It is critical to identify ways to successfully implement blockchain which can transform the operations of shipping companies in the coming years. In this light, this study aims to explore the critical success factors (CSFs) of blockchain implementation using a comprehensive theory-driven approach, which is largely ignored by previous studies. The theoretical model is grounded on the synthesis of diffusion of innovation, resource-based view, institutional theory, stakeholder theory and technology-organization-environment framework. Correspondingly, five main-criteria and seventeen sub-criteria are identified. Fuzzy analytic hierarchy process is applied to rank the CSFs based on the feedback from experienced managers and directors working in maritime shipping companies. The findings show that in descending order of importance, the top five sub-criteria of blockchain implementation are relative advantage, internal leadership, human resources capability, scalability and ease of use. This study has provided a novel theoretical framework for blockchain CSFs research, offered strategy formulation in relation to marketing, technological skills upgrade, investments and subsidization, and knowledge cluster sharing to support blockchain implementation in the maritime industry.
Blockchain implementation in the maritime industry: critical success factors and strategy formulation
X. LI ET AL.
MARITIME POLICY & MANAGEMENT
Maritime Policy & Management ; 51 , 2 ; 304-322
2024-02-17
19 pages
Article (Journal)
Electronic Resource
English
Critical Success Factors of Lean Manufacturing Implementation in Automotive Industry in China
British Library Conference Proceedings | 2012
|Critical success factors for Six Sigma implementation in automotive industry in Egypt
Automotive engineering | 2011
|Critical Success Factors of Six-Sigma Implementation in Automotive Industry in Egypt
SAE Technical Papers | 2011
|Critical Success Factors of Lean Manufacturing Implementation in Automotive Industry in China
SAE Technical Papers | 2012
|Danish maritime industry: Success with innovative products
Online Contents | 2004