3M Advanced Medical Wound Dressings in Russia: Building a Competitive Edge for Low-cost and Effective Penetration into Emerging Market. The Case Centre CASE-Reference no. 514-045-1. www.thecasecentre.org
This case is focused on 3M endeavors to launch the innovative healthcare products in Russia as one of the fast developing emerging markets. Health care market in this country has shown a susbstantial growth with CAGR of 8.6% most recently that made it appealing for diversed market leader to introduce more products from the international range yet not available locally. 3M have established their local representative office in 1991 and ever since their local business have grown to 6 departments responsible for 3M core products market development. Medical Treatment solutions department was assigned with a task to study the opportunity for innovative medical bandages in the local market. The case addresses the common issues of market study, competition and distribution analysis, buying patterns, local regulations impact that have to be taken into account for making decisions in the areas of product positioning, pricing, promotion mix leading to the marketing strategy development and execution which should be effective in this particular emerging market.
The purpose of this paper is to describe how the food embargo influenced changes in the relationships among Russian agricultural companies. To achieve the objectives the qualitative research – focus group was conducted. The participants were selected from the companies of Russian agro-industrial complex, who at the time of the study held the position the position of senior or middle management personnel in the companies operating in Russia. The research identified that there are desires for long-term partnerships, priority of such characteristics as reliability and confidence in the company and its reputation among Russian agribusiness. That illustrates that the companies of the Russian agroindustrial complex are oriented to use the relational approach. The research identified that among agricultural companies in Russia the relevance of the Relationship marketing approach is increasing.
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.
Emerging market companies typically have lover values than their counterparts in developed markets. In order to account for this practitioners typically use an ad hoc premium in discount rate in their DCF models – so called country risk premium. Approaches for this premium calculation do not have adequate theoretical basis in the literature. There is an alternative to premium which is in accounting for a country risk through scenario approach. However it is difficult to implement practically because of the calibration problem. Thus there is a problem of a country risk.
The concept of country risk premium has to be abandoned. We propose following procedure in emerging company DCF valuation.
1) Calculate theoretical discounted value as if the business is from developed country.
2) Account for the risk of an emerging market applying the discount. The discount can be obtained through analysis of differences between emerging and developed stock market multiples. As a result the problem of an emerging country risk stops being "black box" and becomes clear, observable and verifiable.
This paper proposes critical analysis of the theory and practice of discount rates. In addition paper gives a theoretical basis for country risk from the prospective of New Institutional Economics.
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.
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