Set in March 2015, the case begins when the Baltic Dry Index (BDI), an economic indicator of the average price to ship raw materials, hits an all-time low. Khalid Hashim, Managing Director of Bangkok-based Precious Shipping Public Company Limited (PSL) is now tasked with navigating the company through economic uncertainty. In the past, PSL, has weathered similar volatility characteristic of the cyclical nature of the shipping industry. Though it was able to survive some of the biggest downturns in the market, most notably the Asian Financial Crisis of 1997 and the Global Financial Crisis of 2008, is it poised to sail through the next downturn?
This case can be used as a tool for discussion regarding issues of decision-making, organisational culture, and succession planning as it pertains to business continuity. The case could also be used for more specific discussions on crisis management or maritime strategy. It is a relatively broad case that is designed for use in organisational behaviour or human resources courses at undergraduate, postgraduate, or executive level.
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