The TTS Marine Group
Write a 8 pages paper on TTS marine group. The company’s resources are focused on design and engineering in addition to assembly, testing, and training. The core values of the company include integrity, openness/honesty, loyalty, and initiative.
With branches and alliances with companies across the world including Germany, China, Korea, Finland, Vietnam, and Italy TTS creates and supplies innovative systems and equipment .to the .Marine and Offshore industries. TTS works closely .with customers to devise intelligent and innovative handling solutions, .TTS offers the expertise to improve productivity, quality, and system capacity. A 40-years history of commitment to moving the industry forward has secured our .customer’s trust. With these accomplishments in its history, the TTS marine group wants to enter into the mega yacht business. The demand for recreational boating was high during the 1990s and such an opportunity should be exploited by the TTS marine group. The demand for luxury yachts is in demand but there are various factors such as increased regulation over safety and protection of marine life and increased competition from the US manufacturers makes it challenging for the TTS marine group to create a niche for itself.
According to Fred R. David, alternative strategies have to be derived from the firm’s mission, vision, objectives, external audit and internal audit and the consistencies with past strategies for an organization. With the visions and mission of the company already stated clearly, the next step is to conduct an internal and external environment analysis. External environment analysis: to have a good understanding of the external environment first extensive market research has to be conducted. The market research should comprise of all the aspects of the industry like the competitors, update technology, consumer base, and demography, sources of finance, skills, and competencies of the competitors and promotion campaigns used.