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Reality Case Studies Chit-Chat

Well there were reality Tv shows, games, dares etc, so why not case studies:)
Okay agreed that most of case studies we go thu are 'reality' ones only, so lets discuss them.
We will take example of a problem in some company and then discuss how the problem should be solved or what are the r...
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I have a case study in economics which I am not able to get answer . Any help will be really appreciated from you guys !!! Please please do suggest something or some material !

case-
Read the following case study and answer the questions with respect to Indian Economy.
The public sector Indian Oil Corporation (IOC), a major oil refining and marketing company which was also the canalizing agency for oil imports and one of the very few Indian companies in the Fortune 500, in terms of sales, planned to make a foray in to the foreign market by acquiring a substantial stake in the Balal Oil field in Iran of the Premier Oil. The project was estimated to have recoverable oil reserves of about 11 million tonnes and IOC was supposed to get nearly 4 million tonnes.

When IOC started talking to the Iranian company to the acquisition in October 1998, oil prices were at rock bottom ($11 per barrel) and most refining companies were closing shop due to falling margins. Indeed, a number of good oil properties in the Middle East were for sale. Using this opportunity, many developing countries "made killing by acquiring oil equities abroad."

IOC needed the government permission to invest abroad. Application by the Indian company for investing abroad is to be scrutinised by the special committee represented by the RBI and the finance and commerce ministries. By the time the government gave the clearance for the acquisition in December 1999 (i.e. more than a yearafter an application was made), the prices had bounced back to $24 per barrel. And Elf of France had virtually taken away the deal from under IOC's nose by acquiring the Premier Oil.

The RBI, which gave IOC the approval for $15 million investment took more than a year for clearing the deal because the structure for such investments were not in place, it was reported.

A. Discuss the economic and non-economic environmental factors influencing the business revealed by this case study.
B What are the lessons from the case study? Do you think there has been a change in the business environment in India in the recent years?
Q.2 Discuss the nature of Balance of Payments crisis faced by the Indian economy during 1990s. How did India overcome this crisis?
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