An integrated core competence evaluation framework for portfolio management in the oil industry

Khalid Hafeez, Pantea Foroudi, Bang Nguyen

Research output: Contribution to journalArticle

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Abstract

Drawing upon resource-based theory, this paper presents a core competence evaluation framework for managing the competence portfolio of an oil company. It introduces a network typology to illustrate how to form different types of strategic alliance relations with partnering firms to manage and grow the competence portfolio. A framework is tested using a case study approach involving face-to-face structured interviews. We identified purchasing, refining and sales and marketing as strong candidates to be the core competencies. However, despite the company's core business of refining oil, the core competencies were identified to be their research and development and performance management (PM) capabilities. We further provide a procedure to determine different kinds of physical, intellectual and cultural resources making a dominant impact on company's competence portfolio. In addition, we provide a comprehensive set of guidelines on how to develop core competence further by forging a partnership alliance choosing an appropriate network topology.
Original languageEnglish
Pages (from-to)229-256
Number of pages31
JournalInternational Journal of Management and Decision Making
Volume18
Issue number3
DOIs
Publication statusPublished - 3 Apr 2019

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