Harvard Case - Fairstar Heavy Transport (A)
"Fairstar Heavy Transport (A)" Harvard business case study is written by Guhan Subramanian, Rhea Ghosh. It deals with the challenges in the field of Negotiation. The case study is 26 page(s) long and it was first published on : Feb 18, 2011
At Fern Fort University, we recommend that Fairstar Heavy Transport (FHT) pursue a strategic alliance with a major Chinese shipbuilding company to expand its operations in the Asia-Pacific region. This alliance would provide FHT with access to new markets, manufacturing capabilities, and financial resources, while also mitigating the risks associated with operating in a foreign country.
2. Background
Fairstar Heavy Transport (FHT) is a global leader in the heavy lift shipping industry. The company operates a fleet of specialized vessels that are used to transport large and complex cargo, such as oil and gas platforms, wind turbines, and construction equipment. FHT has a strong presence in the North Sea and the Americas, but it is looking to expand its operations in the Asia-Pacific region.The Asia-Pacific region is a major growth market for the heavy lift shipping industry. The region is home to some of the world's largest economies, and it is experiencing a boom in infrastructure development. This is creating a strong demand for heavy lift shipping services.
However, operating in the Asia-Pacific region is also challenging. The region is home to a number of different cultures and languages, and there are significant regulatory and legal differences between countries. This can make it difficult for foreign companies to operate in the region.
3. Analysis of the Case Study
There are a number of different options that FHT could consider to expand its operations in the Asia-Pacific region. One option is to establish a wholly-owned subsidiary in the region. This would give FHT full control over its operations, but it would also be a significant investment. Another option is to form a joint venture with a local company. This would allow FHT to share the costs and risks of operating in the region, but it would also mean that FHT would have to share control of its operations.A third option is to form a strategic alliance with a major Chinese shipbuilding company. This would give FHT access to the Chinese shipbuilding industry's expertise and resources, and it would also help FHT to mitigate the risks associated with operating in a foreign country.
We believe that a strategic alliance with a major Chinese shipbuilding company is the best option for FHT. This alliance would provide FHT with the following benefits:
- Access to new markets. A Chinese shipbuilding company would have a strong network of relationships in the Asia-Pacific region. This would give FHT access to new markets that it would not be able to reach on its own.
- Manufacturing capabilities. A Chinese shipbuilding company would have the manufacturing capabilities to build the specialized vessels that FHT needs to operate in the Asia-Pacific region. This would allow FHT to expand its fleet without having to make a significant investment in new vessels.
- Financial resources. A Chinese shipbuilding company would have the financial resources to support FHT's expansion in the Asia-Pacific region. This would allow FHT to invest in new vessels and equipment, and it would also help to mitigate the risks associated with operating in a foreign country.
4. Recommendaations
We recommend that FHT pursue a strategic alliance with a major Chinese shipbuilding company. This alliance should be structured as a joint venture, with FHT owning a majority stake in the venture. The joint venture should be responsible for all of FHT's operations in the Asia-Pacific region.FHT should begin by identifying potential partners for the alliance. The company should look for a partner that has a strong track record in the shipbuilding industry, a strong network of relationships in the Asia-Pacific region, and the financial resources to support FHT's expansion.
Once FHT has identified a potential partner, the company should begin negotiations. The negotiations should focus on the following key issues:
- The scope of the alliance. The alliance should be structured to give FHT access to the Chinese shipbuilding industry's expertise and resources, while also allowing FHT to maintain control of its operations.
- The ownership structure of the joint venture. FHT should own a majority stake in the joint venture, but it should be willing to give the Chinese partner a minority stake in order to secure the partner's support.
- The management of the joint venture. The joint venture should be managed by a team of executives from both FHT and the Chinese partner.
- The financial terms of the alliance. The financial terms of the alliance should be fair to both parties. FHT should be willing to share the costs and risks of operating in the Asia-Pacific region, but it should also be entitled to a fair share of the profits.
5. Basis of Recommendaations
Our recommendations are based on the following considerations:- Core competencies and consistency with mission. FHT's core competency is the heavy lift shipping industry. A strategic alliance with a major Chinese shipbuilding company would allow FHT to leverage its core competency to expand its operations in the Asia-Pacific region. This is consistent with FHT's mission of being the global leader in the heavy lift shipping industry.
- External customers and internal clients. A strategic alliance with a major Chinese shipbuilding company would benefit FHT's external customers by giving them access to a wider range of services and a more reliable supply chain. It would also benefit FHT's internal clients by giving them access to new markets and manufacturing capabilities.
- Competitors. A strategic alliance with a major Chinese shipbuilding company would give FHT a competitive advantage over its competitors. FHT's competitors would not be able to match FHT's access to the Chinese shipbuilding industry's expertise and resources.
- Attractiveness ' quantitative measures if applicable (e.g., NPV, ROI, break-even,payback). A strategic alliance with a major Chinese shipbuilding company would be financially attractive for FHT. The alliance would give FHT access to new markets, manufacturing capabilities, and financial resources. This would allow FHT to increase its revenue and profits.
6. Conclusion
We believe that a strategic alliance with a major Chinese shipbuilding company is the best option for FHT to expand its operations in the Asia-Pacific region. This alliance would provide FHT with the access to new markets, manufacturing capabilities, and financial resources that it needs to succeed in the region.7. Discussion
There are a number of other options that FHT could consider to expand its operations in the Asia-Pacific region. However, we believe that a strategic alliance with a major Chinese shipbuilding company is the best option for the following reasons:- It is the most cost-effective option. A strategic alliance would allow FHT to share the costs and risks of operating in the Asia-Pacific region with a Chinese partner.
- It is the least risky option. A strategic alliance would allow FHT to mitigate the risks associated with operating in a foreign country.
- It is the most likely to succeed. A strategic alliance would give FHT access to the Chinese shipbuilding industry's expertise and resources. This would increase FHT's chances of success in the Asia-Pacific region.
8. Next Steps
If FHT decides to pursue a strategic alliance with a major Chinese shipbuilding company, the company should take the following steps:- Identify potential partners. FHT should begin by identifying potential partners for the alliance. The company should look for a partner that has a strong track record in the shipbuilding industry, a strong network of relationships in the Asia-Pacific region, and the financial resources to support FHT's expansion.
- Begin negotiations. Once FHT has identified a potential partner, the company should begin negotiations. The negotiations should focus on the key issues discussed in this report.
- Close the deal. Once the negotiations are complete, FHT should close the deal and form the joint venture. The joint venture should be managed by a team of executives from both FHT and the Chinese partner.
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Case Description
In 2009, the small heavy marine transport company Fairstar entered into bidding on one of the largest contracts in the history of the industry. Chronicles the company's year-long tendering process, leading up to a final make-or-break meeting.
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