6-2: Controlling for Success-The story of Suncor Energy Inc.

Our class was required to choose one company out of a list of 10, that had successfully persevered through the effects of the recession of 2008-2009. After reviewing the list of well known, highly acclaimed organizations, I was immediately drawn to Suncor Energy Inc., formerly led by CEO Rick George. This leader accepted the role of CEO and President of Suncor in 1991. In 1999 he received the prestigious honor of being named “Outstanding CEO of the Year” due to his success in improving the oil company’s overall business. In 2008 he was accepted into the Canadian Petroleum Hall of Fame (http://www.suncor.com/en/about/889.aspx).

http://www.cbc.ca/news/business/story/2011/02/22/libya-suncor-operations.html

Company Info

Starting in 1967, Suncor Energy Inc. was involved in the development of Canada’s oil sands which boasts one of the most prosperous petroleum sources in the global market. Across Canada, American soil and international waters, Suncor locates, extracts and refines natural gas and oil products from both land and sea. In addition to the market of oil products, the company is also very involved in environmentally friendly renewable resources. The company is currently operating 6 wind power projects which significantly decrease Carbon Dioxide emissions into the environment. (http://www.suncor.com/en/about/164.aspx).

Suncor Energy Inc. hit a bump in the road during the Canadian recession, which saw prices of oil plummet from $147 to $40.00. Suncor felt the effects of the poor economic times. Instead of throwing in the towel, Company CEO Rick George made the decision to purchase Petro-Canada, merging the two companies into a force to be reckoned with. This gutsy move cost Suncor $19 billion dollars. Fortunately, the merger proved successful and the company was able to watch oil prices return to a normal level. The CEO was able to see the great potential in being involved in the oil sands and took notice of the great opportunities before others did (http://www.theglobeandmail.com/globe-investor/suncors-george-an-optimist-who-got-the-big-stuff-right/article4246957/).

After reading various new releases, magazine articles and company website information, it’s no wonder that this company was able to successfully fight off the threatening grip of the Canadian recession. Positive measures of control and organizational practices were instituted to allow for success. Long term growth plans were discussed and planned. These along with responsible development initiatives have placed social, economical and environmental priorities at the forefront.  Suncor believes in high standards in company operations and sets extreme but reachable goals for the members of the company (http://www.suncor.com/en/responsible/302.aspx?linkid=sm3).  Progress controls are used, which keep a very close watch on the impacts associated with the social environment, the economic state of the company and its markets, as well as the environmental footprint and its effects on the country  (http://sustainability.suncor.com/2012/en/performance/performance.aspx).

I think Suncor Energy Inc. is a great example of a company that faced expected ruin, but through great leadership and organizational controls, was able to come out on top.

Thank you for taking the time to read my blog :)

4-2 Sustainable Policies

http://www.goodman.com/sustainability

Over time, more and more customers and employees of corporations around the world are being exposed to the idea of "sustainability". These are varying factors that work to protect and embrace the environment, promote multiculturalism and social awareness, as well as provide a positive economic benefit for a business (George et al, 2010, p.118). The purpose of today's reflection, is to develop 3 polices that represent sustainability ideals and practices for a company. These topics describe corporate initiatives pertaining to the environment, the human factor and the community.

Policy#1-We will reduce harmful emissions created through the use of unnecessary transportation for the organization and for the daily lives of employees

-car pooling is used to reduce the vehicles on the road of all employees. Company vehicles are provided in various sections of the community and gas cards will be distributed to delegated drivers to assist in the costs involved. This will not be sanctioned as mandatory, but users of this service will reap benefits of less mileage driven on their person vehicles and a reduction in fuel expenses.
-Travel to business meetings and company functions will be by bus and vans that are owned and operated by the organization.

Policy #2-We will promote a healthy lifestyle for all staff members through the availability of nutritional and physical councelling services.

-All staff has unlimited access to the corporate gym facility. This service includes the use of all weight and exercise equipment, as well as the use of a personal trainer.

-Employees are given deductions in cost for accessing physiotherapists, chiropractors, massage therapists and diet consultants. These deductions cover the difference between the fees covered by private/group health insurance policies.
-There is an organized running/walking group that participates in activities over lunch hours. All staff is welcome to sign up for regularly scheduled physical activity.
-Only healthy snacks are available for purchase within the walls of the organization. Vending machines will carry organic products and the cafe will carry made in store meals and organic fruits and vegetables.

 

Policy #3- Our promise is to be actively involved in local community volunteer and charity efforts.

-Ensure that all major community fundraisers are attended by at least 2 business representatives.
-This policy involves volunteer efforts by all staff members. There is an organized scheduled which ensures that each employee reaches their volunteer hour quota.
-Each year our company will choose 3 main charities to donate money to.
-Our company will organize 1 large charity event each Christmas which will benefit a local advocacy group.