The greening of the offshore and marine industry.

• Main Authors: Wee, Shi Hao., Leong, Pei Ling., Kong, Justin Jude Tse Sen.
• Other Authors: Lang Chin Ying, Josephine
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/51582
• Institution: Nanyang Technological University

The offshore and marine (O&M) industry has become a pillar of economic growth for Singapore. In this day and age, it is faced with many unprecedented changes and challenges. Such challenges include incipient stringent regulations, requirements for deeper oil and gas explorations and a plethora of sustainability issues. In light of these, green strategies and alliances seem to be the apt answer to better manage these intractable issues. This paper aims to study what drives the formation of green alliances, analyse the role of green alliances in an organization’s corporate strategy and in contributing to sustainability as a whole as well as to elucidate the link between green alliances and global citizenship. On the whole, the formation of green alliances is aptly traceable to external pressures as the starting and/or focal point. Social pressures to protect the planet and regulations are the salient constituents of these external pressures which serve to create awareness within organizations the importance and need for green strategies and alliances. Furthermore, upon gaining cognizance of how green alliances can contribute to corporate success (by enhancing internal operations), organizations are spurred to integrate such alliances into their internal operations. Two important areas of internal operations are portfolio management and stakeholder management. The latter involves suppliers, regulators, competitors, institutions and complementors. Lastly, green alliances form the stepping stones towards global citizenship and eventually a sustainable business model as pro-active and integrative approaches are taken.