Strategic Management

 

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Strategic Management

Introduction Strategic management is among the most powerful tools of management in a company. This is where the general managers of the company take the initiative of planning the future needs and goals of the company. In this case, the general managers try to evaluate the strength, weakness, opportunities and threat analysis (SWOT) of the company so that they can be able to plan the future goals. It may appear to be difficult, but if a company takes this opportunity, they might gain an advantage over their competitors. Therefore, this paper is about the strength, weaknesses, opportunities and threats analysis (SWOT) of Star Bulk Company. Discussion Star Bulk is a global shipping company that deals with shipping of dry goods via the sea. It was incorporated in the Marshall Islands on December 13, 2006 (Star Bulk, 2012). Since then, the company has gained global significance in the transport sector. The company ships goods via the sea from one destination to the other. It mainly focuses on Capesize, large Handymax and secondarily on Panamax vessels (Star Bulk, 2012). For the company to prosper they have to plan their SWOT analysis effectively thus gaining competitive advantages. The strengths of Star Bulk Company include good customer relation. All over the world in the leading companies, Star Bulk has created good customer relationships. This is ensuring the retaining of many customers in the company. Henceforth, they have a wide base of loyal customers. Secondly, they use modern quality fleets. This reduces their expenses and it provides safety to their customers thus gaining the competitive advantage over their competitors. Thirdly, they have a strong management team with vast experience (Star Bulk, 2012). Henceforth, they are able to make excellent strategies. Lastly, they are efficient in shipping management ensuring the professionalism to their customers. The weaknesses of the Star bulk include the effects of the financial crises that are happening globally. Many of their customers are closing down their business operations until the financial crises are over. Therefore, Star Bulk business operations have gradually reduced making the company operate on losses. Additionally, the company is being affected by the shipping laws of different company. Although it may not affect them much, it is creating to problems to the company (Star Bulk, 2012). Therefore, the company needs to change this situation. The opportunities that Star Bulk Company wants to invest in are based on taking advantage of the marketing during the peak season. Additionally, the company is trying to train their employees on safety regulations of handling the goods while they are in transit. This will attract more customers. This is because customers trust a company that ensures safety in the transportation of their goods and services (Market Watch, 2011). Henceforth, when the company invests in these opportunities it will make profits. Lastly, these are threats of the star Bulk Company. These companies are providing the same services as Star Bulk thus sharing the market. It has so many competitors one of them being FedEx Corporation (Star Bulk, 2012). These companies are taking some of their customers in areas where they are unable to transport. For instance, they do not transport parcel or liquids via the sea. As a result, they have lost customers to their competitors. If this continues, they can close down completely due to lack of business. Conclusion Based on the above, SWOT analysis of Star Bulk Company, general managers of different should first prepare their analysis. According to Star Bulk, they have good customer relations creating a wide base of loyal customers. On the other hand, they are threatened by competitors. Therefore, they will have to ensure that they take the opportunity during the peak season to show professionalism. In this case, they will can be able to plan effectively by coming up with decisions that will help them in the long run. References Market Watch, (2011). Star Bulk CEO Spyros Capralos Discusses the Company and European Economy on the Fox Business Network, Retrieved from: http://www.marketwatch.com/story/star-bulk-ceo-spyros-capralos-discusses-the-company-and-european-economy-on-the-fox-business-network-2011-10-27 Star Bulk, (2012). A Global Shipping Company, Retrieved from: http://www.starbulk.com/en/home Star Bulk, (2012). Competitive Strenghths, retrieved from: http://www.starbulk.com/en/competitive-strengths

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