Business Models Amid Changes in Regulation and Environment: The Case of Finland–Russia

Abstract

Changes in regulation are affecting the international business environment. In this study the impact of regulation changes and ways to benefit from those in Finland and Russia are examined. Logistics and manufacturing companies are studied using the case study approach including ten semi-structured interviews (Finland and Russia) and a survey (Southeast Finland), further supported by an additional survey for logistics sector companies (Southeast Finland). The changes in the business environment have created a fragmented market with a growing number of actors. Three business models (blockchain-based, platform-based and innovative subcontracting-based), capitalizing on the growing number of actors, were incepted in the interview phase and evaluated in the survey phase with companies. These models are integrable with the circular economy, a relevant practice according to the studied companies. Blockchain was perceived as a still immature technology. Further study revealed that the companies are not well prepared for environmental demands in logistics, and the overall volumes and business climate between the analyzed countries have not improved. Additionally, those companies do not actively pursue the possibilities of new technologies. The impact of regulatory changes in this region has not been examined closely with a case study approach. This study helps to explain the current trends in an established market.

Retracted: Industry 4.0 and circular economy practices: A new era business strategies for environmental sustainability

“…This information sharing helps build customers' trust in their products and effectively deal with counterfeit and fraud-related issues. Lim et al's (2019) blockchain technology provides a smart contract facility to the supply chain partners, which increased the efficiency of procurement processes and reduce the cost Hoek, 2019;Lähdeaho & Hilmola, 2020). Blockchain shares real-time information with multiple supply chain partners, which control the environmental quality and receive feedback on green product design (Wang et al 2019).…”

Blockchain Technology for Sustainable Supply Chain Management: A Systematic Literature Review and a Classification Framework

“…BIC (Blockchain-Internet of Things-Cloud) technology layer is an opportunity to upgrade the SYNCHRO-NET system [106]. A study of logistics and manufacturing companies in Finland and Russia found blockchain as an immature technology to base business models upon [107]. Adoption of blockchain technology requires businesses to rethink and redesign the full business model of agriculture and food supply chain, especially in the Covid-19 scenario [108].…”

Improving Maritime Transport Sustainability Using Blockchain-Based Information Exchange

“…In maritime transport, an increasing focus is placed on the environmental aspect of sustainability because of tightening emission regulations and stakeholder demands. Non-compliance or inactivity related to environmental sustainability can ultimately lead to unexpected costs for companies [16]. With regard to the social aspect of sustainability, safety and security, health, employment, employee engagement, and working conditions should be considered [11,17].…”