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

Author

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  • Khalid Hafeez
  • Pantea Foroudi
  • Bang Nguyen

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.

Suggested Citation

  • Khalid Hafeez & Pantea Foroudi & Bang Nguyen, 2019. "An integrated core competence evaluation framework for portfolio management in the oil industry," International Journal of Management and Decision Making, Inderscience Enterprises Ltd, vol. 18(3), pages 229-256.
    • Handle: RePEc:ids:ijmdma:v:18:y:2019:i:3:p:229-256
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    Cited by:

    1. Sudharshan Reddy Paramati & Md Samsul Alam & Shawkat Hammoudeh & Khalid Hafeez, 2021. "Long‐run relationship between R&D investment and environmental sustainability: Evidence from the European Union member countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5775-5792, October.

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