Energy efficiency criteria as a focus for market-driven strategies of large companies in transition economies

Shvets, V.; Palekhovа, L.; Palekhov, D.; Simon, S.

Purpose. The purpose of the presented research is to reveal the critical importance of energy efficiency indicators for large industrial companies from countries with economies in transition for increasing their competitiveness in local and global markets. Methodology. This article presents a historical overview of common principles and approaches to energy efficiency in the context of transition to sustainable development in countries with different economic policies, including countries with economies in transition. The research was based on the analysis of the international documents and reports, statistical data and national practices relating to energy efficiency and energy saving. Findings. The study highlights the extent of the problem of energy efficiency in countries with economies in transition, and identifies the causes for a lack of sufficient progress in achieving the energy sustainability of their large companies as a key driver for competitiveness and successful integration into global value chains. At the same time, the authors analysed the factors which contributed to the remarkable success of some countries with a socialist past in re-orientation of the governmental policy towards energy security and achieving sustainable economic growth. The system approach allowed to identify a number of the key factors related to energy efficiency and their impact on the achievement of competitive advantage. And, finally, the authors proposed a set of contextual criteria for the selection of potential market strategies aimed to position large companies as a part of complex value chains with a global dimension. Originality. The conducted analysis revealed that large companies in countries with economies in transitional have to take into account two groups of energy efficiency criteria for their integration into sustainable markets: 1) criteria related to the company's ability to improve the situation in its country or region; 2) criteria related to requirements and standards that are maintained or important for a particular value chain, into which the company is entering or intends to enter. Practical value. The significance of the new approach is that the company can change or expand the "push strategy" for positioning its business on external market, which is currently a common practice of Ukrainian enterprises. The suggested system of criteria can become a basis for the development of the "pull strategy", which would focus on sustainable development goals of all three groups of stakeholders: companies, region or country, and business partners within the value chain.


	Наукова періодика України		Naukovyi visnyk Natsionalnoho Hirnychoho Universytetu