Factors affecting technological innovation in shipping industry.

Abstract

Shipping is one of the world's most international industries. The history of shipping can be traced back to the small wooden Viking boat thousands of years ago. Technological innovation in shipping evolved together with the industry development has gone through many stages. This project studies organizational culture, as an organizational-level variable that affects technological innovation in shipping industry. It aims to highlight the theoretical and practical implications of technology innovation on shipping companies' operation.

Literature concerning innovation of technologies on company operation was reviewed. Primary research was carried out by conducting 43surveys and 22 interviews of shipping companies based in Singapore.

It is found that culture of a high level of risk tolerance, culture of a reward system, culture of a focus on future market, culture of a strong organizational support for innovative ideas and culture of a high level of authority positively affect technological innovation in shipping companies.