Formation of VEPCO The purpose of this paper is to provide the history and background of Dominion Resources. The paper will discuss the company’s organizational structure; identify the current CEO and other senior officers. It will display the company’s five year monthly stock price and evaluate the company’s overall financial success. The paper will provide recommendations for improvements within the organization structure and predict the company’s future financial success. Dominion Resources date back as far as the Colonial age timeframe. The establishment of Dominion was during the improvement navigation and commercial development of the Appomattox James River. This navigation project helped to propel Dominion into the company …show more content…
He began to change the focus of the company. Berry stop construction toward substations and emphasize focus toward transmission. Dominion’s strategic strategy is to become a leading distributor of electricity, natural gas and services in conjunction with energy to the Midwest, Mid-Atlantic and Northeast regions of the United States. Currently Dominion operates as one of the top largest manufacturers and transporters of electricity in the nation. “According to Dominion’s website the company, estimates 23,600 megawatts of energy generation, 6,400 miles of electric transmission lines, 10,900 miles of natural gas transmission, including storage pipelines. Dominion provides energy and operates as one of the nation’s largest natural gas storage systems to customers in 10 states within the U.S., covering 947 billion cubic feet of natural gas storage capacity (dom.com).” Thomas E. Capps became CEO of Dominion Resources in 1990. While under his leadership Dominion sold their natural gas distribution operations. However, Dominion acquired three natural gas companies in the year of 1995. In 1996 Dominion combined with Chesapeake Paper Products to construct a cogeneration facility to expand natural gas …show more content…
Farrell II, elected in April 2007 continues to strategically align the company for success. As Dominion evolves in the energy industry there are two important financial objectives of the CEO, this includes the profit maximization and wealth maximization for its investors and continued success. In order to meet these goals, the company has implemented an organizational structure chart. Dominion Resources is broken down into three operating sectors: Administrative and Finance, Energy Infrastructure and Generation. The structures described contains layers of managers, however the decision making flows downward from the top senior officers. Reporting directly to Farrell is CFO Mark McGettrick, Chief Administrator Carter M. Reid, Senior VP of Regulatory Affairs Thomas P. Wohlfarth, CEO of Energy Infrastructure Group Paul D. Koonce and CEO Dominion Generation Group David A. Christian. Dominion recognizes people and functions do not operate entirely independently, however all parts of the organization need each other to function sufficiently and successfully. Recommendations on improving the organizational structure are eliminating three of the six senior executive positions that reports directly to the CEO Tom Farrell. Along with combining several of the operational sectors and downsizing several management level
This segment consists of the three natural gas pipelines: Panhandle Eastern, Trunkline, and Sea Robin, natural gas storage assets, and the Trunkline LNG terminal. The three pipelines have a total length of approximately 10,000 miles and transport 5.5 Bcf/d of natural gas. The Panhandle Eastern pipeline transports natural gas from the Rocky Mountains and Midcontinent supply areas to...
A fundamental difference between the New England and Southern colonies was the motives of the founders. In 1606, the Virginia Company was formed, motivated primarily by the promise ...
In 1606, King James I created the Virginia Company to attempt to free England from dependence. Both the London and Plymouth group parallels were colonized and developed as English colonies. Despite the fact that the English settlers of the New England and Chesapeake regions had similar colonial development, by the eighteenth century they had become into two, individual societies. The gentries who settled the London group parallels and the Puritans who settled the Plymouth group parallels began to grow differently from the start, as their economical, leadership and social viewpoints arose.
5.Virginia Company— name of two English colonization companies chartered by King James I in 1606. One founded on the Plymouth Colony; the other, latter known as the London Company, founded colonies in the South, notably Jamestown, VA.
The CEO’s Day Overview This case examines the multiple duties that the President and CEO of Midvale Community Hospital, Terry Blaze, participated in throughout the day to ensure that the hospital is running effectively. Throughout the day, Blaze attends numerous meetings, which are directed towards improvements, changes, or concerns that will overall affect the hospital. During several of them, he is required to make final decisions; however, he often directs other personnel to make that final judgment call. It was evident that Blaze wore many hats as the President and CEO of the hospital, which made it evident that his time was stretched thin. This could result in tasks going unfinished or completed incorrectly.
On the 26th day of April, 1607, three small ships - Susan Constant, Godspeed, and Discovery - passed between Cape Charles and Cape Henry into the Chesapeake Bay for the purpose of founding a permanent colony in the land called Virginia. Captain Christopher Newport and the other voyagers took seventeen days to investigate the advantages and disadvantages of that region for such an undertaking(Carrier, 7).
Powering up my computer, logging into the Dominion website, and writing this essay would all be impossible without Dominion. In this day and time, the energy industry is essential for human survival. People across the world rely solely on the fact that they will wake up the next morning, turn on the light, and prepare for the next days activities. Energy is such an underlying assumption of life in America that many of us do not take the opportunity to stop and think just how vital it is. With this being said, I have developed an extreme interest in Dominion and would find it fascinating to be able to use the skills and concepts that I have learned as a student and put it into use for an industry that Americans rely upon so heavily.
Pennsylvania, along with being rich in coal, is now receiving kudos for its participation in the production of natural gas. An article composed by Madelon...
However, the monopoly status of the company caused many filed law suits, which finally led to the divestiture of the firm. After the divestature AT&T and the regional Bell operating companies, AT&T lost most of its market share and customers, due to competition and loss of its competitive advantage, namely the ability to reach its wires and bills to every American house. Consequently, since the company was still a huge cash generating company, it decided to diversify into new sectors. Indeed it took over the computer maker NCR, McCaw, some other...
Twenty years later, Bartholomew Gosnold finally convinced wealthy English investors that there was a need for colonists in the real world, and as a result, The Virginia Company was formed.
The founders hired a CEO to continue guiding the company on the path towards success but realized too late that they overlooked an important component. The CEO lacked the character and traits needed to positively develop and lead the company and its people. After facing a major decline in customer service and an uptick in employee turnover, The Home Depot realized that it needed to resort back to the basic guiding principles. They must choose a leader that buys into the same vision and philosophy that the company was built upon. The leader must behold the same values that were cherished by the founders and must be willing to invest in nurturing the culture, the associates and customers.
Sears Holdings is a company in transition. Now, faced with adversity and the threat of bankruptcy looming its leadership has come under scrutiny. “Great leaders not only have drive; they want to lead. Also important is a high need for power, a preference to be in leadership rather than follower positions. A high power need induces people to attempt to influence others, and sustains interest and satisfaction in the process of leadership. When the power need is exercised in moral and socially constructive ways, rather than to the detriment of others, leaders inspire more trust, respect, and commitment to their vision (Bateman, pp 399, 2007).”
Corning is a decentralized company currently being plagued by both external and internal threats, such as market uncertainty and poor communication and planning systems. The company has just recently started to recover from a large layoff in 1975, which reduced worker job confidence. The Houghton family has a preference for an informal workplace with an ambiguous leadership style that contradicts the formal and strict resource allocation system designed for their international strategy. The current strategy being employed differs with the owner’s philosophy, which is important, since the President must buy into the plan to understand and communicate it effectively. This miscommunication creates goal incongruence, which is exemplified by the confusion of corporate divisions about whether they should be focusing on reducing cost or being an innovator. Also, each officer has been described as having work that overlaps, showing no focus and a lack of efficiency. The fact that each of the over 150 businesses groups have to write up a resource allocation request and business strategy creates the issue of finding time to read each report.
CEO Johnston also has plans to bolster the company’s leadership with the best minds available and also use motivational techniques to invigorate his employees. These ideas show the character of the CEO in enhancing productivity from his work force.
... organizational structure that needs to be maintained for its operations in Australia. As the suggestion has been of total ownership thus span of control is needed and these factors have been discussed in this report to illustrate how effective the organization can be in Australia.