The government of India had played a strategic role in the development of the Indian oil industry and the following elements could be identified as forming part of the strategy formulation process
a. Identifying a long-term mission.
b. Dealing with the futurity of present decision rather than with immediate responses/reactions to the present decision.
c. Constantly watching environment for threats/opportunities, and using the opportunities to reduce the threats.
d. Taking risks in uncertain and unpredictable environment.
e. acquiring strengths to be able to react to the environment effectively and to improve the organization's own bargaining power.
f. Generating alternatives to widen the base for choices towards achieving the mission.
IIM Ahmedabad Fellowship Dissertation
Indian Oil Industry: A Historical Study with Special Reference to the Strategic Role of Government of India
S. Vathsala (1980)
a compendium of Dissertation Abstracts of the Fellow Programme in Management, IIM Ahmedabad, Macmilllan India Limited, Delhi, 1998
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