Preparing to Conduct Business Research
Michael Pedragosa, Roshelle Santiago, Darin Capps, Jimmie Rogers, Marlon Ector
RES 351
June 1st, 2015
Debra Bacon

Preparing to Conduct Business Research This paper will address the problem facing Exxon, an oil company, as the world’s supply of oil becomes more exhausted. We will describe the significance of this as it pertains to Exxon, and the importance of performing business research in order for Exxon to figure out how to adapt to the coming change. Questions like “should they continue in the energy business but switch over to renewable energy sources, like the sun and wind, or abandon the energy business altogether” will also be explored.
Description of the issue; is oil is running out? Since oil was discovered, it has been used for several things to improve our quality of life. These improvements such as petroleum, tires, perfume, shoes and few others items that we use in our every day life. After decades of oil consumption, companies like Exxon, have to have the idea of innovation in order to keep its business on the top and provide the same services as always. Why is a company like Exxon running out of oil? As we know the oil is a non-renewable resource made by the nature, thus that means that once it is spent it cannot be generated again. As the matter of fact, Exxon company, as many others, have been facing some struggles to find enough oil to cover consumer demand. Basically the bottom line is that it is replacing less than it is producing. So the company does not have a 100% reserve replacement rate, according to Oil Change International, (2015). The company, after evaluating the issue of running out of oil, needs to expand, invest, and innovate to move its business. Thus that is why indeed Exxon’s takeover of XTO Energy (“Oil Change International”, 2015) to cover its numbers and meet the