International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online)

Operations Strategy to Achieve Sustainability in the light of Oil Oversupply and Price Deflation
Frederick T. Go, Imee C. Acosta, Eduardo P. Malagapo

Abstract
Operations strategy in the current oil oversupply and price deflation represents an opportunity to manage and attain sustainability in oil and gas industry. This paper aims to evaluate the various operations strategies of the industry that will improve the company’s operational performance. The results revealed that all components of operations strategy along process innovation, quality assurance, risk and safety, monitoring and control, and cost management indicate a very high relationship to sustainability. Risk and safety and monitoring and control came out as predictors of sustainability. This means that the industry can continue to make progress by embracing a commitment to sustain and strengthen the company’s operation strategy. It is highly recommended that companies and establishments affected by global oil crisis must review their operations strategies, policies, standards, and procedures to achieve sustainability in the midst of crisis since the end of the era of oil shocks is not yet determined.

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