Business Improvement Initiative
In late 2008, the company undertook a Business Improvement Initiative (BII) to address the changing marketplace due to energy bill requirements, crude oil production and cost challenges, and product demand changes. The BII focused on re-evaluating Sunoco’s portfolio of assets, strategic direction, business process improvements, and having a more competitive cost structure in a lower profit margin environment.
McKinsey, Inc., a management consulting firm advising leading companies on issues of strategy, organization, and operation was hired to analyze and reduce the company’s cost structure. Implementation of the identified improvements began in early-2009 with the centralization of a number of functions.
A second part of the Business Improvement Initiative was a survey to gain insight on how employees viewed the company. A large number of employees responded to the survey, commenting on:
- Alignment of employees’ views with the company’s vision, strategy and values;
- Execution of our vision, strategy and values; and
- Renewal – creating growth, innovation, learning and value.
The results showed many the company has numerous strengths and identified several areas where we can continue to grow and improve. Senior management is currently developing communication of the company vision, creating an action-oriented culture, and developing employees, making Sunoco an even better stronger place to work.
We feel that these and other changes to come will better prepare the company to address the challenges that will face our industry and our company in the years ahead. |
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