What is a functional strategy

For this essay, you will conduct research on corporate strategies and the    affect they have on the decision process. Use the same company you chose in   Unit  II. As you explore the decision process, consider how corporate   strategies  influence these decisions. In your essay, address the following   questions:

1. What is a functional strategy?
2. What are stability strategies in business? What are the pros and cons of          these strategies?
3. What are competitive and cooperative strategies?
4. What are the tradeoffs (pros and cons) between an internal and an external          growth strategy? Which approach is best as an international strategy?    Why?       What about retrenchment? 

Your essay should be two to three pages in length, double-spaced, and in 12    pt. Times New Roman font. The title and reference pages do not count towards   the  minimum page length. To complete this assignment, a minimum of two   reputable  sources must be used, cited, and referenced. Use APA style   guidelines.

Chevron Phillips Chemical Co LLC 1

Chevron Phillips Chemical Co LLC

Chevron Phillips Chemical Company LLC is one of the world’s top producers of olefins and polyolefins with Specialty Chemical groups offering a wide range of alkanes, mining chemicals, aromatics, and natural gas odorants around the globe. Based in Woodlands TX, Chevron Phillips Chemical Company LLC is a joint venture between Houston-based Phillip 66 and California-based Chevron Corp with over $16 billion in assets, over $9 billion in revenue, employing nearly 5000 workers throughout 33 facilities(Chevron Phillips Chemical Company LLC, 2020). Chevron Corporation and Phillips Petroleum Company, now Phillips 66 each own 50 percent of Chevron Phillips Chemical Company LLC.

Chevron Phillips Chemical (CPChem) has 31 facilities located in the United States, Belgium, Columbia, Saudi Arabia, and Singapore along with two major research, technology, and quality control centers in Kingwood, TX and Bartlesville, OK(Chevron Phillips Chemical Company LLC, 2020).Chevron Phillips Chemical along with Qatar Petroleum inked an agreement to pursue an $8 billion petrochemical complex that would have a 2-million-metric-ton-per-year ethylene cracker plant and 1-million-metric-ton-per-year polyethylene plant. Most recently CHChem has begun construction on a $5.86 billion project that will employ approximately 3500 workers by 2024(Pulsinelli, 2019).

Chevron Phillips Chemical has been recognized at the American Chemistry Council’s (ACC) Responsible Care Conference and Expo for achieving energy-efficiency improvements for back-to-back years(Chevron Phillips Chemical Company LLC, 2020). Chevron Phillips Chemical Company has agree to report spills of pre-production plastic pellets, which are believed to be a significant source of ocean plastic pollution(Second Large Plastics Manufacturer, 2019).CPChem approach to stakeholder engagement is to identify and include stakeholders in the design and implementation of the engagement process.

References Chevron Phillips Chemical Company LLC. (2020, February 7). Retrieved from cpchem.com: http://www.cpchem.com/en-us/sustain/pages/about-chevron%20phillips%20chemical.aspx Pulsinelli, O. (2019, June 21). Chevron Phillips Chemical reportedly make $15B acquisition bid. Retrieved from Houston Business Journal: https://www.bizjournals.com/houston/news/2019/06/21/chevron-phillips-chemical-reportedly-makes-15b.html Second Large Plastics Manufacturer. (2019, April 9). Retrieved from Plastic Pollution Coalition: https://www.plasticpollutioncoalition.org/blog/2019/4/9/7vynjta76svqssdj39yx76yxgmol47