Analysis of Oman Shipping Company's Innovation and Strategic Approach

This report provides a comprehensive analysis of the Oman Shipping Company, focusing on its strategic management processes and approach to innovation. The report begins with an executive summary and introduction, providing a background overview of the company's establishment and growth within the maritime industry. It examines the nature of decision-making within the organization, emphasizing the participatory and democratic structure that values employee involvement. The report highlights the degree of innovativeness, showcasing the company's commitment to developing a world-class fleet and its initiatives to support maritime education and training. The discussion section delves into the strategic forces driving innovation, including external and internal stakeholders and micro and macro environmental factors. It analyzes the company's closed innovation model and its partnership with external entities. The report also explores the key success factors, sustainability issues, and offers recommendations for the future. In conclusion, the report provides a detailed understanding of Oman Shipping Company's innovation strategy, its impact on the industry, and its commitment to growth and sustainability.

Running Head: OMAN SHIPPING COMPANY
OMAN SHIPPING COMPANY
Name of the Student
Name of the University
Author’s Name

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Executive Summary:
Oman Shipping Company has always been associated with innovation, improvement and
success. Thus, the company has emerged significantly in its line of operation. The variety of
product it produces, coupled with other innovative market operations makes it a significant name
in the global shipping company. Thus, in this project report the basic company structure along
with its internal and external functioning would be through analyzed to understand the core
business process of Oman Shipping Company.

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Table of Contents
Introduction:...............................................................................................................................................3
Background Overview:.............................................................................................................................4
Nature of Decision making:.....................................................................................................................5
Degree of innovativeness:.......................................................................................................................6
Discussion:...................................................................................................................................................7
Strategic Forces behind the Innovation and Experimentation:...............................................................7
Analyzing the Internal Management structure of Oman Shipping Company:.......................................10
The Success Story of Oman Shipping Company:....................................................................................12
Key Success Factors Associated with Oman Shipping Company:...........................................................13
Sustainability issues associated with Oman Shipping Company:...........................................................15
Recommendation:.....................................................................................................................................16
Conclusion:................................................................................................................................................16
References:................................................................................................................................................18

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Introduction:
Part 1:
Oman is considered one of the leading nations in seafaring. It pioneered in this field as its
ancient civilization “Majan” had connections and relations with other civilizations around the
world, especially in Iraq, India and Europe. In Ras Al Jinz in eastern Oman, the remains of Reed
Boat, which was used for trading with India and dated back to over 4,500 years ago, were found
(Landen, 2015). Due to the Omani capabilities in ship and boat building, as well as their strong
sea navigation skills, ports and harbors in Oman were well-known around the world. Omanis
memorize the way of building ships by heart, as they have been practicing this craft and passing
it to new generations for a long time. Craftsmen produce traditional Omani fishing boats,
depending only on their memory, during a period of three to six months. Meanwhile, building a
dhow takes around six months, depending on its size. The most prominent wood used in
shipbuilding is teak, which is a tropical hardwood imported from India. Maritime has always
played a very significant role in the past, present as well as in the future to shape Oman.
Therefore keeping this in mind, immensely massive investments are being made and effort is
being made to help Oman emerge as a focal point of international maritime trade. Thus the Chief
Executive Officer of Oman Tariq bin Mohammed Al Junaidi has identified certain key business
strategic factors that have helped Oman Shipping Company emerge such a big name in the
shipping industry. . Oman Shipping Company aims to be the very first choice partner in maritime
transportation and extend itself in offering reliable, efficient and competitive shipping solutions
to all its clients. The efficient managerial team of Oman Shipping Company aims to incorporate

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well planned and innovative expansion strategies through its product development strategy,
expanding market share strategies, better retention and staff management strategies or over all
operation efficiency strategies. Oman Shipping Company has made it bigger and better through
its continuous expansion and meaningful partnership.
Background Overview:
Oman shipping company is the outcome of the Omani Government’s vision to build a
national vessel fleet which would be the sole in charge of catering to the maritime transportation
requirements of the nation’s rapidly growing industries like hydrocarbons, petrochemical or
mining. Thus the Oman Shipping Company (OSC) finally came into existence in the year 2003
(Riffai, et al. 2016). The commercial undertakings and operations of the company started in the
year 2005. It was completely a closed company wholly owned by the Government of the land,
and completely dedicated towards adding value in Oman’s liquefied natural gas (LNG) chain and
economy (Shipping company, 2019). Since its inspection, the company has witnessed huge
growth and expanded through innovations and diversifications. Beginning with transportation of
domestically acquired LNG cargoes to the international market, Oman Shipping Company
improved its operations and evolved to include huge fleets like very Large Crude Carriers
(VLCCs), Product Tankers, Chemical Tankers, LPG Carriers Very Large Ore Carriers (VLOCs),
Bulk Carriers, multi-purpose vessels and, lately, a containership as well (Rivas-Hermann, Köhler
and Scheepens, 2015). The constant diversification accompanied by smart technological
innovations has helped the company constantly stretch its potentials and create new bench marks
in its market operations. Today Oman shipping Company stands strong with its well-diversified
and very successful fleet comprising of more than 49 modern vessels with its headquarter in

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Muscat. It has successful emerged as the only name in the shipping transportation service
provider, closely aligning its business strategies and investment ventures with the strategic
maritime transportation interests of the Sultanate’s rapidly industrializing economy as. Tgere are
varied other shipping comoanies in Oman who have not made it that big yet but are emerging at
a steady pace like Sohar Shipping, Falcon Freight Connect, Muscat international Shipping &
Logisitcs LLC and many more.
Nature of Decision making:
Though it is considered to a relatively young shipping company yet in these few years it
has captured significant amount of market share. The internal functioning and atmosphere of the
company is very healthy and employee inclined. The employees are valued as most significant,
relevant and very necessary part of the organization’s decision making process. Thus there is an
active involvement of both the managerial staffs as well as the employees in the decision making
process making it a democratic and participatory organizational structure (Hsu, 2015). Oman
shipping company believes in maintaining a free and democratic structure of communication
pattern by ensuring that all its employees actively participate in the decision making process of
the firm. Often brain storming sessions are conducted specially with the new joiners and trainees
to ensure that they are equally motivated and feel that they for an integral part of the
organization. The organizational heads have recognized certain crucial steps in there
organizational decision making process which includes identifying the core problems, analyzing
on the problem to find the required areas that need to be addressed, constantly developing and
evaluating varied techniques to solve the problem, choosing from the best alternatives available,
communicating these decisions to the employees on a regular and systematic manner and finally

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employing the decision on a real time basis . Various forecasting tools are employed in the
decision making process by the firm like the decision tree which is basically a graphical
representation of the outcome or the consequences of the already action taken and decisions
made to help the organization bring in necessary changes in its decision making process. Apart
from decision tree other methods or tools employed in the decision making process includes
queuing models, distribution models, inventory models, pay-off matrix and game theory
Degree of innovativeness:
The core corporate objectives of the firm are to develop a world class fleet which is
equipped enough to cater to both international as well as local market operations. Oman
Shipping Company is equally attentive towards its client’s safety, and altogether develops an
efficient and sustainable shipping service which will ensure sufficient output to the national
economy of Oman. Thus expand and sustain in the maritime industry Oman Shipping Company
acquired necessary technical management assistance from a Japanese shipping giant Mitsui OSL
Lines Ltd (MOL) (Omanship.co.om, 2019). Another very important aspect of the innovativeness
taken up by Oman Shipping Company is to reprise the Sultanate’s lost grandeur and the image of
a seafaring nation. Thus aligning with these national goals, Oman Shipping Company initiated
the process of offering beneficial annual scholarships for high school graduates to enroll them
either in Nautical Science or Marine Engineering in maritime colleges in Oman, in UK or in
Australia and on completing of their respective courses these aspirants are offered with
rewarding careers and called on board to join Oman Shipping Company Vessels. Oman Shipping
Company also works very closely with International Maritime College Oman (IMCO) and
signed an agreement in the year 2013 to support rigorous onboard training of the latter’s fresh

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graduates as well as their interns in venture to pool the national talents groom them appropriately
to help them join the shipping industry .These innovative ventures have helped the company not
only resource handful of talents and bring innovative brains in the operations of the company but
also gives a larger emphasis of community welfare objectives by training and recruiting the
young minds in useful operations. Oman shipping Company encourages sound employee
management system along with ensuring sustainable lines of product development.
Discussion:
PART 2:
Strategic Forces behind the Innovation and Experimentation:
Oman Shipping Company has made it bigger and better through its continuous expansion
and meaningful partnership. Oman Shipping Company has been successful in taking delievery of
the world’s most advanced fuel energy LNG carrier named Adam LNG. (De Martino, et al.
2013). The Chief Executive officer of Oman Shipping Company Tarik Al Junaidi believes that
this innovative measure ensures better growth and expansion of the existing potentials of the
company, and stands as a driving commitment towards constant innovation. These strategic force
are ensured through the working of external stakeholders as well as internal stake holders and is
largely affected by macro and micro environmental factors. The micro environmental factors
include the suppliers and the existing market competitors. While the suppliers enables the
company to get an easy access to the raw materials required to assembled build the fleet the
macro environment generally establishes the economic, political, social and legal forces that
greatly affects the business performance of the firm.

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Experimentation is crucial in the innovation process. It helps in realizing potential faults
early, reinforcing new knowledge, reducing costs or preventing fatal errors later.
Experimentation is vital for innovation. The systematic testing of ideas enables a company to
create and refine its products. An idea is converted to a product through the process of
experimentation. In the past it was expensive to conduct experiments iteratively. But new
technologies like computer simulation and rapid prototyping allow experiments to be carried out
faster and at a much lesser cost. Innovation and experimentation is considered as a surefire way
to achieve growth and success of the company. Successful innovative strategies definitely go
beyond the act of idea generation. Companies generally tend to strategies innovative approaches
either through closed innovation model that is where the Research and Development (R&D)
department is exclusively involved in ascertaining what could be the possible successful
strategies involved for bringing the required innovation and through open innovation strategies
which provides an externalized view regarding the prospective acquisition and partnership that
the firm can benefit from. Oman Shipping Company S.A.O.C. is a closed joint stock company,
incorporated in 2003 and owned by the Government of the Sultanate of Oman through the
Ministry of Finance (80%) and Oman Oil Company S.A.O.C. (20%). The Company is involved
in Ship Owning, Ship Chartering and Ship Management activities through its Subsidiary
Companies namely; Oman Charter Company S.A.O.C. (OCC), Oman Ship Management
Company S.A.O.C. (OSMC), and Oman Container Line (OCL) S.A.O.C. Oman Shipping
Company has a crisp and focused vision to be the ‘first choice partner in maritime
transportation’. Arising out of this corporate vision, it has dedicated itself to offering the most
optimum seaborne shipping solutions which benefit its worldwide customers. OSC also
undertakes in-house technical management of 38 vessels to the exacting international standards

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through its ship management subsidiary, including the ship management of the bareboat tonnage.
OSC has an envious record of reaching the 8 million DWT mark in its operating capacity in a
relatively short span of about 13 years and at the same time handsomely contributing to the
national economy.
Thus to analyze the strategic forces implemented by Oman Shipping Company it is
important to understand the mission and vision of the organization. Oman Shipping Company
aims to be the very first choice partner in maritime transportation and extend itself in offering
reliable, efficient and competitive shipping solutions to all its clients. The efficient managerial
team of Oman Shipping Company aims to incorporate well planned and innovative expansion
strategies through its product development strategy, expanding market share strategies, better
retention and staff management strategies or over all operation efficiency strategies. This
162,000 cubic meters capacity vessel is built in Ulsan South Korea by Hyundai Heavy Industries.
The industry experts have also extended their innovative strategies in cutting down harmful
emission through strategic development of the latest Dual Fuel Diesel Electric (DFDF)
Technology (Poulis, Poulis, and Dooley, 2013). This technological innovation does not only
support environmental concerns by ensuring lean-burn principle in its operation, but also
increases engine efficiency of the vessels by reducing peak temperatures which altogether cuts
down the Nitrogen Oxide emission. This has also equally ensured reduction in rate of fuel
consumption. Oman Shipping Company has extended itself in offering customers in-house
management through their Oman Ship Management Company (OSMC), which is a fully owned
subsidiary of the parent company. OSMC has been credited as a fundamental reason for
sustaining such a fast paced growth and development of Oman Shipping Company. Going by the
statistical records OMSC at present is entitled to manage more than 27 varied LNG carriers, LPG

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carriers, product tankers as well as many such multi-purpose vessels (Omanship.co.om, 2019).
The Tanker Management Self Assessment Program (TMSA) is another significant strategy
adopted by Oman Ship Management Company to avoid accidents and reduce risk in the overall
operation of Oman Shipping Company. Another significant strategic expansion undertaken by
Oman Shipping Company was entering into an agreement with South Korea’s Daewoo
Shipbuilding & Marine Engineering (DSME) to initiate a project of building three Very Large
Crude Carriers (VLCC) as an integral part of their fleet renewal strategy (Ennis, 2015). These
carriers are expected to help Oman Shipping Company make strategic increase in the company
oil shipping revenue by a margin of 10%. . Oman Shipping Company which is owned by
ASYAD Group through these strategic innovations and experimentations aims to become a top-
ten global logistics hub ensuring rapid and unrivalled distribution capabilities cross the Middle
East. OSC’s fleet renewal program primarily emphasizes on the company’s commitment towards
achiever hiver quality of services, enhancing the global connectivity and altogether ensuring an
industry- leading competiveness in the global market scenario. However to bring in these
strategic innovative changes the firm needs to employ the most common change management
models to bring in the necessary innovation which is known as the Lewin’s change
management model. This model involves unfreeze, make changes and then refreeze activity.
Thus initially the management of the firm makes the employees aware of what crisis or problem
the firm is facing, and tries to break the existing structure or pattern of operation. This is a very
crucial step in incorporating the new changes in the system as well as make the employees aware
of the existing problems. Then the next step is to gradually bring in the innovation as well as
maintain constant communication with the employees to ensure that the employees are very well
aware of the changes that are been incorporated by the organization and the last and final step

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includes on the part of the management to ensure that all the new innovative strategies are
employed and maintained by the firm on a regular basis so that the firm is equipped enough to
reap off the benefits of these innovative changes.
Analyzing the Internal Management structure of Oman Shipping Company:
The core potentials of an organization is only revealed when it gets maximum support
from the internal management which helps the employees understand their own strengths and
weaknesses and consecutively work on it. It has been identified that the core strength of Oman
Shipping Company is incorporated in its highly competitive team of professionals with
unmatched skills pertaining to particular fields of expertise and an unflinching support and
guidance from the Board of Directors, the executive management team. The professionals’
altogether is responsible to keep a regular check on the company’s Liquid Bulk Gas, Dry Bulk
and Liner Business, among other administrative, accounting and human resource functions.
Oman Shipping Company provides equal emphasis in investing and developing the skills and
expertise of its crew and engaging more young talents encouraging them to join the profession. It
ensures high productivity of its employees not only through highly attractive remuneration
packages but also recognizes the importance of maintain crew competency and motivation to
keep its mariners performing at the top of their game. A rewarding workplace environment
coupled with expert guidance gives the employees or aspirants rapid career advancements and
global exposure in the industry. This is the central reason why Oman Shipping Company though
being relatively young in its operation has already earned its reputation and is coined as
employer of choice among varied other shipping companies present in the market. It conducts

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varied safety drills for its employees to ensure utmost safety of operations. Thus the internal
management structure of Oman Shipping Company primarily focuses on:
Employee motivation:
Oman Shipping Company puts in a lot of emphasis on constantly motivating its
employees through varied on the job as well as off the job training facilities and employee
interactive programs. A motivated employee is the ultimate asset to any organization. There are
several reasons why employee motivation is important. Mainly because it allows management to
meet the company’s goals. Without a motivated workplace, companies could be placed in a very
risky position. Motivated employees can lead to increased productivity and allow an organization
to achieve higher levels of output. Imagine having an employee who is not motivated at work.
They will probably use the time at their desk surfing the internet for personal pleasure or even
looking for another job. This is an ultimate waste of time as well as resources for the company.
The ways to boost employee motivation which is primarily adopted and incorporated by Oman
Shipping Company in its working includes: Improve communication. The easiest way to increase
employee motivation is by having positive communication at the workplace. Not relying only on
emails but by making sure they talk to their employees in person and even on a personal level, if
possible. Try setting aside some time each day to talk with employees or you can join them
during coffee breaks instead of sitting at your desk. By doing so, you actually make employees
feel as though you are part of the team; a leader instead of just the boss. Employees also want to
see the company that they are working for succeed. Many have excellent ideas, ranging from
money saving to operational improvements. Management must make an effort to take some time
to ask and listen to suggestions. Nothing is more worthwhile than feeling valued. Value

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individual contributions Management should ensure their employees on how their individual
efforts and contribution plays an important part of the company’s overall goals and direction.
Employees will take pride and be engaged in their work if they are aware how their efforts create
an impact the organization; regardless of how big or small their contributions are. Management
does not have to reward their employees with gifts every single time they did a good job at a
task. At times, a simple “Thank You” or “Great job” will suffice. These meaningful words
acknowledge effort, build loyalty and encourage people to work even harder
The Success Story of Oman Shipping Company:
Oman Shipping Company today has subsidiaries which operate on a humongous basis.
For instance Oman Ship Management Company SAOC, established in 2004 (Omanship.co.om,
2019) which mainly aims at providing technical assistance in the operation and management of
Oman Shipping Company in order to expand its national fleet. SAOC is also entitled to ensure
highest standards in the field of navigational safety coupled with operational efficiency, business
efficiency as well as environmental responsibility. Another subsidiary requires a mention is
Oman Charter Company which is also fully owned by Oman Shipping Company. This unit is
responsible to ensure the group’s expanding charter and various other broking activities not only
limited to group-owned vessels but third party ships as well. Oman Container Line (OCL) is
another subsidiary unit of Oman Shipping Company, responsible to extend a container feedering
service namely the Gulf Express Service (GEX) specifically between places like Jebel Ali in the
UAE and Sohar, Duqm and Salalah in Oman and is existing as a third party feeder operator for
Oman Shipping Company. Oman Shipping Company altogether caters to make a $180 million
profit in the year 2015 (Omanship.co.om, 2019). Oman Shipping Company to expand further

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signed an agreement with Shell International to become an active provider of ships to transport
oil derivates. Shell rents these ships for a tenure of 10 long years which altogether assures a long
term profit generation source for Oman Shipping Company and thus adds to its financial
credibility. Oman Shipping Company takes constant pride in its association with some of the
biggest and most prestigious companies in oil and gas production, or refining and petrochemicals
and metallurgical industries of Oman as their client and key business partners namely Vale,
Sohar Aluminium, SAIL, Nobel Chartering, Mitsubishi Corporation along with being partners of
a number of leading international trading conglomerates and business organizations.
Key Success Factors Associated with Oman Shipping Company:
No matter how big or small a company is, there are certain crucial factors which the
company always tries to abide by to remain significant in its business market. These factors or
attributes are regarded as the key to success factors and are considered immensely important by
the business firm (Audretsch and Walshok, 2013).
Maritime has always played a very significant role in the past, present as well as in the
future to shape Oman. Therefore keeping this in mind, immensely massive investments are being
made and effort is being made to help Oman emerge as a focal point of international maritime
trade. Thus the Chief Executive Officer of Oman Tariq bin Mohammed Al Junaidi has identified
certain key business strategic factors that have helped Oman Shipping Company emerge such a
big name in the shipping industry. Thus the key factors can be analyzed as: a significantly good
market performance of the company in the shipping sector as well as a well-defined
improvement in the rental and production market of giant oil tankers which in turn altogether
helps to increase the overall gas supply in the global market. Exclusive technical innovation and

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expertise of Oman Shipping Company is also another significant reason for its huge success.
Another significant reason that can be attributed to the success of the company is its potential
contracts of long-term nature for the company takers which attribute to more
than six percent of the total vessels produced. The contracts generally span
from 15 to 20 years with large international companies, along with varied
reputable and significant local companies, such as Oman LNG and Oman Oil
Refineries and Petroleum Industries (Orpic) Oman Trading International (OTI),
Salalah Methanol Company, Oman Vale Company, and Sohar Aluminium,
Transparency in market operation supported is another significant reason
that the company has such high credibility among its stake holders. The
company is also associated with the noble and positive task of developing
the young talents of the nation by accommodating more than 20-30 young
Omanis who are annually sent to study navigation and marine engineering,
in reputed colleges like the International Maritime College Oman (IMCO) in
Sohar. The college also signed an agreement with OSC to train its students
on board the company's ships. In compliance with the corporate social
responsibility of the firm, Oman Shipping Company is responsible to train
significantly large number of graduates of IMCO, where OSC pays the
expenses of their field training, which could last a whole year, after which
the student gets the Certificate of Competency, as part of a college diploma
program; to assist the college in the formation of an elite college talented
qualified Omani navigators and engineers who are preparing to enter the
field of maritime employment. Oman Shipping Company does significantly contribute to

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the lines of supporting and uplifting the cause of sustainable development by bringing a holistic
approach to their business operations. Oman Shipping Company incorporates the concept of
sustainability as their bedrock of corporate philosophy company is also recorded as one
of the most prominent and significant contributors and supporters of Oman
Youth Sailing Program, in cooperation with Oman Sail for a common goal,
namely the development of sailing in Oman as part of the heritage of the
Sultanate's maritime past. Apart from these significant measures Oman
Shipping Company has also significantly supported in the growth of small
and medium sized business houses and have made significant and
investment in order to raise the In-Country Value (ICV) . Oman shipping
company has also been a pioneer in helping the women of the nation to
acquire economic independence and recruiting them as their employees.
Specifically young students are recruited as these fresh talents have greater
exposure to the current market understanding and are better equipped to
serve the organization. Thus in a nut shell the key factors to success for
shipping industry surrounds around building up the fleet profile, find
appropriate product and market attractiveness followed by necessary
diversification of business roles and proper financial risk assessment.
Sustainability issues associated with Oman Shipping Company:
As more and more companies emerge in the market the growing competition often blind
the companies who tend to easily forget their sole responsibility of abiding by certain
environmental safety guidelines in the rat race of winning the market share. However a

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responsible company is which is not only bothered with its profit figures but is equally bothered
of how it impacts the society and the surrounding it operates. Oman shipping company operates
rather its own existence surrounds one of the primary natural resources which is water. Therefore
it is very important for the company to ensure that the natural resources are very well maintained
and kept safe and clean. This is ensured through strict observation on controlling water pollution
levels and kept it under control to help ensure to sustainable lines of development. Thus when
the issues of sustainable development are always in discussion and in debate Oman shipping
company has employed real time techniques in helping the firm achieve its sustainable goals of
development. Oman Shipping Company does significantly contribute to the lines of supporting
and uplifting the cause of sustainable development by bringing a holistic approach to their
business operations. Oman Shipping Company incorporates the concept of sustainability as their
bedrock of corporate philosophy (Omanship.co.om, 2019). Corporate Social Responsibility
(CSR) is a fairly new philosophy to the shipping industry. The shipping industry, by its very
nature, is the most globalised and highly regulated industry of all. Compared to land-based
industries, the shipping industry has a long list of stakeholders in its supply chain. This creates
many difficulties for the shipping industry when attempting to satisfy the punitive demands of all
its stakeholders. The broad aims of this study are to see if the shipping industry's CSR
requirements with regard to seafarers' welfare are met and how maritime security initiatives give
seafarers a difficult time. The study used qualitative case study approach and it's not part of any
ongoing or past research. The results show that seafarers are very often criminalized in the name
of maritime security for situations that are not their fault. They also reveal that the CSR schemes
of many shipping companies are merely window-dressing. Seafarers, as a major stakeholder and
an important working part of the shipping industry, are exposed to unnecessary risks and extra

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work for shareholders' financial benefit. While the shipping industry attempts to improve its
image through seafarers' efforts, this extra workload is reflected neither in the seafarers' contracts
nor in their pay slips. Shipping is an internationally governed body by IMO with several
regulations for protection of environment (MARPOL), safety of workers (SOLAS), welfare of
shipping professionals (ILO-MLC) with whom Oman Shipping Company works in close
collaboration. Moreover being under the authorities of the government it lends special care
towards adapting fare means of practices. The company ensures this by not only ensuring clean
and sustainable ways of doing the shipping business but also enforces on using cost-effective as
well as clean fuel technologies for shipping , making use of energy efficient engines, and strictly
abiding by the local as well as international marine time regulation. The company ensures to
completely abide by legislation on greenhouse emission reduction, puts very strict control on
unauthorized discharge of chemical and synthetic materials like ballast, safe reception as well as
disposal of ship waste and sludge and incorporates varied such other rules and regulation
mandated by International Maritime Organization. Oman Shipping Company thoroughly abides
by the notion of corporate social responsibility to help sustain and grow in its competitive
environment thus greatly abiding by the sustainability norms.
Individual Reflection:
Oman Shipping Company has set a true example of what innovation and technological
revolutions can do to a business. It has significantly changed the very aspect of shipping industry
or marine trade industry. It has exceptionally extended support in developing entrepreneur who
have creative outlook and take a smart approach to do business as well as help the aspiring youth
get good quality education through their scholarships. It has also helped in designing

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significantly sustainable models of business development. Personally through this assignment
analysis I have acquired a good insight and understanding of how technology and innovation
help business firms grow and sustain in this dynamic environment. It also enables us to
understand what are the cost effective measures of doing business which is sustainable to the
environment. Entrepreneurship is an art as well as science which incorporates the application of
practical skills with established theories and Oman Shipping Company has set real examples
with its apt business strategies and innovative thinking how bringing bigger changes starts with
implementing bigger ideas.
Recommendation:
When the analysis revolves around Oman Shipping Company it is very necessary to understand
one single thing that it has already built a very reputed name in its business periphery and
therefore needs to be very cautious to follow just and fair business practices to help the firm
grow as well as adopt to the changing business needs of this dynamic sector. Oman shipping
Company has always innovated and experimented with its production process to bring in new
innovations in its floating vessels as well as remain significant amidst the range of competitors.
With an unbeatable internal organizational structure coupled with excellent brains and skilled
labour the company is constantly witnessing share growth rate. Thus in a nut shell the
prime factors to success for shipping industry surrounds around multitude of
factors like building up the fleet profile, find appropriate product and market

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attractiveness followed by necessary diversification of business roles and
proper financial risk assessment.
Conclusion:
Oman is surrounded by the waters of the Arabian Gulf, the Gulf of Oman and the Sea of
Oman, from three directions: north, east and south. Located in the Arab Peninsula, Oman can
also be considered a peninsula, which is why lots of Omanis have turned to different sea-related
jobs. Oman Shipping Company has also significantly supported in the growth
of small and medium sized business houses and have made significant and
investment in order to raise the In-Country Value (ICV) . Oman shipping
company has also been a pioneer in helping the women of the nation to
acquire economic independence and recruiting them as their employees.
Specifically young students are recruited as these fresh talents have greater
exposure to the current market understanding and are better equipped to
serve the organization. Oman Shipping Company has been a rising name in the global
shipping industry due to its immensely high technological innovations coupled with a sound
team of employees who seem to possess a very critical understanding of the marine market and
altogether help to contribute actively in making the company bigger and better. Therefore in this
company analysis report there is a clear understanding of the internal and external performance
parameters which are in turn discussed in details to provide a detailed over view of the
organizational functioning of Oman Shipping Company and how it plans and intends to innovate
and develop further in the coming years. The main analysis of this discussion includes a
background analysis of the shipping business in Oman that has existed all these years and how it

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has morphed into what it is today, followed by a close over view of the organization’s decision
making process and the innovative methods adopted by the firm to survive in the dynamic
business environment. It also takes into account the key success factors as adopted by the
organization as well as throw light on how Oman Shipping Company has abided by the
sustainability issues to protect biodiversity.

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References:
Audretsch, D.B. and Walshok, M. eds., 2013. Creating competitiveness: Entrepreneurship and
innovation policies for growth. Edward Elgar Publishing
Bocken, N. M., Short, S. W., Rana, P., & Evans, S. (2014). A literature and practice review to develop
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