A SYSTEMATIC APPROACH TO STRATEGY FORMULATION FOR MEDIUM-SIZED SHIPYARDS
Abstract: A more
comprehensive strategy formulation
has an important
role for sustainable
competitive advantage of the shipbuilding companies in the global
market. The nature of shipbuilding industry differs from general industry,
therefore a strategy formulation model should be developed based on its own characteristics
and business environment. This paper presents a proposed strategy formulation
model for medium-sized shipyards both in business and corporate levels. A new
approach was developed based on comprehensive
business environment analysis,
using questionnaires to
the industry's stakeholders and
multivariate analysis “Factor
Analysis.” From the
analysis, two business environmental models
are made, and
combined into corporate
model called “Ten-boundary environment model.” These
models are used to develop Shipyard Matrix, then integrated into a shipyard strategy
formulation model, called “YARDSTRAT,” using the David's strategy formulation
framework. Real case application and discussion have been carried out in two
national shipyards. The proposed model
and the results
were compared to
their existing formulation
model for model
evaluation and validation, using
12 evaluation criteria. The results show that, the average value of each
criteria of the proposed model is much higher than the average value of the
existing model (SWOT analysis).
Author: Buana Ma'ruf
Journal Code: jpmanajemengg070013
