Operational Excellence is a volatile and dynamic phenomenon being adopted by organizations to build profitable and satisfying growth inclined. Operational excellence is a philosophy that can be achieved and maintained consistently only by continuous improvisation and it allows organizations to have a cutting-edge advantage in highly volatile and frequently changing competitive environments in terms of business.
Operational excellence mainly deals with bringing excellence in all aspects of the business including maintaining transparency and corporate governance etc. The main and core objective of operational excellence is to maintain quality, effectively utilize resources, reduce wastage and reduce defectives, accidents, etc., and build a profitable organization.
The energy sector is the sector that is playing a major role in GDP and economy across the globe and even in India, there are many private and government undertaking players who are in the energy sector. In the Indian context, the oil and gas reserves and the players in the segment, and their contribution towards the economy, etc need to be considered.
The main objective of choosing the topic for research is, there are many challenges being faced by government undertaking organizations to cope with operational excellence which is leading to frequent accidents and blowouts leaving many dead and many more severely Injured where Private organizations are far ahead in these concepts. They were able o bag new contracts.
Main Objective of this Research
- To identify gaps in achieving operational excellence.
- To develop a framework to highlight the operational excellence to the top and senior management on how to benefit by achieving operational excellence.
- To disseminate the view that the use of traditional brick-and-mortar models with new technologies can create better results in terms of Achieving Operational Excellence.
- To establish the need for human capital management and Human Resource Business Partnering to achieve competitive advantage in getting operational excellence.
- To highlight the various tools and technologies available for the Oil and gas sectors to improvise quality and attain operational excellence.
Secondary Objective of this Research
To understand the roles of Management, leadership team, and Internal and external associates in achieving operational excellence.
- To know about tools like Khaizen, Poka Yoke, TQM and Six Sigma, etc.
- The scope of understanding the theories like 5M, 5S, 6 Level Models, etc.
- To study about Components and metrics of Operational excellence and how it leads organizations to build profitable and highly sustainable in competitive environments.
Operational Excellence draws most of the big companies into the Increase in Profitability and productivity, since the big multinational companies are well established financially, popularly, technologically, and with high expertise. They tend to put tremendous pressure on medium-sized and government oil and gas sector firms. Since small and medium-sized firms lack the financial, technological, and expertise backing they tend to suffer in the operational competence and their survival becomes very thin.
And furthermore, India has great scope in its market size, which attracts all the world’s biggest players into the completion of the excavation, digging, and distribution. The research will be carried out in government and private sector oil digging companies and the responses and limitations and the data validity are crucial aspects that need to be concentrated and point of major focus.