Russian Enterprise Restructuring - the Effect of Privatisation and Market Liberalisation on the Performance of Large Enterprises

The fundamental question in the transitional economies of the former Eastern Europe and Soviet Union has been whether privatisation and market liberalisation have had an effect on the performance of former state-owned enterprises. This study examines the effect of privatisation, capital market discipline, price liberalisation and international price exposure on the restructuring of large Russian enterprises. The performance indicators are sales, profitability, labour productivity and stock market valuations. The results do not show performance differences between state-owned and privatised enterprises. On the other hand, the expansion of the de novo private sector has been strong. New enterprises have significantly higher sales growth, profitability and labour productivity. However, the results indicate a diminishing effect of ownership. The international stock market listing has a significant positive effect on profitability, while the effect of domestic stock market listing is insignificant. The international price exposure has a significant positive increasing effect on profitability and labour productivity. International enterprises have higher profitability only when operating on price liberalised markets, however. The main results of the study are strong evidence on the positive effects of international linkages on the enterprise restructuring and the higher than expected role of new enterprises in the Russian economy.

THE MARKETING OF SOCIAL ENTERPRISES: Understanding the concepts of marketing and market orientation of social enterprises within the context of Pakistani market

The concepts of social entrepreneurship and social enterprises have been extensively discussed in the previous two decades, yet the topic is still not matured yet. Most of the available literature is focused on defining these terms. Similarly, limited number of authors has discussed the marketing function of these enterprises or how marketing is interpreted in social entrepreneurship models. However, there is a plethora of literature on marketing entailing many different theories, amongst which the newest one is the “market orientation concept”. Market orientation is a mix of customer orientation, competitor orientation and inter-functional coordination suggesting marketing to be a part of the business philosophy. This study focuses on the marketing and market orientation of social enterprises while giving an overview of the literature of marketing and market orientation in social enterprises. This study aims to provide two basic questions, 1) what is the literature on marketing and market orientation of social enterprises while explaining the literature of social enterprises in Pakistan and 2) how these concepts are interpreted in social enterprises in Pakistani market. Key features of research methodology include case study approach while conducting thematic analysis using thematic networks. The results indicate that only a limited number of authors have discussed market orientation concept in social enterprises. The results from the interview data indicate the usage of marketing by a firm unconsciously without a specific marketing department. In addition to that, it has been found that in social enterprise world competition is tackled through a win-win approach with a view that many enterprises working for society improve the society which is the basic mission of any social enterprise. The data also showed that in Pakistani market, social enterprise concept is not legally used yet, which allows for more room for innovation. This study intends to give a new perspective to the theorists to use market orientation concept in social enterprises and also to managers to use marketing as their business philosophy in order to satisfy the stakeholders for better delivery of their businesses and as well for social good.

A Belief rule-based environmental responsibility assessment system for small and medium-sized enterprises

Various environmental management systems, standards and tools are being created to assist companies to become more environmental friendly. However, not all the enterprises have adopted environmental policies in the same scale and range. Additionally, there is no existing guide to help them determine their level of environmental responsibility and subsequently, provide support to enable them to move forward towards environmental responsibility excellence. This research proposes the use of a Belief Rule-Based approach to assess an enterprise’s level commitment to environmental issues. The Environmental Responsibility BRB assessment system has been developed for this research. Participating companies will have to complete a structured questionnaire. An automated analysis of their responses (using the Belief Rule-Based approach) will determine their environmental responsibility level. This is followed by a recommendation on how to progress to the next level. The recommended best practices will help promote understanding, increase awareness, and make the organization greener. BRB systems consist of two parts: Knowledge Base and Inference Engine. The knowledge base in this research is constructed after an in-depth literature review, critical analyses of existing environmental performance assessment models and primarily guided by the EU Draft Background Report on "Best Environmental Management Practice in the Telecommunications and ICT Services Sector". The reasoning algorithm of a selected Drools JBoss BRB inference engine is forward chaining, where an inference starts iteratively searching for a pattern-match of the input and if-then clause. However, the forward chaining mechanism is not equipped with uncertainty handling. Therefore, a decision is made to deploy an evidential reasoning and forward chaining with a hybrid knowledge representation inference scheme to accommodate imprecision, ambiguity and fuzzy types of uncertainties. It is believed that such a system generates well balanced, sensible and Green ICT readiness adapted results, to help enterprises focus on making improvements on more sustainable business operations.