- Talks about “Leadership during Energy Paradigm Shift” at Seoul National University Business School
- Talks about change in the energy industry and future leadership with next-generation leaders
Invited by Seoul National University Business School (MBA), S-OIL CEO Othman Al-Ghamdi gave a special lecture under the topic of “Leadership during Energy Paradigm Shift” on Sept 22nd. Explaining Oil Competitiveness & Challenges and Oil Industry Possible Strategic Direction during the changing business environment, Mr. CEO requested young talents to become passionate leaders capable of coping with change.
This lecture was an extension of his previous ones at Yonsei University and Korea University Business School (MBA) in May. CEO Al-Ghamdi’s one-hour lecture in English was followed by an active Q&A.
CEO Al-Ghamdi described the history of energy industry and changing status of the oil industry from four As: Availability, Affordability, Acceptability and Applicability. He said invention of combustion engines, growing ownership of cars and oil field development in the Middle East and North Sea opened the age of oil industry. This was followed by a focus shift to energy economics, which led to new energy sources such as nuclear power and LNG, and eventually the shale oil revolution. CEO Al-Ghamdi gave an analysis that climate change has heightened interest in eco-friendly energy while narrowing the status of fossil fuel.
CEO Al-Ghamdi suggested oil industry’s strategic direction in the midst of rapidly changing business environment at both home and abroad by using S-OIL’s case as a reference.
“We decided to carry out the RUC/ODC Project in 2015. It was not an easy decision to launch a five trillion Won mega project at a time when the global oil market was in a slump, but it was a choice we could not turn our back on because we need to secure solid competitive advantage against uncertainties in the business environment. World-class facilities that we are building will let S-OIL achieve top-notch operational efficiency and cost competitiveness."
CEO Al-Ghamdi stressed organizational flexibility to be the key to survival. He added that one of the top priorities of a leader during paradigm shift is building a change-driven organization filled with creativity, challenging spirits and diversity away from the growth structure of the past that value hierarchy and authority for the sake of efficiency.
“A true leadership is about helping all members of the organization have a grasp of the environment they’re in, sharing the faith that they can all build the right vision and deliver it, and let them work with a sense of ownership.”
