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ExxonMobil Mission and Vision Statement Analysis

ExxonMobil Mission and Vision Statement Analysis

ExxonMobil’s history started over 130 years ago as a marketer of kerosene in the United States. Today it is a leading petroleum and petrochemical enterprise, with familiar brand names such as Exxon, Esso, and Mobil.

The Exxon mission statement reads: “Our mission is to provide quality chemical products and services most efficiently and responsibly to generate outstanding customer and shareholder value while remaining committed to the principles of sustainable development.”

exxonmobil mission and vision statement analysis

Table Of Contents

1 Introduction and Company History

2 Vision

3 Core Values

    • Shareholders
    • Customers
    • Employees
    • Communities

4 Slogan

5 References

Introduction And Company History

After the first successful oil drill in Pennsylvania, the famous John D. Rockefeller and his associates started the Standard Oil Company in Ohio in 1870. Standard Oil had significant highlights throughout history, from refining oil to later lubricating Thomas Edison’s first generating system.

The company secured 75% shares in Vacuum Oil, which led to the release of a new range of lubricants, known as Mobil. They also acquired and placed Jersey Standard and the Standard Oil Company of New York (Socony) in their trust.

The first historic flight in history…

Mobil and Jersey fuel were both used by the Wright brothers in 1903 for their first historic flight in North Carolina. Socony secured a kerosene market in China by developing the Mei-foo lamps. The name was chosen as Chinese symbols that translated to “beautiful confidence.”

A supreme court broke the major company apart in 1911, siting that the company was creating a monopoly and a restraint of trade on all things oil. The company was forced to split into 34 smaller companies. To add insult to injury, it appeared as though sales in kerosene were on a downward trend.

Mobil and Jersey Standard were forced to work independently, but would one day be joined again.

Building back up…

It would be some time before a major move is made, as Jersey Standard only acted to expand their territory again in 1919. They did so by acquiring a 50% investment in the Humble oil and refining company from Texas. It was this company that pioneered the method of finding oil with the aid of geologists and paleontologists, by studying microscopic fossils found in samples from drill sites.

Jersey Standard produced the first petrochemical, rubbing alcohol, in 1920. They honored Standard Oil by making use of a phonetic rendition of S and O, creating the fuel brand Esso soon after.

The Green Book

Victor Green created what was known as the “Green Book,” or the “Bible of Black Travel.” This book listed all the establishments where people of color would be welcomed.

Jersey Standard proudly distributed this book via Esso stations and provided business opportunities to black franchisees. The Green Book was circulated from 1936 to 1967 nationwide.

The innovation continues…

Jersey Standard invented butyl in 1937, an artificial rubber still used in many products today. Their investment in Humble paid off, as the company started the commercial production of alkylate. This would lead to the creation of iso-octane, a blending agent to be used in 100 octane aviation fuel.

Jersey Standard went on to create a process known as “the four horsemen”, and was quoted to reach the “most revolutionary chemical-engineering achievement of the last 50 years.” This would become the gasoline production standard method.

Caring about education too…

More innovations would appear, such as the first multi-grade oil. Their dedication to technological advancement led to the Esso Education Foundation, which granted funding to educational institutions. Around 1959, the company started using the famous slogan, “Put a tiger in your tank.”

Humble invented the 3D seismic technology that revolutionized the way oil and gas were located in 1963, which significantly reduced costs.

Name Changes And A New Era

The Mobil brand changed its name to Mobil Oil Corporation, in celebration of the Vacuum Oil Company’s centennial birthday in 1966. Jersey Standard changed their name to Exxon Corporation a few years later.

In 1982, Exxon celebrated its first 100 years since the Standard Oil Trust was formed. The company has evolved to become a multinational company once again and continued to thrust forward with modern technology. They soon invented a 3D imaging method known as microtomography.

Modern 3D imaging method…

This allows surveyors to study the internal components of opaque items without having to destroy or damage them. This technology is still used today, to examine patients to spot internal issues or perhaps take a look at historical items that should not be opened or disturbed.

Exxon then introduced Exxpol, a catalyst that would result in the production of tougher plastics and rubber that had less off-taste and odor. Imagine if your water bottle had the aftertaste of plastic with every sip. Thankfully, this invention counteracts it.

exxonmobil mission and the vision statement analysis

The Final Merger

Exxon and Mobil finally joined as Exxon Mobil Corporation, with the statement, “This merger will enhance our ability to be an effective global competitor in a volatile world economy and in an industry that is more and more competitive.” The merge was completed in November of 1999.

ExxonMobil continued its research and found proprietary methods that would remove 95% of sulfur from gasoline. They also partnered with Stanford University in efforts to reduce their carbon footprint.

New millennium, new corporate social responsibilities…

In an attempt to encourage more children to take part in sciences and math, they started the Mickelson ExxonMobil Teachers academy with Phil and Amy Mickelson. In 2008, the company donated hundreds of thousands of bed nets to curb malaria outbreaks in Angola.

The next year, they opened a greenhouse facility to research algae-based biofuels, which led to a breakthrough in 2017. An algae strain was successfully modified to double its oil content.

Not quite eco-friendly, unfortunately…

In 2016, reverse osmosis tech was developed to reduce greenhouse gas emissions. ExxonMobil launched ExxonMobil Low Carbon Solutions as a new business to focus on achieving a carbon-neutral status in 2021.

Unfortunately, these philanthropic endeavors did not hinder further developments of deep drills in Russia, the development of a gas field in Qatar, or the deep-water drills in the Gulf of Mexico.

Name Exxon Mobil Corporation, stylized as ExxonMobil
Industries served Petroleum Refining
Geographic areas served Worldwide
Headquarters Irving, Texas
Current CEO (2023) Darren W. Woods
Revenue $ 181 Billion (Fortune 500)
Profit $ 22 Billion (Fortune 500)
Employees 72,000

Vision

The Exxon vision statement reads: “Exxon Mobil Corporation is committed to being the world’s premier petroleum and chemical manufacturing company.”

Core Values

To achieve their vision, Exxon’s core values state, “We must continuously achieve superior financial and operating results while adhering to high ethical standards.”

Shareholders

The company strives to increase the value of its shareholder’s investments and promises to handle it with care and accountability. The goal is to achieve the best possible return on these investments.

Customers

As seen during the pandemic, customer needs can change dramatically in a short period. ExxonMobil aims to meet these demands and offer high-quality products and services at competitive prices.

Employees

ExxonMobil invests in a qualified, educated workforce with continuous training and development. They are committed to embracing diversity and treating their staff fairly.

Communities

ExxonMobil is very aware of its impact on the environment and how its business may affect the world. They promise to conduct business ethically, to follow the letter of the law, and to respect the communities they interact with. The company recognizes the need to reform and promote sustainable practices, to educate and to uplift, for the sake of the earth and all who live on it.

Slogan

As mentioned, their most famous tagline hailed “Put a tiger in your tank.” However, since the merge and creation of their new identity, the tagline “Energy lives here” is used for most of their campaigns.

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Lastly, we found a few awesome Exxon vintage signs; check out the Ylens Exxon Gas Gasoline Vintage Look Garage Motor Retro Rustic Wall Decor Metal Tin Sign as well as the Tinworld Tin Sign Exxon Rusty Rustic Retro Gas Oil Metal Sign Decor Auto Shop Garage, both available online in 2023.

Final Thoughts

Exxon and affiliated companies are still leading petroleum and petrochemical enterprises.

As the pandemic hit in 2020, ExxonMobil maximized production of all their products used in sanitizer and protective clothing. Although this did not guarantee exceptional profits, the company still made huge efforts to donate medical-grade sanitizer to aid in the response to the global health crisis. The company suffered huge losses in profit due to the fuel demand drop, as global travel came to a screeching halt.

As can be seen from this analysis, ExxonMobil is very aware of its impact on the environment and how its business may affect the world. We hope they manage to keep up these values for our future.

Good luck and all the best with starting a new career at Exxon!

References

ExxonMobil Website

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