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Strategic intent: Guiding port authorities to their new world

Citation

Haugstetter, H and Cahoon, SC, Strategic intent: Guiding port authorities to their new world, Research in Transportation Economics, 27, (1) pp. 30-36. ISSN 0739-8859 (2010) [Refereed Article]

DOI: doi:10.1016/j.retrec.2009.12.005

Abstract

Following the financial tsunami many organisations are facing greater risks to their sustainability. Strategic collaborations in logistics networks, of which ports are a significant node, reduce risks for all organisations in the network, increase an organisation's ability to access efficiencies such as economies of scale and create opportunities for learning. The knowledge learnt from collaborators is enhanced by managing the key relationships and forming a strategic intent to learn for mutual benefit. Mutual benefits may include market information or innovation. As Awad and Ghaziri (2004, p. 17) comment [`]Beyond efficiency and productivity, the real benefit of collaboration is innovation.' The more central the port authority is in this network, the greater are the opportunities for learning. Three key factors are critical for port authorities to integrate knowledge from networks; firstly, there are levels of common knowledge that enable effective communication, including concepts, behavioural norms, language and experience. Secondly integrative efficiency requires organisational routines which foster knowledge sharing through frequent, coordinated activities that are repetitive. Thirdly efficient structures within the port authority help maintain effective and efficient communication to minimise the knowledge loss on integration. Strategising provides opportunities for port authorities to steer the critical path between maintaining their current sources of competitive advantage and developing future resilience through innovation opportunities provided by learning from their trading networks. Port authorities, by developing skills in reading the collective mind and interpreting information available in trading networks, can foster resilience into the future. Given the current risky prognosis for the short-medium term following the financial tsunami, instigating strategies that may lessen those risks may be an option for port authorities.

Item Details

Item Type:Refereed Article
Keywords:strategic, intent, collaboration, ports, innovation, knowledge, sharing
Research Division:Commerce, Management, Tourism and Services
Research Group:Business and Management
Research Field:Logistics and Supply Chain Management
Objective Division:Transport
Objective Group:Water Transport
Objective Field:Port Infrastructure and Management
Author:Haugstetter, H (Ms Hilary Pateman)
Author:Cahoon, SC (Dr Stephen Cahoon)
ID Code:68511
Year Published:2010
Deposited By:NC Ports and Shipping
Deposited On:2011-03-13
Last Modified:2014-11-05
Downloads:0

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