Use of multimedia in oil industry in China: Status, information needs, preferences and perceived impact on sales and profit

Abstract

This descriptive-correlation study was conducted to determine the relationship between status, information needs, preferences perceived sales and profits of selected oil companies in the LIAOHE oil field. Specifically, the study aimed to describe the personal characteristics and work environments of the respondents, as well as their information needs, sources and assessment, and their perception of the sales and profits of their companies. The study also aimed to determine relationships among the major variables of the study. This respondents of this study were 300 supervisory and managerial employees in the LIAOHE oil field. Data were collected through questionnaire administration of a researcher-made questionnaire. Data were processed and analyzed using SPSS 17 software. The study revealed that most of readers were men, 40 to 49 years old (mean =40.80 years old), holders of a masters degree or higher, were working in companies engaged in oil exploration and with 5000 to 19999 employees. The respondents expressed need for both news and oil information, but more becoming a preferred source of information among the respondents. They agreed that the information they derive from their sources are useful, and they perceived that their company operation is profitable. Gender, age, education level, position and jobs were found to be significantly related to sources of information, but only gender was significantly associated with information need and information assessment. Gender and jobs were also significantly related to sales and profit, but age, educational level, and position were not. A significant relationship was also found between size of company of the company and source of information and perceived sales and profit, between information need, source, and assessment and sales and profit. With the increasing demand for oil and the expanding oil industry in China, competition continues to increase, and the demand for skilled workers and competent manager continue to rise. To increase an oil companies competitive advantage, the managers and other decision makers must be updated with information about oil and the development of the oil industry. Companies must have access to the most effective means of communication so that its managers and decision makers can get hold of relevant information when needed. In China’s oil industry, most of the target users of communication materials about oil are young educated middle and top level managers, but a significant number of senior officers and managers, who may lack advanced education, have a lot of experience in the oil industry. Despite their differences in information needs the decision-makers and operations managers must be informed about developments and happenings in the industry, thus they must have access to the best and most effective source of information.