Strategic Analysis of the "Norsafe AS"
|2.2.||Norsafe’s business strategy||5|
|2.3.||Peer group review||5|
|3.1.||Key drivers of changes||6|
|3.3.||Porters five forces||7|
|Summary of Porters five forces||7|
|3.4.||The industry`s life cycle||8|
|3.5.||Peer group analysis||8|
|Summary of peer group analysis||8|
|3.6.||Critical success factors||8|
|4.1.||Value chain analysis||9|
|4.3.||SWOT - Part conclusion||10|
|7.||Suggestion for further study||13|
Now then economic situation is critical in maritime sector and lot of companies must rethink their strategies to survive time period of poor market and to find their own competitive advantage to save their position for the future market.
Norsafe is an ancient market player with brand reputation, their own customer segment and market network. Those aspects can be a good partly competitive advantage for the company.
After Norsafe analysis we are able now answer to our nominated research questions. Norsafe can compete in the years ahead if they introduce the market with new innovations and make beneficial corporations with other involved participants on this market segment. And the company`s competitive advantage is their new innovation of life saving equipment which could be used on Artic waters and is in accordance with leading regulations.
7. Suggestion for further studies
For the future studies it would be worth to take a look on broader company`s competitor segment and analyse with which companies to make corporation to get an advantage and increase Norsafe`s profit from those kind of deals. Or even not only with competitors, but also other companies which somehow is connected to the Maritime industry.
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