Financial performance of segments in the intelligent home network

The goal of this study is to examine the intelligent home business network in order to determine which part of the network has the best financial abilities to produce new business models and products/services by using financial statement analysis. A group of 377 studied limited companies is divided into four examined segments based on their offering in producing intelligent homes. The segments are customer service providers, system integrators, subsystem suppliers and component suppliers. Eight different key figures are calculated from each of the companies to get a comprehensive view of their financial performances, after which each of the segments is studied statistically to determine the performances of the whole segments. The actual performance differences between the segments are calculated by using the multi-criteria decision analysis method in which the performances of the key figures are graded and each key figure is weighted according to its importance for the goal of the study. The results of this analysis showed that subsystem suppliers have the best financial performance. Second best are system integrators, third are customer service providers and fourth component suppliers. None of the segments were strikingly poor, but even component suppliers were rather reasonable in their performance; so, it can be said that no part of the intelligent home business network has remarkably inadequate financial abilities to develop new business models and products/services.

Influence of Link Structure on Search Engine Result Pages of Online Nursery Shops

The primary objective of this thesis is to assess how the backlink portfolio structure and off site Search Engine Optimisation (SEO) elements influence ranking of UK based online nursery shops. The growth of the internet use demanded significant effort from companies to optimize and increase their online presence in order to cope with the increasing online competition. The new e-Commerce technology - called Search Engine Optimisation - has been developed that helped increase website visibility of companies. The SEO process involves on site elements (i.e. changing the parameters of the company's website such as keywords, title tags and meta descriptions) and off site elements (link building and social media marketing activity). Link Building is based on several steps of marketing planning including keyword research and competitor analysis. The underlying goal of keyword research is to understand the targeted market through identifying relevant keyword queries that are used by targeted costumer group. In the analysis, three types (geographic, field and company’s strategy related) and seven sources of keywords has been identified and used as a base of analysis. Following the determination of the most popular keywords, allinanchor and allintitle search has been conducted and the first ten results of the searches have been collected to identify the companies with the most significant web presence among the nursery shops. Finally, Link Profiling has been performed where the essential goal was to understand to what extent other companies' link structure is different that the base company's backlinks. Significant difference has been found that distinguished the top three companies ranking in the allinanchor and allintitle search. The top three companies, „Mothercare”, „Mamas and Papas” and „Kiddicare” maintained significantly better metrics regarding domain and page authority on the main landing pages, the average number of outbound links for link portfolio metric and in number of backlinks. These companies also ranked among the highest in page authority distribution and followed external linking.

SOCIAL MEDIA IN INTERNATIONAL BRAND COMMUNICATION OF SMES - A multiple case study of small Finnish design-intensive companies

Social media is a rather new phenomenon which has revolutionised the world of online communication. However, academic research on how companies can benefit from social media is lacking. The research objective of this thesis was to examine the use of social media in international brand communication of small Finnish design-intensive companies. Therefore, this research contributes also to the research gap in SME branding. The focus was on communication targeted at consumers. The research was carried out as a mixed methods research employing the questionnaire and multiple case study methods. The questionnaire was used to gather preliminary information on Finnish design-intensive companies and to provide an eligible list of companies for deeper examination. Then, four case companies were studied in more depth. The empirical evidence of the case companies was mainly gathered through theme interviews. The results of the questionnaire shed light on the internationalisation of small Finnish designintensive companies. On average, the companies had internationalised rather quickly after they had been founded. However, the share of exports was rather low in most of the companies. The results revealed also that social media was already used widely in the exporting companies and the use can be expected to grow in future. The findings of the multiple case study suggest that branding activities in small Finnish designintensive companies are constrained by limited resources and skills. In addition, the branding activities are strongly guided by the vision and values of the entrepreneur(s) rather than extensive marketing research. The brand structure was simple in all case companies and they aimed at having a standardised brand image across markets. However, all case companies had faced a need for some adaptation of their international brand communication. Internationally important brand communication channels were international fairs, the internet, word-of-mouth and social media. Social media offered a cost-effective brand communication channel for the case companies. It was used for various purposes, such as creating brand awareness and affecting how the brand is perceived. The entrepreneurs found the use of social media to be rather easy and the case companies had not faced any major challenges. However, the companies had recognised that communication in social media requires consistency and planning. The planning was rather informal and stayed on a general level. Overall, the utilisation of social media in the case companies was limited by a lack of resources. It seemed to affect especially the follow-up of brand communication in social media which stayed rather superficial.

Organisational learning and knowledge acquisition. A case study of internationalising manufacturers of wood-based prefabricated buildings

The study investigates organisational learning and knowledge acquisition of wood-based prefabricated building manufacturers. This certain group of case companies was chosen, because their management and their employees generally have a strong manufacturing and engineering background, while the housing sector is characterised by national norms, regulations, as well as local building styles. Considering this setting, it was investigated, how the case companies develop organisational learning capabilities, acquire and transfer knowledge for their internationalisation. The theoretical framework of this study constitutes the knowledge-based conceptualisation of internationalisation, which combines the traditional internationalisation process, as well as the international new venture perspective based on their commonalities in the knowledge-based view of the firm. Different theories of internationalisation, including the network-perspective, were outlined and a framework on organisational learning and knowledge acquisition was established. The empirical research followed a qualitative approach, deploying a multiple-case study with five case companies from Austria, Finland and Germany. In the study, the development of the wood-based prefabricated building industry and of the case companies are described, and the motives, facilitators and challenges for foreign expansion, as well as the companies’ internationalisation approaches are compared. Different methods of how companies facilitate the knowledge-exchange or learn about new markets are also outlined. Experience, market knowledge and personal contacts are considered essential for the internationalisation process. The major finding of the study is that it is not necessary to acquire the market knowledge internally in a slow process as proposed by the Uppsala model. In four cases companies engaged knowledge in symbiotic relations with local business partners. Thereby, the building manufacturers contribute their design and production capabilities, and in return, their local partners provide them with knowledge about the market and local regulations; while they manage the sales and construction operations. Thus, the study provides strong evidence for the propositions of network perspective. One case company developed the knowledge internally in a gradual process: it entered the market sequentially with several business lines, showing an increasing level of complexity. In both of the observed strategies, single-loop and double-loop learning processes occurred.

The early activities of front end of innovation in oem companies using a new fei platform as a framework for renewal

The main goal of this study is to create a seamless chain of actions and more detailed structure to the front end of innovation to be able to increase the front end performance and finally to influence the renewal of companies. The main goal is achieved through by the new concept of an integrated model of early activities of FEI leading to a discovery of new elements of opportunities and the identification of new business and growth areas. The procedure offers one possible solution to a dynamic strategy formation process in innovation development cycle. In this study the front end of innovation is positioned between a strategy reviews and a concept creation with needed procedures, tools, and frameworks. The starting point of the study is that the origins of innovation are not well enough understood. The study focuses attention on the early activities of FEI. These first activities are conceptualized in order to find out successful innovation initiatives and strategic renewal agendas. A seamless chain of activities resulting in faster and more precise identification of opportunities and growth areas available on markets and inside companies is needed. Three case studies were conducted in order to study company views on available theory doctrine and to identify the first practical experiences and procedures in the beginning of the front end of innovation. Successful innovation requires focus on renewal in both internal and external directions and they should be carefully balanced for best results. Instead of inside-out mode of actions the studied companies have a strong outside-in thinking mode and they mainly co-develop their innovation initiatives in close proximity with customers i.e. successful companies are an integral part of customers business and success. Companies have tailor-made innovation processes combined their way of working linked to their business goals, and priorities of actual needs of transformation. The result of this study is a new modular FEI platform which can be configured by companies against their actual business needs and drivers. This platform includes new elements of FEI documenting an architecture presenting how the system components work together. The system is a conceptual approach from theories of emergent strategy formation, opportunity identification and creation, interpretation-analysis-experimentation triad and the present FEI theories. The platform includes new features compared to actual models of FEI. It allows managers to better understand the importance of FEI in the whole innovation development stage and FEI as a phase and procedure to discover and implement emergent strategy. An adaptable company rethinks and redirects strategy proactively from time to time. Different parts of the business model are changed to remove identified obstacles for growth and renewal which gives them avenues to find right reforms for renewal.

Identification of characteristics for successful university-company partnership development

The importance of university-company collaboration has increased during the last decades. The drivers for that are, on the one hand, changes in business logic of companies and on the other hand the decreased state funding of universities. Many companies emphasize joint research with universities as an enabling input to their development processes, which aim at creating new innovations, products and wealth. These factors have changed universities’ operations and they have adopted several practices of dynamic business organizations, such as strategic planning, monitoring and controlling methods of internal processes etc. The objective of this thesis is to combine different characteristics of successful university-company partnership and its development. The development process starts with identifying potential partners in the university’s interest group, which requires understanding the role of different partners in the innovation system. Next, in order to find a common development basis, matching the policy and strategy between partners is needed. The third phase is to combine the academic and industrial objectives of a joint project, which is a typical form of university-company collaboration. The optimum is a win-win situation where both partners, universities and companies, can get addedvalue. For the companies added value typically means access to new research results before their competitors. For the universities added value offers a possibility to carry on high level scientific work. The research output in the form of published scientific articles is evaluated by the international science community. Because the university-company partnership is often executed by joint projects, the different forms of this kind of projects is discussed in this study. The most challenging form of collaboration is a semi-open project model, which is not based on bilateral activities between universities and companies but on a consortium of several universities, research institutes and companies. The universities and companies are core actors in the innovation system. Thus the discussion of their roles and relations to public operators like publicly funded financiers is important. In the Finnish innovation system there are at least the following doers executing strategies and policies: EU, Academy of Finland and TEKES. In addition to these, Strategic Centres for Science, Technology and Innovation which are owned jointly by companies, universities and research organizations have a very important role in their fields of business. They transfer research results into commercial actions to generate wealth. The thesis comprises two parts. The first part consists of an overview of the study including introduction, literature review, research design, synthesis of findings and conclusions. The second part introduces four original research publications.

Integrating corporate responsbility into investor relations. Sustainability report as a part of investor relations.

Corporate responsibility is a question that many stakeholders are interested in. These stakeholders can be e.g. company’s employees, partners, clients, media or investors. Especially for listed companies, investors are one of the most important stakeholders. It is essential for a company to maintain the trust of current investors and gain the trust of potential investors. Investors cannot be divided only into two groups, individual and institutional investors. Investors differ a lot, especially when it comes to investment decisions. Investors can make their investment decisions based on many things, and strong financial performance is not necessarily good enough a reason. Socially responsible investors value responsibility and sustainability related factors when making investment decisions. These things can be divided into three dimensions: environmental, social and economic responsibility. Many companies disclose a sustainability report in order to be able to answer to the needs of different stakeholders, including investors. The purpose of this thesis was to study how companies integrate corporate responsibility into investor relations, and how sustainability report can be used in investor relations. Furthermore, this thesis examined the key elements of sustainability reports. The research was made by a qualitative study in two phases. In the first phase five representatives of two Finnish listed companies, KONE and Kesko were interviewed. The interviewees are professionals within investor relations and corporate responsibility communications. In the second phase of the study the sustainability reports of these two companies were analyzed with content analysis. The existing theory and the interviews created the base for the content analysis. This study suggests that there is a connection between corporate responsibility and investor relations, and those should be integrated. Socially responsible investors are an important target group for companies, and companies should be able to respond to their and other stakeholders’ needs. Sustainability report can be used as a tool both within the company and in external communication for these purposes.

Why are some companies more successful than others? An exploration into organizational culture and dynamic capabilities

Why are some companies more successful than others? This thesis approaches the question by enlisting theoretical frameworks that explain the performance with internal factors, deriving from the resource-based view, namely the dynamic capabilities approach. To deepen the understanding of the drivers and barriers towards developing these higher order routines aiming at improving the operational level routines, this thesis explores the organisational culture and identity research for the microfoundational antecedents that might shed light on the formation of the dynamic capabilities. The dynamic capabilities framework in this thesis strives to take the theoretical concept closer to practical applicability. This is achieved through creation of a dynamic capabilities matrix, consisting of four dimensions often encountered in dynamic capabilities literature. The quadrants are formed along internal-external and resources-abilities axes, and consist of Sensing, Learning, Reconfiguration and Partnering facets. A key element of this thesis is the reality continuum, which illustrates the different levels of reality inherent in any entity of human individuals. The theoretical framework constructed in the thesis suggests a link between the collective but constructivist understanding of the organisation and both the operational and higher level routines, evident in the more positivist realm. The findings from three different case organisations suggest that the constructivist assumptions inherent to an organisation function as a generative base for both drivers and barriers towards developing dynamic capabilities. From each organisation one core assumption is scrutinized to identify its connections to the four dimensions of the dynamic capabilities. These connections take the form of drivers or barriers – or have the possibility to develop into one or the other. The main contribution of this thesis is to show that one key for an organisation to perform well in a turbulent setting, is to understand the different levels of realities inherent in any group of people. Recognising the intangible levels gives an advantage in the tangible ones.