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Analysis of Service Industry Case

In: Business and Management

Submitted By mkhaku
Words 1746
Pages 7
1. Introduction

This paper presents and discusses how an entrepreneur in this ever changing world strives to become an international firm. This case study of an Omani firm Renaissance Services SAOG (hereafter, Services) explains and shows us the growth on international scale of a family owned business. In order to understand the case, several key components were identified, and were analyzed to see its text book validity. Each component is critically analyzed as the case study progresses.

1.1Introduction of the Firm

As an entrepreneurial firm in 1996, Services has progressed immensely across the globe. Its chairman and founder Samir Fancy had a crystal clear vision and by disclosing it to every Tom, Dick and Harry of the firm, Services gradually progressed on international level. The firm is primarily an oil and gas industry services company, and is listed on the Muscat Securities Market in Oman. It has an excellent offshore fleet of vessels, and is counted among the world’s top ten in providing global oil and gas industry service. According to its official website (http://www.renaissanceoman.com), Services has over 12,000 employs, operating in over 16 countries. The 2012 revenue of the firm was US$ 0.67 Billion. Apart from this sector, Services also engages in several other services related sectors, such as marine engineering, media communication, and also engages itself in education and training. The firm also engages itself in Corporate Social Responsibility, by improving the standard of living of local community by promoting local employment, investing in local talents and supporting good causes in the community. It also invests 1 percent of their earnings in CSR programs. Summing this all, we understand that it comes to no surprise that Services, in order to expand globally didn’t keep all eggs in one basket.
1.2 Key Components & Methodology...

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