Company Overview of Sinopec Corp.
Focusing on its core business of petroleum and petrochemicals, China
Petroleum and Chemical Corporation (Sinopec Corp.) is a publicly
listed company with integrated upstream and downstream operations and
a complete marketing network. The company was set up on February 28,
2000, pursuant to the [Company Law of the People's Republic of China]
and in line with the principle of 'separation of core business from
the ancillary, good assets from the bad, and enterprise functions from
the social', by China Petrochemical Corporation (Sinopec Group) as the
sole sponsor, after the restructuring of its businesses, assets, debts
and creditor's rights, organization and personnel. Following
international models, the company has set up a new, standardized
structure of corporate governance, with centralized decision-making,
delegated authorities in management, and business operations handled
by specialized business units. Sinopec Corp. has more than 70
subsidiaries, either wholly owned, or with equity participation,
including majority controlled, in exploration and production,
refining, chemicals, marketing, research and foreign trade. Most of
the Company's assets and principal market is situated along China's
most developed eastern, southern and central areas. Sinopec Corp.
sticks to the philosophy of open and competition, the business
strategy of expanding resources and market, cutting cost and improving
profitability, as well as exercising prudent investment. To maximize
profits and deliver superior shareholder return is the Company's
guiding objective and the operating mechanism is market-oriented
externally...
... middle of paper ...
...shall also stick to the existing strategy, and as
breakthrough, improve corporate governance, carry out in-depth reform
on its management system and operational mechanism, speed up rational
procedures to the business portfolio and industrial layout, thus
improving the quality and speed up the pace of the Company¡¯s business
expansion, to realize effective growth.
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Cooper, C. L. (1998) Theories of Organizational Stress, New York
Schermerhorn, Jr. J.R., Hunt, J.G., Osborn, R.N. (2002) Core concepts
of Organizational Behavior, London: Routledge
Spears,L.C.,(1998) Insight on leadership: service, stewardship,
spirit, and servant-leadership, Canada
Iiris Aaltio and Mills, A.J. (2002) Gender, Identity and The Culture
of Organizations, London: Routledge
www.sinopec.com.cn
www.hongen.com
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