Improving internal performance of a company - Introducing employee empowerment via job redesign in Finnish small and medium sized enterprises

This bachelor's thesis is about to find out to what extent Finnish managers and small and medium sized organizations are willing and able to put employee empowerment into practice and what experiences they have got from employee empowerment as an approach towards job redesign. Some of the top enterprises in the world are known for their empowered employees as a single most important factor for their success and this thesis focuses on introducing the subject to Finnish managers and organizations to find out what benefits, barriers and other thoughts they have about the whole idea of empowered employees in Finnish organization culture. Most notable findings in this thesis are that Finnish managers do think that their organization's employees are capable to work efficiently if their job is extended and the organizations would perform better when right person's job is enriched and he/she is given more power to solve problems.

Crowdfunding and its utilization for startup finance in Finland – factors of a successful campaign

This thesis studies crowdfunding with qualitive methods to introduce the phenomenon as well as provide guidance to those interested in its utilization. Knowledge and ideas were gathered form several sources, from academic literature to commercial media and expert interviews. Crowdfunding has already demonstrated its ability to impact the startup scene but is still far from being utilized to its full extent, especially in Finland, where even its legality has been questioned. Crowd financing can provide capital to entrepreneurs who might not otherwise be able to obtain funding as well as enable crowdsourcing the funders in several ways. A successful campaign, however, requires a wealth of knowledge on the subject, careful planning and hard work on the implementation. The thesis will provide most benefit to entrepreneurs who are considering the use of this new form of finance, but should also be of value for investors, academics, politicians and everyone else interested in the subject.

Transfer pricing documentation differences in Finland and China - Case company study

This Master’s Thesis deals with the topic of transfer pricing documentation in Finland and China. The goal of the research is to find what kind of differences exist in a single case company’s transfer pricing documentation when following Chinese or Finnish transfer pricing regulations. The study is carried out as a case study research. The theoretical framework consists of information from different transfer pricing topics and transfer pricing documentation regulations in China and Finland. The main research material was the case company’s transfer pricing documents with the support of open discus-sion with one of the case company’s employees. The study compared the 2009 and 2010 documents. The 2009 document was done based on the Finnish method while the 2010 document was based on the Chinese documentation principles. The conclusion made is that the content of the documents was heavily similar, while the main differences come in the way the content is presented and the level of detail used in the documents.

Antecedents and Performance Outcomes of Entrepreneurial Orientation: a Comparative Cross-Country Study

Development of entrepreneurial orientation (EO) within a company is considered to be significant for firm performance in a contemporary market society with constantly changing environment. Considered as entrepreneurial, the firm is able to innovate, make risky investments and be proactive. The purpose of the thesis is to investigate factors which influence EO, the impact of EO on firm performance, and a mediating role of EO in developed and emerging market contexts. The empirical research is conducted quantitatively in a form of a survey in Russia and Finland. The results of the thesis have shown that the relationship between antecedents, EO and firm performance outcomes is different in developed and emerging contexts and can be explained by cultural differences and institutional development. The empirical research has both theoretical and practical novelty. It contributes to the existing literature on EO by the usage of comparative cross-country approach and a broader three-way interaction model between the variables. A general practical implication of the research is that managers may benefit from developing entrepreneurial strategic posture in particular contexts.

Esimies osaamisen mahdollistajana

Tämän pro gradu -tutkielman tavoitteena oli esitellä ja analysoida osaami-sen johtamista sekä tuottaa käytännön suosituksia Alko Oy:n myymälöiden lähiesimiehille heidän henkilökuntansa osaamisen kehittämiseksi. Tämän lisäksi tutkimuksessa pyrittiin kerätyn aineiston avulla luomaan ymmärrys siitä, miten osaamisen johtamiset keinot vaikuttavat asiakastyytyväisyyteen. Tutkimus toteutettiin vertailevana tapaustutkimuksena ja tutkimusaineistoa kerättiin sekä kvantitatiivisella että kvalitatiivisella tutkimusmenetelmällä. Kohdeyrityksen myyjille lähetettiin kyselylomake heidän esimiestensä osaamisen johtamisen toimista, ja kyselystä saadun tiedon syventämiseksi haastateltiin kahdeksaa myymäläpäällikköä osaamisen johtamisen teemoista. Tutkimuksen perusteella pystyttiin muodostaman käsitys siitä, mistä osaa-misen johtaminen koostuu ja miten paremman ja heikomman osaamisen omaavien myymälöiden esimiesten toimet eroavat toisistaan. Vastausten perusteella saatiin myös ymmärrys niistä osa-alueista, joita kohdeyrityksen esimiesten toiminnassa pitäisi pyrkiä kehittämään. Osaamisen kehittämisen perustan muodostavat esimiehen oma esimerkki ja oppimiseen kannustava ilmapiiri. Esimies, joka onnistuu suuntaamaan henkilökuntansa oppimisen tukemaan organisaation tavoitteita, osaa henkilökohtaistaa yhtiön strategian sopimaan jokaisen toimenkuvaan. Oppimisen tukemisessa vaaditaan esimieheltä vahvaa henkilökunnan tuntemusta, tavoitteiden asettamista ja niiden toteutumisen seurantaa. Tutkimus osoitti esimiesten olevan pääsääntöisesti innostuneita työstään ja onnistuvan osaamisen suuntaamisen toimissa hyvin. Esimiehet voisivat kehittää toimintaansa ottamalla oman henkilökuntansa mukaan toiminnan suunnitteluun ja vastuuttamalla heitä myymälän toiminnan ja oman ammattitaitonsa jatkuvaan kehittämiseen.

The Role of networks in the internationalization process of Finnish design companies

Finnish design has attracted global attention lately and companies within the industry have potential in international markets. Because networks have been found to be extremely helpful in a firm’s international business operations and usefulness of networks is not fully exploited, their role in Finnish design companies is investigated. Accordingly, this study concentrates on understanding the role of networks in the internationalization process of Finnish design companies. This was investigated through describing the internationalization process of Finnish design companies, analyzing what kind of networks are related to internationalization process of Finnish design companies, and analyzing how networks are utilized in the internationalization process of Finnish design companies. The theoretical framework explores the Finnish design industry, internationalization process and networks. The Finnish design industry is introduced in general and the concept of design is defined to refer to the industries of textiles, furniture, clothing, and lighting equipment in the research. The theories of internationalization process, the Uppsala model and Luostarinen’s operation modes, are explored in detail. The Born Global theory, which is a contrary view to stage models, is also discussed. The concept of network is investigated, networks are classified into business and social networks, and network approach to internationalization is discussed. The research is conducted empirically and the research method is a descriptive case study. In this study, four case companies are investigated: the interior decoration unit of L-Fashion Group, Globe Hope, Klo Design, and Melaja Ltd. Data is collected by semi-structured interviews and the analysis is done in the following way: the case companies are introduced, their internationalization processes and networks are described and, finally, the comparison of the case companies is done in a form of cross-case analysis. This research showed that cooperation with social networks, such as locals or employees who have experience from the target market can be extremely helpful in the beginning of a Finnish design company’s internationalization process. This study also indicated that public organizations do not necessarily enhance the internationalization process in a design company point-of-view. In addition, the research showed that there is cooperation between small Finnish design companies whereas large design companies are not as open to cooperation with competitors.

Supplier codes of conduct: Acting responsibly in global supply chains

Nowadays the Western companies are considered responsible for the social and environmental issues in their whole supply chains. To influence the practices of their suppliers the Western companies have created suppliers codes of conduct (SCCs) which express their requirements. Suppliers’ compliance with the SCCs is checked through audits. The purpose of this thesis is to analyze SCCs as a means for Western companies to ensure socially and environmentally responsible actions in their global supply chains, and the sub-objectives are to find out 1) how well do the SCCs and their auditing work at suppliers’ production sites and 2) how can possible problems related to SCCs and their auditing be solved. This is a qualitative research carried out in the form of a case study with two case companies. In this study both primary and secondary data is used. The primary data is collected in the form of interviews of the case company representatives and three external experts. Based on a theoretical framework of previous research in the fields of corporate social responsibility and supply chain management, a model with eleven factors, which influence the success of SCC implementation and the auditing of SCC –implementation, is drafted. Also several different best-practices to help to solve and avoid possible problems related to SCC -implementation and auditing have been identified from previous research. Based on the findings of this study the theoretical model has been updated adding two new influential factors. It seems that how well the SCC and its auditing work at suppliers’ production sites depends on the joint effect of thirteen influential factors: buyer’s purchasing policy, supplier’s motivation, buyer’s commitment, the solving of agency problems, the contents of the SCC, supplier’s role and the buyer-supplier –relationship, complexity of supply chain, the limitations of the smaller buyers, cooperation through a business association or multi-stakeholder system, the role of supplier’s employees, SCC –related communication and supplier’s understanding, cheating in audits and the auditors. The possible problems related to SCCs and their auditing can be solved by adopting best-practices. Nine of the theoretical best-practices stand out from the findings of this study: 1) two-way communication and collecting feedback from suppliers, 2) the philosophy of continuous improvement, 3) long-term business relationships with the supplier, 4) informing the supplier about the advantages of SCC –compliance, 5) rewarding code-compliant suppliers, 6) building collaborative, good buyer-supplier relationships, 7) supporting and advising the supplier, 8) joining a business association or multi-stakeholder system and 9) interviewing supplier’s employees as a part of the audits.

Emotional intelligence and multicultural project leadership in Finnish-Chinese MNC context

The main goal of this thesis was to examine how the emotional intelligence skills and multicultural project leadership style of a project manager interrelate and affect the success of a project. The research methods used are literature review in theoretical part of the thesis and semi-structured interviews in empirical part of the thesis. This study is a single case study i.e. one case company was selected to be the secondary level of analysis. Within the case company, four project managers were selected as research units to form the primary level of analysis. Literature review formed the basis for the empirical research and the interview questions were derived from the literature. Findings from the interviews were mirrored against the literature review findings, based on which both conclusions and generalisations could be made. Thus, both deductive and inductive methods were utilised to get more complete picture about the research topic. In the first part of the literature review the general leadership theories and the project leadership terminology are introduced as a background for the concept of emotional intelligence and the integrated leadership model. Emotional intelligence and its interrelation to different leadership concepts are discussed during the literature review. Chinese cultural aspects affecting the way of making business, and the multicultural leadership styles of the Finnish project managers are introduced in the following part of the literature review. It was found that the most successfully used multicultural leadership styles in Finnish-Chinese context are synergistic and polycentric, and these require emotional intelligence skills. In the empirical part on this thesis the findings from the semi-structured interviews are introduced, discussed and analysed. Interviews were done in private meeting rooms, and they were recorded and transcripted to add reliability and validity. Although the sample was only four project managers, the results show that the sample is quite saturated as the responses to several questions followed the same pattern. It was found that Finnish project managers in the case company are democratic and take cultural differences into account in their project leadership. Both synergistic and polycentric leadership styles are used with Chinese team members. Emotional intelligence capabilities and the emphasis of those differ a bit depending on the interviewee. Though, the results show that EI skills and the multicultural project leadership style used in Chinese context are interrelated. The findings from the literature review and the empirical research in this thesis are similar. Though, there is need for further research as the sample was small, and this thesis is a single case study. It is recommendable to make a multi-company study with larger sample of project managers. Also multi-industry perspective is recommendable for further research.

Service paradox in a product oriented company: A service business development case

The master´s thesis had three aims; to develop a service portfolio, to support the management of services through the developed portfolio, and evaluate effects of service differentiation strategy on the future selection of services. The product oriented case company in service paradox is Hilti (Suomi) Oy, which is entering systematic service management era, supported by the late strategic change. Low return on service business investments is referred as service paradox. The project was carried out as a case study, where the primary information source was twenty-one conducted interviews. The theory part focuses on marketing logics, service strategies, and categorization of services. The empirical part contributes in solving the aim related research questions. As a result of the case study a service portfolio was created, next further steps in service management were suggested, and the effect on selection of services by service differentiation strategy was evaluated. The main goal of creating service portfolio contributes to systematic management of services, which required revising at the case company.

Suomalaisten pienten ja keskisuurten osakeyhtiöiden konkurssin ennustaminen tilinpäätöstietojen avulla

Tämän tutkimuksen tavoitteena on selvittää, voidaanko yritysten tilinpäätöstiedoista löytää sellaisia muuttujia, jotka pystyvät ennustamaan yritysten konkursseja ja onko yrityksen kannattavuudella, vakavaraisuudella ja maksuvalmiudella kaikilla yhtä suuri merkitys konkurssin ennustamisessa. Lisäksi tavoitteena on verrata mitkä eri muuttujat selittävät konkurssia eri vuosina. Tutkimus toteutetaan luomalla viidelle vuodelle ennen konkurssia ennustusmallit käyttäen logistista regressiota. Tutkimus on rajattu koskemaan suomalaisia pieniä ja keskisuuria osakeyhtiöitä. Tutkimuksessa käytetty aineisto koostuu vuonna 2012 konkurssiin menneistä yrityksistä ja näille satunnaisotannalla valituista toimivista vertailuyrityksistä. Tutkimuksesta on rajattu pois nuoret, alle neljä vuotta toimineet yritykset, koska näiden konkurssiprosessit eroavat jo pidemmän aikaa toimineiden yritysten konkursseista.

Variation between three Eremanthus (Asteraceae) species in their ability to form a seed bank

Knowledge on seed bank function is fundamental for understanding the species regeneration patterns. This investigation was carried out to compare the ability of Eremanthus elaeagnus (Mart. ex DC.) Schultz-Bip, E. glomerulatus Less., and E. incanus (Less.) Less. to form a soil seed bank. Seeds (aquenes) of each of these three species were collected, stored in the laboratory and subsequently buried in the same area where they were collected, inside nylon bags. The bags were collected monthly or bimonthly for germination tests under continuous light and also in darkness at 20 °C (E. elaeagnus e E. glomerulatus) and at 25 °C (E. incanus). After 12 months, a further series of tests compared the germination of achenes that had been buried in soil and compared with those stored in the laboratory at 15, 20, 25, 30, 35, and 40 °C. After three months of burial, the seeds of E. elaeagnus and E. glomerulatus failed to germinate, whereas the seeds of E. incanus, even after burial for 18 months, retained germination percentage of between 1% and 30%. After one year stored in laboratory, the seeds of E. glomerulatus were no longer viable and seeds of E. elaeagnus e E. incanus had a germination percentage below that of newly collected seeds. The results showed that E. elaeagnus and E. glomerulatus do not form seed banks while E. incanus may form a small and persistent soil seed bank.

Open innovation model for a large company in the ICT industry: Case Ericsson LMF

Open innovation paradigm states that the boundaries of the firm have become permeable, allowing knowledge to flow inwards and outwards to accelerate internal innovations and take unused knowledge to the external environment; respectively. The successful implementation of open innovation practices in firms like Procter & Gamble, IBM, and Xerox, among others; suggest that it is a sustainable trend which could provide basis for achieving competitive advantage. However, implementing open innovation could be a complex process which involves several domains of management; and whose term, classification, and practices have not totally been agreed upon. Thus, with many possible ways to address open innovation, the following research question was formulated: How could Ericsson LMF assess which open innovation mode to select depending on the attributes of the project at hand? The research followed the constructive research approach which has the following steps: find a practical relevant problem, obtain general understanding of the topic, innovate the solution, demonstrate the solution works, show theoretical contributions, and examine the scope of applicability of the solution. The research involved three phases of data collection and analysis: Extensive literature review of open innovation, strategy, business model, innovation, and knowledge management; direct observation of the environment of the case company through participative observation; and semi-structured interviews based of six cases involving multiple and heterogeneous open innovation initiatives. Results from the cases suggest that the selection of modes depend on multiple reasons, with a stronger influence of factors related to strategy, business models, and resources gaps. Based on these and others factors found in the literature review and observations; it was possible to construct a model that supports approaching open innovation. The model integrates perspectives from multiple domains of the literature review, observations inside the case company, and factors from the six open innovation cases. It provides steps, guidelines, and tools to approach open innovation and assess the selection of modes. Measuring the impact of open innovation could take years; thus, implementing and testing entirely the model was not possible due time limitation. Nevertheless, it was possible to validate the core elements of the model with empirical data gathered from the cases. In addition to constructing the model, this research contributed to the literature by increasing the understanding of open innovation, providing suggestions to the case company, and proposing future steps.

IT-yrityksen etabloituminen Keski-Eurooppaan

Kansainvälistyminen on yksi avaintekijä pienelle kasvua tavoittelevalle IT-yritykselle. Tämän diplomityön tavoitteena oli tehdä case -yritykselle kansainvälistymissuunnitelma ensimmäisten ulkomaan toimintojen aloittamiseksi. Tutkimuksessa selvitetään kansainvälistymismalleja, kohdemarkkinan valintamalleja sekä operaatiomuotoja pk-yrityksen näkökulmasta. Tässä työssä käsitellään malleja, joilla pk-yrityksen tulisi valita kohdemarkkinansa ja operaatiomuoto huomioiden pk-yrityksen usein rajalliset resurssit. Tutkimuksen ensimmäisessä vaiheessa tutustuttiin eri kansainvälistymismalleihin, kansainvälistymisen motiiveihin ja esteisiin. Toisessa vaiheessa käytiin läpi kohdemarkkinan valintamalleja sekä eri operaatiomuotoja. Tutkimuksen viimeisessä vaiheessa vertailtiin annettuja kohdemarkkinoita ja tehtiin case-yritykselle kansainvälistymissuunnitelma pohjautuen aiempaan tutkimukseen. Tutkimuksen tuloksena syntyneessä kansainvälistymissuunnitelmassa suositellaan potentiaalisinta kohdemarkkinaa ja operaatiomuotoa, sekä lasketaan investointikustannus etabloitumiselle.

Creating risk measurement model to project portfolio management in construction company

This thesis was carried out as a case study of a company YIT in order to clarify the sev-erest risks for the company and to build a method for project portfolio evaluation. The target organization creates new living environment by constructing residential buildings, business premises, infrastructure and entire areas worth for EUR 1.9 billion in the year 2013. Company has noted project portfolio management needs more information about the structure of project portfolio and possible influences of market shock situation. With interviews have been evaluated risks with biggest influence and most appropriate metrics to examine. The major risks for the company were evaluated by interviewing the executive staff. At the same time, the most appropriate risk metrics were considered. At the moment sales risk was estimated to have biggest impact on company‟s business. Therefore project port-folio evaluation model was created and three different scenarios for company‟s future were created in order to identify the scale of possible market shock situation. The created model is tested with public and descriptive figures of YIT in a one-year-long market shock and the impact on different metrics was evaluated. Study was conducted using con-structive research methodology. Results indicate that company has notable sales risk in certain sections of business portfolio.