Competition and Local Market Conditions on the Belgian Retail Gasoline Market

The Belgian retail gasoline network is one of the densest in the world and is characterised by a maximum price agreement between the government and the oil industry. Using price data covering almost 500 points of sale located all over Belgium, the price competition among Belgian gas stations is analysed. We observe that stations located along a highway always charge the maximum price. On local markets that are sufficiently competitive, prices are below the maximum price. The analysis further suggests that the number of local competitors does not have a large impact on retail gasoline prices. However, competition is fiercer in the presence of independent gasoline retailers.     

Involving purchasing in new product development

Purchasing is evolving into a strategic business activity and thus also a potential contributor to the successful development of new products. However, the literature on the involvement of purchasing in new product development (NPD) is sorely lacking. We conducted an exploratory study to investigate purchasing's involvement in NPD, the drivers of this involvement and the influence on new product success. We conducted telephone interviews with purchasing and NPD managers from 43 firms. The results show that firms differ in the extent to which they involve purchasing in NPD and that higher involvement has a positive effect on NPD performance. R&D managers can use the results to design a more effective purchasing–R&D interface and increase the success of NPD.     

Challenges for the floriculture industry in a developing country: a South African perspective

The increasing numbers of global floriculture producers, and changes in the basis of competition in this international industry, make it important to evaluate the South African floriculture industry's competitive position. The industry employs more than 17 500 people and provides opportunities for rural employment. This article assesses the challenges facing the South African floriculture industry in the competitive global market, using a framework based on global value chain (GVC) and global commodity chain (GCC) analyses. An empirical study showed that the industry is insufficiently competitive and does not participate to its full potential in the global market. It is recommended that floriculture producers shift their focus from the domestic to the international market, as the domestic market is becoming saturated and its turnover is small. However, as enhancing the industry's competitiveness is a complex endeavour, the industry first needs to address the weaknesses identified.     

A state‐level analysis of the economic impacts of medical tourism in Malaysia

In Malaysia, a country that ranks among the world's most recognised medical tourism destinations, medical tourism is identified as a potential economic growth engine for both medical and non‐medical sectors. A state‐level analysis of economic impacts is important, given differences between states in economic profiles and numbers, origins, and expenditure of medical tourists. We applied input–output (I–O) analysis, based on state‐specific I–O data and disaggregated foreign patient data. The analysis includes nine of Malaysia's states. In 2007, these states were visited by 341,288 foreign patients, who generated MYR1,313.4 m ($372.3 m) output, MYR468.6 m ($132.8 m) in value added, and over 19,000 jobs. Impacts related to non‐medical expenditure are more substantial than impacts related to medical expenditure, and indirect impacts are a substantial part of total impacts. We discuss management and policy responses and formulate recommendations for data collection.     

“Surfeiting,the appetite may sicken”: entrepreneurship and happiness

Do the presence and nature of entrepreneurship impact on national happiness, and are nations with happy citizens better for entrepreneurs to start new businesses? To provide tentative answers we survey the literature on entrepreneurship and subjective well-being and use various data sources to uncover the first evidence of the relationship between entrepreneurship and happiness at the country level. We find that opportunity-motivated entrepreneurship may contribute to a nation’s happiness but only to a certain point, at which the effects of happiness begin to decline. Moreover, our results suggest that a nation’s happiness affects early-stage opportunity-driven entrepreneurial activity.