Track: Modeling and Simulation

Abstract

This study examined the influence of open innovation and change management on the firm performance of national shipping companies. The performance of a business is determined by its operational and financial performance. The functioning of the national shipping sector is under severe strain during this pandemic, owing to the presence of legislation governing the Compliance with Restrictions on Community Activities (PPKM). This unstable environment necessitates change management and open innovation to thrive. As such, this research aims to determine the impact of change management and open innovation on the performance of Indonesian shipping companies. The analysis was performed in 2020 and covered 126 Indonesian shipping companies. The quantitative study employs descriptive and inferential statistical data analysis methods, namely, regression analysis. The findings demonstrate that change management and open innovation have a favorable effect on a company's success. This result indicates that change management and open innovation affect firm performance, meaning that management should devote particular attention to developing open innovation personnel inside the organization. The business may then use a transformation plan to change conditions quickly.