Global Market Research Articles

Filling the weapons procurement gap in the Indo-Pacific: South Korean arms exports to India and Indonesia

ABSTRACT How do second-tier suppliers adapt to defense-industrial globalization and expand their weapons sales in different regions? We offer a demand-side explanation of arms procurement. As the first-tier suppliers focus on advanced power projection weapons, two types of qualitative structural gaps emerge in the global arms market either due to excessive superiority or utter neglect of certain platforms. Consequently, buyer states turn to weapon systems produced by second-tier suppliers as they are proximate to their qualitative needs in terms of strategic/technical and doctrinal requirements. Through case studies of South Korea’s weapons sales to India and Indonesia, we show how a second-tier supplier is able to outbid its first-tier counterparts on qualitative grounds to fill the structural gap left by global power disparity.

Operational excellence in African markets: unveiling its drivers, processes and impacts through a mixed-methods approach

Purpose The aim of this study is to explore the concept of operational excellence (OPEX) in the context of African businesses. It seeks to identify the main themes, topics and trends within the OPEX discourse and to uncover emerging areas and potential directions for future research. By emphasizing the unique challenges and opportunities in African markets, this study aims to broaden the understanding of OPEX and its applicability in diverse business environments. Design/methodology/approach This study adopts a mixed-methods approach, combining qualitative and quantitative analyses. Using topic modeling and text analytics, the study examines a range of scholarly literature and social media content. The methodology involves a meticulous extraction and analysis of data from peer-reviewed journals, alongside an exploration of themes emerging from social media, blogs and forums. This approach allows for a comprehensive understanding of OPEX trends in both academic and practical contexts. Findings The study reveals that OPEX in African businesses is intricately linked with innovation, strategic leadership, cultural dynamics, global market integration and data analytics. Key findings include the importance of integrating cultural understanding into operational strategies, the role of adaptive leadership in navigating the African market and the necessity of aligning operational processes with global trends, innovations and data-driven insights. The research also highlights the unique challenges African firms face, such as balancing local and global business practices, leveraging cultural diversity for competitive advantage and harnessing the power of data analytics for OPEX. Originality/value This research contributes original insights into the understanding of OPEX in African business contexts, an area that has been relatively under-explored in existing literature. It offers a novel perspective by integrating academic and practical viewpoints, thereby providing a more holistic understanding of OPEX. The findings have significant implications for both business leaders and researchers, offering strategic directions for firms operating in or with African markets and suggesting new avenues for academic inquiry in the field of OPEX.

HOSTELLING AT GLOBAL AND NATIONAL LEVELS

The current state of the global hostel market is characterized. It has been established that the global hostel market reached USD 4.1 billion in 2022. The leader in the hostel market is the Asia–Pacific region, which is experiencing active recovery in international tourism following the COVID–19 pandemic. The European region ranks second, followed by the Americas. It has been determined that the largest share of hostel guests consists of individuals aged 25 to 34. The TOP–5 hostel networks in the world as of 2022 were: a&o Hostels, Zostel, Meininger, St Christopher’s Inns, and Nomads World. The current state of hostelling in Ukraine is analyzed. It has been established that at the present stage, under the conditions of Russian aggression in Ukraine, official statistics do not reflect the actual number of hostel establishments. The review of the hostel base was conducted based on online booking websites. Hotelmix offers guests hostels in 20 cities of Ukraine, totaling 272 hostels. The largest number of hostels is located in Kyiv (39.3% of the total number of available hostels), followed by Lviv (20%) and Odesa in third place (7.4%). Booking.com offers guests 275 hostels in various regions of Ukraine. It was found that not all hostels are listed on official online booking platforms. A SWOT–analysis of hostel businesses was conducted. Positive changes in the hostel market require joint actions from government bodies and hostel operators. Combined efforts from both sides will ensure measures at the national level to improve hostel operations and advance the hostel industry to a new stage of development, while simultaneously preventing the influence of negative factors arising from the weaknesses in hostel operations (lack of service quality standards, the mass emergence of economy–class hotels in the market, insufficient information on hostel services, lack of legislative regulation for hostel operations) and threats (oversaturation of the market with hostel services, travelers' changing preferences toward more comfortable accommodations, the growth of the 2–3 star hotel segment, which offers an alternative to hostels, lack of government support, and a decrease in investment flows).

Analisis Strategi dan Perkembangan Industri di Indonesia

This study analyzes the strategy and development of industry in Indonesia with the aim of identifying the main factors that influence the growth of the industrial sector. This study uses a qualitative method with a literature study through related documents and journals. The results of the study indicate that industrial growth is influenced by economic, social, technological factors, and government policies. These factors include the growth of the manufacturing sector, the availability of skilled labor, investment, and the adoption of Industrial Revolution 4.0 technology. Government strategies such as Making Indonesia 4.0, tax incentives, and infrastructure improvements have played a significant role in encouraging industrial competitiveness in the global market. However, challenges such as limited infrastructure, high production costs that hinder growth, especially for Micro, Small and Medium Enterprises (MSMEs) and product quality that does not meet international standards are still major obstacles. This study concludes that in order to maintain competitiveness, industry must increase innovation, implement new technologies and strengthen the quality of human resources. The active involvement of the government in supporting policies and infrastructure is crucial to encourage sustainable industrial development.

Comparative Analysis of Policy Effect Evaluation of New-energy Vehicle Industry in China and the U.S.

Against fluctuations in the global automotive market, the electric vehicle (EV) industry has demonstrated a positive development trend overall. China has become a leader in battery production and related infrastructure construction, while the United States, though ranking third, also holds an important position. This paper analyzes the effects of government-led policies and market-driven policies on the electric vehicle policies of China and the United States. It explains how the industries and policies of the two countries interact. By analyzing the current state of the industries in both countries and their different policy preferences in terms of fiscal policy, infrastructure allocation, and other dimensions, the following conclusions can be drawn. Firstly, compared to the incoherent central policies and decentralized local policies lacking central authority in the U.S. electric vehicle industry, China's top-down long-term policies lead to a more consistent and efficient development of its electric vehicle industry. This article concludes that China's strong authoritative and consistent policies in the electric vehicle industry play an important role in maintaining its leading position in the global electric vehicle industry.

The Spillover Effects of Market Sentiments on Global Stock Market Volatility: A Multi-Country GJR-GARCH-MIDAS Approach

In behavioral economics, it has widely been documented that there might be a close relationship between overall market sentiment and economic performance, such as GDP per capita. In this paper, we investigate the effects of market sentiment on stock market volatility, which has widely been recognized as an important factor for economic sustainability. In particular, we aim to identify the existence of spillover effects of market sentiments on global stock market volatility. As a first attempt, we chose ten countries from major economic regions over the world (including America, Asia, Europe, and Oceania), and analyzed their interdependence and interconnectedness using a GJR-GARCH-MIDAS model. The results highlight that an individual country’s stock market volatility is significantly influenced not only by its own market sentiment (proxied by the consumer confidence index) but also by the overall market sentiments of other countries across the world. The results also highlight significant country-by-country heterogeneity in the time lags of the global spillover effects, which indicates substantial heterogeneity in the behavioral dynamics of individual countries.

Designing and assessing experiential learning pedagogy for an intercultural communicative competence training module: a quasi-experimental study

Intercultural communicative competence (ICC) is crucial for future workers in the global job market, where many feels unprepared to communicate effectively with culturally diverse colleagues. Therefore, university students must develop this skill to stay competitive. Experiential learning pedagogy, focused on ICC training, can enhance final-year students’ abilities, offering an alternative to traditional teaching methods. To examine the effectiveness of experiential learning pedagogy in a redesigned ICC module for undergraduates, a multiple-group pre-test and post-test quasi-experimental design was adopted. Data were collected from 31 undergraduate students at two public universities in Indonesia. The module was redesigned to incorporate experiential learning pedagogy, providing various opportunities through face-to-face training workshops. Validated and reliable instruments measured students’ experiential level with the pedagogy and their competencies in intercultural communication. Descriptive and inferential statistics were used to analyze the data. Participants showed a substantial enhancement in the Intercultural Communicative Competency Scale after the training workshop, as evidenced by higher post-test scores compared to pre-test scores. Additionally, the post-test data demonstrated a moderate improvement in participants’ expectations from the pre-test for the experiential learning pedagogy. The findings prove the effectiveness of both the content and the pedagogy of the module. Furthermore, these modules should continually integrate more interactive elements to better meet learners’ needs.

Analysis of Coca-Cola Company's Marketing Strategies and Business Model

In the context of the highly competitive global beverage market, this paper takes the Coca-Cola Company as the research object to analyze its unique marketing strategies and business models. With a rich history dating back to 1886, Coca-Cola has become the world's largest beverage company nowadays, with extremely high brand recognition and loyalty. Marketing strategies are a focus point of this essay. In the early stage, it increased brand awareness through outer-package bottle design, targeting American soldiers during World War II, and changing the Chinese-market-translated name. In the later stage, it strengthened its market position by investing a large amount in advertising, emphasizing the emotional connection with consumers, and establishing strategic partnerships with major events. Besides, this paper also analyzes its business model, which includes extensive distribution channels and multi-source revenue composition. This paper aims to provide targeted suggestions for Coca-Cola Company to face current challenges and offer references for other enterprises.

Craft and strategic entrepreneurship: Exploring and exploiting materiality, authenticity, and tradition in craft‐based ventures

AbstractResearch SummaryThis work explores the intersection of strategic entrepreneurship and craft‐based ventures, focusing on the integration of materiality, authenticity, and tradition in the creation of competitive advantage. Craft, historically rooted in artisanal, small‐scale production, has evolved into “advanced craft,” requiring high expertise while also engaging with modern economic goals such as scaling, technological adoption, and global value chains. Craft‐based strategic entrepreneurship embraces creativity and innovation, alongside traditional values and high‐quality production, to engage with the modern economy without the alienating effects of industrialization. We highlight how craft entrepreneurs balance the pursuit of innovation with the preservation of authenticity and heritage. By examining the materiality, authenticity, and tradition embedded in craft, our work contributes to the understanding of how these elements influence competitive advantage and the broader relationship between economy and society in entrepreneurial ventures.Managerial SummaryWe offer practical insights for owners and managers in craft‐based ventures seeking to balance tradition with modern business strategies. As the craft sector evolves into “advanced craft,” entrepreneurs must integrate artisanal expertise with scalable operations, technology adoption, and global market engagement. We highlight how successful craft ventures maintain high quality, authenticity, and cultural heritage while embracing strategic entrepreneurship practices like innovation, planning, and partnerships with larger organizations. For owners and managers, the key takeaway is the importance of preserving the unique values of craftsmanship—such as materiality, authenticity, and tradition—while also adopting modern tools like advanced technology and marketing strategies to scale and compete. By understanding these dynamics, craft‐based businesses can enhance their competitive advantage, foster meaningful customer engagement, and navigate challenges like technological disruption and market expansion without losing their core identity.

Navigating Global Markets: Strategies for Rubber Wood Furniture Expansion

Navigating Global Markets: Strategies for Rubber Wood Furniture Expansion

Smarteye.id’s Business Expansion Strategy for Global Market Penetration through the Ansoff Matrix

The rapid advancement of Virtual Reality (VR) technology has spurred demand for high-quality VR content, but its development remains time-consuming and costly. Smarteye.id, an Indonesian tech start-up backed by Telkom Indonesia, addresses this challenge with Seville, a VR plugin designed to streamline content creation. With global VR adoption on the rise, Smarteye.id aims to expand Seville internationally. However, this expansion faces challenges such as fierce competition, varying consumer preferences, and product localization constraints. This study applies the Ansoff Matrix to identify potential strategies for global market entry, from new product development to market penetration. Findings suggest that a product development strategy offers a comprehensive approach to accelerating Smarteye.id's growth. The research contributes to strategic management and technology marketing fields.

The Importance of Sustainability: Investigating the Alignment Between Strategic Intent and Strong Sustainability Assumptions in Brazilian Food Technology Companies

ABSTRACTThis paper investigates the alignment between the missions, visions, and values of food technology firms and robust sustainability principles. Employing a comprehensive research methodology including surveys, secondary data analysis, and semi‐structured interviews with managers of food technology startups, this study identifies and examines key areas: (1) strategic components and pivotal aspects of positioning within the food technology industry; (2) necessary changes for supporting sustainability‐driven business models; and (3) guidelines to assist food technology proprietors and managers in developing the required competencies to meet evolving societal and global market demands. The findings highlight the need for capacity development in resource circularity, material regeneration, and innovative processes, suggesting the circular economy as a strategic approach for achieving strong sustainability. The paper outlines specific changes for decision‐makers to consider. While contextual, this study represents a distinctive effort supporting the transition toward strong sustainability, grounded in the circular economy and dynamic, relational capabilities perspectives.

The Centralized Management of Folk Art Trade in Hungary

AbstractThe decorated artifacts of rural craft industries were the forerunners of the products which, from the late 19th century, were made for the organized trade that entered the global market and met the needs of the Hungarian market. The production was managed by the increasingly numerous cottage industry associations, later cottage industry cooperatives and independent companies. Until World War II, craft and folk art products were marketed by centrally managed organizations, as well as by individual entrepreneurs, commercial travelers, trading companies, and cottage industry cooperatives. From 1948 onwards, the marketing of the products of cottage industry cooperatives was exclusively in the hands of state-controlled domestic trading and export companies. After the political regime change in Hungary in 1989, the applied folk arts cooperatives continued to operate for some time, but the centrally managed trading companies ceased to exist. The cooperatives carried out commercial activities by building on their previous relationships. By the 1990s, however, the global market for folk art products and the economic conditions for their production in Hungary had changed, and the folk art products of the cottage industry cooperatives have been phased out. This paper focuses on the history of centrally managed institutions of commerce from the 1870s to 1989 and their aftermath up to the 1990s.

Thermo-Mechanical Coupled Analysis of Electric Vehicle Drive Shafts

With the growing concerns over global warming and abnormal weather patterns, the development of eco-friendly technologies has emerged as a critical research area in the transportation industry. In particular, the global automotive market, one of the most widely used sectors, has witnessed a surge in research on electric vehicles (EVs) in line with these trends. Compared to traditional internal combustion engine vehicles, EVs require components with high strength and durability to achieve optimal performance. This study focuses on the development of a constant velocity (CV) joint, a critical component for reliably transmitting the maximum output of an electric vehicle motor. Unlike conventional numerical methods, the proposed thermo-mechanical coupled analysis simultaneously accounts for thermal and mechanical interactions, providing more realistic operational performance predictions. This analysis, conducted using the thermal modules of Ls-Dyna and ANSYS Mechanical, effectively simulated field operation scenarios. Prototype testing under simulated conditions showed a 6% discrepancy compared to numerical predictions, validating the high accuracy and reliability of the proposed method. This robust thermo-mechanical coupled analysis is expected to improve the durability and reliability of CV joint designs, advancing electric vehicle component development.

Transforming Architectural Programs to Meet Industry 4.0 Demands: SWOT Analysis and Insights for Achieving Saudi Arabia’s Strategic Vision

The Fourth Industrial Revolution (Industry 4.0) has profoundly transformed industries worldwide through the integration of advanced digital technologies, including artificial intelligence, digital twins, building information modeling (BIM), and the Internet of Things (IoT). The Architecture, Construction, and Engineering (ACE) sectors are increasingly adopting these innovations to meet the evolving demands of the global market. Within this dynamic context, Saudi Arabia has emerged as a front-runner and significant investor in this sector, as evidenced by the launch of ambitious mega-projects such as NEOM and The Line. These developments prompt valuable discussions about the readiness of graduates to adapt to rapid technological advancements and meet the current demands of the Saudi market. Although numerous studies have explored this issue, the Saudi context presents unique challenges and opportunities due to the accelerated pace of change within the ACE sectors, driven by the goals of Vision 2030. For this reason, this paper aims to address this gap by exploring the readiness of architectural programs in the context of Saudi Arabia to meet the demands of Industry 4.0. To achieve this, a comprehensive literature review was conducted, developing an analytical framework. Subsequently, a multiple-cases approach was employed, with an overall top-level discussion on the undergraduate architecture program subjects available in the five regions in Saudi Arabia. A combination of field observations, domain expertise, and evidence-based coding methods was employed to develop the SWOT analysis. The SWOT framework was utilized to identify key strengths, weaknesses, opportunities, and threats within the current academic programs. The findings were then analyzed in a comprehensive discussion, highlighting necessary transformations in existing programs. The methodology employed in our study involves prolonged engagement and persistent observation to enhance the quality and credibility of the discussion. This paper serves as a roadmap for guiding future educational reforms and aligning architectural education with emerging industry demands and technological advancements in the field. Four key themes are essential for aligning architectural education with Industry 4.0: sustainability in the built environment, innovation and creativity, digital applications in the built environment, and entrepreneurship and leadership in venture engineering. It also strongly emphasized sustainability courses and noted notable deficiencies in preparing students for a digitally driven professional landscape. For example, the average program comprises 162 credit hours and 58 courses, with only six related to Industry 4.0. The top five institutions offering Industry 4.0 courses ranked from highest to lowest are ARCH-U11, ARCH-U8, ARCH-U3, ARCH-U4, and ARCH-U15. ARCH-U11 offers the most Industry 4.0 courses, totaling 15, which account for 26.8% of its courses and 15% of its credit hours, in contrast to ARCH-U20, which offers no courses. The novelty of this research lies in its comprehensive analysis of the readiness of architecture program curricula from 20 Saudi universities to meet the requirements of Industry 4.0. Importantly, these findings support previous studies that established guidelines that mandate the inclusion of sustainability, innovation, and digital skills in architectural education programs. Contribution to the knowledge and findings is valuable for educational institutions, policymakers, and industry leaders, offering insights into evolving architectural education to meet future industry demands and foster technological innovation and sustainable development. Moreover, it provides actionable recommendations for curriculum development in alignment with Vision 2030. Contrary to expectations, findings show that lower-ranked universities offer more Industry 4.0-related courses than higher-ranked ones, emphasizing the need to align university evaluation standards with labor market demands.

Cosmopolitan nationalism as higher education policy? Converging and diverging discourses from China, Japan, and Korea

ABSTRACT This critical discourse analysis explores cosmopolitan nationalism as neoliberal reform within East Asian higher education (HE). Placing cosmopolitan nationalism within the Foucauldian genealogical oeuvre, we draw comparisons between Chinese, Japanese, and Korean HE policy to expand the theoretical basis of this emerging framework. Against this background, HE policy draws our gaze towards the tensions inherent to State-level demands for ‘enterprising’ units of human capital, or homo œconomicus. By producing graduates that are simultaneously internationalized and nationally-bound, HE pressures learners to incorporate the de-facto dispositions, skills, and credentials deemed necessary to the global market order. Here, policy maneuvers demonstrate a broadly analogous yet, unique predilection for nationalistic rhetoric during their resistance and accommodation of Western-led neoliberalism. Nonetheless, State responses to said hegemony demonstrate conflicting approaches to the knowledge economy and, for that matter, which citizens are deemed ‘worthy’ of the ‘right kind of’ education. Results indicate that, despite a shared cultural legacy, the socio-political realities of each HE provider engender, to varying degrees, friction between the intended and material outcomes of HE marketization. Thus, we seek to provide greater insight for scholars of educational markets to interpret the forces and mechanisms shaping neoliberal character-building, both regionally and in alternative contexts.

Factors of China's positional technological leadership in the global digital innovation market

Subject. This article considers the development of digital technologies as a condition for achieving economic leadership in a global context. Objectives. The article aims to analyze the reasons for China's leadership in the world innovation market. Methods. For the study, I used the methods of comparative and structural analyses. Results. The article finds that China's leadership in the development of the digital economy is due to the attractiveness of the digital industry for foreign and domestic investment, the availability of a developed information and communication infrastructure, including for households, financial and legislative support for the digitalization of the economy at the government level, and the stimulation of the development of large high-tech companies. Conclusions. China is the country that has the most favorable environment for the development of the digital economy. China's practices can be used to develop the market for digital solutions in the Russian economy.

World Coal Market: Current State and Long-Term Trends

This paper aims to identify major trends in the evolution of the global coal market in the 21st century. The relevance of the topic stems from the fact that under the Paris Climate Agreement many countries are committed to reduce fossil fuel production, and this is likely to have an impact on global coal production and on international trade flows. To analyse the dynamics and structural changes in global coal production the author uses International Energy Agency data and fill in existing gaps with statistics provided by Euracoal database. The main findings suggest that during 2000–2023 the global coal production has almost doubled, mainly due to the contribution of Asian counties – China, India and Indonesia, being now the largest world exporters of coal. The share of exports in the total world production tended to enlarge from 13% in 2000 to 17% in 2023. While Russia constantly accounts for 5% of the global coal production, it ranks third among the largest coal exporters with a share that grew from 6% in 2000 to 15% in 2023. Fundamental changes have occurred in the geographical structure of world imports. The combined share of China and India expanded during the period 2000‒2023 from 3 to 46%, whereas the combined share of the EU and Japan dropped from 50 to 18%. Meanwhile the global coal market is moving to Asia, its already high grade of geographical concentration is still building up. These trends are typical for production, exports and imports (although to a somewhat lesser extent). The share of the five largest exporters climbed from 62% in 2000 to 82% in 2023, and the share of five largest importers grew from 64 to 72%, respectively.

Distinctive Features of the Mexican Automobile Industry and its Industrial Integration in North America

The article analyzes the economic state of the Mexican automotive industry at the beginning of the third decade of the 21st century, with a special emphasis on the obstacles preventing the further successful development of the industry. Due to the significant changes in the structure of the global automotive market that have occurred in the last decade, the Mexican automotive industry, which is one of the key manufacturing sectors in the country's GDP, requires deep technological transformation, as well as access to new promising markets in developing countries. Based on the results of an analysis of modern economic indicators and factors that significantly influence the situation in the country's automotive industry, the article proposes various opportunities for solving existing problems, which in the future will reveal the potential of the industry and bring the existing business processes within it into line with the goals of achieving a zero-emission balance CO2 and sustainable development of the world economy.

The Soft War of Biotechnology: The Republic of Korea and the United States

The Republic of Korea is striving to become one of the leading players in the global biotechnology market by announcing the industry as strategic, constantly increasing and attracting investments. However, the economic confrontation between the United States and China puts the country in a dependent position, forcing it to invest in economically unprofitable American projects and abandon a profitable partnership with China. The close cooperation between the United States and the Republic of Korea in the field of biotechnology allows America to control the potential growth of the Republic of Korea, preventing it from becoming a competitor in the future.