A fortune five hundred company is defined as “an annual list of the 500 largest industrial corporations in the U. S. , published by Fortune magazine. The corporations are ranked based on such metrics as revenues, profits, and market value. ” (2011) Exxon Mobile has been declared the number one fortune five hundred company in the world in 2008. In 2007 Exxon Mobile was ranked number two but recently with its new improvements and massive revenue it has taken in throughout the year, it has reclaimed its spot as number one.
Receiving the status as the number one fortune five hundred company is a great honor and will actually bring this company even more business then it is already receiving. It is very difficult to compete and stay among the top ranks of fortune five hundred companies. Exxon Mobile has proved that they are truly a great business and will maintain their reputation as one of the most profitable companies in the world. In business there are four main components that companies try to stand by.
The first component states that a business must make sure that their company is bringing in money and profit.
Exxon Mobile is doing an excellent job of maintaining and progressing with the first component of business. This company is bringing in millions to even billions of dollars each year. As we can see in the year 2007 they were ranked number two and in the year 2008 Fortune Magazine ranked them number one. This proves that this company is following the business components and improving each and every year. By bringing in more profits and revenue there company is prospering and becoming more known than it already is. The second component of business is to make sure that your company is making a difference.
Exxon Mobile is making a difference in a number of different ways. As a business rated so highly by a reputable magazine Exxon Mobile is becoming a role model in a way. Other organization are learning and understanding what Exxon Mobile is doing as an organization and they are trying to mimic this so they to can have the same success. The difference that Exxon Mobile is making is huge in the business world. Companies all over the world will study and research Exxon Mobile because of how well they are doing each year as an organization.
Another difference that this company is making in the world is that it provides gas to consumers and other products. Allowing consumers to use their business to fill their tanks of with gas is making a difference because people respect and need Exxon Mobile in many ways. Therefore according to the four business components we can see that Exxon Mobile is perfecting at least two of these components already. The third business component states that your organization should allow you to be yourself. Exxon Mobile produces quality employees and strives for them to act and be their best.
This company allows employees to be themselves and constantly grow within the business. They want and hope that the employees they hire follow all of the guidelines to how they run their business but they also want the employees to bring creativity to work with them. Challenges and new ideas are very important to Exxon Mobile, employees have the opportunity be promoted by overcoming things such as these challenges and also if they can bring new ideas and perspectives to this business. The fourth component of business focuses on having a higher power to make sure you have help.
An example of this would be an executive director, corporate manager or any higher position that is constantly helping your organization. These higher positions can focus on things such as making changes if needed, researching statistics and data from previous years, and also help out completely with finances. Exxon Mobile is an enormous company and it is very important that they stay on top of all the information they need each and every year. This company excels in this area because they constantly research and adapt to make improvements.
By having members of higher positions research statistics and compare and contrast data, improvements can be made and more revenue can be brought in each year. Understanding where money is spent or brought in is exceptionally important. By understanding how to handle this aspect of business different strategies can be built around this area of knowledge. Once new strategies and techniques for improving business come into play Exxon Mobile quickly takes actions and starts working hard with the new ideas at hand. In conclusion Exxon Mobile is one of the most profitable companies in the world.
The fortune five hundred magazine has rated them as number one and has allowed them to regain their title. This company strives for perfection each and every year that is exactly what they do. The company is always focusing on bringing in more money each year to help improve the business. New strategies and ideas are focused on by higher positions and executed by the employees throughout the year. This company has become known worldwide and a true business model for other companies to mimic. Exxon Mobile has made a significant difference in not only the consumer’s world but the business world as well.
Providing products such as gasoline has attracted millions of people to their organization, and the way they handle business amongst the public is obviously perfectly done. The reputation of this company has not only been created by producing great products and bringing in large amounts of revenue but it also has provided employees the opportunity to be themselves and have advancement opportunities. This company has followed the four components of the business model perfectly and it has shown by being claimed the number one fortune five hundred company in the year of 2008.
Cite this Exxon Mobile the Number One Fortune 500 Company
Exxon Mobile the Number One Fortune 500 Company. (2017, Mar 22). Retrieved from https://graduateway.com/exxon-mobile-the-number-one-fortune-500-company/