Value of Information Logistics Integration in Digital Business Ecosystem

Digital business ecosystems (DBE) are becoming an increasingly popular concept for modelling and building distributed systems in heterogeneous, decentralized and open environments. Information- and communication technology (ICT) enabled business solutions have created an opportunity for automated business relations and transactions. The deployment of ICT in business-to-business (B2B) integration seeks to improve competitiveness by establishing real-time information and offering better information visibility to business ecosystem actors. The products, components and raw material flows in supply chains are traditionally studied in logistics research. In this study, we expand the research to cover the processes parallel to the service and information flows as information logistics integration. In this thesis, we show how better integration and automation of information flows enhance the speed of processes and, thus, provide cost savings and other benefits for organizations. Investments in DBE are intended to add value through business automation and are key decisions in building up information logistics integration. Business solutions that build on automation are important sources of value in networks that promote and support business relations and transactions. Value is created through improved productivity and effectiveness when new, more efficient collaboration methods are discovered and integrated into DBE. Organizations, business networks and collaborations, even with competitors, form DBE in which information logistics integration has a significant role as a value driver. However, traditional economic and computing theories do not focus on digital business ecosystems as a separate form of organization, and they do not provide conceptual frameworks that can be used to explore digital business ecosystems as value drivers—combined internal management and external coordination mechanisms for information logistics integration are not the current practice of a company’s strategic process. In this thesis, we have developed and tested a framework to explore the digital business ecosystems developed and a coordination model for digital business ecosystem integration; moreover, we have analysed the value of information logistics integration. The research is based on a case study and on mixed methods, in which we use the Delphi method and Internetbased tools for idea generation and development. We conducted many interviews with key experts, which we recoded, transcribed and coded to find success factors. Qualitative analyses were based on a Monte Carlo simulation, which sought cost savings, and Real Option Valuation, which sought an optimal investment program for the ecosystem level. This study provides valuable knowledge regarding information logistics integration by utilizing a suitable business process information model for collaboration. An information model is based on the business process scenarios and on detailed transactions for the mapping and automation of product, service and information flows. The research results illustrate the current cap of understanding information logistics integration in a digital business ecosystem. Based on success factors, we were able to illustrate how specific coordination mechanisms related to network management and orchestration could be designed. We also pointed out the potential of information logistics integration in value creation. With the help of global standardization experts, we utilized the design of the core information model for B2B integration. We built this quantitative analysis by using the Monte Carlo-based simulation model and the Real Option Value model. This research covers relevant new research disciplines, such as information logistics integration and digital business ecosystems, in which the current literature needs to be improved. This research was executed by high-level experts and managers responsible for global business network B2B integration. However, the research was dominated by one industry domain, and therefore a more comprehensive exploration should be undertaken to cover a larger population of business sectors. Based on this research, the new quantitative survey could provide new possibilities to examine information logistics integration in digital business ecosystems. The value activities indicate that further studies should continue, especially with regard to the collaboration issues on integration, focusing on a user-centric approach. We should better understand how real-time information supports customer value creation by imbedding the information into the lifetime value of products and services. The aim of this research was to build competitive advantage through B2B integration to support a real-time economy. For practitioners, this research created several tools and concepts to improve value activities, information logistics integration design and management and orchestration models. Based on the results, the companies were able to better understand the formulation of the digital business ecosystem and the importance of joint efforts in collaboration. However, the challenge of incorporating this new knowledge into strategic processes in a multi-stakeholder environment remains. This challenge has been noted, and new projects have been established in pursuit of a real-time economy.

Family ownership – a source of sustainable success in listed companies

Extant research on exchange-listed firms has acknowledged that the concentration of ownership and the identity of owners make a difference. In addition, studies indicate that firms with a dominant owner outperform firms with dispersed ownership. During the last few years, scholars have identified one group of owners, in particular, whose ownership stake in publicly listed firm is positively related to performance: the business family. While acknowledging that family firms represent a unique organizational form, scholars have identified various concepts and theories in order to understand how the family influences organizational processes and firm performance. Despite multitude of research, scholars have not been able to present clear results on how firm performance is actually impacted by the family. In other words, studies comparing the performance of listed family and other types of firms have remained descriptive in nature since they lack empirical data and confirmation from the family business representatives. What seems to be missing is a convincing theory that links the involvement and behavioral consequences. Accordingly, scholars have not yet come to a mutual understanding of what precisely constitutes a family business. The variety of different definitions and theories has made comparability of different results difficult for instance. These two issues have hampered the development of a rigorous theory of family business. The overall objective of this study is to describe and understand how the family as a dominant owner can enhance firm performance, and can act a source of sustainable success in listed companies. In more detail, in order to develop understanding of the unique factors that can act as competitive advantages for listed family firms, this study is based on a qualitative approach and aims at theory development, not theory verification. The data in this study consist of 16 thematic interviews with CEOs, members of the board, supervisory board chairs, and founders of Finnish listed-family firms. The study consists of two parts. The first part introduces the research topic, research paradigm, methods, and publications, and also discusses the overall outcomes and contributions of the publications. The second part consists of four publications that address the research questions from different viewpoints. The analyses of this study indicate that family ownership in listed companies represents a structure that differs from the traditional views of agency and stewardship, as well as from resource-based and stakeholder views. As opposed to these theories and shareholder capitalism which consider humans as individualistic, opportunistic, and self-serving, and assume that the behaviors of an investor are based on the incentives and motivations to maximize private profits, the family owners form a collective social unit that is motivated to act together toward their mutual purpose or benefit. In addition, socio-emotional and psychological elements of ownership define the family members as owners, rather than the legal and financial dimensions of ownership. That is, collective psychological ownership of family over the business (F-CPO) can be seen as a construct that comprehensively captures the fusion between the family and the business. Moreover, it captures the realized, rather than merely potential, family influence on and interaction with the business, and thereby brings more theoretical clarity of the nature of the fusion between the family and the business, and offers a solution to the problem of family business definition. This doctoral dissertation provides academics, policy-makers, family business practitioners, and the society at large with many implications considering family and business relationships.

Establishment of new murine embryonic stem cell lines for the generation of mouse models of human genetic diseases

Embryonic stem cells are totipotent cells derived from the inner cell mass of blastocysts. Recently, the development of appropriate culture conditions for the differentiation of these cells into specific cell types has permitted their use as potential therapeutic agents for several diseases. In addition, manipulation of their genome in vitro allows the creation of animal models of human genetic diseases and for the study of gene function in vivo. We report the establishment of new lines of murine embryonic stem cells from preimplantation stage embryos of 129/Sv mice. Most of these cells had a normal karyotype and an XY sex chromosome composition. The pluripotent properties of the cell lines obtained were analyzed on the basis of their alkaline phosphatase activity and their capacity to form complex embryoid bodies with rhythmically contracting cardiomyocytes. Two lines, USP-1 and USP-3, with the best in vitro characteristics of pluripotency were used in chimera-generating experiments. The capacity to contribute to the germ line was demonstrated by the USP-1 cell line. This cell line is currently being used to generate mouse models of human diseases.

Predicting bankruptcy of Finnish limited liability companies from historical financial statements

This master’s thesis studies the probability of bankruptcy of Finnish limited liability companies as a part of credit risk assessment. The main idea of this thesis is to build and test bankruptcy prediction models for Finnish limited liability companies that can be utilized in credit decision making. The data used in this thesis consists of historical financial statements from 2112 Finnish limited liability companies, half of which have filed for bankruptcy. A total of four models are developed, two with logistic regression and two with multivariate discriminant analysis (MDA). The time horizon of the models varies from 1 to 2 years prior to the bankruptcy, and 14 different financial variables are used in the model formation. The results show that the prediction accuracy of the models ranges between 81.7% and 88.9%, and the best prediction accuracy is achieved with the one year prior the bankruptcy logistic regression model. However the difference between the best logistic model and the best MDA model is minimal. Overall based on the results of this thesis it can be concluded that predicting bankruptcy is possible to some extent, but naturally the results are not perfect.

Y-sukupolven johtaminen – odotukset esimiestyöltä

Y-sukupolven oikeantyylinen johtaminen sekä osaamisen hyödyntäminen ja kehittäminen ovat johtamisen haasteena organisaatioissa, jotka toimivat digitaalista osaamista vaativien tuotteiden ja palvelujen parissa. Tämän tutkimuksen tarkoituksena oli tutkia, minkälaisia odotuksia Y-sukupolvella on esimiestyötä ja johtamista kohtaan. Tutkimuksen tavoitteena oli tuottaa tutkimuksen kohdeyrityksen johtamisen kehittämistä varten nuorten työntekijöiden odotukset heihin kohdistuvasta esimiestyöstä. Tutkimuksen tavoitteena oli myös tuottaa tutkittua tietoa Y-sukupolven johtamista koskevaan keskusteluun. Tutkimus oli laadullinen tutkimus, joka toteutettiin haastattelemalla kohdeyrityksen nimeämästä joukosta 12 Y-sukupolven edustajaa. Tutkimusmenetelmänä oli puolistrukturoitu teemahaastattelu. Haastatteluissa kohderyhmään kuuluvat kertoivat omiin mielipiteisiinsä perustuen ajatuksiaan ja odotuksiaan tutkijan määrittämiin teemoihin. Haastatteluteemat olivat: työ ja työn merkitys, kokemukset ja odotukset esimieheen liittyen sekä heidän oman osaamisen hyödyntäminen ja kehittäminen. Tutkimuksen tuloksena havaittiin, että Y-sukupolvi odottaa esimiestyöltä ensisijaisesti johtamista. Esimiehen täytyy pitää organisaatiossa langat käsissään; toimia suunnannäyttäjänä, organisoida ja olla jämäkkä. Esimiehen tulee olla ominaisuuksiltaan kyvyiltään sellainen, jonka johtaminen on selkeää, oikeudenmukaista ja vuorovaikutteista. Y-sukupolvi odottaa selkeitä tavoitteita, oikeudenmukaista ja tasapuolista kohtelua ja palkkaa sekä jatkuvaa palautteeseen ja sparraamiseen liittyvää vuorovaikutusta esimiehen kanssa. Y-sukupolvi odottaa myös, että esimies hyödyntää ja kehittää heidän osaamistaan.

A third generation regimen VACOP-B with or without adjuvant radiotherapy for aggressive localized non-Hodgkin's lymphoma: report from the Italian Non-Hodgkin's Lymphoma Co-operative Study Group

The objective of this multicenter prospective study was to determine the clinical efficacy and toxicity of a polychemotherapeutic third generation regimen, VACOP-B, with or without radiotherapy as front-line therapy in aggressive localized non-Hodgkin's lymphoma. Ninety-three adult patients (47 males and 46 females, median age 45 years) with aggressive localized non-Hodgkin's lymphoma, 43 in stage I and 50 in stage II (non-bulky), were included in the study. Stage I patients received VACOP-B for 6 weeks plus involved field radiotherapy and stage II patients received 12 weeks VACOP-B plus involved field radiotherapy on residual masses. Eighty-six (92.5%) achieved complete remission and 4 (4.3%) partial remission. Three patients (3.2%) were primarily resistant. Ten-year probability of survival, progression-free survival and disease-free survival were 87.3, 79.9 and 83.9%, respectively. Eighty-four patients are surviving at a median observation time of 57 months (range: 6-126). Statistical analysis showed no difference between stages I and II in terms of response, ten-year probability of survival, progression-free survival or disease-free survival. Side effects and toxicity were negligible and were similar in the two patient groups. The results of this prospective study suggest that 6 weeks of VACOP-B treatment plus radiotherapy may be the therapy of choice in stage I aggressive non-Hodgkin's lymphoma. Twelve weeks of VACOP-B treatment with or without radiotherapy was shown to be effective and feasible for stage II. These observations need to be confirmed by a phase III study comparing first and third generation protocols in stage I-II aggressive non-Hodgkin's lymphoma.

Lean Innovation in Large Companies: a Case of Implementation in R&D

The main objective of the study is to evaluate the impact of Lean Innovation management philosophy on the creativity potential of the large multinational enterprise. A theory of Lean Innovation indicates that the modern company in any industry can successfully combine both waste-decreasing approach and innovative potential promotion through creativity cultivation or, at least, preservation. The theoretical part of the work covers the main factors, pros and cons of Lean thinking and Innovation management separately, along with generalized new product development overview. While the modern international market becomes more accessible for entrepreneural initiatives, small enterprises and start-ups, large international corporations are more subject to adopt the Lean Innovation approach in both operational and product development sectors due to extended resources and capabilities. Moreover, a multinational enterprise is a highly probable pioneer in Lean innovation implementation. The empirical part of the thesis refers to a case of large European enterprise, operating in many markets around the globe, that currently undergoes innovation management adjustments and implementations in product development while already have related themselves with operational process optimization process through Lean thinking. A goal of the work is to understand what kind of difficulties and consequences a large international firm faces when dealing with Lean Innovation to improve own performance, if they can be sealed for generalized approach.

MARKETING COMMUNICATIONS IN B2B COMPANIES – The Roles of Marketing Communication Tools in the Digital Age

Marketing communications has gone through significant changes during the last decades and new online tools have been leading this change for the last decade. Now, in the digital age, if wanting to be successful companies need to experiment new things and seize the opportunities online provides and adapt to the new environment. However, during this time the marketing communication mix and the meanings given to the various components of it have not changed dramatically, and personal selling, direct marketing, sales promotion, advertising and public relations activities are still regarded as important tools in the marketing communications mix. The purpose of this study was to examine business-to-business marketing communications and the tools used by companies in their marketing communications efforts in the digital age and in a global environment. The research questions dealt with the marketing communication tools and their roles as well as the role of online marketing communication and the way it has shaped the field of b2b marketing communications. In order to answer these questions, qualitative approach was chosen and the data was collected by theme interviews with six representatives of Finnish global companies from the b2b sector being interviewed. The theoretical framework covers the general field of b2b marketing communications and its main elements. The online environment as well as the concept of a global marketplace and integrated approach to marketing communication activities is also discussed. The theory was supported by the interviews regarding the activities and roles of the marketing communication tools and both theory as well as the interviews found personal selling to be a vital tool. However, the importance of online has grown and online marketing activities have risen right next to personal selling. The use of analytics and marketing automation was found to be of great interest in the interviews and they were seen as a growing domain in b2b marketing communications. The importance of targeted and personalised messages from relevant medias was a repeating theme as was the customer-centric approach in marketing communication activities. Also, offline and online tools and channels were seen as something that should be treated together as an entity rather than as separate activities. Relevant content created according to the needs of the customer with the gathered data from analytics were seen as the future of b2b marketing communications. Online has added its input to the more traditionally perceived tools and they are executed within the framework of the digital age. Nevertheless, even though online has increased its presence in the b2b marketing communications mix, the more traditionally perceived marketing communication tools, especially personal selling, have not lost their meaning or place in the b2b marketing communication mix.

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.

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

Yritysten sähkön kysyntäjouston tuotteistaminen

Muuttuva sähköntuotantorakenne yhdessä Euroopan yhdentyvien sähkömarkkinoiden kanssa muuttaa energiayhtiöiden toimintaympäristöä tulevaisuudessa. Markkinoilta poistu-va säätökykyinen lauhdevoima ja lisääntyvä säiden mukaan vaihteleva tuuli- ja aurin-koenergia lisäävät säätövoiman tarvetta energiajärjestelmässä. Osa lisääntyvästä säätövoi-man tarpeesta voidaan kattaa kulutuksen kysyntäjoustoa lisäämällä. Tässä työssä tavoitteena on kehittää Savon Voima Oyj:lle kysyntäjoutopalvelu yritysasiak-kaille. Työssä kartoitetaan kysyntäjouston eri markkinapaikkojen mahdollisuuksia kysyntä-jouston toteuttamiselle, sekä käydään läpi niiden asettamia rajoitteita kysyntäjouston to-teuttamisen kannalta. Työn osana kehitettyä kysyntäjouston potentiaalin laskentatyökalua käytetään arvioitaessa valittujen pilottiasiakkaiden potentiaalia Elspot-markkinoille osallistuvan kysyntäjouston osalta. Laskennan tulosten perusteella kysyntäjouston toteuttaminen Elspot-markkinoille on kannattavaa valittujen pilottiasiakkaiden kohdalla. Työssä käydään läpi kysyntäjoustopalvelun prosessia, sen vaiheita sekä huomioon otettavia asioita tarjottaessa kysyntäjoustopalvelua yrityksille. Lopuksi esitetään liiketoimintamalli, jolla palvelua lähdetään yritysasiakkaille tarjoamaan. Liiketoimintamallissa esitetään koh-deryhmät ja markkinat kysyntäjouston toteuttamiselle.

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.

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.

Pharmacogenetic polymorphisms in Brazilian-born, first-generation Japanese descendants

Brazil hosts the largest Japanese community outside Japan, estimated at 1.5 million individuals, one third of whom are first-generation, Brazilian-born with native Japanese parents. This large community provides a unique opportunity for comparative studies of the distribution of pharmacogenetic polymorphisms in native Japanese versus their Brazilian-born descendants. Functional polymorphisms in genes that modulate drug disposition (CYP2C9, CYP2C19 and GSTM3) or response (VKORC1) and that differ significantly in frequency in native Japanese versus Brazilians with no Japanese ancestry were selected for the present study. Healthy subjects (200 native Japanese and 126 first-generation Japanese descendants) living in agricultural colonies were enrolled. Individual DNA was genotyped using RFLP (GSTM3*A/B) or TaqMan Detection System assays (CYP2C9*2 and *3; CYP2C19*2 and *3; VKORC1 3673G>A, 5808T>G, 6853G>C, and 9041G>A). No difference was detected in the frequency of these pharmacogenetic polymorphisms between native Japanese and first-generation Japanese descendants. In contrast, significant differences in the frequency of each polymorphism were observed between native or first-generation Japanese and Brazilians with no Japanese ancestry. The VKORC1 3673G>A, 6853G>C and 9041G>A single nucleotide polymorphisms were in linkage disequilibrium in both native and first-generation Japanese living in Brazil. The striking similarity in the frequency of clinically relevant pharmacogenetic polymorphisms between Brazilian-born Japanese descendants and native Japanese suggests that the former may be recruited for clinical trials designed to generate bridging data for the Japanese population in the context of the International Conference on Harmonization.