Discuss about the Point Of Inflection For Maritime Industry.
A company working in the maritime industry has involved a business consultant to consult on the ways in which it can improve its business. The rate in which the industry and the competition are growing is bigger than the rate in its internal growth. The main idea is to improve its business in tandem with the business and industry demands. The company is earning hefty amounts of profits despite being unable to take all competition that’s is coming from the industry (Martin and Osterling 2014).
The main issue in this case is to get independent perspective on growth of maritime safety industry and the growth of the company . The second issue is to change the organizational process which is internal. In this case, the maritime industry organizational change has three stages. The first one is to determine data collection in order to effect the right change desired. Determination of the data that is being issued, the nature and availability of the data and the methods for collection within the organization. Data determination includes techniques and methods that describes the system organization, the relationship between the elements that guide the system and identifying the problems within the company. Organizational diagnosis, in the interpretation of where the company wants to go and where it is at the moment. Diagnosis will involve the use of data collected from the company and the maritime industry itself (Whitford 2007). Action and intervention on prevention of collapse and the system in which it wants to be changed. Today, change in an organization is the cornerstone of continuous organizational improvement. People change, and so do organizations and organizational culture. Organizations develop capacities to learn and capitalize on knowledge(Lack 2013).
How to prevent future collapse of the maritime industry business is by increasing synergy and competitive energy in the industry. The company should also address other issues such as efficiency and effectiveness in company operations and the ability of the company to be competitive (Burke 2018).
In this sense, it would be extremely useful for executives, managers, executives and professionals of companies that devote more of their time and energy to trying to learn based on what they decide what they have to solve and, more importantly, what they are.
The company is growing at a lower rate internally that the external growth rate of the business and competition. Although the company is profitable and its operations are among the best, it still needs internal re alignment to sustain its business(Hess 2010). As a maritime and technological business, it provides support systems to its clients. Technology especially develops and advances with every movement of time. It is in this change in industry that has caused the company to seek external health check on how it can improve or overhaul its business. A good business needs to stay in touch with its peers and competitors as the industry grows (Caluwe? and Vermaak 2007).
The rate at which the company is internally growing is slower than the rate of industry change and although the company is financially sound, in the long term it will have a continuity in business(Organizations 2010).
The cause of this report is to give the company a health check on what to do to change the internal system that is being used right now. The company wants to get an opinion on what it can do to get on a growth rate that is commensurate with the industry growth. The managers supposed to implement the change in organization are the same ones that are driving the same system that is running now. It is important to note that the cause of organizational change is to also help in competition. (Carr 2006).
Based on data collected, the financial system and the other data collected from the industry was used for decision criteria. The degree of organizational capability was also missing. The decision was also based on the current industrial and competition levels. It should be noted that the degree of organizational capability was missing. Due to little independent oversight over how it actually could have changed throughout the various inflections it was going through.
The primary essence of management is to make decisions. For managers, it is required that they evaluate alternatives and to make wide range decisions on particular matters. The decisions are based on risk and uncertainty and have varying degree of aversion of risk. Qualitative and quantitative analysis are used in making decisions. The main question to be asked is what is to be done and developing action plans. Posing for the problem is correctly used in making better decisions (Carter, Ulrich and Goldsmith 2012). Decisions should be made to lead to better alternatives. Since this is an organization, it works with different budgets and resources. The transition between an old system and a new system will require clarity of mind and rational decisions. Development of more alternatives in the maritime industry will only be found out in a team. There should also be system analysis and intuitive analysis where conditions of uncertainty makes the organization better(Recardo 2008).
Decision criteria in this company is based on improvement of the system to match or be better than the competitors. The decisions could not be based on anything other than rational thinking on where the company wanted to go. Change of system should be swift or gradual based on the requirements by the company. A swift system requires the company to close shop for maybe a week or three days to change the system based on what they want. Risk and uncertainty in the business should also propel the business to the next level(Turnbull et al. 2004). Decisions should also be based on principles based on analytical decision making. Risk management should be at the core in decision making. There should also be decision support systems in role information (Carter, Ulrich and Goldsmith 2012). The rate at which the company is internally growing is slower than the rate of industry change and although the company is financially sound, in the long term it will have a continuity in business(Gorton 2011). The company should also address other issues such as efficiency and effectiveness in company operations and the ability of the company to be competitive.
In making decision alternatives, there should be long term and short term measures of crisis and crisis prevention. The main areas in short term alternatives are operation of technology and organizational culture.
When it comes to a long term, there is greater mobility, both entry and exit in the market, something that is not very feasible when dealing with short-term periods. In this case, it can be considered a practically null benefit, where the meaning of the same refers to benefits where different companies are attracted or repelled according to the success or the losses in the maritime industry (Wang and Lowe 2005).A difference in terms of short and long term benefits in the economy is that in the short term, it is possible to obtain a greater amount of benefits, unlike the long term where constant entry and exit makes these benefits disappear , being null.
Planning: this is one of those magic words that every manager is tired of listening to and thinks he knows about everything. However, not all companies, especially those of small size, dedicate the necessary time to design strategies and achieve objectives and goals. When we speak in the short term, then, the action plan is constantly replaced by impulsive decisions (VOLTI 2017).
Understand then why it is important to have short-term plans.
Doing short-term planning means formulating one or more plans (paths of action) to achieve goals and objectives to be achieved in the near future. For this, it is necessary to evaluate the needs, demands and available resources in order to establish a strategy to implement an action and, subsequently, be able to direct and control(Bolten 2008).
Forecasts are not always fulfilled and, as a rule, the facts end up being different from the forecasts. But with financial planning, the chances of facing financial difficulties are less. In addition to good financial planning, to achieve the objectives, whether short-term or not, it is also necessary to plan the schedule of supply, sales, production, etc. Planning is a way of anticipating the facts (Maguire 2003). By planning the short, medium and long term, it is easier to deal with the daily difficulties and challenges of the companies.
Planning should be understood as an essential management tool for the strategy of any company.
Secondly, it must be understood as a technique that provides greater security so that the objectives and management goals are achieved. Finally, without stipulating a path to reach these goals, it is difficult for the company to achieve them (Maguire 2003).
On the other hand, with a well-made short-term planning, the success of the company is facilitated. When planning is done with the appropriate techniques, it becomes one of the best tools that a director, manager or president can have to ensure the success of the company.
The concern with planning must be constant and needs to contain all the activities of the company, including those in the short term, in which apparently it would not be necessary to plan in advance (Burke 2018).
Strategy implementation in maritime business will only be realized once the company focuses on introducing a new system, technology and organizational culture to meet the demands in the industry.
References
Bolten, J. G. 2008. Sources Of Weapon System Cost Growth. Santa Monica, CA: Rand Corp.
Burke, W. Warner. 2018. Organization Change. Los Angeles: SAGE.
Caluwe?, Le?on de, and Hans Vermaak. 2007. Learning To Change. Thousand Oaks, Calif. [u.a.]: Sage Publ.
Carr, Patricia. 2006. Implementing Culture Change. Alexandria, Va.: ASTD Press.
Carter, Louis, Dave Ulrich, and Marshall Goldsmith. 2012. Best Practices In Leadership Development And Organization Change. Somerset: Wiley.
Gorton, Bob. 2011. Boosting Sales. London: Bloomsbury Publishing.
Hess, Edward D. 2010. Smart Growth. New York: Columbia Business School Publishing.
Lack, Jonathan H. 2013. Plan To Turn Your Company Around In 90 Days. Berkeley, CA: Apress.
Maguire, Edward R. 2003. Organizational Structure In American Police Agencies. Albany: State University of New York Press.
Mark Cotter; Partner; EY. 2017.Video Business Case. (online). https://www.youtube.com/watch?v=7Ki5buDWNA4
Martin, Karen, and Mike Osterling. 2014. Value Stream Mapping. New York: McGraw-Hill Education.
Organizations. 2010. Heidelberg: Springer.
Recardo, Ronald J. 2008. Organization Design. Amherst, MA: HRD Press.
The Relationship Between Organizational Structure And Organizational Ambidexterity. 2012. GablerVerlag.
Turnbull, Katherine F, Richard H Pratt, John E Evans, and Herbert S Levinson. 2004. Traveler Response To Transportation System Changes. Washington, D.C.: Transportation Research Board
VOLTI, RUDI. 2017. SOCIETY AND TECHNOLOGICAL CHANGE. [Place of publication not identified]: WORTH PUB.
Wang, Sping, and Elaine Lowe. 2005. Technological Change. Ottawa, Ont.: Nursing Study Sector Corp.
Whitford, Josh. 2007. The New Old Economy. Oxford: Oxford University Press.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download