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Title: Choice criteria in the selection and evaluation of professional ship management firms
Authors: Panayides, PM
Cullinane, KPB
Keywords: Administration and Management
Marine Transportation
Issue Date: 2001
Source: Proceedings of the 9th World Conference on Transport Research (WCTR), Seoul, Korea, 22-27 July 2001 How to cite?
Abstract: The success of professional ship management companies suggests that there might be compelling economic benefits for the separation of ownership from management. In addition to this, ship managers need to know the criteria used by clients and prospects for selection and evaluation as well as the process that this might entail. The purpose of this paper was to empirically identify the dimensions for ship manager selection and performance evaluation, their relative importance, as well as to model the process for selection and evaluation. The methodology adopted included the collection of secondary and primary data both from ship managers and their clients using interviews and a mail survey. The results indicate the prevailing importance of certain dimensions in selection (e.g. technical ability, reputation, competency) and evaluation (responsiveness, trustworthiness, technical ability) and it also found that price alone is not perceived to be as important in ship manager selection. Placing emphasis on these dimensions in the formulation of marketing strategy will contribute towards the attraction and retention of clients, whereas cost-cutting measures for price reduction and advertising will be ineffective over the long term. The analysis of the process by which clients select and evaluate ship management firms also provides important implications for customer attraction, retention and competitiveness in ship management.
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