Report about DP World

DP WORLD
Principles of Management


Mission of the Company

The overall mission of a company consists of factor like their worldwide scope of progress, their core values, their philosophy and their vision for future growth. The unified vision of DP World is to achieve sustainable value through worldwide growth and by the services and excellence. This represents their ultimate goal for the future in a nutshell.
The mission of DP world is
“A global approach to a local business environment where excellence, innovation and profitability drive our core business philosophy of exceptional customer service”
DP world fulfills their mission by adhering to their four strategic pillars which are corporate governance, communication, corporate responsibility and strategic implementation. (DP World, 2014)
DP world suggests multiple values that it possesses like commitment to their people and consumers, possessing a profitable growth at a global level. The values of DP World also boast of maintaining a responsible corporate and personal behavior and lastly, they affirm their quality of excellence and Innovation.
Their overall outlook towards their progress suggests that they have maintained growth despite some challenges and a return to normalized growth is expected. The focus is mainly laid on delivering services with efficiency and controlling costs to a further extent. DP world is expecting long term growth which is to be attained in aligned with the targets set for the year 2020.
DP World also aims to minimize the impact that the organization creates on the environment through its activities. This is being done by controlling and minimizing the energy consumption by using energy efficient technologies. There is also a water conservation program under way through monitoring and reporting the usage of water. DP World has also initiated a waste water treatment facility in one of its facilities and plans to implement similar ideas at other facilities for environment conservation.
Corporate responsibility is just not limited to serving the society but it actually begins with the internal parts of the organization. The corporate responsibility of DP World also stretches towards the sustained environment of safety in the organization. The aim of certain policies is to create a safe and injury free work environment for the employees. Compliance with the employee policies designed by the labor laws is desirable and mandatory for the employees. There is a zero tolerance policy for workplace incidents. These steps are crucial to achieve the objective of Zero Harm.
Objectives

DP world’s objectives are aligned with its strategic pillars which drive DP World to a progressive direction. There are certain key performance indicators which are a highlight of DP world’s progress and there are specific distinct factors which have been assigned target figures for the future. The return on capital employed (ROCE) is at 6.7% and the target figure for the year 2020 is 15% for that specific factor. Financial targets include the increment of productivity and asset utilization at large. Reducing costs is also an objective along with discovering new sources of revenue and the increment of current sources of revenue. The chief financial officer discloses their aim of maintaining and ultimately maximizing the complete market sector by efficient expansion and by developing innovation and excellence in services. (DP World, 2013)
There is also an objective which is to be observed by the capital management of DP world. The credit rating of an organization is a symbol of the firm’s financial strength and credibility. The objective of the capital management department is to maintain the credit rating of DP World so that it can sustain the business and increase the shareholder value. The objective also covers the aspect of maintaining healthy credit ratios. The revenue registered by DP World in 2013 was 3,073,248000 USD. The objective for 2020 in financial terms is to have a 50% adjusted EBITDA margins. Net profit was observed to be 721,788000 USD. The financial health of DP World is at a positive position. DP World has taken adequate measures in terms of fulfilling their social responsibility. (DP World, 2013)
Strategies

DP World divides their strategy into four different divisions which are financial strategies, customer oriented strategies, operational strategies and learning strategies. The key financial strategic focus areas are to maximize the utilization of all possible assets, to maximize productivity in all areas, to minimize cost, and finally to maximize revenue sources and sustain and grow the current revenue sources. DP World plans to do this by efficiently managing their global portfolio and locking on to the premium capital sources. DP World plans to stay competitive by sustaining their credit rating and their leverage. In depth, the financial strategy of efficient management of the portfolio is done by maintaining the global diversities of the terminal networks. Emphasis is laid on increasing capital returns and sustaining a strong and healthy balance sheet. During the year 2013, the process of portfolio adjustment was conducted in order to stay aligned to their long term financial strategy. (Dp World, 2014)
The second key strategy is a learning and employee oriented strategy. One of the principle aims of DP world is to become the employer of choice. This cannot be achieved simply by providing a great infrastructure or something similar and DP World has come up with certain focused strategies in order to sustain the employee retention levels. The first step in order to achieve this is through a formal management system which would give rise to an innovative culture which also excels in performing. The second step in this strategy is to focus on employee well-being and communication starting from the recruiting procedures and constantly striving for retaining employees by treating them as valuable assets to the company. This requires roles to be played by many employees as all the organizational levels. There is also a final step of creating succession plans for the employees to be followed at every level of the organization.
The global human capital strategy consists of certain specific steps. Construction of a workforce which performs on an optimum level is the initial part of this strategy. Encouraging learning activities is the phase that come before the last phase. This step leads to innovation and impacts the growth of an employee in the most positive manner and this achieved through training programs designed specifically according to departments. The activity which will be in the last and continuous phases of the human capital strategy to contribute to diversity management in the organization which is done to create a diverse workforce. The strategy is addressed at the most basic level by recruiting employees who believe in a similar ideology and would contribute in a positive manner to the work culture. This is crucial for hiring employees at every level of the organization.
This will lead to the promotion of a positive employee culture as DP World and by promoting this kind of culture DP world be able to ensure that alignment is observed in the leadership methods of the senior employees. This kind of culture is also aimed to create an environment where there is feedback received from employees and constructive criticism is observed on the part of the employees. In a complete organizational perspective, the correct application of this strategy will lead to a grown amount of innovation in the organization which is critical at any stage. This kind of environment is aimed to foster continuous learning among the employees which is aided by the use of technology across all the facilities of DP World globally. This will lead to the key achievement of sharing of information as part of optimum application of the human capital policies of DP World. (Thaniah, 2006)
Organizational Structure
(Thaniah, 2006)

Bibliography
DP World. (2013). Annual Report. Abu Dhabi: DP World.
Dp World. (2014). Strategic Priorities. Retrieved from web.dpworld.com: http://web.dpworld.com/about-dp-world/strategy/strategic-priorities/
DP World. (2014). Vision, Mission and Values. Retrieved from web.dpworld.com: http://web.dpworld.com/about-dp-world/vision-mission-and-values/
Thaniah, J. M. (2006, 9). New management structure. DP World Connexions, pp. 3,4.

Skills

Posted on

March 7, 2018

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