ExxonMobil

Strategic Concepts & Mechanics

Signature MoveStiritz: Poker-Player Odds on Back-of-Envelope LBOs

Operating PrincipleBlank Calendar as Competitive Edge

Cornerstone MoveOne-Page Analysis Then Pounce

Signature MoveMalone: Scale as Virtuous Cycle, Tax as Obsession

Cornerstone MoveAnarchic Decentralization, Dictatorial Capital Control

Risk DoctrineInstitutional Imperative as CEO Kryptonite

Decision FrameworkHurdle Rate as Supreme Filter

Signature MoveSingleton: Phone Booth Tender at All-Time-Low Multiples

Cornerstone MoveSuction Hose Buybacks at Maximum Pessimism

Cornerstone MoveCash Flow as True North, Not Reported Earnings

Signature MoveAnders: Sell Your Favorite Division Without Blinking

Identity & CultureEngineers Over MBAs at the Helm

Competitive AdvantageConcentrated Bets Over Diversified Dribbles

Signature MoveMurphy: Leave Something on the Table Then Lever Up

Capital StrategyTax Counsel Before Every Transaction

Operating PrinciplePer-Share Value Not Longest Train

Signature MoveBuffett: Float Flywheel from Insurance to Empire

Strategic PatternGreedy When Others Are Fearful

Competitive AdvantagePioneer Buyer Leverage With Manufacturers

Capital StrategyAsset Rich Cash Poor as Permanent State

Relationship LeveragePersonal Intelligence Network Before Every Meeting

Signature MoveIrish Whiskey and a Handshake to Close

Cornerstone MoveSwallow Competitors Whole When Cash-Poor

Identity & CultureLoyalty Repaid With Loyalty

Decision FrameworkNon-Refundable Deposits as Commitment Theater

Cornerstone MoveTurn Cost Drains Into Cash Machines

Signature MoveScrew the Bankers, Let's Do It

Signature MoveCasting Director Not Operator

Strategic PatternProduction Over Exploration Immunity

Cornerstone MoveDouble the Bet on the Last Roll

Signature MoveCliff-Edge Comfort as Strategic Weapon

Signature MoveKeith Stanford's Briefcase as Survival System

Strategic PatternMonopoly Through Sequential Acquisition

Primary Evidence

"Under the leadership of CEO Rex Tillerson and his curmudgeonly predecessor, Lee Raymond, ExxonMobil has exhibited similar discipline, requiring a minimum 20 percent return on all capital projects. During the recent financial crisis, as energy prices fell, Tillerson and his team were criticized by Wall Street analysts for lowering production levels. They simply refused, however, to pump additional oil from projects with insufficient returns, even if it meant lower near-term profits."

Source:The Outsiders_ Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

"‘Today Baird is president of cuc global operations, dealing with top executives at ExxonMobil, Royal Dutch Shell and other mammoth corporations as well as heads of state throughout Europe, South America and Asia. From her Richmond, B.C., office she manages a team of 350 employees, many of them pilots and engineers g2 . unfamiliar with being directed by a female boss. Yet she commands the respect of everyone who encounters her within and beyond the corporation. Baird’s gratitude to Craig Dobbin for the opportunities and degree of support he gave her deepened through the years. Each time she appeared before the cuc board of directors to report on the activities and prospects of the firm’s global division, she ended her presentation with the statement: “By the way, I love the Chairman.”"

Source:One Hell of a Ride - How Craig Dobbin Built the World's Largest Helicopter Company

Appears In Volumes

The Outsiders_ Eight Unconventional CEOs and Their Radically Rational Blueprint for Success One Hell of a Ride - How Craig Dobbin Built the World's Largest Helicopter Company