International Business Environment Research Articles

ОСОБЛИВОСТІ ЗАКУПІВЕЛЬНОЇ ЛОГІСТИКИ В МІЖНАРОДНОМУ БІЗНЕСІ

Introduction. Modern trends in the development of international business are characterized by dynamic global processes, in which procurement logistics plays an important role, aimed at solving a number of tasks of the enterprise to ensure its survival in international markets. Procurement logistics helps the enterprise to establish effective relations with consumers and intermediaries in the international business environment by providing it with the necessary resources in the process of managing material flows, guarantees reliable and uninterrupted supply and production of certain goods and services, and contributes to the effective organization of sales activities. Therefore, the chosen research topic is extremely relevant, timely, practice-oriented, aimed at solving specific problems of the effective organization of procurement processes on international markets. Purpose. The purpose of the article is to summarize theoretical and methodological provisions and substantiate practical recommendations regarding the development of procurement logistics in international business. The defined goal determines the fulfillment of such tasks as substantiating the concept of «procurement logistics» in international business, identifying the peculiarities of procurement logistics in international markets, developing practical recommendations for the effective organization of procurement logistics in international business. Materials and methods. The research materials are the works of domestic and foreign authors who conduct their scientific and practical research in the field of procurement logistics, in particular, regarding its implementation in the international business environment. In the process of carrying out the research, the following scientific methods were used: theoretical research (to justify the essence of procurement logistics in international business, to identify the features of its development); analysis and synthesis (to determine the main factors of influence on procurement logistics in general, and on supplier selection in particular in international business, substantiating the stages of the supplier selection process in international markets); graphic (to create drawings for the purpose of visual demonstration of factors affecting procurement logistics in international business and the stages of supplier selection); logical generalization of results (for formulating conclusions) Results. The concept of «procurement logistics» is substantiated in the scientific article. An author's definition of procurement logistics in international business is offered. It is understood as a set of measures to manage the company's material, financial and information flows in the international business environment in order to provide it with all the necessary resources for effective activity on international markets. The main influencing factors on the formation of features of procurement logistics in international business, which are important for its development, have been determined. The main groups of influencing factors on supplier selection in procurement logistics on international markets are substantiated and the supplier selection process, which consists of several stages, each of which requires the enterprise to perform the necessary actions for effective work with the supplier, is analyzed. In general, all the conclusions and proposals of this study relate to the effective organization of procurement logistics in international business. Discussion. In further research, it is proposed to focus attention on the conditions of interaction between the enterprise and the supplier in various crisis situations in the international business environment; to choose an economically justified order size on international markets; on substantiation of the optimal supply system in international business and deepening of studies of Incoterms supply conditions in international business operations.

CHANGES IN THE INTERNATIONAL BUSINESS ENVIRONMENT AND INNOVATION AND INVESTMENT BEHAVIOR OF COMPANIES IN A PANDEMIC CRISIS

Introduction. The formation of the international business environment is influenced by crises, including the current pandemic crisis in the economy and society, and the way out of this (the current "new normality") should be sought in the application of innovations and funding opportunities. Innovations determine the opportunities for further development of both business entities and the world community as a whole. Goal. Study of innovation and investment behavior of companies in the current state of the international business environment, which manifests itself in a pandemic as economic downturn and destruction of market relations due to extreme instability of commodity, resource, money markets and structural deformation of relations between them. at the national and supranational levels. Methodology. The research was conducted through analysis and synthesis to study changes in the international business environment and innovation and investment behavior of companies in a pandemic crisis; tabular methods for visual presentation of the material. Results. It is shown that the international business environment has changed the pandemic crisis, comparable to the global financial and economic crisis of 2008. They differ primarily in the cause – uneconomic in the first case and economic in the second; combines – non-cyclical nature of origin and the systemic nature of destructive changes in the economy and society. It was found that the challenges and problems of the pandemic crisis have forced organizations to rethink approaches to doing business and the rapid introduction of innovations such as artificial intelligence, blockchain, Internet of Things, process automation tools. The need for digital transformation of business is emphasized, which is an innovative strategy incorporated into the overall long-term development plan of the company, which determines the content of corporate, functional, competitive strategies. It is proved that the preconditions for the spread of digitalization in the activities of other entities are created through the digital strategy implemented by the initiating company – through its relationships with customers, suppliers, competitors. The scenario of recovery of the world economy according to UNCTAD is considered. It was found that the most difficult thing for the transformation of business in a pandemic crisis is to raise funds for innovation.companies suffer heavy losses, which significantly limits investment.

ПРЕВЕНТИВНЕ УПРАВЛІННЯ ЕКОНОМІЧНОЮ БЕЗПЕКОЮ В УМОВАХ ВЕДЕННЯ МІЖНАРОДНОГО БІЗНЕСУ

The dynamic of innovation-digital changes, transformation of the international economic space, the impact of the pandemic, the expansion of technological innovations and the pace of modernization are causing new challenges and creating economic threats in the future. The article examined the essence and conditions of preventive management. Based on the definition of characteristics and conditions of economic security in the international business environment, the authors emphasize the research on the use of adaptive-oriented approach. This allows to reveal the stability of resistance and the precautionary character of the system of economic security. Adaptability to the dynamic innovation development of the international business environment requires revention and prevention of economic threats and risks. There is also a need to take into account the potential of strategic management of the economic security system of enterprises with affordable resource-based resources. This will allow preventive management tools to prevent crisis processes and increase competitiveness. Therefore, preventive management of the economic security system is considered as a combination of measures aimed at ensuring the policy of prevention, prevention and elimination of the emergence of unfavorable phenomena, which threaten the activity of enterprises by maximizing the possibilities of management potential. From the position of adaptive economic security, preventive management is directly related to risk management, which is caused by the influence of threats to external and internal environments of functioning, especially in the conditions of conducting international business. That is why the authors describe external and internal preconditions for the emergence of threats for economic security of enterprises. The article describes the stages of development of strategic principles of preventive management. Taking into account the world experience of managing the security system of economic systems, measures of preventive management are proposed taking into account the influence of international business. The system of preventive management of economic security is structured in the following spheres: Industrial, managerial, functional and international business.

АНАЛІЗ ОСНОВНИХ ФАКТОРІВ, ЩО ВПЛИВАЮТЬ НА ФІНАНСОВІ РИЗИКИ ПІДПРИЄМСТВ В УМОВАХ ГЛОБАЛІЗАЦІЇ

The article considers the key factors that affect the financial risks of enterprises in the conditions of globalization. Given the rapid changes in the international business environment, the author analyzes the role of international competition, exchange rate fluctuations, economic, political, technological, environmental and socio-cultural changes. The main attention is paid to the relationship between these factors and their influence on the stability and competitiveness of enterprises. The importance of adaptation, strategic planning and innovative approach for effective risk management and use of new opportunities provided by the globalized market is emphasized. The study focuses on the importance of corporate social responsibility, ethics and environmental sensitivity in modern conditions of globalization. The author examines how businesses can use these aspects as strategic tools to enhance their reputation, strengthen relationships with consumers, and ensure long-term growth. The article also provides practical recommendations for enterprises seeking to optimize their activities and minimize potential risks in the face of globalization. In conclusion, the author emphasizes that only flexible, innovative and responsible enterprises will be able to succeed in a dynamic and unpredictable global economic landscape. In the context of the constant evolution of the global market, the article also considers the importance of continuous learning and development for enterprises. Adaptation to new technologies, understanding the cultural characteristics of different markets and the ability to quickly respond to changes become key competencies of a successful enterprise. The role of international cooperation and partnership in the conditions of globalization is determined. The formation of international alliances, joint ventures and strategic partnerships can help companies gain access to new markets, resources and technologies, as well as share risks. An important aspect is also emphasizing the role of leadership in managing the risks and challenges of globalization. Effective leadership based on strategic vision, empathy, and ethical principles can inspire teams to excel despite external challenges. In conclusion, the author urges enterprises to be ready for uncertainty, accept challenges as opportunities and strive for continuous development and improvement. Only such an approach will allow enterprises not only to survive, but also to prosper in the conditions of a globalized world.

A Critical Review of Organizing Knowledge Management for Innovation

This study critically reviews the literature that demonstrates the relevance of knowledge management process and business intelligence, as well as the challenges arising when it comes to organising for innovation in today’s business organisations. Hence, the to attain desired innovation it is important to integrate business intelligence (BI) and knowledge management (KM) for the diffusion of innovation. Hence, importance of integrating business intelligence (BI) and knowledge management (KM) for the diffusion of innovation. Organisations’ innovation dynamics and knowledge processes that lead competitive advantage of organisations are examined. Literature points that many organisations rely on individual employees’ knowledge and skills. As a result, information systems that enable knowledge management (KM) as a critical tool for gaining a competitive advantage (Campbell, 2012). The seminal argument in this study is that knowledge diffusion and knowledge externalities are the main drive of increase in economy. As a result, this is expected to be a win-win value proposition for such organisations integrating business intelligence and knowledge management. However, owing to changing business conditions and the rapidity of technological development, as well as the rising expenses involved with carrying out R&D operations in many of these organisations, maintaining competitive advantage through internal R&D alone is becoming increasingly challenging. The importance of innovation processes and network dynamics in the context of Integrated Knowledge Networks is explored, which provide feasible possibilities for utilising innovation as an interactive process as well as knowledge processes for creating business intelligence in organisations. Due to the challenges of organising for innovation, the organisations figured to rely on “Open innovation” approach to intentionally seek out unique knowledge and information outside of their organisational bounds. This study also discusses the challenges that organisations hurdle on in managing inter-organizational cooperation because of external knowledge sourcing techniques (Campbell, 2009). This is due, in part, to the fact that they span a wide range of organisations, people, and resources, as well as the interactions that exist between them. The creative processes and network dynamics are facilitated by an architecture that blends organisational and technical aspects in Integrated Knowledge Networks. Hence, the study focuses on twofold to sourcing external knowledge in particular: learning from international business environments and corporate venturing strategy for corporate incubators.

МАРКЕТИНГОВА СИСТЕМА УПРАВЛІННЯ КОНКУРЕНТОСПРОМОЖНІСТЮ БІЗНЕСУ: ДИЗАЙН ПІДПРИЄМНИЦЬКИХ СТРУКТУР, УРАХУВАННЯ МАКРОЕКОНОМІЧНИХ ТА ГЛОБАЛЬНИХ ПРОБЛЕМ СУЧАСНОСТІ

The research focuses on the important interdisciplinary issue of the agile marketing management systems implementations under the design stage of the entrepreneurship structures. Today the entrepreneurship ecosystem is under massive impact of global and macroeconomic challenges, actualized by different instances of global problems and behavioral factors. The competitiveness of the entrepreneurship structures depends upon the agile marketing systems of market data processing. The task is to show the great role of global changes and local response of the target audience behavior. During the process of the decision-making, the entrepreneurship structures are analyzing the statistical data to ensure that the decision is correct, or wrong. There are different sources of marketing data to manage competitiveness in international business environment. More available and accessible data is the statistic – obtained during the sales, processing, manufacturing, etc. also, if the market is new for the business, we can analyze macroeconomic, branch or local statistics to create the strategy or approve the decisions for the entrepreneurship design. Another possibility, which does not replace but complements the existing data sources, is the behavioral data from the services like Google analytics, Google trends, Google ads, other behavioral data sources, available online. The Agile-marketing concept let the marketing manager use combined data sources in the decision-making process. Agility in the decision-making and data processing is the key to the competitiveness building during the entrepreneur structures design process. The macroeconomic and global challenges, provoked by the global problems of today are important – among them, ecology problems, education problem, hunger, global partnership building, etc. These problems are important for the social responsible marketing systems, gaining popularity all over the world. Also, competitiveness depends upon the agility in the marketingmix of the entrepreneur structures – the speed of response and decision-making in the changing or undefined environment. During the market research, the results may show that the strategy is correct, but some elements of marketing-mix are misused – in this circumstances the marketing-mix must be changed immediately. This is the agile marketing management systems main task in the changing market environment.

ОРГАНІЗАЦІЙНО-ЕКОНОМІЧНІ ЗАСАДИ ФОРМУВАННЯ СТРАТЕГІЙ РОЗВИТКУ КАДРОВОГО ПОТЕНЦІАЛУ БІЗНЕС-СУБ’ЄКТІВ АГРАРНОГО СЕКТОРУ

The article substantiates the organizational and economic principles of the formation of strategies for the development of personnel potential of business subjects of the agrarian sector. It has been established that the justification and selection of strategies for the development of personnel potential of agricultural business entities is determined by a significant number of conditions and factors that are formed under the influence of factors of the external and internal business environment, the adopted concept of agricultural management, the current strategy for the development of agribusiness and the features of the personnel management mechanism of the enterprise. The main stages of forming a strategy for the development of personnel potential of agricultural companies are highlighted. It is emphasized that the mechanism for the implementation of the personnel development strategy should be built taking into account the organizational and methodological provisions of the current personnel management system and contain specific levers, tools and functions that will ensure the achievement of the strategic goals and objectives of HR-agro-management and management of agrarian business as a whole. Training and improvement of the professional abilities and skills of employees is highlighted as a key priority and the main tool for implementing the strategy of developing the personnel potential of agrarian formations. It is proposed to choose onboarding, advanced training courses, online training, practical seminars and trainings, internships and coaching as the main methods of implementing the strategy of personnel development. In addition, staff involvement in teamwork, recognition and motivation based on work results, prospects for employee self-realization, development of team leadership and career growth, and tools for staff feedback to management are highlighted as important tools of the personnel potential development strategy. The special role of the organizational and economic mechanism of the strategy for the development of personnel potential of business entities of the agrarian sector is emphasized, which by its functional purpose is the core of the general architecture of HR-agrimanagement, is based on flexible, adequate to modern realities, tools, methods, functions and a system providing support for the management process.

Mediation effect of organisational leadership on internal business environment and organisational commitment: insights from Oman

Mediation effect of organisational leadership on internal business environment and organisational commitment: insights from Oman

РОЗВИТОК ПІДПРИЄМНИЦТВА В УМОВАХ ГЛОБАЛІЗАЦІЇ ЕКОНОМІКИ

The article examines the interpretation of the concept of globalization of the economy. In the economy, globalization is manifested primarily in the fact that: increasing the absolute and relative level of world trade in goods and services, as well as the movement of capital and labor; there is a merger of markets, organizations and production chains; countries' economic borders are becoming increasingly transparent. It is revealed that the current state of business development in Ukraine in the context of economic globalization is characterized by tendencies to increase the importance of the external environment, which is decisive in comparison with the internal business environment. The positive dynamics of the indicator of ease of doing busi-ness in Ukraine according to the World Bank study was noted. The dynamics of the main indicators of enterprises in 2016-2020 has been analyzed, in particular, the number of operating entities, the number of employees, staff costs, sales of products (goods, services), value added by production costs, capital investment, financial result (balance) before tax. The analysis of the dynam-ics of the main indicators of enterprises in 2016-2020 showed that there is a general trend for the study period: by 2019 there was an improvement in indicators, and in 2020 – their decline. The main obstacles to the development of entrepreneurship in the globalization of the economy should be noted such as: first, limited financial resources of business entities (lack of adequate gov-ernment lending, lack of government support, etc.); secondly, excessive tax burden, in particular the lack of a legally established mechanism for exemption from taxes and mandatory payments for newly created small businesses, etc. It is established that an important prerequisite for the development of entrepreneurship in the globalization of the economy is the need for scientific and technical, innovation, investment, marketing processes, as well as the focus of entrepreneurship on international cooperation: import, export, franchising, foreign investment.

ИНТЕГРИРОВАННАЯ СИСТЕМА УПРАВЛЕНИЯ РИСКАМИ В РЕСУРСОДОБЫВАЮЩИХ ОРГАНИЗАЦИЯХ В УСЛОВИЯХ ЦИФРОВИЗАЦИИ

The subject of the study is represented by three interrelated blocks, covering both the external environment for the functioning of enterprises in the resource sector, and the potential of digital technologies in improving the internal corporate management system, as well as specific digital products that provide the necessary tools for digital transformation. The article proposes a corporate map of a resource-producing company with interrelated segments: finance, clients, internal business processes, training and development. An integrated risk management system is proposed using the example of a resource-extracting enterprise, which allows targeted and prompt response to volatile conditions of the internal and external business environment as part of digital transformation.

ОЦІНКА ЗОВНІШНЬОГО СЕРЕДОВИЩА РОЗВИТКУ МІЖНАРОДНОГО БІЗНЕСУ В УКРАЇНІ

The paper substantiates the relevance of the external environment for companies that already operate in international markets or plan to enter them as it affects both the final results of companies operating internationally and the ability to enter foreign markets for newcomers. Some factors of the external environment can intensify the foreign economic activity of companies, while others will inhibit their foreign ambitions. The object of research is the external environment of international business and its elements. The assessment of the state of the external environment is based on materials from open sources (international ratings). To assess the external environment, a modified PESTEL analysis of the political, economic, social, and legal elements of the Ukrainian business environment was performed. According to the results of the assessment, the following conclusions can be drawn: 1) Ukraine has a number of problems with political instability, low government efficiency, quality of legislation, corruption; 2) the economic environment becomes more favorable (such indicators as GDP per capita (PPP), export, and inflation have decreased). However, there are also negative trends (there was an increase in the unemployment rate and import volumes); economic growth hampered by several factors (corruption, insecurity of property rights, low efficiency of the judiciary, low investment and financial freedoms); 3) the population of Ukraine is gradually declining due to significant migration flows and the “aging of the nation”; despite the growth of the average wage in the country relative to developed neighbors, it remains low; 4) Ukraine still has problems with the rule of law (arbitrariness of power; illegal application of laws; enforcement of regulations is subject to bribery and illegal influence by private interests; public services such as permits, licenses, and administration of public health services provided through bribery, etc.), as well as a rather complicated procedure for starting and operating a business.

Scanning the International Business Environment of Norway: What MNCs Need to Know before Entering into the Market of Norway

The paper explores the socio-economic and political environment of Norway. It became an independent country in 1905 and was one of the world leaders in shipbuilding and an important global transporter of goods. Over the last hundred years, offshore oil and natural gas have become Norway’s prominent industry and it is currently one of the world’s leading exporters of petroleum. The research design employed is the qualitative research methodology. Review of existing publications such as journals, newspaper books etc. was carried out. Norway’s population has elevated levels of education and of productivity, and it is among the world’s top innovative countries. It is also very highly rated for ease of doing business. Norway has one of the strongest democracies in the world and is one of the world’s least corrupt countries. Overall, it may prove to be one of the least risky countries to deal with in terms of political soundness, as well as in the strength of its economy. Qualitative methodology requires more time to review a good number of publications. One of the limitations of this research is time. This paper provides comprehensive analysis of Norway’s socio-economic and political environments. Thus, the paper should be useful to MNCs who plan to invest in existing companies in Norway or start up a new business in Norway. It highlights the opportunities and the risks of doing business in Norway. Foreign Direct Investment (FDI) environment and regulations, financial and fiscal policies, and most other important aspects of the country that should be considered before doing business in the country are critically reviewed in this paper.

Детерминанты привлечения инвестиций в точки роста экономики Дальнего Востока России

Due to the sanctions imposed by foreign states, modern Russian economy greatly depends on the economy of the Far East characterised by the formation and stimulation of investment in the territories of advanced development (TADs). However, at the present stage, economic growth measures are not working effectively in all Far Eastern regions. The article presents the results of an analysis of factors shaping the investment attractiveness of the territories of advanced development established in the Russian Far East. The study examines regional socio-economic indicators, accounting statements of residents and non-financial information on business reputation of enterprises. Since territories of advanced development are considered economic growth points of the Russian Far East, the research aims to identify relevant patterns and rank TADs according to the importance of the factors of investment potential and risks. To this end, the methods of econometric analysis and modelling were applied. The developed methodology for assessing investment attractiveness includes indicators adapted for TADs, component factor analysis and modelling. Based on the analysis, factor models were constructed and the factors were grouped according to their impact on the investment potential and risks of the territories of advanced development of the Far Eastern Federal District. The obtained results indicate that the initial development stage of economic growth points is characterised by various financial and social problems, insufficient investment and uneven distribution of investments to ensure advanced economic growth. The established factor models explain the importance of creating a favourable investment environment, attracting investments for the construction of infrastructure, increasing the efficiency of resource potential in the Far Eastern regions. Factors of the internal business environment of residents — financial condition and the initial stage of enterprise operation from the moment of state registration — are seen as constraining. Priority ranking of factors revealed key directions for improving the mechanism for attracting and distributing investments in the regions. Additionally, it can help coordinate the work of government bodies, development institutions and entrepreneurship and direct business support measures to important areas of territorial development, reducing the impact of constraining factors and risks.

Perencanaan Strategis Sistem Informasi dan Teknologi Informasi Pada Perusahaan Retail dengan Pendekatan Jhon Ward and Joe Peppard

PT. Yella Perdana is a retail company engaged in providing computer products in the form of hardware, software, accessories, notebooks, printers in West Java. To be able to face competition in the business world and place the company in a superior position from competitors, an IS/IT strategy is needed. In its implementation, the use of information systems must be supported by a good and appropriate strategic planning of information systems, so that the goals and objectives expected by the company can achieve optimal results.The right IS/IT strategic planning at PT. Yella Perdana is expected to produce a competitive advantage in accordance with the company's resources to support the achievement of company goals.The preparation of IS/IT strategic planning in this study used the Ward and Peppard approach. Assisted by several analytical methods to analyze the company's internal and external business environment such as PEST, SWOT, Porter's Five Force, Value chain, and CSF. This IS/IT strategic planning produces a recommendation for a computer-based application portfolio that can be implemented in accordance with the company's strategy to create an advantage over competitors based on the required information system.

Perencanaan Sistem Informasi Strategis Menggunakan Model Ward and Peppard (Studi Kasus : Klinik Yulia Asniati)

Purpose: This article aims to make strategic planning of information systems and application requirements in health clinics so that they can provide optimally, integrated, and innovative contributions that can unite all supporting aspects in achieving clinical business strategies to increase their competitiveness value in health services in Pagar Alam City.
 Research Methodology: This article uses a case study at the Klinik Yulia Asniati in Pagar Alam City using the Ward and Peppard strategic planning model. Based on multi-disciplinary literature, the Ward and Peppard Model uses a strategic planning framework and process that includes the external business environment analysis stages using the PEST method, the internal business environment analysis using the value chain method, internal and external IS/IT environmental analysis.
 Results: This analysis produces an IS/IT strategic planning using McFarlan Strategic Grid Analysis, this stage produces 13 application portfolios that are arranged based on the priority of business needs and information system strategies.
 Limitations: This article uses the Ward and Peppard model with PEST analysis methods, Michael's Porter value chain, and McFarlan Strategic Grid analysis. This article only uses data and cases at the Klinik Yulia Asniati, Pagar Alam City

MANAGING ECONOMIC SECURITY OF AN INTERNATIONAL VENTURE: A PSYCHOLOGICAL PERSPECTIVE

This article seeks to provide argument that effective performance in modern realia of business and management is impossible without understanding the socio-psychological processes that accompany entrepreneurial endeavours. Further development of market competition in the national economy, its inclusion in the system of global economic relationships, aggravation of internal barriers to successful implementation of economic reforms significantly raise the issue of exploring a psychological aspect of economic security of businesses, and in international ventures, in particular. An emphasis is put that the roots of genesis and evolution of economic psychology refer to radical changes, especially changes occurred in the economic paradigm and attitudes towards ownership for the means of production in the first place, as well as the emergence of new economic actors. Apart from that, pressing globalization trends, changes in political and economic patterns, as well as rapid technological advances in society have greatly affected socio-cultural values of the population. However, even the very speed and extent of global change faced by modern society depends on psychological characteristics inherent in different social groups. Different psychological patterns and perspectives that drive the development of business environment world-wide have created a new background for shaping and launching new economic security strategies for international business entities and ventures. The findings have verified that business economic security directly relates to management's understanding of the needs and the specifics of business structure and their alignment with the personal goals of the leader. Moreover, business operation of economic entities, both in the external and internal environment, encourages them to search for the new pathways and raise awareness of the need for effective interaction between the internal corporate culture and its organizational structure, ensuring and managing economic security and values of international markets. To attain the above objectives, a thorough research on the international business environment is of critical significance. It is argued that deep insights into psychological factors driving drastic change in the politicians’ perceptions of the need to make a shift from a planned socialist paradigm to a market economy, exploring the psychology of transformation of the theoretical concepts from Marxist political economy to Western market theories will facilitate better understanding of the nature of economic security of international ventures.

How international marketers make decisions: exploring approaches to learning and using heuristics

PurposeThe paper addresses the following research question: how do decision-makers use heuristics in their international business (IB) environment? Whereas, the literature has focused on entrepreneurial companies, here contrasting approaches to learning and using heuristics in international marketing (IM) decisions are examined and discussed.Design/methodology/approachThe paper aims to address a gap in the study of micro-foundations of internationalization, exploiting research from other disciplinary fields. It combines a multidisciplinary literature review and longitudinal case studies to illustrate different approaches in learning and using heuristics by international marketers.FindingsInternational marketers can adopt “closed” heuristics that are consolidated and consistently followed, or “open” heuristics, which are constantly being adapted and learned. Established multinationals learn heuristics in international marketing decision-making, following both “closed” and “open” models.Originality/valueThis paper offers an original contribution by presenting different approaches not yet examined in the literature, focusing on how international marketers make decisions through learning and using heuristic rules. The focus is on established exporters, in contrast to the literature that has largely paid attention to the effectiveness of heuristics in new entrepreneurial firms.

INTERNATIONALIZATION OF SLOVAK FAMILY ENTERPRISES - TERRITORIAL APPROACH

Entrepreneurial activity is currently confronted with a large number of different influences, which affect the performance of business units. Businesses face new situations due to the changing market conditions they have to respond to. The small and medium-sized business sector responds dynamically as well as very sensitively to market changes, where many family businesses are also established. Competition between market players forces both the management and the family businesses to think about new opportunities in order to ensure their growth. As a result, small and medium-sized businesses gain increased importance in international markets. This study aims to identify the current trend in the international activity of family businesses in terms of their territorial activity. In addition to the theoretical background, the submitted study also introduces the results of our empirical survey. The questionnaire survey was applied as an appropriate research method. We decided to apply a dual approach: qualitative (mainly for the theoretical part) and quantitative for the empirical part of the study. The obtained results show family businesses' interest in operating in the international business environment.

The effects of IPA II pre-accession assistance instruments in Bosnia and Herzegovina, Kosovo, and Turkey

Provided that one of the goals of the European Union (EU) is the economic development and possibility of integration by implementing fundamental reforms through an adequate strategic approach, this paper aims to determine the impact of the EU policy and the Instrument for PreAccession Assistance (IPA Fund) on the international business environment with special emphasis on Bosnia and Herzegovina, Kosovo, and Turkey. It is obvious that the EU not only provides assistance to candidate countries but also contributes to the stability, security, and prosperity of beneficiary countries. However, by adopting this approach, the EU imposes certain changes in the instruments of financial support. Namely, by launching the IPA II programme it surpassed IPA I, covering five priority areas as the key segments of development. It has been shown that this support programme is of great importance for the development of the countries covered in this study. Our research also indicates that IPA funding aids in the political and economic reforms of transition countries, preparing them for the rights and duties that come with the Union membership. Secondary data available on the official website of the European Union were used in this study. The hypothesis is confirmed by quantitative data analysis showing a significant impact of the IPA II programme on defined sectors in Bosnia and Herzegovina, Kosovo, and Turkey.

SEARCH FOR NEW MARKETS OF UKRAINIAN HONEY UNDER THE CONDITIONS OF THE COVID-19 PANDEMIC

Ukraine produces more honey than the domestic market consume, which means that Ukraine has sufficient potential for honey exports. The main problems of the honey market of Ukraine are the shadowing of the market, low export price of honey and low consumer awareness of honey of Ukrainian origin. Due to the spread of the Covid-19 pandemic on the world market, the demand for honey rises. This is an opportunity for Ukraine to increase honey exports and enter new markets. It will help maintain a leading position in the world market in honey exports, increase the competitiveness of local honey producers and consumer awareness of Ukrainian honey and the build of the country’s brand as a reliable and responsible producer. The Middle East market was identified as a potential market for exit. This article examines the honey market of Ukraine, identifies the problems of the honey market and market’s prospects in the context of the spread of Сovid-19. The attractiveness of the international business environment of the Middle East is estimated in order to find potential markets for Ukrainian honey producers. An analysis of the Middle East countries for export of honey of Ukrainian producers based on a filter model. In the process of analyzing the Middle East market on the basis of a filter model, countries were selected by factors of macromarketing environment and introindustry environment. Moreover, each of the factors that helped determine potential market in the final of the research was assessed by author. The analysis of key filters revealed a high level of the Middle East integration into the system of world economic relations, the constant expansion of their cooperation with other countries, positive dynamics of economic growth indicators.