Impact of innovation on performance of shipping companies in Singapore

• Main Author: Xie, Yizheng.
• Other Authors: Chew Ah Seng, David
• Format: Final Year Project
• Language: English
• Published: 2009
• Subjects: DRNTU::Engineering::Maritime studies::Maritime management and business
• Online Access: http://hdl.handle.net/10356/16282
• Institution: Nanyang Technological University

The objective of this report, as part of three reports, was to investigate whether innovation has any influence on the performance of shipping companies in Singapore. A random sample of 85 companies was chosen from the Singapore Maritime Directory and the Singapore Shipping Association Directory. Primary data was collected through a survey questionnaire which was sent out to the companies. A total of 18 questionnaires were received. Unfortunately 1 questionnaire had to be rendered inadmissible due to the different nature of the company’s business, thus yielding a 20 percent response rate. Analysis was carried out using SPSS to find out the correlation between innovation and performance variables. In this report, innovation consists of Product, Process, Marketing and Organisational Innovation and performance consists of Supply Chain, Market and Environmental Performance. Results showed that on the whole, innovation has positive correlation with performance and it is mainly contributed by Product and Marketing Innovation which has shown strong correlation with performance. According to reports done by my teammates, organisational and inter-organisational factor highly support marketing innovation thus we are able to conclude that marketing innovation is the dominating factor that drives performance and determines how shipping companies in Singapore function.