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Strategic re-thinking in shipping companies

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  • Peter Lorange

Abstract

This article proposes a framework for how successful shipping companies can develop strategies for growth and take advantage of business opportunities. It is essential to strengthen strategy implementation to trigger faster, internallygenerated and profitable business growth. Formal planning and control systems, as they traditionally exist in shipping companies, need to be modified to allow for such growth. The forward-thinkers, the truly dynamic companies, will be able to perceive business opportunities before anyone else, mobilize their people, and implement the necessary strategies. In doing so, a balance must be struck between the everyday and visionary focus, between the top-down and bottom-up focus, between the business and corporate portfolio focus. Shipping companies can learn from the example of the progressive business leaders in other fields, capitalizing on their way to succeed and grow, by developing a dual capability to ‘see’ new opportunities and to ‘mobilize’ the relevant organizational resources to implement these. Examples from successful shipping companies are provided.

Suggested Citation

  • Peter Lorange, 2001. "Strategic re-thinking in shipping companies," Maritime Policy & Management, Taylor & Francis Journals, vol. 28(1), pages 23-32, January.
    • Handle: RePEc:taf:marpmg:v:28:y:2001:i:1:p:23-32
    DOI: 10.1080/030888301750050741
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    References listed on IDEAS

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    1. Kumar, Nirmalya & Scheer, Lisa & Kotler, Philip, 2000. "From market driven to market driving," European Management Journal, Elsevier, vol. 18(2), pages 129-142, April.
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    1. Van de Voorde, Eddy E.M., 2005. "What Future the Maritime Sector: Some Considerations on Globalisation, Co-Operation and Market Power," Research in Transportation Economics, Elsevier, vol. 13(1), pages 253-277, January.
    2. Kou, Ying & Luo, Meifeng, 2018. "Market driven ship investment decision using the real option approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 118(C), pages 714-729.
    3. Francesco Parola & Marcello Risitano & Ilaria Tutore & Marco Ferretti, 2014. "Analyzing maritime economy in Campania," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - The Italian Journal of Economic, Demographic and Statistical Studies, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 68(2), pages 59-74, April-Jun.
    4. Photis M. Panayides, 2003. "Competitive strategies and organizational performance in ship management," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(2), pages 123-140, January.
    5. Theotokas, Ioannis, 2007. "Chapter 3 On Top of World Shipping: Greek Shipping Companies' Organization and Management," Research in Transportation Economics, Elsevier, vol. 21(1), pages 63-93, January.
    6. Simone Caschili & Francesca Medda & Francesco Parola & Claudio Ferrari, 2014. "An Analysis of Shipping Agreements: The Cooperative Container Network," Networks and Spatial Economics, Springer, vol. 14(3), pages 357-377, December.

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