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135 - Project Ironman: Saving 600 Jobs and Reshaping the Oil & Gas Industry
Manage episode 431063179 series 3160303
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In this episode, How Meng Hock of OMS shares insights into how Ironman inspired him during a crucial period when his organisation faced potential liquidation in 2019.
The discussion delves into his journey from initial exposure to Ironman through Marvel movies, leading to the initiation of 'Project Ironman'.
As the CEO of an upstream oil and gas company, he demonstrates remarkable resilience in navigating the complexities of preserving jobs and steering the company through financial challenges and industry downturns.
He emphasises the balance between treating employees as social units rather than economic ones.
The conversation includes strategic takeaways from various business books and the practical application of management theories during a multi-year negotiation process.
00:00 Introduction and Guest Welcome
00:11 Ironman as a Role Model
01:00 The Birth of Project Ironman
01:52 Challenges of Announcing Job Cuts
03:19 Understanding the Oil and Gas Industry
05:16 Company's Role in the Upstream Sector
06:58 The Management Buyout Decision
09:21 Navigating Financial and Operational Hurdles
20:53 Support Systems and Team Resilience
27:30 Personal Philosophy and Early Career Lessons
31:26 Balancing Social and Economic Units
31:48 Challenges in the Oil and Gas Industry
32:42 Philosophy of Employee Retention
33:35 Stakeholders vs. Shareholders
34:43 Importance of Cash Flow
35:17 Short-Term vs. Long-Term Goals
37:34 Humility in Leadership
39:40 Lessons from Corporate Acquisitions
42:38 The Impact of Books on Leadership
50:59 Reflecting on Past Mistakes
53:03 Advice to My Younger Self
54:44 Conclusion and Final Thoughts
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