ONGC should take proficient aid from the advisers. ONGC commissioned Gaffne, Cline & A ; Associate – loyalists with experience of holding worked at over 200 different sites crossing the Earth – as its advisers to analyze and urge enhanced oil recovery program. Equally far as Neelam was concerned, the Corporation decided to put up its ain multidisciplinary squad under Singh.

The Consultant ‘s authorization was to:

– Revalidate the bing seismal and other informations

– Acquire fresh 3D ( three dimension ) seismic information for farther rating of Mumbai High field

– Prepare maps of oil pools

– Drill wells to turn up by passed oil

– Use seismal informations and good logs for doing prognosis of exploitable militias

– Using these prognosiss suggest Mumbai High renovation program

Admiting the in-house capablenesss of ONGC scientists and applied scientists, GCA, constituted a multi-disciplinary squad made up of ONGC forces. It limited itself to a function of facilitator. Both the squads submitted their study in 2001 to the ONGC board. This is every bit far as what it did refering its misfunctioning assets. But, the Corporation was besides enduring from the organizational wasting. To rectify this ONGC appointed McKinsey in 1997.

McKinsey ‘s authorization was to germinate an organizational construction that was far more antiphonal to its concern demands than that based on concern groups. “ About every proposal arising in the field required 15 to 20 signatures. The files shifted excessively and fro in the earlier system between functional caputs at the central office, ” says Raha. It frequently meant holds transcending a twelvemonth in affairs necessitating pressing determinations on Fieldss. Besides, since duties were shared at production platforms between different concern groups, the system degenerated into brawling over duties. Similarly, group truenesss frequently took precedency over the demands of undertakings. But, most significantly, it was found that the public presentation rating standards based on concern group yardstick were wholly at dunces with demands on Fieldss. Mckinsey recommended an asset-based attack with clearly-defined duties in its presentation titled ‘Organisation Transformation Project ‘ .

When Raha took charge in May 2001, it was clip to move and take things frontward. All of the studies were in. Pilots at Neelam and Mumbai High had proved successful. Besides, ‘Navratna ‘ position earned in April 1999 had given the direction significant leeway to germinate and set together its ain schemes. However, several incompatibilities in Mckinsey recommendations needed ironing-out before the experience acquired from the pilots in Neelam and Western offshore could be moulded into a larger strategic program.

Though Mckinsey recommendations were loosely accepted, coordination issues refering commonly-shared services ( such as who should bore forces working at plus site study to? A functional or an plus caput? ) needed to be sorted out.

ONGC: CHANGING WITH TIMES

ONGC is India ‘s Most Valuable Company, holding a market capitalization of Rs. 1 trillion and continues to retain its place as the most valuable company of India.

Was the biggest wealth Godhead for the period 1998-2003. ( Rs. 226.3 billion )

Merely Indian company to hold earned a net net income of over 10,000 crore.

Added 49.96 MMT of ultimate militias and kept up the tendency of positive accumulation for the 3rd back-to-back twelvemonth.

ONGC has a vertically oriented organisational construction.

Is Asia ‘s best Oil & A ; Gas company, as per a recent study conducted by US-based magazine ‘Global Finance ‘ .

Ranks as the 2nd biggest E & A ; P company ( and 1st in footings of net incomes ) , as per the Platts Energy Business Technology ( EBT ) Survey 2004

Ranks 24th among Global Energy Companies by Market Capitalization in PFC Energy 50 ( December 2004 ) . [ ONGC was ranked 17th till March 2004, before the portions monetary values dropped marginally for external grounds.

Is placed at the top of all Indian Corporates listed in Forbes 400 Global Corporates ( rank 133rd ) and Financial Times Global 500 ( rank 326th ) , by Market Capitalization.

Is recognized as the Most Valuable Indian Corporate, by Market Capitalization, Net Worth and Net Net incomes, in current listings of Economic Times 500 ( 4th clip in a row ) , Business Today 500, Business Baron 500 and Business Week.

Has created the highest-ever Market Value-Added ( MVA ) of Rs. 24,258 Crore and the fourth-highest Economic Value-Added ( EVA ) of Rs. 596 Crore, as assessed in the fifth Business Today-Stern Stewart survey ( April 2003 ) , in front of private sector leaders like Reliance and Infosys. ONGC is the lone Public Sector Enterprise to accomplish a positive MVA every bit good as EVA.

Is aiming to hold all its installings ( offshore and onshore ) accredited ( certified ) by March 2005. This will do ONGC the lone company in the universe in this respect.

Owns and operates more than 11000 kilometres of grapevines in India, including about 3200 kilometres of sub-sea grapevines. No other company in India operates even 50 per cent of this path length.

Crossed the landmark of gaining Net Net income transcending Rs.10,000 Crore, the first to make so among all Indian Corporates, and a singular Net Net income to Revenue ratio of 29.8 per cent. The growing in ONGC ‘s net incomes is non entirely due to deregulating in petroleum monetary values in India, as deregulating has affected all the oil companies, upriver every bit good as downstream, but it is merely ONGC which has exhibited such a public presentation ( of duplicating turnover and net incomes ) .

Has paid the highest-ever dividend in the Indian corporate history.

Its 10 per cent equity sale ( India ‘s highest-ever equity offer ) received unprecedented Global Investor acknowledgment. This was a landmark in Indian equity market, set uping beyond uncertainty, the regard ONGC ‘s professional direction bids among the planetary investor community. Harmonizing to a study published in ‘The Asian Wall Street Journal ( Hong Kong ) , ONGC ‘s Public Issue brought in 20 Foreign Institutional Investors ( FIls ) to India, as ( it was reported ) , ‘they could non disregard the company stand foring India ‘s energy security ‘ .

The Market Capitalization of the ONGC Group ( ONGC & A ; MRPL ) constitutes 10 per cent of the entire market capitalisation on the Bombay Stock Exchange ( BSE ) . ONGC has an equity weightage of 5 per cent in Sensex ; 15 per cent in the Nifty ( the merely Indian corporate with a two-digit presence there ) ; ONGC commands a 7 per cent weightage in the Morgan Stanley Capital International ( MSCI ) Index.

The growing in ONGC ‘s Market Capitalization ( from Rs. 18,500 Crore earlier May 2001 to Rs. 1,25,000 Crore in January 2004 ) is unprecedented and except Wipro ( who had a higher market capitalisation temporarily ) , no other Indian company ( either in public or private sector ) has seen such a phenomenal growing.

ONGC has come a long manner from the twenty-four hours ( a few old ages back ) when India and ONGC did non calculate on the planetary oil and gas map. Today, ONGC Group has 14 belongingss in 10 foreign states. Traveling by the investings ( Committed: USD 2.708 billion, and Actual: USD 1.919 billion ) , ONGC is the biggest Indian Multinational Corporation ( MNC ) .

ONGC ended the sectoral government in the Indian hydrocarbon industry and benchmarked the globally- established incorporate concern theoretical account ; it took up 71.6 per cent equity in the Mangalore Refinery & A ; Petrochemicals Limited ( MRPL ) , and besides took up a 23 per cent interest in the 364-km-long Mangalore-Hasan-Bangalore merchandise Pipeline, linking the refinery to the Karnataka backwoods. By turning around MRPL in 368 yearss, ONGC has set criterions of public sector companies resuscitating joint ( or private ) sector companies, turn outing that in concern, professionalism affairs, non ownership.

ONGC has announced the investing spending of Rs 33, OOO crore for the 10th five-year program ( 2007 ) . Rs13, 000 crore of this has been earmarked for acquisition of oil equity abroad. It is seting its bequest systems on a common SAP platform. It has besides installed a practical world Centre, Third Eye, at its Mumbai office. In seaward countries, by infield boring, it is cut downing the well spacings in order to pull out undrained oil between the bing Wellss. As the parametric quantities on which older Wellss were designed have changed, these Wellss are being redesigned and revitalised.

In Tripura, ONGC already has 47 billion three-dimensional meters ( bcm ) of in topographic point gas militias. While the field has a capacity to bring forth 4.5 bcm gas per twenty-four hours it is bring forthing merely 1.192 bcm for run intoing the demand in the country. For the balance, it has still has to happen the solution to evacuating gas through the hard terrain to other parts of India. In deep Waterss, ONGC has 21 crude oil geographic expedition licenses, of which 12 have come on nomination footing and the remainder through NELP commands. In the IX program it drilled five prospective Wellss. Two of these have shown encouraging accretion of hydrocarbons. It has now prioritised four deep-water undertakings for boring in Kutch, Kerala-Konkan, Krishna-Godavary and Cauvery basins. It will be boring in all 47 Wellss in these basins. Overall, the boring activity has risen aggressively in recent old ages ( see chart ) . Meanwhile a ample gas find has been made in Daman. Initial estimates suggest militias in the scope of 30 to 50 million three-dimensional pess. This could turn as new exploratory informations comes in.

However, the most exciting of recent developments in ONGC is its recent acquisition of MRPL. This is being viewed by its devouring perceivers as a first measure that Raha has taken towards doing it an integrated oil company that is in line with the planetary giants like Exxon Mobil or Shell. ONGC besides has retail selling rights in countries where it operates. But, its advancement in this sphere besides hinges on whether or non it is allowed to offer for HPCL and BPCL. If the authorities gives it the nod it may alter from being merely an geographic expedition and oil production company to a fully fledged oil major in no clip.

ONGC VIDESH LIMITED

OVL is a entirely owned subordinate of ONGC, India ‘s largest integrated oil and gas company. OVL operates entirely in foreign markets.

OVL today is the 2nd largest E & A ; P company in India by militias, 2nd merely to ONGC. It has eight abroad assets and is actively seeking more chances across the universe.

OVL ‘s attempts have been supported wholeheartedly by the Government of India, which has allowed OVL sole authorization vide Office Order No. DPE two ( 32 ) /96-Fin. dated January 17, 2000, which provides OVL individual window clearance for abroad upstream undertakings irrespective of investings involved.

OVL ‘s concerns is on the followers:

Focused Approach

Strong dealingss

Leverage “ purchaser ‘s powers ”

Entire deregulating of abroad concern.

Provision of financial & A ; revenue enhancement benefits.

Vision of the company: “ To be a universe category E & A ; P company supplying security oil to the state. ”

Mission of the company: “ By 2025, contribute 60 MMTPA of equity oil and gas. ”

Presently has 8 foreign assets & A ; is on the sentinel for more.

Investings of $ 1.7 billion in Sakhalin, Russia.

A one clip investing of $ 690 million in Sudan, biggest by any corporate in India

Have had net incomes to the melody of 23 chromium, 59cr & A ; 429 chromium for the year 2002, 2003, and 2004.

Has tie ups some of the biggest names: Petronas, British crude oil, Exxon etc.

The above diagram shows the assorted parts of the universe where OVL operates. Most are oil geographic expedition blocks but OVL produces oil at their Vietnam and Sudan undertakings. Their production has been on an addition.

Corporate SOCIAL RESPONSIBILITY

Successfully handled safety & A ; environmental issues at all sites.

Proper intervention of flush before let go ofing it in the environment.

A lower limit of 500 meitnerium from high tide point must be kept clear of all constructions so that beaches are unfastened to public.

At Sakhalin a $ 1 million micro-finance undertaking with Exxon Mobil.

Park Beautification Programmes.

Over $ 200 million for public substructure like roads & A ; bridges both in Russia and Sudan.

Have ordinances in topographic point to guarantee that the Torahs of the land are followed.

New BUSINESSES

ONGC has besides ventured into Coal Bed Methane ( CBM ) and Underground Coal Gasification ( UCG ) ;

CBM production would get down in 2006-07 and UCG in 2008-09

ONGC is besides looking at Gas Hydrates, as it is one possible beginning that could do India self-sufficient in energy.

Started the Sagar Sammriddhi undertaking, a deep H2O oil extraction undertaking, at par with the best in the universe.

The new undertaking has a day-to-day cost of $ 0.75 million.

Purposes to delve Wellss, some every bit deep as 3 kilometer.

Factor FOR THE SUCCESS OF ONGC & A ; OVL

The success of ONGC & A ; OVL can be explained with the aid of the undermentioned diagram:

The concern of ONGC characteristics high on about all the parametric quantities.

The drift for international concern is high in the company

The company is wholly internally managed i.e. , without the aid of foreigners hence is high on this graduated table as good

The company has customized itself harmonizing to the states it operates in and hence can be said to hold high operation criterions.

OVL operates in 12 states which is a reasonably large figure hence can be said that is quiet broad spread.

The states vary from Russia to Iran to Myanmar. The spiritual sentiments differ so make the type of authoritiess. Hence OVL scores extremely once more on the variegation forepart.

ONGC ‘s PIONEERING Attempt

ONGC is the lone fully-integrated crude oil company in India, runing along the full hydrocarbon value concatenation:

Holds largest portion ( 57.2 per cent ) of hydrocarbon land areas in India.

Contributes over 84 per cent of Indian ‘s oil and gas production.

Every 6th LPG cylinder comes from ONGC.

About one-tenth of Indian refinement capacity.

Created a record of kinds by turning Mangalore Refinery and Petrochemicals Limited around from being a stretcher instance for referral to BIFR to among the BSE Top 30, within a twelvemonth.

Owns 23 % of Mangalore-Hasan-Bangalore Product Pipeline ( MHBPL ) , linking MRPL to the Karnataka backwoods.

COMPTETIVE STRENGTH

All petroleums are sweet and most ( 76 % ) are light, with sulphur per centum runing from 0.02-0.10, API gravitation runing from 26A°-46A° and hence attracts a premium in the market.

Strong rational belongings base, information, cognition, accomplishments and experience.

Maximal figure of Exploration Licenses, including competitory NELP unit of ammunitions.

ONGC owns and operates more than 11000 kilometres of grapevines in India, including about 3200 kilometres of sub-sea grapevines. No other company in India, operates even 50 per cent of this path length.

LEVERAGING TECHNOLOGY

To achieve the strategic aim of bettering the Recovery Factor from 28 per cent to 40 per cent, ONGC has focused on prudent reservoir direction every bit good as effectual execution of engineerings for incremental recovery to maximise production over the full life rhythm of bing field

Improved Oil Recovery ( IOR ) and Enhanced Oil Recovery ( EOR ) strategies are being implemented:

In 15 Fieldss including Mumbai offshore

At a entire investing transcending US $ 2.5 billion.

Yielding incremental 120 MMT of O+OEG over 20 old ages

SOURCING EQUITY OIL ABROAD

ONGC ‘s abroad arm ONGC Videsh Limited ( OVL ) , has laid strong bridgehead in a figure of moneymaking land areas, some of them against stiff competition from international oil big leagues.

OVL has so far, acquired 15 belongingss in 14 foreign states, and endeavoring to make out farther

OVL ‘s undertakings are spread out in Vietnam, Russia, Sudan, Iraq, Iran, Lybia, Syria, Myanmar, Australia, and Ivory Coast. It is farther prosecuting Oil and gas geographic expedition blocks in Algeria, Australia, Indonesia, Nepal, Iran, Russia, UAE and Venezuela.

Production Sharing Contract in Vietnam for gas field holding militias of 2.04 TCF, with 45 per cent interest in partnership with BP and Petro Vietnam. Gas production has commenced from January 2003.

20 per cent retention in the Sakhalin-1 Production Sharing Agreement. The US $ 1.77 billion investing in Sakhalin seaward field is the individual largest foreign investing by India in any abroad venture and the individual largest foreign investing in Russia. It is scheduled to travel on production during 2005-06

Acquired 25 per cent of equity in the Greater Nile Oil Project in Sudan, the first bring forthing oil belongings. ONGC Nile Ganga BV, a wholly-owned subordinate, has been set up in the Netherlands to pull off this belongings. Around 3 Million Tonnes of rough oil is coming to India yearly from this undertaking. This is the first clip that equity petroleum of a group of companies in India is being imported into India for refinement by the group

Discovered a world-class giant gas field ‘Shwe ” in Block A-1 ( where OVL has 20 per cent portion ) in Myanmar, with estimated recoverable modesty of 4 to 6 trillion three-dimensional pess of gas.

Besides taking equity in oil & A ; gas blocks and looking for bets in E & A ; P companies, OVL is besides bagging prospective contracts ( like the refinery upgradation and grapevine contracts in Sudan, awarded to OVL on nomination footing due to its public presentation in that state ) , which will increase ONGC ‘s equity oil basket. ONGC ‘s strategic aim of sourcing 20 million tones of equity oil abroad per twelvemonth is likely to be fulfilled much before 2020. In fact, OVL is now eyeing a long-run mark of 60 MMT of Oil equivalent per twelvemonth by 2025.

Traveling by the investings ( Committed: US $ 4.3 billion, and Actual: US $ 2.75 billion ) , ONGC is the biggest Indian Multinational Corporation ( MNC ) .

A Best In Class Infrastructure And Facilities

ONGC ‘s success rate is at par with the planetary norm and is promoting its operations to the best-in-class degree, with the modernisation of its fleet of boring rigs and related equipment, at an investing of around US $ 400 million.

ONGC has adopted Best-in-class concern patterns for modernisation, enlargement and integrating of all Info-com systems with investing of around US $ 125 million.

Onshore

Production Installation: – 225

Pipeline Network ( kilometer ) : – 7900

Major Offshore Terminals ( including CFU, LPG, Gas, Sweetening workss, Storage Tanks ) : – 2

Boring Rigs: – 75

Work Over rigs: – 66

Seismic Unit of measurements: – 33

Loging Unit of measurements: – 35

Offshore

Well Platforms: – 131

Well-cum-Process Platforms: – 5

Procedure Platforms: – 28

Drilling/ Jack-up-Rigs: – 18

Pipeline Networks ( kilometer ) : – 3200

Offshore Supply Vessels: – 32

Particular Application Vessels: – 4

Opportunity

New oil blocks in the Cuba & A ; other Latin American Companies.

Contribute 60 MMTPA by the twelvemonth 2025 by utilizing province of the art engineering and beging stamps in new parts to research oil and gas.

Foray into retailing by establishing OVal, fuel dispensing Stationss at Mangalore.

Tie up with SHELL Bitumen co. for fabricating crude oil merchandises in India.

Launched Mangalore SEZ to imagine an investing of 35000 chromium.

Under the Mangalore SEZ program it aims to construct a Gasification works, oil refinery, development of portion of the Mangalore port etc.

Foster tie ups with other Indian companies like GAIL, OIL etc. to jointly research and pull out oil & A ; gas in India & A ; abroad.

ISSUES AND THREATS

The US-Iraq war has left the Iraq Block 8 geographic expedition undertaking in the stumble.

The dwindling crude oil militias.

Faces stiff competition from other regional participants like China National Petroleum corp. , Korea Gas corp. , Daewoo Intnl. Corp. etc

As the universe moves towards clean fuels or eco-friendly fuels there is a menace in the long tally to the oil concern.

OVL has expertness over land based geographic expedition and extraction of oil while bulk of the petroleum oil is deposited in the sedimentary beds deep beneath the sea, therefore technological expertness must be improved.

A latest menace has emerged from the propinquity of the Russian Energy Ministry, which controls the Yugansk oil Fieldss, with the Chinese National Petroleum Corp. intending that OVL will endure in footings of net income sharing.

The dictator manner regimen in states like Myanmar, Sudan & A ; Libya and rigorous authorities ordinances in Iran can halter the involvement of the company in the long tally. Hence it is of import that the authorities of India maintains affable relationship with these authoritiess.

Recommendation

Aggressively sentinel for new oil blocks so that Reserve Replacement to Production Ratio stays high.

Affect an overall organizational restructuring i.e. , perpendicular to horizontal to ease faster communicating

Pick up bets in regional oil blocks like the Yugansk oil Fieldss in Russia.

Keep upgrading engineering to hold an border over regional participants.

Increase recovery from a low 28 % to 40-50 % .

Increase presence in the fuel retailing concern by opening more pumps all over India

Form joint ventures with local companies to research oil in India.

KEY LEARNINGS

Think planetary act local. ONGC has embodied this as their mantra over the old ages. They have ventured far and broad but have ever made certain that wherever they go they keep in head the civilization, moralss and the Torahs of the land.

That to maintain in front of your rivals you must continuously innovate and follow up by maintaining abreast with the latest engineering.

That even Indian companies can crush planetary criterions. ONGC & A ; OVL have proved this by being the first Indian company to figure in dual figures in Fortune 500 list.

That Corporate Social Responsibility is an of import tool to be used by companies in the race against rivals where little things and gestures affair.

If a company can non accommodate and set to the local environment by being one of them the company might non last long and will die finally.