Growth Strategy Of Niche Company-A Study Of IMS In DG Industry

One of the essential topics in strategic management is growth strategy, while growth is important especially for small business. How to grow in a limited market is an eternal topic for a niche company. There are plenty of literatures discussed about grow strategies, however still lack of enough studies especially focused on niche companies. This work endeavors to study deliberate as well as how a niche company can strategize for a new phase of growth and how the niche companies have grown by each mean of grow strategies and models or which way are they currently growing within the marine transportation of dangerous goods industry.The purpose of this thesis aims to understand I.M.Skaugen's growth process during the company's operation in the international market. The main focus of my study is to provide a niche company with a strategic choice for both internal and external growth, by studying successful case of I.M.Skaugen who have existed for hundred years and grown to be a leader in its industry of a niche market.In order to fulfill the purpose of this study, the author conducted a qualitative case study of I.M.Skaugen. The author used interview as the main data collection method.One way for company to grow is to find new market. A key to exploring new market is to consider its own advantages, abilities and a wide variety of segmentation variables. It is especially useful to identify segments that are not being well served. From this study it is evident that planned and deliberate growth strategies which are implemented with some level of expertise in its own specialized fields have some advantages.The conclusion of this case study is that the best way for a niche company to grow is continually finding new market and new product or technology to well serve this target and limited market. It's not wise for a niche company to grow inorganically by merger large and integrated companies who operates many kinds of business, which will pay high cost for the integration for an originally small but unique business, and weaken the advantages of the niche company itself instead.