Diversification and its reflections on profitability - strategic change in pulp and paper industry in the years 1996 and 2006

The purpose of the thesis was to analyze diversification in pulp and paper industry (PPI), which is an industry facing enormous strategic challenges as many of the basic parameters of its operational environment are rapidly changing. The objective was to explore, how PPI companies have reacted to these changes by adjusting their strategies in terms of diversification and how the adjustments have affected their profitability. The study was statistical in nature. The results indicate that PPI companies in deed had reduced the degree of unrelated and related diversification , but the positive performance implications of the changes were debatable. In light of the data used in the study lower level of diversification did not lead to better profitability, in fact, the companies with the highest level of diversification had the best profitability. By contrast, reducing the level of unrelated diversification improved the profitability development; whereas reducing the level of related diversification deteriorated the profitability of the company. The results were not statistically significant and they cannot be generalized outside the data of the study.

Consistency and change in Finnish broadcasting policy : the implementation of digital television and lessons from the Canadian experience

Konsistens och förändring i finländsk etermediapolitik. Implementering av digital television och en jämförelse med Kanada Avhandlingen handlar om hur det finländska televisionssystemet förändrades i slutet av 1990-talet från en nationell institution till ett dualistiskt system som präglas av stark marknadsorientering. Syftet med avhandlingen är att förstå på vilket sätt en så snabb förändring kunde ske och analysera de institutionella faktorerna bakom utvecklingen. På teoretisk nivå diskuteras tesen om det nära sambandet mellan statliga politiska institutioner och rundradioverksamhetens institutioner. Avhandlingen består av två fallstudier. Den första sätter fokus på de första åren av den finländska televisionens digitaliseringsprocess som startade med starka industriell-nationalistiska motiveringar. Analysen, som baserar på offentliga dokument, sträcker sig framtill hösten 2001 då de digitala televisionssändningarna startade och regeringspropositionen om den nya kommunikationsmarknadslagen lämnades till riksdagen. Dessa policy-processer analyseras som en ”marknadisering” av de traditionella styrningsprinciper och idéer gällande finländsk rundradioverksamheten. En jämförelse mellan Finlands och Kanadas nationella rundradiopolitik gör att man kan koppla slutsatserna till den internationella utvecklingen. Jämförelsen visar hur kommunikationspolitiska linjen i de två länderna har kommit att likna varandra trots att ländernas tv-system och deras styrordningar är mycket olika. Exemplet med Kanada visar att den särskilda teknologin inte är viktig utan snarare de kommersiella intressen som står bakom och som beslutsfattare gärna döljer i en nationalistisk retorik. Studien visar att det är viktigt att beakta vilken tyngd man i politiken ger de två sidor som rundradioverksamheten består av: sändningsteknologin och verksamheten som en speciell kulturform. Nationalstatens handlingsutrymme minskar inom fältet om målet är att vara framgångsrik i konkurrensen i den nya internationella ekonomin. Enligt de nyliberalistiska principer som det politiska systemet överlag har tillägnat sig det är önskvärd men också helt inhemska institutionella traditioner och praxis som följdes i den finländska digitaliseringsprocessen främjade utvecklingen som ledde till att nästan alla ursprungliga nationella syften föll sönder.

Rural Food System Change in Tanzania during the Post-Ujamaa Era. A Case Study from Western Bagamoyo District

Food systems in Sub-Saharan Africa have been rapidly transforming during the recent decades with diverse outcomes on human development and environment. This study explores the food system change in rural villages in eastern Tanzania where subsistence agriculture has traditionally been the main source of livelihood. The focus is on the salient changes in the spatial dimensions and structural composition of the food system in the context of economic liberalization that has taken place after the end of the socialist ujamaa era in the mid-1980s. In addition, the linkages of the changes are examined in relation to food security, socio-economic situation, livelihoods, and local environment. The approach of the study is geographical, but also involves various multi-disciplinary elements, particularly from development studies. The research methods included thematic and questionnaire interviews, participatory tools, and the analysis of land use/ cover data and official documents. Several earlier studies that were made in the area during the late 1970s and 1980s provided an important reference base. The study shows that subsistence farming has lost its dominant role in food provisioning due to the declining productivity of land, livestock losses, and the increasing shift of labour to non-farm sectors. Also rapid population growth has added to the pressure on land and other natural resources. Despite the increasing need for money for buying marketed foods and other necessities, the nutritional situation shows improvement and severe malnutrition has diminished. However, the long-term sustainability of this transformation raises concerns. Firstly, the food security situation continues to be fragile and prone to shocks such as adverse climatic conditions, crop failures and price hikes. Secondly, the commodification of the food system and livelihoods in general is linked to rapid environmental degradation in the area, particularly the loss of soil fertility and deforestation. The situation calls for efforts that take more determined and holistic approaches towards sustainable development of the rural food system with particular focus on the role and viability of small-scale farming.

Earnings management in the process of preparing corporate financial reports

Earnings management (EM) literature examines managers’ use of judgment in financial reporting and in structuring transactions to alter financial reports for a specific reason. Mainstream EM literature strongly concentrates on statistical research methodologies and it is driven by positive accounting theory. Although EM occurs in the process of preparing corporate financial reports, that process has so far largely remained a “black box” in prior literature. The purpose of this study is to analyze what EM is, how and why it unfolds and how it is intertwined in the process of preparing corporate financial reports. In order to meet the needs of the study, a qualitative case study method will be used. The contribution of this study is threefold. First, it indicates that the concept of EM is not as unam-biguous as the prior literature has assumed. I find that EM is socially constructed and more open to interpretation than absolutely dichotomous conception given by previous studies. Second, this study contributes to our knowledge of the role and the importance of actors involved in conducting EM, indicating that EM is much more actor-dependent than the prior literature has assumed. Third, this study broadens our knowledge base with regard to the processes and potential for EM in academic research.

The role of advance payments in working capital management and profitability

The objective of this thesis is to study the role of received advance payments in working capital management by creating a new measurement and to study the relationship between advance payments and profitability. The study has been conducted using narrative literature review and quantitative research methods. The research was made analyzing 108 companies listed in Helsinki Stock Exchange. The results indicate that 68 % of the studied companies are receiving advance payments and the average cycle time for received advance payments is 13 days. A new key figure is created to include received advance payments into the calculation of working capital. Received advance payments shorten the working capital cycle, by 13 days, when they are used in the calculation. The role of advance payments is not as significant as the role of receivables and inventories but advance payments may have a larger role than payables if the company is receiving noticeable amounts of advance payments. There are three branches where companies are receiving more advance payments than average companies. The branches are project business and ICT and publishing sectors. There is a negative correlation between profitability and advance payments based on the results of this study.

Sähkögeneraattoriosien hitsauksen tuottavuuden kehittäminen

Hitsauksen tuottavuuteen vaikuttavat hitsausmäärä, käytetyt prosessit ja laatu. Työn teoriaosuudessa tutustutaan hitsauksen tuottavuuteen sekä suunnittelullisesta että valmistuksellisesta näkökulmasta. Hitsauksen laadulliset asiat, kuten laatustandardit ja vaatimukset käydään läpi keskittyen standardin SFS-EN ISO 3834 kattaviin laatuvaatimuksiin. Rikkomaton ja rikkova aineenkoetus ja yleisimmät hitsausvirheet esitetään yleisellä tasolla. Hitsausprosesseista esitetään MIG/MAG- ja MAG-täytelankahitsauksen sekä pulssihitsauksen perusteet. Tässä diplomityössä tutkitaan pulssihitsauksen soveltuvuutta sähkögeneraattorin staattoripaketin eripariliitoksen hitsaukseen ja kykyä parantaa sekä tuottavuutta että laatua. Tutkimus perustuu koehitsauksiin ja niiden perusteella tehtyihin johtopäätöksiin. Lisäksi pohditaan sisätuulettimien hitsauksen kehittämistä ja annetaan kehitysehdotus valmistusprosessista. Koehitsauksien perusteella pulssihitsaus on hyvä prosessiparannus staattoripakettien hitsaukseen. Kohdistettu valokaari ja alhaisempi lämmöntuonti verrattuna perinteiseen MAG-hitsaukseen sekä hitsauksen yksinkertaisuus tuovat etuja eripariliitoksen hitsauksen laatuun. Kustannuslaskelmien myötä hitsausprosessin muutoksen odotetaan tuovan kustannussäästöjä. Hitsauslaadun parantuessa ja jälkityöstön määrän vähentyessä hitsausprosessin muutos on kannattava.

On-line determination of residual collector concentration in flotation process

Valuable minerals can be recovered by using froth flotation. This is a widely used separation technique in mineral processing. In a flotation cell hydrophobic particles attach on air bubbles dispersed in the slurry and rise on the top of the cell. Valuable particles are made hydrophobic by adding collector chemicals in the slurry. With the help of a frother reagent a stable froth forms on the top of the cell and the froth with valuable minerals, i.e. the concentrate, can be removed for further processing. Normally the collector is dosed on the basis of the feed rate of the flotation circuit and the head grade of the valuable metal. However, also the mineral composition of the ore affects the consumption of the collector, i.e. how much is adsorbed on the mineral surfaces. Therefore it is worth monitoring the residual collector concentration in the flotation tailings. Excess usage of collector causes unnecessary costs and may even disturb the process. In the literature part of the Master’s thesis the basics of flotation process and collector chemicals are introduced. Capillary electrophoresis (CE), an analytical technique suitable for detecting collector chemicals, is also reviewed. In the experimental part of the thesis the development of an on-line CE method for monitoring the concentration of collector chemicals in a flotation process and the results of a measurement campaign are presented. It was possible to determine the quality and quantity of collector chemicals in nickel flotation tailings at a concentrator plant with the developed on-line CE method. Sodium ethyl xanthate and sodium isopropyl xanthate residuals were found in the tailings and slight correlation between the measured concentrations and the dosage amounts could be seen.

Culture change in academia: Making sharing the new norm

Presentation at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014

Asiakaskokemuksen vaikutus liiketoimintaprosessien kehittämiseen

Tämä diplomityö toteutettiin Auto-Kilta Trucks Oy:lle. Tutkimus toteutettiin kvalitatiivisena tapaustutkimuksena. Tutkimuksessa käytettiin havainnointia ja perehdyttiin nykyisiin prosessikuvauksiin. Lähivuosina yrityksessä tulee tapahtumaan asiakasrajapinnassa eläköitymisiä eikä samanlaista ammatillista kokemusta ole helposti saatavilla. Taloudellinen tilanne ei mahdollista lisäresurssien palkkaamista vaan yrityksen asiakasrajapintaan tulee saada yrityksen sisältä voimavaroja. Yrityksen mekaanikoista on tarkoitus saada ratkaisu asiakasrajapinnassa tapahtuviin muutoksiin. Asiakaskokemuksen kautta haetaan ymmärrystä oman toiminnan kehittämiseen. Liiketoimintaprosessien tulee tukea asiakaskokemuksen luomista. Muutosjohtamisen keinoin on tarkoitus viedä prosesseihin muutos työskentelytavoista sekä saada työntekijät ajattelemaan asiakaslähtöisesti. Lopputuloksena esitetään asiakasrajapintaan uusi prosessimalli, joka tukee asiakaskokemuksen luomista. Yrityksessä on tärkeää ymmärtää asiakkaan oikea tarve käyttää yrityksen palveluja.

The way to organizational longevity - Balancing stability and change in Shinise firms

THE WAY TO ORGANIZATIONAL LONGEVITY – Balancing stability and change in Shinise firms The overall purpose of this dissertation is to investigate the secret of longevity in Shinise firms. On the basic assumption that organizational longevity is about balancing stability and change, the theoretical perspectives incorporate routine practice, organizational culture, and organizational identity. These theories explain stability and change in an organization separately and in combination. Qualitative inductive theory building was used in the study. Overall, the empirical data comprised 75 in-depth and semi-structured interviews, 137 archival materials, and observations made over 17 weeks. According to the empirical findings, longevity in Shinise firms is attributable to the internal mechanisms (Shinise tenacity, stability in motion, and emergent change) to secure a balance between stability and change, the continuing stability of the socio-cultural environment in the local community, and active interaction between organizational and local cultures. The contribution of the study to the literature on organizational longevity and the alternative theoretical approaches is first, in theorizing the mechanisms of Shinise tenacity and cross-level cultural dynamism, and second, in pointing out the critical role of: the way firms set their ultimate goal, the dynamism in culture, and the effect of history of the firm to the current business in securing longevity. KEY WORDS Change; Culture; Organizational identity; Organizational longevity; Routines; Shinise firms; Stability; Qualitative research