Open for business: strategies for economic diversification

2019 ◽  
Vol 8 (2) ◽  
pp. 11-23 ◽  
Author(s):  
Zizi Goschin

Abstract As economic crises periodically disrupt the economic activity, a large and continuously growing literature was dedicated to understanding the reasons behind the crises, their mechanism, effects and, most of all, the determinants of resilience capacity, and the ability to overcome hardships by adapting and changing. By preparing in advance for economic shocks through resilience building during good times, the impact of economic crises can be attenuated. Starting from these considerations, the paper focuses on regional economic specialization and its opposite – economic diversification, two business strategies already acknowledged in the literature as relevant factors for the capacity to mitigate economic crises. We tested the hypothesis of vulnerability-inducing economic specialization in the Romanian economy, using NUTS3 level data and found that more diversified regional economies were better at coping with the hardships triggered by the recent recession.


2014 ◽  
Author(s):  
Vincent P. Barabba ◽  
Ian I. Mitroff
Keyword(s):  

2012 ◽  
pp. 53-58
Author(s):  
S. Afontsev ◽  
N. Zubarevich

The questions of spatial development as a modernization driver (the Kazakhstan case) are considered in this article. The analysis of the regional economic differences makes possible to work out the development guidelines, based on the advantages combination of the basic goods specialization and the policy of transferring growth impulses from the raw materials sector to the industry and service ones. Current challenges and opportunities, which face the Kazakhstan economy, the questions of economic diversification drive up the importance of the connection between spatial development and the cluster priorities. The analytical scheme of macro-regions and diversification through the dynamic focal networks can settle up these challenges.


2017 ◽  
pp. 173-186
Author(s):  
Giuseppina Carrà ◽  
Mariagiulia Mariani ◽  
Ivana Radic ◽  
Iuri Peri
Keyword(s):  

2018 ◽  
Vol 6 (1) ◽  
pp. 23-47
Author(s):  
Nadine Waehning ◽  
Ibrahim Sirkeci ◽  
Stephan Dahl ◽  
Sinan Zeyneloglu

This case study examines and illustrates within country regional cultural differences and cross border cultural similarities across four western European countries. Drawing on the data from the World Values Survey (WVS), we refer to the Schwartz Cultural Values Inventory in the survey. The demographic variables of age, gender, education level, marital status and income vary across the regions and hence, have significant effects on the cultural value dimensions across regions. The findings help a better understanding of the homogeneity and heterogeneity of regions withinand across countries. Both researchers and managers will have to justify their sampling methods and generalisations more carefully when drawing conclusions for a whole country. This case study underlines the limited knowledge about regional within country cultural differences, while also illustrating the simplification of treating each country as culturally homogeneous. Cross-country business strategies connecting transnational regional markets based on cultural value characteristics need to take these similarities and differences into account when designating business plans.


2016 ◽  
pp. 59-70
Author(s):  
Ninh Le Khuong ◽  
Nghiem Le Tan ◽  
Tho Huynh Huu

This paper aims to detect the impact of firm managers’ risk attitude on the relationship between the degree of output market uncertainty and firm investment. The findings show that there is a negative relationship between these two aspects for risk-averse managers while there is a positive relationship for risk-loving ones, since they have different utility functions. Based on the findings, this paper proposes recommendations for firm managers to take into account when making investment decisions and long-term business strategies as well.


Author(s):  
Afonso Carlos Braga ◽  
Erika Camila Buzo Martins

This paper deals with a perceived conflicting paradox between consumerism and sustainability among top marketing executives of three purposely selected corporations, where each company represent a current organizational paradigm: the functional, the human radical and the interpretative. A case study methodology, based on in depth interviews, combined with a comprehensive bibliographic research, enabled to address how the planet limitations to provide resources can influence business strategies.  Functional paradigm companies, for example, pursue infinite growth while we live in a finite planet. The question is if the Marketing Department of those companies in the different organizational paradigms have a role in providing inputs in the strategic long term planning. Furthermore, if the marketing discipline in the academic environment influence decision makers that participate on the companies’ business planning to shape the future in a perceived environment in 2017 where consumerism is posed in the against road of the planet sustainability. The study revealed that, the Marketing Department has limited power or voice to influence business decisions. On the other hand, ‘greener’ initiatives like Social Marketing, Green Marketing and Sustainable Marketing has potential to either evolve to or incorporate a new discipline concept, so called in this paper as ‘Conscious Marketing’. This opportunity should be kicked off at the academic level in Universities and Business Schools that may reinforce the relevance of the theme and help to build in the students, a new generation of professionals, the knowledge that we live in a finite planet with limited resources and that the humanity need to revisit its consumption standards to ensure living conditions to the future generations. 


2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Bambang Widagdo ◽  
Mochamad Rofik

The economic diversification concept gives hope for a country with rich natural resources to strengthen its economic basis. Thus industrial revolution era of 4.0 provides great opportunity to fasten the process. A study by McKensey in 2011 proved that the internet in the developing country contributes around 3.4% towards its GDP which means that the internet has become a new hope for the economy in the future. Indonesia is one of the countries that is attempting to maximize the role of the Internet of Things (IoT) for its economic growth.� The attempt has made the retail and tourism industries as the two main sectors to experience the significant effect of IoT. In the process of optimizing the IoT to support the economic growth, Indonesia faces several issues especially in the term of the internet network quality and its distribution, the inclusive access of financial access and the infrastructure


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