Shen, H.; Ou, Z.; Bi, K.; Gao, Y. Impact of Customer Predictive Ability on Sustainable Innovation in Customized Enterprises. Sustainability2023, 15, 10699.
Shen, H.; Ou, Z.; Bi, K.; Gao, Y. Impact of Customer Predictive Ability on Sustainable Innovation in Customized Enterprises. Sustainability 2023, 15, 10699.
Shen, H.; Ou, Z.; Bi, K.; Gao, Y. Impact of Customer Predictive Ability on Sustainable Innovation in Customized Enterprises. Sustainability2023, 15, 10699.
Shen, H.; Ou, Z.; Bi, K.; Gao, Y. Impact of Customer Predictive Ability on Sustainable Innovation in Customized Enterprises. Sustainability 2023, 15, 10699.
Abstract
With the disruption of digital technologies, customers have emerged as co-producers in order to reduce costs and enhance productivity. Customer-driven business logic recognizes customer capabilities and sustainable innovation as key factors in the performance of customized manufacturing enterprises. The potential relationship between customers and producers has become a new area of inquiry. Existing research rarely delves into the impact of customer predictive ability on the process of customized production activities, particularly in relation to sustainable innovation, which remains inadequately characterized. Ships serve as a typical representation of customized enterprises. This study explores the underlying drivers of sustainable innovation through customer demand orientation by examining 20-year historical patterns in the global shipping and shipbuilding markets, considering the environmental dependency and temporal correlation characteristics of the shipbuilding market (producers) and the shipping market (consumers). By employing time series and panel data in a machine learning algorithm, specifically the random forest model, the study reveals a strong and statistically significant correlation between new ship deliveries and the Baltic Dry Index (BDI), with larger value ships having a more pronounced impact on the consumer market. The correlation analysis confirms that these two variables, in combination, can comprehensively reflect customer predictive ability and serve as crucial decision criteria for customer investment in new ship production. Furthermore, based on principal component analysis of customer predictive ability and ship innovation levels, as well as Granger causality tests, the study demonstrates that customer predictive ability is a Granger cause of sustainable innovation in customized production. Customer predictive ability influences sustainable innovation in customized enterprises to varying degrees. This research provides valuable insights for shipbuilding companies in terms of engaging in sustainable innovation in international markets and understanding the value of international market customers.
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
