Contextuality in SME Ownership – Studies on Owner-managers’ Ownership Behavior

The purpose of this study is to deepen the understanding of the meaning of ownership in the context of small and medium sized businesses. The research on ownership has increased and widened during the last few years. Ownership is treated increasingly as a psychological phenomenon and it has been noticed that it is common for SME ownermanagers to be mentally linked to their firms. Previous research is suggesting that the central role of an owner-manager in an SME is specifying the concept of SMEs, and that ownership is creating a great heterogeneity within SMEs. This study suggests that there is a variation whitin ownership behaviour of small business owners, and the variation is not totally random or irrational, but following the general patterns of business ownership and of doing business on an SME level. This study is a concept analytical in nature and it builds on the theoretical clarification of the concept of ownership. The theoretical consideration concludes with proposing a definition of ownership: Ownership means a subject’s relatively sustaining position of control in regard to an object. The empirical part of this study consists of five articles, out of which one is conceptual and four are empirical in nature. The notion of contextuality of ownership and the notions of SME characteristics form the basic premise of this study and the theoretical basis for the publications. From the owner-managers point of view, ownership relates the owner also to his or her environment and therefore also to the valuations of the owner-managers. This means that all the dimensions are not equally valued, but certain dimensions in his or her ownership are more important. The presented empirical research is supporting the claim that there is a variation whitin ownership behaviour of small business owners. When bringing the definition of ownership onto a personal and psychological level and into the SME context, it was noticed that ownership is not only a closed system phenomenon occurring between the owner and object owned, but it is also elementarily connected to the environment. Ownership - along with the psychological side of it - is a contextual phenomenon where the fundamental factor is the relatively sustaining position of control with regard to an object. As a contribution of the study, this definition is bringing a new point of view to the discussion on SMEs, SME strategic behaviour and family businesses. The study concludes with pointing out directions for future research.

Optimization of wind blade design including its energetic characteristics

The goal of the Master’s thesis is to develop and to analyze the optimization method for finding a geometry shape of classical horizontal wind turbine blades based on set of criteria. The thesis develops a technique that allows the designer to determine the weight of such factors as power coefficient, sound pressure level and the cost function in the overall process of blade shape optimization. The optimization technique applies the Desirability function. It was never used before in that kind of technical problems, and in this sense it can claim to originality of research. To do the analysis and the optimization processes more convenient the software application was developed.

Muotin suunnittelu- ja valmistusprossin parantaminen solumuoviteollisuudessa

Diplomityö tehtiin Pohjoismainen Solumuovi Oy:lle. Tutkimusongelmaksi määriteltiin hyvin selkeästi tiedon puute muottien suunnittelusta sekä valmistuksesta. Työn tavoite oli parantaa solumuovituotteiden valmistuksessa käytettävien muottien laatua. Työn rajaus asettuu uusien muottien suunnittelu- ja valmistusprosessin parantamiseen. Työssä käsiteltiin tämän prosessin lisäksi mm. mallisuunnittelua, sekä koneen ja prosessien ominaisuuksia niiden muoteille asettamien vaatimusten pohjalta. Muottien ominaisuuksien oikeaoppinen suunnittelu on erittäin tärkeässä roolissa tulevien tuotantokustannusten muodostumisessa. Oikeaoppisella suunnittelulla tarkoitetaan työssä muottien eri osa-alueiden toisiinsa kytkeytymisen ymmärtämistä, niin muotin toimivuuden, lopputuotteen laadun sekä muotin tehokkuuden kannalta. Muottien ominaisuudet määräävät ideaalitilanteessa pitkälti koneiden sykliaikoja käytettävän raaka-aineen ja kappaleen dimensioiden lisäksi. Tämän vuoksi tilanteessa, jossa itse kone toimii moitteettomasti vakuumin, materiaalinsyötön, jäähdytyksen ja höyrytyksen osalta, saadaan muotin oikeaoppisella suunnittelulla lyhennettyä sykliaikoja ja vähennettyä virhekappaleiden määrää. Solumuovimuotin suunnitteluperiaatteita on lähes yhtä monta kuin suunnittelijoita. Mitään yksittäistä periaatetta ei voida suoraan tuomita vääränä, koska näillä muoteilla pystytään valmistamaan laadun kriteerit täyttäviä tuotteita. Useimmat suunnitteluperiaatteet pohjautuvat kuitenkin vain tietyn osa-alueen hallintaan, jonka jälkeen loput osa-alueet suunnitellaan tämän ehdoilla. Työssä saatujen tulosten pohjalta voidaan sanoa, että muotin tuottavuus on erityisesti kiinni kokonaisuudesta, ei yksittäisestä osa-alueesta.

Solution marketing characteristics and practices

The first objective of this master's thesis is to find out how the concepts solution and solution marketing are defined in the literature. In order to do so, solution marketing literature is reviewed widely. Another target is to identify the characteristics of solution marketing and to explain how solution marketing can be carried out. The final objective is to determine how well the described solution marketing practices are executed in the target company, and this will be studied with a survey. A solution can be described as a co-created and customized combination of products and services. Solution marketing aims at developing and anticipating customer's business needs and it involves close collaboration between customer and supplier. Solution marketing communication is targeted to a specific audience. It entails deep customer intimacy and is focused on understanding customer's business problem. Solution marketing also requires close collaboration between sales and marketing as well as customer focused mindset. Solution marketing can be executed by promoting thought leadership, presenting solution offering, creating close customer relationships and treating customers as individuals. Solution provider's whole organization must engage customer focus.

The Effects of Some Furnish and Paper Structure Related Factors on Wet Web Tensile and Relaxation Characteristics

The objective of this thesis was to identify the effects of different factors on the tension and tension relaxation of wet paper web after high-speed straining. The study was motivated by the plausible connection between wet web mechanical properties and wet web runnability on paper machines shown by previous studies. The mechanical properties of wet paper were examined using a fast tensile test rig with a strain rate of 1000%/s. Most of the tests were carried out with laboratory handsheets, but samples from a pilot paper machine were also used. The tension relaxation of paper was evaluated as the tension remaining after 0.475 s of relaxation (residual tension). The tensile and relaxation properties of wet webs were found to be strongly dependent on the quality and amount of fines. With low fines content, the tensile strength and residual tension of wet paper was mainly determined by the mechanical interactions between fibres at their contact points. As the fines strengthen the mechanical interaction in the network, the fibre properties also become important. Fibre deformations caused by the mechanical treatment of pulp were shown to reduce the mechanical properties of both dry and wet paper. However, the effect was significantly higher for wet paper. An increase of filler content from 10% to 25% greatly reduced the tensile strength of dry paper, but did not significantly impair wet web tensile strength or residual tension. Increased filler content in wet web was shown to increase the dryness of the wet web after the press section, which partly compensates for the reduction of fibrous material in the web. It is also presumable that fillers increase entanglement friction between fibres, which is beneficial for wet web strength. Different contaminants present in white water during sheet formation resulted in lowered surface tension and increased dryness after wet pressing. The addition of different contaminants reduced the tensile strength of the dry paper. The reduction of dry paper tensile strength could not be explained by the reduced surface tension, but rather on the tendency of different contaminants to interfere with the inter-fibre bonding. Additionally, wet web strength was not affected by the changes in the surface tension of white water or possible changes in the hydrophilicity of fibres caused by the addition of different contaminants. The spraying of different polymers on wet paper before wet pressing had a significant effect on both dry and wet web tensile strength, whereas wet web elastic modulus and residual tension were basically not affected. We suggest that the increase of dry and wet paper strength could be affected by the molecular level interactions between these chemicals and fibres. The most significant increases in dry and wet paper strength were achieved with a dual application of anionic and cationic polymers. Furthermore, selectively adding papermaking chemicals to different fibre fractions (as opposed to adding chemicals to the whole pulp) improved the wet web mechanical properties and the drainage of the pulp suspension.

Characteristics of credit risk assessment methods of major Nordic banks in allocating capital when extending credits to large corporations

Credit risk assessment is an integral part of banking. Credit risk means that the return will not materialise in case the customer fails to fulfil its obligations. Thus a key component of banking is setting acceptance criteria for granting loans. Theoretical part of the study focuses on key components of credit assessment methods of Banks in the literature when extending credits to large corporations. Main component is Basel II Accord, which sets regulatory requirement for credit risk assessment methods of banks. Empirical part comprises, as primary source, analysis of major Nordic banks’ annual reports and risk management reports. As secondary source complimentary interviews were carried out with senior credit risk assessment personnel. The findings indicate that all major Nordic banks are using combination of quantitative and qualitative information in credit risk assessment model when extending credits to large corporations. The relative input of qualitative information depends on the selected approach to the credit rating, i.e. point-in-time or through-the-cycle.

Crystallization characteristics of bioactive glasses

Bioactive glasses are excellent candidates for implant materials, because they can form a chemical bond to bone or guide bone growth, depending on the glass composition. Some compositions have even shown soft tissue attachment and antimicrobial effects. So far, most clinical applications are based on monoliths, plates and particulates of different grain sizes. There is a growing interest in special products such as porous implants sintered from microspheres and fibers drawn from preforms or glass melts. The viscosity range at which these are formed coincides with the crystallization temperature range for most bioactive glasses, thus complicating the manufacturing process. In this work, the crystallization tendency and its kinetics for a series of glasses with their compositions within the range of bioactivity were investigated. The factors affecting crystallization and how it is related to composition were studied by means of thermal analysis and hot stage microscopy. The crystal compositions formed during isothermal and non-isothermal heat treatments were analyzed with SEM-EDXA and X-ray diffraction analysis. The temperatures at which sintering and fiber drawing can take place without interfering with crystallization were determined and glass compositions which are suitable for these purposes were established. The bioactivity of glass fibers and partly crystallized glass plates was studied by soaking them in simulated body fluid (SBF). The thickness of silica, calcium and phosphate rich reaction layers on the glass surface after soaking was used as an indication of the bioactivity. The results indicated that the crystallization tendencies of the experimental glasses are strongly dependent on composition. The main factor affecting the crystallization was found to be the alkali oxide content: the higher the alkali oxide content the lower the crystallization temperature. The primary crystalline phase formed at low temperatures in these glasses was sodium calcium silicate. The crystals were found to form through internal nucleation, leading to bulk crystallization. These glasses had high bioactivity in vitro. Even when partially crystalline, they formed typical reaction layers, indicating bioactivity. In fact, sodium calcium silicate crystals were shown to transform in vitro into hydroxyapatite during soaking. However, crystallization should be avoided because it was shown to retard dissolution, bioactivity reactions and complicate fiber drawing process. Glass compositions having low alkali oxide content showed formation of wollastonite crystals on the surface, at about 300°C above the glass transition temperature. The wide range between glass transition and crystallization allowed viscous flow sintering of these compositions. These glasses also withstood the thermal treatments required for fiber drawing processing. Precipitation of calcium and phosphate on fibers of these glasses in SBF suggested that they were osteoconductive. Glasses showing bioactivity crystallize easily, making their hot working challenging. Undesired crystallization can be avoided by choosing suitable compositions and heat treatment parameters, allowing desired product forms to be attained. Small changes in the oxide composition of the glass can have large effects and therefore a thorough understanding of glass crystallization behavior is a necessity for a successful outcome, when designing and manufacturing implants containing bioactive glasses.

Teollisuuden jäähdytysjärjestelmät. Case: Kaasunerotuslaitteiston evaluointi

Teollisuuden jäähdytysjärjestelmiä tarvitaan prosessien lämpötilan ja paineen hal-litsemiseen. Vesi on käytetyin lämmönsiirtoaine hyvän saatavuutensa, halvan hin-nan ja korkean lämmönsiirtokyvyn ansiosta. Jäähdytysjärjestelmät jaetaan kolmeen päätyyppiin, joita ovat läpivirtausjäähdytys, suljettu ja avoin kiertojäähdytys. Kullakin järjestelmätyypillä on tyypilliset alatyyppinsä. Avoimella kiertojär-jestelmällä on eniten alatyyppejä, joista yleisin on jäähdytystorni. Jäähdytystorneja on kolmea tyyppiä: märkä-, kuiva ja hybriditorni. Kullakin järjestelmätyypillä on ominaiset piirteensä käyttökohteiden, ympäristövaikutusten, ohjattavuuden, investointi- ja käyttökulujen suhteen, joita tässä työssä esitellään. Työssä tutkitaan teollisuuden jäähdytysjärjestelmien esittelyn lisäksi erään ali-painekaasunpoistimen soveltuvuutta suljetun kiertojäähdytysjärjestelmän kaasun-poistoon. Suljettuun kiertojäähdytysjärjestelmään jää ilmaa täyttövaiheessa ja kul-keutuu liuenneena käytettävän jäähdytysveden mukana. Muodostuva ylikylläinen seos synnyttää veden sekaan ilmakuplia, jotka aiheuttavat korroosiota kemiallisesti ja kuluttamalla. Lisäksi kaasukuplat vievät tilavuutta nesteeltä. Tämä pienentää järjestelmän jäähdytystehoa merkittävästi, koska kaasun lämmönsiirtokyky verrat-tuna veden lämmönsiirtokykyyn on pieni. Työssä esitellään myös muita mahdolli-sia suljetun järjestelmän kaasulähteitä ja niiden aiheuttamia ongelmia. Alipainekaasunpoistimen kaasunerotustehokkuutta mitattiin jäähdytysvesinäyttei-den selkeytymisnopeudella ja lämmönsiirtimien tehon paranemisella. Kahden viikon tarkastelujaksolla selkeytymisajat paranivat 36–60 % eri mittauspaikoissa ja lämmönsiirtimien tehot paranivat 6–29 %. Järjestelmään kuitenkin jäi merkittävä määrä kaasua, vaikka laitteen käyttöä jatkettiin tarkastelujakson jälkeen, joten tavoitteisiin ei päästy. Tutkitun alipainekaasunpoistolaitteen ei todettu soveltuvan tehdasympäristöön kestämättömyyden, hankalakäyttöisyyden ja tehottomuuden takia. Tulokset kuitenkin osoittavat, että kaasunerotuksella on merkittävä vaikutus suljetun jäähdytysjärjestelmän toimivuuteen ja saavutettavaan jäähdytystehoon.

Finnish Critical Industries, Maritime Transport Vulnerabilities and societal Implications

Maritime transports are very essential for Finland as over 80% of the foreign trade in the country is seaborne and possibilities to carry out these transports by are limited. Any disruption in maritime transports has negative consequences to many sectors in the Finnish economy. Maritime transport thus represents critical infrastructure for Finland. This report focuses on the importance of maritime transports on security of supply in Finland and for the so called critical industries in particular. The report summarizes the results of the Work Package 2 of the research project STOCA – “Study of cargo flows in the Gulf of Finland in emergency situations”. The aim of the research was to analyze the cargo flows and infrastructure that are vital for maintaining security of supply in Finland, as well as the consequences of disruptions in the maritime traffic for the Finnish critical industries and for the Finnish society. In the report we give a presentation of the infrastructure and transport routes which are critical for maintaining security of supply in Finland. We discuss import dependency of the critical industries, and the importance of the Gulf of Finland ports for Finland. We assess vulnerabilities associated with the critical material flows of the critical industries, and possibilities for alternative routings in case either one or several of the ports in Finland would be closed. As a concrete example of a transport disruption we analyze the consequences of the Finnish stevedore strike at public ports (4.3.–19.3.2010). The strike stopped approximately 80% of the Finnish foreign trade. As a result of the strike Finnish companies could not export their products and/or import raw materials, components and spare parts, or other essential supplies. We carried out personal interviews with representatives of the companies in Finnish critical industries to find out about the problems caused by the strike, how companies carried out they transports and how they managed to continue their operations during the strike. Discussions with the representatives of the companies gave us very practical insights about companies’ preparedness towards transport disruptions in general. Companies in the modern world are very vulnerable to transport disruptions because companies regardless of industries have tried to improve their performance by optimizing their resources and e.g. by reducing their inventory levels. At the same time they have become more and more dependent on continuous transports. Most companies involved in foreign trade have global operations and global supply chains, so any disruption anywhere in the world can have an impact on the operations of the company causing considerable financial loss. The volcanic eruption in Iceland in April 2010 stopping air traffic in the whole Northern Europe and most recently the earth quake causing a tsunami in Japan in March 2011 are examples of severe disruptions causing considerable negative impacts to companies’ supply chains. Even though the Finnish stevedore strike was a minor disruption compared to the natural catastrophes mentioned above, it showed the companies’ vulnerability to transport disruptions very concretely. The Finnish stevedore strike gave a concrete learning experience of the importance of preventive planning for all Finnish companies: it made them re-think their practical preparedness towards transport risks and how they can continue with their daily operations despite the problems. Many companies realized they need to adapt their long-term countermeasures against transport disruptions. During the strike companies did various actions to secure their supply chains. The companies raised their inventory levels before the strike began, they re-scheduled or postponed their deliveries, shifted customer orders between production plants among their company’s production network or in the extreme case bought finished products from their competitor to fulfil their customers’ order. Our results also show that possibilities to prepare against transport disruptions differ between industries. The Finnish society as a whole is very dependent on imports of energy, various raw materials and other supplies needed by the different industries. For many of the Finnish companies in the export industries and e.g. in energy production maritime transport is the only transport mode the companies can use due to large volumes of materials transported or due to other characteristics of the goods. Therefore maritime transport cannot be replaced by any other transport mode. In addition, a significant amount of transports are concentrated in certain ports. From a security of supply perspective attention should be paid to finding ways to decrease import dependency and ensuring that companies in the critical industries can ensure the continuity of their operations.