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- Johanson, Martin
(författare)
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Entering and Participating in the Turbulent Russian Market : Internationalisation as a Search and Discovery Process
- 2002
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Ingår i: Journal of East-West Business. - 1066-9868 .- 1528-6959. ; 8:No. 3/4, s. 61-82
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Tidskriftsartikel (refereegranskat)abstract
- This paper discusses how foreign firms enter and operate in a turbulent Russian market. Following the internationalisation process model, this paper is based on the assumption that current business activities are a driving force of internationalisation. Since planning in highly turbulent and uncertain markets is difficult, the IP model with its emphasis on gradual learning provides a good starting point. When foreign markets are assumed to be rather static, experiential knowledge can be easily utilised in subsequent actions. However, the Russian market is highly turbulent, which questions the value of experiential knowledge and seems to challenge the validity of IP-model. In an attempt to address this problem, the paper suggests to deconstruct the concept of current business activities, so that it becomes more powerful in explaining the behaviour of firms in the markets characterised by high turbulence. Drawing on the Austrian Economics, this paper suggests that current business activities in a foreign market can conveniently be seen as consisting of two fundamental processes - search and discovery. The search process occurs when a firm already has knowledge about what it is looking for, but has to search for it. The discovery process initiates as searching for something known, but the turbulence turns it into a discovery of something else. Since the market conditions change rapidly and the knowledge is imperfectly distributed, discovery is an essential part of the firm’s business activities in the Russian market. In the end, the paper discusses the implications of search and discovery processes for firms both entering and par-ticipating in the Russian market. Finally, it advances relationship as a mechanism to handle the market turbulence.
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| 3. |
- Wilson, Timothy, 1938-
(författare)
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Romania at a Cross Roads : The Business Situation in Romania
- 2000
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Ingår i: Journal of East-West Business. - London : Routledge. - 1066-9868 .- 1528-6959. ; 6:3, s. 65-91
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Tidskriftsartikel (refereegranskat)abstract
- Observations have suggested that results of initial elections were the single most important factor in determining central and eastern European progress after the U.S.S.R. breakup in 1991. Romania thus presents a unique case in studies of this region. Initially it elected a government that shunned the ‘‘shock therapy’’ required to get a new economy started, but in 1996 elected a reform slate of officials. Thus, it has started the recovery process that more perceptive countries started five years earlier. These post-election developments in Romania are clearly of interest because of the model it presents for other countries in which the electorate may be considering similar changes. This paper reports on the situation in Romania as it related to the evolving economy there in the spring of 1999, three years after the critical election. It is adjudged that conditions imposed as part of the contemporaneous World Bank agreement were of course steps in the right direction. Nevertheless, progress toward a viable economy would require further progress in establishing a rule of law and in developing a much larger small business sector, which are recommended for any subsequent country making a similar transition. Forecasts by the prime minister suggested Romania would enter the EU after 2010. It is suggested that it would take at least that long before Romania’s economy approached EU level.
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