Shrieve Chemicals. Paper Example

Shrieve Chemicals, formed in 1978, is a conglomerate with a footprint in diverse markets locally, regionally, and at the international level (Shrieve chemicals). The company's value proposition is to provide top-tier performance solutions and world-class technologies to its customers. The company has leveraged on strategic collaborations to produce high-performance lubricants that are used in compressor systems using natural environmental and generation synthetic refrigerants, to meet current and future industry requirements through sustainable technology partnerships. Shrieve Chemicals offers differentiated products to its clientele. The product portfolio includes dielectric fluids, industrial performance fluids, compressor lubricants, and synthetic lubricants for use in stationary refrigeration, automotive air conditioning, and air conditioning systems by using a wide range of refrigerants.

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The Shrieve Group has affiliates across the world, each having its marketing and supply operational network for the Oil and Gas, Performance Fluids, Specialty lubricants, and Industry Chemicals. The company has its headquarters in Texas, with strategic manufacturing, stocking and strategic office locations across North and South America. The company also has affiliates in the Middle East, Europe, Africa, and China. Overall, the group leverages collaborations and acquisitions to penetrate new markets and operates under different affiliates in different regions (Shrieve chemicals).

Assessment of Key Strengths, Weaknesses, and Resources

Shrieve Chemicals' key strengths and resources include having a global presence, having differentiated top-tier products, use of innovation and technology, and a strong workforce. Shrieve has a broad product portfolio, a specialty in performance fluids, proprietary formulation expertise, global logistics capabilities, and a customer-centric value proposition. With over 40 years' of experience in product manufacturing and distribution, and a physical presence in over 40 countries across America, Africa, Asia, and Europe markets (Shrieve chemicals), Shrieve has positioned itself as an industry expert in lubricant formulation, manufacturing, and distribution. Also, Shrieve leverages collaborations and acquisitions to penetrate new markets and expand its customer base. Due to its broad wealth of knowledge and experience, Shrieve identifies existing opportunities and transfers technology from one sector to another to add value to its product portfolio and service offering.

Shrieve Chemicals' weaknesses include the lack of a defined marketing segmentation strategy. Shrieve has no specificity on its target market and the specific needs and preferences of the various market niches. These market inefficiencies impair the company's ability to leverage synergies to create brand loyalty and enhance brand affinity. According to Dibb et al., it is vital for a company to segment its market and strategically position its products (Dibb, 2010). Positioning entails the product occupying a clear and desirable place in the customer's mind (Crouch, 1996). The company has not selected its customers or created strategies on how to serve a particular niche.

Important Internal Environmental Factors The company's internal environment consists of factors within the business that influence its business performance and operational efficiency (Gelder & Sicco,2004). These are factors that are within the company's control, and managing these factors is the key to the success of the company. Internal environment factors include the value proposition, company policies, financial resources, physical assets, Human resources, employee relations, brand equity, among others. Internal factors affect the company's ability to meet its objectives because strengths yield favorable outcomes while weaknesses hurt the business (Shinno& Hidenori, 2006).

Shrieve Chemicals' has a noteworthy combination of both strengths and weaknesses that comprise its internal environment. The strengths include an industry experience of more than 40 years, extensive physical presence in 40 countries across the world (Shrieve chemicals), a diverse product offering comprising of differentiated top-tier products, a strong workforce comprising of highly trained and skilled employees who are industry experts, and a strong financial standing that enables the company to fund its business operations, thus ensuring optimal business performance. Also, the financial soundness of the company has enabled it to enter into partnerships and acquire other companies, to widen its operations scope and geographical distribution through penetrating new markets. Overall, Shrieve Chemicals has strong financial, physical and human resources, superior technology, expertise in innovation and effective internal processes like the corporate structure, employee programs, department hierarchies, and software systems.

Competitor Analysis

Shrieve Chemicals' main competitors are Barton Solvents Inc, Chemlube International LLC, Acme-Hardesty Co, Oleon GmbH, and Multisol Ltd. Barton Solvents Inc, for example, is a family-owned business that has 80 years' experience in the delivery of quality laboratory products at competitive prices, and with a strong customer service proposition (Barton Solvents Inc). Chemlube International LLC has relatively shorter industry experience than Shrieve Chemicals, but it also has operations across the United States, Switzerland, Asia, India, Africa, Europe, and the Middle East. Acme-Hardesty Co has over 70 years of industrial experience in the manufacturing and distribution of renewable bio-based products. Acme-Hardesty Co has earned its position as a reputable distributor of castor oils and allied products, palm-based glycerine, palm derivatives, and fatty alcohols (Acme-Hardesty Co) Overall, Shrieve Chemicals' competition offers equally superior products, and has sufficient industry experience. However, Shrieve Chemicals' has leveraged innovation, collaborations, and skilled workforce to gain a competitive advantage.

Organizational Structure and its Influence on Performance

Shrieve Chemical Company, the parent company of the entire Shrieve Group consortium, is a privately owned company that is domiciled in The Woodlands, Texas. The affiliates, located across the United States and the world, serve various markets such as oil and gas, industrial chemicals, and other specialty products. The company is headed by a Chief executive, a president, and a senior vice president, who lead about 150 employees (Shrieve chemicals). By having a highly-trained workforce, the company has achieved superior products and services, through sustained innovation. Shrieve is a market leader in industrial chemicals, sulfur-based products, and nitrogen products across a variety of industrial applications. The business underpinnings are unifying customer relationships, value addition through understanding customer needs, strong supplier and industry relationships, and the provision of unified and superior products that meet customer needs and add value to their businesses.

Shrieve's Competitive Position

First, the company has human resource capabilities. The company has a pool of talented formulation and engineering experts who are at graduate and PhD level. The industry experts to formulate, apply, and develop synthetic chemistries for the market. Second, the company has specialized laboratory analysis tools with superior capabilities for temperature testing, viscosity and pressure regulation for refrigeration-lubricant. Third, the company has the expertise, experience and specialty in lubricant formulation, and a strong knowledge base in polyol ester, polyalkylene glycol, and alkyl benzene chemistries. Also, because the company has specific laboratory testing and analysis services, it is able to transfer technology from one sector to another, for optimal value addition and enhance product innovation. Combined, these competitive advantages enable the company to grant its customers a flexible offering (Jin et al., 2016) and to serve a wide range of industry segments through its diversified supply base in various parts of the world.

References

Acme-Hardesty Co. (n.d.). Home. Retrieved from https://www. acme-hardestyco.com/

Barton Solvents Inc. (n.d.). Home. Retrieved from https://www. bartonsolventsinc.com/

Dibb, S. (2010). Market Segmentation Success - Making it Happen! Strategic Direction, 26(9). doi: 10.1108/sd.2010.05626iae.002

Crouch, G. (1996). Book Reviews : Marketing for Hospitality and Tourism by Philip Kotler, John Bowen, and James Makens (Prentice-Hall, Upper Saddle River, NJ 07458. Journal Of Travel Research, 34(4), 105-106. doi: 10.1177/004728759603400416

Jin, J., Ji, P., & Gu, R. (2016). Identifying comparative customer requirements from product online reviews for competitor analysis. Engineering Applications Of Artificial Intelligence, 49, 61-73. doi: 10.1016/j.engappai.2015.12.005

Shinno, H., Yoshioka, H., Marpaung, S., & Hachiga, S. (2006). Quantitative SWOT analysis on the global competitiveness of machine tool industry. Journal Of Engineering Design, 17(3), 251-258. doi: 10.1080/09544820500275180

Shrieve chemicals. (n.d.). Home. Retrieved from https://www.shrieve.com/

van Gelder, S. (2004). Global brand strategy. Journal Of Brand Management, 12(1), 39-48. doi: 10.1057/palgrave.bm.2540200