IMC-YY strategic choice under uncertain environment
|Keywords||Ship repairs Competition strategy Uncertain environment Differentiation strategy Strategy implementation|
IMC-YY is a joint venture new ship repair yard which put into operation in 2006; Sales revenue was growth more than 100% per year from 2006 to 2008. 2008 output value was reached to 830 million RMB and it has been ranked among top ten in Chinese ship repair companies this year. However, globe financial crisis broke-out from 2008 second half was affected badly and increasingly to globe economy, the United States, Europe and Japan have faded past flashy, the performance of new economy group have also drop from their peak. The marine industry has been drag into very poor situation and nearly six years of booming market concluded thereafter.The fierce market competition is inevitable in the state of the overall market downturn. Under such uncertain environment, how to break the constraints, how to grasp the opportunity to become a fateful ship-repair yard, selection of appropriate development strategies is become top critical.Leading by the theories of competing strategy, we have studied on IMC-YY Shipyard’s strategy analysis, strategy design, strategy selection and strategy implemenet. Through out the study of globe ship-repair environment, Shipyard internal environment and Shipyard’s various capabalities in detail, we have defined the opportunities and threats, strengths and weaknesses of Shipyard. Using SWOT analysis model with supplement of uncertain environment analysis, we have formed the corresponding strategy proposal of the company.According to actual situation of the company with combines the feature of ship repairing industry to orient company in the market, and forms the strategic guiding principle which is "Strengthen the Outstanding Feature, Making Changes with Steady, Expansion by Following Tide". By comparing the three basic competition strategy and combining company’s own feature and the location in its industry with company’s future development, it mainly adopts differentiation competition strategy to differentiate its products and management from other enterprise in order to have advantage position in the competition.Finally, according to differentiation competition strategy, Shipyard has to fulfil all requirements on the aspects of company organization structure, strategic management of human resource, production management and client’s relationship management, which ensures that the company can effectively implement the strategy.