Marketing of fire suppression systems: customer value and institutional aspects

The paper studied marketing of automatic fire suppression systems from the perspectives of customer value and institutions. The object of the study was research the special features of the sales and marketing of fire suppression systems, and find some practical applications for sales, and for lobbying of a new fire suppression technology. The theoretical background of the study was in the customer value literature and the theoretical concept of institutional entrepreneurship. The research was conducted as an electronic survey for three different groups of respondents; end customers, solution integrators, and re-sellers. From the answers was gathered generalisations about the customer value assessment and communication of the value related to the sales and marketing processes of the fire suppression systems. In addition, there was observed manners to receive information about the systems, and effects caused by institutions to the decision making of the different parties involved. The findings of the study support companies that are launching a new safety technology to the market focus their marketing, and help to understand institutional forces that are affecting to a safety related product.

The impact of industrial context and institutional factors on innovation and internationalization of Russian companies

Innovation and internationalization nowadays play significant role in formation of the competitive advantage for the companies and it is important to explore these processes deeply and use their potential. Such parameters, as industrial context and institutional factors, are essential parts of the business life and their influence may be crucial for the company’s performance. The Master’s Thesis explores impact of industrial context and institutional factors on innovation and internationalization of Russian companies. This research is quantitative and based on the analysis of the relevant scientific literature and results of the survey, conducted among Russian manufacturing companies. Findings show positive influence of industrial context factor “international threat” and institutional environment factor “lack of resources and the market imperfections” on internationalization of innovative Russian companies.

Effect of the implementation of the Hazard Analysis Critical Control Point (HACCP) prerequisite program in an institutional foodservice unit in Southern Brazil

The aims of this study were to investigate the hygienic practices in the food production of an institutional foodservice unit in Southern Brazil and to evaluate the effect of implementing good food handling practices and standard operational procedures using microbiological hygiene indicators. An initial survey of the general operating conditions classified the unit as regular in terms of compliance with State safety guidelines for food service establishments. An action plan that incorporated the correction of noncompliance issues and the training of food handlers in good food handling practices and standard operational procedures were then implemented. The results of the microbiological analysis of utensils, preparation surfaces, food handlers' hands, water, and ambient air were recorded before and after the implementation of the action plan. The results showed that the implementation of this type of practice leads to the production of safer foods.

A performance analysis of conventional and fundamental exchange traded funds: ETFs and their risk-return characteristics in relation to building institutional investor’s passive portfolio

An exchange traded fund (ETF) is a financial instrument that tracks some predetermined index. Since their initial establishment in 1993, ETFs have grown in importance in the field of passive investing. The main reason for the growth of the ETF industry is that ETFs combine benefits of stock investing and mutual fund investing. Although ETFs resemble mutual funds in many ways, also many differences occur. In addition, ETFs not only differ from mutual funds but also differ among each other. ETFs can be divided into two categories, i.e. market capitalisation ETFs and fundamental (or strategic) ETFs, and further into subcategories depending on their fundament basis. ETFs are a useful tool for diversification especially for a long-term investor. Although the economic importance of ETFs has risen drastically during the past 25 years, the differences and risk-return characteristics of fundamental ETFs have yet been rather unstudied area. In effect, no previous research on market capitalisation and fundamental ETFs was found during the research process. For its part, this thesis seeks to fill this research gap. The studied data consist of 50 market capitalisation ETFs and 50 fundamental ETFs. The fundaments, on which the indices that the fundamental ETFs track, were not limited nor segregated into subsections. The two types of ETFs were studied at an aggregate level as two different research groups. The dataset ranges from June 2006 to December 2014 with 103 monthly observations. The data was gathered using Bloomberg Terminal. The analysis was conducted as an econometric performance analysis. In addition to other econometric measures, the methods that were used in the performance analysis included modified Value-at-Risk, modified Sharpe ratio and Treynor ratio. The results supported the hypothesis that passive market capitalisation ETFs outperform active fundamental ETFs in terms of risk-adjusted returns, though the difference is rather small. Nevertheless, when taking into account the higher overall trading costs of the fundamental ETFs, the underperformance gap widens. According to the research results, market capitalisation ETFs are a recommendable diversification instrument for a long-term investor. In addition to better risk-adjusted returns, passive ETFs are more transparent and the bases of their underlying indices are simpler than those of fundamental ETFs. ETFs are still a young financial innovation and hence data is scarcely available. On future research, it would be valuable to research the differences in risk-adjusted returns also between the subsections of fundamental ETFs.

Weber e Schumpeter: a ação econômica do empreendedor

Weber and Schumpeter: the Economic action of the entrepreneur. Is there any specificity to be raised in the relations established between entrepreneurs and institutions? Recently, the term entrepreneurship is being widely employed. Enterprising is not anymore a restricted activity to the private sector, but also the Third Sector and the Public Administration. It does not only circumscribe the space of innovation, but also of the adapting changes. In this sense, such elastic concept runs the risk to lose consistency. It seems to be appropriate, therefore, to rescue the meaning that many authors, considered classic in Social Sciences, had attributed to the subject, to show that, although deep socioeconomic transformations occurred since Schumpeter wrote the Theory of the Economic Development, is still necessary to emphasize a basic dimension of the enterprising action: resistance and institutional conflict.

Successful new venturing process implemented by the founding entrepreneur: A case of Finnish sawmill industry

The fundamental purpose of this research is to emphasise a founding entrepreneur’s own role in the construction of a successful business story, with the focus being on the analysis of the entrepreneur’s activities. The theoretical section sheds light on the heterogeneous nature of existing performance research and, thereby, opens the way for the behavioural approach research of entrepreneurs in the field of new venture performance research. This research can be seen to be in line with the latest trends in entrepreneurship research, which question the applicability of different organisational theories in entrepreneurship research. For this reason, the founding entrepreneur has been chosen, instead of the company, to be the unit of analysis in this research in order to lighten the link in question while developing and refining new knowledge in the field of entrepreneurship. The empirical section of this research focuses on the entrepreneur’s own actions or behaviours that can be seen to be associated with the company’s success. Although some of these actions may resemble the strategic actions of a company as defined in strategic management literature, these actions taken by the entrepreneur themselves must be distinguished from the different organisational actions. Usually, an entrepreneur makes decisions rather independently, mainly on basis of their own intuition and prevailing market conditions, whereas organisational actions are very systematic, and each decision involves many different people. For this reason, an entrepreneur’s actions must be distinguished from organisational actions. In additional to different action paths, the empirical data collected for this research also offers almost unambiguous proof that the actions taken by an entrepreneur at the different stages of a company’s development do play a crucial role in the success of the companies studied in this research. In this way, it is possible to identify a significant link between the behavioural approach research of entrepreneurs and new venture performance research. Due to a lack of behavioural research into founding entrepreneurs, this research has utilised a qualitative (hermeneutic) research approach. The researcher strove to establish a particularly close connection with the entrepreneurs that were studied here and, thus, understand the actions taken at the different stages of their companies’ development as well as the motives and fundamental purposes of these actions. It would not have been possible to manage such profound data that focuses on causalities by using quantitative methods. In addition to interviews, this research used corporate histories of the companies for collecting some of the research data. These corporate histories can be considered excellent tools for the researcher to obtain a preliminary understanding and can, thereby, be seen to have laid the ground for more in-depth and diverse analyses.

The Banco Central do Brasil's institutional framework after ten years

The Banco Central do Brazil (BACEN) adopted inflation targeting in 1999. This monetary policy regime originates in institutional design which remains crucial today for the expectations management, and is in permanent evolution. After 10 years, the BACEN institutional framework is assessed, asking if there is still room for improvement. Various institutional procedures are analysed, and lessons are drawn from the international experience of a panel of sixteen countries. Some proposals for the BACEN institutional framework are made.

Institutional environment in North Korea: market structure and overcoming institutional voids

Tutkimus sai innoituksensa, kun tutkija huomasi tarpeen liiketaloudelliselle, ajantasaiselle ja realistiselle tutkimukselle Pohjois-Korean markkinoista, joka kuvailisi markkinoiden olemassaolevia ja puuttuvia rakenteita sekä tutkisi mahdollisuuksia ylittää puuttuvat rakenteet. Institutionaalinen teoria valittiin sopivaksi viitekehykseksi kuvailla ja tutkia markkinarakennetta. Tutkimuskysymys muotoiltiin seuraavasti: “Miten ulkomaiset yritykset voivat reagoida puuttuviin markkinarakenteisiin Pohjois-Koreassa?”. Tutkimuskysymys jaettiin kolmeen osakysymykseen: (1) Millainen on Pohjois-Korean markkinoiden institutionaalinen ympäristö? (2) Mitkä ovat merkittävimmät puuttuvat markkinarakenteet Pohjois-Koreassa? (3) Mitä mahdollisuuksia ulkomaisilla yrityksillä voisi olla reagoida puuttuviin markkinarakenteisiin? Tutkimus toteutettiin kvalitatiivisena, koska tutkimuskysymys on deskriptiivinen. Aineisto kerättiin asiantuntijahaastattelun ja kvalitatiivisen sisällönanalyysin keinoin. Primääriaineiston muodostavat 2 asiantuntijahaastattelua ja sekundääriaineiston muodostavat 95 artikkelia, jotka kerättiin 40 lähteestä. Aineisto analysoitiin kvalitatiivisen sisällönanalyysin keinoin. Aineisto koodattiin, luokiteltiin ja esitettiin kokonaisuuksina luokittelurungon avulla, joka laadittiin tutkimusta varten muodostetun teoreettisen viitekehyksen mukaan. Tulokset ja johtopäätökset voidaan tiivistää seuraavasti. (1) Pohjois-Korean markkinan instituutioihin vaikuttaa kaksoisrakenne, jossa muodollinen, sosialistinen rakenne ja epämuodollinen, markkinalähtöinen rakenne toimivat päällekkäin. (2) Puuttuvia rakenteita on sekä markkinan kontekstissa että markkinatasolla. Puutteet ovat osittain seurausta vanhojen rakenteiden korvaantumisesta uusilla, jotka eivät ole institutionalisoituneet. (3) Yritykset voivat käyttää samoja mahdollisuuuksia reagoida puuttuviin markkinarakenteisiin Pohjois-Koreassa, joita kehittyvien markkinoiden yhteydessä on esitetty. Sen tulkittiin vähentävän käsitystä, jonka mukaan Pohjois-Korean markkina on liian erikoinen yritystoiminnalle. (4) Kasvava keskiluokka sekä yrittäjyyden ja naisten yhä merkittävämpi rooli liike-elämässä aiheuttavat alhaalta ylöspäin suuntautuvaa kehitystä markkinoilla. Nämä ovat merkkejä viimeaikaisesta kehityksestä, jotka eivät ole saaneet laajaa huomiota länsimaisessa mediassa. Se korostaa tarvetta liiketaloudelliselle, ajantasaiselle jatkotutkimukselle Pohjois-Korean markkinoista.

International Entrepreneurship in Bottom of the Pyramid Markets – Overcoming institutional constraints

Bottom of the pyramid (BoP) markets are an underserved market of approximately four billion people living on under $5 a day in four regional areas: Africa, Asia, Eastern Europe and Latin America. According to estimations, the BoP market forms a $5 trillion global consumer market. Despite the potential of BoP markets, companies have traditionally focused on serving the markets of developed countries and ignored the large customer group at the bottom of the pyramid. The BoP approach as first developed by Prahalad and Hart in 2002 has focused on multinational corporations (MNCs), which were thought of as the ones who should take responsibility in serving the customers at the bottom of the pyramid. This study challenges this proposition and gives evidence that also smaller international new ventures – entrepreneurial firms that are international from their birth, can be successful in BoP markets. BoP markets are characterized by a number of deficiencies in the institutional environment such as strong reliance on informal sector, lack of infrastructure and lack of skilled labor. The purpose of this study is to increase the understanding of international entrepreneurship in BoP markets by analyzing how international new ventures overcome institutional constraints in BoP markets and how institutional uncertainty can be exploited by solving institutional problems. The main objective is divided into four sub objectives. • To describe the opportunities and challenges BoP markets present • To analyze the internationalization of INVs to BoP markets • To examine what kinds of strategies international entrepreneurs use to overcome institutional constraints • To explore the opportunities institutional uncertainty offers for INVs Qualitative approach was used to conduct this study and multiple-case study was chosen as a research strategy in order to allow cross-case analysis. The empirical data was collected through four interviews with the companies Fuzu, Mifuko, Palmroth Consulting and Sibesonke. The results indicated that understanding of the wider institutional environment improves the survival prospects of INVs in BoP markets and that it is indeed possible to exploit institutional uncertainty by solving institutional problems. The main findings were that first-hand experience of the markets and grassroots levels of information are the best assets in internationalization to BoP markets. This study highlights that international entrepreneurs with limited resources can improve the lives of people at the BoP with their business operations and act as small-scale institutional entrepreneurs contributing to the development of the institutional environment of BoP markets.

Institutional environment in North Korea: market structure and overcoming institutional voids

The research was sparked by an exchange in South Korea, as the author identified a gap in research that provides economic, up to date and realistic information about the North Korean market in English language. A need for a research was identified that would describe the market’s existing and missing market structures and explore possibilities to overcome the missing market structures. Institutional theory was chosen as a suitable framework to describe and explore the market. The research question was formulated as follows: “How can foreign companies overcome institutional voids in the North Korean market?”. To answer the research question, it was divided into three sub-questions as follows: (1) What is the institutional environment in North Korea like? (2) What are the major institutional voids in the North Korean market? (3) What possibilities do foreign companies have to overcome institutional voids? The research is qualitative by nature due to the descriptive and exploratory nature of the research question. Data collection consisted of expert interview and content analysis, resulting in primary data of two interviews and secondary data of 95 articles from 40 different sources. The data was analyzed with the systematical technique of content analysis. The data was coded, classified and presented as concepts with the help of a classification system that was build following the theoretical framework adapted for this study. The findings can be summarized as follows. (1) The market institutions are characterized by an overlapping dual system of formal, socialist structures and informal, market-oriented structures. (2) Institutional voids prevail on both the market’s contextual and on the market level. They are partly result of old institutions being replaced by new institutions that lack institutionalization. (3) Identified possibilities to overcome institutional voids correspond with possibilities drawn from previous research. This decreases the image of North Korea as an impossibly unique market to operate in. (4) Emerging middle class, rapidly growing entrepreneurial activities and women’s increasing role in business drive a down-to-up change in the market. This signals the recent development of the market, yet has been overlooked in the Western media. Thus there is a need for further economic, up to date research concerning North Korea.

The role of diaspora networks in opportunity exploitation by ethnic entrepreneurs in Finland

The thesis explores the role of diaspora network in opportunity exploitation by ethnic entrepreneurs in Finland. The purpose of this study is to how ethnic entrepreneurs in Finland can exploit diaspora networks and how significant support of these networks in comparison with governmental and other official institutional support. Increased mobility of the global population and number of immigrants all around the world contribute into interest of academics to this topic. At the same time, in comparison with other European countries for Finland this phenomenon is new. However, increasing number of immigrants add to academic interest to this topic. The theoretical background of this thesis consists of the collection of studies done on diaspora networks and ethnic entrepreneurs as internationally as in Finland. The concept of cooperation between diaspora and ethnic entrepreneurs describes how diaspora can support ethnic entrepreneur and emphasize importance of diaspora ties for business. At the end of the theoretical section theoretical a special grid was proposed as summary of the academic literature review. The empirical research for this study is based on the interviews with five ethnic entrepreneurs in Finland. Empirical data was analyzed and compared with the similar studies done internationally. During the interviews analyses were stressed aspects of the significance of governmental and other official institutional support. During the interviews analyses were stressed aspects of the significance of the governmental and other official institutional support. According to the main findings diaspora can play positive and in some cases crucial role in the business of ethnic entrepreneurs in Finland. Moreover, diaspora can be a facilitator of internationalization of ethnic entrepreneurs. At the same time, there are several factors which might increase or decrease role of diaspora. The ways of the utilization of diaspora network were combined in the empirical grid. The study enhance understanding of the challenges of ethnic entrepreneurs and provides certain recommendations for the policy makers, ethnic entrepreneurs and managers of official institutions involved in cooperation with ethnic entrepreneurs

[Travaux au niveau du 79 boulevard de Magenta, pilonneuse The New Way Motor Co de Lansing, Michigan, U.S.A., entrepreneur M. Bancel, 83 rue Petit] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 58604