Ansoff Matrix for the Most Renowned Shipping Company in the World Case Study

Ansoff Matrix for the Most Renowned Shipping Company in the World - Case Study Example Various experts have provided different definitions of strategy and strategic management. Firstly, Alfred D. Chandler and   according to him â€Å"Strategy is the determination of the basic long term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.†Ã‚  Secondly, Ansoff and McDonnell have defined strategic management as â€Å"A systematic approach for managing strategic change which consists of the positioning of the firm through strategy and capability planning and real-time strategic response through issue management.† (Cole, 2003) Strategic management is very important to identify various options that can be used as effective strategy in the process of achieving overall business objectives. There are several tools and models that are used by business organizations in order to identify various strategic options. This report deals with the identification of potential str ategic options in the context of Norden, in order to find out these options a strategic tool such as Ansoff matrix critical analysis and implementation of a theory is used. Moreover, a recommendation which is regarding the technology-driven change in the business of the organization includes the possibilities of such strategic changes driven by new technology.Dampskibsselskabet Norden, one of the oldest shipping companies in the world, was established in the year 1871. It is an independent shipping company that has its presence in different parts of the world. The company headquarter is located in Denmark. Apart from Denmark, Norden has its offices in Shanghai, Singapore, Annapolis, Mumbai, and Rio de Janeiro. The company mainly deals with tankers and dry cargo and is one of the largest organizations in the dry cargo industry. Moreover, it is one of the biggest operators of Panamax and Handymax bulk carriers. Recently the company has entered the segment of Post-Panamax. In addition to dry cargo, the company is present in the tanker segment and has almost 36 tanker vessels (DS- Norden, n.d.). There are three business departments of the operational activities of Norden which are tanker department, dry cargo, and technical department. Technical department operations are in the technical management of crewing, fleet, inspections and purchase, safety and environment.