Approaches to Improving Strategy of Business Development on Russian Market for SK Lubricants Co, LTD

Nowadays international companies try to enter new foreign markets and develop their products and technologies. Russian lubricants market is especially attractive for foreign companies as it is expanding dynamically. That is why company, which is entering and compete foreign market should take attention to strategy development and improvement. The aim of this project is to analyse current situation on lubricants market in Russia, compare companies, which are playing on the market, and to make several recommendations for South-Korean Company SK Lubricants, which is operating in Russia for 20 years. For the research such methods as PEST-analysis, SWOT-analysis, and Porter’s 5 Forces analysis were used. Information about company and its’ main competitors were provided by internal management of SK Lubricants Company and various reviews on lubricants market. The first chapter is about theoretical approaches to strategy development and choice of entry modes for international company. In the second chapter there is description of lubricants market, its’ tendencies and comparison of Russian and foreign markets. The third chapter is about SK Lubricants Company and its’ competitors. In the fourth chapter recommendations for strategy development are made. As a result of the project the existing strategy of SK Lubricants was identified and compared with other companies and recommendations for position improvement were made.