Richard, the CEO of an Oil and Gas Exploration Company

question 34

Essay

Richard, the CEO of an oil and gas exploration company, indulges in excessive risk taking behaviour and adopts unconventional strategies to achieve higher profits. Though it helped him initially to acquire quick wealth and fame, it became unsustainable to latch on to the same strategy for long. If you were Richard's advisor, what would you suggest Richard for him to be considered a charismatic leader?

---

Definitions:

Bullwhip Effect

A phenomenon in supply chains where small fluctuations in demand at the retail level cause progressively larger fluctuations in demand at the wholesale, distributor, manufacturer, and raw material supplier levels.

Sell-Through

The percentage of inventory sold during a specific period, a key performance indicator in retail and inventory management.

Manufacturer's Sales

The total revenue generated from goods produced and sold directly by the manufacturer to the consumer or through intermediaries.

Incentive Obstacles

Challenges that arise when the incentives of different parties involved are not aligned, potentially leading to conflicts or inefficiencies.