Strayer BUS 508 Week 3 Assignment Production and Operations Management Marathon Oil
The Strayer MBA program prepares students for careers in business from a holistic perspective. As such, it is important to understand the interrelationship between our physical environment and how it is impacted by business processes. The worst oil disaster in US history began in April 2010. Its effects on the environment will remain unknown for decades to come. This assignment explores the process of converting crude oil to consumer fuels, such as gasoline for transportation. Required:
- View the video: The Time it Takes to Provide America’s Transportation Fuels at http://www.marathonpetroleum.com/the_time_it_takes/index.htm
- Read the corporate profile of Marathon Oil at http://www.marathon.com/ You are to write a five to six (5-6) page report that answers the following:
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- Explain one possible option that Marathon could take to reduce the time involved in the production process.
- Discuss the relationship between the retail price of gasoline and the price of crude oil.
- Explain what Marathon could do to keep the price at the pump the same without losing profits if the price of crude increased by 10%.
- In June 2010, President Obama imposed a six-month deepwater drilling moratorium. If the US government prohibits deepwater drilling off the US coast, discuss how the US oil companies can remain competitive in the US market when over 35% of crude oil is currently sourced from domestic deepwater drilling.