Strategic & Leadership Transformation
Executive Ship Management (ESM)
Executive Ship Management (ESM) is a premier management company valued by its clients and partners in the industry for its high end professional expertise and services. It is headquartered in Singapore with offices in 11 cities across the world. Executive Ship Management is one of the core establishment and genesis for the founders of the Executive Group of Companies which comprises of six other Marine Services related Businesses.
External Challenges:
- Competitive landscape
- Economic downturn
- The Oil & Gas sector too has recently come under a lot price pressure and has lost its high price
Internal Challenges:
- Strategic direction for the next wave of business and staying relevant
- Lack of systematic coordination, every division or department works in a silo manner.
- Occasional operational/safety challenges with the crew
- Insufficient structured growth and development for personnel, no structured career path, and succession plan in the organization.
- Implementation of Strategic Transformation framework to Develop, and Execute strategy
- Introduced comprehensive Strategic programs to each subsidiary :
–Developed Strategic Directions for the subsidiaries
–Aligned them with Group Strategy
–Cascaded into all BU & SU
–Development of Personal Scorecards - Set-up of OSM (Office of Strategy Management)
- Introduced organization wide communication program
- Developed Governance process for the Board of Directors to manage performance of the Group
- Developed KPI’s to track performance
- Yearly Alignment sessions to identify synergies and collaborate on initiatives.
- Executive Group was established and 6 subsidiaries aligned to it
- Revenue Increased vs previous years. number of ships managed increased from 97 in 2009 to 153 in 2012
- This is in line with the customer satisfaction and increased visibility brand image as a competent ship manager
- Improvement in company’s vetting, Port state, and other Quality and Risk management KPIs by our ships trading across the international water and also the audit results of the shore offices by various chartering and regulatory bodies.
- Achieved zero spills and zero category A & B incidents across the field.
- Vetting performance of 3.75 observations exceed the industry standards.
- Assessment & Identification of Leaders for each Subsidiary
- Talent Development Program was developed for management of high potential executives in the group
- The result is due to the consistent and systematic training and development programme initiated as a result of Strategy Execution Framework based on Kaplan & Norton’s Execution Premium
