Strategy maps success stories. Case III- Rotomac Shipping INC
This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.
Strategy maps success stories. Case III- Rotomac Shipping INC
Rotomac Shipping Inc, a leading shipping corporation based out of Panama, had an enviable record as a efficient shipping corporation with a strong fiscal performance spanning across decades. However in recent years, increasing oil prices and tendency of suppliers to lay stress on unconventional shipping routes has started to take an effect on both its profitability and operation efficiency. The management of RSI led by Clark Smith, was striving to streamline the operations for the last 2 years and yet were not able to align their strategic goals with operational plans. Exasperated at the continuous failure to structure the working, the management finally decided to take help of Zelcosm Consulting, a core BPR firm specializing in the shipping industry.
In their very first meeting with Clark, executives from Zelcosm asked the management to devise a balance scorecard for the company and also design overall and functional strategy maps. After series of deliberations, a strategy paradigm was identified for RSI and series of strategy maps were devised to present it in a manner that different stakeholders can identify what was expected from them.
With the help of strategy maps and some guidance form industry consultants, RSI was able to streamline its operations and increase work efficiency by a substantial level within a year. The company incidentally saw a 23 percent increase in its net profits while total sales increase hovered around a meager 8 percent and this fact was a testament of the level of profitability that the company was able to derive out the usage of strategy maps.
