ICCS2004 Application Submission/Review

Abstract for
"The Complex Economics of Innovation, -Implications for the Shipping Industry"

The shipping industry is rapidly turning into a knowledge based sector and is therefore becoming subject to other economic rules then traditionally such as increasing returns. This is especially noticeable for the subsystem developers due to the high share of know-how and high-tech in the products compared to the material costs. Being aware of the complexity theories and their implications can help a shipper or supplier to balance the R&D resources between sustaining and disruptive development and to manage the organization as a complex adaptive system and thereby gaining competitiveness