Uncertainty Management in Acquisitions: What Scenario Analysis Could Offer

This study answers to How scenario analysis could help acquiring companies to reduce uncertainty in the acquisition process? It is due to the mismatch between academic world’s caveat emptor and business world’s eagerness to pursue acquisitions that motivated this study. Acquisitions are as popular as ever, thus, managing the uncertainty surrounding these transactions is relevant. This study creates a generic theoretical model with a strategy-level scope. Thus, the study does not discuss nor does it seek answers to operational issues related in both fields. This study is explorative and constructivist in nature. It discusses briefly the concepts and relatedness of risk and uncertainty and establishes a hierarchy between these two: Risks being a “sub-section” of uncertainty, although not with clear boundaries. Acquisition theory follows the process view that understands acquisitions as a process with various levels – some strategic, some operational. Scenario analysis is presented as tool for management to enrich their strategic discussion and understand their future options. The empirical data collection is done through interviewing. The results are reflected on literature on strategic management, scenario literature, and on a consultancy’s report picturing firm’s strategies in accordance with their acquisition processes. The study has an abductive approach as it tries to combine multiple views and generates discussion between literature review, interviews, the report, and second round of literature. The model suggests three propositions: First, at the strategic decision making level, when the decision whether or not to pursue an acquisition growth strategy has been made, it provides firms new data and enriches the strategic discussion. Second, when the acquisition strategy has been created, it can be applied as a tool to measure possible acquisition targets against the backdrop of the first set of scenarios. Third, due to the scenario analysis’ requirement to include people with various backgrounds and from multiple levels of the corporate hierarchy, it could help managers to avoid biases stemming from hubris.

Fabrication and Pseudo-Analog Characteristics of Ta2O5 -Based ReRAM Cell

Memristori on yksi elektroniikan peruskomponenteista vastuksen, kondensaattorin ja kelan lisäksi. Se on passiivinen komponentti, jonka teorian kehitti Leon Chua vuonna 1971. Kesti kuitenkin yli kolmekymmentä vuotta ennen kuin teoria pystyttiin yhdistämään kokeellisiin tuloksiin. Vuonna 2008 Hewlett Packard julkaisi artikkelin, jossa he väittivät valmistaneensa ensimmäisen toimivan memristorin. Memristori eli muistivastus on resistiivinen komponentti, jonka vastusarvoa pystytään muuttamaan. Nimens mukaisesti memristori kykenee myös säilyttämään vastusarvonsa ilman jatkuvaa virtaa ja jännitettä. Tyypillisesti memristorilla on vähintään kaksi vastusarvoa, joista kumpikin pystytään valitsemaan syöttämällä komponentille jännitettä tai virtaa. Tämän vuoksi memristoreita kutsutaankin usein resistiivisiksi kytkimiksi. Resistiivisiä kytkimiä tutkitaan nykyään paljon erityisesti niiden mahdollistaman muistiteknologian takia. Resistiivisistä kytkimistä rakennettua muistia kutsutaan ReRAM-muistiksi (lyhenne sanoista resistive random access memory). ReRAM-muisti on Flash-muistin tapaan haihtumaton muisti, jota voidaan sähköisesti ohjelmoida tai tyhjentää. Flash-muistia käytetään tällä hetkellä esimerkiksi muistitikuissa. ReRAM-muisti mahdollistaa kuitenkin nopeamman ja vähävirtaiseman toiminnan Flashiin verrattuna, joten se on tulevaisuudessa varteenotettava kilpailija markkinoilla. ReRAM-muisti mahdollistaa myös useammin bitin tallentamisen yhteen muistisoluun binäärisen (”0” tai ”1”) toiminnan sijaan. Tyypillisesti ReRAM-muistisolulla on kaksi rajoittavaa vastusarvoa, mutta näiden kahden tilan välille pystytään mahdollisesti ohjelmoimaan useampia tiloja. Muistisoluja voidaan kutsua analogisiksi, jos tilojen määrää ei ole rajoitettu. Analogisilla muistisoluilla olisi mahdollista rakentaa tehokkaasti esimerkiksi neuroverkkoja. Neuroverkoilla pyritään mallintamaan aivojen toimintaa ja suorittamaan tehtäviä, jotka ovat tyypillisesti vaikeita perinteisille tietokoneohjelmille. Neuroverkkoja käytetään esimerkiksi puheentunnistuksessa tai tekoälytoteutuksissa. Tässä diplomityössä tarkastellaan Ta2O5 -perustuvan ReRAM-muistisolun analogista toimintaa pitäen mielessä soveltuvuus neuroverkkoihin. ReRAM-muistisolun valmistus ja mittaustulokset käydään läpi. Muistisolun toiminta on harvoin täysin analogista, koska kahden rajoittavan vastusarvon välillä on usein rajattu määrä tiloja. Tämän vuoksi toimintaa kutsutaan pseudoanalogiseksi. Mittaustulokset osoittavat, että yksittäinen ReRAM-muistisolu kykenee binääriseen toimintaan hyvin. Joiltain osin yksittäinen solu kykenee tallentamaan useampia tiloja, mutta vastusarvoissa on peräkkäisten ohjelmointisyklien välillä suurta vaihtelevuutta, joka hankaloittaa tulkintaa. Valmistettu ReRAM-muistisolu ei sellaisenaan kykene toimimaan pseudoanalogisena muistina, vaan se vaati rinnalleen virtaa rajoittavan komponentin. Myös valmistusprosessin kehittäminen vähentäisi yksittäisen solun toiminnassa esiintyvää varianssia, jolloin sen toiminta muistuttaisi enemmän pseudoanalogista muistia.

ÄÄNEEN PERUSTUVA KÄYTTÄJÄN TODENTAMINEN PUHELINVERKON LISÄARVOPALVELUISSA

Tässä diplomityössä perehdytään puhujantunnistukseen ja sen käyttökelpoisuuteen käyttäjän henkilöllisyyden todentamisessa osana puhelinverkon lisäarvopalveluja. Puhelimitse ohjattavat palvelut ovat yleensä perustuneet puhelimen näppäimillä lähetettäviin äänitaajuusvalintoihin. Käyttäjän henkilöllisyydestä on voitu varmistua esimerkiksi käyttäjätunnuksen ja salaisen tunnusluvun perusteella. Tulevaisuudessa palvelut voivat perustua puheentunnistukseen, jolloin myös käyttäjän todentaminen äänen perusteella vaikuttaa järkevältä. Työssä esitellään aluksi erilaisia biometrisiä tunnistamismenetelmiä. Työssä perehdytään tarkemmin äänen perusteella tapahtuvaan puhujan todentamiseen. Työn käytännön osuudessa toteutettiin puhelinverkon palveluihin soveltuva puhujantodennussovelluksen prototyyppi. Työn tarkoituksena oli selvittää teknologian käyttömahdollisuuksia sekä kerätä kokemusta puhujantodennuspalvelun toteuttamisesta tulevaisuutta silmällä pitäen. Prototyypin toteutuksessa ohjelmointikielenä käytettiin Javaa.

Animal Experience in Kant’s Philosophy

The role of animals in the philosophy of mind is primarily to help understand the human mind by serving as practical examples of cognition that differs from ours either in kind or in degree. Kant regarded animals as beings that only have the faculty of sensibility. By examining what Kant writes about animal experience we gain knowledge concerning the role of sensibility in experience, free from the influence of understanding and reason. I look at Kant’s view of animals in the historical context of alternative views presented by Descartes’ and Hume’s views. Kant’s view can be seen as a counterargument against Descartes’ doctrine of animal machines according to which animals do not have minds and they do not think. I suggest that while it can be argued that some kind of elementary experience could be possible in the physiological level, this only makes sense when it is possible to become conscious of the unconscious sensation, and this requires a mind. A further option is to claim that there is only a difference in degree between human and animal cognitive capacities. This is Hume’s view. I argue that even though Kant’s and Hume’s view on the cognitive capacities of animals seems to depart from each other to a considerable extent, the differences between them diminish when the focus is on the experience these capacities enable. I also briefly discuss the relation of the metaphysics of animal minds to animal ethics.

The duality of tactical thought : a study of how Swedish land forces' commanders view tactics in irregular warfare

This is a sociological study of the views of officers in the Swedish Army and its Amphibious Forces on tactics in Irregular Warfare (IW), in particular, Counterinsurgency (COIN). IW comprises struggles, where the military weaker part uses an indirect approach with smaller units and integrates the civilian and military dimensions in a violence spectrum including subversion, terrorism, Guerrilla Warfare and infantry actions. IW is the main armed warfare style in insurgencies. COIN is the combined political, military, economic, social and legal actions in counter insurgencies. Data has been collected by means of interviews with almost all (n =43) officers, who were either commanding battalions or rifle and manoeuvre companies while undergoing training for general warfare and international operations. The main theoretical and methodological inspiration is the traditional one for research on social fields, inaugurated by the French sociologist Pierre Bourdieu. The statistical technique used is Multiple Correspondence Analysis. As a background and context base, an inquiry inspired by the Begriffsgechichte (Conceptual History) tradition explores the genesis and development of understandings of the term Irregular Warfare. The research question is outlined as; “how can contemporary Swedish military thought on tactics in Irregular Warfare be characterized using descriptive patterns, mapped in relation to background factors and normative standards? The most significant findings are that there are two main opposing notions separating the officers’ views on tactics in Irregular Warfare: (1) a focus on larger, combat oriented and collectively operating military units versus smaller and larger, more intelligence oriented and dispersed operating units, and (2) a focus on military tasks and kinetic effects versus military and civilian tasks as well as “soft” effects. The distribution of these views can be presented as a two-dimensional space structured by the two axes. This space represents four categories of tactics, partly diverging from normative military standards for Counterinsurgency. This social space of standpoints shows different structural tendencies for background factors of social and cultural character, particularly dominant concerning military backgrounds, international mission experiences and civilian education. Compared to military standards for Counterinsurgency, the two tactical types characterized by a Regular Warfare mind-set stands out as counter-normative. Signs of creative thought on military practice and theory, as well as a still persistent Regular Warfare doxa are apparent. Power struggles might thus develop, effecting the transformation to a broadened warfare culture with an enhanced focus also on Irregular Warfare. The result does not support research results arguing for a convergence of military thought in the European transformation of Armed Forces. The main argument goes beyond tactics and suggests sociological analysis on reciprocal effects regarding strategy, operational art, tactics as well as leadership, concerning the mind-set and preferences for Regular, Irregular and Hybrid Warfare.

Contemporary marketing in the high-tech industry: Perceptions of Finnish IT marketing professionals

Over the last 30 years, new technologies and globalization have radically changed the way in which marketing is conducted. However, whereas their effects on business in general have been widely discussed, the focus of the effects on marketing remains without clear recognition. Global research has been made to shed light onto the issue, but it has widely concentrated on the views of executives as well as the consumer markets. In addition, a research gap is existent in applying the concept of marketing change in a specific business-to-business (B2B) industry. Therefore, the main research question this study seeks to answer is: “How is contemporary marketing conducted in the high-technology industry?” In this research, the researcher considers the specific industry of high-technology. However, as the industry is comprised of differing markets, the focus will be given to one of the industry’s prime sectors – the information technology (IT) markets, where companies offer other firms products or services manufactured with advanced technology. The growing IT-market is considered of critical importance in the economies of technologically ready countries such as Finland, where this research is also conducted. Through multiple case studies the researcher aims to describe how the changes in technology, customer engagement and future trends have shaped the way in which successful high-tech marketing is conducted in today’s marketplace. Then, results derived from the empirical research are presented to the reader with links to existing literature. As a conclusion, a generalized framework is constructed to depict and ideal marketer-customer relationship, with emphasis on dynamic, two-way communication and its supporting elements of customer analytics, change adaptation, strategic customer communication and organizational support. From a managerial point of view, the research may provide beneficial information as contemporary marketing can yield profitable outcomes if managed correctly. As a new way to grasp competitive advantage, strategic marketing is much more data-driven and customer-focused than ever before. The study can also prove to be relevant for the academic communities, while its results may act as inspiring for new focus on the education trends of future marketers. This study was limited to the internal activities done at the high-tech industry, leaving out the considerations for co-marketing, marketing via business partners or marketing at other B2B-industries.

Value added KPI service delivery with quality function deployment: Multiple case study in asset & real estate management

The aim of this study is to investigate value added service concept for an asset and real estate management case company. The initial purpose was to recognize the most value adding key performance indicators (KPIs) information delivered for its customers, real estate investors with value added service. The multiple case study strategy included two focus group interviews with five case interviews in total. Additionally, quality function deployment (QFD) was used in order to form up the service process. The study starts with introduction and methodology explaining the demand for the thesis study. The subsequent chapter presents the theoretical background on real estate management KPIs in four main points of views and quality function deployment from the service development point of view. The chapter also defines research gap for the case study. According to the case study interviews, the most favored KPIs to deliver for the clients are income maturity of lease agreements and leasing activity. These KPIs and quality characteristics are translated into the QFD. In total, the service QFD explains the service planning, process control, and action plan phases.

Pretraining Convolutional Neural Networks for Visual Recognition

Convolutional Neural Networks (CNN) have become the state-of-the-art methods on many large scale visual recognition tasks. For a lot of practical applications, CNN architectures have a restrictive requirement: A huge amount of labeled data are needed for training. The idea of generative pretraining is to obtain initial weights of the network by training the network in a completely unsupervised way and then fine-tune the weights for the task at hand using supervised learning. In this thesis, a general introduction to Deep Neural Networks and algorithms are given and these methods are applied to classification tasks of handwritten digits and natural images for developing unsupervised feature learning. The goal of this thesis is to find out if the effect of pretraining is damped by recent practical advances in optimization and regularization of CNN. The experimental results show that pretraining is still a substantial regularizer, however, not a necessary step in training Convolutional Neural Networks with rectified activations. On handwritten digits, the proposed pretraining model achieved a classification accuracy comparable to the state-of-the-art methods.