Strategic Development Model in the Era of Globalization
Case Study: Purcari Wineries Public Company Limited
Keywords:
Globalization; growth opportunities; international strategies; business management; partnerships; performance; wine industry.
Abstract
To succeed in this new era, companies must take a more nuanced approach to identifying and creating growth opportunities. Globalization involves economic and industry integration with the rest of the world, removing restrictions on imports and foreign investment. Many firms go global and orient themselves more and more internationally, making firms’ search for foreign market opportunities necessary in order to survive in this era of globalization.
And more important to these firms it has need to adopt strategic decisions to try to succeed in international markets.
For the company we are studying the questions are: What factors determine entrepreneurial decision-making in the process of internationalization? What kind of strategies the firms need to formulate while going international? Did the strategies implemented make the company more profitable one?
References
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Retrieved from:
http://gtu.ge/Agro-Lib/%5bC._Michael_Hall,_Richard_Mitchell%5d_Wine_Marketing(Bokos-Z1).pdf
[16]. Menghini S. The new market challenges and the strategies of the wine companies. Wine Economics and Policy. 2015; 4(2): 75-77. Doi:10.1016/j.wep.2015.11.003
https://www.sciencedirect.com/science/article/pii/S2212977415000320
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http://seaopenresearch.eu/Journals/articles/MI_31_26.pdf
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https://hbr.org/1998/11/clusters-and-the-new-economics-of-competition
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https://libjournals.mtsu.edu/index.php/jsbs/article/view/449/427
[23] Dess GG, Lumpkin GT, Covin JG. Entrepreneurial strategy making and firm performance: Tests of contingency and configurational models, Strategic Management Journal. 1997, Oct; 18(9): 677-695.
[24]Hsueh L.,. Tu Y. Innovation and the operational performance of newly established small and medium enterprises in Taiwan, Small Bus. Econ. 2004; 23. Retrieved from: https://doi.org/10.1023/B:SBEJ.0000027663.84972.ac
https://link.springer.com/article/10.1023%2FB%3ASBEJ.0000027663.84972.ac
[25] Purcari W. Non-statutory Consolidated Financial Statements. 2014-2016
http://corporate.purcari.wine/static/projects/corporate.purcari.wine/dist/pdf/Non-statutory_Consolidated_Financial_Statements_2014_2015_2016.pdf
[26] Purcari W. Report and Consolidated Financial Statements; 2014-2016: 30. Retrieved from:
http://www.bvb.ro/infocont/infocont18/WINE_Consolidated_Financial_Statements_%202017_en.pdf
[27] Purcari Wineries PLc, Initial Public Offering; 2017. Retrieved from: http://corporate.purcari.wine/static/projects/corporate.purcari.wine/dist/pdf/Prospectus_for_the_Initial_Public_Offering.pdf
http://www.bvb.ro/Juridic/files/OfertaPurcari/Prospect%20IPO%20Purcari.pdf
[28] Purcari Wineries PLc .(***). Retrieved from: http://corporate.purcari.wine/en/page/investor-relations
[29] Producătorul de vinuri Purcari Wineries, din Republica Moldova, vine astăzi la Bursa București pentru o ofertă publică. O operațiune de piață care se poate ridica la aproape 275 milioane lei .(***). https://www.profit.ro/stiri/economie/producatorul-de-vinuri-purcari-wineries-din-republica-moldova-vine-astazi-la-bursa-bucuresti-pentru-o-oferta-publica-o-operatiune-de-piata-care-se-poate-ridica-la-aproape-275-milioane-lei-17767428
[30] Povestea Purcari, un business moldovenesc care a abandonat Rusia si a îmbrăţişat Europa. .(***). Retrieved from: https://www.wall-street.ro/articol/Companii/217165/povestea-lui-victor-bostan-si-a-grupului-purcari.html
[31] Güvenen O., Serbat H., Giraud-Héraud E., Pichery M. Wine Economics – Quantitative Studies and Empirical Applications, Palgrave Macmillan, Basingstoke; 2013. Retrieved from: https://www.palgrave.com/us/book/9781137289513
[32] Lombardi P., Bianco A. D., Freda R., Caracciolo F., Cembalo L.. Development and trade competitiveness of the European wine sector: A gravity analysis of intra-EU flows. Wine Economics and Policy. 2016; 5(1): 50-59. Doi:10.1016/j.wep.2015.12.002, https://www.sciencedirect.com/science/article/pii/S2212977416000028
[33] Eugenio Pomarici, Recent trends in the international wine market and arising research questions, Wine Economics and Policy. 2016; 5(1): 1-3. Doi:10.1016/j.wep.2016.06.001 https://www.sciencedirect.com/science/article/pii/S2212977416300059
[34] Situatii financiare consolidate pentru exercitiul financiar incheiat la 31 decembrie 2017. Retrieved from: http://corporate.purcari.wine/static/projects/corporate.purcari.wine/dist/pdf/Raportul_si_Situatii_Financiare_Consolidate_2017.pdf
[35] Decanter World Wine Awards (DWWA), 2016
http://awards.decanter.com/DWWA/2016/Producer?producerName=Purcari&producerId=141872&country=1613)< https://www.purcari.wine/pages/medalii
[36] https://www.wall-street.ro/articol/Companii/217165/povestea-lui-victor-bostan-si-a-grupului-purcari.html
[37] (***). Purcari Freedom Blend – Vinul Libertății – Lansare mondială. Kiev, Ucraina; 2015. Retrieved from: http://horizoncapital.com.ua/ro/news/purcari-freedom-blend-the-liberty-wine-launched-worldwide/
[38] (***). Vinăria Purcari lansează prima etichetă digitală din lume; 2017 http://www.jurnaluldeafaceri.ro/vinaria-purcari-lanseaza-prima-eticheta-digitala-din-lume/
[39] PURCARI WINERIES PUBLIC COMPANY LIMITED- Prospectus for inital public offering, Retrieved from: http://www.bvb.ro/Juridic/files/OfertaPurcari/Prospect%20IPO%20Purcari.pdf
[40] https://investestelabursa.ro/ipo-purcari-o-listare-cu-gust-nobil-la-pret-de-super-oferta/
[41]https://www.profit.ro/povesti-cu-profit/financiar/piata-de-capital/purcari-wine-pe-bursa-ca-o-companie-de-85-de-milioane-de-euro-apar-primii-investitori-franklin-templeton-si-fosta-charlemagne-capital-care-a-mai-investit-in-cathedral-plaza-si-medlife-17894730
[42] Lorenzo J. R., Rubio M. T., & Garcés, S. A., The competitive advantage in business, capabilities and strategy. What general performance factors are found in the Spanish wine industry? Wine Economics and Policy. Doi:10.1016/j.wep.2018.04.001. Retrieved from:https://www.sciencedirect.com/science/article/pii/S2212977418300206
[43] Welter C., Bosse, D.A., Alvarez S.A., The interaction between managerial and technological capabilities as a determinant of company performance: an empirical study of biotech firms., Int.J.Manag. 2013; 30(1): 272. Retrieved from:
https://scholar.google.com/citations?user=MMA9XWkAAAAJ&hl=en#d=gs_md_cita-d&p=&u=%2Fcitations%3Fview_op%3Dview_citation%26hl%3Den%26user%3DMMA9XWkAAAAJ%26citation_for_view%3DMMA9XWkAAAAJ%3AufrVoPGSRksC%26tzom%3D-180
https://ec.europa.eu/commission/sites/beta-political/files/reflection-paper-globalisation_ro.pdf;
[2] Ivanov, F. Factori de succes si impedimente in transferul de competente manageriale; 2014. Retrieved at: http://conferinta.academiacomerciala.ro/CD2014/articole/5/FACTORI%20DE%20SUCCES%20SI%20%20MANAGERIALE%20-%20Ivanov.pdf
[3] Furrer O. Corporate Level Strategy: Theory and Applications Routledge, London and New York , 2011, cited by Luis Ángel Guerras-Martín, Anoop Madhok, Ángeles Montoro-Sánchez,
The evolution of strategic management research: Recent trends and current directions, BRQ Business Research Quarterly. April–June 2014, 17(2): 69-76. Retrieved from:
https://www.sciencedirect.com/science/article/pii/S2340943614000188;
[4] Patriche D, Felea M., Anghel D. L., Antonescu E, Asandei M., Bălăşseanu M., et all. Comert si globalizare; 2008. Retrieved from: http://www.biblioteca-digitala.ase.ro/biblioteca/carte2.asp?id=283&idb;
[5] Paliu-Popa L. Globalizarea economiei şi internaţionalizarea afacerilor, Analele Universităţii “Constantin Brâncuşi” din Târgu Jiu, Seria Economie, 3/2009 Retrieved from: http://www.utgjiu.ro/revista/ec/pdf/2009-03/16_LUCIA_POPA_PALIU.pdf;
[6] Jarzabkowski, P., & Whittington, R. A Strategy-as-Practice Approach to Strategy Research and Education, Journal of Management Inquiry. 2008; 17(4): 282-286. Doi:10.1177/1056492608318150,
Retrieved from: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.878.1442&rep=rep1&type=pdf;
[7] Centre for the Promotion of Imports (CBI), market information,
Retrieved from: https://www.cbi.eu/market-information/wine/what-demand/
[8] Graetz F. Strategic thinking versus strategic planning: towards understanding the complementarities, Management Decision. 2002; 40(5): 456-462. Doi: https://doi.org/10.1108/00251740210430434;
[9] Johnson G., Scholes K., Wittington R. Exploring corporate strategy, 8th edition, Pearson Education Limited; 2008: 3 .
[10] Guerras-Marttn L. N., Madhok A., Montoro-Ssnchez N. The Evolution of Strategic Management Research: Recent Trends and Current Directions. Business Research Quarterly. SSRN Electronic Journal. 2013. Available at SSRN: http://dx.doi.org/10.2139/ssrn.2374845
[11] Rumelt R.P,. Schendel D.E, Teece D.J. (Eds.), Fundamental issues in strategy. A research agenda, Harvard Business School Press, Boston , 1994.
[12] Jeffs C. Strategic management, Sage Publications, Los Angeles; 2008
[13] McKillip, J. Need analysis: Tools for the human services and education, Sage Publications, Newbury Park, California; 1987.
[14] Lynch R., Strategic Management, 5th Edition, Financial Times/Prentice Hall, Harlow; 2008. Retrieved from: http://www.global-strategy.net/what-is-global-strategy/
[15] Michael Hall C, Mitchell R. Wine Marketing A practical guide, Butterworth-Heinemann, Elsevier Ltd., 2008
Retrieved from:
http://gtu.ge/Agro-Lib/%5bC._Michael_Hall,_Richard_Mitchell%5d_Wine_Marketing(Bokos-Z1).pdf
[16]. Menghini S. The new market challenges and the strategies of the wine companies. Wine Economics and Policy. 2015; 4(2): 75-77. Doi:10.1016/j.wep.2015.11.003
https://www.sciencedirect.com/science/article/pii/S2212977415000320
[17]. Newton S. K., Gilinsky A., Jordan, D. Differentiation strategies and winery financial performance: An empirical investigation, Wine Economics and Policy. 2015; 4(2): 88-97. Doi:10.1016/j.wep.2015.10.001, https://www.sciencedirect.com/science/article/pii/S2212977415000289
[18]. Matei Ş. Marketing implication in wine economy: literature review, Management intercultural. 2014. Vol. XVI, 2(31). Retrieved from:
http://seaopenresearch.eu/Journals/articles/MI_31_26.pdf
[19] Newton, S. K., Gilinsky, A., & Jordan, D., Differentiation strategies and winery financial performance: An empirical investigation. 2015,; 4(2): 88-97. Doi:10.1016/j.wep.2015.10.001, https://www.sciencedirect.com/science/article/pii/S2212977415000289
[20] M.E. Porter, Competitive Advantage: Creating and Sustaining Superior Performance, New York, NY: Free Press; 1985.
[21] Porter M.E. Clusters and the new economics of competition , Harv. Bus. Rev; 1998; 76(6): 77-90.
https://hbr.org/1998/11/clusters-and-the-new-economics-of-competition
[22] McGee, J., Shook, C., Responding to Industry Consolidation in Fragmented Industries: The Role of Capabilities in Small Business Survival, Journal Of Small Business Strategy. 2000; 11(2): 21-32. Retrieved from:
https://libjournals.mtsu.edu/index.php/jsbs/article/view/449/427
[23] Dess GG, Lumpkin GT, Covin JG. Entrepreneurial strategy making and firm performance: Tests of contingency and configurational models, Strategic Management Journal. 1997, Oct; 18(9): 677-695.
[24]Hsueh L.,. Tu Y. Innovation and the operational performance of newly established small and medium enterprises in Taiwan, Small Bus. Econ. 2004; 23. Retrieved from: https://doi.org/10.1023/B:SBEJ.0000027663.84972.ac
https://link.springer.com/article/10.1023%2FB%3ASBEJ.0000027663.84972.ac
[25] Purcari W. Non-statutory Consolidated Financial Statements. 2014-2016
http://corporate.purcari.wine/static/projects/corporate.purcari.wine/dist/pdf/Non-statutory_Consolidated_Financial_Statements_2014_2015_2016.pdf
[26] Purcari W. Report and Consolidated Financial Statements; 2014-2016: 30. Retrieved from:
http://www.bvb.ro/infocont/infocont18/WINE_Consolidated_Financial_Statements_%202017_en.pdf
[27] Purcari Wineries PLc, Initial Public Offering; 2017. Retrieved from: http://corporate.purcari.wine/static/projects/corporate.purcari.wine/dist/pdf/Prospectus_for_the_Initial_Public_Offering.pdf
http://www.bvb.ro/Juridic/files/OfertaPurcari/Prospect%20IPO%20Purcari.pdf
[28] Purcari Wineries PLc .(***). Retrieved from: http://corporate.purcari.wine/en/page/investor-relations
[29] Producătorul de vinuri Purcari Wineries, din Republica Moldova, vine astăzi la Bursa București pentru o ofertă publică. O operațiune de piață care se poate ridica la aproape 275 milioane lei .(***). https://www.profit.ro/stiri/economie/producatorul-de-vinuri-purcari-wineries-din-republica-moldova-vine-astazi-la-bursa-bucuresti-pentru-o-oferta-publica-o-operatiune-de-piata-care-se-poate-ridica-la-aproape-275-milioane-lei-17767428
[30] Povestea Purcari, un business moldovenesc care a abandonat Rusia si a îmbrăţişat Europa. .(***). Retrieved from: https://www.wall-street.ro/articol/Companii/217165/povestea-lui-victor-bostan-si-a-grupului-purcari.html
[31] Güvenen O., Serbat H., Giraud-Héraud E., Pichery M. Wine Economics – Quantitative Studies and Empirical Applications, Palgrave Macmillan, Basingstoke; 2013. Retrieved from: https://www.palgrave.com/us/book/9781137289513
[32] Lombardi P., Bianco A. D., Freda R., Caracciolo F., Cembalo L.. Development and trade competitiveness of the European wine sector: A gravity analysis of intra-EU flows. Wine Economics and Policy. 2016; 5(1): 50-59. Doi:10.1016/j.wep.2015.12.002, https://www.sciencedirect.com/science/article/pii/S2212977416000028
[33] Eugenio Pomarici, Recent trends in the international wine market and arising research questions, Wine Economics and Policy. 2016; 5(1): 1-3. Doi:10.1016/j.wep.2016.06.001 https://www.sciencedirect.com/science/article/pii/S2212977416300059
[34] Situatii financiare consolidate pentru exercitiul financiar incheiat la 31 decembrie 2017. Retrieved from: http://corporate.purcari.wine/static/projects/corporate.purcari.wine/dist/pdf/Raportul_si_Situatii_Financiare_Consolidate_2017.pdf
[35] Decanter World Wine Awards (DWWA), 2016
http://awards.decanter.com/DWWA/2016/Producer?producerName=Purcari&producerId=141872&country=1613)< https://www.purcari.wine/pages/medalii
[36] https://www.wall-street.ro/articol/Companii/217165/povestea-lui-victor-bostan-si-a-grupului-purcari.html
[37] (***). Purcari Freedom Blend – Vinul Libertății – Lansare mondială. Kiev, Ucraina; 2015. Retrieved from: http://horizoncapital.com.ua/ro/news/purcari-freedom-blend-the-liberty-wine-launched-worldwide/
[38] (***). Vinăria Purcari lansează prima etichetă digitală din lume; 2017 http://www.jurnaluldeafaceri.ro/vinaria-purcari-lanseaza-prima-eticheta-digitala-din-lume/
[39] PURCARI WINERIES PUBLIC COMPANY LIMITED- Prospectus for inital public offering, Retrieved from: http://www.bvb.ro/Juridic/files/OfertaPurcari/Prospect%20IPO%20Purcari.pdf
[40] https://investestelabursa.ro/ipo-purcari-o-listare-cu-gust-nobil-la-pret-de-super-oferta/
[41]https://www.profit.ro/povesti-cu-profit/financiar/piata-de-capital/purcari-wine-pe-bursa-ca-o-companie-de-85-de-milioane-de-euro-apar-primii-investitori-franklin-templeton-si-fosta-charlemagne-capital-care-a-mai-investit-in-cathedral-plaza-si-medlife-17894730
[42] Lorenzo J. R., Rubio M. T., & Garcés, S. A., The competitive advantage in business, capabilities and strategy. What general performance factors are found in the Spanish wine industry? Wine Economics and Policy. Doi:10.1016/j.wep.2018.04.001. Retrieved from:https://www.sciencedirect.com/science/article/pii/S2212977418300206
[43] Welter C., Bosse, D.A., Alvarez S.A., The interaction between managerial and technological capabilities as a determinant of company performance: an empirical study of biotech firms., Int.J.Manag. 2013; 30(1): 272. Retrieved from:
https://scholar.google.com/citations?user=MMA9XWkAAAAJ&hl=en#d=gs_md_cita-d&p=&u=%2Fcitations%3Fview_op%3Dview_citation%26hl%3Den%26user%3DMMA9XWkAAAAJ%26citation_for_view%3DMMA9XWkAAAAJ%3AufrVoPGSRksC%26tzom%3D-180
Published
2018-12-10
How to Cite
BIRSAN, M. (2018). Strategic Development Model in the Era of Globalization. LUMEN Proceedings, 6(1), 113-133. https://doi.org/10.18662/lumproc.67
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Teritorial Development and Sustainable Business
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