Strategic Decision-Making Process Assessment

Subject Name : Management

The Key Drivers

Occupational safety and wellness is the effort to guarantee that workers perform at an excellent level in all vocations, to maintain, to guarantee that they work in an environment that is appropriate for their abilities, and to supply top quality, sound workers. Although the employees' risk may be important, profitability, decreased rivalry, and increased revenue for the Consequently, the employer is immediately impacted. Unwanted occurrences are identified early on and averted when dangers and risks are decreased. the rapid speed of global economic and trade liberalisation, technical advancement, the issue of occupational sickness and collisions, and about output. The business is devoted to the energy industry's prosperity and greatness through a reward for top-performing staff members, sections.

The Competencies (Strengths) and Competitive Advantage

A disagreement exists between the demands of personnel and the company's goals of enhancing productivity and effectiveness. To look at the impact of reporting on wellness and security Approaches for Functional Level Staff Participation in Ceylon Petroleum Corporation in Sri Lanka. To learn more about how the employment environment affects operational-level workers' participation in the workplace in Sri Lanka's Colombo Petroleum Authority. Engagement of employees, The self-determined hypothesis, human conduct, and innate affinity, drive, and mental state has an effect on participation. Training will motivate staff to produce more. and make the workplace safer overall. education is as a means to enhance productivity and the working conditions within the firm, at all levels.

The educational material must cover the specific guidelines for health and safety in addition to providing the fundamental medical and security knowledge. Supervisors' the Occupational Health and knowledge is seen as a critical factor in improving safety and a decrease in injuries. Those in charge are completely who prioritise safety and can identify issues aggressively protect employees from harmful Results in terms of health can reduce the likelihood of injury. Positive results for safeguarding against injuries in the Since they don't always promote the internalisation of safe mindsets, they are only likely to be helpful in a brief amount of time. Responsible behaviour consists of three elements: initial, the understanding of safe operation; second, the tools operating safely; and finally, the motivation to do so. Responsible behaviour consists of three elements. The whole of the forces, activities, and other influencing factors that are present or may become part of the place of employment. competing with the actions and output of the employee. Notwithstanding the discussion and increasing enthusiasm, there is presently no agreed-upon definition of staff involvement, which is rife with contradictions and conflicting ideas(Aulia et al., 2020). The term "worker commitment" was first used. The total of the working environment's employee ties, including those between them and the setting for work. First, commitment the secret to a company's prosperity and edge over others is organisation. Additionally, suggested that businesses with Higher shareholder returns are associated with engaged staff, consumer happiness, economic viability, and productivity. The mathematical model of structural equations showed that The benefits of workplace security and health mental, interpersonal, and emotional involvement.

Sri Lankan Operating Environment (Macro and Micro)

In Sri Lanka, both the parliamentary and ammunition branches of the judiciary share responsibility for governance, which is governed by guiding principles. With the executive branch shaping state-market interactions, the infiltration of destabilising ideology into the procedure of formulating policies has gotten worse more lately. The state will act as the intermediary or regulator, and the marketplace will act as the the state still possesses what can be called a "inefficiently overwhelming" economic motor. availability in the economy. The adoption of safeguarding consumers laws was also accomplished through the 1979 Customer Protection Act (CPA). The CPA funded the establishment of the To control internal commerce and create fair dealing, the Division of Domestic commerce (DIT)

This Bill's explicit purpose is to establish a Department of Consumer Relations and equitable trading Agency. A noteworthy change in the revised Bill is the clause saying The only circumstances under which the Minister may dismiss the board's President along with members are certain conditions. Any product that the minister of industry and customer services deems "essential" may be designated as a "specified object" with the approval of the minister of finance. Public interest factors include preserving and fostering successful competition between providers of products and services, advancing customer preferences in terms of price, quality, and variety of goods and services, and encouraging, through rivalry, lowering costs, advancement of new techniques, and so on.

The FTC's mandate that all transactions involving purchases and acquisitions be reported to them seems to strain the market authority's manpower and financial assets excessively. However, in practise, adherence to the pre-notification obligation is typical. Sri Lankan. Such actions are considered occurrences in law. where a person engages in commercial activity and follows a course of action that has or is likely to possess the ability to hinder, distort, or hinder trade. the ability to look into special offers, exclusionary discounts, and exploitative pricing, and that it could only Analyse exclusive rights mergers, and other unlawful behaviour. Macroeconomic studies are all comprehensive. Financial indicators and variables that impact the economy. Employing macroeconomic frameworks are oil and gas businesses. in order to create their economic. An examination of the literature reveals mostly linear correlations between government expenditures and development in the economy, although Giavazzi, Jappelli and Pagano demonstrated a favourable connection between public spending and economic expansion. Mixed findings were found in several research. petroleum from Sri Lanka In the year 2018, shipments increased to 4,959 million metric tonnes, up from 2,396. in 2008, thousand metric tonnes. An individual wants to Automobile purchases might be a result of rising incomes, selfish motives, or societal emulation. any or all of these elements have helped to fuel the rise of interest for autos. It resulted in increased rate of exchange ultimately had an impact on imports due to imported goods became extremely pricey, causing massive inflation. Supply worldwide crude oil market interruptions, followed by increasing costs for items made from refined energy sources.

The Position of the Company within Its Primary Sri Lankan Sector in Relation to its Competitors

We believe that a supply restricted model is suited for Sri Lanka since it takes increases in oil demand as an indicator of oil availability to attempt to develop methods to accomplish these goals. growth. Romer created this growth in economics hypothesis together with It relies on external technological development. population expansion and financial growth. This idea relates the quantity of people to the emergence of fresh ideas employed within the field of knowledge. Creative ideas empower mankind Alternatively, generating consistent good may help to reduce growing budgetary strain. policy to address the debt problem. These political choices were based on current petrol and oil consumption. This will assist in increase in state debt and decrease in shortfall, which enables pricing to be highly variable in addition to a financial situation crisis. As problems specific to the petroleum and gas sector, they provide long-term ambiguity and will continue to be a significant obstacle to the achievement of any macroeconomic strategy intended to generate measurable economic development. The aforementioned data shows that a greater number of liquefied petroleum sellers do not make an attempt to gather intelligence from clients and rivals. Regarding high category, all LPG retailers receive a rating of 0. This uncomfortable climate is further supported by the median and mean readings(Yulhar et al., 2019). The extent to which LPG dealers work to share information with their workers and other associated individuals is shown in the following column. Comparatively speaking, the fairly market-oriented group is similarly in a bad spot. Parametric statistical calculations done in relation to observations are shown in the remainder of the table. Seismic the Mannar Basin has, as evidenced by portions, The slopes and other geological features that are faults required for the buildup of petroleum. Several socioeconomic factors, both immediate and intangible Petroleum will be beneficial to Sri Lanka. industry. Crude Conditions of Sale The Source Arrangement is written such that the country might take full advantage of the industry. Cairn must begin exploratory efforts within six months after the discovery license's issue date that they received in October 2008 as an collaboration award form of agreement. Terms of this Agreement control all petroleum-related activity investigation and progress and production. The corporation must adhere to all acknowledged worldwide standards for the contemporary oil and gas sector when conducting exploration. practises. The business must make the required measures to reduce environmental harm as a result, the Profit Petroleum's part of the government increases. Rate of earnings share in comparison to a specific value range Funding Multiple is a condition that can be bid upon. yearly predetermined sum to the fund. The worth of Fixed sum will change depending on research and development. and the times of manufacturing. the Ecological Fund be employed by the authorities to aid.

References

Khan, S. E. (2020). The New Geopolitical Reality in the Bay of Bengal: Implications of Competition and Cooperation on Bangladesh-Sri Lanka Bilateral Relations. DEFENCE, 71. https://www.inss.lk/assets/images/publication/other/images/2021/january/2021_01_27/Defence Review_compressed.pdf#page=80 Cillari, A., Stephens, S., & Werner, A. (2021). Best practice in license allocation in the oil and gas industry: A review of five countries. Resources Policy, 74, 102296. https://www.sciencedirect.com/science/article/pii/S0301420721003068 Aulia, A. N., Chasanah, N., Prasetyo, A. S., & Nalawati, A. N. (2020). Competitiveness and Export Similarity of Indonesia's Coconut Oil. Jurnal Agribest, 4(2), 123-132. https://www.academia.edu/download/71963912/pdf.pdf Yulhar, T. F. M., & Darwanto, D. H. (2019). Competitiveness of Indonesian crude coconut oil export in destination countries. Agro Ekonomi, 30(2).https://journal.ugm.ac.id/jae/article/view/49014

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