Academic literature on the topic 'External environment and internal analysis'

The Delta Group with its daughter company Delta Pekárny, a.s., belongs to the most significant firms in the Czech food processing industry and it is number one baking company in the Czech market of fresh, long-shelf-life and frozen bakery products. The Delta Group associates eleven industrial bakeries in the Czech Republic and four in Slovakia, in addition to mills, Delta Frozen Products frozen-pastry plant, Delibake and Harry’s Delta sweet long-shelf-life bakery products’ plant, Vegilife company producing healthy food, Eureca Shops running Paneria, Fr. Odkolek fast-food outlets and Le Patio restaurants. In order to consolidate its status of a strong and successful Central-European company capable to meet all requirements of its customers, the company must perform a continuous analysis of external and internal environment.

The success of performance is not only from a historical financial aspect, but more than that, from non-financial factors that have a much greater contribution. The research objective is to analyze the environment, internal, and company performance. The method used in this research is a descriptive and associative approach with a quantitative approach. The sampling technique used in this study used saturated sampling or often referred to as census and in this case only PT Ultimedia Group Saudara's employees could get 58 people using the saturated sampling technique. The data analysis technique used is multiple linear regression analysis, including the coefficient of determination, multiple correlation coefficients, partial test (T test), and simultaneous test (F test). The results showed that the external environment has an effect on company performance. Internal control affects company performance. The simultaneous test results (F test) show that the external environment and control have an effect on company performance.

Zemspol, Dešná, Ltd is a large corporation engaged in various aspects of agriculture in the Czech Republic, including agricultural production, the assembly, maintenance and repair of agricultural machinery, the production of feed stuffs and feed mixtures,special agricultural services demanding special entitlement, business related matters and accounting. This paper focuses on agricultural production. The farm manages 2 100 hectares of agricultural land suitable for growing potatoes, although the largest area is used for growing wheat. The range of produce remains constant. Regarding livestock, the corporation specializes in cattle with the steady head count 250 for the past 15 years. These are predominantly red and white cattle, optimized for both milk and meat production. The average annual production is 1 350 000 litres of milk and 250 tons of beef. The agricultural farm can be described as being a strong perfomer with a very stable base, good reputation and very attractive products, both of crops and livestock. In order to keep this enviable status, frequent internal and external environmental analyses are undertaken.

PurposeThe purpose of this paper is to explore the dynamics of the relationships between sales and internal and external environmental drivers in a retail company using a systems perspective in order to support retail management decisions with nonlinear methods.Design/methodology/approachThe research and results are presented in two parts: the collection and explorative analysis of the data; and discussion of the managerial implications following a systems perspective. The exploratory analysis is conducted using a statistical comparison of linear and nonlinear models of sales data from a retail company. The data, which comprise two data sets, come from 45 retail stores located in different regions of the USA.FindingsSpecifically, nonlinear models provided a better explanation of variation in retail activity (R2=46 per cent) than linear models (R2=16 per cent). In such a situation, the nonlinear analysis captures the influence of internal and external environmental drivers on retail sales.Research limitations/implicationsWith a limited variety of external and internal drivers, the exploratory analysis aims to describe a general situation in which retailers are managing activities in complex environments as opposed to reflect on a particular retail chain.Practical implicationsThe systems perspective is used to interpret the managerial implications of the nonlinear analysis fits, particularly in cases where retail decision-makers are adapting, transforming and restructuring sources of competitive advantage in complex environments.Originality/valueThe paper provides an alternative perspective (the systemic one) of how retailers could interpret the relationships between internal and external variables in the dynamic environment of the retail chains with nonlinear models.

Este artigo tem como objectivo analisar o campo religioso português, focando-se na Igreja Católica e aplicando a análise externa e a análise interna, segundo o método empresarial da análise SWOT. A análise externa examina a envolvente contextual, a envolvente transaccional, ameaças e oportunidades, a atractividade e a estrutura. A análise interna examina recursos e sua evolução, produtos/serviços disponibilizados, assim como pontos fracos e pontos fortes. Por fim, questionase o sucesso da Igreja Católica com base nos conceitos de estratégia, factores críticos de sucesso e competências centrais, concluindo-se pela multiplicidade de realidades dentro da Igreja Católica, devido à variedade de competências centrais de cada entidade eclesial.Abstract: This article aims to analyse the Portuguese religious field, focusing on the Catholic Church and applying external analysis and internal analysis, according to the business method of SWOT analysis. External analysis examines the contextual environment, the transactional environment, threats and opportunities, attractiveness, and structure. The internal analysis examines resources and their evolution, products/services available, as well as weaknesses and strengths. Finally, the success of the Catholic Church is questioned based on the concepts of strategy, critical success factors and core competences, concluding by the multiplicity of realities within the Catholic Church, due to the variety of central competences of each ecclesial entity.Keywords: Religious field; Portugal; External analysis; Internal analysis; Catholic Church.

The purpose of this study is to examine and analyze the influence of: (1) internal environment, external environment, business ethics, entrepreneurial orientation on differentiation strategies; (2) internal environment, external environment, business ethics, entrepreneurial orientation, differentiation strategies on competitive advantage; (3) internal environment, external environment, business ethics, entrepreneurial orientation, differentiation strategies, competitive advantage on business performance. This research is an explanatory type of research with a quantitative approach. The populations in this study were all Small Industries in Surabaya as many as 384 Small Industries in Surabaya, while the samples used were 349 Small Industries in Surabaya. Data collection is done by questionnaire. The data analysis technique used is the Structural Equation Model (SEM) with AMOS program. Based on the results of the analysis shows that: (1) internal environment, external environment, business ethics, entrepreneurial orientation significantly influences on differentiation strategy; (2) business ethics, entrepreneurial orientation, differentiation strategy has a significant influences on competitive advantage, while internal environment and external environment does not have a significant influences on competitive advantage; (3) internal environment, entrepreneurial orientation, differentiation strategies, competitive advantage has a significant influences on the performance of small industries, while external environment and business ethics has no significant influences on the performance of small industries.

ASEAN countries perceive the possible formation of the FTAA as a potential threat on the grounds that it may divert export markets and foreign direct investment (FDI) capital to the FTAA region. This effect, together with the “China factor” and the hangover from the 1997 financial crisis, posts a concern to the ASEAN countries' economic growth. We show that, with Singapore as an exception, ASEAN countries are afflicted with state activism, poor property rights protection, and under-developed corporate governance. We argue that a poor institutional environment may exacerbate the effects of an external shock – such as that of FTAA – and thus we need to explicitly incorporate the role of institutional environments in our analysis. We further argue that while FDI flows to locations with market opportunities, a location's institutional environment affects the composition of FDI. Due to ASEAN countries' institutional weakness, its substantial inward FDI has mainly substituted, rather than complemented, local entrepreneurship. As FTAA may divert FDI flows into ASEAN countries, their appropriate response is to improve institutional quality so that the share of the more productive complementary FDI will increase in the total FDI inflows.

Aim. The presented study aims to analyze the external and internal environment of the Kabardino-Balkar Republic, identifying opportunities and threats to the region’s economic and social development.Tasks. The author examines the methodology for analyzing the external and internal environment of the region; analyzes global opportunities and threats to the development of the Kabardino-Balkar Republic, as well as strengths and weaknesses of a subsidized region according to basic limiting economic factors.Methods. The author conducts an assessment of the region based on the basic factors of the external and internal environment. Strategic trends are summarized and inferred from statistical observations. The study also uses analytical and synthetic methods.Results. The Kabardino-Balkar Republic, a region with a continuously low level of economic and social development, is chosen as the subject of the study. It is established that this region’s natural resources can serve as a driver of economic growth. However, the region’s low investment attractiveness and the large amount of investment required make it impossible to seize this strategic opportunity. Due to the low level of economic development in the Republic, there is an outflow of the working-age population, which is an obvious strategic threat. The level of development of production facilities and infrastructure is below the national average. The region’s main specialization includes the agro-industrial complex (AIC), wholesale and retail trade. There is a lack of capital for the implementation of the development strategy in the Kabardino-Balkar Republic, the subnational budget largely depending on gratuitous contributions from the center.Conclusions. The conducted analysis of the external and internal environment makes it possible to identify opportunities and threats and determine strategic priorities supported by competitive advantages.

This paper aims to determine 1) the internal environment BPSDM Prov. Jambi, 2) external environment BPSDM Prov. Jambi, and 3) what strategic alternatives that could be taken after the change in nomenclature BPSDM Prov. Jambi. The main method of this article is a review of the relevant literature and documentation were analyzed using analysis of internal factors (Internal Factor Analysis Summary), the analysis of external factors (External Factor Analysis Summary) and SWOT analysis.

Notwithstanding the attempt to capture a universal definition of 'work-life balance', the view of WLB as a subjective concept seems to hold merit. To understand what constitutes WLB or what influences subjective perceptions and experiences of WLB, one must interpret it through the lens of individuals who enact it every day. This thesis adopted a multilevel approach to examine employees' subjective perceptions of work-life balance among the three dimensions of influence: organisational policy framework and line manager support(internal environment) and economic climate (external environment). Employee's work context as reflected by the employee role and departmental type was also considered. 82 employees participated in this study (semi-structured interviews), ensuring range and richness of data. The findings of this study led to a conceptual model that illustrates how internal and external environmental factors influence employees' perceptions and experiences of WLB. The impact if these factors was not universal but differed based on employee context. The study also demonstrates that with negative economic changes, organisational support for WLB as well as individual perceptions of WLB undergo change, further establishing the idea of WLB as a subjective concept. Work took on greater significance when the existence of work (and consequently life as one knows it!) was threatened.

This diploma thesis deals with the strategic analysis of L'Oréal, the company active on the market of fast moving consumer goods in the field of cosmetics. Based on strategic analysis, the main aim of thesis is to create a revenue growth strategy, identify competitive benefits, and identify threats. The theoretical part explains the basic concepts of strategic analysis. External environment of company is described by using PEST analysis and explaining new trends in the field of fast moving market. Internal environment of company is described by using analysis of competition, evaluation of the company's resources and Porter's five forces analysis. The methods and analysis described in theoretical part are used for LOréal and its surroundings in practical part of thesis. The company's portfolio is evaluated by using BCG matrix. Based on the results summarized in the SWOT analysis author come up with suggestions and recommendations for the future of the company.

Despite a Presidential Order in 2004 that launched national incentives for the use of health information technology, specifically the Electronic Health Record (EHR), adoption of the EHR has been slow. This study attempts to quantify factors associated with adoption of the EHR and Computerized Provider Order Entry (CPOE) by combining multiple organizational theories and empirical studies. The study is conducted in two phases. The primary phase of this study identifies and evaluates the effects of external environmental and internal organizational factors on healthcare organizations to adopt the EHR. From secondary data, twelve IVs (df=19) are chosen based on existing models and literature. Logistic regression is used to determine the association between the environmental factors and EHR adoption. The secondary phase of this study examines the adoption of five variations of CPOE using the same IVs from phase one. This EHR component of CPOE is chosen due to its promotion as a solution to help cross the quality chasm (IOM, 2001). Secondary data are analyzed and logistic regression is used to quantify the association between the factors of EHR adoption and CPOE adoption. Eleven of the twelve IVs are significant between the two phases (p<.1). This study uses data from 2009 because the HITECH Act was passed that year and significant government incentives were offered for those health care organizations (HCOs) that meet the qualifications of meaningful use. This study serves as a baseline for future studies, extends the work of other empirical studies, and fills a gap in the literature concerning factors associated with the adoption of the EHR and specific dimensions of CPOE. The Kruse Theory developed is strongly based in literature and reflects complexity commensurate with the health care industry.

I will look at what impact big data have had on the managerial strategic decisions in the food and beverage industry. This in order to understand the complexity and theory of organizational strategic management, an effort to define the contemporary strategic theory into a holistic conceptual model is done through a literature review on organizational strategy. This literature explicitly proposes four distinctly different types of strategies that management need to consider in the organizational context. Namely, long-term strategy, internal business strategy, external corporate strategy, and competitive strategy. The study analyzed the food and beverage industry over a decade (2005-2014), where the three of the largest actors in the industry were selected, Nestlé S.A, PepsiCo Inc, and Unilever. The choice of method was content analysis, where three structured categorization matrixes were developed which each analyzed parts of the annual reports. The study propose the role of big data as a strategic tool for managerial decision from a theoretical standpoint. The content analysis show that hypothesis 1, could be confirmed, big data have an impact on all the proposed four managerial strategic decisions. Second hypothesis could not be confirmed, since decentralization does only occur for one of the organizations, but increased external environment turbulence could be concluded for the industry in general. The third hypothesis could be confirmed, which show that there is an increase in individualization due to increased customer involvement and demand. The analysis discovered three distinct time periods during the last decade, namely pre- economic instability period (2005-2007), economic instability period (2008-2011) and finally the post-paradigm period (2012-2014). Where the year 2011 was the most turbulent in terms of economy and technology for the industry. The study clearly show that customers are now involved in the production process, customers are co-creators of the products. There is now a two-way communication and increased social responsibility awareness. This study shows that the old traditional approach of looking at markets in order to position yourself to stay competitive are obsolete as this study predicted. customers demand to be a part of the organizational culture. This conclude that big data is an important tool for all strategic managerial decisions.

The aim of this thesis is to provide a SWOT analysis of the Via Foundation through which is detected potential opportunities and threats for the organization and its current strengths and weaknesses. The theoretical part explains the basic concepts, theoretical knowledge and the process itself concerning the creation of a SWOT analysis. The described methods are then used in the practical part on the example of the Via Foundation. To identify potential opportunities and threats from the external environment is used PEST analysis supported by time series analysis. For discovering potential of the organization in terms of strengths and weaknesses is used the evaluation of selected parameters of the organization as compared to the analogous organizations. In conclusion, the thesis summarizes important information obtained by this analysis and there are proposed recommendations for the organization.

The aim of my final thesis is to create a business plan in order to found a new company called EkonomLife s.r.o. The company will primarily provide training and education to increase financial literacy of population of South Bohemia. In the theoretical part of the thesis, I describe basic segments of the business plan and explain the area of education specializing in finance and financial literacy. In particular, I focus on the game "VirtuLife", which is a crucial instrument for teaching financial literacy and at the same time a marketing instrument suitable for communication with target groups of clients of the new company. In the practical part of the thesis, I analyse internal and external environment of the company and I suggest convenient sales and marketing strategy based on the previously collected data. At the same time, I evaluate financial possibilities of the company by compiling a founding budget. At the end of my work I come to a conclusion that foundation of such company is very risky at this time and it would be better to find different ways how to address potential clients.

This diploma thesis deals with the strategic analysis of Skoda Auto a. s. and its current strategy. Also, it deals with verifying of given hypotheses to effectively determine the future operational strategy. The first part is the theoretical and methodological, which explains the key concepts of strategic analysis of a company. It's followed by the practical part, which translates the theory of strategic analysis into the practice, analyzes modern trends and via the synthesis method it achieves the objective of this thesis: to specify strategic recommendations for Skoda Auto and to verify the hypotheses specified in the beginning.

On grounds of a performed research the autor hereof offers a suitable marketing strategy which would lead to more efficient sales of goods produced by company PLEAS a.s. Herein, the theoretical knowledge is applied to a real situaution of the marketing research and the proposals resulting thereof are then analyzed and presented.

Considering the adhesive joint widely used in industry, and its successful use in repairing systems in offshore pipelines, its application for pipe lines in deep sea is proposed. As pipe lines underwater are subjected to tension, bending, internal and external pressure, and adhesive joints have the singular stress fields at the end of interfaces of different materials, adhesive joints of pipes lines are the weakest parts in term of strength. This research studied the strength of adhesive joints of pipe lines under tension, bending, internal and external pressure, and the combination of these loadings using finite element analysis. It was determined that the adhesive joints of pipe lines are more prone to failure along the adhesive-pipe interface under bending compared to other loadings. Moreover, the effects of adhesive thickness and cover length on the strength of adhesive joint are investigated in this paper.

Following a general description and analysis of the fundamental criteria for the dynamic design concerning dynamic stiffness, strength and environment issues, it is considered that the natural characteristics of the dynamic system and the dynamic responses of the system subject to various dynamic loads are two key critical issues in the dynamic design. Therefore, for the dynamic design of a LNG tank filled with liquid and operated on seaway, it is necessary to accurately predict its natural characteristics and dynamic response considering fluid structure interactions. To address these two key issues in the dynamic design stage, the developed computer software based on a mixed displacement–pressure finite element model to complete fluid-structure interaction analysis is introduced. An integrated internal liquid-tank-external water interaction system investigated by numerical simulations is summarised to consider the two issues involving the dynamic design of LNG tanks. The five studied cases include: i) 50% filled LNG liquid in a fixed rigid tank, ii) elastic tank only, iii) 50% filled LNG liquid-elastic tank interaction, iv) empty elastic tank-external sea water interaction and v) internally 50% filled LNG liquid-elastic tank-external sea water interaction. The calculated results are compared to reveal the coupling effects on the dynamic design of LNG tanks. To further demonstrate the effects of the natural characteristics affected by different interactions on the dynamic responses involving the dynamic strength, stiffness and vibration environment problems considered in dynamic design, the numerical simulations of the studied systems subject to regular sea wave excitations and earthquake excitations are carried out. The dynamic displacements for stiffness analysis, the dynamic stress for strength analysis and vibration level for dynamic environment analysis are presented and discussed. Guidelines provided in this paper maybe useful for dynamic designs of LNG tank operating in complex marine environments.

Heat transfers in an automotive turbocharger comprise significant energy flows, but are rarely measured or accounted for in any turbocharger performance assessment. Existing measurements suggest that the difference in turbine efficiency calculated in the conventional way, by means of the fluid temperature change, under adiabatic conditions differs considerably from the usual diabatic test conditions, particularly at low turbine pressure ratio. In the work described in this paper, three commercial turbochargers were extensively instrumented with thermocouples on all accessible external and internal surfaces in order to make comprehensive temperature surveys. The turbochargers were run at ranges of turbine inlet temperature and external ventilation. Adiabatic tests were also carried out to serve as a reference condition. Based on the temperature measurements, the internal heat fluxes from the turbine gas to the turbocharger structure, and from there to the lubricating oil and the compressor, and the external heat fluxes to the environment, were calculated. A one-dimensional heat transfer network model of the turbocharger was demonstrated to be able to simulate the heat fluxes to good accuracy, and that the heat transfer coefficients required were ultimately found to be mostly independent of the turbochargers tested.

Abstract The subsea pipelines are usually located in a corrosive external and internal environment. Corrosion presents to be the most common defect type in subsea pipelines, and it is regarded to be one of the main causes of subsea pipeline failure. Due to subsea subsidence, mudslides, and seismic activities, the pipeline is presented under combined external pressure, bending moments and axial force combined loading cases. The accurate determination of the collapse pressure of corroded pipelines under combined loading is important in engineering practice. On the basis of the finite element method, collapse failure of subsea corroded pipelines under combined loads is investigated. The influence of corrosion length, corrosion width, corrosion depth and diameter-thick ratio on the collapse failure pressure is studied. It is observed that corrosion depth has the most significant impact on pipelines’ collapse capacity. Furthermore, regression equations for predicting the collapse pressure of subsea corroded pipelines are proposed based on numerical results. The solution can be referred to in structural integrity assessment of subsea corroded pipelines.

In response to the Paris Agreement and the Sustainable Development Goals (SDGs), the IDB Group Board of Governors endorsed the target of increasing climate-related financing in Latin America and the Caribbean (LAC) from 15% in 2015 to 30% of the IDB Groups combined total approvals by 2020. Currently, the IDB Group is on track to meet this commitment, as in 2018, it financed nearly US$5 billion in climate-change-related activities benefiting LAC, which accounted for 27% of total IDB Groups annual approvals. In 2019, the overall volume and proportion of climate finance in new IDBG approvals have increased to 29%. As the IDB continues to strive towards this goal by using its funds to ramp-up climate action, it also acknowledges that tackling climate change is an objective shared with the rest of the international community. For the past ten years, strategic partnerships have been forged with external sources of finance that are also looking to invest in low-carbon and climate-resilient development. Doing this has contributed to the Banks objective of mobilizing additional resources for climate action while also strengthening its position as a leading partner to accelerate climate innovation in many fields. From climate-smart technologies and resilient infrastructure to institutional reform and financial mechanisms, IDB's use of external sources of finance is helping countries in LAC advance toward meeting their international climate change commitments. This report collects a series of insights and lessons learned by the IDB in the preparation and implementation of projects with climate finance from four external sources: the Climate Investment Funds (CIF), the Forest Carbon Partnership Facility (FCPF), the Green Climate Fund (GCF) and the Global Environment Facility (GEF). It includes a systematic revision of their design and their progress on delivery, an assessment of broader impacts (scale-up, replication, and contributions to transformational change/paradigm shift), and a set of recommendations to optimize the access and use of these funds in future rounds of climate investment. The insights and lessons learned collected in this publication can inform the design of short and medium-term actions that support “green recovery” through the mobilization of investments that promote decarbonization.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.

The article examines the world and Ukrainian history of corporate periodicals. The main purpose of this study is to reproduce an objective global picture of the emergence and formation of corporate periodicals, taking into account the business and socio-economic context. Accordingly, its tasks are to compare the conditions and features of corporate media genesis in different countries, to determine the main factors of their development, as well as to clarify the transformations of the terminological apparatus. The research is based on mostly foreign secondary scientific works published from 1915 to the present time. The literature was studied using methods such as overview, historical, functional and thematic analysis, description, and generalization. A systematic approach was used to determine the role and place of each element in the system, as well as to comprehensively consider the object in the general historical context and within the current scientific discourse. The method of systematization made it possible to establish internal and external connections, patterns and contradictions in the development of the object of study. The main historical milestones on this path are identified, examples of the first successful corporate publications and their contribution to business development, public relations, and corporate communications are considered. It was found that corporate media emerged in the mid-nineteenth century spontaneously, on the wave of practical business needs in response to industrialization, company increase, staff growth, and consumer market development. Their appearance preceded the formation of the public relations industry and changed the structure of the information space. The scientific significance of this research is that the historical look at the evolution of corporate media provides an understanding of their place, influence, capabilities, and growing communicative role in the digital age.

The convergence of a favorable macroeconomic environment and high prices of primary commodities between 2000 and 2011 contributed to the best performance of agriculture in Latin America and the Caribbean (LAC) since the 1980s, with steady growth of total factor productivity (TFP) and output per worker and a reduction in the use of input per worker. The end of the upward phase of the commodity cycle in 2011 together with less favorable external markets and a deterioration of the policy environment in several countries, motivates us to revisit the situation of agriculture in LAC in recent years to analyze how these changes have affected its performance. This study applies a framework that uses index numbers together with data envelopment analysis (DEA) to estimate levels of productivity and efficiency, incorporating technical change together with technical (TE) and environmental efficiency (EE) into the decomposition of TFP. The EE index adjusts the TFP measure for pollution, treating GHG emissions as a by-product of the desired crop or livestock outputs. TFP and efficiency of crop and livestock sub-sectors was calculated for 24 LAC countries from 2000 to 2016. Our results show that the period of fast agricultural growth in LAC, driven by technical change and resource reallocation, transformed agriculture in the region leaving it in a better position to cope with the more unfavorable regional macroeconomic environment and the less dynamic global markets observed after 2011.

The article analyzes the peculiarities of the media content shaping and transformation in the convergent dimension of cross-media, taking into account the possibilities of augmented reality. With the help of the principles of objectivity, complexity and reliability in scientific research, a number of general scientific and special methods are used: method of analysis, synthesis, generalization, method of monitoring, observation, problem-thematic, typological and discursive methods. According to the form of information presentation, such types of media content as visual, audio, verbal and combined are defined and characterized. The most important in journalism is verbal content, it is the one that carries the main information load. The dynamic development of converged media leads to the dominance of image and video content; the likelihood of increasing the secondary content of the text increases. Given the market situation, the effective information product is a combined content that combines text with images, spreadsheets with video, animation with infographics, etc. Increasing number of new media are using applications and website platforms to interact with recipients. To proceed, the peculiarities of the new content of new media with the involvement of augmented reality are determined. Examples of successful interactive communication between recipients, the leading news agencies and commercial structures are provided. The conditions for effective use of VR / AR-technologies in the media content of new media, the involvement of viewers in changing stories with augmented reality are determined. The so-called immersive effect with the use of VR / AR-technologies involves complete immersion, immersion of the interested audience in the essence of the event being relayed. This interaction can be achieved through different types of VR video interactivity. One of the most important results of using VR content is the spatio-temporal and emotional immersion of viewers in the plot. The recipient turns from an external observer into an internal one; but his constant participation requires that the user preferences are taken into account. Factors such as satisfaction, positive reinforcement, empathy, and value influence the choice of VR / AR content by viewers.

The last decade has brought a row of substantial changes that have profound implications for the traditional hydrocarbon resource-rich economies. Economic conditions may change radically either throughout a decade or within months. The question is whether there is no other option for a hydrocarbon resource-rich economy than to be held hostage to the fluctuations in global oil prices. The general answer to a changing environment is: Adapt! From the macroeconomic perspective, this means diversifying the economy to broaden the income base and significantly reduce the dependence on oil revenues. The Saudi Vision 2030 represents a complex plan for substantial socioeconomic adjustments that are about to move the economy toward a more diversified and sustainable one. This discussion paper examines the preferred diversification paths for the Saudi economy in more detail, with a focus on the foreseen adjustments in the sectoral composition of the economy along with broader macroeconomic shifts. The evaluation of the foreseen diversification impacts is based on the updated Vision 2030 Input-Output Table that maps the changing structure of the Saudi economy over the coming decade. We discuss the assumed expansion of the diversification frontrunners, their changing contribution to the overall economic activity and identify the preferred diversification paths for the Saudi economy. The advances in economic diversification are measured by applying the Shannon-Weaver index to sectoral GDP and household income. The expected sectoral changes are wide-reaching, so the basic macroeconomic relations are also subject to adjustments. We also conduct a sensitivity analysis to examine the effects of the foreseen diversification on the resilience of the Saudi economy to external shocks.