2893 Words Oct 4th, 2014 12 Pages

The Royal Dutch Shell is one of the biggest multinational petroleum companies, with its basis of origin in Dutch and Britain. It was considered as one of the world's largest corporation by the Fortune in 2009. From its inception in 1907 till date, it has been able to emerge as a successful petroleum country reigning in the British markets. With its operations in 140 countries, the company has been able to successfully manage their business across borders, maintaining their core principles and values across all subsidiaries, in all countries. The company has been proactive in outlining a competitive strategy, increasing the product profile and entering newer markets at the right time[1].

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This had a negative effect on the development of oil reserves for the company. The scandal of over-statement further aggravated the situation for the company. This was probably the biggest hiccup that the company has ever had in its life.

The company's act of over-statement was a shock for all. It was tarnish to the image of the company. In order to bring things back to order, the company reviewed its management and operational structure again and made the necessary changes so that the company could stand up again. To please the stakeholders, a number of managing directors were employed to ensure the flow of work. The company, answering to the popular criticism that they always hired from within the group, announced the appointment of a finance director from outside the group. Shell also started taking measures to replace the reserves of oil, something it was not doing before and was a cause of concern. All these actions were taken to ensure to the stakeholders that the company would do loads to appease them and to maintain its image in the world. Although such hiccups take time to be forgotten, Shell took proactive measures of a simplified board, improved accountability and decision making power and leadership in the company, to renew the trust between themselves and the stakeholders.
The Mis-Statement of Reserves: Shell's Public Image Tarnished:

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