Fred Olsen the Accomplishments Research Paper

Pages: 12 (3474 words)  ·  Bibliography Sources: 8  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

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S. Dollars, an equivalent of 12.6 Billion Norwegian Kroner.

Fred Olsen Energy, has a number of subsidiaries most of which are owned by the archer family. One of the most prominent subsidiaries of the firm is Byford Dolphin, formerly Dolphin Drilling Rigs. The British Petroleum has presently contracted the firm for drilling a segment of the North Sea in the United Kingdom. Overall, the participation of Fred Olsen in the lucrative oil business has been active especially in his involvement with Aker Solutions ASA. For a period, Olsen was the chair of Aker, a successful business in the oil industry and which has not only involved in the purchase of major stakes but has also aided in the management of financial and industrial firms (Holt, 1986)

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Fred Olsen Renewables is a segment of Fred Olsen Group founded under the leadership of Fred Olsen. The firm was instituted in the year 1963 with the aim of enhancing the production and distribution of renewable energy both at the domestic and international levels. With this company in place, Olsen's interest in dealing with the issues of environmental preservation in the world, which is suffering the effects of global warning, cannot be underestimated. The firm in enhancing the reduction of green house gases in the atmosphere has made forest management a part of their interest. Under the chair of Fred Olsen, Fred Olsen Renewables has over the years established a reputation that is founded on the principles of dependability, innovation and service (Lorange, 2005). This facet of Fred Olsen Group not only prided itself in the aspect of environmental achievements since its performances in the corporate world are also competitive. Thank to among other things, the practical leadership of Fred Olsen. Formed with the help of Fred Olsen and his brothers, the firm has witnessed immense growth over the years leading to major diversification into public firms within Norway and the United Kingdom (Hephaestus Books, 2011).

Research Paper on Fred Olsen the Accomplishments of Assignment

Fred Olsen's accomplishments are not only narrowed to the energy, engineering, construction and shipping industry. The business mogul is also renowned for his active participation in the airline industry. This is an invention that the business magnate ventured into while still working together with the father in the family business. Within this industry, Olsen can be associated with activities in among other firms, Wideroe, Det Norske Luftfartselskap and Sterling Airlines. Wideroe, popularly known as Wideroe's Flyveselskap AS, is a Norway Stock Exchange listed firm operating Bombardier Dash 8 type of plane and which operates 6 international destinations and 41 domestic ones. The advancement of the organization from dealing only with aviation classes and cartography to its present condition is partly because of Olsen's in put into the organization (Hephaestus Books, 2011). As regarding Det Norske Luftfartselskap A/S, the company was established in 1933 by Fred and his father. This was after they acquired it from a firm which had failed and which bore the same name (Hephaestus Books, 2011). The businesspersons revived the business, incorporating it with other subsidiaries of Fred Olsen Airlines before operating domestic flights with the brand.

Well-known Sailor

Apart from his achievements in the making of his father's ship, company a multinational business organization, there are other areas that Fredrick Olsen also accomplished great deeds. In accordance to Fredrick's history, his premier as a sea captain as when he was at the age of twenty-three. This was quite an achievement considering that in his family there was no one of that age who became a sea captain. His love for the sea grew beyond expectation since childhood and this was a reason that motivated him in achieving certain goals as he became responsible of the family business (Holt, 1986). He earned inspiration the moment a few ships were taken from his father, which was a major blow to the shipping company owned by Fred Olsen's father.

Over Fredrick's years as a captain, he managed to conduct his ships and crew as well to remarkable standards. Word was that Fredrick had tremendous skills in sailing that made him prominent through his sailing career. The incredible sailing skills portrayed by Fredrick earned him a medal of honor. In the year eighteen ninety-five, Fredrick Olsen triumphed the Kiel Regatta. The award issuing takes place annually in Germany (Cooke, 2012). For sailors, this is always a massive event honored for generations and commonly known to take a period of at least a week. Fred Olsen took part in the Kiel Week where he was a victor of the Kiel Regatta.

The Kiel week is an event that determines legends and the main purpose of this event is to have the highly skilled sailors display some of the talents they have in sailing. Olsen had the devotion that was a contributing factor to his success on the event. The other factor that contributed to his outstanding performance in sailing was the fact that Olsen grew up with practical knowledge from the shipping industry possessed by his father. Fredrick was an ambitious young man, which gave him the motivation that he required to exhaust every resource available at his exposal (Hephaestus Books, 2011). Fred Olsen had his father as a mentor and the ship business as resources that he put to use to ensure that he was in possession of the most appropriate skills that will assist him in managing the business after his father.

Order of Saint Olav

Fred Olsen was also prosperous in other areas including when he had a decoration as a Knight. This is a major achievement in Fred Olsen's existence since he got the Royal Norwegian, which was an order of honor with an establishment by one of Norway's King. Fred was among the nominated members for the order and he was a suggestion by a six-member council whose approval is always by the monarch (Lorange, 2005). This is evidence to portray some of the recommendable accomplishments by Fred that the state noticed and approved through giving him a King's order for honor and appraisal. Some of the recommendations that one required to get the order were practical participation in civilian, alternatively, the military contribution.

Fred Olsen was in command of numerous ships that belonged to his father and this was necessary after his father's death. Fred had the appropriate skills to manage the ships since they had been there family business; it was his responsibility to ensure that they were properly taken care of at all time (Hephaestus Books, 2011). Having been young and ambitious, Fred set out objectives that will assist him in the succession of managing the business previously in possession by his father. His main goal was to ensure that he develops a network of customary linear services with the resources that were in his tenure. Some believes by Fred at his tender age as a captain included establishing a reputation aimed at delivery of quality service as well as steadfastness.

Another of the accomplishments by Fred Olsen includes the need to transfer from usage of sail to steam ships. This was a bold step in the shipping industry that Fred Olsen was set to introduce. It is clear that he had objection to this ultimate step though the potential and desire in sailing ensured that Fred had what he projected. Later in the year eighteen ninety-seven, Olsen placed an order of the foremost steam ship in their custody. Fred had the funds to purchase the steam ship in that in the following two years he was in a position to purchase two more sister steam ships (Cooke, 2012). Through purchasing these steam ships, Fred Olsen was in a better position to ensure that the standard linear service he desired was achievable.

In the beginning of the nineteenth century, Fred Olsen had ships in several routes thus expanding the areas to cover. This only made the shipping company much stronger and more stable with an increased area to conduct business. The moment the business was congruent, Fred Olsen managed opening other business lines that were private possession by him. This symbolized the potential that Fred Olsen had in his work and how serious he was with the success of the shipping industry. He set numerous goals that in time he managed achieving showing how efficient he was in making choices relating to the company's success. It is clear that Fred Olsen was a strategic person as well as goal oriented and that is the reason as to why he managed making the shipping company a multinational organization (Hephaestus Books, 2011).

The Inter-war Period

Fred Olsen took part in the first world and from the company's record, it is clear that he lost approximately twenty-three ships at a period when they only had only forty-four ships. The company was stable enough to repose the lost ships within a very short duration. Still whilst the manager of the shipping company, Fred was part of a project to establish the company's first Tanker in the year nineteen-twenty nine. However, this was one of… [END OF PREVIEW] . . . READ MORE

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