Managing Employee Risk in the Petroleum Industry



ACKNOWLEDGEMENT

The researcher tends to identify this as the opportunity to value the efforts of the teachers for cultivating the ideas and formulating the first move in the context of this project. The researcher would take this opportunity to appreciate the hard work and the patience shown by the staff for providing the world class teaching and research facility as this project would have ceased to exist without their due support.

DECLARATION

I …………………substantiate that this research work acquiesced for evaluation is my own and is a construction of my words. Any part of this paper which tends to integrate the works of other authors in any comportment has been properly accredited.

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CHAPTER 1: INTRODUCTION

Introduction

This section will inoculate the person who reads with the required information in order to understand the jargon of the Research. This chapter tends to focus on the aims and objectives of the research along with the other notions, which helps reader to decipher the functioning of the research.

Background

Addax Petroleum is a subsidiary firm named after an antelope in the Saharan afriaca and she is a member of the SINOPEC group which is the largest oil refiner in Asia, one of the biggest oil and gas manufacturers in China and the third leading group in the world. Addax has its major capital in Geneva (Switzerland) and other branches in Nigeria Cameroon, and other west african countries. Thus for the purpose of this study, research would be based on employee risk management in Addax Petroleum Cameroon.

Risk management practices catering to employees have long been exalted in the academic and practitioner literatures, although the claimed benefits have gone beyond the simple reduction of risk to extend to performance improvements throughout the enterprise. Despite the purported benefits of managing risks, risk management catering to employee or employee risk management is not practiced in a number of important business contexts including outsourcing. Lonsdale notes, that firms have made outsourcing decisions without regard to certain important risks. Prior researchers have claimed that many of the firms that outsource functions do not appreciate the risks they face. Scholars have suggested that risk management significantly pertaining to the employees may be viewed as an administrative hassle, that it may require skills project participants lack, and that the information required to perform risk management effectively may be lacking. These disparate reasons, however, have not been assembled into a theory to explain why risk management practices get adopted in some instances and not in others.

The definition for managing employee risk used by this study is based in part on the process suggested by Knemeyer, Zinn, and Eroglu (2009). As their process is a normative process suggested for use by managers, the specific details of each step of the normative process are not included as part of the definition. In keeping with Knemeyer, Zinn, and Eroglu (2009), risk identification is defined as the first step of managing employee risk management process. Risk identification is defined as a proactive attempt ...