Caribbean Maritime Logistics A Cluster Approach Presented by Professor Miguel Carrillo, Ph.D. Executive Director and Professor of Strategy Arthur Lok Jack Graduate School of Business The University of the West Indies, St. Augustine [email protected]www.lokjackgsb.edu.tt May 18 th 2016
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Caribbean Maritime Logistics
A Cluster Approach
Presented by
Professor Miguel Carrillo, Ph.D.Executive Director and Professor of Strategy
Arthur Lok Jack Graduate School of BusinessThe University of the West Indies, St. Augustine
What is competitiveness?• Competitiveness is determined by the productivity with which a nation uses its human, capital, and natural
resources.
• What is Competitiveness?• – Productivity depends on the prices that a nation’s products and services command (e.g. uniqueness, quality), not
just efficiency
• – It is not what industries a nation competes in that matters forprosperity, but how it competes in those industries
Developments affecting the Shipping Industry
• Radical Disruptive Innovation: The Container• Integration of Value Chain:
– Port Control– Cargo Vessels Ownership– Insurance– Floating Factories, Warehouses and Distribution Centers
• Emergence of Local Manufacturing Capabilities• Slow down in Economy => Excess Capacity in Transportation• New routes• New Role: Connecting Vs Integrating
Exercise• What services or products you currently offer have the following characteristics:– Original– Unique– Singular – Different– Difficult to imitate– Difficult to substitute– Provides extraordinary value for customers– Generates extraordinary profits for your firm
Maritime
• Trade Facilitator ?– Victims and Beneficiaries of Trade
• Is there a way we can become protagonist in the primary activities of the supply chain?
• THE INTEGRATION CHALLENGE!
Maritime
As providers of Shipping Services:
How are we going to differentiate our value proposition?
How are we going to make it more relevant, impactful, original?
What else can we do that could add tremendous value to mycustomer?
Proposition # 1
• Innovate your Value Proposition
The Science of Growth• Jeffrey Sachs on Convergence and Long Term Growth:– Top most positive impact variables in growth
• Open Markets (consistent)• Growth of economically active population• Institutional Quality• Central Government Budget Balance
– Top most negative impact variables in growth• Share of natural resource exports in GDP• Initial per capital GDP (study point of departure)• Tropical Location• Landlocked Location
Fundamental Change in the Distribution of World Exports
• Complement your understanding of international markets and trade with manufacturing awareness.
What are clusters and why is it important?
Source: Porter 2011
What are clusters?
Clusters are “geographic concentrations of interconnectedcompanies, specialized, service providers, and associatedinstitutions in a particular field that are present in a nation orregion” – Professor Michael Porter, Harvard Business School
Source: “The Cluster Initiative Green Book” 2003
From Sector Thinking to Cluster Thinking
Examples of Clusters within these neighboring countries