Authors: Stig Tenold; Ioannis Theotokas
Addresses: Department of Economics, Norwegian School of Economics, Helleveien 30, N-5045 Bergen, Norway ' Department of Shipping, Trade and Transport, University of the Aegean, 2a Korai Str., 82100 Chios, Greece
Abstract: The article compares innovative practices in two leading shipping nations, Greece and Norway. We also propose a framework for the understanding of innovation in shipping. Innovation in Greek and Norwegian shipping is analysed through developments at three levels. The macro level is the international context. The national context creates the meso level, defining resources available to the firms and the conditions for their operation. The micro level refers to the internal environment of the firms, the source of their strengths and weaknesses. For Greece, a strategy of market penetration and low cost leadership led to innovations exploiting their intangible assets. For Norway, the restrictive conditions prevailing at the meso level, promoted product innovation; the introduction of new ship types with advanced technological characteristics. In time, however, the two paths of innovation converged, following changes in the institutional framework.
Keywords: shipping innovation; Greece; Norway; entrepreneurship; resources; dry bulk market; tanker market; specialisation; market penetration; low cost leadership; intangible assets; product innovation; new ship types; advanced technology.
International Journal of Decision Sciences, Risk and Management, 2013 Vol.5 No.2, pp.142 - 160
Received: 14 May 2013
Accepted: 23 Jul 2013
Published online: 27 Jan 2014 *