Business Communication and Analysis
Comparative Report on Reliance Industries Limited and its major competitor Indian Oil Corporation
5. GROWTH AND APPROACH
6. SWOT ANALYSIS OF RIL
7. SWOT ANALYSIS OF IOCL
8. FUTURE SCOPE AND SUGGESTIONS
Reliance Industries Limited (RIL) is an Indian conglomerate holding company headquarted in Mumbai, Maharashtra, India. The company operates in segments like production, refining, petrochemicals, retail and telecommunications. Reliance Industries Limited operates world-class manufacturing facilities across the country at Allahabad, Barabanki, Dahej, Dhenkanal, Hazira, Hoshiarpur, Jamnagar, Kurkumbh, Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara. in India and export their products to other countries. . It operates in various parts of the world and exports to 108 countries. Reliance contributes to 14% of total Indian exports. RIL is the largest private sector enterprise in India. Their annual revenue is around US $ 73 billion. RIL was founded by Dhirubhai Ambani and Champaklal Damani in 1966 as Reliance Commercial Corporation. Later Dhirubhai Ambani expanded the company by opening branches of the industry at various locations of the country. The company held its Initial Public Offering in the year 1977. In 1985, Reliance Commercial Corporation is renamed as Reliance Industries Limited. Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fiber producer in the world and among the top ten producers in the world in major petrochemical products. Starting as a small textile company, Reliance has in its journey crossed several milestones to become a Fortune 500 company in less than three decades. Reliance was ranked 99 in the Fortune 500 list in 2013. Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. There are more than 25000 employees in Reliance Industries Limited. Tagline for Reliance Industries Limited is Growth Is Life.
Indian Oil Corporation Limited, also called as Indian Oil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India. It is the world's 88th largest corporation, according to the Fortune 500 list, and the largest public corporation in India and followed by Reliance Industries Limited when ranked by revenue.
The purpose of this comparative report is to prepare a comparative study of Reliance Industries Limited and its major competitor Indian Oil Corporation. This comprehensive study will show analysis of the differences in business strategies, their growth and approach of these two major companies in the industry and to analyze the SWOT of both companies. Methodology:
Important feature for the evolution and growth of Reliance is backward vertical integration. Backward vertical integration is where the supply chain of a company is owned by that company. Usually each member of the supply chain produces a different product or service, and the products combine to satisfy a common need. One of the strategy of RIL is sustainable development to achieve sustainability and profitable growth. They adopted principle of materiality and prioritized key issues after collective deliberation by management and key stakeholders. These issues include energy security, health and safety, corporate governance and transparency, product responsibility, climate change and waste management. Few other strategies of RIL are
Pursuing attractive export opportunities.
Improving its technology.
Achieving economies of scale.
Investing in high growth opportunities.
Invest in research, quality, safety and the environment.
Strive for global leadership and to be amongst the lowest cost producers worldwide. Strategies of Indian Oil Corporation are:
Management’s vision and insight on...
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