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Ezra Holdings: Entrepreneurship and Capability Building
By Wee Beng Geok, Yvonne Chong & Rajeev Batra |
| Publisher Ref No: | ABCC-2009-007 | Pub/Rev Date: | 2009 |
| Industry: | Marine & Shipping | Case Length: | 21 pages |
| Teaching Note Ref: | - | Teaching Note: | - |
| Organisation: | Ezra Holdings Ltd | Period Covered: | 1999 - 2009 |
| Country: | Singapore | Level: | Undergraduate/ Postgraduate |
| Publisher: | The Asian Business Case Centre, Nanyang Technological University |
Abstract
This case discusses the growth path of a Singapore-based company in the marine services business. Started in 1992, the entrepreneurs were able to leverage on their in-house competencies and knowledge of the regional oil and gas (O&G) sector to grow the firm into a global offshore support services company with market capitalization of US$1.2 billion by mid-January 2010.
Ezra's founders had deep roots in the regional marine industry. The firm started out as a small ship management outfit managing and operating offshore vehicles for third parties. During this time, it was able to build the essential capabilities needed to operate efficient offshore support services for O&G exploration and production projects of major global firms in the industry. Not only were the entrepreneurs able to build the required capabilities in key technical and organizational areas but to drive growth they had to able to scale their operations. This was achieved through acquisitions, partnerships, joint ventures as well as leveraging on industry's talent pool by recruiting industry veterans.
Management's funding strategies led to public stock listings in both Singapore and Oslo stock markets and provided the necessary funds to purchase offshore production vessels in this highly capital-intensive sector.
In mid-2009, Ezra's management announced the development of a Deepwater Subsea Services division as the next growth engine to power the Group's earnings for the next decade. Ezra faced new competitive challenges in this new business segment from well-established global offshore integrated support services providers. What competencies must the organization build to compete in this highly global segment of the business? How should it go about acquiring these new capabilities while maintaining efficient operations and meeting the targets for its Next Lap Growth Strategy?
This case was commissioned by the Maritime and Port Authority of Singapore (MPA).
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Issues: Assembling resources - financial and human capital; Organisational culture; Linking human capital management and business strategy
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