There are five major steps that every business whether small or big enterprise might face in their growth and development. The first stage is usually existence. Basing on the case of Ezra Holdings, the initial developers of Ezra Holdings had created adamant roots in the marine business venture in Singapore. It has been clearly seen that Ks Lee had begun out as a ship and an apprentice in their quest for an apprenticeship in the year 2005. By then he used to work as a seafer with a second Mate certificate of competency. From this, it is evident that the founders of Ezra Holdings were looking for ways to exist in the market. The quest for existence is important as it tries to find out ways of getting hold of customers and how to deliver goods or services that the business is about.
The second stage in Ezra Holdings growth and development as seen is survival. Through this juncture, business shows that it is workable. Here the business has to have enough customers and depicts that all customers are well satisfied by the offered services. Here the problem in Ezra Holdings case was between expenses and revenues and not about their existence. During the 1980s and 90s, it was a duration that the firm experienced stagnation in the OSV market coming from the low prices in a clinical O and G industry. Further survival problems were experienced in the year 1997 during the 1997 Asian crisis about currency.
The third stage of growth and development as presented in the case is a success. The owners of Ezra Holdings were torn between exploiting the firm’s achievements or keep the business stable and profitable. Success was the next stage for the company as they started with only one vessel in the year 1999. By the year 2003, the company already had six ships. Moreover, the company was also successful in other factors as it operated ship management services for other third party channels.
Growth and development are also depicted in a period termed as the seizing moment. This is the fourth stage of their growth and developments, and it can be referred to as the take-off point. This was realized at the end of the year 2002. The O&G Company was performing well as the oil prices had raised to more than 30usd in a single barrel…