Joint venture success factors in the petroleum industry (management Essay

Joint venture success factors in the petroleum industry (management side) - Essay Example On the other hand, there were thirteen failure factors that gas and oil managers pointed out. The failure factors include; i. Selecting a suitable business partner. ii. Managerial teams having mixed abilities. iii. The company’s power of negotiation. iv. Gain of foreign technology v. Compatibility of each partners objectives vi. Having a clear understanding of the petroleum sector future dynamics vii. Gaining managerial expertise from foreign partners viii. Cooperation between supply and reinforcement. ix. Export development. x. Sharing risks and profits. xi. International marketing cooperation. xii. Joint venture agreement transparency. xiii. Powers for independent decision making. The success factors that were pointed out by the managers include; i. Corporate cultures importance ii. Production cooperation. iii. Solving of conflicts iv. Export development v. Domestic marketing cooperation. vi. Taking an equal responsibility in management vii. The willingness of the partners f rom Algeria to retain their stake as majority shareholders in the Joint Ventures. viii. Involvement of domestic partners in R & D. ix. International leasing eligibility. The data gathered from all the participants in the form of filled questionnaires were then arranged as tables in the SPSS data files in order to be analyzed through the SPSS processor. In total, four SPPSS data files or tables were composed, out of which one represented the Algerian Managers failure factors, one included the Algerian Managers success factors, one comprised of Foreign Managers failure factors and one consisted of Foreign Managers success factors. Each one of the 4 SPSS data files was analyzed by executing the descriptive analysis, t-test analysis and chi-square analysis with the help of the SPSS software. Subsequent to which, the output data that were generated for each table have been presented in the respective tables in the following sections. The SPSS processor also generated the histogram showin g the distribution of each factor with respect to the normal-distribution-curve. The output data for each section will then be compared to develop the similarities and the differences in the perception of the Algerian managers to that of the foreign managers in relation to the success and failure factors of the international oil and gas joint ventures in Algeria both in the past and in the present. 11.1. Literature Review 11.1.1. Hypothesis Testing A hypothesis, in a research-study, can be defined as an expression that can be subjected to analysis. For answering a statistical question, the question is formulated in the form of a hypothesis. Then the hypothesis is accepted or rejected on the basis of the outcome of the analysis. The hypothesis that is being analyzed or tested is referred as the null hypothesis and is denoted by H0, which has to be a true or false statement. There is an alternative hypothesis denoted by HA for every null hypothesis. In this regard, the development and the assessment of the hypotheses is the most important task however the best way for the hypothesis-construction is not necessarily evident: Priority is given to the null hypothesis and it is accepted until some strong evidence is found or produced against it. If a hypothesis is simpler than the other one then it should be given priority in order to adopt a relatively 'simpler' theory unless adequate evidence is found