They get all their ship manufacturing outsourced therefore we cannot say that its operations are concerned with manufacturing of ships.
Management of RM at beginning economic downturn determined that time of market decline will last for about three-month. These assumptions were wrong and management does nothing to prepare the company for a new market situation. Financial statements for 2009 do not indicate company’s 711 million USD outstanding because this project is being financed by Mother Company instead of RM.
In the following chapter we discuss and analyze how strategic vision of RM combined with its operational strategy and quality of people has proved to provide a sustainable competitive advantage; enabling RM to make right decisions at the right time. The focus will to understand RM focus on quality and different aspects of its operations.
Rickmers has always emphasized on quality from the very initiation of its operations. There is a Quality control department which has a number of responsibilities. The quality assurance is not only limited to conduction of operations but the emphasis on a stable financial performance and conduct of sound operations are also important quality variables. The most important aspect of operational performance at Rickmers is certification of quality from highly respected authorities. On 20th February 2008 Rickmers received the Singapore award organized by the Business Times in affiliation with Singaporean government. This was a merit commendation in the best investor relations category. This award signifies the long standing corporation disclosure transparency of Rickmers.
Increasingly the quality of operations is being judged by the affect on environment. This is usually termed as the corporate social responsibility. This category of disclosure is usually used as a marketing tool by companies but in fact is an operational aspect of doing business. Rickmers Marinetime has displayed