Journal archive
Industry market |
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The article deals with the problem of a limited access to the venture financing for the early stage
technology startups (so called «Death Valley» companies) which results in the industry monopolization
by several large players despite a significant economic potential of alternative technology
solutions and niche products. The author demonstrates that venture funds maximizing the return
on their investments typically prefer to invest only in potential market leaders. While following such
investment strategy the investors typically use a set of standard operational KPIs which might
inadequately forecast the future development of the business. Besides the investor’s expectation
with respect to the anticipated market structure and therefore the advantages of the leader’s position
vs. the followers might be inaccurate. However, given that early stage startups have almost
no access to alternative sources of funding, the strategies of venture investors might result in the
depletion of smaller players and eventually technology monopolization, which has been proved by
several examples on the Russian internet market. The problem might escalate sue to the significant
influence of investor’s sentiment (i. e. the expert opinion of other venture market’s players on the
project’s potential) on the venture fund’s decision-making process.
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Antitrust regulation |
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The article investigates the question on Individual circumstances of administrative responsibility
for offences of Antimonopoly legislation. According to the Code about administrative offences of
the Russian Federation the rules on liability for violation of Antimonopoly legislation are differ from
administrative responsibility for other offences. That is why the author of this article to assume that
it is a separate species of responsibility.
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The article discusses the problem of choosing time interval for the product market analysis for the
purposes of antitrust investigations.
Decisions of the Antimonopoly body in cases concerning violations of the Antimonopoly legislation
in some cases depend significantly on time frame choice for the analysis of the product market.
The current Antimonopoly legislation clauses concerning the issue have two drawbacks.
The first drawback is ambiguity of the wording “ insignificance of the market participants share
change within the interval analysis».The second is the requirement that all parameters of the market
correspond with the same time interval
The objective of this article is to propose and explain an algorithm of selecting multiple time intervals
for the product market analysis, which would allow to eleminate regulatory drawbacks.
The main idea of the proposed algorithm is as follows. Product market analysis, which is the object
of antitrust investigation, may span multiple time intervals, if within each of these intervals parameters
that allow for distinguishing the given market from all other markets remain unchanged.
Implementation of this idea is based on the conceptual model of the product market that embraces
several key parameters of the market. This conceptual model enables comparison of the market
that existed in a particular time interval and was an object of the antitrust investigation with another
market, which also existed in past, but at a different time period.
If the conceptual models of the two markets coincide it is suggested the market analysis should
include both time intervals. In theory, there may be several such time intervals.
Based on the conceptual model of the market a fundamentally new method to assess stability of
participants’ market shares over time was elaborated.
This method eliminates inherent ambiguity of “ insignificance of the market participants share
change within the interval analysis» clause.
The final part of the article discusses a number of interrelated issues: necessity to include several
time intervals in the base market analysis, different interpretations of the»optimal duration of the
market analysis period»,conceptual model advantages as opposed to the verbal market model,
practical applicability of the proposed method to assess stability of participants’ market shares.
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Соблюдение требований антимонопольного законодательства
требует правильного понимания антимонопольных запретов и отделения допустимых
практик от недопустимых. Именно поэтому
экономический анализ имеет огромное значение для применения антимонопольного
законодательств, в том числе и при наложении антимонопольных санкций, и опять же,
именно поэтому работа антимонопольного ведомства должна базироваться на повышении качества экономического анализа и применении наиболее эффективных
и продвинутых его методов.
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Competitive advantages |
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The slowdown in the growth of the market increases competition among the companies of the IT
sphere. It makes market players create new competitive advantages.
Small innovative companies bring large input in the development of IT industry. They design and
launch new creative ideas. However such companies take high risk of failure, caused by different
factors. It is essential for economy to maintain such companies. That is why it is essential for
them to understand how to get a sustainable competitive advantage in the turbulent environment.
Surveys show that managerial skills and know-how are the strongest sustainable competitive advantages
for such companies.
Small innovative companies from IT sphere in Nizhny Novgorod were studied in 2013. Their sustainable
competitive advantages were analyzed. Findings show peculiarities of such an activity for
new companies in this sphere; it can allow them to be more competitive and to occupy stronger
position on the market.
Nizhny Novgorod was chosen for research due to high level of socio-economic and innovation
development indicators. Findings are based on the structured interviews with representatives of
15 small IT companies in Nizhny Novgorod.
Small innovative companies from IT sphere in Nizhny Novgorod pay more attention to the product
diversification based on the quality increase of client service. Clients are the most useful source
of information in innovation process and in product adaptation. Personnel as key resource are attracted
from competitors by interesting projects. Informal environment within the company is used
for retaining key staff. Companies invest in designing of new product. In that case an image and
reputation of the company make stronger the sustainability of its competitive advantage.
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Сompetitive actions |
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The article reveals the variety of types of benchmarking relationships. Based on criteria of «number
of participants» and «structure of benchmarking» authors identify: active and passive positions,
role function of benchmarking participants, types of multilateral benchmarking relations.
The authors note the specificity of determining the object of benchmarking and emphasize dependence
of the stages of benchmarking from industry content of benchmarking object.
The paper defines benchmarking as an combination of competitive action for the identification and
implementation of new competitive actions. The paper reveals elements of the system of management
of competitive action that could been using as an objects of benchmarking.
The authors propose to use a special form of mixed benchmarking — benchmarking of competitive
activities of companies in the competitive disposition, and identify factors providing positional
superiority over rival in the competitive disposition.
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The article deals with the system of management of competitive action. The author describes the
place of the competitive action management in the overall enterprise management system, consistently
reveals all the main components of competitive action management, such as: competitive
analysis and audit tools of competitors, target planning of competitive action, the establishment
of competitive dispositions, predicting the response of competitive action, the selection of competitive
«field», resource and organizational providing of competitive action, the control of execution
of competitive actions, the competitive motivation.
The author describes a typical set of techniques of simple and weighted comparison of competitors,
suggests ways of formation of vectors of competitive differences, methods of making a competitive
maps of market, and a number of other instruments of competitive management.
The article also describes the characteristics of competitive actions that are meaningful in their
planning phase: effectiveness, strength, quality, speed, intensity, stability of competitive action.
The author also describes the main areas of competitive motivation of employees of the company:
strengthening of personal competitiveness, inspiration of competitive self-management and competitive
self-motivation.
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