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SINOPEC PETROCHEMICAL COMPANY BUSINESS PROPOSAL
SINOPEC PETROCHEMICAL COMPANY BUSINESS PROPOSAL
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Sinopec Petrochemical Company Business Proposal
Introduction
This paper offers a proposal for a Sinopec Petrochemical Company. The Petrochemical sector has flourished in locations with an entrepreneurial organizational structure, confident backing from major petroleum and chemical investors, and a history of successfully developing new developments. The Company’s goal is to discover new ways to distribute and supply basic commodities that are essential to modern use. Results from the global market study show that Petrochemical companies are still at high risk from technological competition. Due to the rising demand for Petrochemical research and supply, the Petrochemical business has emerged as one of the most promising areas for investment in the 21st century. The proposal describes the organization’s industry, purpose, and staff size; how the Company will benefit from an internal coaching culture; the competencies that should be required from an internal coach; and the strategy for developing the internal coaches (Ciporean, 2015, p.7). Also included in the proposal is a plan for training and advancing the in-house coaching staff. The proposal also includes a breakdown of the estimated costs of implementing internal coaching and a strategy for dealing with potential ethical or diversity issues. These are some of the additional subjects covered.
Organizational Structure
Business Sector
Many scientific fields are under pressure to research and develop new technology and innovations to combat the emergence of resistant strains of Petrochemical products and pieces of machinery affecting and impeding today’s population. Numerous developments in the industrial and technological fields can be attributed to this phenomenon. Many more people are speaking up about dealing with petroleum issues in nearly every part of the globe. Back in the day, the quantity and diversity of Petrochemical effects outbreaks worldwide increased dramatically. Researchers de Haan (2019, p.8) have found evidence to support this claim. Therefore, there is an urgent need to enter the petrochemical profession and lend a hand in discovering, developing, and manufacturing plastics, fertilizers, packaging, clothing, digital devices, medical equipment, detergents, tires, and medications that can aid in the battle against the increasing number of health problems and basic human needs. The shortage of essential petrochemicals has the most significant impact on people living in urban and sub-urban areas. Because of this, corporate productivity suffers.
Opening a petrochemical company will not only solve the problem by providing petrochemical products with better access to what humans need, but it will also allow them to get back to work with good and stable standards. As a result, the petrochemical industry will grow substantially as a licensed commercial enterprise engaged in plastics, fertilizers, packaging, clothing, digital devices, medical equipment, detergents, and tires. The petrochemical firm believes it can successfully launch new products to the market since it has several in various research and production phases.
The raw materials and by-products are the active compounds the business hopes to use to develop preventative technological competition for emerging markets using the global analysis platform. They also provide medical equipment for managing different treatment processes and treating various neurological diseases (de Haan, 2019, p.8). A wider population of people with moderate to high living standards will be interested in the potential commercialization of these improvements, given that the bulk of these petrochemicals is in the third or fourth phase of their petrochemical studies. The company intends to collaborate with other organizations, including Rutgers University, Massachusetts University, Yale University, and Saudi Aramco.
Company Mission
The Company’s mission is to inform the public and other businesses about the importance of creating a petrochemical firm that cares about its clients’ social standards and then to collaborate with those groups to make it happen. The corporation would act to open up avenues for the mass production and distribution of petrochemical products to countries worldwide and donations to third-world nations.
Staff Size
The petrochemical company will typically run as a corporation rather than an independent business. A hierarchy of executive committees and a Board of Directors govern the internal operations of these organizations. These groups will make crucial decisions and keep an eye on how those decisions are carried out inside the business. Petrochemical companies work with other organizations and enterprises through relationships, collaborations, and agreements. Any independent Chairman serves as the head of the Board of Directors and is in charge of calling meetings and presiding over agendas submitted by the entire directorate. In this structure, authority and responsibility are separated. The Company will employ more than 2000 workers in various manufacturing depots and warehouses.
Ways The Company Will Benefit from An Internal Coaching Culture
The petrochemical firm recognizes the importance of developing an internal coaching culture to ensure success in reaching its objective. Adopting this culture is expected to have numerous positive effects on the business. To begin, the Company’s established tradition of mentoring employees bodes well for the growth of future leaders (Ciporen, 2015, p.7). Therefore, the petrochemical business may take advantage of this benefit by introducing an internal coaching program.
Internal coaching has the added benefit of giving the Company a more resilient workforce. Administrators who stay in their positions for extended periods and take on new tasks, such as coaching, are more resilient and remain in their positions for longer. Moreover, the business will save time and money on training by adopting a coaching culture (de Haan, 2019, p.8). An advantage of internal coaching over external coaching is that it can be performed more rapidly and at a reduced overall cost. Also, let us pretend the petrochemical firm adopts a coaching culture within the workplace. In such a case, it can take advantage of easily accessible coaches and relish the fact that those coaches are well-versed in the customs of the Company. The coaching sessions will positively affect the Company and help organize large-scale projects. Given these benefits of internal coaching over external coaching, I believe the Company will be well-positioned to reap all of the above advantages.
The competencies the Company will require from an internal coach.
For the advantages mentioned earlier of internal coaching to accrue to the Company, the internal coaches must possess the necessary skills and knowledge. Because of this, the Company’s internal coaches must possess all eleven coaching competencies recognized by the International Labor Organization. The coaches must be able to establish the coaching agreement and be held to specific ethical and professional standards before the process can begin. As a result of having these two skill sets, the coaches will be able to build a good coaching foundation (de Haan, 2019, p.7). As an added requirement, in-house coaches will need to be able to build rapport with their clients and remain there throughout all coaching sessions. Maintaining an open, flexible, and safe approach while cultivating authentic, self-aware, and spontaneous encounters with clients is essential to having a coaching presence.
It has been found that internal coaches who possess these two traits are better able to co-create connections with their coached individuals. Internal coaches will also need strong, active listening skills, the ability to ask insightful questions, and the willingness to encourage an open conversation to ensure effective communication. The last four sets of skills required of internal coaches include the ability to raise consciousness, create practical activities, map out a course of action to achieve desired outcomes, and take responsibility for results. These characteristics will help the coaching sessions go more smoothly and produce better results.
Plan To Address Ethical and Diversity Issues That Could Arise from Internal Coaching
Every facet of coaching needs to change to accommodate the ever-evolving trends that drive the market. As a result, training practices and information may become obsolete over time. The Company’s internal coaches will be provided with a roadmap for growth to ensure they are prepared to adapt to the ever-changing petrochemical services market (DiGirolamo & Tkach, 2019, p.12). To begin, the Company is going to send internal coaches to various seminars so that they can maintain their education. To make it easier for the internal coaches to keep up with the latest developments in the field, a conference or workshop tailored to their needs will be held at least twice yearly.
The coaches will be able to hone their craft by participating in seminars and conferences where they may network with and learn from coaches from a wide range of businesses. In addition, we will be hiring a coach to help our in-house trainers hone their craft and grow as educators (DiGirolamo & Tkach, 2019, p.12). It is important to remember that just because someone is a coach does not mean they know everything; all coaches may benefit from having someone train them. These trainers will be responsible for instructing all of the Company’s current coaches in the coaching methods that have recently been established.
Plan To Deal with Issues of Ethics and Diversity That Come Up Because Of Internal Coaching
The Petrochemical Company’s internal coaches will likely face ethical and diversity issues when dealing with customers due to the Company’s plan to hire people from all over the world. To address the ethical and diversity issues that have surfaced as a result of in-house training, the Company will research to unearth data and gain a more profound familiarity with the ideas and values that shape the actions of professionals (Hamurcu, 2018, p.36). The Company has policies to deal with any ethical issues that may arise from any unethical actions taken by our coaching personnel. Professional behavior, in its more comprehensive definition, is one of the ethical and multicultural approaches our Company will continually address. Another way to deal with the diversity and ethics issues that may arise from internal coaching is to adopt a policy.
The Company will implement a code of ethics for coaches during their sessions. A corporation’s code of ethics refers to the collection of principles, norms, and practices adopted by the Company and are to be adhered to by all employees. The internal coaches and the coaches will be made aware of the ethical coaching code to set clear expectations for conduct during coaching sessions (Maltbia et al., 2014, p.170). Furthermore, the Company will hire culturally experienced internal coaches to address potential ethical and diversity issues during internal coaching (Hamurcu, 2018, p.36). Employing culturally competent coaches ensures that they can address any issues relating to ethics or diversity that may arise during the coaching session. These in-house coaches will be able to handle these issues because their coaching methods are sensitive to their client’s cultural backgrounds.
Costs Associated with The Proposal
The notion was not without its price tag, which included substantial outlays for things like startup funding, IT infrastructure, and human resources. The total amount spent on employees in the first, second, and third phases. Here is a breakdown of the main costs incurred by the Company as a direct result of its workforce requirements. When option 1 of the executive is chosen, there are two branch managers to maintain a 2:1 ratio, and six days a week are worked; the aforementioned calculations for firm management at an hourly rate of £38.00 are accurate. The cost of coaching is estimated to be $4,000,000 per year. It will cost $2,500,000 to pay for the internal coaches. Further, a million dollars would be required to arrange the coaching workshops.
Conclusion
The main objective of this proposal is to offer a plan for founding a petrochemical firm to investigate and create cutting-edge medications for various illnesses. The Company will implement a coaching culture throughout the whole organization to increase the likelihood that it will succeed in its aim. Adopting an internal coaching culture has made it possible to achieve long-term leadership development, enhanced resilience, a more efficient and effective coaching program, and easier access to coaches familiar with the Company’s culture. The ability to follow ethical standards and industry norms is one of the talents required for internal coaches. In addition to these fundamental qualities, coaches also need to be able to make coaching agreements, develop a strong relationship with clients, keep a coaching presence, listen intently and ask probing questions and speak clearly. Additionally, the internal coaches must possess qualities like the capacity to broaden awareness, the capacity to plan and carry out efficient activities, the capacity to set and attain goals, and the desire to accept accountability for the outcomes. In order to address the ethical and diversity issues raised by internal coaching, the company will recruit culturally competent internal coaches and create a coaching code of conduct.
References
Ciporen, R. (2015). The emerging field of executive and organizational coaching: An overview. New Directions for Adult and Continuing Education, 2015(148), 5-15.
de Haan, E. (2019). A systematic review of qualitative studies in workplace and executive coaching: The emergence of a body of research. Consulting Psychology Journal: Practice and Research, 71(4), 227. https://psycnet.apa.org/record/2019-50828-001DiGirolamo, J. A., & Tkach, J. T. (2019). An exploration of managers and leaders using coaching skills. Consulting Psychology Journal: Practice and Research, 71(3), 195.https://psycnet.apa.org/doiLanding?doi=10.1037/cpb0000138Hamurcu, Ç. (2018). Core Professional Coaching Competencies Scale. Performance Improvement, 57(9), 36-47.https://doi.org/10.1002/pfi.21806Maltbia, T. E., Marsick, V. J., & Ghosh, R. (2014). Executive and organizational coaching: A review of insights drawn from literature to inform HRD practice. Advances in Developing Human Resources, 16(2), 161-183.https://doi.org/10.1177/1523422313520474Schalk, M., & Landeta, J. (2017). Internal versus external executive coaching. Coaching: An International Journal of Theory, Research, and Practice, 10(2), 140-156. https://doi.org/10.1080/17521882.2017.1310120Smith, K. F., Goldberg, M., Rosenthal, S., Carlson, L., Chen, J., Chen, C., & Ramachandran, S. (2014). Global rise in human infectious disease outbreaks. Journal of the Royal Society Interface, 11(101), 1-6. https://doi.org/10.1098%2Frsif.2014.0950Tzafestas, S. G. (2018). Ethics and law in the internet of things world. Smart cities, 1(1), 98-120.
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