Dubai, UAE, January 25, 2011: Drydocks World outlined and discussed the strategic vision, short and long term commercial and operational strategy to adapt to market conditions, at workshops for senior officials and key executives of its subsidiary companies recently. These were organized in Dubai, Singapore and Indonesia.
The move to build new business strategies was arrived at after an extensive review of the company’s resources including human capital and consolidated finances and commitments. Comprehensive plans have been made for administrative, commercial and operational streamlining to stem losses, ensure sustainable development and to attain profitability. These will be implemented in phases and will be fine tuned according to requirement during execution.
“We have arrived at wide-ranging plans for streamlining all aspects of our business and work as one integrated company, based on a thorough assessment over the last few months. Change management is ongoing and this will progress along with administrative, operational and commercial reformation. These changes will ensure that our growth path towards sustainability and profitability is smooth and without any hindrance. We are extremely optimistic that with the new changes, we will be able to maximize the influence of positive market signs and mechanisms and generate profits in the immediate future,” said Khamis Juma Buamim, Chairman of Drydocks World and Maritime World.
The workshops aimed to offer a detailed perspective of the new organizational model, which the company will be adopting. The new structure will comprise of a central board, management committees and executive teams responsible for operations across all locations and geographical areas. The thrust is on improving core processes including client management, contract management, project management and financial control. Appropriate systems and mechanisms will be promptly put in place to develop and achieve efficiency and productivity.
Source: Drydocks World