Joint venture success factors in the petroleum industry (management Essay

Joint venture success factors in the petroleum industry (management side) - Essay Example On the other hand, there were thirteen failure factors that gas and oil managers pointed out. The failure factors include; i. Selecting a suitable business partner. ii. Managerial teams having mixed abilities. iii. The company’s power of negotiation. iv. Gain of foreign technology v. Compatibility of each partners objectives vi. Having a clear understanding of the petroleum sector future dynamics vii. Gaining managerial expertise from foreign partners viii. Cooperation between supply and reinforcement. ix. Export development. x. Sharing risks and profits. xi. International marketing cooperation. xii. Joint venture agreement transparency. xiii. Powers for independent decision making. The success factors that were pointed out by the managers include; i. Corporate cultures importance ii. Production cooperation. iii. Solving of conflicts iv. Export development v. Domestic marketing cooperation. vi. Taking an equal responsibility in management vii. The willingness of the partners f rom Algeria to retain their stake as majority shareholders in the Joint Ventures. viii. Involvement of domestic partners in R & D. ix. International leasing eligibility. The data gathered from all the participants in the form of filled questionnaires were then arranged as tables in the SPSS data files in order to be analyzed through the SPSS processor. In total, four SPPSS data files or tables were composed, out of which one represented the Algerian Managers failure factors, one included the Algerian Managers success factors, one comprised of Foreign Managers failure factors and one consisted of Foreign Managers success factors. Each one of the 4 SPSS data files was analyzed by executing the descriptive analysis, t-test analysis and chi-square analysis with the help of the SPSS software. Subsequent to which, the output data that were generated for each table have been presented in the respective tables in the following sections. The SPSS processor also generated the histogram showin g the distribution of each factor with respect to the normal-distribution-curve. The output data for each section will then be compared to develop the similarities and the differences in the perception of the Algerian managers to that of the foreign managers in relation to the success and failure factors of the international oil and gas joint ventures in Algeria both in the past and in the present. 11.1. Literature Review 11.1.1. Hypothesis Testing A hypothesis, in a research-study, can be defined as an expression that can be subjected to analysis. For answering a statistical question, the question is formulated in the form of a hypothesis. Then the hypothesis is accepted or rejected on the basis of the outcome of the analysis. The hypothesis that is being analyzed or tested is referred as the null hypothesis and is denoted by H0, which has to be a true or false statement. There is an alternative hypothesis denoted by HA for every null hypothesis. In this regard, the development and the assessment of the hypotheses is the most important task however the best way for the hypothesis-construction is not necessarily evident: Priority is given to the null hypothesis and it is accepted until some strong evidence is found or produced against it. If a hypothesis is simpler than the other one then it should be given priority in order to adopt a relatively 'simpler' theory unless adequate evidence is found

Interview Essay Example | Topics and Well Written Essays - 500 words - 8

Interview - Essay Example The room itself had an unmistakable aura of grandeur about it. It was old but that wasn’t the only attribute, something struck me when I realized that these walls had been privy to the conversations of some of the greatest minds the world has ever seen.   ‘Oh crap’ I thought, ‘I actually have to answer this question’. While responding, I realized that even though this was an interview to study economics, the professors were interested to see how well I could synthesize different information from a variety of subjects. In this particular case it was perhaps political science and later in the interview, there was a great deal of mathematics involved. Furthermore, this interview was not the usual question and answer session that I had been used to in school; it was an open ended discussion with the experts. I disagreed with some of their opinions on several economic issues and gave some of my own. The dialogue that the interview entailed was nothing like I had previously encountered and therefore provided me with a distinct intellectual challenge.   In comparison with other experiences which have aided my intellectual development, this interview certainly holds the highest rank. My experiences at Model United Nations conferences were full of dialogue and debate regarding critical issues; the topics of discussion were provided beforehand whereas this interview truly tested my thinking skills and ability to adapt to a completely new situation. Alternatively, the training that the school’s Math team and I are currently partaking for the International Schools Mathematics Teacher’s Foundation (Hague, February 2012), has also been a challenge due to the intensity of our work and the fact that we are forced to synthesize information and topics we have previously seen in regular Math classes. However the interview holds more weight as it involved the synthesis of more than one