As anybody who has interacted with Exxon can attest, it is one of the most well-run enterprises in the world. It has a near-maniacal focus on discipline, especially in capital allocation, safety systems, and operational execution. While critics contend the same culture is rigid, top-down, and slow to adapt, few can argue with Exxon’s long-term success. At the time of this writing, its market capitalization is north of $570 billion. It sports what many call a fortress balance sheet, and it holds ownership interests in several of the most lucrative hydrocarbon resources in production today. Internally, there is a hardwired belief that the company’s culture is directly responsible for this success, and preserving it is the first and most important task of its leaders.
Quelle: A Brief History of Times
