ExxonMobil’s business and corporate advancements are founded on sound technological systems and processes. One of the authors and close analysts of the company revealed that: The alignment between technology and business goals was best exemplified in the 1980s and early 1990s, when Exxon became one of the first companies to implement enterprise resource planning software from SAP on a global basis. It recognized that efficiencies could be gained using a system that could standardize and integrate global operations, even though the scale of the task was frightening by any standard (Duvall 2006).
ExxonMobil is well known for its universal standardization strategy when it comes to the technology it uses. Once the company decides on the technology they will use, the applications they will employ for their management systems, it employs a top-down strategy and the same application and technology is rolled out in its worldwide offices. Research and development are key and critical areas of concentration for the company in the technological advancements.
“In fact, Exxon says a system called Fast Drill Process unveiled in 2005, which uses sensors placed behind the drill bit to measure factors such as weight on the bit, rotary speed and torque, has allowed the company to
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The company picks the people who they deem will use the finished application and system products and sends them to the research and development stations or laboratories where they then assist in writing the application code. This, in return, ensures that the finished applications are user friendly and usable on the desktop back at their respective departments. This is one of the corporate level strategies employed by the company to ensure their universal operational and technological systems are competitive in the industry and custom to the company’s corporate line of business.
In every aspect ensuring cost effectiveness in the research, development and use of the developed applications is the main focus of the company. Initially, exploration done by most companies in the oil exploration process only analyzed the surfaces and started drilling for oil and gas with the speculation of the returns or level of potential the drilled site could offer.
Since most of the wells marked as potential oil and gas sources were shallow, most companies that went on to drill only played with luck to succeed in finding the resources and the probability of drilling dry wells before finding a resourceful one could be as high as 1 out of 10. With advancements in the technological sector this could then improve with time. The first major revolution came in the early 1930s when oil and energy companies started employing sound waves to identify the geology below the surface better.
When Exxon advanced technologically in 1967, it enhanced the image by shooting the first 3D seismic analysis of an oilfield near Houston. Developments were then made by IBM in 1964, with the introduction of the 360 line of mainframes. This then provided Exxon with the computing supremacy to produce 3D images, otherwise referred to as three-dimensional images of the subsurface. Computing advancements and the use of algorithms to analyze and understand the seismic data have, to the highest degree, enhanced the level of detail and precision of the images created by the 3D applications.