Executive Management

b) Developing and implementing safety protocols for drilling operations.

d) Chief Technology Officer (CTO)

c) Market volatility and fluctuating oil and gas prices.

a) Chief Marketing Officer (CMO)

c) By developing strategies that balance economic growth with environmental stewardship and responsible resource management.

This is a sample solution, and there could be other valid options depending on the company's specific circumstances.

Option 1: Invest in Carbon Capture and Storage (CCS) Technology

• Benefits: Reduces carbon emissions from existing fossil fuel operations, potentially enhances the company's image as a responsible player, could position the company as a leader in a potentially lucrative new market.
• Risks: High initial investment costs, technological uncertainties, potential public opposition, reliance on government regulations and incentives.

Option 2: Diversify into Renewable Energy Sources

• Benefits: Enters a growing market with potential for high returns, reduces dependence on fossil fuels, improves the company's environmental image.
• Risks: Steep learning curve for a new industry, potential competition from existing renewable energy companies, challenges in integrating renewable energy sources into existing operations.

Option 3: Focus on Energy Efficiency and Optimization

• Benefits: Reduces operational costs, lowers carbon footprint without significant capital investment, leverages existing expertise and infrastructure.
• Risks: May not be enough to satisfy stakeholder demands for significant carbon reduction, limited impact on the company's long-term sustainability, could lead to pressure from competitors who are more proactive in transitioning to renewables.

Most Suitable Option:

In this specific scenario, investing in Carbon Capture and Storage (CCS) technology might be the most suitable option. This approach would allow the company to directly address investor and environmental concerns by reducing its carbon footprint while continuing to operate in its existing core business. It aligns with the company's existing expertise in fossil fuels, potentially leveraging its infrastructure and resources to create a new revenue stream. However, the company needs to carefully assess the risks and potential challenges associated with this technology, ensuring the necessary investment and regulatory support are in place.

Reasoning:

While diversification into renewable energy is a promising long-term strategy, it may require significant investments and expertise beyond the company's current scope. Energy efficiency measures are valuable but may not be enough to satisfy growing stakeholder demands. CCS technology offers a more immediate solution to reduce carbon emissions while allowing the company to capitalize on its existing expertise and resources.