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O V O K g L n i g r SKO e m E r o f e t u t i t Ins s e i d u t S t e k Mar ) S ons i M t a (IE z i n a g r do n a s l a u d i v di ia n s i s u g R n i l n b i a s n E ntier o r f r i e h t e to advanc ts e k r a m g n ergi m e n i d n a CONOMICSFO MAKERS ANALYTICS DECISION S E I D U T S T KE RTH A M GROW IMPLICATIONS CONNECT PLATFORM IN M A N A TGEGRATION EMENT G N I G R E M E R TEGY STRA S S E N I S U B INNOVATION IMPACT CHANGE O U T R E A C HE CTUAL TE RUSSIA THINK TANKL DIGITA EAST SUCCESS SUSTAINABILITY O I N ST I T U INTELLE AEDUSCAITIAON E R S L E AD MARKETS HUMAN C APITAL SKOLKOVO CHINA CHOICE SKOLKOV ST A K E H O L D E R S E R A E W O H W SKOLKOVO institute for Emerging Market Studies (IEMS) is the oldest think tank within Moscow School of Management SKOLKOVO, the largest privately owned business school in Russia. Since 2008, IEMS has produced over 60 research briefs on the economic, financial, strategic and operational issues impacting the policies and businesses of Russia and fast-moving markets around the world. Its team of experts has conducted numerous research and consulting projects for both public and private sector organizations, published impactful articles in top-tier academic and business journals, contributed to high-profile international and regional forums and written a top-ranked management book identifying the traits of successful breakout firms in the BRICS. Alexey KALININ, SKOLKOVO IEMS Academic Director: “ ________ ________ The world has never been as dynamic as today: technological disruptions, demographic shifts, economic turbulence and political unrest bring challenges of unprecedented scale. Who will respond to these challenges? At SKOLKOVO Business School we strongly believe that it is emerging markets’ time to take the lead and to re-launch global economic growth. Our team is here to help you develop better strategies for success in emerging markets and to benefit from insights on their development in the past and the future. ________ ________ The IEMS team is comprised of experienced professionals with more than 100 years of combined experience in global business, consultancy, academia and applied research. Members of the team collectively speak 13 languages and have worked or lived in 11 countries. The diversity of the team brings an unparalleled range of opinions and enriches the Institute’s expertise in its core research streams. O W L E DGE N K D N A I NS I GH T S U O R O G I R U C AT I O N CH D R E A E D S E E S R A E DGE R I E N C E- B E P X E C U T T I N GD N A NR I C HE D E H C R A E RES ” INSTITUTE FOR EMERGING MARKET STUDIES 1 2 INSTITUTE FOR EMERGING MARKET STUDIES L A N O I RE G S E I D U T S We focus on increasingly important but under-studied global macro regions – Asia, Eurasia, the Middle East and the BRICS, as well as on the phenomenon of economic growth in general. We conduct complex analysis of regional context, combining academic knowledge with business expertise, as well as produce analytical papers and education courses for business and public sector strategists. Ruben VARDANYAN, Founding Partner, Vice-Chairman of the International Advisory Board of the Moscow School of Management SKOLKOVO, Chairman of SKOLKOVO IEMS Supervisory Board: “ ________ ________ Twenty years ago, nobody could have imagined that in 2015 the combined GDP of the top seven emerging markets could exceed that of the G7 countries. These markets offer both a great opportunity and a major challenge for any business. IEMS analyzes the dynamics of emerging global regions where Russia's political and economic interests intertwine - Northeast Asia, Eurasia, BRICS and the Middle East - to educate strategists and to enable business strategies in these markets. ________ ________ ” Research areas and projects: Asia With 30 percent of the world's land area, 60 percent of the global population, and the highest economic growth rate, today Asia is the most important emerging market. However, the region still holds a comparatively low place in the business priorities of Russia due to a lack of understanding of Asia’s dynamics. Eurasia The ties between Russia and the countries of Greater Eurasia determine the special need for analyzing the context of the region, including regional integration projects. Islamic World Islamic World’s expansion beyond the turbulent Middle East – to South and South-East Asia, Africa and Eurasia - creates both opportunities and challenges for business. Russia, combining both Christian and Islamic historical roots, is still a major political and cultural factor in the Muslim World and is able to share its learnings with other regions. The phenomenon of Emerging Markets and their impact on global growth It may be difficult to believe now, but the phenomenon of “emerging markets” did not exist – or at least, was not talked about – just some 30 years ago. Global growth has transformed dramatically in its geography, structure, social and political impact in half a generation. At IEMS we study the phenomenon of growth and emergence in order to advise global and regional policy and business decision makers on the effective development strategies that lead to higher productivity, competitiveness, sustainability and social cohesions. Soft Power Both developed and emerging markets’ attractiveness is based not only on macroeconomic data, but also on more abstract factors like appeal and persuasion. IEMS studies the Soft Power of emerging markets and its influence on global trade, investment, immigration and education flows. For more information please contact: [email protected] INSTITUTE FOR EMERGING MARKET STUDIES 3 CHINA ST U D I E S In China, the fundamental barrier to successful business is less about identifying the opportunity and more about the inability to execute the plan more effectively than others. One’s own management team, the team’s relationship with corporate headquarters, the role of and relationship with local partners— all play a key role. The SKOLKOVO China Studies Lab provides expertise for business in three dimensions: Chinese culture, economy and politics. In 2015 the lab launched a first-of-a-kind breakthrough educational program in Russia dedicated to starting up and scaling business in China and with Chinese. Stanislav VOSKRESENSKY, Deputy Minister of Economic Development of the Russian Federation: “ ________ ________ Russia and China are enhancing their collaboration in the political and economic domains. In this environment Russian companies are exploring opportunities for promoting their trade and commercial interests in China and Asia-Pacific. I am sure that SKOLKOVO’s efforts in China related to research and education will help Russian business leaders to acquire knowledge and skills to work with Chinese business partners, get acquainted with Chinese culture and business etiquette, and build effective cooperation in order to launch and promote joint projects. ________ ________ ” Research areas and projects: Chinese reforms quarterly The China Studies Lab conducts quarterly analysis of strategic initiatives made within the framework of each reform announced at the beginning of 2013. Additional research under this regular work focuses mainly on financial system reform and innovation industry development. China media digest To get a better understanding of business partners, one should be aware of political, social and economic trends in the counterpart’s country. It is particularly crucial for China where cultural peculiarities intersect with language specificity. In that respect, the China Studies Lab every two weeks provides analysis of major Chinese media articles and blogs. The Eurasian Economic Union and the Silk Road Economic Belt In May 2015 leaders of Russia and China signed an agreement on cooperation between the Eurasian Economic Union and the Silk Road Economic Belt. This document determines long-term Russian-Chinese (as well as Central Asian) political and economic cooperation. The China Studies Lab conducts a series of research in this field. Global Strategies of Russian and Chinese Mid-Sized Firms Together with Global strategies Lab we research international strategies of mid-sized Russian and Chinese firms from the non-resource industries. Research results contribute to the educational programs of the Moscow School of Management SKOLKOVO as well as gives practical insights into the real work of Chinese companies. Cross border trading Cross border trading traditionally plays a vital role in the bilateral cooperation between Russia and China. In line with economic transformation within both countries, models and quality of this process have dramatically changed. The China Studies Lab, in cooperation with its Far Eastern partners, provides crucial insights into this process for business. 4 INSTITUTE FOR EMERGING MARKET STUDIES E L B A N I A T S SU B A L S S E BUS I N SKOLKOVO Sustainable Business Lab is a center of expertise aimed at conducting problem-oriented interdisciplinary research, with a focus on business models that combine economic, environmental and social dimensions. Its primary goal is to promote a sustainability agenda in Russian and CIS markets through extensive outreach of research results and education of a new generation of responsible business leaders. Unilever is SKOLKOVO Sustainable Business Lab’s founding partner and strategic sponsor. Andrei SHARONOV, Dean of the Moscow School of Management SKOLKOVO: “ ________ ________ Sustainability has proven itself as a value-creating concept that has been applied by global business and driven by leading business schools. In Russia, it is just starting to gain ground. We believe that it is crucial to demonstrate to managers and entrepreneurs in Russia that embedding sustainability practices in their businesses is not only about doing good for society and being responsible, but also is a way to build more efficient and profitable businesses. ________ ________ ” Research areas and projects: Infrastructural, institutional and informational barriers Infrastructural, institutional and informational barriers hamper full-scale implementation of sustainable strategies and business models in emerging markets. Our goal is to study real cases of global corporations operating in Russia and other countries, define major barriers for implementation of sustainable practices and address the issues together with the Lab’s partners. Sustainable agriculture Sustainable agriculture area aims to identify approaches to unlock the full potential of agriculture in Russia and other emerging markets through implementing sustainable principles across the whole value chain. Sustainable forestry Russia holds over 20 percent of the world’s total forest resources, but lags behind some developing countries in terms of technological development, level of productivity and application of sustainable approaches. We study international and local sustainable forestry practices and outline real life cases when sustainable business models work in Russia. Sustainable cities Russian cities are demonstrating a rising concentration of sustainable initiatives and business cases, but still are placed behind the average in international urban sustainability rankings. How can they become a platform for eco-minded citizens and sustainability-related infrastructure as well as attract responsible business? Sustainable leadership Russian entrepreneurs are starting to choose sustainability as a new market niche, but it is not a widespread trend yet. Myths about sustainability make business leaders skip this value-creating concept and prevent development of small and medium-size enterprises. The project goal is to find, study and promote selected 15 success stories of Russian small and medium-size sustainability-based businesses. For more information please contact: [email protected] INSTITUTE FOR EMERGING MARKET STUDIES 5 N O I T A V O N N I T U DIES S L A T I AND DIG We research the effects of new technologies, including the impact of digital transformation on living environments, conventional industries and corporations, personal leadership and teamwork, with a focus on emerging markets, especially the BRICS countries. Our aim is to help the industry players, policy makers and opinion leaders to approach innovations and digital issues through informed discussions based on research that leads to targeted and balanced decision-making. Vladimir PREOBRAJENSKY, SKOLKOVO IEMS Research Mentor, Member of Moscow School of Management SKOLKOVO Academic Board: “ ________ ________ Digital Wind is bringing largescale disruption to business operations all around the world and challenging conventional ways of strategic thinking. Thanks to technology, It was never as easy to build a billiondollar company as today, but context and markets were never as compleх and competitive as today, either. It is critical for business leaders and strategists to understand how they can create and implement innovative business models that can grow quickly and sustain themselves. ________ ________ ” 6 INSTITUTE FOR EMERGING MARKET STUDIES Research areas and projects: Innovation Ecosystems of Emerging Markets Innovative development is the tool to advance national economies and achieve new levels of social and economic success. Yet, we see certain patterns in the innovative capabilities of specific countries that are defined by their ecosystems – the combination of institutions, competences, aspirations and exchanges with the rest of the world. Historical path dependencies play an important role in defining the opportunities and limitations of innovations in a given country. At IEMS we study the innovation ecosystems of Russia and other countries of BRICS with the aim of advising policy and business decision makers on the possibilities of cooperation, investment and trade in innovations. Finance of the Future Finance is the backbone of modern social and economic systems, yet it is quickly evolving in the modern world. We study three aspects of this transformative evolution: Inclusion, Digitalization and Re-institutionalization, which includes the involvement of new social groups and types of transactions, development of channels and back office instruments, advent of new market players and relevant regulatory approaches. Our special areas of focus are microfinance, parallel banking, including Islamic finance, cashless infrastructure and products, effective holistic regulatory concepts and practices. For more information please contact: [email protected] [email protected] GL OB A L S E I G E S T RAT We study management and business practices of companies in emerging markets and their strategies in going global. Our desire is to contribute to contemporary international management and be a valuable source of new management thinking and theory. The knowledge we create is envisioned to be a main reference point not only for practitioners in emerging countries planning to expand internationally but also for companies from the developed world looking to better understand the rising new champions. Karl JOHANSSON, Chairman of the Board of Directors of Russia’s Analytical Credit Rating Agency Chairman of SKOLKOVO IEMS Management Committee: “ ________ ________ In theory, almost any company can benefit from international markets but only few succeed in putting theory into practice. Execution matters. IEMS studies how international strategies in emerging and developed markets work in practice and brings this knowledge to the SKOLKOVO lecture hall. We are here to inspire Russian business leaders to go global and help them create their own working international strategies. ________ ________ ” Research areas and projects: “Selected 15: Winning Strategies of Russian Entrepreneurial Champions” This report uncovers the lesser-known side of Russian business: the entrepreneurial stratum of dynamic, innovative and successful companies in the nonoil sector. It was a major contribution to the “Unknown Russia: Powered by Entrepreneurs” report produced by the World Economic Forum’s Global Agenda Council on Russia. “Global Strategies of Russian and Chinese Mid-Sized Firms” This research studies characteristics of mid-sized Russian and Chinese firms working in global markets, their trajectory in going global and how they differ. As Sino-Russian collaboration is on the rise, special attention of the research is dedicated to studying strategies of Russian firms doing business with China and Chinese firms doing business with Russia. “Global Niche as a Globalization Strategy” Globalization is not only about large companies. By studying mid-market firms playing in global niches, this stream of research aims to demonstrate just this. The study will result in a specialized educational program for mid-sized companies expanding internationally. For more information please contact: [email protected] INSTITUTE FOR EMERGING MARKET STUDIES 7 S R E N T R A P OUR 8 INSTITUTE FOR EMERGING MARKET STUDIES About SKOLKOVO Business School: The Moscow School of Management SKOLKOVO, one of the leading private business schools in Russia and the CIS, was founded in 2006 by members of the business community. The school’s founding partners are 10 Russian and multinational firms and 11 individuals, each a leader of Russian business. The educational offerings of the Moscow School of Management SKOLKOVO include programs for businesses at any stage of development – from startups to major corporations entering international markets. The Moscow School of Management SKOLKOVO also serves as a hub of expertise drawing those who place bets on Russia and work in markets with fast-changing economies [email protected] There is an emerg always ing marke t Novaya Ul. 100, Skolkovo Village, Odintsovsky District, Moscow Region, 143025, Russia Phone: +7 495 539 3003