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

Khalid Hafeez, Pantea Foroudi, Bang Nguyen

Research output: Contribution to journalArticle

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 statusAccepted/In press - 24 Apr 2018

Fingerprint

Oil industry
Integrated
Evaluation
Core competence
Portfolio management
Core competencies
Oil
Resource-based theory
Partnering
Research and development management
Network topology
Performance management
Purchasing
Management capability
Marketing
Resources
Alliances
Strategic alliances
Structured interview

Cite this

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An integrated core competence evaluation framework for portfolio management in the oil industry. / Hafeez, Khalid; Foroudi, Pantea; Nguyen, Bang.

In: International Journal of Management and Decision Making, Vol. 18, No. 3, 24.04.2018, p. 229-256.

Research output: Contribution to journalArticle

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