Book
Building Strategic Capabilities in Emerging Markets
Firms in emerging markets are becoming leading global players despite
operating in challenging home country environments, but little is known
about how they build their capabilities. By analyzing multiple companies
operating across over a dozen emerging markets in Asia, Latin America,
Africa and Europe, the authors identify the specific challenges faced by
emerging market firms to become internationally competitive.
Furthermore, they provide actionable solutions to upgrading capabilities,
sustaining competitive advantage, and achieving multinational
status, all whilst operating in emerging economies. Featuring contributions
from eminent business scholars from across the globe, this timely
volume provides a valuable tool for academics and practitioners, managers
and consultants, especially those involved with emerging market
firms working to grow and succeed globally.
Russia is the largest country in the world, ranking 9th by population with 146.8 million people living on its territory. Russia contains 30% of the world’s natural resources, making it the most resource-rich country in the world. The Russian economy is 6th in the world in terms of GDP (purchasing power parity), according to the IMF. In the Global competitiveness report, Russia ranked 43rd out of 140. Our study of companies’ strategic capabilities is based on a comparative analysis of 5 firms operating in Russia. Three of them are domestic – SIBUR (Siberian-Ural petrochemical and Gas Company), Gazprom Marketing & Trading (part of the Gazprom group), and ByTerg, all representing exporters in the high-tech industry, and 2 multinational companies (MNCs) – Ecolab and Swilar, representing the high-tech and service industries respectively. This qualitative study, relying on semi-structured interviews, revealed that customer orientation is a crucial strategic capability, highlighted by all firms. Very important strategic capabilities also include product manufacturing and general sales capabilities (highlighted by 80% of respondents).
R&D projects in pharmaceutical industry are extremely risky and bring benefits in long-run period. Self-interested managers try to avoid risk and underinvest in R&D. In this paper we study the effect of independent directors, insider ownership and scientific connections on R&D investments. Independent directors and insider ownership can mitigate agency problem by additional monitoring and convergence of interests. Scientific collaborations promote technological development and increase R&D. The research reveals the difference of the effects in emerging and developed market.
The paper discusses corporate performance modeling through the integrated conception of corporate financial architecture. We examine the influence of financial architecture based on ownership structure, capital structure and corporate governance over strategic performance of Russian nonfinancial companies. First, we conduct a comparative analysis of different measures for corporate performance using economic profit and Tobin’s Q as dependent variables. Second, we test our model using the unique research database of 70 Russian companies that allowed us to test different dimensions of corporate governance quality and to demonstrate the high correlation between the quality of corporate governance and Russian companies’ performance. Third, we contribute to the challenging issue of exploring the relationship between boards and corporate performance before the global crisis and within the crisis. We contribute to the literature by applying new approach derived from corporate financial architecture concept to economic profit modeling in an emerging market.
Emerging markets, to which Russia belongs to, represent a significant part of the world economy and have a tendency to expand their share. According to Sheth (Sheth, 2011), emerging markets have common marketing features. At the same time, each country has a number of specific marketing features that distinguish it from other countries and leave their mark on marketing activities of companies in this country. Understanding of marketing practices is important because it helps to analyze peculiarities of company's marketing activities, adjust existing theories and models of marketing and create new ones, that relevant to the reality of emerging markets. Also it allows adjusting the existing marketing activities to the market more efficiently. Thus, the purpose of this paper is to identify the specifics of marketing practices of Russian companies.
The article prescribes new forms of operations of MNCs in Russia depending in chaging motives of investments.
Building long-term customer relations plays a pivotal role in contemporary management practice. Customer relationship management process in a company involves various different actors ranging from top management to line-level employees. One of the key areas of it is related to the utilization of corporate CRM system which serves as crucial information source in providing better customer insight. This article explores directions for improving the use of CRM system through analyzing the gaps between its perception by managers and sales representatives in a multinational pharmaceutical company. The field research is based on a quantitative data from online questionnaires. The sample consists of 219 representatives based in four emerging markets. These initial findings could be useful for other pharmaceutical companies in emerging markets.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.
портовый менеджмент, показатели деятельности, анализ эффективности, система учета, распределение издержек, методы анализа деятельности портовой системы
At present many industries reveal tendency for setting up of vertically integrated companies (VIC) the structure of which unites all technological processes. This tendency proved its efficiency in oil industry where coordination of all successive stages of technological process, namely, oil prospecting and production -oil transportation - oil processing - oil chemistry - oil products and oil chemicals marketing, is necessary. The article considers specific features of introduction of "personnel management" module at enterprises of oil and gas industry.
vertically integrated companies; personnel management