Application of social media and ICT-tools in new and small business ventures.

The current research emphasizes on various questions raised and deliberated upon by different entrepreneurs. It provides a valuable contribution to comprehend the importance of social media and ICT-applications. Furthermore, it demonstrates how to support and implement the management consulting and business coaching start-ups with the help of social media and ICT-tools. The thesis presents a literary review from different information systems science, SME and e-business journals, web articles, as well as, survey analysis reports on social media applications. The methodology incorporated into a qualitative research method in which social anthropological approaches were used to oversee the case study activities in order to collect data. The collaborative social research approach was used to shelter the action research method. The research discovered that new business start-ups, as well as small businesses do not use social media and ICT-tools, unlike most of the large corporations use. At present, the current open-source ICT-technologies and social media applications are equally available for new and small businesses as they are available for larger companies. Successful implementation of social media and ICT-applications can easily enhance start-up performance and overcome business hassles. The thesis sheds some light on effective and innovative implementation of social media and ICT-applications for new business risk takers and small business birds. Key words

Strategic alliances as an international entry strategy: Finnish cleantech SMEs and the Indian market

The demand for environmental technologies, also called cleantech, is growing globally but the need is especially high in emerging markets such as India where the rising economy and rapid industrialisation have led to increasing energy needs and environmental degradation. The market is of great potential also for the Finnish cleantech cluster that represents advanced expertise in several fields of environmental technologies. However, most of the Finnish companies in the field are SMEs that face challenges in their internationalisation due to their limited resources. The objective of this study was to estimate, whether strategic alliances could be an efficient entry strategy for Finnish cleantech SMEs entering the Indian market. This was done by studying what are the key factors influencing the international entry mode decision of Finnish cleantech SMEs, what are the major factors affecting the entry of Finnish cleantech SMEs to the Indian market and how do Finnish cleantech SMEs use strategic alliances in their internationalisation process. The study was realised as a qualitative multi-case study through theme interviews of Finnish cleantech SME representatives. The results indicated that Finnish cleantech SMEs prefer to enter international markets through non-equity and collaborative modes of entry. These entry modes are chosen because of the small size and limited resources of companies, but also because they want to protect their innovative technologies from property rights violations. India is an attracting market for Finnish cleantech SMEs mainly because of its size and growth, but insufficient environmental regulation and high import tariffs have hindered entry to the market. Finnish cleantech SMEs commonly use strategic alliances in their internationalisation process but the use is rather one-sided. Most of the formed strategic alliances are low-commitment, international contractual agreement in sales and distribution. Alliance partner selection receives less attention. In the future, providing Finnish cleantech SMEs with international experience and training could help in diversifying the use of strategic alliances and increase their benefits to SME internationalisation.

THE IMPACT OF GUANXI TO MULTINATIONAL COMPANIES BUSINESS PERFORMACE, CORPORATE REPUTATION, NEGOTIATIONS AND MANAGEMENT IN CHINA

The modern business development of China began during 1978 and during the last decades Chinese have created one of the most dynamic and strongest economies in the world. China is now second largest trading power calculated in dollars. The special characteristic of this economic development is that it is not copy of any existing economy, instead the developments have been strongly influenced by the Chinese cultural characteristics. One cultural characteristic, guanxi, which is a “network of services and counter- services” is argued to be major component of successful business in China where these changes of services happen between people but also between companies. Obtaining introductions and the guanxi when doing business in China will give attentive audience and security for companies business. Despite the evidenced importance of guanxi, China´s business environment is rapidly changing towards Western economies, which might then reduce the importance of guanxi. Therefore the current impact of guanxi is a important topic to study. The main purpose of this study is to explore the impact of guanxi for Western big and small sized multinational companies´ business processes when doing business in China. This study looks What is the impact of guanxi in contemporary Chinese business environment for foreign companies doing business in China. Sub-questions in this research focus on what is the impact of guanxi on corporate reputation, management and negotiations. Findings present a mixed view where the importance of guanxi is not anymore critical, especially among younger people in the cities, however guanxi was clearly important outside the cities and when dealing with government officials. Efficient use of guanxi can be extremely profitable especially during early stages of business operations and guanxi plays role when bargaining prices and ensuring product quality from the factories. Therefore guanxi should be considered as essential element for successful business in China.

Disruptive innovations at the bottom of the pyramid : can they impact the sustainability of today´s top companies?

Due to the different dynamics required for organizations to serve the emerging market which contains billions of people at the bottom of the pyramid (BOP) coupled with the increasing desire for organizations to grow and be more multinational, organizations need to continually innovate. However, the tendency for large and established companies to ignore the BOP market and rather focus on existing markets, gives an indication of the existence of a vulnerability that potentially disruptive innovations from the BOP will not be recognized in good time for a counter measure. This can be deduced from the fact that good management practice advocates that managers should learn and listen to their customers. Therefore majority of the large existing companies continually focus on their main customer/market with sustaining innovations which leaves aspiring new entrants with an underserved BOP market to experiment with. With the aid of research interviews and an agent-based model (ABM) simulation, this thesis examines the attributes of BOP innovations that can qualify them as disruptive and the possibilities of tangible disruptive innovations arising from the bottom of the pyramid and their underlying drivers. The thesis Furthermore, examines the associated impact of such innovations on the future sustainability of established large companies that are operating in the developed world, particularly those with a primary focus which is targeted towards the market at the top of the pyramid (TOP). Additionally, with the use of a scenario planning model, the research provides an evaluation of the possible evolution and potential sustainability impacts that could emerge, from the interplay of innovations at the two pyramidal market levels and the chosen market focus of organizations – TOP or BOP. Using four scenario quadrants, the thesis demonstrates the resulting possibilities from the interaction between the rate of innovations and the segment focused on by organizations with disruptive era characterizing the paradigm shift quadrant. Furthermore, a mathematical model and two theoretical propositions are developed for further research. As recommendations, the thesis also extends the ambidextrous organizational theory, business model innovation and portfolio diversification as plausible recommendations to limit a catastrophic impact, resulting from disruptive innovations.

Measuring the performance of corporate events : an empirical study of measuring practices in Finnish companies

Corporate events as an effective part of marketing communications strategy seem to be underestimated in Finnish companies. In the rest of the Europe and the USA, investments in events are increasing, and their share of the marketing budget is significant. The growth of the industry may be explained by the numerous advantages and opportunities that events provide for attendees, such as face-to-face marketing, enhancing corporate image, building relationships, increasing sales, and gathering information. In order to maximize these benefits and return on investment, specific measurement strategies are required, yet there seems to exist a lack of understanding of how event performance should be perceived or evaluated. To address this research gap, this research attempts to describe the perceptions of and strategies for evaluating corporate event performance in the Finnish events industry. First, corporate events are discussed in terms of definitions and characteristics, typologies, and their role in marketing communications. Second, different theories on evaluating corporate event performance are presented and analyzed. Third, a conceptual model is presented based on the literature review, which serves as a basis for the empirical research conducted as an online questionnaire. The empirical findings are to a great extent in line with the existing literature, suggesting that there remains a lack of understanding corporate event performance evaluation, and challenges arise in determining appropriate measurement procedures for it. Setting clear objectives for events is a significant aspect of the evaluation process, since the outcomes of events are usually evaluated against the preset objectives. The respondent companies utilize many of the individual techniques that were recognized in theory, such as calculating the number of sales leads and delegates. However, some of the measurement tools may require further investments and resources, thus restricting their application especially in smaller companies. In addition, there seems to be a lack of knowledge of the most appropriate methods in different contexts, which take into account the characteristics of the organizing party as well as the size and nature of the event. The lack of inhouse expertise enhances the need for third-party service-providers in solving problems of corporate event measurement.

Marketers’ perception of the implementation of social media marketing: Evidence from large Finnish companies’ marketing campaigns

Social media is a multidimensional marketing and communications channel which can support and enhance a business’ reputation, sales and even longevity. Social media as a business tool encourages an interaction between customers and companies which gives opportunities for a company to better understand their customers, to target them more effectively and to collaborate and create dialogues with them which is not possible through traditional media channels. The aim of a social media strategy is to increase brand awareness, image, loyalty and recognition. The peer networks that social media creates allows a company to disseminate information through loyal customers to new and prospective customers to ultimately increase reach. The purpose of the study is to understand the marketer’s perspective of social media marketing use and how it is currently utilized in marketing and communications activities in Finland. Three companies were interviewed covering fourteen different implementations of social media marketing campaigns. These were then analysed to ascertain the utilization methods and experience gained on recent campaigns in the Finnish market The utilization of social media marketing was analysed using the methods of thematic analysis and inductive and abductive reasoning. Elements and themes were drawn out of the separate interviews to create a framework with which to explore, evaluate and match theories that define social media usage by companies. It became clear from all of the interviews that social media as a tool is most effective when it captures the viewer’s interest through rich and entertaining content. This directed the theoretical research towards Engagement Theory and Content Marketing which look to emphasize the importance of communities, collaboration, interaction, and peer-sharing as the key drivers of a social media marketing campaign.

Osaamisen johtaminen pk-yrityksen kansainvälisen kasvun elinkaarella

Tutkimuksen tavoitteena oli osaamisen johtamisen holistinen tarkastelu pk-yrityksen kansainvälisen kasvun elinkaarella. Osaamisen johtamisen malli sisältää osaamisen, tiedon, eriasteiset ja hierarkisesti eritasoiset liittoumat ja verkostot sekä internetin tarjonnan organisaation oppimisen ohella. Pk-yrityksen syntyminen, kasvu kotimarkkinoilla ja kansainvälinen kasvu voivat perustua kansainvälisyyteen. Holistinen kansainvälistyminen voi alkaa mistä funktiosta tai prosessista tahansa ja ulottua eriasteisena muihin funktioihin ja/tai prosesseihin. Kansainvälistyminen ja kansainvälinen toiminta voi katketa kokonaan tai funktioitain ja alkaa uudelleen. Tutkimuksen holistisella mallilla analysoitiin tapausyritykset hyödyntämällä osa-aluekronologiaa. Tuloksilla tarkennettiin mallia. Tarkennettu malli korostaa kasvu ja/tai kansainvälistymisärsykkeen/impulssin syntyvän sekä kotiettä ulkomaisilta kysyntä- ja/tai tarjontamarkkinoilta sekä yrityksen sisä- että ulkopuolelta tai olevan piilevänä omistajayrittäjässä. Holistisuus korostaa mallin kaikissa osissa ennen alkua (pre-start) vaiheen asemaa, päättymätöntä uudistumisprosessia. Osaamisen johtamisessa korostuu proaktiivisuus. Jokainen uudistamisprosessi edellyttää olevan osaamisen vahvistamista, ja organisaation ulkopuolisen osaamis- ja tietopääoman hyödyntämistä. Osaamisen johtaminen sisältää varsinaisen ja laajennetun organisaation yksilöiden, ryhmien ja yksiköiden visio- ja strategiaperusteisen johtamisen. Tämä edellyttää sitouttamista, motivointia ja omaehtoisuuden sekä organisaation sisäisen ja ulkoisen kulttuurietäisyyden hyödyntämistä. Yksilön fokus osaamisen johtamisen näkökulmasta on tehtävään sitoutuminen ja itsensä toteuttaminen. Fokukset ovat proaktiiviisia vaihdellen funktioiden ja prosessien elinkaarilla dynaamisesti. Tutkimus myötävaikuttaa omistajayrittäjän roolin korostamiseen, kasvu- ja kansainvälistymisimpulssin ja ennen alkua (pre start) vaiheen holistisuuden ymmärtämiseen laaja-alaisesti. Kasvu- ja kansainvälistymisimpulsseja/ärsykkeitä ja niistä seuraavia pre start vaiheita/osa-alueita on pk-yrityksen elinkaarella (1+n) kappaletta; (n: 0- oo). Malli myötävaikuttaa ymmärtämään aineettomia osaamis- ja tieto-optioita sekä korostaa transnationalpiirteitä kansainvälistä kasvua vahvistavina.

Capital Structure and Firm Growth: R&D Intensive Companies

The purpose of this study is to examine and explain firm`s growth impact on capital structure decision-making in research and development intensive companies. Many studies claim that R&D has a pivotal impact on capital structure decisions, but corporate finance theories have often failed to explain these observed patterns. As sales growth is an important concept and objective for R&D firms, it is logical to assume that it plays a vital role in capital structure decisions. This study applies nomothetic research approach. The theoretical part employs a formal conceptual analysis in order to develop the propositions that are tested with empirical data. The empirical part consists of the analysis of three companies; the data is obtained from the annual reports over the period 2003 – 2008. The companies operate in IT- or ICT-industry and are publicly listed. The method for analyzing the case data is based on the financial indicators, which are obtained from the financials of the case companies. These economic indicators describe the capital structure and the financial decision-making of the firms. The method relates to the quantitative studies. Yet, this study extends the analysis beyond the indicators. Specifically, this study addresses the question of what is behind the economic indicators, therefore combining aspects of quantitative and qualitative analysis. The firms examined in this study seem to prefer internal finance during growth. However, external finance seems to be a catalyst for sales growth. Firms strongly prefer equity financing. In growth, the use of equity per capital either increases or stays in a constant level. Over the period 2003 – 2008, the firms were often associated to equity related transactions and short-term debt. Short-term debt was used as a substitute of long-term debt and equity. The case firms also adjusted their capital structure – these adjustments were carried out with short-term debt or equity. The case data also provides implications for the growth signal theory that was developed in this study. Based on the econometric indicators, arguments can be made that equity investors are `attracted` to growing R&D firms. This is because growth helps investors perceive the true type of firm. The findings of this study are best explained by the trade-off theory and the pecking order theory. These corporate finance theories are considered as mainstream. Little support can be found to the implications of the signaling theory and market timing theory.

DEVELOPING SOCIAL CAPITAL WITHIN COMPANIES THROUGH ENTERPRISE 2.0

Whereas external social media has been studied, hyped and integrated into companies´ strategies, an insignificant concentration has been put on internal social solutions, which companies provide increasingly to their personnel. An enterprise focusing solely on the benefits of external social media might end up underestimating the true potential embedded in social business. The purpose of this thesis was to examine how social collaboration can be depicted as a structuration process in an Enterprise 2.0 environment. Furthermore, this thesis sought to reveal the benefits, challenges and possibilities of social business. This thesis focused on researching Enterprise 2.0 at the workplace. The studied Enterprise 2.0 solution was IBM Connections. The qualitative research methodology was an extensive case study. Three companies took part into this thesis and all in all 12 employees were interviewed. Additionally, seven IBM Social Business Experts were interviewed in order to receive a better understanding of the phenomenon. Three research questions were designed to fulfill the purpose of this thesis. The research questions were: 1. How are the dimensions of social capital structured through collaboration? 2. How does agency form in Enterprise 2.0? 3. How does social collaboration emerge as a result of the interplay between agency and dimensions of social capital in an Enterprise 2.0 environment and creates outcomes such as trust, identification and knowledge? The main research findings indicate that social collaboration increases trust, identification and knowledge by giving employees more capabilities to do their work. Consequently, social collaboration increases company performance by making individuals and groups more effective. The support of top management is crucial in making Enterprise 2.0 successful, because it is more a cultural than a technological change. Power agency, the lack of top management support and old established work ways such as email and databases work as barriers to social collaboration.

Verkoston strateginen kehittäminen rakennusalan pk-yrityksen näkökulmasta

Tämän pro gradu-tutkimuksen tavoitteena oli tutkia strategista verkoston kehittämistä rakennusalalla maalausaliurakoitsijayrityksen näkökulmasta. Tavoitteena oli vastata miten aliurakoitsijayritys voisi strategisesti kehittää verkostojaan ja muodostaa kokonaiskäsitys rakennusalan nykyisestä kilpailuympäristöstä ja hahmottaa rakennusalan verkostoympäristöä. Tämän kvalitatiivisen tutkimuksen teoriaosa käsittelee strategisen verkostoitumisen motiiveita, kuvaa erilaisia strategisia verkostotyyppejä sekä nostaa esiin verkostoitumisen haasteita. Tutkimuksen empiirinen osa muodostui haastattelemalla Lahden ja lähialueiden rakennusliikkeiden keskijohtoa. Tutkimusmetodina käytettiin teemahaastattelua. Tutkimustulokset osoittavat, että aliurakointia pääasiassa tekevän rakennusalan pk-yrityksen on mahdollista kehittää yhteistyösuhteitaan ja verkostojaan strategisesti. Strateginen vertikaalinen yhteistyö on helpommin mahdollista erikoistumalla. Lisäksi joustavuus, sitoutuminen ja luottamus ovat olennaisia arvoa lisääviä ominaisuuksia alalla.

Startup IPR strategies: Why should startup companies protect their intellectual property?

This thesis studies intellectual property right (also: IPR) strategies from the perspective of high growth startup companies. Due to technology development and intellectualization of business, large part of companies’ assets are nowadays intangible. At the same time, the importance of protection instruments designed to protect these intangible assets, intellectual property rights, is increasing. Utilization of these instruments, however, requires understanding of the functioning of the IPR system, as well as financial resources. Startup companies aiming for growth need to be able compete with more established companies also in relation to intangible assets, but they might not have the required knowledge ot resources to fully utilize IPRs in their business. This research aims to understand what are the benefits a startup company can have from protecting their IPRs, and how can the company achieve those benefits. Based on a review of previous literature, altogether 11 benefits of IPR registration were recognized. To answer to the research questions, six half-structured interviews were conducted with experts form different fields, all with experience in working with startup companies and IPR issues. The interviews were analyzed using different methods of qualitative data analysis, mainly derived from grounded theory and case study methods. As a result, out of the 11 benefits recognized from earlier literature, 8 were recognized to be relevant for startup companies. The most central benefits were recognized to be linked with the financial lifecycle of the startup company, including increasing credibility of the startup and stimulating an investment. In addition it was noticed, that startup companies are mainly able to utilize these benefits at later stages of their lifecycle. However, to be able to utilize the benefits at later stages, the startup company needs to be aware of the functioning of the IPR system and might need to apply for appropriate protection already early on. As a result of this study, a three-step model was formed to describe different levels of IPR utilization. The first level of the model represents the minimum level of understanding that every startup company should have regarding IPRs. The second level views IPR strategy from a risk management perspective, including securing the minimum protection of the company’s own IPRs, contract management and establishing processes for handling IPR issues. The last stage reflects strategic use of IPRs. At this third stage intellectual property rights have a central role in the startup company’s business, and they are used in the company’s value creation.

USING ATHLETE ENDORSEMENT IN BRAND POSITIONING – An insight from multinational sports goods companies

It has become a popular method in marketing campaigns to use well-known and admired personalities to promote products. A famous person can draw attention to the brand and change consumers’ perceptions of the brand. The research problem of this study was to offer guidelines on how to use athlete endorsement effectively in brand positioning. This research tried to illustrate how athlete endorsement is a vital brand building factor. Athletes have been found to have special credibility, so this research concentrated on the sports goods industry. Furthermore, athlete endorsement has become a natural part of communicating a sports brand. Athletes highlight the performance of the brand to the consumers. The study was conducted as a qualitative research applying case study method. The two case companies selected for this study were Adidas and Puma. The main findings of the empirical research corresponded to the theoretical framework of the study. Brand positioning strategies in the sports goods industry often include athlete endorsement to some extent. Large multinational companies try to attract the best athletes to promote their brand. The key to successful brand positioning is to have a good product with the right personalities to promote it. However, large multinational companies may face difficulties in localizing their marketing efforts. As a result, global campaigns may not be lucrative everywhere. The role of an expert in an athlete’s sport has resulted in increasing credibility in promoting brands. Creating a superior product in consumers’ minds creates competitive advantage. A top athlete may be linked with superior equipment. After considering the goals of the positioning strategy, companies need to plan their brand awareness process, brand image and brand values. Then, athletes need to be selected based on their characteristics to meet the criteria. Sport sponsorship is a way to support the message delivered through athlete endorsement. Athlete endorsement and sport sponsorship complement the marketing communications mix of a brand. Additionally, companies raise brand awareness and communicate brand image through the athlete. Thus, athletes may earn more money through the sponsorship deals and even feature the advertisements after their professional career. Key words

Syntyykö Suomeen puulaaksoja - Suomen puutuoteteollisuuden pk-yritysten tila ja tulevaisuus

Metsäteollisuus on tullut Suomeen ulkomaisen pääoman ja tietotaidon avulla vajaat kaksisataa vuotta sitten. Se on toiminut melkein koko jatkosodan jälkeisen ajan suojatussa ympäristössä ja ulkomaisesta kilpailusta riippumattomassa toimintaympäristössä. Kuten Porter ja muut ovat todistaneet, tällainen toimintaympäristö ei kehitä kansainvälisesti kilpailukykyistä teollisuutta globaaleilla markkinoilla. Liittyminen Euroopan unioniin ja sittemmin Euroopan rahaliittoon saattoi puunjalostusteollisuuden täysin uudenlaiseen kilpailutilanteeseen. Sama tapahtui myös alan pk-yrityksille, jotka olivat joutuneet toimimaan heikosti kilpailluilla raaka-ainemarkkinoilla. Tutkimus on tulevaisuudentutkimus, jossa tutkimusongelmia lähestytään kolmen teorian avulla. Porterin klusteriteoria tarjoaa mahdollisuuden arvioida metsäteollisuutta sekä kokonaisuutena että toimivana monimuotoisena organisaationa, jossa kustannukset ja hinta muodostuvat arvoketjun toimijoiden osakustannuksista. Bionomiateoria eli darvinistinen talousteoria testaa suomalaisen puunjalostusteollisuuden pk-yritysten kilpailukykyä ja paineita hakeutua edullisemmille toiminta- alueille. Evoluutioteoria tarkastelee sukupolvenvaihdoksen problematiikkaa. Sukupolvenvaihdoksen onnistuminen muodostuu puutoimialan elämän ja kuoleman kysymykseksi. Tämä on etenkin pk-yrityksiä kohtaava ongelma. Asiaa selvitettiin Mauno Rintalan suorittamalla kyselytutkimuksella Puuteollisuusyrittäjien jäsenistön keskuudessa. Ongelma johtuu suurista sodan jälkeen syntyneistä ikäluokista. Nämä vuosina 1945– 50 syntyneet ovat siirtymässä eläkkeelle vuosien 2005 ja 2015 välillä. Kyseisissä ikäluokissa yritystiheys on noin kaksi kertaa suurempi kuin sen jälkeisissä ikäluokissa. Suoritetun kyselyn sekä muiden suomalaisten ja kansainvälisten tutkimusten perusteella näyttää siltä, että eläkkeelle siirryttäessä vain noin 30 %:lla yrityksistä on jatkaja tiedossa suvusta tai lähipiiristä. Tämä merkitsee sitä, että 70 % eläköityvän ikäluokan omistamista yrityksistä poistuu pysyvästi markkinoilta. Suomessa poistuma merkitsee noin 40 % koko yritysvarannosta eli noin 80 000 yritystä. Tilastot toimivien yritysten määrästä ovat kuitenkin hyvin ristiriitaisia, joten todellista määrää on mahdoton arvioida. Noin suuren määrän poistuminen markkinoilta uhkaa jo hyvinvointivaltion perusrakenteita. Tutkimustulos edellyttää nopeita toimenpiteitä teollisten pkyritysten pelastamiseksi ja säilyttämiseksi Suomessa. Sukupolvenvaihdoksen onnistuminen on tässä prosessissa ensiarvoisessa asemassa. Kaikkien edellä mainittujen yritysten poistuminen markkinoilta edellyttäisi noin 400 000 uuden yrityksen perustamista, koska ainoastaan noin 20 % yrityksistä selviää ensimmäiset kolme vuotta. Tutkimukseen perustuen esitetään prosessimalli sukupolvenvaihdoksen suorittamiseksi. Suomen tärkeimmissä kilpailijamaissa valtioiden metsäomistus on määräävässä asemassa. Meillä metsät ovat yksityisessä omistuksessa ja vain pieni osa valtion omistuksessa. Puumarkkinat toimivat markkinatalouden ehdoilla ilman valtion ohjausta. Ongelmaksi on kehittymässä puun saanti. Metsänomistus on sukupolvien myötä hajaantunut hyvin pieniksi metsälöiksi. Nykyiset metsänomistajat asuvat kaupungeissa ja ovat pääosin palkkatyössä. He eivät ole samalla tavoin riippuvaisia puutuloista kuin heidän esi-isänsä. Metsäverotuksen uudistuminen lisää puun saannin epävarmuutta. Se on muuttumassa pinta-alaverotuksesta puun myynnin verotukseen. Puun myynti on vilkasta ennen järjestelmien vaihtumista ja vähäisempää sen jälkeen. Myös näitä ongelmia on pyritty ratkomaan uudenlaisen metsänomistusmallin avulla. Puuteollisuus on hyvin vanha teollisuudenala. Raaka-aine muodostaa määräävän osan kustannuksista. Muutokset ovat hitaita ja todelliset innovaatiot pitkäkestoisia. Uusia innovaatioita tapahtuu harvoin. Kannattavuutta parannetaan tuoteprosessien ja arvoketjujen kehittämisen kautta. Yhteiskunnan osuus alan kehittämisessä ja säilyttämisessä on ratkaiseva. Asioiden moninaisuus tekee tutkimuksen vaikeaksi, mutta sitäkin tärkeämmäksi kansantalouden kannalta. Tällaisissa suurissa murroksissa korostuu kaikkien päättävien tahojen henkinen valmius ja tahto tehdä oikeita ratkaisuja oikeaan aikaan.

Product placement on personal blogs: a multiple case study from companies’ perspective

As traditional advertising is losing its value in corporations’ marketing, new and growing social media marketing channels are increasing their importance. The growing interest in the media and the lack of research on the subject create a clear need for this study. The objectives are to increase understanding about product placement in personal blogs and examine the benefits as well as the downsides created by this marketing channel and present the requirements for success. The study also takes a stand on what kind of things a successful product placement strategy in personal blogs includes and what points should be considered when creating a strategy. The study’s empirical part consists of seven thematic interviews with case companies’ representatives and one agent. The study’s personal blogs were delimited to consist only lifestyle and fashion blogs. The results show that product placement on personal lifestyle and fashion blogs is a strongly growing marketing channel and it is best suited to reach young women. It is also a very good channel to change and improve brand image. Via personal blogs it is possible to reach a large number of consumers with a very cost-efficient manner. Thus utilizing the channel is suitable for all companies regardless of the size of the marketing budget. Of course, companies have to consider the suitability of their product to the themes of blogs. Executing a successful campaign in this media requires good relationship management skills and understanding of this particular media as the final content is not in advertiser’s hands. As a marketing channel, personal blogs differ highly from traditional marketing channels because of their constantly changing nature and multidirectional quality where several parties are in interaction.

Modelling flexible asset management in industrial maintenance companies and networks

The tightening competition and increasing dynamism have created an emerging need for flexible asset management. This means that the changes of market demand should be responded to with adjustments in the amount of assets tied to the balance sheets of companies. On the other hand, industrial maintenance has recently experienced drastic changes, which have led to an increase in the number of maintenance networks (consisting of customer companies that buy maintenance services, as well as various supplier companies) and inter-organizational partnerships. However, the research on maintenance networks has not followed the changes in the industry. Instead, there is a growing need for new ways of collaboration between partnering companies to enhance the competitiveness of the whole maintenance network. In addition, it is more and more common for companies to pursue lean operations in their businesses. This thesis shows how flexible asset management can increase the profitability of maintenance companies and networks under dynamic operating conditions, and how the additional value can then be shared between the network partners. Firstly, I have conducted a systematic literature review to identify what kind of requirements for asset management models are set by the increasing dynamism. Then I have responded to these requirements by constructing an analytical model for flexible asset management, linking asset management to the profitability and financial state of a company. The thesis uses the model to show how flexible asset management can increase profitability in maintenance companies and networks, and how the created value can be shared in the networks to reach a win-win situation. The research indicates that the existing models for asset management are heterogeneous by nature due to the various definitions of ‘asset management’. I conclude that there is a need for practical asset management models which address assets comprehensively with an inter-organizational, strategic view. The comprehensive perspective, taking all kinds of asset types into account, is needed to integrate the research on asset management with the strategic management of companies and networks. I will show that maintenance companies can improve their profitability by increasing the flexibility of their assets. In maintenance networks, reorganizing the ownership of the assets among the different network partners can create additional value. Finally, I will introduce flexible asset management contracts for maintenance networks. These contracts address the value sharing related to reorganizing the ownership of assets according to the principles of win-win situations.