Пища для ума. Коломейцева Е.М - 54 стр.

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54
and business acquisition. The fact that co-operatives were new players in the
more differentiated dairy product segments, probably played a role in slowing
down the internationalisation process, since a new player would usually have to
get comfortable with the domestic market first, before taking further steps to-
ward internationalisation (Bertram et al., 1996).
4. …, in a context of a fixed supply measured to match the domestic needs
as closely as possible, it appears difficult to develop exports. Similarly, as men-
tioned earlier, imports are also quite restricted in Canada. This could also ex-
plain the interest of foreign firms to chose to enter the Canadian market through
acquisition. In their global positioning strategy, most of the multi-national firms
present in Canada also made acquisitions in the US. If free dairy trade had been
possible, some of those firms might have chosen to be present in only one of
the two countries instead of being present in both.
5. … some flexibility had been introduced in the mid-nineties regarding
the availability of raw milk for exports, one has to wonder why so few Cana-
dian firms have not moved from the development of competitive advantages in
a core business (stage 1), directly to the operation of production centres in fo-
reign countries (stage 3). Supply management does not constrain a firm from
investing in other countries. Moreover, most of the movement in that direction
came from public and private firms, and not from co-operatives. The financial
structure of co-operatives may be a cause here.
T a s k E i g h t . Read the article and sum up its main points.
MILK AND BUTTER PRODUCTION PROBLEMS
American Butter Institute Market Situation & Outlook
Fourth Quarter 1998
Volume 1, Number 4
Editor: Chris A. Nubern
With the end of the holiday season, the butter industry experienced the
conclusion of one of the most volatile years in the history of the industry. Al-
though this statement is certainly true in terms of price, 1998 will also be re-
membered for the emotional debates on butter imports, daily cash trading, and
futures market development. Because some of these issues were not resolved in
1998, the butter industry should prepare for another interesting year. Some of
the issues that will require immediate attention from the industry include daily
trading at the Chicago Mercantile Exchange (CME) and the development of a
new milkfat market. The potential effects from these market adjustments are
examined in this ABI Market Situation & Outlook.
Also included in this report is a brief review of market performance in
1998. Given the industry's record setting pace, a final year-end-review is war-

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