Effects of Country of Origin on Consumer Product Evaluations: Finnish clothing products in the minds of Russian tourists

Companies operating in today’s highly internationalized markets consider product differentiation the key priority in pursue to attain a constant competitive advantage in challenging global environment (Baker and Ballington 2002, 158). The main driver affecting companies’ differentiation actions was described as early as 1912 by one of the marketing pioneers A. W. Shaw (1912, 710) as meeting human wants more accurate than the competition, and thus increasing customers’ perceived value and satisfaction. Dickson and Ginter (1987, 2) point out in their study based on earlier research by Chamberlin (1965) and Porter (1976) that differentiation can be based on either tangible characteristics of a product such as design or intangible characteristics such as a brand name and country of origin (hereafter referred to as COO). The concept of COO and its impact on consumers’ evaluation of a product as an extrinsic product cue has been one of the most noteworthy topics in international marketing, having been voluminously examined by over 780 authors in more than 750 academic publications in the past 40 years (Papadopoulos and Heslop 2002, 294). Many of these studies accentuate the significant effect the COO has on consumers’ product attribute evaluations. People routinely associate country images with products and services in order to judge and categorize them based on perceived quality and risk levels; thereby COO can influence the likelihood of a purchase (Peterson and Jolibert 1995, 883-884; Verlegh and Steenkamp 1999, 523). Based on the vast research related to COO in the field of international business, it is widely recognized that the country associated with a product can act in a similar way as the name of a brand and even become a part of product’s total image. Thereby depending on customer’s values and perceptions, the product-country image can either increase or decrease perceived value.

Streamlining Launch Support Operations in a Product Platform

The new product development process is a massive investment to a company that aims to reduce their products’ time-to-market. Capability to shorter time-to market allows longer life-cycle to products which are introduced to market earlier but also give advantage to start product launch later while simultaneously learning from customer behavior and competitors. The product launch support operations are the last ramp-up activities before the product launching. This study defines what these operations mean in a product platform and how they can be streamlined to be more efficient. The methodology includes interviews, innovative group brainstorming and regular working group meetings. The challenges concerning the current situation of product launch support operations are allocated into four categories: General, Process, Project Resources and Project Management including altogether ten sub challenges. The challenges include issues related to technology and marketing management, branding strategy, organizing the global platform structure, harmonizing processes and clarifying handovers between shareholders in the process. The study makes a suggestion of a new Product Launch Support organization and clarification of its roles, responsibilities and tasks. In addition a new project management tool and Lessons Learned are suggested to improve the project management. The study can be seen as a pre-study when having an aim at combining technological and marketing know-how in the product ramp-up process before actual production. The future proceedings are suggested to include more detailed specifications and implementation in order to reach the long range target, reduced the time-to-market.

Making Sense of Software Product Requirements

One of the most crucial tasks for a company offering a software product is to decide what new features should be implemented in the product’s forthcoming versions. Yet, existing studies show that this is also a task with which many companies are struggling. This problem has been claimed to be ambiguous and changing. There are better or worse solutions to the problem, but no optimal one. Furthermore, the criteria determining the success of the solution keeps changing due to continuously changing competition, technologies and market needs. This thesis seeks to gain a deeper understanding of the challenges that companies have reportedly faced in determining the requirements for their forthcoming product versions. To this end, product management related activities are explored in seven companies. Following grounded theory approach, the thesis conducts four iterations of data analysis, where each of the iterations goes beyond the previous one. The thesis results in a theory proposal intended to 1) describe the essential characteristics of organizations’ product management challenges, 2) explain the origins of the perceived challenges and 3) suggest strategies to alleviate the perceived challenges. The thesis concludes that current product management approaches are becoming inadequate to deal with challenges that have multiple and conflicting interpretations, different value orientations, unclear goals, contradictions and paradoxes. This inadequacy continues to increase until current beliefs and assumptions about the product management challenges are questioned and a new paradigm for dealing with the challenges is adopted.

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.

Worker motivation in crowdsourcing new product development

In the study the recently appeared technology of crowdsourcing and its implications to new product development activities. The goal of the research is to figure out the motivating factors used in crowdsourcing projects related to new product development. The study is based on the theoretical backgrounds of crowdsourcing; new product development, and motivation, which resulted in the framework for the crowdsourcing cases assessment and the list of possible motivating factors used for the analysis. The research is based on 16 crowdsourcing projects divided in 4 sets according to the stage of new product development at which they are directed. The motivating factors present in the projects were distinguished and explained. Further analysis allowed making conclusions showing which of the motivating factors are suitable for the crowdsourcing projects related to the particular stage of new product development. The results can be used for creation or assessment of crowdsourcing projects for the companies because the main factor of success for crowdsourcing is motivation, and the work is answering how to motivate the workers.

Improving product profitability control in continuous IT-services

The target of the thesis is to improve product profitability control in continuous IT-services. Accurate product cost accounting and correctly allocated revenues are a necessity for good product profitability control. The focus of the study is on costs and revenues that are not traced directly to services. The thesis is focused on revenue allocations as revenue allocation methods have not been used in the case company before. In order to achieve the target revenue allocation methods, which improve the product profitability accounting and control, are presented. The research methods used in the thesis are literature review and empirical case study. The research approach is constructive. The theoretical part is composed of literature and articles that create a base for the empirical part. Internal interviews describe the current situation in the company and based on it development actions are planned. The part of the empirical case study is seen mostly in the limitations as the research is limited to concern only one department in the company. Problems in the revenue tracing are caused by customer specific services and lack of service definitions because of which the revenues are not traced correctly. Methods to allocate revenues are presented in the thesis and stand-alone revenue allocation method is the most suitable one because it is fair and it can be modified. Approximate product profitability analysis is done in the thesis and the results of it indicate that some services are profitable and some unprofitable.

Dynamic Ownership in Family Business System – A Portfolio Business Approach

Family businesses are among the longest-lived most prevalent institutions in the world and they are an important source of economic development and growth. Ownership is a key to the business life of the firm and also one main key in family business definition. There is only a little portfolio entrepreneurship or portfolio business research within family business context. The absence of empirical evidence on the long-term relationship between family ownership and portfolio development presents an important gap in the family business literature. This study deals with the family business ownership changes and the development of portfolios in the family business and it is positioned in to the conversation of family business, growth, ownership, management and strategy. This study contributes and expands the existing body of theory on family business and ownership. From the theoretical point of view this study combines insights from the fields of portfolio entrepreneurship, ownership, and family business and integrate them. This crossfertilization produces interesting empirical and theoretical findings that can constitute a basis for solid contributions to the understanding of ownership dynamics and portfolio entrepreneurship in family firms. The research strategy chosen for this study represents longitudinal, qualitative, hermeneutic, and deductive approaches.The empirical part of study is using a case study approach with embedded design, that is, multiple levels of analysis within a single study. The study consists of two cases and it begins with a pilot case which will form a preunderstanding on the phenomenon. Pilot case develops the methodology approach to build in the main case and the main case will deepen the understanding of the phenomenon. This study develops and tests a research method of family business portfolio development focusing on investigating how ownership changes are influencing to the family business structures over time. This study reveals the linkages between dimensions of ownership and how they give rise to portfolio business development within the context of the family business. The empirical results of the study suggest that family business ownership is dynamic and owners are using ownership as a tool for creating business portfolios.

Innovation Project Portfolio Management

Companies today are forced to innovate in order to remain within business. Such innovation projects undertaken by the companies are defined in this study as creative ideas which have been managed through “Stage-Gate” innovation process. This process is used to manage innovation projects as they proceed from being newly created to ready for launching/implementing. This has ensured that the companies manage the innovation project right. However, with so many new creative ideas the companies can come up within limited resources, the companies must rely on Innovation Project Portfolio Management (IPPM) to ensure that they are managing only the right innovation projects. Although, there are many tools and techniques available for use within Project Portfolio Management, there is still no consensus on which are the most effective and no standard framework has been established especially for IPPM. Thus, this study proposes a practical framework for which individual innovative organization can follow as a guideline to manage its innovation project portfolio. The study theoretically first addresses the key differences between project portfolio management of innovation projects and other traditional projects - one of which is the stage nature of innovation projects due to their unclear objectives from the beginning compare to clearly established objectives of traditional projects. Secondly, different tools and techniques which can be used are examined based on the three goals of IPPM: (1) Maximizing the Value of Innovation Project Portfolio: Financial Methods, Decision Trees, Scoring Models and Checklists; (2) Balancing Innovation Project Portfolio: Visual Representations; and (3) Aligning Innovation Project Portfolio with Strategy: Bottom-Up (Scoring Models with Strategic Criteria) and Top-Down (Strategic Buckets). Finally, the two approaches in which IPPM can be integrated with Stage-Gate innovation process are discussed: (1) Gates- Dominated; and (2) Portfolio Reviews-Dominated. Practically, this study investigates IPPM of a case organization, and through analysis of the case study results proposes a practical framework for case organization to improve its current management of innovation project portfolio. This framework is then generalized to propose a final practical framework or guideline for which an innovative organization can follow to manage its innovation project portfolio.

IT Investment Portfolio Management Over Joint Ventures: Case Study in a Multinational Oil & Gas Company

With information technology (IT) playing an increasing important role in driving the business, the value of IT investment is often challenged because not all of those investment decisions are made in a reasonable way or aligned with business strategies. IT investment portfolio management (PfM) is an effective way to prioritize and select the right IT projects to invest in, by taking all the project proposals into consideration as a whole, based on their business value, risks, costs, and interrelationships. There are different decision models to prioritise projects, and the Analytic Hierarchy Process (AHP) is one of the most commonly-used methods and is discussed in this master thesis. At the same time, there are IT projects on different levels for a multinational company, from global to local. For instance, many of them are probably proposed by joint ventures on local level. In the oil & gas industry, joint ventures are often formed especially in the area of the upstream (exploration & production). How to involve those projects into the IT investment PfM approach of the parent company is a challenge, because the parent company cannot make the decisions on its own. It needs to prioritize all projects in an adequate way, communicate with JVs and influence them. Also, different control levels on JVs need to be considered. This paper hence attempts to introduce a tailored approach of IT investment PfM for a multinational oil & gas company to address the issues around JVs.

Key success factors and process for IT project portfolio management

The importance of Information Technology (IT) in the business environment is continuously growing. This stimulates the increase of size, complexity and number of IT projects and raises the need for IT Project Portfolio Management (IT PPM). While being actively discussed for the last few decades, IT PPM has a short history of practical implementation. This creates inconsistency in the views of different authors and provides an opportunity for additional research. As a first step, this research explores the existing studies and brings together the views of different authors on IT PPM. As a result, a high-level IT PPM Process Cycle and a set of Key Success Factors for IT PPM are proposed. IT PPM Process Cycle gives an overview of the main elements of IT PPM process, while the set of Key Success Factors provides a number of factors that should be considered during the implementation. As a second step, both theoretical deliverables are empirically tested by a case study and a survey conducted in a big multinational company. The case study is used to analyze process framework of the studied company towards the developed IT PPM Process Cycle. Subsequently, a survey was conducted among subject matter experts of the same company to evaluate the importance and relevance of the proposed Key Success Factors. Finally, this thesis concludes with findings made during the case study and provides an empirically tested selection of factors to be taken into account. These two deliverables can be used by both academics and practitioners to close the gaps in existing literature and assist in IT PPM implementation.

The Finnish it industries in transition. Defining and Measuring the Finnish Software Product and IT Services Industries by Applying Theoretical Frameworks

The starting point of this study is that the prevailing way to consider the Finnish IT industries and industry information often results in a limited and even skewed picture of the sector. The purpose of the study is to contribute and increase knowledge and understanding of the status, structure and evolution of the Finnish IT industries as well as the Finnish IT vendor field and competition. The focus is on software product and IT services industries which form a crucial part of all ICT industries. This study examines the Finnish IT sector from production (supply) as well as market (demand) perspective. The study is based on empirical information from multiple sources. Three research questions were formulated for the study. The first concerns the status of the Finnish IT industries considered by applying theoretical frameworks. The second research question targets at the basis for the future evolution of the Finnish IT industries and, finally, the third at the ability of the available definitions and indicators to describe the Finnish IT industries and IT markets. Major structural changes like technological changes and related innovations, globalization and new business models are drivers of the evolution of the IT industries. The findings of this study emphasize the significant role of IT services in the Finnish IT sector and in connection to that the ability to combine IT service skills, competences and practices with high level software skills also in the future. According to the study the Finnish IT enterprises and their customers have become increasingly dependent on global ecosystems and platforms, applications and IT services provided by global vendors. As a result, more IT decisions are made outside Finland. In addition, IT companies are facing new competition from other than IT industries bringing into market new substitutes. To respond to the new competition, IT firms seek growth by expanding beyond their traditional markets.. The changing global division of labor accentuates the need for accurate information of the IT sector but, at the same time, also makes it increasingly challenging to acquire the information needed. One of the main contributions of this study is to provide frameworks for describing the Finnish IT sector and its evolution. These frameworks help combine empirical information from various sources and make it easier to concretize the structures, volumes, relationships and interaction of both, the production and market side of the Finnish IT industry. Some frameworks provide tools to analyze the vendor field, competition and the basis for the future evolution of the IT industries. The observations of the study support the argument that static industry definitions and related classifications do not serve the information needs in dynamic industries, such as the IT industries. One of the main messages of this study is to emphasize the importance of understanding the definitions and starting points of different information sources. Simultaneously, in the structure and evolution of Finnish IT industries the number of employees has become a more valid and reliable measure than the revenue based indicators.

Effect of emotions on consumer decision-making in a high involvement product adoption context

This thesis was written in order participate in the emergent discussion on the role of emotions in consumer decision-making. The goal of the thesis was to find out which emotions affect consumer decision-making, how these emotions relate to traditional process models of consumer decision-making, and how emotions and other factors affect consumer decision-making. The thesis is placed into a context of high involvement product adoption. The empirical research was conducted according to a qualitative methodology, which combined video diaries and face-to-face or Skype interviews as data collection methods. The case product category was dancing poles, and four women participated in the study. The central results indicate that emotion and cognition walk hand in hand in consumer decision-making, that consumers experience a variety of emotions during a decision-making process, and that emotions have an important effect on consumer decision-making and consumer behavior.

Association between Lipid Accumulation Product and Hirsutism in Patients with Polycystic Ovary Syndrome

Objective Polycystic ovary syndrome (PCOS) is the most common endocrine metabolic disorder in women between menarche and menopause. Clinical hyperandrogenism is the most important diagnostic criterion of the syndrome, which manifests as hirsutism in 70% of cases. Hirsute carriers of PCOS have high cardiovascular risk. Lipid accumulation product (LAP) is an index for the evaluation of lipid accumulation in adults and the prediction of cardiovascular risk. The aim of this study was to evaluate the association between LAP and hirsutism in women with PCOS. Methods This was a cross-sectional observational study of a secondary database, which included 263 patients who had visited the Hyperandrogenism Outpatient Clinic from November 2009 to July 2014. The exclusion criteria were patients without Ferriman-Gallwey index (FGI) and/or LAP data. We used the Rotterdam criteria for the diagnosis of PCOS. All patients underwent medical assessment followed by measurement and recording of anthropometric data and the laboratory tests for measurement of the following: thyroid-stimulating hormone, follicle-stimulating hormone, prolactin, total testosterone, sex hormone binding globulin, 17-α-hydroxyprogesterone (follicular phase), glycohemoglobin A1c, and basal insulin. In addition, the subjects underwent lipid profiling and oral glucose tolerance tests. Other laboratory measurements were determined according to clinical criteria. LAP and the homeostatic model assessment index (HOMA-IR) were calculated using the data obtained. We divided patients into two groups: the PCOS group with normal LAP (< 34.5) and the PCOS group with altered LAP (> 34.5) to compare the occurrence of hirsutism. For statistical analysis, we used SPSS Statistics for Windows(r) and Microsoft Excel programs, with descriptive (frequencies, percentages, means, and standard deviations) and comparative analyses (Student's t-test and Chi-square test). We considered relations significant when the p-value was≤0.05. Results LAP was high in most patients (n = 177; 67.3%) and the FGI indicated that 58.5% of the patients (n = 154) had hirsutism. The analysis by LAP quartiles showed a positive correlation (p = 0.04) among patients with a high FGI and an upper quartile LAP (> 79.5) when compared with those with LAP < 29.0 (lower quartile). Conclusion This study demonstrated an association between high LAP and hirsutism. The FGI could represent a simple and low-cost tool to infer an increased cardiovascular risk in women with PCOS.

Performance of active portfolio management and the effect of stock market trend

Purpose of the study is to evaluate performance of active portfolio management and the effect of stock market trend on the performance. Theory of efficient markets states that market prices reflect all available information and that all investors share a common view of future price developments. This view gives little room for the success of active management, but the theory has been disputed – at least the level of efficiency. Behavioral finance has developed theories that identify irrational behavior patterns of investors. For example, investment decisions are not made independent of past market developments. These findings give reason to believe that also the performance of active portfolio management may depend on market developments. Performance of 16 Finnish equity funds is evaluated during the period of 2005 to 2011. In addition two sub periods are constructed, a bull market period and a bear market period. The sub periods are created by joining together the two bull market phases and the two bear market phases of the whole period. This allows for the comparison of the two different market states. Performance of the funds is measured with risk-adjusted performance by Modigliani and Modigliani (1997), abnormal return over the CAPM by Jensen (1968), and market timing by Henriksson and Merton (1981). The results suggested that in average the funds are not able to outperform the market portfolio. However, the underperformance was found to be lower than the management fees in average which suggests that portfolio managers are able to do successful investment decisions to some extent. The study revealed substantial dependence on the market trend for all of the measures. The risk-adjusted performance measure suggested that in bear markets active portfolio managers in average are able to beat the market portfolio but not in bull markets. Jensen´s alpha and the market timing model also showed striking differences between the two market states. The results of these two measures were, however, somewhat problematic and reliable conclusions about the performance could not be drawn.

Overcoming the Complexity of Software Product Management

This thesis describes an approach to overcoming the complexity of software product management (SPM) and consists of several studies that investigate the activities and roles in product management, as well as issues related to the adoption of software product management. The thesis focuses on organizations that have started the adoption of SPM but faced difficulties due to its complexity and fuzziness and suggests the frameworks for overcoming these challenges using the principles of decomposition and iterative improvements. The research process consisted of three phases, each of which provided complementary results and empirical observation to the problem of overcoming the complexity of SPM. Overall, product management processes and practices in 13 companies were studied and analysed. Moreover, additional data was collected with a survey conducted worldwide. The collected data were analysed using the grounded theory (GT) to identify the possible ways to overcome the complexity of SPM. Complementary research methods, like elements of the Theory of Constraints were used for deeper data analysis. The results of the thesis indicate that the decomposition of SPM activities depending on the specific characteristics of companies and roles is a useful approach for simplifying the existing SPM frameworks. Companies would benefit from the results by adopting SPM activities more efficiently and effectively and spending fewer resources on its adoption by concentrating on the most important SPM activities.