Special Economic Zones or Zones of Service Excellence?: The Importance of Developing Service Capabilities in Special Economic Zones

Special Economic Zones or Zones of Service Excellence?: The Importance of Developing Service Capabilities in Special Economic Zones

Timothy Millett
Copyright: © 2022 |Pages: 18
DOI: 10.4018/978-1-7998-7619-9.ch005
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Abstract

This chapter explores the importance of creating a service culture within a Special Economic Zone (SEZ) to provide an alternative to the reliance on pricing strategies to attract businesses and industries. While focusing on benefits such as tax benefits and incentives is one strategy for success, a pure pricing strategy should not be seen as the only option and in many cases does not ensure long term viability, particularly given the current economic climate and the growing number of SEZ's competing globally. In order to take a strategic approach to the establishment of a culture of excellence, the chapter will introduce the true function of business and provide insights into steps that can be taken to create an environment that is not only attractive through the delivery of value to foreign direct investment, but will be rewarding for all stakeholders through the creation of competitive advantage.
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What Is The True Function Of An Sez?

In the book “Non-Manipulative Sales” the authors stated “If the goal of every business is to make money, then the function of every business, and of every person in every business, is the acquisition and maintenance of customers” (Alessandra et al., 2009). And it is clear that in order to acquire and maintain the customer base to which a business aspires then service is going to be a key element of success for that business.

Could the same therefore be said of an SEZ? Could the success of that SEZ depend upon the ability to attract and acquire customers ie businesses prepared to operate in that SEZ? And would those businesses make their decision based on whether they believe they are receiving the best possible service?

According to Ratcliffe (2021) the founder of Wal-Mart, Sam Walton, famously stated that “There’s only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” Walton’s statement is more self-evident today than ever, whether it is applied to a company, an institution or any body that is seeking to create a successful business environment such as an SEZ.

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