The diploma thesis focuses on a fundamental analysis of shares of European multinational food companies. The theoretical part describes methods of fundamental analysis. The analytical part includes testing of stock valuation models, selection of companies, their analysis and comparison. The last part includes proposal of portfolio of the hedge fund.

<p></p><p><strong>Title:</strong> Competitive Strategies of Ethnic Food Companies in Sweden</p><p><strong>Authors:</strong> Düriye Canbaz – Aktuğ Yılmaz</p><p><strong>Instructor:</strong> Prafulla Acharya</p><p><strong>Course:</strong> EFO 705-Master Thesis</p><p><strong>Date:</strong> 25/05/2009</p><p><strong>Introduction:</strong> Sweden has a population of 9.1 million habitants and approximately 1.2 million people or 13% of the Swedish population consists of foreign nationalities or individuals born abroad. If the second generation is included in the consideration then the number increases to approximately 1.6 million which in the end corresponds to over 17% of the total population. (Market Brief Focus on Swedish Market, 2007, p.3) Under such circumstances, it is not unusual to see demand for ethnic food. During the last few years, ethnic food products have experienced a very positive market trend and the development is a reflection of both the increasing number of immigrants and native Swedes increasing interest in ethnic foods. (Ibid, p.6) “<em>Several years ago, immigrants constituted the principal consumer group of ethnic foods, but this has changed over the years</em>” that “<em>Swedish consumers are now more and more regarded as the main consumer group of ethnic foods</em>” (Ibid, p.6) Under such circumstances, the competition among the companies rise that companies try to raise their level of competitiveness. Doing so, companies adopt some strategies and develop some competences to outperform the rivals.</p><p><strong>Problem: </strong>How to compete in Swedish ethnic food stuff industry?</p><p>Sub questions;</p><p>-          What competitive strategies should be carried out?</p><p>-          What competences and competitive advantages should be developed?</p><p> </p><p><strong>Purpose:</strong> The aim of this thesis is to identify the competitive strategies of existent ethnic food stuff companies in Sweden in order to set a success model for the new entrants as a guideline. To be able to set a clear model the distinctive competences of the companies on which strategies are constructed will be identified.</p><p><strong>Method: </strong>In this dissertation we used both primary and the secondary data. The primary data that we used consists of interviews that we made with the informants from the ethnic food stuff companies and retailers. The secondary data that is used in the thesis generally consists of resources that are relevant and valid such as reports from Swedish Chambers, European Union and reports from United States Department of Agriculture (USDA) as well as some dissertations from Swedish universities.</p><p><strong>Analysis and Conclusions: </strong>In Swedish ethnic food market both market structure and companies’ resources play important role in the shaping of competitive strategies. Case companies Laroc AB and Sevan AB follows the product differentiation strategy. Companies differentiate in quality, price and product variety. Also, they follow special strategies in branding and target different consumers groups. We recommend to new entrants to follow Sevan’s strategy in the short time which is providing well known brands from Middle Eastern region. However, in the long run, we recommend them to follow Laroc’s strategy which is generally based on creating its own brand name. One of the other recommendations we have for the new entrants is working with the independent stores that are not explored by the other ethnic food stuff companies. Another recommendation that we have for new entrants is the processed food and ready meal products. In the market for Middle Eastern processed food and ready meal products, there is a limited range of products. Ethnic food market is changing, as the only thing that does not change is change itself. Ethnic food is losing its ethnicity as it gets appreciated by the consumers and embeds into culture. Thus, both current competitors and new entrants should be aware of the changes and orient themselves accordingly.</p><p> </p>

Title: Competitive Strategies of Ethnic Food Companies in Sweden Authors: Düriye Canbaz – Aktuğ Yılmaz Instructor: Prafulla Acharya Course: EFO 705-Master Thesis Date: 25/05/2009 Introduction: Sweden has a population of 9.1 million habitants and approximately 1.2 million people or 13% of the Swedish population consists of foreign nationalities or individuals born abroad. If the second generation is included in the consideration then the number increases to approximately 1.6 million which in the end corresponds to over 17% of the total population. (Market Brief Focus on Swedish Market, 2007, p.3) Under such circumstances, it is not unusual to see demand for ethnic food. During the last few years, ethnic food products have experienced a very positive market trend and the development is a reflection of both the increasing number of immigrants and native Swedes increasing interest in ethnic foods. (Ibid, p.6) “Several years ago, immigrants constituted the principal consumer group of ethnic foods, but this has changed over the years” that “Swedish consumers are now more and more regarded as the main consumer group of ethnic foods” (Ibid, p.6) Under such circumstances, the competition among the companies rise that companies try to raise their level of competitiveness. Doing so, companies adopt some strategies and develop some competences to outperform the rivals. Problem: How to compete in Swedish ethnic food stuff industry? Sub questions; -          What competitive strategies should be carried out? -          What competences and competitive advantages should be developed?   Purpose: The aim of this thesis is to identify the competitive strategies of existent ethnic food stuff companies in Sweden in order to set a success model for the new entrants as a guideline. To be able to set a clear model the distinctive competences of the companies on which strategies are constructed will be identified. Method: In this dissertation we used both primary and the secondary data. The primary data that we used consists of interviews that we made with the informants from the ethnic food stuff companies and retailers. The secondary data that is used in the thesis generally consists of resources that are relevant and valid such as reports from Swedish Chambers, European Union and reports from United States Department of Agriculture (USDA) as well as some dissertations from Swedish universities. Analysis and Conclusions: In Swedish ethnic food market both market structure and companies’ resources play important role in the shaping of competitive strategies. Case companies Laroc AB and Sevan AB follows the product differentiation strategy. Companies differentiate in quality, price and product variety. Also, they follow special strategies in branding and target different consumers groups. We recommend to new entrants to follow Sevan’s strategy in the short time which is providing well known brands from Middle Eastern region. However, in the long run, we recommend them to follow Laroc’s strategy which is generally based on creating its own brand name. One of the other recommendations we have for the new entrants is working with the independent stores that are not explored by the other ethnic food stuff companies. Another recommendation that we have for new entrants is the processed food and ready meal products. In the market for Middle Eastern processed food and ready meal products, there is a limited range of products. Ethnic food market is changing, as the only thing that does not change is change itself. Ethnic food is losing its ethnicity as it gets appreciated by the consumers and embeds into culture. Thus, both current competitors and new entrants should be aware of the changes and orient themselves accordingly.

Understanding the class position of family owned small scale agricultural production units, which constitute a common feature of the rural context in the later capitalized countries, have been one of the major discussion points in the Marxist literature. The continual existence of such a form of production organization with significant non-capitalist features under the enlarging capitalist organization of production despite the initial assumptions of Marxist analysis that it was a transitory form which will soon differentiate between proletariat and bourgeoisie have prompted a number if attempts at explaining the survival of this category. These debates have strongly influenced the analyses in the field of rural sociology from 1960s onwards, providing the conceptual tools for sociological analysis of rural relations of production. This thesis engages in an attempt of re-appraising the theoretical debates within Marxist analysis of petty agricultural production organization together with considering the recent transnational reorganization of agricultural production. The neo-liberal retraction of state as a regulating force and loosening the protectionist policies has lead to the rise of the power of Trans-National Corporations (TNCs) in the field of agriculture in the past couple of decades. Contractual farming is defined as a major form of direct relationship TNCs establish with petty agricultural producers to exercise their determining power over the organization of agricultural production. Together with a case study of contractual farming, the thesis discusses how could we define the class positions of this segment and whether their relationship with TNCs have a significant affect over our definitions.

Thesis (MNutr (Interdisciplinary Health Sciences. Human Nutrition))--University of Stellenbosch, 2009. / Embargo expiry date: 2010-07-31 plt 2010 / ENGLISH ABSTRACT: The prevalence of chronic diseases of lifestyle such as cardiovascular disease, cancer, type 2 diabetes mellitus and obesity are increasing worldwide due to changes in lifestyle patterns, including changes in the food consumption patterns of consumers. There are numerous players who need to be involved in addressing current lifestyle patterns and in encouraging positive behaviour change. Food companies have a role in evaluating the composition of the products that they offer, as well as in educating consumers with regard to healthy eating practices through both the on-pack information that they supply and in their nutrition strategies and programmes. The main objective of the study was to investigate the nutrition strategies that food companies in South Africa use to communicate with the consumers and to compare it with the knowledge, attitudes and practices of the consumers towards the nutrition information that they receive. The secondary objective was to develop guidelines for food companies in their promotion of the prevention of chronic diseases of lifestyle. Methodology The study population consisted of a sample of 7 food companies operating in South Africa and a sample of 230 South African consumers. Data were collected through test questionnaires aimed at each specific study population. The data were analysed statistically for each study population and the data between the two study populations were compared. Results Most food companies that participated stated that they have a nutrition strategy which outlines their consumer communication policy, but none of these were made available to the researcher. Seventy-one percent of the food companies also indicated that they address chronic diseases of lifestyle in their nutrition strategies, with cardiovascular disease being the main focus. The medium used most frequently by food companies for nutrition education of the consumer is the food label. The majority of food companies agree that they do have a responsibility towards the education of the consumer, but stated that it is not solely their responsibility. Ninety-six percent of consumers read (always or sometimes) the labels of food products when making a purchase. The older the consumer, the more unlikely they are to read the ingredients statement on the label. Consumers are most concerned with cardiovascular disease when purchasing food products. Ninety-five percent of consumers agreed that food companies have a responsibility towards them with regard to nutrition education. The consumers indicated that they prefer food labels and television as the medium for nutrition education, but that they trust doctors and nutritionists the most to relay nutrition messages. Conclusion Consumer education on the prevention of chronic diseases of lifestyle is essential if the behaviour change, necessary to address their rising prevalence, is to become a part of consumers’ lifestyles. Food companies should be actively involved with consumer education pertaining to healthy eating and healthy lifestyle habits. Communication with regard to nutrition education is critical and should be consistent with an integrated approach involving all the role players including the food industry, the Department of Health (DOH) and the Department of Education (DOE). / AFRIKAANSE OPSOMMING: Die prevalensie van kroniese lewensstyl siektes soos hartvatsiektes, kanker, tipe 2 diabetes mellitus en vetsug is wêreldwyd aan die toeneem weens ’n verandering in die lewenstyl van verbruikers wat ’n weer ‘n verandering in eetgewoontes teweeg bring. Daar is verskeie rolspelers betrokke wat ’n bydrae kan lewer om die huidige lewensstyl patrone van verbruikers aan te spreek en om positiewe gedragsveranderinge te bevorder. Voedselmaatskappye speel ‘n tweeledige rol: deur die samestelling van voedselprodukte wat hulle versprei te evalueer, en deur die verbruiker op te voed oor gesonde eetgewoontes. Maatskappye se voedingstrategieë en programme, asook die verpakking van produkte, kan gebruik word om voedingsinligting te verskaf. Die studie se hoof doelwit was om die voedingstrategieё te ondersoek wat deur voedselmaatskappye in Suid Afrika gebruik word en om dit te vergelyk met die kennis, houding en praktyke van die verbruiker teenoor voedingsinligting wat hulle ontvang. Die sekondêre doelwit was om riglyne vir voedselmaatskappye te ontwikkel ter ondersteuning van die maatskappye se inisiatiewe om kroniese lewensstyl siektes te voorkom. Metodologie Die studiepopulasie het bestaan uit ’n steekproef van 7 voedselmaatskappye wat in Suid Afrika werksaam is en ‘n steekproef van 230 Suid Afrikaanse verbruikers. Data is ingesamel deur twee uitgetoetsde vraelyste te gebruik wat spesifiek geteiken was vir elke studie populasie. Die data is statisties geanaliseer vir elke studie populasie en die studie populasies is ook met mekaar vergelyk. Resultate Die meeste voedselmaatskappye wat deelgeneem het aan die studie verklaar dat hulle ‘n voedingstrategie het wat die wyse waarop daar met die verbruiker kommunikeer word uitstippel, nogtans was geeneen van die voedingstrategieë beskikbaar gestel aan die navorser nie. Een en sewentig persent van die voedselmaatskappye het ook aangedui dat kroniese lewensstyl siektes aangespreek word in hul voedingstrategieë en dat daar gefokus word op hartvatsiektes. Voedselmaatskappye gee voorkeur aan die voedseletiket as medium vir voedingvoorligting aan die verbruiker. Die meeste voedselmaatskappye het saamgestem dat hul wel ‘n verantwoordelikheid het teenoor die verbruiker ten opsigte van voedingvoorligting, maar beskou dit nie as uitsluitlik hul verantwoordelikheid nie. Ses en negentig persent van die verbruikers lees voedsel etikette (altyd of soms) wanneer hul aankope doen. Dit blyk dat die ouer verbruiker minder geneig is om die bestanddelelys te lees. Verbruikers is oorwegend bekommerd oor hartvatsiektes wanneer hulle voedselaankope doen. Vyf en negentig persent van die verbruikers stem saam dat voedselmaatskappye ‘n verantwoordelikheid het teenoor verbruikers ten opsigte van voedingvoorligting. Die verbruikers gee voorkeur aan die voedsel etiket en televisie as mediums vir voedingvoorligting, maar hul vertrou meestal op dokters en voedingkundiges om die voedingboodskappe oor te dra. Gevolgtrekking Om gedragsverandering by verbruikers mee te bring met die oog daarop om die toename in kroniese lewensstyl siektes aan te spreek, is dit essensiëel om die verbruiker toe te rus met die nodige kennis oor die voorkoming van kroniese lewenstyl siektes. Voedselmaatskappye behoort aktief betrokke wees by verbruiker opvoeding oor gesonde leef- en eetgewoontes. Kommunikasie ten opsigte van voedingvoorligting moet konsekwent wees en ‘n geїntegreerde benadering moet deur alle rolspelers gevolg word, insluitende voedselmaatskappye, die Departement Gesondheid en die Onderwysdepartement.

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Frente ao fenômeno da globalização e a crise econômica, as MPEs de alimentos no Peru foram obrigadas a procurar novas soluções para crescer e manter-se no mercado. Uma dessas soluções é a adoção de estratégias de inovação que se baseiam no desenvolvimento de novos produtos alimentícios com propriedades funcionais, ou seja, que beneficiam a saúde dos consumidores. Esta é uma característica diferencial que faz com que a MPE possa atingir uma vantagem competitiva no mercado. A presente pesquisa exploratória, do tipo estudo de caso, tem por objetivo central analisar os fatores que influenciam o processo de inovação em três MPEs de alimentos em Arequipa no Peru. Tais fatores foram avaliados dentro de seus ambientes internos (capacidades, recursos e competências essenciais) e em seus ambientes externos, como nos relacionamentos com os fornecedores, seus canais de distribuição e seus clientes. Os resultados apontam que as três MPEs em estudo, Delicias, Galletera e Silvia, desenvolveram alimentos inovadores baseados na diferenciação, usando produtos locais, através da incorporação de matérias-primas e insumos de caráter funcional, que beneficiam a saúde do consumidor e promovem a produção de recursos locais oriundos da região. / Facing the phenomenon of the globalization and the economic crisis, the micro and small food companies of Peru have been obliged to look for new solutions to grow and to remain in the market. One of these solutions is the adoption of innovative strategies based on the development of new functional products, which benefit the consumers’ health. This distinguishing characteristic allows the micro and small company to reach a competitive advantage in the market. The present exploratory research is developed through case studies whose objective is to analyze the factors that influence the process of innovation in three micro and small food companies in Arequipa, Peru. Such factors were evaluated in their internal environment (core competences, resources and abilities) and in their external environment, as the relationships with their suppliers, their distribution channels and their customers. This study concludes that the three evaluated micro and small companies Delicias, Galletera and Silvia developed innovative foods through differentiation, incorporating raw materials and other substances of functional character that benefit the consumers’ health and promote the production of native local resources of the region.

Frente ao fenômeno da globalização e a crise econômica, as MPEs de alimentos no Peru foram obrigadas a procurar novas soluções para crescer e manter-se no mercado. Uma dessas soluções é a adoção de estratégias de inovação que se baseiam no desenvolvimento de novos produtos alimentícios com propriedades funcionais, ou seja, que beneficiam a saúde dos consumidores. Esta é uma característica diferencial que faz com que a MPE possa atingir uma vantagem competitiva no mercado. A presente pesquisa exploratória, do tipo estudo de caso, tem por objetivo central analisar os fatores que influenciam o processo de inovação em três MPEs de alimentos em Arequipa no Peru. Tais fatores foram avaliados dentro de seus ambientes internos (capacidades, recursos e competências essenciais) e em seus ambientes externos, como nos relacionamentos com os fornecedores, seus canais de distribuição e seus clientes. Os resultados apontam que as três MPEs em estudo, Delicias, Galletera e Silvia, desenvolveram alimentos inovadores baseados na diferenciação, usando produtos locais, através da incorporação de matérias-primas e insumos de caráter funcional, que beneficiam a saúde do consumidor e promovem a produção de recursos locais oriundos da região. / Facing the phenomenon of the globalization and the economic crisis, the micro and small food companies of Peru have been obliged to look for new solutions to grow and to remain in the market. One of these solutions is the adoption of innovative strategies based on the development of new functional products, which benefit the consumers’ health. This distinguishing characteristic allows the micro and small company to reach a competitive advantage in the market. The present exploratory research is developed through case studies whose objective is to analyze the factors that influence the process of innovation in three micro and small food companies in Arequipa, Peru. Such factors were evaluated in their internal environment (core competences, resources and abilities) and in their external environment, as the relationships with their suppliers, their distribution channels and their customers. This study concludes that the three evaluated micro and small companies Delicias, Galletera and Silvia developed innovative foods through differentiation, incorporating raw materials and other substances of functional character that benefit the consumers’ health and promote the production of native local resources of the region.

Frente ao fenômeno da globalização e a crise econômica, as MPEs de alimentos no Peru foram obrigadas a procurar novas soluções para crescer e manter-se no mercado. Uma dessas soluções é a adoção de estratégias de inovação que se baseiam no desenvolvimento de novos produtos alimentícios com propriedades funcionais, ou seja, que beneficiam a saúde dos consumidores. Esta é uma característica diferencial que faz com que a MPE possa atingir uma vantagem competitiva no mercado. A presente pesquisa exploratória, do tipo estudo de caso, tem por objetivo central analisar os fatores que influenciam o processo de inovação em três MPEs de alimentos em Arequipa no Peru. Tais fatores foram avaliados dentro de seus ambientes internos (capacidades, recursos e competências essenciais) e em seus ambientes externos, como nos relacionamentos com os fornecedores, seus canais de distribuição e seus clientes. Os resultados apontam que as três MPEs em estudo, Delicias, Galletera e Silvia, desenvolveram alimentos inovadores baseados na diferenciação, usando produtos locais, através da incorporação de matérias-primas e insumos de caráter funcional, que beneficiam a saúde do consumidor e promovem a produção de recursos locais oriundos da região. / Facing the phenomenon of the globalization and the economic crisis, the micro and small food companies of Peru have been obliged to look for new solutions to grow and to remain in the market. One of these solutions is the adoption of innovative strategies based on the development of new functional products, which benefit the consumers’ health. This distinguishing characteristic allows the micro and small company to reach a competitive advantage in the market. The present exploratory research is developed through case studies whose objective is to analyze the factors that influence the process of innovation in three micro and small food companies in Arequipa, Peru. Such factors were evaluated in their internal environment (core competences, resources and abilities) and in their external environment, as the relationships with their suppliers, their distribution channels and their customers. This study concludes that the three evaluated micro and small companies Delicias, Galletera and Silvia developed innovative foods through differentiation, incorporating raw materials and other substances of functional character that benefit the consumers’ health and promote the production of native local resources of the region.

Background: Canadian youth obesity, and comorbidities, have paralleled trends in consuming nutrient-poor foods marketed by the food industry. In Canada, food marketing is largely self-regulated by the food industry under the Canadian Children’s Food and Beverage Advertising Initiative (CAI). Methods: Public television programming records benchmarked the volume of food advertising targeted to preschoolers, children, adolescents, and adults on Canadian television. Food advertising rates and frequencies were compared by age group, television station, month, food category, and company, using regression modelling, chi-square tests and principal component analysis. Results: Food advertising rates significantly differed by all independent variables. Fast food companies dominated advertising during adolescent-programming while food and beverage manufacturers dominated advertising during programming to all other age groups. CAI signatories contributed more advertising during children’s programming than non-signatories. Conclusion: Failings of self-regulation in limiting food advertising to Canadian youth demonstrate the need for statutory restrictions to rectify youth’s obesogenic media environments and their far-reaching health effects.