Strategy for the Development of Greek Enterprises

School of Social Sciences Master in Business Administration Postgraduate Dissertation The international operations of Greek dairy industry - The case study of FAGE Antonopoulos Athanasios Supervisor: Tsinopoulos Christos Patras, Greece, September 2018 Theses / Dissertations remain the intellectual property of students (“authors/creators”), but in the context of open access policy they grant to the HOU a non-exclusive license to use the right of reproduction, customization, public lending, presentation to an audience and digital dissemination thereof internationally, in electronic form and by any means for teaching and research purposes, for no fee and throughout the duration of intellectual property rights. Free access to the full text for studying and reading does not in any way mean that the author/creator neither shall allocate his/her intellectual property rights, nor shall he/she allow the reproduction, republication, copy, storage, sale, commercial use, transmission, distribution, publication, execution, downloading, uploading, translating, modifying in any way, of any part or summary of the dissertation, without the explicit prior written consent of the author/creator. Creators retain all their moral and property rights. The international operations of Greek dairy industry - The case study of FAGE Antonopoulos Athanasios Supervising Committee Supervisor: Co-Supervisor: Tsinopoulos Christos Theotokas Ioannis HOU HOU Patras, Greece, September 2018 Athanasios Antonopoulos, The international operations of Greek dairy industry – The case study of FAGE Acknowledgements I would like to thank my supervisor Tsinopoulos Christos for his guidance in the completion of my dissertation. Postgraduate Dissertation iv Athanasios Antonopoulos, The international operations of Greek dairy industry – The case study of FAGE Abstract This thesis has examined the case of FAGE and how it works in international markets. It is easy to understand that in the current economic climate the only way out for a business is to operate in international markets. This work was based on qualitative research done on a company executive as well as on data collected by the company. The analysis has shown that the company is based on a combination of direct foreign investment in the main markets and local partners in smaller markets. The company is also trying to be flexible and to respond directly to challenges (such as relocating to Luxembourg). Work closes with the proposal for future research that should be done in a larger sample and with more businesses. Keywords FAGE, international strategies, strategy, foreign direct investment. Postgraduate Dissertation v Athanasios Antonopoulos, The international operations of Greek dairy industry – The case study of FAGE Περίληψη Αυτή η διπλωματική εξέτασε την περίπτωση της ΦΑΓΕ και το πως λειτουργεί στις διεθνείς αγορές. Είναι εύκολα κατανοητό ότι στην παρούσα οικονομική συγκυρία η μόνη διέξοδος για μια επιχείρηση είναι το να δραστηριοποιηθεί στις διεθνείς αγορές. Η παρούσα εργασία βασίστηκε σε ποιοτική έρευνα που έγινε σε στέλεχος της επιχείρησης καθώς και σε στοιχεία που έχουν συλλεχθεί από την εταιρεία. Η ανάλυση έδειξε ότι η εταιρεία βασίζεται σε ένα συνδυασμό Άμεσων Ξένων Επενδύσεων στις κύριες αγορές και με τοπικούς συνεργάτες στις μικρότερες αγορές. Επίσης, η εταιρεία προσπαθεί να είναι ευέλικτη και να αντιδρά άμεσα στις προκλήσεις (όπως η μεταφορά της έδρας στο Λουξεμβούργο). Η εργασία κλείνει με την πρόταση για μελλοντική ερεύνα που θα πρέπει να γίνει σε ένα μεγαλύτερο δείγμα και με περισσότερες επιχειρήσεις. Λέξεις – Κλειδιά ΦΑΓΕ, διεθνείς στρατηγικές, στρατηγική , άμεσες ξένες επενδύσεις. Postgraduate Dissertation vi Athanasios Antonopoulos, The international operations of Greek dairy industry – The case study of FAGE Table of Contents Abstract ................................................................................................................................. v Περίληψη.............................................................................................................................. vi Table of Contents ................................................................................................................ vii Chapter 1 - Introduction ........................................................................................................ 1 Chapter 2 - Development strategies for companies which seek to externalize ................... 4 2.1 The usefulness of strategic planning ........................................................................... 4 2.2 The configuration of the strategy ................................................................................ 6 2.3 Development strategies - Theoretical Approach ......................................................... 8 2.4 Internationalization strategy ...................................................................................... 17 2.5 Business development strategy through acquisitions and mergers ........................... 17 2.6 Crisis management .................................................................................................... 18 2.7 Latest developments – Blue Oceans Strategy ........................................................... 20 2.8 Foreign marketing strategy and internationalization ................................................. 22 2.9 Modes of international operations ............................................................................. 24 Chapter 3 - Success stories of Greek companies - Strategy for the development of Greek enterprises ........................................................................................................................... 27 3.1 Coco-mat ................................................................................................................... 27 3.2 Korres Company ....................................................................................................... 30 3.3 IKEA - Fourlis ........................................................................................................... 31 3.4 Plaisio Company ....................................................................................................... 33 Chapter 4 - The empirical part ............................................................................................ 35 4.1 The methodology ...................................................................................................... 35 4.2 Company profile ........................................................................................................ 36 4.3 Data retrieved from review ....................................................................................... 40 Chapter 5 – Conclusions ..................................................................................................... 45 References ........................................................................................................................... 49 Appendix : The Research Questions ................................................................................... 51 Postgraduate Dissertation vii Athanasios Antonopoulos, The international operations of Greek dairy industry – The case study of FAGE Postgraduate Dissertation viii Athanasios Antonopoulos, The international operations of Greek dairy industry – The case study of FAGE Chapter 1 - Introduction Businesses today are organizations, whose main concern is to be able to respond to the challenges and threats that exist in their environment. It should be stressed that the environment today is very volatile and this has the effect that it is very difficult for businesses to create a strategy that will be long-lasting. An important parameter is that in today's crisis environment, but also innovation and new technologies, businesses have to cope with a highly complex environment that, to understand, one should have the relevant knowledge and experience. This means that today it is more necessary than ever for companies to invest in their human capital, so special attention should be paid to executives. The most important concern that businesses have with their executives is to shape their strategy. Strategy formulation is an important process in terms of strategic management. It exploits the data in the previous stage of strategic management, which is the analysis of the environment and gives direction for the strategy to be realized by creating a set of interrelated concepts and processes. It should be noted that strategy development is a development of long-term plans to make management effective, as well as the opportunities and threats posed to the environment in light of the strengths and weaknesses of a business. It includes the definition of the company's mission, the adoption of achievable goals, and the development with a series of strategies so that strategy shaping takes several stages. One may wonder how much strategy is needed. The answer is that the benefits of the organization are many and plan the future it has. Specific benefits are listed below. Strategic planning initially can work positively with the organization, as it can minimize uncertainty and risk. At the same time, it acts aggressively as the organization can cope with possible opportunities that may occur. In addition, it creates conditions for co-ordination, so that the best possible structure can be made and the organization can use its individual functions. Through strategic planning the organization focuses its attention on important issues and its resources

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