DOI: 10.5176/978-981-08-8408-6_BizStrategy2011_17
Authors: Anh Nam Sung, Naima Samuel and Polawat Pupipat
Abstract:
For many decades, Korean shipbuilders have been the leader of the global market. They offer cost effective and high quality vessels based on their advanced production technologies, good management and process control which helps them utilize their economies of scale and learning effect. Korean shipbuilders have topped the industry with highest market share for a greater part of the last decade. However, China is a powerful rival with the low labor cost and huge amount of domestic demand. Chinese shipyards are rapidly closing the gap with Korean companies and currently hold the largest market share in terms of shipbuilding orders. This research is conducted to explore how the Korean shipbuilding industry can regain the lost market share through its source of competitive advantage in the long-run.
Keywords: shipbuilding; competitive advantage; dynamics; business strategy; product differentiation; cost-leadership
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