Integrating corporate social responsibility into business in Finnish consumer goods companies

The motives for this study originated from the notion that surprisingly little academic literature is found on actually managing and putting corporate social responsibility (CSR) into practice, in comparison with the definitions and frameworks of the concept itself. Regardless of the author, CSR has been considered consisting of three dimensions: economic, social and environmental. The question behind the three dimensions has always been whether socially and environmentally responsible behavior can lead to increased economic performance and improve the competitiveness of a company. Most of the current CSR development has related to the quantification of environmental and social performance in order to review these along with the established financial key ratios, which are based on the law and the reporting obligation of the companies. However, the previous research has mainly focused on US companies whereas studies with a European viewpoint, let alone Nordic, have been mostly lacking. Furthermore, it has been discovered recently that the integration of corporate responsibility into business is identified as the greatest challenge in CSR management in Finnish large companies. Therefore the integration of CSR into business in Finnish consumer goods companies provided an interesting, topical and somewhat obscure purpose for this study. This was further divided into three research questions concerning the reasons for CSR engagement, the role of the stakeholders and the practice of corporate responsibility. This study did not aim to build a new theory; instead an explorative viewpoint was regarded more appropriate. Accordingly, qualitative research approach and case study design were adopted in the study. Semi-structured theme interviews were used as a primary data collection method and complemented with secondary data such as websites, responsibility reports and another recent CSR study. There were four Finnish managers as interviewees of whom three presented companies and one non-profit organization. The results were somewhat convergent but differences arose as a result of the companies being at different stages as regards corporate responsibility. However, this provided only more insight into the implementation of CSR. The voluntary CSR initiatives, responsibility reporting, stakeholders and CSR management were identified as the most important viewpoints on the practical side of CSR, besides a key requirement for the integration of CSR into business to be credible was found to be a favorable management attitude. Based on the findings of this study it was admitted that giving concrete advice on CSR management is really a challenge and there is no one generally accepted and right manner to integrate corporate responsibility successfully into business.

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.

Foreign companies’ strategies on the Russian market during the crisis

Concept of crisis is the subject of many studies and publications in specialized articles and in journalistic publications. The thesis includes next key objectives: concept of the crisis is defined, disclosed external and internal factors affected company’s strategy, shown specific characteristics of Russian market and their influence on the foreign companies. The Master’s Thesis identifies successful foreign companies’ strategies on the Russian market during crises in 2008 and 2014. The study is qualitative and it is based on integrative analysis of literature, secondary data and results of the interview, conducted among foreign companies that operates on the Russian market Findings of the thesis show an effect of the crisis on the company’s strategy. It provides information about specific external and internal factors that affects on company’s strategy during the crisis. Theoretical findings help to understand complex concept of crisis and its main aspects in context of strategy. Analysis of specific characteristics of Russian market provides a base for assessment of efficiency of chosen strategy. Comparison between Russian cresses and companies behaviors in these periods shows how different is strategy because of the nature of the crisis. Results of the thesis could be used as a guideline for foreign companies in Russian market during the crisis period

The impact of industrial context and institutional factors on innovation and internationalization of Russian companies

Innovation and internationalization nowadays play significant role in formation of the competitive advantage for the companies and it is important to explore these processes deeply and use their potential. Such parameters, as industrial context and institutional factors, are essential parts of the business life and their influence may be crucial for the company’s performance. The Master’s Thesis explores impact of industrial context and institutional factors on innovation and internationalization of Russian companies. This research is quantitative and based on the analysis of the relevant scientific literature and results of the survey, conducted among Russian manufacturing companies. Findings show positive influence of industrial context factor “international threat” and institutional environment factor “lack of resources and the market imperfections” on internationalization of innovative Russian companies.

Kiinteistön välillinen omistaminen konsernirakenteessa kiinteistöstä saatavan tulon tuloverotuksen näkökulmasta

Pro gradu –tutkielman ensisijaisena tavoitteena on selvittää miksi kiinteistön omista-minen on perusteltua järjestää konsernissa kiinteistöyhtiön välityksellä. Tutkielman aiheen käsittely on rajattu koskemaan vain kotimaista lainsäädäntöä. Tutkimuson-gelman perusteella tutkielmassa keskitytään tarkastelemaan emoyhtiön näkökulmas-ta siihen kohdistuvia tuloverovaikutuksia, kun se omistaa kiinteistöyhtiön. Tutkielmas-sa on tutkimusmetodina sovellettu lainoppia ja tutkimus kuuluu vero-oikeuden alaan. Koska vero-oikeutta tulkitaan lain sanamuodon mukaisesti, tutkimuksessa annetaan runsaasti painoarvoa voimassa olevalle lainsäädännölle. Kuitenkin tulkinnanvaraisis-sa kysymyksissä tutkielmassa on myös hyödynnetty korkeimman hallinto-oikeuden ratkaisukäytäntöä sekä vero-oikeudellista kirjallisuutta. Tutkielmassa selvitettyjen seikkojen perusteella voidaan todeta, että yksiselitteisen tulkintasuosituksen antaminen tutkimusongelman ratkaisemiseksi on haastavaa, kos-ka jokaisen yrityksen tarpeet kiinteistön omistamiseen vaihtelevat liiketoiminnan olo-suhteiden mukaisesti. Toisaalta konsernirakenteen synnyttämistä emoyhtiön ja kiin-teistöyhtiön välille voidaan perustella esimerkiksi osinkotulon verotehokkaalla kana-voimiselle kiinteistöyhtiön tasolta emoyhtiölle sekä konsernin efektiivisen veroasteen pienentämisellä konserniyhtiöiden välisen lainan avulla. Lisäksi kiinteistöyhtiön luovu-tustilanteessa verotuksen tulolähdejaon merkitys korostuu, kun ratkaistaan voidaanko myyntiin soveltaa elinkeinoverolain mukaista käyttöomaisuusosakkeiden luovutuksen verovapaussäännöksiä, ja toisaalta, miten mahdollisia kiinteistöyhtiön myynnistä johtuvia luovutustappioita käsitellään emoyhtiön tuloverotuksen näkökulmasta.

Deinking sludge utilization possibilities: technical, economic, and environmental assessments

This report introduces the ENPI project called “EMIR - Exploitation of Municipal and Industrial Residues” which was executed in a co-operation between Lappeenranta University of Technology (LUT), Saint Petersburg State University of Economics (SPbSUE), Saint Petersburg State Technical University of Plant Polymers (SPbSTUPP) and industrial partners from both Leningrad Region (LR), Russia and Finland. The main targets of the research were to identify the possibilities for deinking sludge management scenarios in co-operation with partner companies, to compare the sustainability of the alternatives, and to provide recommendations for the companies in the Leningrad Region on how to best manage deinking sludge. During the literature review, 24 deinking sludge utilization possibilities were identified, the majority falling under material recovery. Furthermore, 11 potential utilizers of deinking sludge were found within the search area determined by the transportation cost. Each potential utilizer was directly contacted in order to establish cooperation for deinking sludge utilization. Finally, four companies, namely, “Finnsementti” – a cement plant in Finland (S1), “St.Gobian Weber” – a light-weight aggregate plant in Finland (S2), “LSR-Cement” – a cement plant in LR (S3), and “Rockwool” – a stone wool plant in LR (S4) were seen as the most promising partners and were included in the economic and environmental assessments. Economic assessment using cost-benefit analysis (CBA) indicated that substitution of heavy fuel oil with dry deinking sludge in S2 was the most feasible option with a benefit/cost ratio (BCR) of 3.6 when all the sludge was utilized. At the same time, the use of 15% of the total sludge amount (the amount that could potentially be treated in the scenario) resulted in a BCR of only 0.16. The use of dry deinking sludge in the production of cement (S3) is a slightly more feasible option with a BCR of 1.1. The use of sludge in stone wool production is feasible only when all the deinking sludge is used and burned in an existing incineration plant. The least economically feasible utilization possibility is the use of sludge in cement production in Finland (S1) due to the high gate fee charged. Environmental assessment was performed applying internationally recognized life cycle assessment (LCA) methodologies: ISO 14040 and ISO 14044. The results of a consequential LCA stated that only S1 and S2 lead to a reduction of all environmental impacts within the impact categories chosen compared to the baseline scenario where deinking sludge is landfilled. Considering S1, the largest reduction of 13% was achieved for the global warming potential (GWP), whereas for S2, the largest decrease of abiotic depletion potential (ADP) was by 1.7%, the eutrophication potential (EP) by 1.8%, and a GWP of 2.1% was documented. In S3, the most notable increase of ADP and acidification potential (AP) by 2.6 and 1.5% was indicated, while the GWP was reduced by 12%, the largest out of all the impact categories. In S4, ADP and AP increased by 2.3 and 2.1% respectively, whereas ODP was reduced by 25%. During LCA, it was noticed that substitution of fuels causes a greater reduction of environmental impact (S1 and S2) than substitution of raw materials (S3 and S4). Despite a number of economically and environmentally acceptable deinking sludge utilization methods being assessed in the research, evaluation of bottlenecks and communications with companies’ representatives uncovered the fact that the availability of the raw materials consumed, and the risks associated with technological problems resulting from the sludge utilization, limited the willingness of industrial partners to start deinking sludge utilization. The research results are of high value for decision-makers at already existing paper mills since the result provide insights regarding alternatives to the deinking sludge utilization possibilities already applied. Thus, the research results support the maximum economic and environmental value recovery from waste paper utilization.

Sähköpostista sosiaaliseen mediaan - sosiaalisen median strategia muoviteollisuusalan yritykselle

Sosiaalinen media on muuttanut markkinointia vuorovaikutteisuudella, avoimuudella ja läpinäkyvyydellä. Siksi yritysten kannattaa miettiä kuinka ja miksi lähteä mukaan sosiaaliseen mediaan. Tutkimusta asiasta on rajallisesti ja siksi tässä työssä rakennetaan sosiaalisen media strategia muoviteollisuusalan yritykselle. Työn empiirisessä osuudessa sosiaalisen median strategisia tavoitteita kysyttiin Uponorin johdolta sähköpostikyselyllä. Tulokset analysoitiin kvalitatiivisesti. Lisäksi kartoitettiin Uponorin henkilökunnalle tehdyn verkkopohjaisen lähtötila-analyysin avulla sosiaalisen median käyttöönottoa edistäviä ja estäviä tekijöitä yrityksissä. Aineisto analysoitiin kvantitatiivisin menetelmin. Tulosten perusteella myönteinen suhtautuminen voi edistää sosiaalisen median käyttöönottoa yrityksissä. Toisaalta tutkimuksessa ei voitu osoittaa, että yrityskulttuuriset tekijät estäisivät sosiaalisen median käyttöönottoa. Sosiaalisen median strategia rakennettiin teorian ja kyselyiden tulosten perusteella. Sosiaalisen median käyttö yrityksissä lisääntyy, joten jatkotutkimusta tarvitaan sosiaalisen median hyödyntämisestä yrityskontekstissa myös ulkoisten sidosryhmien osalta.

The Determinants of Financial Leverage of Large Publicly Listed Companies - Evidence from Nordic Telecom Sector

This thesis examines the determinants of financial leverage ratio of large publicly listed companies within Nordic Telecom sector. The study is done as a case study and it covers 5 case companies headquartered in Nordic countries during period of 2002 - 2014 and by using restated values of quarterly observations from each case company’s interim reports. The chosen hypotheses are tested with multiple linear regressions firm by firm. The Findings of the study showed that uniqueness of Telecom sector and the region of our sample could not provide us unequivocal determinants of leverage ratio within the sector. However, e.g. Pecking order theory’s statement of Liquidity was widely confirmed by 3 out of 5 case companies which is worth to be taken into account in the big picture. The findings also showed that theories and earlier empirical evidence are confirmed by our case companies individually and non-systematically. Though Telecom sector is considered as quite unique industry and we did not discover absolute common relationships that would have held through all the Nordic case companies, we got unique and valuable evidence to conduct the research of this sector in future.

Evaluation of Major E-commerce Companies Business Model

Technological advances have enabled a large spread of online retailers. E-commerce business is challenging the nature of traditional foundation of trade, therefore trade is on transition. The Internet allows consumers to compare and examine online store offerings, regardless of place and time. Digitalization has created new opportunities for creating customer value. The growing trend towards online shopping world has taken place in a very short period of time. Businesses, either use e-commerce as an additional operation, or completely rely, on the Internet business opportunities. The aim of this Master`s thesis is to define and evaluate key business model factors of two major e-commerce companies, Alibaba.com and Amazon.com. These key business model factors have a positive effect on successful e-commerce business. In addition, Alibaba.com and Amazon.com are compared with the help of these identified factors. Moreover, e-commerce business factors provide opportunities to create greater customer value regardless of the industry. Customer value is the core of business and a competitive advantage. Customer value is defined as a ratio between sacrifices and benefits. E-commerce companies should effectively evaluate customer value, so they could customize their offerings to meet better desired customer needs. Even though e-commerce business is a relatively new phenomenon, it has been widely studied

Challenges of user-driven innovations on late stages of innovation process: evidence from ICT companies

The goal of this thesis is to study user-driven innovations and user involvement throughout the innovation process in context of B2B companies. Significant emphasis in the analysis put onto the late stages of innovation process and commercialization of innovations. Thesis includes detailed review of theoretical concepts and underlying frameworks of innovation process, lead users and user-driven innovations. The empirical part of the thesis consist of interviews of the four companies from ICT industry, followed by the comprehensive analysis and comparison of the results. The presented findings indicate common challenges, which ICT companies face, when shifting towards innovation by users paradigm. Linkages and connections among current situation and theoretical frameworks presented in the discussion part of the thesis allow to draw practical managerial implications. The results of the research emphasize valuable insights and challenges of user interactions within innovation process as well as output and participation related benefits for the companies and users. The research points out current state of the user involvement techniques and tools used for user interactions as well as suggests the possibilities for improvement in the future.

The Utilization of Chinese Social Media in Internationalization into China: Perspective of a Western Company

The purpose of this qualitative research is to analyze western-based companies’ social media usage in internationalization into China and to identify social media presence’ impact on the internationalization process. Additionally, the benefits and challenges a western company may face while using social media in China will be illustrated. Competitive advantages, knowledge, networks and relations, and costs and risks could be identified as the key antecedents for successful internationalization. A great social media presence could create a competitive advantage for a western company while competitive advantages may be communicated in social media marketing, knowledge and networks can be enhanced and utilized in internationalization via social media two-way communication. The biggest benefit for internationalization resulted from decreased marketing costs due to cost-effectiveness of social media. The results revealed that cost effective brand awareness was the main benefit from the social media usage in internationalization into China. However, companies struggled with the limited resources and despite of understanding the importance of Chinese social media, lacked sufficient resources for the social media operations. Companies should determine clear strategy and goals that they are willing to achieve via social media in internationalization process, and allocate required resources according to the social media strategy. Localization of the social media operations is important in China, and business-to-consumer companies tend to benefit more from the social media presence. Business-to-business companies may increase the brand’s credibility by successful Chinese social media operations.

Guidelines for small embedded system companies aiming to enter the space industry

This guide summarizes useful information about the European Space Agency (ESA), the European space industry, the ECSS standards and product assurance for small and medium enterprises that are aiming to enter the industry. Additionally, the applicability of agile development in space projects is discussed.

Effects of internationalization on packaging decisions of manufacturing companies

The world has witnessed a great deal of globalization and a rise in international activities in recent years compared to decades ago. This has contributed to an upsurge in competition among manufacturing firms resulting in the use of different marketing strategies to survive. Packaging is one of the tools that has been used by marketers to make products different and appealing to both local and international customers. The purpose of this research work was to investigate more on packaging as a marketing tool and how internationalization affects the decisions management makes in relation to it. To this effect, a qualitative research was conducted using five manufacturing companies as case studies and data collected through semi-structured interviews and also personal observation. Secondary sources were also used in order to get deeper insight into the case companies under study. The study revealed that there are many advantages that internationalization provides firms. The general revelations made by the firms that were researched did not point to a negative impact of internationalization on their packaging decisions. Internationalization has provided positive improvements on their packaging and made them more competitive. This proves that for packaging decisions to improve better, one key enabler will be exposure to the international environment since it provides a wider array of options for package improvements for firms.