Analyst: Oil firms should focus on managing intangibles

New business models in the petroleum industry must address intangible elements as well as the shortage of personnel, according to Calvin B. Cobb, vice-president of Cap Gemini Ernst & Young.Cobb told the Houston chapter of the International Association for Energy Economics earlier this month that there is tremendous opportunity for a petroleum company to distinguish itself by managing what he calls the critical intangibles in a corporation that drive value.Among these value-driving measures are strategy execution, management credibility, quality of strategy, the ability to attract talented people, and research leadership.Looking at the "human capital" crunch, Cobb said that there are oppor...

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