The role of management accounting systems and venture capital investors for start-up firms

The role of star-up firms in economy and the importance of venture capital investors for the growth of start-up firms have been highlighted in recent years. The growth challenges of start-up firms consist of fast changing environment, the availability of venture capital funding and the development of firm management in the growth phase. A growing number of studies have focused on management accounting systems and venture capital in start-up and growth firm context. In this thesis the role of management accounting systems and venture capital investors is considered in the growth phase of firm development. The theoretical objective of this thesis is to construct a theoretical framework in order to describe the importance of management accounting systems and venture capital investors in start-up firms. The practice orientated objective of this thesis is to study the application of management accounting systems and management accounting based information in start-up firms in high-technology industry as well as the impact of venture capital for management accounting system design. In addition, the growth challenges of start-up firms are studied in order to understand the context in which management accounting systems are used. The research approach of theoretical part is conceptual as the theoretical framework is constructed by combining literature on firm growth, management accounting and venture finance in order to analyse the phenomenon. The action-orientated research approach is appropriate for analysing and describing of the studied phenomenon through empirical evidence. The empirical evidence was collected through interviews with three experts in start-up firm accelerator centers, four representatives of start-up firms and one venture capital investor. The results indicate that the growth challenges of stat-up firms are not related to the development of management accounting systems. Managers of start-up firms expressed a positive attitude towards management accounting systems that improve efficiency of operations. In start-up firms flexible and adjustable management accounting practices, such as budgets, cash flow calculations and future-orientated analysis tools, are applied that support planning and coordination of operations. The results indicate that venture capital investors affect the provision and the quality of management accounting information during the investment process. In addition, venture capital investors enhance the use of management accounting information for internal coordination in start-up firms. By applying the theoretical framework in the analysis, it can be stated that by acting as support function management accounting systems facilitate start-up firms development.

On sliding mode control ofhydraulic servo systems and a manipulator

The aim of the study is to developa novel robust controller based on sliding mode control technique for the hydraulic servo system with flexible load and for a flexible manipulator with the lift and jib hydraulic actuators. For the purpose of general control design, a dynamic model is derived describing the principle physical behavior for both the hydraulic servo system and the flexible hydraulic manipulator. The mechanism of hydraulic servo systems is described by basic mathematical equations of fluid powersystems and the dynamics of flexible manipulator is modeled by the assumed modemethod. The controller is constructed so as to track desired trajectories in the presence of model imprecision. Experimental and simulation results demonstratethat sliding mode control has benefits which can be used to guarantee stabilityin uncertain systems and improve the system performance and load tolerance.

Mass transfer and particleinteractions in granular systems and suspension flows

The purpose of this study was to investigate some important features of granular flows and suspension flows by computational simulation methods. Granular materials have been considered as an independent state ofmatter because of their complex behaviors. They sometimes behave like a solid, sometimes like a fluid, and sometimes can contain both phases in equilibrium. The computer simulation of dense shear granular flows of monodisperse, spherical particles shows that the collisional model of contacts yields the coexistence of solid and fluid phases while the frictional model represents a uniform flow of fluid phase. However, a comparison between the stress signals from the simulations and experiments revealed that the collisional model would result a proper match with the experimental evidences. Although the effect of gravity is found to beimportant in sedimentation of solid part, the stick-slip behavior associated with the collisional model looks more similar to that of experiments. The mathematical formulations based on the kinetic theory have been derived for the moderatesolid volume fractions with the assumption of the homogeneity of flow. In orderto make some simulations which can provide such an ideal flow, the simulation of unbounded granular shear flows was performed. Therefore, the homogeneous flow properties could be achieved in the moderate solid volume fractions. A new algorithm, namely the nonequilibrium approach was introduced to show the features of self-diffusion in the granular flows. Using this algorithm a one way flow can beextracted from the entire flow, which not only provides a straightforward calculation of self-diffusion coefficient but also can qualitatively determine the deviation of self-diffusion from the linear law at some regions nearby the wall inbounded flows. Anyhow, the average lateral self-diffusion coefficient, which was calculated by the aforementioned method, showed a desirable agreement with thepredictions of kinetic theory formulation. In the continuation of computer simulation of shear granular flows, some numerical and theoretical investigations were carried out on mass transfer and particle interactions in particulate flows. In this context, the boundary element method and its combination with the spectral method using the special capabilities of wavelets have been introduced as theefficient numerical methods to solve the governing equations of mass transfer in particulate flows. A theoretical formulation of fluid dispersivity in suspension flows revealed that the fluid dispersivity depends upon the fluid properties and particle parameters as well as the fluid-particle and particle-particle interactions.

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.

Experiences in using a structured method in finding and defining new innovations: the strategic options approach

Investment decision-making on far-reaching innovation ideas is one of the key challenges practitioners and academics face in the field of innovation management. However, the management practices and theories strongly rely on evaluation systems that do not fit in well with this setting. These systems and practices normally cannot capture the value of future opportunities under high uncertainty because they ignore the firm’s potential for growth and flexibility. Real options theory and options-based methods have been offered as a solution to facilitate decision-making on highly uncertain investment objects. Much of the uncertainty inherent in these investment objects is attributable to unknown future events. In this setting, real options theory and methods have faced some challenges. First, the theory and its applications have largely been limited to market-priced real assets. Second, the options perspective has not proved as useful as anticipated because the tools it offers are perceived to be too complicated for managerial use. Third, there are challenges related to the type of uncertainty existing real options methods can handle: they are primarily limited to parametric uncertainty. Nevertheless, the theory is considered promising in the context of far-reaching and strategically important innovation ideas. The objective of this dissertation is to clarify the potential of options-based methodology in the identification of innovation opportunities. The constructive research approach gives new insights into the development potential of real options theory under non-parametric and closeto- radical uncertainty. The distinction between real options and strategic options is presented as an explanans for the discovered limitations of the theory. The findings offer managers a new means of assessing future innovation ideas based on the frameworks constructed during the course of the study.

Making Sense of Shared Leadership. A case study of leadership processes and practices without formal leadership structure in the team context

Leadership is essential for the effectiveness of the teams and organizations they are part of. The challenges facing organizations today require an exhaustive review of the strategic role of leadership. In this context, it is necessary to explore new types of leadership capable of providing an effective response to new needs. The presentday situations, characterized by complexity and ambiguity, make it difficult for an external leader to perform all leadership functions successfully. Likewise, knowledge-based work requires providing professional groups with sufficient autonomy to perform leadership functions. This study focuses on shared leadership in the team context. Shared leadership is seen as an emergent team property resulting from the distribution of leadership influence across multiple team members. Shared leadership entails sharing power and influence broadly among the team members rather than centralizing it in the hands of a single individual who acts in the clear role of a leader. By identifying the team itself as a key source of influence, this study points to the relational nature of leadership as a social construct where leadership is seen as social process of relating processes that are co-constructed by several team members. Based on recent theoretical developments concerned with relational, practice-based and constructionist approaches to the study of leadership processes, this thesis proposes the study of leadership interactions, working processes and practices to focus on the construction of direction, alignment and commitment. During the research process, critical events, activities, working processes and practices of a case team have been examined and analyzed with the grounded theory –approach in the terms of shared leadership. There are a variety of components to this complex process and a multitude of factors that may influence the development of shared leadership. The study suggests that the development process of shared leadership is a common sense -making process and consists of four overlapping dimensions (individual, social, structural, and developmental) to work with as a team. For shared leadership to emerge, the members of the team must offer leadership services, and the team as a whole must be willing to rely on leadership by multiple team members. For these individual and collective behaviors to occur, the team members must believe that offering influence to and accepting it from fellow team members are welcome and constructive actions. Leadership emerges when people with differing world views use dialogue and collaborative learning to create spaces where a shared common purpose can be achieved while a diversity of perspectives is preserved and valued. This study also suggests that this process can be supported by different kinds of meaning-making and process tools. Leadership, then, does not reside in a person or in a role, but in the social system. The built framework integrates the different dimensions of shared leadership and describes their relationships. This way, the findings of this study can be seen as a contribution to the understanding of what constitutes essential aspects of shared leadership in the team context that can be of theoretical value in terms of advancing the adoption and development process of shared leadership. In the real world, teams and organizations can create conditions to foster and facilitate the process. We should encourage leaders and team members to approach leadership as a collective effort that the team can be prepared for, so that the response is rapid and efficient.

A Case Study of Agile Software Engineering Methods and Practices in the MeeGo Harmattan Open Source and Product Context

The aim of this master’s thesis is to study how Agile method (Scrum) and open source software are utilized to produce software for a flagship product in a complex production environment. The empirical case and the used artefacts are taken from the Nokia MeeGo N9 product program, and from the related software program, called as the Harmattan. The single research case is analysed by using a qualitative method. The Grounded Theory principles are utilized, first, to find out all the related concepts from artefacts. Second, these concepts are analysed, and finally categorized to a core category and six supported categories. The result is formulated as the operation of software practices conceivable in circumstances, where the accountable software development teams and related context accepts a open source software nature as a part of business vision and the whole organization supports the Agile methods.

Mapping the translation needs and practices in development co-operation projects of NGOs

Tämän pro gradu -tutkielman aiheena on kääntäminen ja viestintä vieraalla kielellä Suomen ulkoasiainministeriön rahoittamissa kansalaisjärjestöjen kehitysyhteistyöhankkeissa. Tutkielman on tarkoitus kartoittaa kyseisten kehitysyhteistyöhankkeiden kääntämiseen ja vieraskieliseen viestintään liittyviä tarpeita ja -käytäntöjä. Aihetta ei ole tutkittu laajasti muutoin, joten empiirinen osuus on erityisen merkittävässä roolissa. Tutkielman alussa esitellään ulkoasiainministeriön laatimia suomalaisten kansalaisjärjestöjen kehitysyhteistyöhankkeiden ehtoja ja ohjeita, jotka ovat kyseiselle tutkimukselle olennaisia. Tutkielman teoreettinen osuus koostuu lähinnä metodologisesta pohdinnasta, koska aiempaa tutkimustietoa on vähän. Tutkimusmetodien analysointia on painotettu myös siksi, että empiirisellä osuudella on niin suuri merkitys. Tutkielman empiirinen aineisto on yhtäältä peräisin tutkijan havainnoista, jotka saatiin omia varhaisempia hankehallinnointikokemuksia hyödyntäen sekä osallistuvan havainnoinnin menetelmää käyttäen kahden opiskelijajärjestön kehitysyhteistyöhankkeista vuosien 2009 ja 2012 välisenä aikana. Toisaalta aineisto on kerätty kyselytutkimuksen vastauksista. Kysely lähetettiin 35 suomalaiselle kansalaisjärjestölle, joiden kehitysyhteistyöhankkeita Suomen ulkoasiainministeriö rahoittaa. Järjestöt valittiin satunnaisotannalla. Empiirisen aineiston analyysistä ilmeni muun muassa, että tutkijan alkuperäinen hypoteesi kehitysyhteistyöhön liittyvien tekstien kääntämisen yleisyydestä pitää osittain paikkansa, vaikka tekstejä käännettiinkin kansalaisjärjestöissä vähemmän kuin tutkija odotti. Tutkimusaineisto ei ole kuitenkaan tarpeeksi laaja, jotta tuloksia voitaisiin yleistää, sillä kansalaisjärjestöt, niiden hankkeet, käännöstarpeet ja asiantuntemus osoittautuivat odotetusti hyvin erilaisiksi. Tulokset sisältävät asiaa myös esimerkiksi järjestöissä kääntävien ja vieraalla kielellä viestivien taustoista. Jatkotutkimukset ovat kuitenkin tarpeen, ja mahdollisia tutkimusaiheita on runsaasti.

Expectations, frames and practices of genetic counselling in different contexts of genetic testing

Genetic counselling is a process in which the counsellee receives information and support concerning a genetic disease. This study examines the genetic counselling attached to genetic testing. Since genetic information is increasing alongside new testing technologies and the situations faced at the genetic clinics will therefore be more diverse, it is essential to assess what the expectations directed at genetic counselling are. It is also important to compare how they face the current counselling practices. In this study, the expectations, frames and practices of genetic counselling in different contexts of genetic testing were examined from three different perspectives: First, international guidelines covering genetic counselling were analysed to summarise what is expected from genetic counselling and to study how genetic information is framed. Second, national experts in European countries were asked about the regulations and practices of genetic counselling in their country. Finally, ten counsellees who had visited a genetic clinic were interviewed to analyse their expectations and experiences. The counsellees’ perspective was also approached through the background review of the previous studies on counsellees’ experiences. On the basis of the study, there are basic elements that are expected to be covered in genetic counselling from all perspectives. However, the views concerning bioethics, genetic exceptionalism and psychosocial aspects vary depending on the perspective and on the individual situation. Since there are sometimes more differences than similarities between genetic tests, no universal recommendations for counselling can be applied. The practices of genetic counselling should be defined situationally, emphasising the individual needs over the genes.

Conditions and practices in the commercialisation of innovations in wood industry

The report 'Conditions and practices in the commercialisation of innovation in wood industry' has been written as a part of the Wood Academy project. The report analyses the commercialisation conditions and practices of wood industry by utilising product categorisation based on a conceptual schema which combines the aspects of the transfer of the procession of utility and the degree of form/service utility (or value-added) created or provided by the company. Open innovation approaches help to perceive the possible new product and service innovations as well as the new business models and earning logics in the industry. The report also contains brief company cases to demonstrate theory-to-practice and showcase company examples from successful Finnish companies.