Latvian Industry Research Articles

Potential Development Strategy for the Shipbuilding and Ship Repair in Baltics

This research is focused on the shipbuilding and ship repair industries in Latvia. The main purpose of this manuscript is to investigate all possible options to further develop the shipbuilding and ship repair industries in Latvia Initially, a brief overview of Baltics and of Latvia, with its biggest shipbuilding companies and its possibilities, are depicted in detail. The analysis is developed with the help of SWOT analysis and a Risk assessment matrix to find Latvia’s strengths, weaknesses, opportunities, and threats, then to identify all possible risks in order to identify potential issues that could negatively impact key business initiatives or critical projects, and to develop a marketing strategy. It is concluded that Latvian shipbuilding can be benefited by i) its strategic location in Baltics, ii) the highly qualified workforce employed in Latvian shipyards, iii) the certified naval expertise of the shipbuilding facilities. At the same time, the external environment and the regional competition is harsh and some points are suggested for Latvian shipbuilding to survive and possibly flourish over the next years, such as: i) repair the technologically obsolete equipment and facilities to be able to satisfy the present market trends, ii) incorporate and utilize new materials and technologies, iii) give incentives to qualified natives that went abroad for employment to similar facilities to return to Latvia and utilize their accumulated experience, thus solving the issue of the declining workforce on the sector and iv) specialize in some aspects of shipbuilding, such as luxury ships and ice class, to secure a more specialised and dedicated market.

DEVELOPMENT OF THE OUTSOURCE ACCOUNTING MARKET AND TRENDS IN LATVIA

Since 2008, the outsourced accounting industry in Latvia has grown and developed rapidly. The use of outsourced accounting is an opportunity for companies to save money and increase their competitiveness because these enterprises can pay all attention to business growth and cut costs for in-house accountants. The author has studied the market of outsourced accounting services in Latvia, its saturation, development trends, as well as possible future development scenarios of the industry, based on trends in the world and IT innovations. The article summarizes statistics on companies operating in the industry, the largest “players” in the industry, and their distribution by counties. Case study shows market saturation in different regions of Latvia. The development of technologies and possibility to work remotely have contributed to the popularity of the profession, which in turn as contributed to the growth of the industry.

ANALYSIS OF OUTSOURCED ACCOUNTING SECTOR ACTIVITY IN LATVIA

Problem under investigation: changes in the legislation of the outsourced accounting industry and introduction of new requirements. Legislative changes affect performers of economic activity who provide outsourced accounting services, their number is decreasing, but due to the increase in taxes, entrepreneurs are forced to increase their prices, which is the result of an increase in the total turnover of companies. The aim of the study: to explore the outsourced accounting industry in Latvia. The tasks of the study: explore the concept of accounting and the legal acts governing it, to analyse statistical data on the results of enterprises in the outsourced accounting sector.

DEVELOPMENT OF THE TOURISM INDUSTRY IN LATVIA

The problem of the research is the security measures and restrictions introduced by the government, as well as the measures implemented by other countries have a negative impact on the development of the tourism industry. The aim of the research is to evaluate the development opportunities of the tourism industry in Latvia. From the beginning of 2020, when the Covid-19 restrictive measures were imposed, the situation in the tourism sector began to deteriorate. The most negative effects were felt in labour - intensive sectors - transport service, passenger transport, reservation services of travel agencies and tour operators, accommodation and food services. Latvia has developed a strategy to mitigate the consequences of the Covid-19 crisis with a set of measures that will allow overcoming the economic crisis caused by Covid-19 and its mitigation measures. The study analyses the statistical data on the impact of Covid-19 on the development of the tourism industry. Faced by the tourism industry when security measures and restrictions were put in place to mitigate the effects of the Covid-19 pandemic. The results of the study revealed that government restrictions and security measures are having a negative impact on tourism development, as economic performance has deteriorated significantly and it will take time for the tourism industry to recover from the crisis.

FINTECH INDUSTRY AND FINTECH DEVELOPMENT TRENDS IN LATVIA

The financial sector has changed significantly in recent years due to rapid technological developments. Financial technologies in other words FinTech have introduced new trends in the financial market and already as of now FinTech has become an integral part of the financial world. With the introduction of various financial technologies, consumers are undeniably benefiting, but the question of what risks it brings to economies and what impact it has on financial stability remains relevant. The research summarizes several expert opinions about the development opportunities of the FinTech industry in Latvia.

DEVELOPMENT AND UNDERSTANDING OF THE CONCEPT OF CULTURE AND CREATIVE INDUSTRIES IN LATVIA

The issues of creative industries are relatively new and topical both in the world and in Latvia because the key issues connected with creative industries have been included in policy planning documents at various levels since 2005. Research on creative industries has been carried out, and funding models for creative industries have been sought, etc. We have to take into account the adaptable and evolving nature of the sector of creative industries because one universal model does not exist for creative industries. The recent emergence of the key issues of the sector on the Latvian political agenda and the evolving nature of creative industries have increased differences in understanding of the various parties involved in this sector. Since the arrival of the concept of creative industries in Latvia, a shift of emphasis has taken place because the initial reports and policy planning documents used the notion of culture and creative industries, and emphasised confidence in the importance of cultural investment in economy. However, recently the notion of creative industries is used more often, and a distinction is made between creative industries and culture industries at the political level. After conducting her research on the specific understanding of the creative industries sector by various parties involved in the sector, the author of the paper came to a conclusion that there is an apparent plurality of opinions. Thus, there are differences in understanding the questions of creative industries among various parties involved in the creative industries sector; the opinions also differ within the same party. The understanding of culture and creative industries often differs from the policy framework for creative industries. It does not promote a common understanding among creative industries, and it hinders the overall development of the sector.

Current Achievements of the Latvian Apple Breeding Programme

Abstract The commercial apple growing industry in Latvia has a lack of climate adapted modern cultivars. The Latvian apple breeding programme is targeted at cultivars adapted to the cool climate of Baltic countries and Scandinavia, with fruit quality and storage suitable for commercial production. Since 1989, scab resistance (Rvi6, Rvi5) donors are included in crosses. Several cultivars already show commercial promise — ‘Dace’, ‘Gita’, ’Monta’ (Rvi6) and the polygenic resistant ‘Laila’ and ‘Pure Ametist’. However, in 2020, the Rvi6 resistance was overcome in Latvia. Donors of polygenic scab tolerance may prove a better alternative. The most successful donors have been ‘Iedzēnu’, ‘Eksotika’, ‘Alesya’, and ‘Bohemia’. Marker assisted gene pyramiding was started, including markers linked to the resistance genes Rvi5 and Rvi6. Scab resistant cultivars ‘Edite’, ‘Felicita’, ‘Ligita’, and ‘Paulis’ show low susceptibility to Neonectria ditissima canker. To achieve high fruit quality and good storage, worldwide commercial cultivars are crossed with local adapted cultivars. Such crosses that have been registered include ‘Inta’, ‘Lora’, and ‘Saulesmeita’. Recent crosses for quality include ‘Honeycrisp’, where H-1-07-36 and H-1-07-42 show most promise. Improved biochemical content and flesh structure is one of the main targets. An additional line of breeding is aimed at ornamental and cider apples. The scab resistant Nr.19-97-154 (Cidross) was selected for cider. The red leaf columnar apple ‘Karlens’ and the compact red-leaf crab ‘Auce’ have been registered.

Case study on Employee Competence Regarding Competitiveness and CSR issues of the Forest Industry Companies

It would be helpful if the companies operating in the forest industry in Latvia in the management process use advantages of strategic management. To make further progress in competitiveness management, the developed strategy should be effectively managed and the achieved progress - assessed. [8.;13.;14.] The strategy consists of the intended activities and the requisite improvements. [5.] The aim of the case study on competence of the employees regarding the competitiveness issues in the forest industry companies is to find out internal problems of the companies operating in the forest industry and provide recommendations of possible solutions to balance potential changes of the industry external environment. [9.] By choosing optimal and economically, socially and environmentally balanced “way” of the development, the appropriate strategy and tactics of competitiveness management and the competitiveness of strategic decision-making based on employee competence with regard to the sector’s competitiveness and CSR issues, should be chosen.

Diskusijas “Vai Latvijas kino trūkst sieviešu stāstu?” apspriede sociālajā medijā Facebook. Komentāru analīze

Imbalanced gender representation and the reproduction of stereotypes in cinema are the subjects of international discussion and intervention by gender mainstreaming in the film industry. According to the UNESCO 2018 Global Report “Re|Shaping Cultural Policy”, women are under-represented in the film industry, have limited access to resources, and face significant gender pay gaps. Change is needed to create a world in which a woman as often as a man is a decision-maker and in which watching films written, directed, and made by women is widespread. The shortcomings in the management of funding and in the principle of diversity need to be addressed so that viewers can see different and diverse stories and experiences on cinema screens. The discussion “Stolen Kristaps” of the LTV1 program “100 grams of culture” actualized and localized the problem of gender parity in the film industry in Latvia. The discussion that started in TV format also continued on social media. The aim of the article is to explore the discussions inspired by the social media Facebook. The aim of the article is to find out what was discussed, what arguments were used, where are we, and where do we want to go? The analysis of the discussions reveals that there is no consensus among the representatives of the film and art industry on whether the lack of women’s stories in Latvian cinema is a problem. There is also a strong disagreement about possible approaches to resolving the situation.

Examining subjective career success of knowledge workers

Subjective career success describes an individual’s satisfaction with his/her professional life. We propose a novel model for evaluating the universal personal values as well as the behavioral and socio-demographic factors that lead to subjective career success. Data was collected from employees of organizations across 20 different industries in Latvia (with a sample size of N = 348). This study reveals that the personal values that have the most significant influence on a subjective career are self-direction and power. Behavioral factors explained nearly 30% of the variance, revealing that the most important career behaviors that lead to subjective career success are control and confidence behaviors as well as attitudes toward rewards and relationships. Curiosity behaviors and education levels had negative impact on subjective career success, and previous experience in managerial positions had the most significant positive impact on the subjective career success of the respondent included in the sample. The respondents’ genders had no impact on subjective career success. The results of the study are applicable to both organizations and their human resource departments as well as individuals who aim at advancing their careers. For individuals, there is an important message to be had that, by practicing pro-active career behaviors, they can possibly compensate for some lack of education or previous managerial experience. On the organizational side, it is important to understand what personal, behavioral, and socio-demographic factors lead to the positive perception of a career path, as it would increase one’s organizational commitment and drive him/her toward reaching their organizational goals.

Engagement of Employees as Important Motivator in Telecommunication Industry in Latvia

Engagement of Employees as Important Motivator in Telecommunication Industry in Latvia

NEW PRODUCT DEVELOPMENT OPPORTUNITIES IN REZEKNE

The tourism industry was one of the fastest growing industries in Latvia until the pandemic was declared in 2020, which brought the entire industry to a halt. Before the pandemic, travel trends were already moving towards the type of experience offered by hostels, and consumer demand had grown in the past years. Moreover, the industry data show that the number of travellers who use hostels is growing. There are several lodging opportunities in Rezekne, but there is no economical option, which would be a hostel. The research aim is to study the theoretical aspects of a new product and analyse the opportunities for the creation of a hostel – a new tourism product in Rezekne. The methods used in the research are monographic, synthesis, statistical analysis methods, and a survey. The research allowed making recommendations for the creation of a new tourism product – a hostel – in Rezekne. The results of the research and survey showed that hostel-level accommodation is needed in Rezekne.

Case study on the dairy processing industries and their wastewater generation in Latvia

The objective of the research presented in this Research Communication was to access the environmental impact of the Latvian dairy industries. Site visits and interviews at Latvian dairy processing companies were done in order to collect site-specific data. This includes the turnover of the dairy industries, production, quality of water in various industrial processes, the flow and capacity of the sewage including their characteristic, existing practices and measures for wastewater management. The results showed that dairy industries in Latvia generated in total approximately 2263 × 103 m3 wastewater in the year 2019. The Latvian dairy effluents were characterized with high chemical oxygen demand (COD), biological oxygen demand (BOD) and total solids (TS). Few dairy plants had pre-treatment facilities for removal of contaminants, and many lacked onsite treatment technologies. Most facilities discharged dairy wastewater to municipal wastewater treatment plants. The current study gives insight into the Latvian dairy industries, their effluent management and pollution at Gulf of Riga due to wastewater discharge.

DEVELOPMENT OF HEMP INDUSTRY IN THE EUROPEAN UNION AND LATVIA

Hemp is a very valuable plant because each part of it can be used in many ways. It can be used to produce innovative products for building construction, chemical industry, medicine, textile production, consumption, and agriculture. In the article, the authors have aggregated the information about hemp cultivation and processing sector development in the European Union and Latvia and have described its cultivation possibilities, technological processes, and processing capabilities. The aim of the present article was to reveal the topicalities of hemp industry development in the European Union and Latvia. The tasks of the research were to present an overall description of hemp industry development trends in the European Union and to characterize hemp industry development in Latvia focusing on the national support activities and hemp cultivation and processing opportunities. The authors of the article have performed an extensive secondary data analysis to summarize the most important activities that should be done at the national scale to further enhance the development of hemp industry in Latvia. KEY WORDS: hemp, industry, production, Latvia. JEL CODES: O18, Q16 DOI: http://dx.doi.org/10.15181/rfds.v14i3.876

Industrial Energy Efficiency Towards Green Deal Transition. Case of Latvia.

Abstract Energy efficiency policy has been one of the European Union top priorities for decades and will continue to play a vital role in the next 10 years with the introduction of The Clean energy for all Europeans. Likewise, in Latvia energy efficiency has been given high priority; however, the energy efficiency targets for industry has lacked ambitions. This research focuses on evaluating the Latvian industrial energy efficiency policy using top-down approach and benchmarking energy intensity of Latvian industry to the average of the European Union’s. Results confirm that on average Latvian industry consumes 2.6 times more energy to produce the same amount of value added compared to the average in the European Union; however, every saved energy unit in Latvia would save twice less CO2 emissions considering already largely decarbonized energy mix. In the spotlights of the Green Deal proposed by the European Commission, much higher contribution in terms of CO2 reduction and energy efficiency will be expected from the industry. Nevertheless, energy efficiency targets for Latvian industry should be sector-specific, separately addressing CO2 intensive sectors, and non-intensive CO2 sectors with low added value.

Pharmacy in Latvia during the occupation regime of Nazi Germany (1941-1945).

The study covers the period of World War II after shift of occupational powers in Latvia when Soviet occupation was replaced by the occupation regime of Nazi Germany in the summer of 1941 and retained until first half of 1945. Due to this shift gradually Latvia, Lithuania, Estonia and Belarus were merged into a single administrative area and designated as "Ostland". Soviet officials left the pharmaceutical industry, which they had tried to apply to the communist ideology from June 1940 to June 1941 creating confusion and chaos. The renewed Pharmacy Board of Latvia had to deal with the restoration of supervision and a partial return from the communist to the capitalist regime. The research provides an insight to adaptation and development of the pharmaceutical industry in Latvia during Nazi Germany occupation regime, highlighting as essential indicators the administrative operation of Pharmacy Board of Latvia and its cooperation with German authorities, the availability of medicines, process of reprivatisation of pharmacies and changes in the number of pharmaceutical employees. The research issue raised is topical, since it is this period that reflects the industry's ability to adapt and perform work in fundamentally different and severe circumstances, which include both resource deficits and the transition from one regime to another. The collected evidence shows the efforts to stabilize the pharmaceutical industry in many terms. One example was the attemptions to ensure the rational dispensing of medical products to the pharmacies and hospitals, with the greatest degree of austerity, because the supply and consumption of medication was extremely complex issue throughout the war.

The Impact of Public Interventions on Self-Sustainable Venture Capital Market Development in Latvia from the Perspective of VC Fund Managers

This paper presents the results of a study on the impact of EU structural funds on the development of a self-sustainable venture capital (VC) market in Latvia from the perspective of VC fund managers. The study had two objectives. The first was to assess the contribution of European Union (EU) structural funds (SF) programmes toward the development of a self-sustainable VC industry in Latvia. The second was to identify ways by which the structural fund support could be better exploited for the development of the VC industry in Latvia. During three SF planning periods, the stated primary goal of the programmes to support high-growth SMEs was attained—to date, 294 VC investments have been made by publicly supported hybrid VC funds. During the 2004–2006 planning period, the first generation of professional VC fund managers in Latvia emerged in response to the opportunity to manage publicly supported hybrid VC funds. During the subsequent programmes, a high continuation rate by the established managers was observed. Nevertheless, Latvian VC fund managers are not yet capable of raising private funds and still encounter difficulties in attracting the necessary level of private capital for the publicly supported hybrid VC funds. The novelty of the study is the finding that improvements in the SF programme designs did not significantly decrease the impact of factors identified as limiting the success of the operations of VC managers. This suggests and confirms conclusions of other studies that argue that public policies aimed at creating healthy and supporting conditions for VC activity are necessary in addition to public financial support for VC funds. Regarding the next planning period, the suggestion regarding programme design is to continue with already started improvements: increasing the volume of funds, widening the geographic area eligible for investments, reducing restrictions on the types of financial instruments that may be used, lowering the administrative burden for VC fund managers and avoiding micromanagement of VC funds by governmental agency. The observation that the influence of investments in VC funds on the governmental agency’s responsible for VC investments financial statements may be partly responsible for the tendency to micromanage VC funds could be useful not only in Latvia but also in other countries.

THE ROLE OF PROFESSIONAL TOURISM ASSOCIATIONS IN LATVIA

After regaining independence in 1991, various sectors of the tourism industry in Latvia are united in professional associations. They represent various stakeholders of the industry in all processes important for tourism development and are part of the tourism management system of Latvia. So far, there has been no specific research conducted on the role of professional tourism organisations in Latvia. Therefore, the aim of this paper is to evaluate the achievements and future prospects of the activities performed by the national level professional tourism associations of Latvia. The empirical part of the research is based on the qualitative research methods – document analysis and structured interviews with board members and members of associations, as well as with a senior official at the Ministry of Economy of the Republic of Latvia. Research results reveal that the role of those organisations in Latvia is valuable and bring about a positive impact on the tourism industry. Despite the variety of opinions, the majority of interviewees believe that in the course of the next 5 years there will be an increasingly strong influence of associations on the development of tourism in Latvia.

BEHAVIORAL ECONOMICS PERSPECTIVE ON ASSESSMENT OF RECRUITMENT AND SELECTION PRACTICES IN LATVIA

The aim of the current paper is to evaluate the current Human Resource Management evolution in Latvia with respect to employee recruitment and selection practices. The focus is set on the used methods of selection process in organizations, when they are hiring personnel on different organization levels. The authors of the current paper applied several empirical methods to research the recruitment and selection processes. The study was executed in two stages: (1) discussion with Latvia’s recruitments practitioners (Delphi method), and (2) quantitative study performed in Latvia. The research questions were the following. Question 1: Which recruitment methods are used in their represented organizations? Question 2: Which of selection methods are used in their organization? To collect primary data an online survey form was created which was completely self‐administrative. A sample of 16 businesses from different industries in Latvia, was selected. The sampling was conducted during the whole month of January 2020 and data is reflected in the findings. The survey results demonstrate that the employee selection methods applied in Latvia are not that various. Most of the respondents holds on to the traditional methods such as panel interviews and one to one interviews.

The Early Mesolithic bone and antler industry in Latvia, eastern Baltic

The Early Mesolithic bone and antler industry in Latvia, eastern Baltic