Improvement of Energy Efficiency in a Gold Mining Industry: Case Study of a Russian Gold Mining Company

The issue of energy efficiency is attracting more and more attention of academia, business and policy makers worldwide due to increasing environmental concerns, depletion of non-renewable energy resources and unstable energy prices. The significant importance of energy efficiency within gold mining industry is justified by considerable energy intensity of this industry as well as by the high share of energy costs in the total operational costs. In the context of increasing industrial energy consumption energy efficiency improvement may provide significant energy savings and reduction of CO2 emission that is highly important in order to contribute to the global goal of sustainability. The purpose of this research is to identify the ways of energy efficiency improvement relevant for a gold mining company. The study implements single holistic case study research strategy focused on a Russian gold mining company. The research involves comprehensive analysis of company’s energy performance including analysis of energy efficiency and energy management practices. This study provides following theoretical and managerial contributions. Firstly, it proposes a methodology for comparative analysis of energy performance of Russian and foreign gold mining companies. Secondly, this study provides comprehensive analysis of main energy efficiency challenges relevant for a Russian gold mining company. Finally, in order to overcome identified challenges this research conceives a guidance for a gold mining company for implementation of energy management system based on the ISO standard.

Managing the change of organizational culture in cross-border mergers and acquisitions: The role of post-acquisition integration in organizational culture change

Over the years, cross-border mergers and acquisitions have become a popular strategic option for variety of firms. Companies often seek rapid growth through acquiring potentially valuable enterprises or attempting to enhance their organization’s profitability by merging with other firms. However, managing the change of organizational culture is a major managerial challenge as companies often confront difficulties when merging two previously autonomous organizational cultures into one, joint organizational culture. Therefore, the purpose of this study is to increase understanding related to the challenges and possibilities concerning the management of organizational culture change in cross-border mergers and acquisitions. The research question “How to manage the change of organizational culture in cross-border mergers and acquisitions?” is analysed in relation to the theories presented in this thesis regarding organizational culture, organizational change and acculturation as well as in relation with the collected empirical data. The research question is divided into three sub-questions according to the following: (1) “What is the role of organizational culture in organizations?”, (2) “How to manage organizational change in mergers and acquisitions?” and (3) “How to manage organizational culture change through acculturation?”. The thesis is conducted as a qualitative case study research including three personal interviews and one group interview. The interviews were conducted as a combination of semi-structured and unstructured interviews. Theories related to organizational culture, the management of change as well as acculturation are studied and further analysed in relation to empirical material collected by the researcher. Research findings indicate that that several factors can influence the success of managing the organizational culture change in cross-border mergers and acquisitions. Factors such as defining the preferred acculturation model prior the merger; managing the resistance of change; open communication; acknowledgement of local culture and cultural differences; involvement of personnel in change processes; as well as the formulation and implementation of comprehensive change plans proved to be important factors with relation to successful management of organizational culture change

The roles and tasks of salespeople in Software-as-a-Service company's value-based sales process

Recent research in relationships marketing and sales and sales management emphasizes companies’ ability to create customer value as a core of all business-to-business relationships. The role of individual salespeople in business relation-ships is commonly acknowledged, but has been largely neglected in extant literature. This study offers especially more detailed perspective on salespeople’s roles and tasks in business-to-business value-based sales process. It focuses especially on Software-as-a-Service business environment. The objective of the study is to find out how salespeople can create value in Software-as-a-Service value-based sales process. It determines value-based sales process, salespeople’s roles and tasks in it, and combines value assessment in to process. The results indicate that salespeople have to adapt different selling roles and tasks in Software-as-a-Service value-based sales process to be able to support the customer’s value-in-use experience. The process itself is highly complex, consisting of multiple facets and selling behaviors, and involves relevant actors from both parties of relationship. The study concludes with a discussion of possibilities that provide interesting aspects for future research.

Data and Inventory Management in Spare Part Business: Developing Operations in the Case Company

After sales business is an effective way to create profit and increase customer satisfaction in manufacturing companies. Despite this, some special business characteristics that are linked to these functions, make it exceptionally challenging in its own way. This Master’s Thesis examines the current situation of the data and inventory management in the case company regarding possibilities and challenges related to the consolidation of current business operations. The research examines process steps, procedures, data requirements, data mining practices and data storage management of spare part sales process, whereas the part focusing on inventory management is reviewing the current stock value and examining current practices and operational principles. There are two global after sales units which supply spare parts and issues reviewed in this study are examined from both units’ perspective. The analysis is focused on the operations of that unit where functions would be centralized by default, if change decisions are carried out. It was discovered that both data and inventory management include clear shortcomings, which result from lack of internal instructions and established processes as well as lack of cooperation with other stakeholders related to product’s lifecycle. The main product of data management was a guideline for consolidating the functions, tailored for the company’s needs. Additionally, potentially scrapped spare part were listed and a proposal of inventory management instructions was drafted. If the suggested spare part materials will be scrapped, stock value will decrease 46 percent. A guideline which was reviewed and commented in this thesis was chosen as the basis of the inventory management instructions.

Carbon pricing and its effect on company profitability

In order to reach the 2°C climate target, the carbon price should rise significantly in order for it to be financially rewarding for companies to reduce their emissions. This research aims to find how a significant increase in the carbon price would affect the profitability of companies. Prior research has not found consensus on how regulatory policies affect companies. This research looks at profitability factors of carbon pricing through a mix of related issues such as the carbon risk, carbon pricing mechanisms and cost pass-through of additional costs. The research is quantitative and examines financial data and emissions data regarding scope 1 and scope 2 emissions on 328 European companies. The data analysis method utilised is a sensitivity analysis conducted as a scenario analysis. Different price increases and cost pass-through rates are tested to see how company profitability is affected. As the companies are distributed between 9 sectors and 53 industries, the results vary. The industries that are found to be affected by an increase in carbon pricing show drastic negative changes in profitability. The results complement prior research identifying the most carbon-intensive industries, but also provide some new insights on industries that may be affected by carbon pricing. Industries related to manufacturing, electricity and energy are partly significantly impacted, but also industries related to tourism and food show potential signs of impact when an increased carbon price is introduced.

How to reach more potential global b2b customers to Finnish high tech company websites

This thesis examines the optimization of a website in terms of creating website visibility and interesting and attractive online information, with the aim of finding ways how the case company can increase the number of online visitors for the websites, who would even-tually contact the case company, and become customers. The theoretical part concentrates on website visibility, academic knowledge about search engine optimization, integrated marketing communications, website effectiveness and influence tactics (mostly non-coercive) in an online b2b buying context. The empirical part included an experiment of two weeks on the case website. Search engine optimization requires the most relevant key terms and keywords to be selected and carefully implemented to meta descriptions of the most informational pages. The information visible to visitors on these pages was also opti-mized to make it interesting and purposeful for the targeted audience. The most suitable influence tactics were implemented to certain pages to attract the website visitors to con-tact the case company. The results suggest that relevant key terms in meta descriptions do improve, or maintain the same high, ranking a page has on search engine result pages, but this is not directly connected to the amount of visitors to the website. The number of visi-tors does not either affect the amount of customer contacts the company received during the experiment period.

A Drop of Success – Internationalization Readiness of a Young Finnish Company

This study analyzes a young Finnish micro-sized firm that is attempting to reach internationalization readiness in the pre-internationalization stage. The purpose of this research is to analyze and better understand how a young firm reaches internationalization readiness in the pre-internationalization stage. Small firm internationalization is a vastly researched topic. Little emphasis has been placed on the specific antecedents that help the firm reach internationalization readiness in the pre-internationalization stage. The contribution of this research is thus two-fold. First, the research contributes to known theories of firm internationalization. Second, the research further extends knowledge related to how firms reach internationalization readiness specifically in the pre-internationalization stage. The theoretical background of the research involves the traditional stage theory (Uppsala model), pre-internationalization stage theory, international entrepreneurship theory and dynamic capabilities theory. With the help of these four relevant theories, empirical data was collected. The research method utilized in this study was a qualitative single case study combined with critical realist philosophy. The data analysis of this research was conducted using abduction in order to allow freedom in the analysis of the research findings. The empirical data was collected through semi-structured, face-to-face interviews. The key respondents in this study were the two managers of the case company. The findings of this study revealed four important themes from the case company’s perspective towards reaching internationalization readiness in the pre-internationalization stage. Extensive knowledge of the home market and target market were the two most important themes in this research. The next most relevant theme for reaching internationalization readiness in the pre-internationalization stage was the managers’ previous international business experiences. The final theme affecting the firm’s ability to reach internationalization readiness was the firm’s specific resources. Even though the research findings of this study are case sensitive, the research insights and explanations have the potential to be transferred to similar firms and contexts. Future research should therefore aim towards more longitudinal studies in which the context is emphasized. This should include a variety of firms in similar stages of internationalization and contexts. Future studies of this kind would be of great benefit to academia.

Improving purchasing process for small purchases at a manufacturing company in chemical industry

This thesis was conducted on assignment by a multinational chemical corporation as a case study. The purpose of this study is to find ways to improve the purchasing process for small purchases at the case company. The improvements looked after are mainly cost and time savings. Purchasing process is the process that starts from the requisition of goods or services and ends when the invoice is paid. In this thesis the purchases with value less than 1000€ are considered to be small. The theoretical framework of the thesis consists of general theoretical view of costs and performance of the purchasing process, different types of purchasing processes and a model for improving purchasing processes. The categorization to small and large purchases is the most important followed by the division between direct and indirect purchases. Also models that provide more strategic perspective for categorization were found to be useful. Auditing and managerial control are important parts of the purchasing process. When considering the transaction costs of purchasing from the costs–benefits perspective large and small purchases should not have the same processes. Purchasing cards, e-procurement and vendor managed inventory are seen as an alternative to the traditional purchasing process. The empirical data collection was done by interviewing the company employees that take part of the purchasing process in their daily work. The interviews had open-ended questions and the answers were coded and analyzed. The results consist of process description and assessment as well as suggestions for potential improvements. At the case company the basic purchasing process was similar to the traditional purchasing process that is entirely done with computers and online. For some categories there was already more sophisticated e-procurement solutions in use. To improve the current e-procurement based solutions elimination of authorization workflow and better information exchange can be seen as potential improvements for most of the case purchases. Purchasing cards and a lightweight form of vendor managed inventory can be seen as potential improvements for some categories. Implementing the changes incurs at least some cost and the benefits might be hard to measure. This thesis has revealed that the small purchases have potential for significant cost and time savings at the case company.

Arrêt du Conseil d'Etat qui ordonne qu'en payant par le sieur Prévost de Serainville la somme de 6.000 l. et les 2 sols pour livre pour l'acquisition d'un office de secrétaire du Roi, il sera déchargé de toutes taxes pour la recherche de la noblesse

[Acte. 1714-01-16. Versailles]

Arrêt du conseil d'état qui ordonne que les quittances de finance pour l'acquisition des 1800000 livres de rentes héréditaires au denier vingt, créées sur l'imposition des deux sols pour livres en sus du dixième, seront expédiées au choix des acquéreurs en leur nom ou au porteur

[Acte. 1756-08-31. Versailles]

Security, Loan & Savings Company receipt

An 1897 receipt from the Security, Loan & Savings Company to the Grand Central Hotel Co. for $15.00

Implicit and explicit functions in the acquisition of a phonics rule in the word recognition of learning disabled and non learning disabled students /

One group of 12 non learning disabled students and two groups of 12 learning disabled students between the ges of 10 and 12 were measured on implicit and explicit knowledge cquisition. Students in each group implicitly cquired knowledge bout I of 2 vocabulary rules. The vocabulary rules governed the pronunciation of 2 types of pseudowords. After completing the implicit acquisition phase, all groups were administered a test of implicit knowledge. The non learning disabled group and I learning disabled group were then asked to verbalize the knowledge acquired during the initial phase. This was a test of explicit knowledge. All 3 groups were then given a postlest of implicit knowledge. This tcst was a measure of the effectiveness of the employment of the verbalization technique. Results indicate that implicit knowledge capabilities for both the learning disabled and non learning disabled groups were intact. However. there were significant differences between groups on explicit knowledge capabilities. This led to the conclusion that implicit functions show little individual differences, and that explicit functions are affected by ability difference. Furthermore, the employment of the verbalization technique significantly increased POStlest scores for learning disabled students. This suggested that the use of metacognitive techniques was a beneficial learning tool for learning disabled students.

The effect of context on the acquisition of vocabulary in good and poor readers

This study examined the effectiveness of context on the acquisition of new vocabulary for good and poor readers. Twentyeight Grade Three children, fourteen good readers and fourteen poor readers, took part in a word-learning task within three conditions: (1) strong sentence context, (2) weak sentence context, and (3) list condition. The primary hypothesis was that poor readers would show less learning in the list condition than good readers and that there would be no difference in the amount of learning in the sentence conditions. Results revealed that: (a) Words are read faster in sentence contexts than in 1 ist contexts; (b) more learning or greater improvement in performance occurs in list contexts and weak sentence contexts as opposed to strong sentence contexts; and (c) that most of these differences can be attributed to the build-up of meaning in sentences. Results indicated that good and poor readers learned more about words in all three condi tions. More learning and greater performance occurred in the list condition as opposed to the two sentence conditions for both subject groups. However, the poor readers learned significantly more about words in both the list condition and the weak sentence condition than the good readers.