Changes in Global economic landscape - in search for new business Philosophy

International Scientific Conference

Conference Venue

Riga International School of Economics and Business Administration, Meža street 3, Riga, Latvia


28 - 29th April, 2011

Background and purpose

The economic downturn of 2008 led to dramatic economic changes especially affecting rapidly developing sectors, for example, entertainment, automobile production. It emerged that the demand was artificially maintained. This in turn had an impact on all interconnected branches. Eastern Europe (including Latvia) was severely affected by the crisis much more than other parts of the world. The situation in the Baltic region was bad.

We can talk about an (unstable) economic recovery only in 2010. Taking into account the fact that states with traditional economy based on primary sectors recovered from crisis faster than other countries, the question about the economic structure in Baltic States (especially, in Latvia) arises.

Looking at world economy on the whole, an increase in trade deficit can be observed between the West and the East - China, India. Such a situation cannot last indefinitely and there are limits to transferring production facilities, e.g. to China. A possible decrease in China’s pace of development should also be taken into account.

A lot of authors (I.Adizes, J.H.Braien) justly regard that we have experienced not an ordinary (cyclic) crisis, but a systemic crisis (especially taking into account growth in resource consumption and its possible shortfall).

All the abovementioned should be considered while planning a concrete business. We can talk about the necessity for a new business philosophy. To some extent we can say that a stable business is one that is oriented towards the satisfaction of an individual’s primary needs. The so called new sectors (connected with IT etc.) of the economy and enterprises, which were able to offer new products and services in the market that are in demand despite the economic downturn successfully managed to overcome the crisis.

The task of conference is to discuss the new philosophy of business based on analysis of changes in the world economy.

Conference scientific committee

Shima Barakat, Dr., University of Cambridge, United Kingdom

Ole Gjolberg, Prof., Dr., Norwegian University of Life Sciences, Norway

Madis Habakuk, Prof. Dr., Estonian Business School, Estonia

Vulfs Kozlinskis, Prof. Dr.habil., Riga International School of Economic and Business Administration, Latvia

Virginijus Kundrotas, Prof. Dr., Baltic Management Development Association, Lithuania

Patrick Sassmannshausen, Prof. Dr.,Schumpeter School of Business and Economics, Germany

Irina Senņikova,, Riga International School of Economic and Business Administration, Latvia

Irina Strelets, Prof. Dr., Moscow State Institute of International Relations, Russia

Vesa Tatilaa, Prof. Dr.,Laurea University of Applied Sciences, Finland

El Thalassinos, Prof. Dr., University of Piraeus, Greece

Tatjana Volkova, Prof. Dr., BA School of Business and |Finance, Latvia

Jānis Vucāns, Prof. Dr., Ventspils University College, Latvia


Papers should cover main topics of the conference:

  1. Changes in Global Economy Landscape - Main Influence on Business
  2. Society, Environment and Sustainability of Business
  3. Financial Engineering
  4. Multicultural work settings – obstacles or opportunities
  5. Networking Society and Clusters management
  6. Leadership and Fostering of Creative economy

Some Themes of the conference

  1. Changes in Global Economy Landscape - Main Influence on Business
  2. Economic stability based on artificially stimulated demand and the resulting business solutions.
  3. Future of economic relations from the East- West perspective - growing trade deficit in the West and the resulting necessary business solutions
  4. Experience of the industry for overcoming crisis situations.
  5. Positive aspects of the crisis, specific examples from the industry.
  6. Society, Environment and Sustainability of Business
  7. Social Choice and Individual Preferences
  8. Economy as the Subsystem of Nature
  9. Political, Ecological, Religious, Cultural, Ethnical and Legal Dimensions of Environment
  10. Stationary State of Economy – from Mill to Daly.
  11. Multicultural work settings – obstacles or opportunities
  12. Global Integration versus National Differentiation: the benefit of a global strategy and the needs for national differentiations
  13. Implication of a firm's national environment for its competitive advantage
  14. International strategies that achieve an optimal balance between global integration and national differentiations
  15. Design management system appropriate to the pursuit of international strategies
  16. Strategy for exploiting global business opportunities

Main deadlines:

Submission of abstracts: 1.12.2010.

Notification of acceptance: 20.12.2010.

Full paper Submission: 20.04.2011.

Conference Journals

Journal of Business Management, ISSN 1691-5348

Proceedings of Conference


Please send Registration form to e-mail:

Contact person

Loreta Losāne

Assistant to Vice-Rector of Research

Riga International School of Economic and Business Administration (RISEBA)


Phone: +371 67807234

Fax: +371 67500252