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