When the oil runs out: It's the service that counts

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

The Norwegian Geological Survey of 1958 reported that the probability of discovering exploitable oil reserves on the Continental Shelf off Norway was negligible. Despite that unpromising start to Norwegian North Sea oil exploration, major oil fields were discovered in the North Sea during the 1960s and oil production commenced in 1971. However extracting North Sea oil has always been a difficult and dangerous business and full exploitation was not really considered feasible until the 1973 oil crisis followed by price instability in the 1980s encouraged the five North Sea oil producing countries to find more effective methods of exploiting their oil reserves.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2007), "When the oil runs out: It's the service that counts", Strategic Direction, Vol. 23 No. 1, pp. 23-25. https://doi.org/10.1108/02580540710716563