Problems of Finnish companies entering the Russian market and operating in Russia
- Authors: Starikova A.Y.1, Ermakova N.A.1
-
Affiliations:
- Saint-Petersburg State University of Economics
- Issue: Vol 7, No 3 (2020)
- Section: Articles
- URL: https://journals.rudn.ru/in-econ/article/view/49138
- ID: 49138
Cite item
Full Text
Abstract
I In the article, the authors consider the cases of three Finnish concerns ("Fazer," "Fortum," "YIT") from various industries that have been successfully operating on the Russian market for a long time. The study reveals how companies managed to adapt to market conditions when entering it, and then form it in accordance with their business culture and establish themselves as leaders. The authors show how globalization and its consequences can affect the activities of companies. Separately, the article identifies sanctions and assesses their impact five years after the introduction. The results of the work also reflect the prospects for the further development of concerns in the Russian market.
About the authors
Anastasia Yurievna Starikova
Saint-Petersburg State University of Economics
Author for correspondence.
Email: st_anastasia.y@mail.ru
A third-year student majoring in "Foreign Regional Studies: Foreign Europe," Faculty of Humanities, St. Petersburg State University of Economics
191023, Saint-Petersburg, Sadovaya St., 21Natakiya Aleksandrovna Ermakova
Saint-Petersburg State University of Economics
Email: nyermakova@yandex.ru
Candidate of Economic Sciences, Associate Professor, Department of Regional Economics and Environmental Management, St. Petersburg State University of Economics
191023, Saint-Petersburg, Sadovaya St., 21References
- Vorobyova I., Sutyrin S. Krupnye finskye kompanyy na rossiyskom rynke [Developed Finnish companies on the Russian market]. Sovremennaya Evropa, 2019, no.3, pp. 125-138.
- Bisnes s finskoy DNK [Business with Finnish DNA]. Available at: https://www.fontanka.ru/longreads/finbusiness/ (accessed 5 April 2020).
- Perspektivy vetroenergeticheskogo rynka v Rossii [Prospects for the wind energy market in Russia]. Available at: https://library.fes.de/pdf-files/bueros/moskau/13475.pdf (accessed 13 April 2020).
- Finskie kompanii prishly v Rossiyu chtoby ostatsya [Finnish companies come to Russia to stay]. Available at: https://interaffairs.ru/jauthor/material/2006 (accessed 6 April 2020).
- Linninkov A. Vliyanie mezhdunarodnyh sankzyi na deyatelnost inostrannyh kompaniy v Rossii [Impact of international sanctions on foreign companies in Russia]. Vestnik finansovovo universiteta, 2017, no.3, pp. 141-148.
- Fortum v Rossii [Fortum in Russia]. Available at: www.fortum.ru/o-nas/kompaniya/fortum-v-rossii (accessed 10 April 2020).
- Chernomorets A. Osnovnye strategii vyhoda zarybezhnyh kompaniy na rossiysky rynok [Main strategies for foreign companies entering the Russian market] Available at: https://cyberleninka.ru/article/n/osnovnye-strategii-vyhoda-zarubezhnyh-kompaniy-na-rossiyskiy-rynok/viewer (accessed 3 April 2020).
- Fazer Group official website. Available at: www.fazergroup.com/ru/ (accessed 7 April 2020).
- Fortum in Russia. Available at: http://apps.fortum.fi/gallery/Fortum_in_Russia_EN.pdf (accessed 10 April 2020).
- Kaartemo V., Pelto E. Translation Mechanisms of International Market Shaping: The Transformation of the St. Petersburg Bread Market from 1997–2007. Journal of East-West Business, 2017, vol. 23, no. 3, pp. 260-282. doi: 10.1080/10669868.2017.1313802
- Rautio V., Zimin D. The internationalization of Finnish companies: the Russian connection. Polar Geography, 2012, vol. 35, no. 2, pp. 117-134. doi: 10.1080/1088937X.2012.666767
- YIT Group official website Available at: www.yitgroup.com/en (accessed 16 April 2020).
Supplementary files
