129285129 oraganizational-study

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Outlook
Oil and Gas revenues has been the mainstay of UAE’s economy accounting for one-
third of the country’s GDP. Sitting atop 8%of the world’s proven oil reserves (97.8 bn
barrels) and almost 5% of the world's natural gas (5.8 trillion cu meters); the UAE's
extraordinary hydrocarbon wealth gives it one of the highest GDP per capitas in the
world. UAE is a member of the Organization of the Petroleum Exporting Countries
(OPEC) since joining in 1967. The emirate of Abu Dhabi is the centre of oil and gas
industry followed by Dubai, Sharjah and Ras Al Khaimah. Abu Dhabi owns the lion's
share of the oil and gas resources - 95% of the oil and 92% of gas.
Abu Dhabi is the heart of UAE's hydrocarbon and industrial power. Abu Dhabi National
Oil Company (ADNOC) is the largest state owned company; it operates 17 subsidiaries
and has the right to take up to 60% share in all new major oil projects. The Abu Dhabi
National Oil Company asserted in August 2006 that the UAE is presently ready to
expand production of crude oil to 2.8m barrels per day (bpd) and is targeted to push
production to 4m bpd.. Given these vast resources, oil and gas continue to play a crucial
role in the country's economic profile.
Principal offshore oil fields are Umm Shaif, Lower Zakum, Upper Zakum, Al Bunduq
and Abu Al-Bukhoosh. The main onshore fields are Asab, Bab, Bu Hasa, Sahil and

Shah. Almost 92 per cent of the country's gas reserves are also located in Abu Dhabi and
the Khuff reservoir beneath the oil fields of Umm Shaif and Abu al-Bukhoosh ranks
among the largest single gas reservoirs in the world. The UAE exports majority of its
crude oil to Japan making it the UAE's largest customer. Gas exports are almost entirely
to Japan, the world's largest buyer of liquefied gas, with the UAE supplying almost one-
eighth of Japan's entire requirements.
GLOBAL OIL MARKET
The oil market in the end quarter of 2008 and 2009 has been strongly impacted by the
financial crisis, global recession and resulting erosion in world oil demand. These factors
have substantially magnified the uncertainties affecting the market and contributed
significantly to volatility.
World oil demand forecast in the next few years is expected to show the
following trends:
• World GDP will grow at a slow pace from the contraction.
• Apart from the slow economic recovery, various factors will slightly thin oil demand
growth in Asia such as the removal of price subsidies, fuel switching and energy
conservation programmes.
• There will be stronger utilization of nuclear power plants and usage of biofuels is
expected to grow rapidly, adding another 0.15 mb/d.

• The world will see strong movement toward use of smaller and more economical
vehicles, due to which most of the growth in oil usage will be in the transport fuel and
petrochemical sectors.
• Industrial oil consumption will show only moderate growth as a result of delayed and
slow economic growth.
• OECD economic recovery will be moderate and steady.
EVOLUTION OF THE OIL MARKET
Since its discovery in 1859 by Mr. Edwin Drake, oil's application and value in daily life
has increased. The earliest deposits of oil were found in the United States, first in
Pennsylvania and Ohio then in 1901 with larger reserves in Texas and Oklahoma; the
same year Arabian/Persian Gulf exploration began. In 1901, Mr. William D'Arcy, a
British businessman, was awarded a 60 year exploration, extraction, and sales
concession from the Persian (Iranian) government. D'Arcy in return paid 20,000 and
16% of the profits to Persia. The importance of oil is seen as early as 1905 when the
British government provided financial assistance to D'Arcy to prevent bankruptcy,
fearing the concession's sale to another government. In 1908, larger oil deposits were
discovered.
Between 1908 and 1944, oil reserves were discovered throughout the Gulf region. In
1944, Mr. Everette De Golyer, a prominent petroleum geologist, submitted a report to
the U.S. government that a minimum of 25 billion barrels of crude oil were in the region;
5 billion in Saudi Arabia alone. DeGoyler also provided an unofficial estimate of 300
billion barrels, a third in Saudi territory.
In 1944, the Middle East produced approximately 5% of the global oil supply, the U.S.
supplied over 60% of the global supply. The rate of production from U.S. reserves and
its longevity was a concern coinciding with declines in the Saudi Arabian economy due
to pilgrims unable to reach Mecca during WWII. This alignment of concerns contributed
to the cooperation between the two governments to explore and extract oil within Saudi
Arabia and others throughout the region.
UAE IN THE GLOBAL OIL BALANCE
UAE through its dominance of world oil reserve ownership occupies a
central position in the global energy balance although the latter is not yet
well developed. The continued strength of oil in global energy stems from its

dominance of the transportation sector to industrial sector. Power generation
sector has lost ground to coal, gas, and nuclear power in these sectors. The
rate of substitution away from oil is directly related to how technically
feasible such changes are and to the availability of cost-effective substitutes,
which explains why oil has continued to dominate the transportation sector,
where efforts to introduce alternatives have so far had limited success.
Within Middle East, UAE ranks fourth highest in terms of oil reserves. It has multiple
reserves which are being continuously exploited by the established players like ADNOC
in UAE. Government is taking many initiatives and investing in research for enhancing
the oil production capacity and exploring more reserves in the area. In contrast to oil, the
share of natural gas in total primary energy has been on the increase spurred by a
combination of higher oil prices, the need for energy self-sufficiency in the major
consuming countries, and diversification as well as recent environmental concerns
relating to global warming and climate change. The use of natural gas has also increased
as a result of secular growth in the petrochemical industry, where it is the main feedstock
for a wide variety of petrochemical products.

UAE OIL AND GAS RESOURCE ENDOWMENTS
As part of the region's efforts toward industrialization, and to increase the value added to
the oil sector, many Middle Eastern oil producers have built their own refineries, alone
or in partnership with international oil companies. As of 2008, UAE crude oil production
was 3.6% of the world production which makes United Arab Emirates (UAE) an
important provider to global energy markets. As a mainstay to the economy, oil exports
now account for about 30 percent of total UAE gross domestic product.
Projections of Demand for UAE Oil and Gas
In addition to being an important supplier of energy, the UAE is now becoming an
increasingly relevant consumer of energy. The UAE will continue its long tradition of
responsible energy stewardship as it develops and diversifies its economy, accelerates
the development of additional hydrocarbon reserves, and contributes to the development
and implementation of alternative energy sources.
The UAE is a member of the Organization of the Petroleum Exporting Countries
(OPEC) since joining in 1967. The emirate of Abu Dhabi is the center of the oil and gas
industry, followed by Dubai, Sharjah, and Ras al Khaimah. In 2004, natural gas supplied

64% of the country's total energy consumption, and oil supplied the remaining 36%. The
UAE's crude price is relatively expensive compared to other Middle Eastern benchmarks
due to its sweet and light composite. The UAE along with other GCC nations have
undertaken significant expansion projects in order to increase production capacity and
maintain market stability. The UAE continues to significantly increase its production to
supply the global energy markets. While some OPEC nations and many non-OPEC
nations have seen production declines over the last five years, the UAE has increased its
total production of crude oil by approximately 31 percent.
breakdown of hydrocarbon resources in UAE

UAE has maintained its strong hold in oil exports capitalizing on its huge reserves.
Increasing industrialization, inflow of industries, increase in automotive traffic etc has
led to increase in internal consumption of oil as well. Oil consumption has grown at a
CAGR of 8% from 2001 to 2008. Growth in exports has been more or less constant and
there has seen a steady increase of 1 - 2 % year on year where 2003 and 2006 saw high
increases of 14% and 8% respectively. Financial crisis in 2008 lead to decline in oil
prices and had an adverse impact on the exports resulting in a decline.
UAE does not have huge gas reserves hence the exports of gas are less then
consumption. Most of the gas produced is natural and is used mainly for internal
consumption. Internal consumption has increased at a CAGR of 9% from 2001 to 2008.
Increasing industrialization, population and building construction sector are the key
drivers for this growth. Exports have decreased mainly due to increase in internal
consumption and extreme competition which UAE faces with Qatar and Iran. UAE
continues to identify new projects in the upstream oil and gas sector which aims to boost
the nation's crude oil production capacity to nearly 4 million barrels per day by 2020,
which would amount to an additional increase of approximately 40 percent over current
production levels.

Reaching this ambitious target will represent a massive undertaking of resources and
investment, particularly in light of persistent manpower and materials shortages that
have afflicted the global oil and gas sector since 2003. UAE has invested roughly $7
billion in upstream production infrastructure since 2004 and anticipates investing some
$43 billion more in the coming years. The major projects ongoing in the Oil and Gas
sector are Bourouge complex expansion projects which are ongoing in different phases
with huge project. Most of the projects involve expansion in processing facilities e.g.
Habshan Gas Complex Expansion valued at $1000 mn. At the same time, UAE will
invest more than $6 billion to expand its domestic refining capacity, which will
significantly expand its ability to export refined products.
Seeking Innovations to Increase Production
Much of the UAE's current crude oil production is made possible by the reinjection of
natural gas to boost pressure in the nation's major oil reservoirs. Without this massive
program, the UAE's crude production would stagnate and decline. The UAE is testing
carbon capture and sequestration technologies to replace the reinjection of natural gas.
This would enhance exports of natural gas, create more flexibility in oil production and
provide important global environmental benefits.

Lowering Consumption, Boosting Exports
In 2005 the UAE became one of the first major oil-producing countries to ratify the
Kyoto Protocol to the UN Convention on Climate Change.
As part of its energy diversification strategy, the UAE is working in a variety of
ways to reduce its carbon footprint, meet its own domestic energy needs, and
expand exports:
• Abu Dhabi is investing more than $20 billion in Masdar, the world’s largest and
most comprehensive alternative energy program. US partners include MIT,
Columbia University, Colorado-based CH2MHill, Chicago-based Adrian Smith +
Gordon Gill Architecture, and other institutions worldwide, such as WWF,
Imperial College of London, and Tokyo Institute of Technology.
• The UAE is exploring nuclear energy to meet rapidly growing demand for
electricity, due to tremendous growth as well as intense water desalination
requirements. This reduces domestic demand for natural gas and the need for
dirty, oil-burning power plants used to meet peak demand during hot summer
months.
• In the first major cross-border energy deal between Gulf countries, the UAE is
importing natural gas by pipeline from Qatar. The gas supports domestic
electricity demands and frees Abu Dhabi's natural gas supply for crude oil
recovery. The project began delivering gas to power companies in the second
quarter of 2007.
• Among other energy efficiency and environmental projects, Dubai is developing
the region's most extensive light rail system, to move cars off the road reduce
pollution and ease traffic congestion.

PRICES
From 2002 to mid-2008, crude oil prices have been increasing. Prices as measured by
OPEC's reference basket, increased at a rate of 23.1% Compound Annual Growth Rate
(CAGR) during the period. The average annual price increased from US$24.36/b in 2002
to US$94.45/b for 2008. Prices almost tripled in the last 6 years due to continued strong
demand coming from emerging economies.
In addition to geopolitics, the main factors behind the upward trend were US dollar
weakness which encouraged inflows of new money into the crude futures market,
persistent refinery outages, and weather-related supply disruptions. On the back of
strong demand from emerging economies, geo political tensions and supply disruptions;
oil prices touched record levels, when it reached $147.27 per barrel in July 2008. Strong
demand from the BRIC (Brazil, Russia, India & China) nations and strengthened
industrial activities in the Middle East and Western countries provided solid support to
the prices.
Oil prices have plunged since striking record peaks, as a deteriorating global economy
dented demand for energy. Buyer resistance at higher levels, prolonged weakness in the
global financial markets and an expected increase in supply with the completion of
ongoing oil & gas projects in the Middle East have kept a bearish tone over the energy
markets. The steep drop in demand saw oil prices crash from record heights of almost
$150 barrels in 2008 to below $40 barrel /day at the beginning of 2009. Since then prices
have risen back to around $70/barrel after the OPEC producer group tightened supplies.
Prices have also found support from investors betting demand could start to outpace
supply growth in years to come. OPEC member countries have tried to cut as much as
4.2 million bpd of oil roughly 5 percent of world demand from the market since
September 2009 in a bid to soak up excess supplies.
Key players
• Adnoc
• Emarat
• ENOC
• DEL
• ADCO

• Others
Abu Dhabi National Oil Company (ADNOC)
Abu Dhabi National Oil Company (ADNOC) was established in 1971, to operate in all
areas of the oil and gas industry and since then has steadily broadened its activity
establishing companies and subsidiaries and creating an integrated oil and gas industry in
Abu Dhabi. Today, the company manages and oversees oil production of more than 2.7
million barrels a day which ranks it among the top ten oil and gas companies in the
world.
The Supreme Petroleum Council (SPC), chaired by H.H. Sheikh Khalifa Bin Zayed Al-
Nahyan, President of the UAE and Ruler of Abu Dhabi, formulates and oversees the
implementation of Abu Dhabi petroleum policies.Over the past three decades, ADNOC
has expanded its business activities, enhanced its competitive position and managed to
become one of the world's leading oil companies with substantial business interests in
upstream and downstream activities, including transportation, shipping, marketing and
distribution.
ADNOC's efforts in the exploration and production field have concentrated on assessing
undiscovered reserves and optimizing hydrocarbon recovery by improving the reservoir
management. ADNOC has 14 subsidiary companies working in the various fields of the
oil, gas and petrochemical industry as well as crude oil and gas transport and services.
They include ADCO, ADMA-OPCO, GASCO, ADGAS, ZADCO, TAKREER, NDC,
ESNAAD, IRSHAD, FERTIL, BOROUGE, ADNATCO, NGSCO, and ADNOC-
Distribution.
Emarat- Emirates General Petroleum Corporation
Founded by the federal government of the UAE in 1981, EMARAT markets and
distributes petroleum products throughout the country. The firm is the dominant regional
fuels distributor and is looking to expand into other downstream markets.
EMARAT operates a network of approximately 170 service stations as well as retailing
aviation fuels and lubricants. Emarat's share of lubricants market is approximately 18%
and its products are exported to Lebanon, Bahrain, Oman, Afghanistan, Jordan and
Pakistan. Oil terminals with a combined storage capacity of 2.3 mm pounds are located
in Jebel Ali, Dubai, Sharjah, Ras Al Khaimah and Fujairah. EMARAT is a major
supplier and distributor of both natural gas and liquefied petroleum gas.

Natural Gas: EMARAT owns and operates the largest natural gas transmission system
in the Northern Emirates. This system consists of a compressor station and
approximately 360Kms of underground pipe work, supplying 13 remote operated
metering and pressure regulating stations. This system is capable of supplying more than
300 million cubic feet of gas per day and has the capacity to meet all customers' needs
well into the 21st
century.
Liquefied Petroleum Gas (LPG): Emirate commissioned an LPG bottling plant at its
facility in the Jebel Ali Free Zone. The current capacity is 40 tons per shift per day.
Amounts of 25 lbs, 50 lbs and 100 lbs can be filled at an average of about 2000 cylinders
in each shift. Storage tanks of 300 tonnes capacity have been installed, and provision has
been made to store liquefied petroleum gas for bulk users, such as hotels and owners of
residential property.
Emirates National Oil Company Limited (ENOC)
ENOC a wholly owned Dubai Government company is a global energy group operating
30 active subsidiaries and joint ventures. The division develops and distributes products
locally and to a global market and also operates trading and bunkering services. The
group's shipping, terminalling at Jebel Ali and Fujairah and operates an international
fleet of oil and chemical tankers through its Gulf energy Maritime joint venture.
Dolphin Energy Ltd. (DEL)
Dolphin Energy's overall objective is to create long-term economic wealth for GCC
citizens, far into the future.
The overall investment in wells, sealines, processing plant, export pipeline and receiving
facilities has made this one of the largest energy-related ventures ever undertaken in the
Middle East.
Dolphin Energy Limited of Abu Dhabi, UAE began gas production in July 2007. This
unique strategic energy initiative involves production and processing of natural gas from
Qatar's offshore North Field, and transportation of the processed gas by subsea pipeline
to the UAE.

Other Multinational Players
BP has various interests in the UAE with its upstream assets concentrated largely in
UAE. BP has stakes in ADMA-APCO (14.67%),
ADCO (9.5%), ADGAS (10%) and Bunduq company (33.33%). ADMA-OPCO is the
operation of the UMM Shaif and Zakum oilfields. ADOC present crude from the ASAB,
Bab, Bu Hasa, Sahil and Shah oil fields and is partly owned by BP, Shell, Exxon
Mobile and Total each with 10% share. The BP Sharjah business is the largest private
producer, processor, and seller of natural gas in UAE in partnership with the Sharjah
Government. It operates three gas fields, a processing plant, gas compression facilities
and two liquid export terminals.
Total has been present in the UAE since 1939. The French firm has a 75% operating
interesting Abu Dhabi. The French has a 75% operating interest in the Abu Al Bu
Khoosh filed and it holds 9.5% of the onshore producer ADCO which operates the Asab,
Bab, Bu Hasa, Sahil and Shah oil fields the five major onshore fields in Abu Dhabi. In
2008, Total's production in the UAE was 243,000boe/day.
US major Conoco Philips in July 2008 signed a landmark deal to develop sour gas
reserves in the UAE. Conoco will hold a 40% stake in the project to develop the Shah
filed, with ADNOC unit GASCO holding the remaining 60. Conoco has been active in
the Dubai upstream oil sector through the DPC JV but handed over all operations to the
Dubai govt. in April 2007.
ExxonMobil has stakes in two upstream concessions in the AUE and is also a major
supplier of lubricating oils in the emirates. It has a 9.5%R stake in an onshore concession
operated by ADCO which a 131,000 barrels/day of oil in 2007. The company is also
working on the giant Upper Zakum filed which has been in the production for years but
Abu Dhabi wants Exxon Mobil to extend the life of the project as well as recovery rates.
Shell the regional headquarters for the upstream and oil products divisions are located in
Dubai while the Abu Dhabi office is responsible for Shell's various investments in the
emirates. Shell holds minority stake in two production JVs in Abu Dhabi including
a 15% stake in GASCO and 9.5% of ADCO.

Dana Gas Private domestic gas company Dana Gas was awarded a 25 year license for
the Western Offshore concession off Sharjah in March 2008. This is the company's first
offshore upstream asset in the Middle East. The company plans to spend over US$500
mn in 2008 on its projects in northern Iraq, Egypt and the UAE.
Occidental Petroleum acquired the rights to explore and develop two oil and gas fields
Jarn Yaphour and Rahman in the emirate of Abu Dhabi. Occidental will operate and
hold a 100% interest in hydrocarbons output from the fields.
Cosmo oil Japan's fourth largest Cosmo Oil was the first non western company to enter
the UAE's energy market. It has now been operating in Abu Dhabi since 1967 and has
formed a strong mutually beneficial relationship with the leaders of UAE. In January
2009 it was awarded a 20 year concession offshore Abu Dhabi. The contract
prolongation may entail additional exploration rights.
FUTURE OUTLOOK OF UAE OIL AND GAS SECTOR
UAE with roughly 8% of the global resources and oil to last for 100 years is definitely at
an enviable position. Given the high global demand for energy and supply and increased
reliance of transportation sector on oil, economic growth will continue to be strong due
to oil revenues.
UAE economy has been in a state of boom of the past eight years with the GDP
recording double growth rates in each successive year. Despite largely successful efforts
at economic diversification, nearly 40% of GDP is directly based on oil and gas output.
A number of challenges face the UAE, some relating to the oil industry itself, and others
concerning the economic management of the oil wealth. Aside from the need for a large
capital infusion into the industry, UAE has the additional challenge of using the sector
as a vehicle for increasing intraregional trade. The most important challenge, however,
lies in designing appropriate macroeconomic policies to ensure that the oil wealth is
managed effectively.
The oil market this year in 2009 has been strongly impacted by the financial crisis,
global recession and resulting erosion in world oil demand. These factors have
substantially magnified the uncertainties affecting the market and contributed
significantly to volatility.
The UAE's anti-crisis stimulus measures as a percentage of (GDP) are the largest among
global emerging markets and is set to boost liquidity. The UAE Central Bank has put in

place two support packages worth Dh120 bn and has also guaranteed bank deposits and
allowed lenders to perform dirham-dollar swaps. The Abu Dhabi Government pumped
about Dh16 bn into a recapitalization exercise involving five banks. These measures
constitute about 16% of the country's 2008 GDP.
Measures taken by bank, positive signs of economic recovery and the recent surge in oil
prices due to OPEC production cuts have contributed to reviving investor confidence.
This coupled with increased demand of oil and gas from developing economies is set to
give an optimistic look to the UAE oil and gas sector. World oil consumption is expected
to rise for the first time in two years in 2010 as a recovery in the global economy boosts
demand. As one of the fastest growing economies in the world, the outlook for the
UAE economy is very positive and this scenario is likely to continue in the foreseeable
future.
CODE OF ETHICS
Ventures Middle East and its employees adhere to the practices and ethical standards
established by the American Marketing Association (AMA), Charter Institute of
Marketing (CIM), and the Society of Competitive Intelligence Professionals (SCIP). The
firm and its employees abide by the applicable laws for the jurisdiction of the research,
Ventures Middle East, and the client organization. Additionally, any request or
requirements are incorporated into the practices of Ventures Middle East for the client's
engagement.

Company profile
Oil & Gas Construction Company (OGASCO L.L.C) was established in 1994
specializing in all types of steel fabrication and mechanical engineering as per
international standards. OGASCO have built its business on the foundation of providing
the best customer service available. The company reputation and constant attention to
good service sets us apart committing that every customer is their most important
customer. As part of these principles, they commit to contribute to sustainable
development.
OGASCO L.L.C. is a privately owned and operated company with over 16 years of
experience in steel fabrication and mechanical engineering. They cater to a diverse
clientele base and provide products, services and customized solutions to ensure
customer satisfaction throughout the project lifecycle. Attention to safety and detail are
key to their continued success in providing our customers with high quality services.
Consequently, they have implemented a system that reflects their commitment to quality,
health, safety and environment (QHSE). Their goal is to be a leader in QHSE
performance in the industry segments.
QHSE SYSTEM
The company believes that the implementation of QHSE management system enhances its
ability to meet the required quality in a safe and environmental friendly manner as per the
projects’ budget, schedule and scope. The QHSE management system identifies the means for
developing and implementing all policies and objectives concerning the quality and
environmental aspects through contingency plans and continuous training.
MAJOR PARTNERS
• Danieli

• Bechtel
• NDC
• Takreer
• Adnoc intl
• Adma
• Technip
• Gasco
• Babcock borsig
OGASCO’S VISION
To be the most efficient and best equipped construction company in building Oil and
Gas, Power and Petrochemical projects.
OGASCO’S MISSION
Ogasco strives to be the client’s choice for construction services based upon our ongoing
record of meeting or exceeding their expectations.
They are committed to:
• Be a highly effective, lean and fast moving organization.
• Producing the highest quality at the lowest cost.
• Treating the customers, architects, engineers, employees, subcontractors and
vendors as partners.
• Be a great place to work where people are inspired to be the best they can be.
SERVICES
• Pressure vessels

• Piping
• Offshore equipments
• Onshore and offshore steel structures
• Tank ducts bins and silos
• Construction and erection
• Aluminum welding
• Scaffolding services
• Crane gliders
• Site repair and maintenance
CORPORATE OBJECTIVES
Sl no. Objectives Target
1 Cost reduction • To reduce overall operating cost of
OGASCO
2 Quality Management • Introduction of new quality aspects
to increase the brand
equality/product preference
3 Increase in profitability &
turnover
• Maintenance of profitability
turnover ratio higher than the
preceding year

OGASCO VALUES
Customer Customer Satisfaction is our top priority
Quality of Services Quality of services is our Strength.
Environment Extreme care for our environment &
society.
Safety & Health Safety of our employees and society is our
motto.
People Positive attitude and team work sustains
&motivates us

OBSERVATIONS IN EACH DEPARTMENT
PRODUCTION/ MANUFACTURING
DEPARTMENT
PRESSURE VESSELS & HEAT EXCHANGERS
Using high grade carbon and stainless steel, they are manufacturing Pressure vessels
which are used for various applications and are widely demanded in several industries.
These Vessels are minutely examined and will meet all the international standards. Their
emphasis will be on designing and manufacturing as per the client’s specifications,
which has made them capable to deliver high efficient pressure vessels. They are capable
to work using different types of critical fluids. .
Fabrication of pressure tanks and vessels that bear the U & R stamps in accordance with
the ASME Boiler and Pressure Vessel Code.
PIPING
• Piping spool fabrication

• Fabrication of pipe spools in CS, SS, Duplex/Super Duplex
• Their scope includes:
o Preparation of fabrication drawings/Isometric drawings
o Procurement of materials
o Complete fabrication includes marking , cutting , rolling, and welding as
per the required codes/ standards
o Welding as per ASME Sec IX
o Hydro test, all other non destructive tests
o Pickling and passivation of weld joints (for SS and duplex materials)
o Complete QA/QC documentation and as-built drawings
OFFSHORE EQUIPMENTS
The thriving experiences that the company possesses in the offshore oil and gas industry
helps them to deliver a wide range of complex assemblies, equipments and structures
fabricated across the spectrum of the industry codes and standards.
They have the honor to execute the projects in accordance with contract specification
and under supervision of different classification and verification societies such as ABS,
DNV, BV, Lloyds, and RINA and prove their capabilities under first class international
offshore construction standards.
Available wide range of qualified welders and welding procedures NDT capabilities
increases the aptitude of the company which helps them to proceed for the welding of the
most of the material and consumer types. Our fabrication services cover a diversified
amount of offshore oil and gas equipments and structures; including but not limited to:
• SPM Buoys (CALM, CBM)

• PLEMs
• Anchors
• Offshore Product Piping
• Offshore steel structure
• Subsea structures
• Jackets
• Process modules
• Utility modules
• Drilling modules
• Decks
• Ship accessories such as bollards, chocks
With water front facility which is strategically positioned closed to our fabrication
premises; they are able to deliver all the products through sea and are able to proceed for
all the offshore testing for our products. Sea fastening services is one of their abilities
which is helps them to do the complete load out and delivery of equipments on the vessel
or barge independently.
TANKS, DUCTS, AND SILOS
TANKS
They offer a complete range of high performance storage tanks that includes industrial
liquid resin, chemical, petrochemical tanks, water, wine storage tanks etc. Their
industrial storage tanks are manufactured from stainless steel and carbon steel for
assurance of efficiency. Their chemical storage tanks are provided in standard designs
and can be customized as per the varied requirements of the client. They provide strong
and durable storage tanks in varied configurations like vertical, horizontal, above ground
and underground. They are counted among the distinguished storage tanks
manufacturers and suppliers in UAE.

SILOS AND DUCTS
They offer complete range of fabrication services from simple fabrication to complex,
fully engineered skidded system. They fabricate ducts and silos for storage purposes.
These are mainly used in the storage of powders and chemicals. Ducts and silos are
fabricated at their yard field and the company makes sure that they have defect free
finish.
ONSHORE & OFFSHORE STEEL STRUCTURES
Their flourishing experiences in the offshore oil and gas industry means that they are
able to deliver a unique and wide range of complex assemblies & structures fabricated
across the continuum of the industry codes and standards.
They offer a wide array of services. They have full time QA/QC managers, certified
welders, AutoCAD, in-house detailing, material handling systems and surface
preparation. The company’s shop fabrication and welding procedures are of the highest
quality and standards. The company takes pride in meeting the critical schedule
milestones set by our clients.
The company’s structural steel fabrication services routinely include steel structures,
pipe bridges, catwalks, stairs, tool pedestals, handrails and ladders, canopies, equipment
structures and structural steel frames.
CONSTRUCTION AND ERECTION
The major mechanical construction work where Ogasco is involved is process piping,
flare tower erection, equipment erection, site modification of existing ASME stamped
vessels, site modification of structural steel, site erection of structural steel etc. they have
carried out the process piping for the oil and gas sector such as fire water line, portable
water line, process lines which includes installation of pipes in the pipe racks, sleeper
structured flare stack which is the tallest in the UAE in Borouge2. The site modification
activities for ASME stamped vessels have also been done in the prestigious Habshan and
in emirates steel.
The company has a highly experienced construction crew with vast amount of
equipments and other machineries. They can provide services of IRATA trained
professional for carrying out various high risk jobs with highest degree of safety. The
company’s motto is to provide their services to clients as a complete package for

mechanical activities. To support this, they are backed by vast facilities on fabrication at
site as well as their workshop includes Scaffolding, fireproofing, chemical cleaning,
painting etc. they have received numerous awards for carrying out work safely during
the project which reflect our capability to do the job safely in the high risk zone.
TANK ERECTION
• They have gained particular reputation of their Field projects in fabrication
and erection of all types of fuel storage tanks, Horizontal and Vertical in
compliance with the requirements of particular required standards.
• Their Construction Engineering and Field erection Team utilizes the latest
construction techniques to provide a safe, dependable new tank at
competitive prices. The field fabrication facility, can handle all cutting,
rolling and fabrication of bottoms, shell plates, roofs and steel structures of
Tank Erection.
• In addition to their field projects, we also have shop projects, where we can
fabricate tank fittings and appurtenances such as Manholes, nozzle (inlet
and outlet connections), vertical cage ladders, stairways (spiral and radial),
handrails (pipe and angles) etc.
BLASTING, PAINTING, & FIRE PROOFING
OGASCO has in terms of square meters of coated surface, been one of the largest
blasting and painting contractor in the Middle East over the last fifteen years having
completed in excess of millions of square meters of coating in different array of
products, tonnes of structural steel coating to the most stringent quality standards in the
industry.
Out of nearly 135000 Sq M, 60000 Sq M is dedicated for painting which includes
covered and uncovered space. Environmentally compliant painting facility in OGASCO
with other facilities and site crews and camps as required across UAE. These facilities
are complimented by 700 of qualified manpower with full equipment to cover all aspects
of any blasting and painting requirement and have 80000 Sq M/month painting and
blasting capacity including internal coating of pipes and licensed application of chemical
resistant coatings.
OGASCO is approved with almost all the ADNOC group of companies for blasting and
painting as a contractor and has extensive experience of their requirements and
specifications.

ALUMINIUM WELDING
ALUMINIUM AND AL-ALLOYS
OGASCO has executed projects which involved fabrication and welding of Aluminium
and Al- alloys including structural and piping jobs.
Codes and standards used:
• EN ISO 15614-2
• ASME Sec IX
• AWS D 1.2
Material thickness range we can handle : 2.5 mm to 20 mm for piping and 4 mm to 50
mm for structural jobs.
Welding processes used SMAW, GTAW and GMAW.
Materials which we could fabricate – All P21, 22, 23 & 26 materials and their sub
groups like SB209, SB210, SB 211, SB 234, SB241, SB247 etc. and equivalent
materials in other international standards.
HR DEPARTMENT
The most and vital resource of any organization is its people. An organization that exists
to produce goods and services has a good chance to survive and if it consists of right
people. Keltron has a total strength of 500 employees
KEY FUNCTIONS
Recruitment
Apprentices
Ex. Apprentices on contract
Establishment

Promotion/Increments
Performance appraisal
Transfer/Deputation
Resignation/Retirement/Termination
Time office function
Attendance records
Pay roll system
Welfare function
Uniforms
Canteen
Medical claim/medical check up
Welfare schemes
Training & development
Industrial training
On the job training
Skill development training
Disciplinary cases
Workmen certified standing orders
Non workmen conduct discipline & appeal rules
RECRUITMENT

It is the process to discover the sources of manpower to meet the requirements of the
staffing schedule. Human resource planning is to recruit based on the required quantity
and quality to meet the organizational objectives. OGASCO access the surplus or
shortage of human resources and take measures accordingly.
The HR Sr. officer is in charge of all the recruitment processes and it is based on send
interview forms as well as call letters specifying the date. The qualified candidates are
listed based on their rank and qualifications for the job.
ESTABLISHMENT
This program covers promotion, performance appraisal, transfer and retirement.
Promotion is mainly done on the basis of seniority cum merit. Performance appraisal is
done both at supervisory level and executive level. Separate appraisal forms are there for
the executives and the employees. This is mainly done to evaluate how far the results are
achieved and to plan for better performance. Retirement usually happens at the age of 60
and no other measures of employee turnover happen in OGASCO.
TIME OFFICE FUNCTION
Attendance, working hours
The working hours in OGASCO are from 9.30am -5.30pm. Employee’s attendance is
based on using finger print scanners by which once when the employee has given his
thumb signature, his attendance automatically gets recorded. While leaving the company
the employee, whether for official or unofficial purposes, he/she has to give in his/her
signatures again; and according to that changes will be automatically made in the
attendance system.

PAYROLL MANAGEMENT
It is the heart of any human resource system of an organization. The solution has to take care of
calculation of salary as per the rules of the company, various deductions to be done from salary
including statutory deductions like income tax. The term ‘payroll ‘encompasses every employee
of the organization who receives a regular wage or other compensation. Companies often use
objective measuring tools such as timecards or timesheets completed by supervisors to
determine the total amount of payroll due to each pay period.
WELFARE FUNCTION
Uniform:
At OGASCO the employees in the production dept. has separate uniforms supplied by the
organization. Washing as well as stitching allowance are given to the employees.
Canteen:
A well-furnished canteen is present at the field which can accommodate 200 employees at a
time in the canteen. Food is provided at 50% subside rate for meals.
Welfare schemes:
There are several welfare schemes like medical allowance etc. For traveling, buses are provided
at free of cost.
OGASCO HR PROCEDURES
• New recruitment plan
• Employee grievance
• Employee appraisal
• Visa renewal

NEW RECRUITMENT PLAN
Purpose:
The purpose of this document is to define the procedures necessary for the effective
implementation of the new recruitment plan.
Responsibility:
HR Manager
HR staff
Procedure:
Process Action
Receipt of approved
employee requisition form
Receives employee requisition form duly approved by the
management along with designated duties.
Preparation of job description
Final approval and preparation
Selection of candidate Search for shortlisted candidate from the CV archive file. If
no, seek advertisement.
Conducts interview Call/arrange availability of candidate for interview and
forward candidate to concern for interview using interview
and test result form.
Pre- Joining Procedure Candidate Accepted:
• Prepare Job Offer/Appointment Letter duly approved
by the Management and signed by the Employee
• Inform concerned department/site

• Confirm joining from candidate, ensure all
requirements are complete to process the necessary
documents for application and forward to concern for
further processing
Upon release of labor approval:
• Visa-original labor approval/passport copy/photo
• Update the job offer status upon receipt of new job
offer
• Updated report to circulate every month 10th
Candidate on transfer visa:
All documents required for visa processing to receive from
candidate
Update to the candidate on process and follow up
Candidate offer denial:
Inform the management and restart the candidate selection
process
Candidate Rejected:
• Inform candidate and concern department/site
• Look for other possible candidate
Candidate confirms
Joining
When labor approval is release, call employee for
confirmation of joining the company and proceed with visa.

EMPLOYEE TRANSFER PROCEDURE
Purpose:
The purpose of this document is to define the necessary procedure from one
department/site/project to another.
Responsibility:
HR manager
HR staff
Procedure:
Process Action
Employee Transfer Request for manpower mobilization of new & re-schedule
must be received by agreed format
All local transfer, if have security pass shall be mobilized
next working day excluding Fridays and public holidays
Workers nominated requires security pass will be
mobilized subjected to availability of security pass
Transfer Procedure Prepare documents to mobilize employee to site:
• Provision of the employee transfer sheet
• Provision of petty cash for transportation

• Handling over the original security pass to
employee
• Provision of accommodation & confirm
mobilization
• Forwarding the request to the concern for updating
the employee status
• Update the employee personal file
• Update the payroll status of the employee
Inform concern site Prepare letter for mobilization of personnel and inform
site through fax/phone/email
Update company records Update monthly salary listing for employee transfer
EMPLOYEE GRIEVANCE PROCEDURE
Purpose:
The purpose of this document is to define the employee grievance procedure.
Responsibility:
HR manager
HR staff
Site coordinator/foreman

Accounts personnel
Procedure:
Process Action
Registering employee
complaint
All labor issues related to salary, allowances missing and
employee documents should be documented by employee
grievance prepared by Site Coordinator/foreman
Final Report of Grievance by 18th
of every month
Any request after 18th
of any month will be given next month
except emergency situation- memo to be raised
Processing of grievance Compilation of list of grievance by 20th
of every month
Ensure to follow up the report of the employee
Any additional follow up
Ensuring of all closure
Furnish grievance form
to accounts
Submission of report with log sheet
Documenting the necessary documents to the concern person
and update site
Closing of grievance Follow up the procedures of report by every weekend
Final copy of closure

Update records The closure report shall be updated
Archiving the records All reports with closure report shall be done
EMPLOYEE APPRAISAL FORM
Purpose:
The purpose of this document is to define the controls needed in appraising an employee.
Responsibility:
General Manager
Finance Manager
Operations Manager
HR Manager
Procedure:
Process Action

Receipt of request for
increment
Receipt of request for employee appraisal & Authentication:
• Increment request Approved by immediate project
manager/Site In charge
• Cross Checking of employee appraisal for acceptance
• Forwarding the request for processing to concern HR
Processing of request • Updating the current status of an employee on letter
• Forwarding this request approval to Opr Manager/HR
manager/Finance manager/GM
• Follow up on feedback
• Updating on request approval to site/concern Manger
Employee action
procedure
• Upon Approval employee appraisal, the employee
action should be prepared
• Forward duly accomplished employee action form to
management for approval. Update log sheet and
salary sheet
• Provide accounts copy of duly approved employee
action. Inform concern manager/supervisor
Update company record Update monthly salary list
Send all the approved request to concern department
VISA RENEWAL PROCEDURE
Purpose:
The purpose of this document is to define the actions needed in renewal of visa.
Responsibility:

HR manager
PRO
HR staff
Process Action
Preparation of yearly
report
Report on visa expiry, labor card expiry and passport expiry
for whole next year
Forwarding the report of the same to HR manager
Validating the report
The approved report prepared and forwarded to all concern
and recall the old
Processing the visa
renewal
Preparation of the employee contract 60 days prior labor
card expiry
Preparation of necessary documents for PRO dept for visa
renewal 40 days before expiry of labor card
Request to renew the passport if required by employee the
information to employee and follow up to close it
Circulate the new employee contract and confirm the receipt
of receiving
Follow up to receive the contract by 20 working days from

date of receipt
Preparation of funds requirement
Calling and arranging the person with necessary document to
proceed for medical checkup for visa renewal
Initializing the renewal of visa request after the receipt of
medical
Request submission for labor card & visa renewal
The request follow up
Receipt of renewed
visa/labor card
Receipt of renewed visa & labor card
Forward the receipt of labor card and passport to HR dept
concern
Proceed to renew the security pass if applicable
Update the receipt of the labor card & visa
Update the visa renewal report and circulate accordingly
File documents &
transferring to the
employee
Scanning the new passport in the ERPO system
Update the details for the new labor card in the ERPO
Update the personnel file with revised documents
Transferring the new labor card to the employee with
acknowledge receipt.
Follow up

MARKETING DEPARTMENT
OGASCO markets its products through the marketing branches situated in important
emirates like Abu Dhabi, Dubai, Sharjah and Ajman. The demand for the product is
identified and the requirement for the same is given to the concerned manufacturing
units and the concerned products are manufactured. The corporate office in Mussafah
coordinates all the activities of the various branches.
The marketing departments are concerned with the following functions:
• Pricing
• Customer preference
• Credit policy
• Complaint handling
COMPETITORS
• HI-TECH engineering services LLC
• Al-Fattah engineering and mechanical metal works Est
• Silvertech Engineering LLC

• ENJ steel
• Middle East steel
MARKETING STRATEGIES
• Building up more advanced production facilities for domestic as well as
international design and equipment of offshore plant.
• Offshore industry development plan for 5 years has been set.
• Gain market intelligence and leads using qualified email recipients
• 3-day turnaround for urgent campaigns
• Government support to help plant business
• Vigorously attracting foreign capital.
FINANCE DEPARTMENT
Finance is considered to the lifeblood of any business. Financial management is closely
linked to all the other areas of management. The firm’s attitude towards the other areas
of management largely depends on its financial position. Financial management is that
management activity concerned with the planning and controlling of firms financial
resources.
The field of finance refers to the concepts of time, money, and risk and how they are
interrelated. It is one of the most important and essential part of the organization.
FUNCTIONS
• Providing and interpreting financial information
• Business modeling and forecasting
• Monitoring performance and efficiency
• Pricing and competitor analysis
• Developing complex finance models

• Assessing the financial implications of new and existing companies
• Preparing accounts and reconciling balance sheets
• Overseeing budgetary control
• Monitoring cash flow
• Supervising other staff
• Analyzing performance and efficiency
For immediate functioning there are mainly 4 groups:
• Cash and compilation group
• Purchase account and costing group
• Sales accounts group
• Payroll group
CASH AND COMPILATION GROUP
Functions:
• Cash and bank transactions
• Receipt and disbursement of cash and maintenance of cash group
• Receipts and issue of cheques, maintenance of bank book and preparation of
bank reconciliation statement
• Passing of miscellaneous bills such as printing and stationery etc
• Maintenance of general accounts
• Preparation of monthly accounts
• Preparation of annual accounts
• Budget and budgetary control
PURCHASE ACCOUNT AND COSTING GROUP

• Passing purchase bills for payment and preparation of vouchers
• Clearance of purchase documents from banks
• Preparation of monthly schedule of creditors
• Scrutiny of purchase proposals for finance consensus
COSTING
• Maintenance of stock records
• Preparation of monthly receipts, issue and stock of inventories of MIS
• Verification of inventories for preparation of annual accounts
• Any other work that may come across and assigned to the group by the
department head from time to time
SALES ACCOUNTS GROUP
• Preparation of sales invoices and maintenances of sales journals
• Preparation of monthly schedule of debtors, customer wise and invoice wise
• Arranging transit insurance and matters relating to claims
• Any other accounting matters connected with sale
PAYROLL GROUP
• Preparation of payroll
• Preparation of monthly journals entries of payroll
• Remittance of payroll recovery

• Preparation of payments vouchers for regulation of salary, interest subsidy on
housing loan etc
RESEARCH AND DEVELOPMENT
DEPARTMENT
The workflow of the research and development department is defined depending on the
functions the department is associated with. There are several main functions such as:
• Researches for and development of new products
• Product maintenance and enhancement
• Quality and regulatory compliance
• Developing products on time
• Developing products that can be made economically and quickly
• Developing products that meet the specified quality levels as per quality
plan

The primary function of the R&D department is to conduct researches for new products
and develop new solutions to existing products and developing them. Each product has a
finite commercial life. In order to be competitive, the company continuously needs to
find new technological development of product range. R&D managers and their staff
take responsibility of performing:
• Ensuring the new product meets the product specification
• Researching the product according to allocated budget
• Checking if the product meets the production costs
• Delivering products in time and in full range
• Developing the product to comply with regulatory requirements and specified
quality levels
PRODUCT MAINTENANCE AND ENHANCEMENT
This is by far the most important secondary function. It helps to keep the company
product range ahead of the competition and enhance the life of the products. Existing
products should be maintained ensuring that they should be manufactured according to
the specification.
If there is shortage for any particular element in a product, then the R&D should come
up with another alternative element so as to maintain the product range.
R&D DEPARTMENT INTERNAL STRUCTURE

QUALITY AND REGULATORY COMPLIANCE
Quality is a major issue and R&D dept is deeply involved in ensuring quality of new
products and attaining the required levels of regulatory requirements. In cooperation
with the quality assurance dept, R&D dept develops a quality plan for new products.
When the company sells the product on the market place, it should keep the regulatory
compliance with legal requirements.
CUSTOMER FOCUS
The quality management system will be applied for all projects to ensure that
requirements of the customer are fully known at the proposals and the scope of work is
Development Manager
Digital circuit design
engineer
Analogue circuit
design engineer
Mechanical design
engineer
High level
software
engineer
Low level
software engineer
Technician
(mechanical)
Technician
(electronics)

known in the order that customer requirements are fully met. By keeping in mind
customer focus, the existing products can modified whereby there is no compromise on
its quality.
QUALITY POLICY
OGASCO declares itself committed to the supply of services/products, meeting or
exceeding customer’s quality, safety and delivery requirements, including statutory and
delivery requirements, with optimized order fulfillment costs and without compromising
other stakeholder’s interests. Each supply must serve as a recommendation for further
business transactions and enhance the organization’s reputation as a quality and reliable
supplier.
The organization ensures that competent human resources are employed,
customer satisfaction is measured, and quality objectives are established, measured,
systematically reviewed and revised by top management in order to bring about
continual improvement in the effectiveness of the quality management system.
Each department head has the responsibility for effectively implementing the quality
management system with the involvement of all employees in his department and acts as
a role model for promoting improvement in the quality management, thereby, enhancing
customer satisfaction.
ANALYTICAL REFLECTIONS

SWOT ANALYSIS
SWOT stands for Strength, Weakness, Opportunities, and Threats of an Organization.
The crucial fact of a multinational strategy is to be determining the direction of
multinational business and course of action to be adopted to reach the destination. This is
possible only when comprehensive SWOT analysis is made in a detached and
dispassionate manner. SWOT analysis calls for matching of capabilities of and of
compact the threats to the business. The management can identify those opportunities in
different countries, which the firm with its existing capabilities can exploit fully its
profitability and grow successfully.

STRENGTHS:
• Dedicated work force
• Government work orders
• Optimum utilization of resources
• Total quality Management
• Top customer service to their products
• 100% quality maintained in each process of work
• Established track records for their projects
• Access to international expertise
• Despite of the recent global economic downfall, OGASCO’s market strength
remained unaffected. Our successful extensive history and knowledge of the
market enabled us to maintain our consistency in providing quality services to
our diverse customers.
WEAKNESS:
• Lack of technology upgradation
• Inadequate capital for growth
• Inadequate marketing capacity
• Excess capacity in certain sectors
• Weak financials- high leverage

OPPORTUNITIES:
• lots of orders from private firms
• R&D to undertake new projects
• Recruitment of young talented professionals
• Brand name and position
• Government support
• New technology introduce in engineering field for easy adaptation with new
world technology
THREATS:
• Different attitude of changing governments
• High attrition rate of skilled technicians
• Uncertainties with regard to the investment decision of oil majors
MCKINSEY’S 7s FRAMEWORK

The 7-s model is a tool for managerial analysis and action that provides a
structure with which to consider a company as a whole, so that the
organization’s problems may be diagnosed and a strategy may be
developed and implemented.
Strategy:

The route that the organization has chosen for its future growth is referred to as
strategy
Structure:
The framework in which the activities of an organization’s members are coordinated
is called its structure. The four basic structural forms are the functional form,
divisional structure, matrix structure and network structure.
Style:
It refers to the leadership approach of top management and the organizations overall
approach; also the way in which the organizations employees present themselves to
the outside world, to suppliers and customers.
Skills:
This refers to what the company does best; the distinct capabilities & competencies
that reside in the organization.
Staff:
The organization’s human resources are the generally defined staff. Refers to how
people are developed, trained, socialized, integrated, motivated, and how their careers
are managed.
Shared values:
It refers to originally called super ordinate goals; the guiding concepts & principles of
the organization, i.e. values and aspirations which are often unwritten. It also refers to
the fundamental ideas around which a business is built.
McKinney’s model helps clients both in meeting near term performance challenges
and in devising strategies to succeed in today’s competitive world. The model is
balanced between corporate center and the various business units on a variety of

strategic, organizational and operational issues. It helps in providing both high level
strategic advice and implementing a hands on approach to improving performance.
This model clearly shows the relationship between one factor and the other. Upon
clearly noticing, it is noticed that the whole process or model is for change. Change
can be for anything, it can be for hard components like strategy, structure, systems
which are feasible and normally easy to identify in an organization or it can also be
for softer components too.
As of now in OGASCO, the company does not have all of its sectors making profit.
Some of the sectors like painting, piping etc are very high in profits, but some others
like offshore equipments are less preferred so they don’t make any profit. The main
reason is that their strategy is not very broad scoped towards all of the other sectors.
There should be a change-management strategy adopted. Changing the culture and
overcoming the staff resistance to changes, especially the one that alters the power
structure in the organization and the inherent values of the organization is generally
difficult to manage. However if these factors are altered, they can have a great impact
on the structure, strategies and the systems of the organizations. Over the past few
years, there has been a trend to have more open, flexible and dynamic culture in the
organization which brings towards a major attitude change in the staff of the
company. Now the scenario is that the employees are given preference first and then
goes for customers. As a matter of fact a giant named HCL has its tagline as
employee’s first, customers second. So if a similar strategy is used then, the company
can bring up its failing factors to come up.
So thus by bringing up such a strategy, the company can grow and by this the staff
attitude can change which will reflect in their skills and which in turn will bring more
success for the company.
CONCLUSION:

OGASCO has helped me in understanding and experiencing how the company
functions and how its various requirements are met. This study was very beneficial
for me, not to mention my working experience in the HR field at this company. I
found the entire one month of work and study very rewarding as I now understand
the proper meaning for ‘ergonomics’. The organizational study has given me a
insightful view of how an organization functions.
The organization has a wide range of products along with plentiful other services.
Some of the products are customized according to the client’s needs. It has a very
unique and profound way of testing and making sure that the products are of 100%
quality.
The analysis has given me a clear cut idea about the present condition of the
company and also it’s near future. This revelation has come from a thorough SWOT
Analysis along with Mckinsey’s 7-s model. Moreover the employee’s attrition rate
has increased. This might have happened due to the lack of efforts taken by the
management in satisfying the employees with good working conditions, personnel
and professional growth, salary and other benefits etc.
So overall even though the company has earned enough reputation over its years of
service, but it has to take care of its stakeholders interests also, so as to maintain a
healthy and stable condition. Moreover the company also has to come with a culture
that brings about a sense of belongingness in the employees so that the overall
employee turnover rate can be decreased.
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