The fundamental problem is Chevron management has lost sight of the technical competence needed to be successful in this business, across the whole enterprise. If you have no idea what it takes to plan success, cost cutting is the only action that seems to have impact. Unfortunately this leads to exploration teams that can not find oil, huge cost overruns by development teams, and M&A teams that can't correctly value targets and time acquisitions. Doing misguided, unproductive, incompetent work faster and cheaper is not the road to our future success.
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This is what happens when leadership spends 2-3 years in a role before moving up the next rung. It’s the living demonstration of Dunning-Kruger
The issue is lack of clear vision. They talk fancy but have no new idea or risk tolerance to take bold decisions, all they have is to copy others few years later,or focus on non value initiatives instead of going big on exploration,and buying big fish. With those mindset nothing important will happen, they will be dead last like the past 4 years.
Most senior leaders have reached up top by playing a loyalty card and kissing up to their bosses. This lead to incompetent workforce.
Many of the problems are caused by the enablers promoted by management to be used as their human airbags. Greedy, short sighted and terrified to give an honest opinion. When such people are used as your gatekeepers little wonder the hinges are rusted.
Unfortunately building competence across an organization is a slow process that requires planning and long-term commitment. Management incentives reward a short-term focus and rapid execution. This disconnect between short-term reward and long-term success is a problem for all large corporations in most industries. It is the highest level management and corporate board that is tasked with having the longer-term vision of our mission to keep the ship on course. It matters little how hard folks work in the boiler room if those on the bridge are asleep at the wheel.
In 2020, Managements assessment of the value of experience, performance and technical abilities was clearly demonstrated. Unfortunately the people that made that assessment and their less then 10 year non industry BCG advisors still don't comprehend the damage they have done. Mike - the Kodak ghost is coming your way.
Well said. This ELT needs an en--a.
You just described MW's career.