• • Identify and discuss key challenges faced by manufacturing companies in global maritime markets.
• • Analyze processes of value creation and value capture in global maritime markets.
• • Apply theories and models from international business, economic geography and marketing to the study of value creation and value capture in global maritime markets.
• • Critically evaluate business opportunities in global maritime markets.

Manufacturing companies operating in global maritime, business-to-business markets are increasingly facing global competitive pressures from new, low-cost players in emerging economies. Some of these changes are caused by irreversible global shifts in manufacturing from developed to developing economies. For these reasons, competition solely on the basis of costs has proven an inefficient corporate strategy for manufacturing companies in developed economy countries. The course focuses on how such manufacturing companies can respond to these key global competition challenges in innovative ways. More specifically, the course discusses how manufacturing companies can create and catch value through an upward movement to higher-value adding activities in global value chains. In answering this question, the course discusses the potential for and pitfalls of servitization, focused global sales efforts, innovative sales financing, enhanced control of value chains, and customer and partnership relationship management. The course applies theories and models at the intersection between the fields of international business, economic geography and business-to-business marketing.

The course will enable students to critically analyze processes of value creation and value capture in global maritime markets and evaluate business opportunities for manufacturing companies through various upward movements in global value chains.

The course focuses specifically on maritime business-to-business markets, which include a broad range of suppliers to the global shipping and shipbuilding industries. In the last decades, maritime markets have experienced immense, global competitive pressures, and these processes are still ongoing. Therefore, these markets present an ideal setting for discussing the course topic.

The course takes a hands-on-approach to the topic, discussing several real-life cases, and it includes guest lectures by industry practitioners.

Literature (indicative): Approximately 700 pages

• Selected chapters in G.L. Lilien and R. Grewal, 2012, Handbook of Business-to-Business Marketing (Cheltenham, UK and Northampton, MA: Edward Elgar); W. Talley (2012), The Blackwell Companion to Maritime Economics (Blackwell Publishing); and M. Stopford, 2009, Maritime Economics (London: Routledge).

• BALance Technology Consulting, 2014, Competitive Position and Future Opportunities of The European Marine Supplies Industry, Bremen: BALance Technology Consulting.

• Coe, N.M., P. Dicken and M. Hess, 2008, ‘Global production networks: realizing the potential’, Journal of Economic Geography, 8, 271–295

• Cressman, Jr., G.E., 2012, ‘Value-based pricing: a state-of-the-art review’ in: G.L. Lilien & R. Grewal (eds.), Handbook of Business-to-Business Marketing, Edward Elgar, Cheltenham, UK & Northampton, MA, USA, 246-74.

• Dedrick, J., K.L. Kraemer and G. Linden, 2009, ‘Who profits from innovation in global value chains? A study of the iPod and notebook PCs’, Industrial and Corporate Change, 1–36.

• DNV, 2011, Technology outlook 2020, Høvik: DNV.

• Kogut, B., 2004, ‘Conclusion: From Regions and Firms to Multinational Highways: Knowledge and Its Diffusion as a Factor in the Globalization of Industries’. In: M. Kenney with R. Florida (Eds.), Locating Global Advantage. Industry Dynamics in the International Economy. Stanford, CA: Stanford University Press.

• Linden, G., K.L. Kraemer and J. Dedrick, 2009, ‘Who Captures Value in Global Innovation Network? The Case of Apple’s iPod’, Communications of the ACM, 52(3):140-44.

• Madsen, D. and T.C. McAloone, 2008, ‘From product to service orientation in the maritime equipment industry - a case study’. In: M. Mitsuishi, K. Ueda and F. Kimura (eds.), Manufacturing Systems and Technologies for the New Frontier, London: Springer, pp. 515-518.

• Mudambi, R., 2008, ‘Location, control and innovation in knowledge-intensive industries’, Journal of Economic Geography 8: 699–725, doi:10.1093/jeg/lbn024

• Olesen, T.R., 2013, ’From shipbuilding to alternative maritime industry - the closure of Danyard Frederikshavn in 1999’. Erhvervshistorisk Årbog, 62(2): 78-96.

• Porter, M.E., 1986, ‘Competition in global industries: a conceptual framework’. In M. E. Porter (ed.) Competition in Global Industries, Boston: Harvard Business School Press, 15–60.

• Poulsen, R.T., 2013, ‘Diverting developments – the Danish shipbuilding and marine equipment industries, 1970-2010’, Erhvervshistorsk Årbog, 62 (2), 57-77.

• Teece, D.J., 1998, ‘Capturing Value from Knowledge Assets: The New Economy, Markets for Know-How, and Intangible Assets’, California Management Review, 40(3): 55-79.

• Vandermerwe, S. and J. Rada, 1988, ‘Servitization of Business: Adding Value by Adding Services’, European Management Journal, 6(4): 314-24.