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To successfully expand their business activities in overseas markets, small- and medium-sized enterprises (SMEs) must first acquire a thorough knowledge and understanding of prevailing environmental and market conditions. This study examines the crucial role that a learning orientation can play in the generation of relevant foreign market knowledge. It also investigates the impact of foreign market knowledge on strengthening internationalizing SMEs’ operational adjustment agility and market capitalizing agility, which in turn enhance firms’ international venture performance. Our empirical effort is based on data collected from 209 Nigerian industrial SMEs which internationalize their efforts. To test our research model and hypotheses we collected data by means of a survey conducted among Nigerian small- and medium-sized firms (i.e., employing 250 or less people) which internationalize their efforts and launch their products in B2B markets. The positive role of learning orientation, foreign market knowledge and organizational agility is confirmed by our results on driving international venture performance.

This paper presents the results of qualitative research based on semi-structured interviews with CEO and Marketing managers among Swiss luxury watchmaking companies. We present the highlights on innovative business models and how it could create competitive advantage creation in the highly competitive Swiss luxury watchmaking industry.

Introduction Retail competition in Japan has become more intense because of multiple reasons. The income and population composition are changing, and many international retailers have entered the Japanese market. It is important for Japanese retailers to differentiate from competitors and maintain a competitive advantage in the long run. To do so, Japanese retailers focus on increasing customer value by controlling their value chains. Therefore, market orientation and supply chain orientation have become very important for Japanese retailers who try to expand their market shares in the Japanese retail market. This study develops and empirically tests a model of the impact of market orientation and supply chain orientation on business performance in Japanese retailing. Theoretical Development Previous literature provides evidence on the positive impact of market orientation on business performance (e.g. Cano et al., 2004; Murray et al., 2011; Morgan, 2012; Ngo & O’Cass, 2012). There are also a few studies in the context of retailing (e.g. Griffith et al., 2006; Kajalo & Lindblom, 2015; Moore & Fairhurst, 2003; Yu et al., 2014). However, only a few studies are focusing on the relationship between supply chain orientation and marketing orientation and the impact of their interplay on business performance (e.g. Martin & Grbac, 2003; Min et al., 2007). Market orientation can be seen as the foundation for customer relationship management. The effectiveness of customer relationship management depends heavily on market intelligence. To attract new customers and retain old customers firms have to satisfy not only existing needs but also latent needs. In retailing, market orientation is very important because the organization of retailing is based on the multi-unit organization where sales staff in stores is in close contact with customers and can get direct information from the customers. Supply chain orientation (SCO) is separated into two concepts: strategic supply chain orientation and structural supply chain orientation (Patel et al., 2013). Strategic SCO is defined as the supply chain directed motivation and objectives arising from executive strategic plans and decisions. Structural SCO is defined as the behaviors and actions related to supply chain management in the implementation of its strategic plan. Therefore, strategic SCO is the antecedent of structural SCO. In retailing, many retail buyers search and negotiate with the suppliers who have the ownership of strong brands and distribution networks. In the buying process, retail buyers can get market information from suppliers. Thus, a retailer can collect market information from internal and external sources. This information is useful for the retailer to not only make marketing plan but also to revise marketing plan during its implementation process. To sum up, customer relationship management and supply chain orientation have a positive impact on marketing capabilities. Similarly, marketing capabilities have a positive impact on business performance. The theoretical framework of the study is presented in Figure 1. Data and Measurement To test the framework, we conducted a mail survey (N=243) among Japanese retailers in 2017. The scales were adapted or developed from existing literature. Market orientation (MO) was based on questions adapted from Narver and Slater (1990). Strategic SCO (STRACO) and structural SCO (STRUSCO) scales were based on Patel et al. (2013). Customer relationship management (CRM) was based on Vorhies et al. (2011), marketing capabilities (MKGCAP) was based on Morgan et al. (2003) and Vorhies and Morgan (2005). Business performance was based on Hooley et al. (2005). The measurement model was assessed using Mplus 8. The measurement model specification allows each construct to covariate with all others. The fit indexes of the measurement model were satisfactory (CFI: 0.95; TLI: 0.94; RMSEA: 0.05; SRMR: 0.05). Next, we tested the reliability and validity of measurements. The convergent and discriminate validity of the latent variables were tested by confirmatory factor analysis where all constructs are correlated (Table 1). Also, we tested the common methods variance using two methods: Harman’s single factor test and the common latent method. The results of these methods suggest that common method variance is not a problem in this study. Results and Conclusions We tested the hypotheses by applying structural equation modeling (SEM) using Mplus 8. The results are presented in Figure 1. The proposed model provides a good fit to the data (χ2= 517.1, d.f.=290, p < 0.000; CFI = 0.94; TLI = 0.94, RMSEA = 0.06, SRMR = 0.08). In addition, we assessed the mediating role of marketing capabilities by employing a bootstrapping routine (Table 2). Figure 1 presents the results of the SEM. Most hypotheses were supported, and overall the study provides evidence of the importance of market orientation and strategic SCO on business performance. The most interesting findings are related to the role of marketing capabilities and structural SCO. First, the results show that marketing capabilities serve as a mediator between business performance and customer relationship management (H7). The main aim of CRM is to establish and keep the relationship with target customers. CRM contributes to increasing the marketing capabilities by helping retailer achieve marketing objectives more effectively and efficiently (Chang et al., 2010). Second, marketing capabilities is not a mediator between business performance and structural SCO (H8). The structural SCO has a negative direct impact on business performance, while structural SCO has a positive impact on marketing capabilities which in turn has a positive impact on business performance. Japanese retailer-supplier relationships are different from that in the western economy (Chung et al., 2006). The channel members in Japan have a long-term orientation when they establish a relationship with each other. The findings of our study reflect this cultural aspect of Japanese retailing environment. Japanese retailers purchase products and services from suppliers on long-term. Economic performance is not a single decision making criteria. Instead, relationships with suppliers who do not contribute fully to economic performance continue. The result of H8 refers to this character of Japanese retailing environment.

Over the last decades, the global luxury business has become dominated by large conglomerates. Backed by the financial power of their parent companies, formerly small and often family-owned brands have expanded their presence around the globe. They have established themselves in some of the most expensive shopping districts, acquired illustrious testimonials, and sponsored prestigious events. Almost overwhelmed by the omnipresence of luxury, consumers are said to have begun looking for the “genuine” and “unique,” favoring smaller, less homogenized and more intimate luxury brands not necessarily known to the larger public. This study thus looks beyond the well-known players in the luxury market and explores the differentiating strategies used by independent niche luxury companies. It aims to identify factors contributing to their success in a global market otherwise dominated by ever-growing luxury giants.

본 연구는 급변하는 경영환경 속에서 BtoB거래에서의 협업이 중요함에도 불구하고 협업을 구성하는 요소가 불명확하기에 협업Quality라고 명명한 측정도구 개발이 목적이며, 이를 바탕으로 BtoB기업의 조 직성과와의 구조적 관계를 연구한 논문이다. 협업Quality의 측정개발은 Study1, Study2로 구성이 되어있으며, Study1에서는 FGI를 통해 협업 Quality의 측정항목을 개발하고, 전문가 집단의 인터뷰를 통해 협업의 구성요인을 알아냈다. Study2에서 는 측정항목들의 신뢰성과 타당성을 검증하여 4개의 요인으로 도출하였고, 이 요인들을 신뢰, 공유된 목표, 정보공유성, 조직유연성으로 명명하였다. 마지막으로 도출된 요인들과 조직성과와의 관계를 규명하였다. 결과적으로 본 연구의 협업Quality는 BtoB거래에서 공급업체와 구매업체간의 협업을 의미하며, 개발된 측정도구는 향후 협업과 파트너십 연구에 기초자료가 될 것으로 기대된다.

국내 물산업의 경우 하수분야에서 점진적으로 상수분야로 전환되고 있으며, 그 일환으로 유수율제고를 통한 맑은물 공급을 목적으로 노후정수장 개량과 상수관망 정비사업에 필요한 「지방상수도의 노후도 실태평가 및 정비사업 타당성조사」를 수행중에 있다. 그중 환경부는 2008년부터 정수처리시설의 투자확대를 목적으로 20년 이상 노후화된 정수장의 Retrofitting이나, 기존 정수장 고도처리도입시 막여과공정 우선적으로 도입하는 계획을 수립하고 예산지원 등을 통하여 보급확대에 노력하고 있으나 시장의 활성화가 이루어지지 않고 있다. 따라서 국내 막여과 수처리사업의 정책방향과 사업추진현황 분석을 통하여 시장활성화를 위한 방안을 제시하고자 한다.

The catching-up process of the emerging economies of Central and Eastern Europe (CEE) towards the average income level in Western Europe has driven the marketing strategies of Western multinational companies (MNC) so far. Particularly, the boom years from 2002 to 2008 with an average GDP growth for the region of more than 6% (Becker et al., 2010) fuelled the notion that soon a large European market with similar demand and market structures will exist that will allow Western MNCs to sell their international brands in a highly standardized way in the whole region. The Great Recession of 2008-09 stopped this convergence process and highlighted the still existing differences in consumer behavior (Schuh, 2012). The recessionary developments in the aftermath of the crisis have shown that this is more of a structural problem than a temporary one (Labaye et al., 2013). The Western firms now have to acknowledge that many product markets are not “structural twins” of Western markets with a strong upper- and mid-price segment but that CEE markets are rather shaped like bottom heavy pyramids. By just transferring brand strategies developed for high-income economies to emerging markets they ignore large segments of the mass market. To tap these market segments MNCs have to think how they can make their products affordable to these lower-income consumers, i.e. bring-ing the purchase of a product within the financial means of a consumer or household. The neglect of low-income segments may be either a deliberate decision based on the well-proven inherent business logic of Western branded good marketers (“stick to our success-ful way of doing business”) or a blind spot in the strategic approach to emerging markets (Sheth, 2011). The purpose of this paper is twofold: first, a case is made for the relevance of affordability concepts to CEE markets; second, three case studies of affordability initiatives of leading fast-moving consumer goods companies are analyzed in order to get a better understanding of how these firms approach the affordability issue and what are the success factors of such strategies in CEE. Most of the existing emerging market literature is dealing with very low income consum-ers in Southeast Asia, Latin America and Africa earning less than US- 2,500 p.a. (Prahalad, 2005; London & Hart, 2011; Khanna & Palepu, 2010). While the coverage of the “bottom of the pyramid” is regarded as an extreme stretch for most Western firms, more attention is paid to the growing middle class in the emerging markets (Court & Narashimhan, 2010). The steady growth of the middle-class in the emerging economies is promising rising sales for the future and at the same time supporting the notion that West-ern MNCs can continue with their business model and just have to “wait for the market”. The rapidly growing middle class consumers in emerging markets include almost 2 billion people with a total spending of US- 6.9 trillion annually which will expand to US-20 trillion within the next decade (Court & Narasimhan, 2010). Surprisingly, lead-ing Western MNCs approach the affordability issues in the context of CEE rather defen-sively and reluctantly (Schuh, 2012). This may be resulting from the belief that the eco-nomic catching-up process will bring CEE consumers to a similar standard of living as in the “old” EU and any investment in products for the lower-segments would be only of temporary value. Therefore, CEE countries are not seen as the typical candidates for affordability strategies. This may be partly true for the most advanced Central European countries and Russia with rapidly rising household incomes in the last decade. But the economic downturn and the following recessionary development has shattered the consumption model that was based to a high degree on credit financing in those markets too. Moreover, studies show that there exists a high share of low-income households and price-sensitive consumers in CEE. According to the “Life in Transition” survey the mid-dle-class ranges from 4% in Albania to 27% in Slovenia – in between you can find Poland with 16% and Russia with 18% (EBRD, 2007). Pfeifer, Massen and Bombka (2007) estimate that 56% of the consumers or 57 million people, in Eastern Europe are low-income consumers (< 10,000 in PPP per year). In addition, in Russia and Ukraine 70% of the populations are falling in this category. A study of Roland Berger Strategy Consultants (2008) on “Consumer Archetypes in CEE” identified seven basic consumer types in CEE. Three out of them – the “self-centered consumers” (18% of population), “minimalists” (14%) and “rationalists” (12%) – can be classified as highly price-sensitive. Together, these three highly price-conscious consumer types make up 44% of the CEE market. What is more, other identified consumer types with less distinct price sensitivity could be taken into account as well. In total, these consumer types whose purchasing behavior is influenced predominantly by affordability amount to 56% of all CEE consumers. Summing up, the studies provide divergent figures of the size of the middle class and low-income segment in CEE. Different methodological approaches, classifications, and data bases are the reasons for these variations (Kharas, 2010). However, the findings show that the market below the middle class in CEE is a large one, accounting for more than 60% of the population of a country. The strategies that are used to address low-in-come consumers are described by the so-called “4 A’s”: affordability, acceptability, availability and awareness (Anderson & Markides, 2007). Affordability as a strategy con-cept can be defined as all measures of a company that aim at bringing the purchase of a product within the financial means of a consumer or household (or business). In the literature you can find different approaches towards this goal. Firms typically start with marginal changes in their marketing strategy (e.g., different packages, single portions). However, to tap the lower-end of these price-sensitive mass-markets and to reach non-consumers of your products changes have to go beyond rebranding and adapted market-ing elements. New business models with deeper and more comprehensive changes in product development and architecture of the supply-chain are needed to be successful in this segment (Johnson, Christensen & Kagermann, 2008). The purpose of the empirical part of this study is to get a better understanding of motives, goals and success factors of affordability initiatives addressing the countries of CEE. A case study approach is the best way to learn about underlying assumptions and considera-tions of managers involved in the decision-making process (Yin, 2009). The cases consist of two parts: a) a general company profile describing businesses, geographic presence and goals; b) the role of affordability for tapping emerging markets and the description of affordability initiatives in CEE countries. Globally active consumer goods companies in the food sector from USA and Western Europe were chosen as target firms: They ex-panded strongly into emerging markets and CEE in the last years, play a pioneer role in tapping low-income markets and exemplify the sought-after strategic constellation for this research, i.e. an MNC expanding from a traditional “premium-position” into lower-price segments. In addition, food companies serving broad segments of the population are faced with social responsibility issues, namely if they legitimately can deny people access to their products. So far three cases of Western companies with an extensive presence in emerging markets are available (see overview in Table 1). The results show that affordability is part of the marketing strategies in CEE of all these selected companies. A considerable share of the product portfolio and overall sales vol-ume in their CEE country organizations stem from affordable products. Higher growth rates of this segment than the overall market prove that there is a demand for this type of products. And it seems that these companies don’t see an insurmountable conflict in pursuing the two-pronged approach as indicated in the literature. All affordability strate-gies are run under a business perspective. They have to contribute to the growth and profitability goals, although social motives are mentioned as strong arguments too. The case of company A nicely shows how the affordability initiative started as a CSR project and then evolved into a business project. During this process they learned that they can make a “sustainable business case” out of it. This step was a break with so far existing concepts in the company, as it involved product development targeted to the demand and financial conditions of low-income households. Country organizations decide individu-ally if and to what degree they use affordability initiatives. In our cases Russian, Polish and Romanian subsidiaries were interested in the introduction of affordable products and looking for support within the group. The establishment of competence centers for affordability initiatives at global headquarters is a clear indication that a central hub is needed which provides basic strategy guidelines, offers assistance in the introduction of such initiatives and spreads best practices in the group. However, differences can be found in the market and branding strategy. While company A is using local brands in combination with the company brand, company C is using a strict two-tier strategy. Inter-national brands are sold parallel to local/regional ones which are used for the entry into the lower-income segment. Company B is covering all price points within a category with the international brand. So the brand stretches from the super-premium, premium and mainstream to the affordability segment. 4,000 “good value for money products” are sold worldwide today, in CEE the affordable category accounts for 25% of total turnover and grows twice as fast as the whole zone Europe. The differences can be explained via the basic approach towards branding: are they following a House of Brands or a Branded House architecture. As far as success factors are concerned all three cases show that the successful introduction of an affordable product range is based on (a) a commitment of the organization to the development of affordable products; (b) deep understanding of consumer behavior, buying patterns, and market situation; (c) utilization of synergies with higher priced brands; (d) focus on volume and scale via covering a large consumer base and (e) radical cost cutting along the whole value chain. In our ongoing research we try to increase the number of companies which run affordability initiatives to be able to cover a greater variety of industry and company types. Our research shows that multi-tier and affordability strategies can be found in other consumer and industrial markets in CEE too. This research shall help to clarify for which type of company it makes sense to ex-pand to lower-income segments. While so far the internal perspective was in the center of our research attention, market and competitive constellations should be covered in the future too.

Although the role of Guanxi in the Chinese business to business (B2B) market as a form of relationship marketing has received increasing attention in recent years, few empirical studies have explicitly distinguished between Guanxi and relationship marketing. Westerners typically consider Guanxi as unethical, but foreign-invested enterprises (FIEs) may have some difficulty in fully practicing relationship marketing in China without considering the influence of Chinese culture. In this regard, this study is guided by the following research question: “In China, should foreign-invested enterprises (FIEs) adopt Guanxi instead of relationship marketing in the B2B market?” In this study, we first provide an overview of previous research on Guanxi, focusing on the fundamental differences between Guanxi and relationship marketing. We then provide an empirical analysis of the differential effects of Guanxi and relationship marketing on firm performance by investigating 295 FIEs in the Chinese B2B market. The results suggest that Guanxi and relationship marketing are not trade-off options in today’s Chinese market. Guanxi and relationship marketing have synergetic effects on firm performance, that is, they have differential effects based on the mode of market entry and the type of competitor. Guanxi is more likely to influence firm performance for collaboration based entry firms rather than entry without collaboration firms, whereas relationship marketing is more likely to influence firm performance when FIEs’ main competitors are foreign firms than when they are local firms.

한국 이러닝 산업의 국내 시장은 포화상태이고 수출지역이 중국 및 일본에 국한되었기 때문에 수출지역 확대를 위한 신규시장 개척이 필요하다. 또한 해외 진출시 필요한 유통망 확보, 객관적 해외시장 정보, 접근전략 등이 포함된 종합적인 해외시장진출 정보 역시 지원되어야 할 시점이다. 이를 위해 한국의 이러닝 산업은 시장성이높지만 한국의 진출이 미미한 수준인 중동권 시장 진출을 추진할 필요가 있다. 또한중동지역 진출과 더불어 그 지역의 사회, 문화와 더불어 기업 현황, 교육 현황, 정부정책 등을 체계적으로 분석하여 추진전략을 세워야 한다.본 연구는 사우디아라비아와 UAE의 이러닝 현황을 조사하고 이러닝 정부정책 현황및 관련기관, 정부부처, 주요기업 등을 유목화 하였다. 그리고 조사내용을 분석하여사우디아라비아와 UAE의 이러닝 시장 진출 전략을 도출하였다. 본 연구의 결과는국내 기업의 이러닝 해외시장 개척 및 글로벌 역량 강화를 촉진하는 자료가 될 것으로 예상된다. 특히 중동권 대표국의 이러닝 시장 전망 및 분석을 통한 정책 수립과산업진출 및 사업전개를 위한 사업실시 매뉴얼 구성을 위한 기초자료로 활용될 수있을 것이다.

본 연구는 중국이 우리나라 기업들의 최대 투자대상국으로 부상하면서 중국으로의 해외직접투자에 대한 연구가 보다 활성화되어야 한다는 당위성 아래 기존의 투자업체 및 중국 관련조사자들에게 일반적으로 인식되고 있는 `수출위주일수록, 소유권의 지배를 강화할수록 경영성과가 양호하다`는 주장의 논리적 근거를 제시하고, 이를 실증적으로 분석해 보고자 하였다. 본 연구는 대중국 직접투자 성과 결정요인으로서 시장전략(수출위주 혹은 내수위주)과 소유권전략이 제시되는 이유를 중국이라는 지역이 가지는 환경불확실성 때문으로 인식하고, 이러한 불확실한 외부환경을 관리할 수 있는 효과적인 수단으로 수출위주의 시장전략과 지배적인 소유권을 선택함으로써 경영성과를 제고시킬수 있는 것으로 파악하였다. 연구결과 우리나라 기업들의 대중국 직접투자에서 환경불확실성은 수출위주의 시장전략에 긍정적인 영향을 미치는 것으로 나타났으나, 환경불확실성이 지분비율에 미치는 효과는 미미한 것으로 드러났다. 또한 환경불확실성-경영성과의 관계에서 수출비율은 환경불확실 성에 영향을 받으면서 경영성과에도 독자적으로 영향을 미치는 중개변수(intervening variable)의 효과를, 그리고 지분비율은 경영성과와는 직접적인 관계없이 환경불확실성이 경영성과에 미치는 부정적인 영향을 완화시켜 주는 중재변수(moderated variable)의 역할을 하고 있는 것으로 나타났다.

The focus of this study is to investigate the mediating role of online market orientation on information capital readiness-business performance relationship. The construct of information capital readiness is rarely researched. The readiness here refers to the availability of information capital needed to support strategy execution. As quantitative research, this study employs the partial least squares structural equation modeling (PLS-SEM) to test the hypotheses. Data was collected using questionnaires from the owners/managers of the micro, small, and medium-sized enterprises (MSMEs) in the East Java Province, Indonesia. As many as 433 respondents had participated. The result indicates that information capital readiness directly and positively affects business performance. Further analysis reveals that online market orientation partially mediates information capital readiness-business performance relationship. In conclusion, this study suggests that the owners/managers of the MSMEs should improve their information capital readiness to support online market orientation strategy so that it can improve their business performance. This is the first study that brings together the issues of information capital readiness and online market orientation as the antecedents of business performance in the Indonesian MSMEs research setting. The mediating role of online market orientation is rarely explored in previous studies.

Purpose – Market orientation is a key factor for business performance in today’s fluctuating conditions. This study investigates whether the employment of innovation can improve the innovative capability and increase the performance by gaining competitive advantages or not. Therefore, this study aims to investigate the effects of market orientation on the performance of small and medium size distributer enterprises (SMDEs) in Iran. Research design, data, and methodology – Customer orientation, Competitor orientation, and Inter-functional coordination have been regarded as market orientation indices to determine the effects of these indices on marketing innovation, gaining competitive advantages, and companies’ performance as well. Data were collected from managers and experts in SMDEs in Iran. The structural equations modeling are used for analysis. Results – The results indicated that marketing innovation has been improved in competitive companies that enjoyed a high level of Inter-functional coordination among the various units. Besides, marketing innovation resulted in gaining competitive advantages regarding cost management, concentration, and differentiation in these companies. In addition, it was observed that SMDEs that obtain competitive advantages are equipped to reap superior performance. Conclusions – With cost management, differentiation and concentration are more likely to enhance the enterprise efficiency and effectiveness than other companies. Additionally, competitiveness, inter-functional coordination, and marketing innovation in SMDEs have a positive impact on marketing innovation.

Stability of labor market in rural areas was analyzed in this paper with categories of industrial group, employment scale, surviving period, and founder group. The stability of each classified labor market was compared with each other to figure out the stable business class and the unstable class in rural areas. The results of rural areas were compared with those of urban areas. The stability was analyzed with average and coefficient of variation (C.V.) of annual total employees’ change rates. It was revealed that labor market of ‘primary industry’, including agriculture, is unstable. Especially, labor market of ‘mid-size’ and ‘primary industry’ businesses founded as ‘incorporated company’ in rural areas is vulnerable. While labor market of ‘large-size’ is proved to be unstable, it is confirmed that ‘small-size’ or ‘mid-size’, and ‘over-ten-year survived’ businesses have positive contribution to the stable labor market in rural and urban areas. The results show that the stability of labor market is different in each category of business and in each region of rural or urban area. It is expected that the results can be utilized for the regional development policies, of labor and industry part.

The purpose of this research is to introduce the concept of "relationship formation factors" in inter-firm relations and to empirically demonstrate that they are effective in improving the relationship results by means of an mediating variable. Therefore, the basic model of this study consists of the independent, mediating, and dependent variables. First, the independent variables, that is, the relationship formation factors, are further classified into three components. transactional, relational, and environmental characteristics. Then, the study empirically examines how each of the three components influences the dependent variable. that is, the business performance(Load Factor), by way of the mediating variables, that is, trust and relationship commitment.

The purpose of this study is to shed some light on how market orientation, mediators such as employee satisfaction, service quality and commitment, and business performance are related and to offer important managerial implication for managements or marketing practioners in the International logistics service industry.