Velsicol Case Essay

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| | | CONTEXT: Nathan Scott is the managing director of VELSICOL EESTI AS, which is a joint venture between VELSICOL CHEMICAL CORPORATION (an American company specialised in producing petrolium derived chemicals) and Estonian Government. After creating VELSICOL EESTI AS in 1995 and setting its missions and goals, Nathan Scott has to settle a new culture and new procedures in the company whose employees were far from american business culture; as an example they didn’t never care about quality, customer, cost, …. 1. THE STAKEHOLDERS: The vesticol Easti is a joint venture between two entities coming from different contexts and having different identities. The shareholders are: * Vesticol Chemical corp that has 80% of the ownership with commitement to significant amount of new investment and a minimum retention of employees; * Estonia Governement that hold the rest of the ownership and act as the contractual supplier. As the stakeholders of the company include all the parties that have an interest on the future of the company and should be aware about its strategical decisions, then we can consider the following entities as main stakeholders of Vesticol Easti : * Shareholders * Employees * American Government 2. WHAT ARE THE OBJECTIVES OF EACH STAKEHOLDER? The objectives of stackholders can be listed as bellow: * Shareholders objectives: * To achieve and sustain a globally competitive position as a benzoic acid producer * To establish a competitive benzoic acid derivatives business * To earn excellent returns for shareholders * To operate safely, ethically and with high social standards * Employees objectives : * To be well paid with wages and jobs being guaranteed * American government : * Support the interests of the parent company in Estonia * Maintain good relations

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