PNOC Shipping and Transport Corporation: A wholly-owned subsidiary of Philippine National Oil Company
PNOC Shipping and Transport Corporation has very well served its role to efficiently transport petroleuem products nationwide which led to her creation in 1979. Now, the company is financial crisis brought about by management efficiencies, employees' demoralization and the inherent lack of supp...
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| Format: | text |
| Language: | English |
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Animo Repository
2000
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_masteral/2806 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | PNOC Shipping and Transport Corporation has very well served its role to efficiently transport petroleuem products nationwide which led to her creation in 1979. Now, the company is financial crisis brought about by management efficiencies, employees' demoralization and the inherent lack of support form the government to modernize its fleet.
The company is a self-sufficient government entity and has managed to maintain a significant share of the market despite the circumstances that inhibited its growth. Truly, the company had reached its peak and is now on the rink of bankruptcy. This kind of business does not necessarily be governed and regulated by the government because it will definitely control its productivity and growth.
This paper impels for continued operations of PNOC-STC to serve two purposes, first is to increase marketability to be able to facilitate a successful privatization and second, as a contingency program should another privatization fails. The deregulatory movements in the oil and domestic transport industries give more uncertainties for PNOC-STOC, fortunately, the company has initiated temporary measures to maintain the business by forming alliance with other player in the industry. By the thrust, the five-year projection proves to be favorable for the company but still cannot promise stability. |
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