Panel session

Praise for THE NEW EMERGING-MARKET MULTINATIONALS One of Strategy and Business's Best Business Books of the Year book is a real eye-opener. It will forever change your assumptions about international economic competition and who the winners will be. -PHILIP KOTLER Kellogg School of Management and author of Winning at Innovation An insightful read-essential for those wishing to understand the evolution and growth of emerging-economy EMNCs and how they will reshape global market structures. -ANAND MAHINDRA, Vice Chairman and Managing Director, Mahindra Group, India As this timely book so insightfully points out, the rise of emerging-market multinationals is shifting the global competitive landscape and forcing us to think hard about growth, strategy, and talent equations. must-read for business leaders responsible for navigating today's global environment. -MUHTAR KENT, Chairman and Chief Executive Officer, The Coca-Cola Company book offers an array of fascinating examples and an interesting framework for stimulating thinking about EMNCs' strategic options. -PANKAJ GHEMAWAT, IESE Business School, and author of World 3.0 A must-read. The book is well researched and provides compelling case illustrations. I highly recommend it. -W. CHAN KIM, Professor, INSEAD; Codirector, INSEAD Blue Ocean Strategy Institute; and bestselling author of Blue Ocean Strategy is the future of global competition. You need to understand it if you aspire to be a player or if global markets are now a part of your strategy. -DAVID A. AAKER, Vice Chairman, Prophet, and bestselling author of Brand Relevance book gives a clear idea of the success formula of emerging-market multinationals by showing practical insights based on a deep understanding of EMNCs. This will help readers from any type of company structure their own growth strategies. -WONHONG CHO, Executive Vice President and Chief Marketing Officer, Hyundai Motor Company An excellent collection of ideas and examples that should inspire companies in emerging markets looking to build brands and markets anywhere. -BUSINESSWORLD About the Book: LG. HTC. Tata. Haier. Lenovo. Arcelik. Natura. From smartphones and computers to blue jeans and beer, companies from China, India, Taiwan, Mexico, Turkey, and other emerging markets are now winning leading market shares with their own-branded, high-quality products-rather than with poorly produced products sold under others' brand names. These emerging-market multinational companies (EMNCs) are giving the incumbent market leaders of North America, Western Europe, and Japan a run for their money in the areas of innovation, branding, and marketing. How have these small, under-resourced businesses come so far so quickly? And what can you learn from their strategies and tactics? Renowned experts in global branding and marketing, the authors of The New Emerging-Market Multinationals conducted an in-depth study of 39 EMNCs to reveal the innovative compete-from-below strategies and tactics fueling these companies' meteoric rise. The authors identify four strategies driving this growth: COST LEADERS leverage existing low-cost structures and large-scale volumes to extend their reach into developed markets. KNOWLEDGE LEVERAGERS tap their existing resources and knowledge of home consumers and the market to build branded businesses in other emerging markets.NICHE CUSTOMIZERS combine their cost advantages in manufacturing with newly developed low-cost R&D capabilities to develop customized niche-segment branded offerings in other emerging markets.GLOBAL BRAND BUILDERS use their low-cost manufacturing and R&D capabilities to build branded businesses in developed markets- but limit their focus to specific products and segments through a process of focused innovation. Whether you run an EMNC or a developedmarket company, deep knowledge of the strategies outlined here is an absolute necessity for competing effectively now and in the future. Don't get caught off guard by the new kids on the block-because today's EMNCs are determined to be tomorrow's market leaders.

"Winterflood, Brian Martin, (born 31 Jan. 1937), Founder, 1988, and President, 2009–17, Winterflood Securities Ltd (Managing Director, 1988–99; Chief Executive Officer, 1999–2002; Chairman, 2002–09); Chief Executive Officer, Winterflood Gilts, 1999–2002 (Managing Director, 1994–99); Chairman, Gilts and Securities, 2001–10" published on by Oxford University Press.

"Jordan, Anthony, (born 21 July 1957), television script writer and producer; Chief Executive Officer, Red Planet Pictures, since 2016 (Managing Director, 2005–16)" published on by Oxford University Press.

Economic impact of political barriers to cross-border acquisitions: An empirical study of CNOOC's unsuccessful takeover of Unocal

Organ Donation Breakthrough Collaborative

This paper presents survey results validating the theory of diffusion of innovation (DoI) (Rogers, 1962, 2003). We find that complexity, trialability, and observability exhibited correlation with innovation diffusion while the others do not. Innovation and technology have been long considered important drivers of organisational success. They are examined in the US Oil and Gas (O&G) industry. Rogers' (1962, 2003) theory of DoI is used in identifying and operationalising key variables that affect DoI. It broadens understanding of how the industry has responded to the presence of multiple, important new technologies and how the diffusion of these technologies can be explained by the application of the DoI model. Using primary data, the current study empirically tests DoI in the context of today's US O&G industry. The contribution of the current study to both researchers and practitioners, limitations, as well as suggestions for future studies are also provided.

Purpose Leveraging upper echelons theory, the authors explored how digital marketing capabilities (DMCs) of emerging market small and medium-sized enterprises (EM-SMEs) help develop international marketing agility (IMA), which mediates international market performance (IMP). We also tested the moderating effect of marketing experience and prior international experience of the top management team (TMT). Design/methodology/approach The present study employed a primary survey of Indian SMEs, collecting data from 225 chief executive officers (CEOs) of SMEs and their corresponding human resource departments. SmartPLS was then used to test the moderated mediation model and the corresponding hypothesis. Findings Findings from the Indian context suggest that EM-SMEs’ DMCs increase their IMA, which in turn enhances their IMP as they try to adapt to changing customer demand and competition in international markets. Furthermore, prior international experience and marketing experience of the upper echelon enhance their intention and ability to develop stronger DMC, which results in favorable IMP via IMA. Research limitations/implications The study has significant implications for the success of firms’ DMCs. Findings imply that such abilities can be developed if the upper echelon has a marketing background and international experience. Furthermore, DMCs can enhance firms’ IMP. Practical implications Our findings increase TMT awareness of how senior executives’ marketing experience can enhance digital marketing abilities and influence their firms’ IMP by enhancing IMA. Originality/value The study provides novel insights into the role of DMCs of SMEs in enhancing the IMP of firms by exploring the role of IMA as a mediator and upper echelon attributes as moderators.

"Pessina, Stefano, (born 4 June 1941), Executive Chairman, Walgreens Boots Alliance, since 2021 (Executive Vice Chairman and Chief Executive Officer, 2015–21)" published on by Oxford University Press.

Narrowing the gap between chief executive officer and worker pay, contributing to social and economic amelioration, harnessing the talents of a diverse workforce, addressing climate change, managing uncertain global economic and political dynamics, and leveraging advances in science and technology: Perhaps more than ever in history, these challenges demand that we recast our concept of what makes for effective business leadership. Leadership is best viewed not as a single person but as a process that is spread throughout the organization and considers a wide range of stakeholders. The dimensions aligned with this distributed leadership model include tenacity, judgment, communication skills, sensitivity to a wide array of stakeholders and external trends, emotional intelligence, the capacity to learn, moral virtue, humility, and the ability to create environments that inspire others. Approaches for learning these dimensions include formal education, on-the-job learning, and self-directed learning. Meeting the challenges business leaders face will demand that they think deeply about the legacy they wish to create for themselves and their organizations.

As airborne methane surveys of oil and gas systems continue to discover large emissions that are missing from official estimates1-4, the true scope of methane emissions from energy production has yet to be quantified. We integrate approximately one million aerial site measurements into regional emissions inventories for six regions in the USA, comprising 52% of onshore oil and 29% of gas production over 15 aerial campaigns. We construct complete emissions distributions for each, employing empirically grounded simulations to estimate small emissions. Total estimated emissions range from 0.75% (95% confidence interval (CI) 0.65%, 0.84%) of covered natural gas production in a high-productivity, gas-rich region to 9.63% (95% CI 9.04%, 10.39%) in a rapidly expanding, oil-focused region. The six-region weighted average is 2.95% (95% CI 2.79%, 3.14%), or roughly three times the national government inventory estimate5. Only 0.05-1.66% of well sites contribute the majority (50-79%) of well site emissions in 11 outof 15 surveys. Ancillary midstream facilities, including pipelines, contribute 18-57% of estimated regional emissions, similarly concentrated in a small number of point sources. Together, the emissions quantified here represent an annual loss of roughly US$1 billion in commercial gas value and a US$9.3 billion annual social cost6. Repeated, comprehensive, regional remote-sensing surveys offer a path to detect these low-frequency, high-consequence emissions for rapid mitigation, incorporation into official emissions inventories and a clear-eyed assessment of the most effective emission-finding technologies for a given region.

This article examines how oil and gas industry participants in Colorado reflect on the potential energy mix of the future. At a time when innovation is a dominant trope that casts entrepreneurs as agents who create dreams and craft worlds, providing the materials, technologies, and processes needed to decarbonize energy systems, my interlocutors also position themselves as experienced innovators. For them, petromodernity is a techno-scientific achievement that crystallizes the successful conjoining of wildcatter risk-taking, geoscientific knowledge, and engineering endeavour. While renewable energy sources now have widespread appeal among politicians, publics, and investors, these industry participants dismiss emerging energy transitions and renewable energy imaginaries. They mock and ridicule renewable energy sources, scorning them for being ‘factually impossible’ due to their lower energy densities relative to oil and gas. Turning to and mobilizing epistemologies of facts, they regard oil and gas as destined to enjoy great longevity. While they see their own industry as a harbinger of innovation, they deem renewable energy industries void of such potential. Exploring these mocking dismissals, this article shows how the oil and gas industry’s history and epistemes inform energy imaginaries and flourish in the championing of what I call ‘nostalgic innovation’. As such, I suggest that innovation is not only a key component in entrepreneurial capitalism, but also a powerful moral commentary on who is seen to deserve to play a key role in future configurations of life.

According to an American Petroleum Institute production waste survey reported on by P.G. Wakim in 1987 and 1988, the exploration and production segment of the US oil and gas industry generated more than 360 million barrels (bbl) of drilling wastes, more than 20 billion bbl of produced water, and nearly 12 million bbl of associated wastes in 1985. Current exploration and production activities are believed to be generating comparable quantities of these oil field wastes. Wakim estimates that 28% of drilling wastes, less than 2% of produced water, and 52% of associated wastes are disposed of in off-site commercial facilities. In recent years, interest in disposing of oil field wastes in solution-mined salt caverns has been growing. This report provides information on the availability of commercial disposal companies in oil-and gas-producing states, the treatment and disposal methods they employ, and the amounts they charge. It also compares cavern disposal costs with the costs of other forms of waste disposal.

We study how a CFO's risk‐taking incentives affect corporate hedging by utilising hand‐collected data from 2009 to 2019 on corporate hedging and managerial compensation for a sample of US oil and gas firms. The relative convexity of CFO equity compensation negatively affects the likelihood and extent of hedging. When the CFO and CEO have diverging risk‐taking incentives, the relative convexity of the CFO's equity payoff prevails over that of the CEO. This evidence underscores the primary role of the CFO in steering a firm's hedging strategy.

This article sets out to identify an appropriate hurdle rate range for commercial space resource development projects, should such an industry eventuate. There has been little consistency in the use of hurdle rates and discount rates in the evaluation of space resource projects proposed to date. The article uses two approaches to determine an appropriate hurdle rate for the economic evaluation of such projects. Firstly, the article reviews hurdle rate usage in three industries with parallels to a potential space resource industry – the mining industry, the oil & gas industry, and the aerospace industry. The venture capital sector is also considered. The article finds that there is limited direct reference to the hurdle rates used in these industries and therefore uses expected project IRR and corporate Cashflow Return on Investment (CFROI) as proxies to quantify hurdle rates in each industry. Secondly, the article develops a Risk Build Up Method (RBUM) to determine appropriate hurdle rates for hypothetical commercial space resource development projects by quantifying the potential commercial risk to which such projects could be exposed. The RBUM process correlates a commercial risk score quantified on a project by project basis with a hurdle rate risk premium scale to determine an appropriate hurdle rate for such projects. Finally, the article discusses discount rate treatment in the analogue industries, with a view to proposing a consistent approach to the use of discount rates in a potential space resources industry. The article finds that hurdle rates in the range of 25% could be appropriate for potential commercial space resource development projects, depending on the perceived risk of the project, and assuming a suitable legal/regulatory regime is in place. This hurdle rate range and the RBUM process could evolve over time should such an industry eventuate and ultimately mature. The article also proposes that a ‘standard’ industry discount rate of 10% be utilised in order to facilitate the comparison of project to project valuations, based on the discount rate convention for reporting requirements in the US oil & gas industry.

Shale oil and gas production areas are especially active in Texas. The Eagle Ford Shale in south central Texas contributes substantially to US oil and gas production; it has repeatedly been the focus of air quality studies due to its associated emissions. Among these emissions are hazardous air pollutants such as benzene, a known carcinogen. To monitor exposure to such compounds, we teamed up with local citizens in 2019 to begin a passive sampling study for hydrocarbons. The study tracked selected non-methane hydrocarbons at six locations throughout a busy central production area of the shale. A state air quality monitoring station allowed for a comparison exercise, and we report both the results of that exercise and the observations from various properties affected by the surrounding oil and gas exploration activities. The passive samplers accurately reflected mean to median ambient hydrocarbon levels despite high variability and skewness in the hourly measurements. Field sites either right next to oil and gas production pads, surrounded by more surface pads than other sites, or affected by an additional emission source showed higher exposure to selected hydrocarbons. Passive sampling shows promise to bridge the gap between centralized air monitoring and campaign-style mobile monitoring to evaluate hydrocarbon emissions and abundances. It is a cost-effective way to provide both spatial and temporal information on exposure levels.