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Title:                                   Swedish companies and Russia just changed their                                            relationship status to “It is complicated” ­- A multi-case study about how Swedish B2B companies change commitments towards the turbulent Russian market to remain resilient                     Authors:                             Hannes von Dahn & Viktor Jakobsson   Supervisor:                        Niklas Åkerman   Examiner:                           Susanne Sandberg   Course:                              Business Administration III - Degree Project with specialization in International Business (Bachelor)   Problem:                            The sanctions against Russia and the decline of the oil price have created a complex situation. As a result of this the Swedish export dropped with 50% in just one year. This calls for research concerning how Swedish companies, changes their commitments in order to remain resilient on the turbulent Russian market.   Purpose:                             This study intends to study how Swedish B2B companies change their commitments concerning tangible resources, intangible resources and operation mode, to remain resilient in the Russian market.   Research Question:            How do Swedish B2B companies change commitments to remain resilient in the turbulent Russian market?   Methodology:                    This is a qualitative study, which is following a deductive approach. The research is a multi-case study consisting of four case companies.   Conclusion:                        Swedish B2B companies change their commitments to remain resilient in the turbulent Russian market. The result of this study shows that intangible commitments are both increased and decreased. Tangible commitments meanwhile, are decreased or put on hold, while changes concerning operation modes required less uncertain futures before being conducted.

During the times of fast phased global business, organizations must discover new ways to make functional strategies to survive, so the search for competitive advantage remains the main objective for companies. Intangible assets are increasingly essential for value creation for firms due to their valuable, rare, inimitable, non-substitutable nature. Particularly corporate reputation can be identified as an essential intangible asset possessed by a firm, due to its tacit nature. Hence, managing and understanding the antecedent of corporate reputation management is crucial for gaining competitive advantage. Moreover, focus on valuing and understanding the intangibles is essential for SMEs, which usually possess fewer resources for evaluating and managing these resources compared to large and more structured companies. Worldwide SMEs are in general representing over half of the economy, and enhanced business performance can further positively influence on the economic wealth. We were able to identify a research gap since there are no studies on how to utilize corporate reputation management in the SME context without a large scale of resources or the separate marketing department. We want to fill the gap by providing empirical evidence on the process of improving reputation management in Finnish SME setting. The purpose of this thesis is to gain more in-depth understanding of the prevailing corporate identity and communication in the SME and how to utilize these as an antecedent of corporate reputation by evaluating the internal managerial perceptions of the Finnish engineering installation company, Alpha Group. Furthermore, the aim is to give practical suggestions for managing corporate reputation by implementing an appropriate way to communicate the desired corporate identity both internally and externally. A framework has been created from the previous literature where a process for managing corporate reputation is compiled. Corporate identity represents an antecedent of corporate reputation, whereas corporate communication can be seen as a management tool to manage it. To fulfill the purpose of the thesis, a qualitative study was conducted, with eight semi-structured interviews with the top and middle managers of Alpha Group. Through the interviews, we gained a more in-depth understanding of the current condition of corporate identity as well as internal and external communications. From our findings, we could conclude that scarcity of resources is limiting the development of intangible resources in Alpha Group. Reputation of Alpha Group is based on the operational factors, rather than managed intentionally, so currently it is strongly associated only to serve their clients. Corporate identity was found unclear within the organization and the organization did not have strategy for corporate communications. This has caused unidentifiable corporate identity within organization, which has led to scattered corporate identity between different locations and business units. We will provide practical recommendations for managers of SMEs in general and for Alpha Group, on how to manage corporate identity and establish corporate communication systems.

Fundamentado na Teoria da Visão da Firma Baseada em Recursos (VBR), este estudo teve o objetivo de identificar, avaliar e analisar os diversos recursos (tangíveis e intangíveis) e as diferentes capabilidades encontrados na indústria moveleira de Bento Gonçalves no Rio Grande do Sul (estado que possui mais de 20% da produção nacional e cerca de 30% do total das exportações de móveis, e cujo maior pólo industrial é o de Bento Gonçalves). Fazendo-se inicialmente uma revisão teórica de conceitos-chave da VBR como os de recursos e de capabilidades, este estudo procurou associar a obtenção de vantagens competitivas sustentadas a uma correta determinação da estratégia, baseada no desenvolvimento e na combinação de recursos da firma que sejam valiosos e únicos para o mercado. Este trabalho possui uma relevância tanto teórica quanto prática na medida em que ele procura expandir a aplicação da VBR e propor um framework para a identificação e avaliação de recursos e capabilidades. De natureza exploratória e qualitativa, o método de pesquisa utilizado foi o estudo de casos múltiplos. Foram pesquisadas quatro empresas do setor moveleiro de Bento Gonçalves (uma grande, uma média e duas pequenas) e os principais resultados foram: é possível identificar todos os tipos de recursos, desde os “clássicos” tangíveis até os ativos das marcas e patentes, e competências como o know-how de funcionários. As capabilidades identificadas e analisadas mostraram que o caminho para se atingir uma vantagem competitiva sustentada independe do porte da empresa e do mercado em que ela atua. As conclusões do estudo apontam para uma mudança gradual de ênfase do recurso tangível para o intangível no mercado contemporâneo. / Based on the Resource Based View of the Firm (RBV), this study had the objective of identifying, assessing and analyzing the different resources (tangibles and intangibles) and capabilities found in the furniture industry of Bento Gonçalves, at Rio Grande do Sul (state that accounts for more than 20% of national production and about 30% of total furniture exports, and whose largest industrial pole is the Bento Gonçalves one). Beginning with a theoretical review of the RBV key concepts, such as of resources and capabilities, this study looked for associating the attainment of sustainable competitive advantage to a correct determination of strategy, based on the development and on the combination of the firm’s resources which are valuable and unique to the market. This work has a relevance either theoretical as practical, in the way that it looks for expanding RBV application and considering a framework for identification and assessment of resources and capabilities. Having an exploratory and qualitative nature, the research method applied was a multiple case study. Four companies from Bento Gonçalves furniture sector have been studied (a big one, one average and two small companies) and the main outcomes were: it is possible to identify all the types of resources, since the “classical” tangible ones, until the assets of registered trade mark and patents, and the competences like the employees know-how. The identified and analyzed capabilities had shown that the way to reach a sustainable competitive advantage is independent from the company’s size and from the market where it acts. The study conclusions point to a gradual change of emphasis from the tangible resource to the intangible one in the contemporary market.

Fundamentado na Teoria da Visão da Firma Baseada em Recursos (VBR), este estudo teve o objetivo de identificar, avaliar e analisar os diversos recursos (tangíveis e intangíveis) e as diferentes capabilidades encontrados na indústria moveleira de Bento Gonçalves no Rio Grande do Sul (estado que possui mais de 20% da produção nacional e cerca de 30% do total das exportações de móveis, e cujo maior pólo industrial é o de Bento Gonçalves). Fazendo-se inicialmente uma revisão teórica de conceitos-chave da VBR como os de recursos e de capabilidades, este estudo procurou associar a obtenção de vantagens competitivas sustentadas a uma correta determinação da estratégia, baseada no desenvolvimento e na combinação de recursos da firma que sejam valiosos e únicos para o mercado. Este trabalho possui uma relevância tanto teórica quanto prática na medida em que ele procura expandir a aplicação da VBR e propor um framework para a identificação e avaliação de recursos e capabilidades. De natureza exploratória e qualitativa, o método de pesquisa utilizado foi o estudo de casos múltiplos. Foram pesquisadas quatro empresas do setor moveleiro de Bento Gonçalves (uma grande, uma média e duas pequenas) e os principais resultados foram: é possível identificar todos os tipos de recursos, desde os “clássicos” tangíveis até os ativos das marcas e patentes, e competências como o know-how de funcionários. As capabilidades identificadas e analisadas mostraram que o caminho para se atingir uma vantagem competitiva sustentada independe do porte da empresa e do mercado em que ela atua. As conclusões do estudo apontam para uma mudança gradual de ênfase do recurso tangível para o intangível no mercado contemporâneo. / Based on the Resource Based View of the Firm (RBV), this study had the objective of identifying, assessing and analyzing the different resources (tangibles and intangibles) and capabilities found in the furniture industry of Bento Gonçalves, at Rio Grande do Sul (state that accounts for more than 20% of national production and about 30% of total furniture exports, and whose largest industrial pole is the Bento Gonçalves one). Beginning with a theoretical review of the RBV key concepts, such as of resources and capabilities, this study looked for associating the attainment of sustainable competitive advantage to a correct determination of strategy, based on the development and on the combination of the firm’s resources which are valuable and unique to the market. This work has a relevance either theoretical as practical, in the way that it looks for expanding RBV application and considering a framework for identification and assessment of resources and capabilities. Having an exploratory and qualitative nature, the research method applied was a multiple case study. Four companies from Bento Gonçalves furniture sector have been studied (a big one, one average and two small companies) and the main outcomes were: it is possible to identify all the types of resources, since the “classical” tangible ones, until the assets of registered trade mark and patents, and the competences like the employees know-how. The identified and analyzed capabilities had shown that the way to reach a sustainable competitive advantage is independent from the company’s size and from the market where it acts. The study conclusions point to a gradual change of emphasis from the tangible resource to the intangible one in the contemporary market.

In the knowledge-based economy, the wealth creation is associated with the development and maintenance of competitive advantages based on intangible elements. Faced with this growing strategic importance of intangibles, it seems necessary that companies disclosure information on those elements. However, although companies disclosure information increasingly on a voluntary basis, they are still many which merely comply with legal requirements, omitting highly relevant information on their intangible resources. The objective of this paper is to have data on what level of interest in providing this information by Spanish companies. Therefore, a review of the most important literature about intangibles disclosure in Spanish companies is shown. / En la actual economía del conocimiento, la creación de riqueza está asociada con el desarrollo de ventajas competitivas basadas en elementos intangibles. Ante esta creciente importancia estratégica de los intangibles, parece necesario que las empresas presenten información sobre tales elementos. Sin embargo, aunque cada vez más las compañías presentan información adicional de forma voluntaria, aún siguen siendo muchas las que se limitan a cumplir las exigencias legales, omitiendo información de gran relevancia relativa a sus recursos intangibles. Nuestro objetivo es conocer el nivel de interés por parte de las empresas españolas en suministrar este tipo de información. Para ello, en este trabajo se revisa los principales estudios existentes sobre divulgación voluntaria de información relativa a elementos intangibles por parte de las empresas españolas.

Fundamentado na Teoria da Visão da Firma Baseada em Recursos (VBR), este estudo teve o objetivo de identificar, avaliar e analisar os diversos recursos (tangíveis e intangíveis) e as diferentes capabilidades encontrados na indústria moveleira de Bento Gonçalves no Rio Grande do Sul (estado que possui mais de 20% da produção nacional e cerca de 30% do total das exportações de móveis, e cujo maior pólo industrial é o de Bento Gonçalves). Fazendo-se inicialmente uma revisão teórica de conceitos-chave da VBR como os de recursos e de capabilidades, este estudo procurou associar a obtenção de vantagens competitivas sustentadas a uma correta determinação da estratégia, baseada no desenvolvimento e na combinação de recursos da firma que sejam valiosos e únicos para o mercado. Este trabalho possui uma relevância tanto teórica quanto prática na medida em que ele procura expandir a aplicação da VBR e propor um framework para a identificação e avaliação de recursos e capabilidades. De natureza exploratória e qualitativa, o método de pesquisa utilizado foi o estudo de casos múltiplos. Foram pesquisadas quatro empresas do setor moveleiro de Bento Gonçalves (uma grande, uma média e duas pequenas) e os principais resultados foram: é possível identificar todos os tipos de recursos, desde os “clássicos” tangíveis até os ativos das marcas e patentes, e competências como o know-how de funcionários. As capabilidades identificadas e analisadas mostraram que o caminho para se atingir uma vantagem competitiva sustentada independe do porte da empresa e do mercado em que ela atua. As conclusões do estudo apontam para uma mudança gradual de ênfase do recurso tangível para o intangível no mercado contemporâneo. / Based on the Resource Based View of the Firm (RBV), this study had the objective of identifying, assessing and analyzing the different resources (tangibles and intangibles) and capabilities found in the furniture industry of Bento Gonçalves, at Rio Grande do Sul (state that accounts for more than 20% of national production and about 30% of total furniture exports, and whose largest industrial pole is the Bento Gonçalves one). Beginning with a theoretical review of the RBV key concepts, such as of resources and capabilities, this study looked for associating the attainment of sustainable competitive advantage to a correct determination of strategy, based on the development and on the combination of the firm’s resources which are valuable and unique to the market. This work has a relevance either theoretical as practical, in the way that it looks for expanding RBV application and considering a framework for identification and assessment of resources and capabilities. Having an exploratory and qualitative nature, the research method applied was a multiple case study. Four companies from Bento Gonçalves furniture sector have been studied (a big one, one average and two small companies) and the main outcomes were: it is possible to identify all the types of resources, since the “classical” tangible ones, until the assets of registered trade mark and patents, and the competences like the employees know-how. The identified and analyzed capabilities had shown that the way to reach a sustainable competitive advantage is independent from the company’s size and from the market where it acts. The study conclusions point to a gradual change of emphasis from the tangible resource to the intangible one in the contemporary market.

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This study aims to investigate the relative contribution of tangible and intangible resources, and capabilities on firm performance based on the measures of market share, sales turnover and profitability and explore the complex interaction and foundation of different resource sets and capabilities in the process of performance creation within the context of resource-based theory. In order to address these objectives, a mixed-methods research approach incorporating both qualitative and quantitative components was utilised. Hence, a sequential explanatory design is employed, commencing with qualitative methods including in-depth interviews along with the literature review to define and organise resources and capabilities in a coherent system that will form the basis of survey instrument, leading to quantitative methods which empirically test a series of hypotheses regarding the contribution of resources and capabilities on firm performance. Whilst qualitative data analysis indicated organisational culture, reputational assets, human capital, business processes and networking capabilities as the most important determinants of firm performance, the survey that was conducted on a total of 243 questionnaires obtained from 951 firms revealed that intangible resources and capabilities contributed more greatly to firm performance compared to tangible resources. However, in contrast to the proposition of resource-based theory that views capabilities as the most important skills that underpin the development and deployment of both tangible and intangible resources, capabilities offered rather limited additional explanatory power to the prediction of firm performance only with respect to profitability against the combined effects of tangible and intangible resources. All findings were explained especially within the context of Turkish business environment that shows typical emerging market characteristics. Moreover, some noteworthy results were elaborated based on the developed and emerging market differences. Overall, the study raises some questions with respect to resource contributions on firm performance and offers a fruitful avenue for further research.

Submitted by Fabricia Fialho Reginato (fabriciar) on 2015-07-03T01:17:28Z No. of bitstreams: 1 FernandoFontana.pdf: 578681 bytes, checksum: da3b83c9232b1611e07e3a9c58e8b1e6 (MD5) / Made available in DSpace on 2015-07-03T01:17:28Z (GMT). No. of bitstreams: 1 FernandoFontana.pdf: 578681 bytes, checksum: da3b83c9232b1611e07e3a9c58e8b1e6 (MD5) Previous issue date: 2011-04-11 / Nenhuma / O objetivo deste estudo foi investigar os fatores explicativos do nível de evidenciação voluntária de informações sobre recursos intangíveis nas empresas listadas na BM&FBovespa. Partindo do pressuposto de ineficiência de mercado; pela existência de assimetria informacional entre gestores e acionistas/investidores, a Teoria da Agência indica que a evidenciação poderia implicar em redução de custos de agência. De outra parte a Teoria do Custo dos Proprietários fundamenta que evidenciar informações geraria custo para a empresa. A justificativa da investigação ampara-se no fato de que mesmo com a grande quantidade de estudos encontrados sobre evidenciação de informações, no âmbito internacional ainda é escasso o número de estudos sobre o nível de evidenciação de informações sobre recursos intangíveis e, no âmbito nacional não foi encontrado nenhum estudo. A escolha da informação sobre recursos intangíveis configurou-se pelo reconhecimento de que os mesmos diferenciam o potencial competitivo de uma organização empresarial e a evidenciação deste tipo de informação poderia afetar o valor da empresa. Trata-se de um estudo explicativo, com abordagem de evidencias qualitativa e quantitativa. A amostra foi composta por 29 empresas. O documento analisado foi o relatório anual. Realizou-se sua coleta por meio de download nos websites das empresas, correspondente ao período de 2005 a 2009. O nível de evidenciação de informações sobre recursos intangíveis foi mensurado pela análise de conteúdo dos relatórios anuais, utilizando-se indicadores e, posteriormente, por índices, segundo o modelo de Macagnan (2005). A técnica de análise utilizada foi de regressão linear múltipla com dados em painel. Os principais resultados são que não se rejeitam as hipóteses: tamanho, endividamento, liquidez, preço da ação dividido pelo seu valor contábil e tempo de registro na CVM, num nível de significância de 1%, como fatores explicativos do nível de evidenciação de informações sobre recursos intangíveis em geral. As hipóteses: rentabilidade, crescimento, capital flutuante, dividendos por ação, volatilidade da ação e eficiência foram rejeitadas como fatores explicativos do nível de evidenciação de informações sobre recursos intangíveis em geral. Como contribuição diferencial deste estudo destaca-se a identificação e não rejeição da hipótese tempo de registro na CVM como um dos fatores explicativos. / The objective of this study was to investigate the explicative factors of the level of voluntary disclosure of information about intangible resources in companies listed on BM&FBovespa. Considering market inefficiency, the existence of information asymmetry between managers and shareholders/investors, the Agency Theory indicates that the disclosure might result in the reduction of agency costs. On the other hand, the Proprietary Costs Theory establishes that the disclosure of information would generate cost to the company. The justification to the study is grounded on the fact that even with the large number of studies found about disclosure of information, in an international scope, the number of studies on the level of disclosure of information about intangible resources is still scarce, and in national scope no studies were found. The choice of information about intangible resources was configured by the recognition that they differentiate the competitive potential of a business organization and disclosure of that kind of information could affect the company value. This is an explanatory study, with a qualitative and quantitative approach of the evidences. The sample included 29 companies. The document analyzed was their annual report. The annual reports were downloaded from the websites of the companies, and are related to the period that goes from 2005 to 2009. The level of disclosure of information about intangible resources was measured through the content analysis of annual reports, using indicators and, subsequently, by indexes, according to the Macagnan model (2005). The analysis technique used was multiple linear regression with panel data. The main findings show that the following hypotheses are not rejected: size, leverage, liquidity, market to book ratio and time of registration in the CVM, at a significance level of 1%, as explanatory factors of the level of disclosure of information about intangible resources in general. The hypotheses: profitability, growth, free float, dividends per share, stock volatility and efficiency were rejected as explanatory factors for the level of disclosure of information about intangible resources in general. As a differential contribution of this study the identification and not rejection of the hypothesis time of registration in CVM stands out as one of the explanatory factors.