World Market Leaders Research Articles

Agriculture export policy in India: 2010-2020-ies

The increase in exports of agricultural and food products from India to the world market gave an impetus to the author to study the measures of the country's agricultural export policy. The transition to an export-oriented development model announced at the end of the twentieth century led to the development of new approaches to foreign trade policy. Export promotion measures in the field of agriculture were prepared taking into account the peculiarities of agri-cultural production in India and were of a systematic nature. They included: political mecha-nisms, in particular the involvement of state governments; infrastructure and logistical support; economic stimulation of exports, including the creation of special export zones (agricultural clusters), attracting private investment in production and processing. Important attention was paid to the organization of the electronic National Agricultural Market (E-NAM), the digital platform of the Agri Exchange APEDA, the modernization of seaports intended for the export of agricultural goods. The result of the agrarian policy was two points – an increase in the growth rate of agricultural production and an increase in agricultural exports. The volume of exports of agricultural goods has more than tripled over the past decade and a half, and the export basket of these goods has significantly expanded. India has become the world's leading rice exporter, has become one of the world market leaders in exporting such non-traditional goods for the country as fish and aquaculture products, meat, milk and dairy products, and has also retained its traditional cotton and sugar markets.

Исследование мировой торговли хмелем и определение места России в товарообороте продукции

Abstract. The purpose of the work is the studies the world trade in hops and hop products in order to establish the structure of the main shipped products, to identify world market leaders by product type, prevailing world prices and their dynamics over the past five years. Methods. The calculations were carried out by the methods of statistical analysis according to Russian and international official Internet resources. Scientific novelty. The work made it possible to form a list of types of hops and hop products, which are the most important goods imported into Russia and constitute the main burden of foreign hop supplies in domestic imports; to determine the price difference between the importation of products from abroad to Russia and the average prices for their sale in international markets by country, which became the beginning of forecasting potential new suppliers of products. Results. The global hop growing market is mostly represented by crushed and pelleted hop cones (according to 2021 data, they accounted for 60.6 % of the total structure of world exports). It is this product that is predominant in the import of hops in Russia (73.8 % of imports according to data for 2021). The main exporters of these products to Russia were such countries as Germany (64.2 % of Russian imports), Belarus (13.5 %) and the USA (10.5 %). Imported products from the USA were the most expensive for Russia - $24,927/t, shipments from Belarus were the cheapest - $3,563/t. At the same time, shipping prices from the US to Russia are 26 % higher than the average prices for all US exports ($19,821/t). Germany exported products to Russia at a price of USD 10,749/t, which is 7.3 % lower than the average prices of all shipments in the country. Prices for hops from China (6,890 USD/t) and Poland (7,817 USD/t) for Russia are also noticeably lower compared to the cost of shipments of products by counterparties in other countries.

Исследование мировой торговли хмелем и определение места России в товарообороте продукции

Abstract. The purpose of the work is the studies the world trade in hops and hop products in order to establish the structure of the main shipped products, to identify world market leaders by product type, prevailing world prices and their dynamics over the past five years. Methods. The calculations were carried out by the methods of statistical analysis according to Russian and international official Internet resources. Scientific novelty. The work made it possible to form a list of types of hops and hop products, which are the most important goods imported into Russia and constitute the main burden of foreign hop supplies in domestic imports; to determine the price difference between the importation of products from abroad to Russia and the average prices for their sale in international markets by country, which became the beginning of forecasting potential new suppliers of products. Results. The global hop growing market is mostly represented by crushed and pelleted hop cones (according to 2021 data, they accounted for 60.6 % of the total structure of world exports). It is this product that is predominant in the import of hops in Russia (73.8 % of imports according to data for 2021). The main exporters of these products to Russia were such countries as Germany (64.2 % of Russian imports), Belarus (13.5 %) and the USA (10.5 %). Imported products from the USA were the most expensive for Russia - $24,927/t, shipments from Belarus were the cheapest - $3,563/t. At the same time, shipping prices from the US to Russia are 26 % higher than the average prices for all US exports ($19,821/t). Germany exported products to Russia at a price of USD 10,749/t, which is 7.3 % lower than the average prices of all shipments in the country. Prices for hops from China (6,890 USD/t) and Poland (7,817 USD/t) for Russia are also noticeably lower compared to the cost of shipments of products by counterparties in other countries.

Identifcation оf world Class universities: Destructive Pluralism

The article deals with the problem of identifying world-class universities (WCU) on the basis of information provided by various ranking systems. The relevance of the problem is due to the fact that in 2022 Russia was “cut off” from the world community, including the interruption of cooperation with leading international ranking universities, so the country risks losing the opportunity to self-check its successes and failures by generally recognized criteria. In this regard, the purpose of this article is hypothesis verifcation that the “friendly” ranking of ARWU base can serve as an effective substitute for the “unfriendly” QS ranking base. To test the formulated hypothesis, we used the previously developed algorithm for identifying WCU using statistical data from the fve Global University Rankings — Quacquarelli Symonds (QS), Times Higher Education (THE), Academic Ranking of World Universities (ARWU), Center for World University Rankings (CWUR) and National Taiwan University Ranking (NTU) — and two University Rankings by subject — QS and ARWU. Conducted calculations disproved the general hypothesis and revealed a fundamental inconsistency of results obtained on the basis of different rankings. In addition, by the example of the ARWU, a profound contradiction in the logic of compiling the GUR and the SRU was uncovered. That raises a broader question about adequacy of the concept of the WCU itself. To answer this question, we conducted a “humanitarian test” for the validity of modern WCU, which showed the presence of elementary illiteracy and lack of culture among graduates of advanced universities. Collected stylized examples allowed to establish that modern world market leaders’ universities do not pass the “humanitarian test”, and therefore the entire rating system cannot be considered a reliable basis for conclusions about the activities of universities. The question of replacing the term WCU with a less pretentious “product” category — practice-oriented universities — is being discussed.

Trends in the world market of smokehouses, grills, barbecue and accessories to them

Given the trends of 2020-2021, namely changes in the lifestyle of the world's population due to quarantine restrictions, it should be noted that the market of smokehouses, grills, barbecues and accessories to them was changed significantly. The study considers the segmentation of producers of smokehouses, grills and barbecues by type of product (gas, electric, coal) and consumer use (commercial and domestic). The dynamics of development of the world market of smokehouses, grills, barbecues and accessories to them in 2015-2025 is characterized (according to forecasts). The analysis of the regional structure of production and sales is carried out. The key players in the world market of smokehouses, barbecues, grills, barbecues and accessories to them were identified. Innovative solutions of manufacturers in recent years in this market were presented. It is concluded that the global and Ukrainian market of barbecues and grills is showing a positive trend in recent years, i.e. it has opportunities for growth as the number of restaurants and hotels increases and more and more people choose barbecue food. Priority steps are proposed for the entry of Ukrainian producers of smokehouses, grills, barbecues and accessories to them, which are not world market leaders in foreign markets. It is noted that it is difficult for Ukrainian producers to compete for the expansion of foreign markets. However, an effective tool in this case is the development of an effective marketing strategy, as well as the transfer of some tasks from the marketing of foreign markets to outsourcing. Accordingly, the identification of trends and prospects for the world market of smokehouses, grills, barbecues and accessories allows Ukrainian producers to develop and implement an export strategy to increase competitiveness and introduce the latest innovative technologies.

TRENDS IN THE DEVELOPMENT OF THE INTERNATIONAL MARKET FOR FUNCTIONAL PRODUCTS

The article is devoted to current trends in the international market of functional products as interest in functional nutrition is constantly growing. It is established that the current socio-economic and environmental situation, as well as the impact of the pandemic has shaped demand for products. An important motive for consuming functional products is to maintain proper nutrition, health, and well-being. An additional factor in the success of the functional products market is the familiarity and knowledge of the impact of a particular product on health. The growth of consumption of a functional product increases when the consumer associates knowledge of functional characteristics and useful properties with the consequences of their consumption. In turn, manufacturers of functional products have additional opportunities to consolidate their positions and gain competitive advantage in the markets. However, the production and sale of these products is quite complex, expensive and risky process, as it must meet special requirements. In addition to opportunities, it is necessary to take into account technological barriers, legal aspects, as well as changes in consumer tastes and take into account when developing functional products. The concepts of "functional products" and "functional nutrition" and the change in consumer attitudes to these concepts have been studied. As currently, functional foods are not uniquely recognizable, and their perception by consumers is sometimes quite confusing. An analysis of the dynamics of global sales of healthy food and beverages by product categories and income received in the market of functional foods in the world. The analysis of the current situation on the market of functional products in the USA, Japan and some European countries is given, the future potential of functional food is investigated. The world market leaders of functional products and factors that contributed to their development have been studied. Priority strategies for the development of small and medium-sized companies in the market of functional products are studied. Thus, it is established that functional products can provide opportunities for food companies, in terms of economic benefits, and consumers, as well as the opportunity to obtain useful foods.

FINANCIAL STABILITY OF ELECTRICITY COMPANIES IN THE CONTEXT OF THE MACROECONOMIC INSTABILITY AND THE COVID-19 PANDEMIC

The electricity sector is an important part of any country's economy as it holds a cross-sectoral importance and produces a socially significant product for residents and industries. Economically, the sector is less vulnerable during world crises, receiving many variations of the state support. Both world electricity consumption and electricity generation have grown steadily over 2007-2019, with China, USA, India, Russia, Japan, Canada, South Korea, Germany, Brazil and France being world market leaders. This article analyzes the current state and the main trends of the development of the electricity industry as a whole and the financial stability of its companies. The United States and Russia, with similar functioning market models, were chosen to assess. The analysis of the financial stability of PJSC Inter RAO and Exelon Corp, two electricity giants in Russia and in the United States, has shown that they demonstrate stable results: Exelon Corp is more profitable while PJSC Inter RAO is less dependent on financing from creditors. Overall, electricity companies and the industry as a whole should not suffer much from the COVID-19 pandemic: many financial support measures have been developed in both countries, helping the sector to recover to 2019 levels by 2021.Keywords: energy sector, electricity industry, economic and financial crisis, coronavirus pandemic (COVID-19), low-carbon economy, financial stability.JEL Classifications: G30, L94, Q43, Q48DOI: https://doi.org/10.32479/ijeep.11575

Transformation of Ukrainian Automotive Industry in the Context of Electromobility: Applying the Experience of Visegrad States

2009 has marked the start of a decline in Ukrainian automotive industry. Its volumes neared insignificancy in 2020. The authors consider the issue of the industry’s revival in the national economy. The basis of the concept is the creation of enterprises for the production of electric vehicles, including components, semi-finished products and accessories to them. It is suggested that investors can be attracted by developing cooperation of legislative and governmental institutions and local governments with world market leaders and taking measures to improve the national indicators in terms of the ease of doing business. It is proposed to focus the business philosophy of new enterprises on the use of vehicles rather than the field of production, as has been the case since the invention of the automobile. The choice of innovative areas should take into account the megatrends and use individualization, urbanization, artificial intelligence, mobility, digital culture, cooperation with other industries, offers of additional goods and services as its foundations.

DEVELOPMENT OF ELECTRONIC COMMERCE IN UKRAINE AND IN THE WORLD

The purpose of this work is the appropriate use of technology in the life of every business entity, organization, and financial institution. With the growth of technology, the question of their appropriate use has arisen. The state is the key factor of influence and the main body that regulates the activities of innovation and information. The development of the IT sector is the key to sustainable financial development of the country, which contributes to the inflow of finance to the country. When informatizing society, the main attention is paid to a set of measures aimed at ensuring the full use of reliable, comprehensive and timely knowledge in all human activities. Information technology in the financial sector is a kind of mechanism that provides the whole process of efficient and operational work. After all, the process of economic formation acquires a new meaning. It becomes more productive and more coordinated. In modern conditions, information technologies that provide optimization of activities, integration and communication with the external environment are becoming more widespread and used in today's dynamic market. Over the past 3 years, the IT sector has become one of the important sectors for the export of services in Ukraine. In 2019, it brought in more than 5 billion USD in exports per year. An increase in the share of exports leads to an increase in the share of GDP, so the development of the IT sector should be a priority for sustainable financial development of the country. Namely, facilitating means the introduction of small and medium-sized IT enterprises. Creating competitive software for finance and accounting, namely EPR and CRM systems, facilitates the management of human resources, assets, supplies, and production of the final product. The world market leaders are such representatives as: Oracle, Salesforce, SAP, QuickBooks, 1C etc. Important areas of using IT technologies are also facilitating the exchange of information in the process of working on projects, accelerating document flow, improving planning efficiency, implementation of general business and marketing strategy, finance, HR-strategy, simplification of brand promotion, interaction with target audience , strengthening control over financial costs, etc. In addition, these systems help to set tasks, deadlines, results. The paper covers the assessment of the general state of development of e-commerce in Ukraine. The main criteria for the development of information technology are: information services, computer and telecommunications services. The dynamics of foreign trade in these types is highlighted and the most important consumer countries that use the services of Ukrainian specialists in the labor market are studied.

STATE, TRENDS, AND STRUCTURE OF THE WORLD NANO-POWDER MARKET

The purpose of this study is to provide a comprehensive analysis of the global nanopowder market. Materials and methods. The study used such research methods as system-logical method, method of statistical generalization, comparative and factor analysis. Research results. It is known that nanopowders are obtained by chemical, physical, physico-chemical and mechanical methods. One of the major problems in the production of nanopowders is the tendency of nanoparticles to form aggregates and agglomerates that complicate the production of compact materials. To overcome the forces of agglomeration, a mechanical force or an increase in the sintering temperature must be applied. According to estimates from the consulting company Lux Research, in 2012, the nanotechnology market was $ 190.3 billion. Its annual growth is 15-17%. The world market leaders are the United States ($ 59 billion), Europe ($ 47 billion) and the Asia Pacific region ($ 9.4 billion). The US is the leader in both the commercial market and the number of publications (about 25,000 in 2015) and patents in nanotechnology (45% of patents). Following the results of 2015, more than $1.4 trillion worth of nanotechnology products were manufactured. In the structure of production of nanoproducts the chemical industry, scientific researches (intermediary products, as a rule, not serial) and electronics are leading. Global investments in nanotechnology in 2015 totaled $ 18.1 billion. This indicator increased by 18% compared to 2013. Corporate investments ($ 8.6 billion) became the main source of financing (public - only $ 8.3 billion). The leaders in terms of public investment are the US and the EU. Experts estimate that, by 2020, investment leadership may shift to Japan. Today, the leader in the nanomaterials market is the United States with a projected revenue level of 2018 of $ 1.46 billion. The main products on the world market for nanopowders are metal oxide powders. In the product group of metal oxides 4/5 the production volume accounts for the three most common types of raw materials: silica (SiO2), titanium dioxide (TiO2) and alumina (Al2O3). At the same time, silica occupies more than half of all production, alumina - 18% and titanium dioxide - 10%. The most available oxides are oxides of iron, zinc, cerium, zirconium, cuprum, magnesium, yttrium. The most complex oxides and mixtures are: tin oxide, barium titanate, cobalt carbide, silicon nitride and indium tin oxide. An analysis of the patents presented for nanopowder research has shown that the most promising area of ​​scientific development is aluminum and precious metal nanopowders. Conclusions. Analysis of the world nanopowder market makes it possible to identify the following indicators that characterize its development: the common problem in the nanomaterials market is high cost of production, low volume of production and accessibility for the end consumer; the most developed nanopowder markets: USA, Europe and Asia-Pacific; projected growth rates during 2015-2020 The three largest components of the nanomaterials market: energy, production of catalysts, structural materials - 60%, 13% and 30% respectively; production of metal oxide products prevails in the world market of nanopowders; the most common types of raw materials: silica) - more than half of all production, titanium dioxide - 10% and alumina - 18%.

ШЛЯХИ ПІДВИЩЕННЯ ЕФЕКТИВНОСТІ УПРАВЛІННЯ ПЕРСОНАЛОМ ГОТЕЛЬНО-РЕСТОРАННОГО БІЗНЕСУ

The paper discusses the ways to enhance the personnel management efficiency in hotel and restaurant business by suggesting an integrated method of traditional personnel management and new strategies and techniques affecting the employee motivation in the hotel and restaurant sector. The relevance and the need to implement the key personnel management tools in the hotel and restaurant business to increase its competitiveness in the services market have been grounded. It has been estimated that human resources management in the hotel and restaurant business employs a range of methods and managerial decisions which directly affect the overall business processes arrangements for hospitality industry personnel to attain the organizational objectives through ensuring high service quality. During the study, the following research methods have been applied: analysis and synthesis – to identify the strengths and weaknesses of personnel management methods and styles in the hotel and restaurant business; a method of statistical observations – to analyze the HoReCa hospitality industry development indices. Based on the study of best practices of HoReCa world market leaders, the most effective management styles have been identified. It is argued that successful and efficient use of primary, fundamental theoretical concepts in the personnel management context will facilitate further economic development and business stability under market uncertainty and volatility. Evidence is provided that the modern personnel management process in the hotel and restaurant business accumulates the major research findings on employee management and a set of contemporary mechanisms associated with their interaction, promoting creativity of staff, integration of efforts to achieve the goals set. Proactive employee-management interaction proves to be a positive indicator of hotel or restaurant effective performance.

Internationalization strategies of hidden champions: lessons from Germany

PurposeIn contrast to the predictions from the family business and the small- and medium-sized enterprise internationalization literatures, Hidden Champions are world-market leaders exhibiting a high share of exports. The purpose of this study is to analyze their strategy of internationalization of Hidden Champions in Germany and find that the international success and strong, sustained performance emanates from their product type, enabling to successfully pursue a niche strategy for differentiated premium products.Design/methodology/approachThe authors first conceptually explore how Hidden Champions pursue strategic internationalization, and then analyze a sample of N = 2,690 Hidden Champions to examine why Germany has been able to generate the highest per capita share of Hidden Champions in the world.FindingsThe study finds that on both a micro and macro level, the strong and sustained performance of Hidden Champions is driven by product type and quality strategies. Niche strategies for a knowledge-intensive, technological product enable the firm to lock-in customers. However, to safeguard the internalization of highly specific quasi-rents, Hidden Champions enter foreign markets through fully owned subsidiaries, retaining control and residual property rights. The second finding of this paper is that Germany has succeeded in deploying its high level of human capital into the Mittelstand through highly skilled workers.Research limitations/implicationsUnfortunately, no micro-level panel data are available. Still macro-level data beginning in the nineteenth century provide strong empirical support for the hypothesized causality.Originality/valueThis is the first paper to link the strong and sustained export performance of Germany to the Hidden Champions by examining the origins of the German Mittelstand model, dating back to the social, political and economic developments of nineteenth century.

A flow-to-equity approach to coordinate supply chain network planning and financial planning with annual cash outflows to an institutional investor

AbstractA common side effect of cross-linked global economies is that well-positioned middle class companies are acquired by institutional investors, which formulate unreasonable return expectations in many cases. As a consequence, the resulting payouts are often not in line with business operations so that even world market leaders get into trouble or close down. In this context, we consider the case of a sanitary company, which had to manage the described situation after a business takeover. In order to coordinate the annual cash outflows to the investor with intra-organizational supply chain planning and financial planning, we propose a mixed-integer non-linear programming model that is based on the flow-to-equity discounted cash flow method. The objective is to maximize the present value of equity while determining annual cash outflows to the institutional investor during his engagement. As the decisions of the investor during his engagement influence possible operations of the company after his engagement, the residual value of equity (that influences the selling price) is taken into account. The modeling is based on cash flow series, which result from supply chain operations and restructuring on the one hand, and from financial transactions on the other. Financing is characterized by interest rates depending on the time period the credit starts, the credit period, the debt limit of the company and the current total debt. As the latter is a result of the optimization, non-linearity arises. Nevertheless, both the expected demand scenario and further randomly generated demand scenarios of the sanitary company could be solved to the optimum with the commercial optimization package GAMS 23.8/SCIP 2.1.1 within acceptable computation times, if capacity profiles are assigned to the locations to depict feasible and/or preferred capacity developments.

Best of German Mittelstand - The World Market Leaders

German Mittelstand Champions have a distinct management model that dovetails strategy, leadership and governance principles, with core processes in a unique blend, creating a finely tuned whole. We argue: the worldwide success of German Mittelstand companies is not only a result of outstanding products and services; but it also it rests on a very specific management model. In many aspects, this model is a counterexample to the US-dominated mainstream model of management taught in business schools worldwide. It differs in two core elements: a focus on long-term customer relationships rather than competing transactionally at arms-length on anonymous markets, and a focus on long-term survival driven by family ownership, instead of short-term financial focus .

La industria de la pizarra española en perspectiva histórica

The article analyses the birth and growth of the slate industry in Spain from a long-term perspective. It takes into account the limitations of the public statistics, the time series of production and employment that have been gathered since the early 20th century to the present day, and the stages of the long-term evolution of the slate sector, and inserting it within the international framework. From modest beginnings in the 16th century under royal patronage, the industry started its development at the turn of the 19th and 20th centuries. During the first third of the 20th century, the upward supply shows figures lower than the world market leaders. The gap was reduced in the 1960s when the slate industry was modernized, thanks to the French demand. Spain then became the international leader in the production and export of slate.

Successful In-between? Analyzing the Internationalization of Medium-sized World Market Leaders

Successful internationalization has become an inevitable challenge for most small and medium-sized companies. In this explorative study, based on interviews with 84 owners and CEOs of German small and medium-sized world market leaders (WMLs), specific success factors, typical internationalization patterns, existing challenges and potential risks are identified. Four types of those WMLs could be classified leading to the taxonomy of Visionaries, Conquerors, Companions and Globalizers. Their internationalization scheme could be assigned to three internationalization stages. When matched with the learning theory of internationalization (Johanson and Vahlne, 1977, 1990) this study contributes to the ongoing discussion regarding the applicability of traditional IB-theories.

Globalisation strategy for small and medium sized enterprises

In 2008, Germany was still the biggest single exporting nation in the world. But entrepreneurial globalisation and a globalisation strategy of a small and medium sized enterprise (SME) is more than just export. Some SMEs reach their limits in this process of an entrepreneurial globalisation which needs activities steps beyond the previous internationalisation of businesses. The aim of the paper is to show on different examples how it is possible to develop from a former regional market leader to an actual world market leader. 30 world market leaders from different branches of the southern part of Germany have been chosen for this best practice oriented survey. The methodology and scientific content evolved are based on structured interviews as well as on the descriptive method. The main aspect of the paper is – on the basis of a theoretical approach adapted from practical examples – how SMEs can tap their full entrepreneurial globalisation potential.

The Silicon Valley-Hsinchu Connection: Technical Communities and Industrial Upgrading

Silicon Valley in California and the Hsinchu-Taipei region of Taiwan are among the most frequently cited ‘miracles’ of industrialization in the information technology era. Since the region’s transformation from an agricultural valley into the birthplace of the semiconductor industry in the 1950s, Silicon Valley firms have pioneered a wide range of technology-related industries. The regional economy has adapted flexibly to fast changing markets, and local producers continue to define the state-of-the-art in successive generations of technology—from semiconductor equipment, personal and handheld computers, and networking hardware and software, to biotechnology, multimedia software, and internet-related infrastructure and services. Taiwan’s technology achievements are more recent, but no less impressive. The Taipei area, which served as a source of low cost labor for consumer electronics production as late as the 1970s, is known today for the speed and flexibility of its personal computer manufacturers. These firms dominate the markets for a large and growing range of computer-rela ted products, from motherboards and monitors to optical scanners and power supplies. Meanwhile, the Hsinchu Science-based Industrial Park, established in 1980, is now a state-of-the art manufacturer of semiconductor s, on par with the world market leaders in the US and Japan. Taiwan’s total information technology output is now greater than that of larger nations like Korea; in fact it is larger than the output of Germany and France combined (Anderson 1998.)

Patent filing by multinationals in a newly industrialising country: a study of the Indian pesticides sector

This paper examines the determinants of inter-firm differences in MNCs (Multinational Corporations) patent filing patterns in India, in pesticides. The variables, R&D intensity of the foreign firms, international orientation of the foreign firms, areawise patent filing, role of Indian subsidiary and the effect of firms being world market leaders, are used to explain the inter-firm differences in patent filing pattern. The study finds that the firms with international orientation, but not necessarily Indian orientation, file more patents in India. More R&D-intensive firms are not filing patents in India and also more patents are being filed in herbicides, whose production and consumption is less compared to insecticides in India. Subsidiaries operating in India have no influence on the patent filing pattern.

Filling and packaging lines improves production of marine paints by 100% at International Paint

An investment of approx £300,000 in new filling and robotic palletising lines has now come on stream for one of the world's market leaders in marine paints, International Paint plc of Felling, Gateshead, part of the Courtaulds Coatings Group.