Internationalization of SMEs in the Finnish Food Industry

Food industry in Finland has a long tradition and the new trends and the future of Finnish food industry is going towards functional and healthy food for the consumers in and outside Finland. Small companies operating in this industry face many difficulties in trying to compete and expand to new markets, that is why these companies are the key of innovation and they have done many breakthroughs in the food industry as well. It is therefore important to understand the internationalization process these companies follow and entry strategies they use, and moreover how they use their limited resources in order to be successful in international markets. This thesis via a case study approach deals with the issue of internationalization of SMEs and Finnish food industry. This study supports earlier theories of internationalization, primarily the Uppsala model and acknowledges internationalization as an incremental process. Meaning that psychic distance is indeed the major barrier of internationalization, and acquisition of international knowledge requires significant amount of time which influences the level of resource-commitment in foreign markets. It follows that due to the risks involved in foreign markets, the least resource-intensive modes of market entry such as direct and indirect exports are generally preferred at the start of internationalization process. As of what explains the non-conventional rapid internationalization process, we conclude that in an internationalized industry and country with established trade flows like Finland, the context in which firms operate may be less significant than the varying level of entrepreneurial skills and confidence present therein.

Stock Price Reactions on M&A, Dividends and Game Releases. Evidence from Gaming Industry.

A rapidly growing gaming industry, which specializes on PC, console, online and other games, attracts attention of investors and analysts, who try to understand what drives changes of the gaming industry companies’ stock prices. This master thesis shows the evidence that, besides long-established types of events (M&A and dividend payments), the companies’ stock price changes depend on industry-specific events. I analyzed specific for gaming industry events - game releases with respect to its subdivisions: new games-sequels, games ratings and subdivision according to a developer of a game (self-developed by publisher or outsourced). The master thesis analyzes stock prices of 55 companies from gaming industry from all over the world. The research period covers 5 year, spreading from April 2008 to April 2013. Executed with an event study method, results of the research show that all the analyzed events types have significant influence on the stock prices of the gaming industry companies. The current master thesis suggests that acquisitions in the industry affect positively bidders’ and targets’ stock prices. Mergers events cause positive stock price reactions as well. But dividends payments and game releases events influence negatively on the stock prices. Game releases’ effect is up to -2.2% of cumulative average abnormal return (CAAR) drop during the first ten days after the game releases. Having researched different kinds of events and identified the direction of their impact, the current paper can be of high value for investors, seeking profits in the gaming industry, and other interested parties.

Supplier Segmentation for Nordic Petrochemical Industry

Objective of this thesis was to map possibilities for systematic supplier management in field of chemical process industry. Through this study it was aimed to develop a tool for supplier management that could be integrated with operations in business unit. With developed tool suppliers should be able to be segmented based on their willingness and capability, and segmentation could be applied in purchasing decisions. In this thesis there was made a survey of methods that are recognized in literature to manage and allocate suppliers. This thesis recognizes segmentation as a method to group and select suppliers in procurement. Based on literature, a proposal for segmentation framework and evaluation criteria factors will be constituted. Based on theoretical proposal, in an expertise workshop a final segmentation framework was constituted, which covers segments with descriptions and evaluation part. Evaluation part includes an evaluation framework which helps to score suppliers with selected factors and leads to total grades in willingness and capability. These total grades will be the coordinates and they determine the segment where the supplier under evaluation belongs. In this thesis segments definitions, objectives, and road maps will be described.

m-Equine : IS support for the horse industry

The horse industry is in many ways still operating the same way as it did in the beginning of the 20th century. At the same time the role of the horse has changed dramatically, from a beast of burden to a top athlete, a production animal or a beloved pet. A racehorse or an equestrian sport horse is trained and taken care of like any other athlete, but unlike its human counterpart, it might end up on our plate. According to European and many other countries’ laws, a horse is a production animal. The medical data of a horse should be known if it is to be slaughtered, to ensure that the meat is safe for human consumption. Today this vital medical information should be noted in the horse’s passport, but this paperbased system is not reliable. If a horse gets sold, depending on the country’s laws, the medical records might not be transferred to the new owner, the horse’s passport might get lost etc. Thus the system is not fool proof. It is not only the horse owners who have to struggle with paperwork; veterinarians as well as other officials often use much time on redundant paperwork. The main research question of this thesis is if IS could be used to help the different stakeholders within the horse industry? Veterinarians in particular who travel to stables to treat horses cannot always take with them their computers, since the somewhat unsanitary environment is not suitable for a sensitive technological device. Currently there is no common medical database developed for horses, although such a database with a support system could help with many problems. These include vaccination and disease control, food-safety, as well as export and import problems. The main stakeholders within the horse industry, including equine veterinarians and horse owners, were studied to find out their daily routines and needs for a possible support system. The research showed that there are different aspects within the horse industry where IS could be used to support the stakeholders daily routines. Thus a support system including web and mobile accessibility for the main stakeholders is under development. Since veterinarians will be the main users of this support system, it is very important to make sure that they find it useful and beneficial in their daily work. To ensure a desired result, the research and development of the system has been done iteratively with the stakeholders following the Action Design Research methodology.

Effects of obtained benefits on willingness to pay and word-of-mouth behavior in newspaper industry

The purpose of this master’s thesis was to investigate the effects which benefits obtained from reading a newspaper and using its website have on behavioral outcomes such as word-of-mouth behavior and willingness to pay. Several other antecedents of willingness to pay have been used as the control variables. However, their interrelations haven’t been hypothesized. The empirical part focused on a case company – Finnish regional newspaper. Empirical research has been conducted using a quantitative method and data was collected via online survey placed on newspaper’s website during 2010. 1001 responses have been collected. The results showed that benefits obtained both from traditional printed newspaper and from online one have positive effects on the word-of-mouth about this newspaper and its website. However, it has been revealed that benefits obtained from reading the newspaper don’t have effect on the willingness to pay for this newspaper. Additionally, only interpersonal and convenience benefits obtained from using the newspaper’s website influence on the willingness to pay for it. Finally, willingness to pay for the bundle of printed newspaper and its website access is affected positively only by the information/learning benefits obtained from reading the newspaper and by the interpersonal benefits obtained from using the newspaper’s website.

Risk Assessment of a Supplier in the Pharmaceutical Industry

The topic of this Master’s Thesis is risk assessment in the supply chain, and the work was done for a company operating in the pharmaceutical industry. The unique features of the industry bring additional challenges to risk management, due to high regulatory, docu-mentation and traceability requirements. The objective of the thesis was to generate a template for assessing the risks in the supply chain of current and potential suppliers of the case company. Risks pertaining to the case setting were sought mainly from in-house expertise of this specific product and supply chain as well as academic research papers and theory on risk management. A questionnaire was set up to assess the found risks on impact, occurrence and possibility of detection. Through this classification of the severity of the risks, the supplier assessment template was formed. A questionnaire template, comprised of the top 10 risks affecting the flow of information and materials in this setting, was formulated to serve as a generic tool for assessing risks in the supply chain of a pharmaceutical company. The template was tested on another supplier for usability and accuracy of found risks, and it demonstrated functioning in a differing supply chain and product setting.

Weed control in young coffee plantations through post emergence herbicide application onto total area

This study was carried out to investigate the efficiency of several herbicides under field conditions, by post-emergence application onto the entire area, their effect on the control of weeds in young coffee plantations and commercial coffee and bean intercropping system, as well as on both crops. Seedlings of Coffea arabica cv. Red Catuaí with four to six leaf pairs were transplanted to the field and treated according to conventional agronomic practices. A bean and coffee intercropping system was established by sowing three lines of beans in the coffee inter-rows. At the time the herbicides were sprayed, the coffee plants had six to ten leaf pairs; the bean plants, three leaflets; and the weeds were at an early development stage. Fluazifop-p-butyl and clethodim were selective for coffee plants and controlled only Brachiaria plantaginea and Digitaria horizontalis efficiently. Broad-leaved weeds (Amaranthus retroflexus, Bidens pilosa, Coronopus didymus, Emilia sonchifolia, Galinsoga parviflora, Ipomoea grandifolia, Lepidium virginicum, and Raphanus raphanistrum) were controlled with high efficiency by sole applications of fomesafen, flazasulfuron, and oxyfluorfen, except B. pilosa, C. didymus, and R. raphanistrum for oxyfluorfen. Sequential applications in seven-day intervals of fomesafen + fluazifop-p-butyl, or clethodim, and two commercial mixtures of fomesafen + fluazifop-p-butyl simultaneously controlled both types of weed. Cyperus rotundus was only controlled by flazasulfuron. Except for fluazifop-p-butyl and clethodim, all herbicide treatments caused only slight injuries on younger coffee leaves. However, further plant growth was not impaired and coffee plant height and stem diameter were therefore similar in the treatments, as evaluated four months later. Fomesafen, fluazifop-p-butyl, and clethodim, at sole or sequential application, and the commercial mixtures of fomesafen + fluazifop-p-butyl were also highly selective for bean crop; thus at doses recommended for bean crop, these herbicides may be applied to control weeds in coffee and bean intercropping systems by spraying the entire area.

Effects of weed species competition on the growth of young coffee plants

The effects of competition of seven weed species on the growth of coffee plants were evaluated under greenhouse conditions. Thirty days after coffee seedling transplantation into 12 L pots with soil level area of 6.5 dm², weeds were transplanted into or sown in those pots, at densities of 0, 1, 2, 3, 4 and 5 plants per pot. Competition or weedy periods from weed transplantation or emergence to plant harvesting, at weed pre-flowering stage, were: 77 days - Bidens pilosa, 98 days - Brachiaria decumbens, 180 days - Commelina diffusa, 82 days - Leonurus sibiricus, 68 days - Nicandra physaloides, 148 days - Richardia brasiliensis and 133 days - Sida rhombifolia. Coffee plant height, stem diameter, leaf number and shoot dry matter were determined. Effects of competition by N. physaloides and S. rhombifolia against coffee plants were among the lowest, since only a slight decrease in all the characteristics evaluated in coffee plants was observed. The other weed species caused severe decrease in growth, mainly with increasing weed plant densities. Competition degree was found to depend on weed species and density.

Growth and nutrient concentration in coffee root system under weed species competition

The effects of competition of six weed species on growth, nutrient concentration and nutrient content of coffee plant root system under greenhouse conditions were evaluated. Thirty days after coffee seedling transplantation into 12 L pots with soil level area of 6.5 dm². Weeds were transplanted or sowed in these pots, at densities of 0, 1, 2, 3, 4 and 5 plants per pot. The duration of competition (or weedy periods) from weed transplantation or emergence until plant harvesting, at the weed preflowering stage, were (in days): 77 (Bidens pilosa), 180 (Commelina diffusa), 82 (Leonurus sibiricus), 68 (Nicandra physaloides), 148 (Richardia brasiliensis) and 133 (Sida rhombifolia). Dry matter of coffee plants was linearly reduced with increasing B. pilosa and S. rhombifolia density, with pronounced effect of B. pilosa. C. diffusa was the only weed species whose increasing density in the pots did not diminish crop root dry matter. L. sibiricus, N. physaloides and R. brasiliensis reduced root dry matter of coffee plants by 75, 52 and 47%, respectively, as compared to the weed-free treatment, regardless of weed density. Under competition, even though weed species showed lower macronutrient concentration in the roots (except for P), they accumulated 4.2 (N), 12.3 (P), 4.3 (K), 5.5 (Ca), 7.6 (Mg) and 4.4 (S) times more nutrients in the roots than the coffee plants. Crop and weed nutrient concentration, as well as competition degrees greatly varied depending on both weed species and densities.

Seed bank from soil of coffee plantations associated with grevillea trees

This study aimed to study the composition and dynamics of seed bank from soil of coffee plantations associated with grevilea trees in the experimental fields of the Southwest Bahia State University, on Vitória da Conquista campus. The experiments were carried out from September 2006 to May 2007. The coffee trees (Coffea arabica) were sown at three x one m spacing, associated with grevillea trees (Grevillea robusta) and maintained at densities of 277, 139, 123, 69, 62 and 31 plants ha-1, under direct sunlight. One hundred grams of soil were taken from each treatment with four repetitions and later identified and counted with a 10x magnifying glass. To determine seedling emergence, four soil samples of 1000 g were collected from each experimental field and transported to the greenhouse. Seedling emergence was observed by counts after 15, 30 and 45 days. The experimental design was randomized blocks of seven treatments (soil from different tree densities) and four replicates; the experimental unit consisted of a plastic tray (0, 30 x 0.22 x 0.06 m) containing 1.000 g of soil. The variables utilized to characterize the bank and its dynamics were: relative frequency, relative density, relative abundance, importance index and species diversity (Shannon-Weaver index).Increased number of monocotyledon seeds and sprouts were verified in the treatments maintained under full sunlight.

Optimizing the width of strip weeding in arabica coffee in relation to crop age

The aim of this study was to determine the weed strip control (WSC) required for adequate coffee growth after transplanting. A non-irrigated, field-planted (spaced 3.80 x 0.70 m) crop was used. The experimental design was a randomized block, with four replicates. The treatments were arranged in a 9 x 18 split-plot design to test the WSC of 0, 15, 30, 45, 60, 90, 120, 150, and 190 cm, which involved continuously hand-weeding at each side of the coffee row, and 18 coffee growth measurements. Multiple regression analyses were carried out relating to growth-variables as a function of both WSC and growth-evaluation times. Brachiaria decumbens was the main weed accomplishing 88.5% of the total weed dry mass. The minimum width of the WSC increases as the crop ages after transplanting. Assuming reductions of 2% and 5% in the maximum coffee growth, the recommended WSC was 75 and 52 cm at 4 months after transplanting (MAT), 104 and 85 cm at 6 MAT, 123 and 105 cm at 9 MAT, 134 and 116 cm at 12 MAT, 142 and 124 cm at 15 MAT, and 148 and 131 cm at 18 MAT, respectively. It was concluded that integrated weed management in young coffee crops must focus on the weed control only in a minimum range along coffee rows, which increases with coffee plant age, keeping natural vegetation in the inter-rows.

Sourgrass densities affecting the initial growth and macronutrient content of coffee plants

The objective of this work was to evaluate the coexistence effects of coffee (Coffea arabica) with densities of sourgrass (Digitaria insularis) on crop macronutrient content and plant growth. The experiment was conducted in plots where one coffee plant was maintained in coexistence with 0 (weed-free check), 1, 2, 4, 8, and 16 sourgrass plants, using a completely randomized design with three replicates. Reduction of coffee growth and macronutrient content, except P that increased, started when the coexistence occurred with sourgrass plants in a density of 1 plant per plot. In general, macronutrient content was reduced by 18-50%, while growth characteristics were reduced by 9-41%, when coffee plants coexisted with 16 plants of sourgrass. Thus, sourgrass competition for nutrients was a strong factor limiting coffee plant growth.

Value co-creation in gaming the industry: A qualitative research on virtual discussion forums

This study discusses the procedures of value co-creation that persist in gaming industry. The purpose of this study was to identify the procedures that persist in current video gaming industry which answers the main research problem how value is co-created in video gaming industry followed by three sub questions: (i) What is value co-creation in gaming industry? (ii) Who participates in value co-creation in gaming industry? (iii) What are the procedures that are involved in value co-creation in gaming industry? The theoretical background of the study consists of literature relating to the theory of marketing i.e., notion of value, conventional understanding of value creation, value chain, co-creation approach, co-production approach. The research adopted qualitative research approach. As a platform of relationship researcher used web 2.0 tool interface. Data were collected from the social networks and netnography method was applied for analyzing them. Findings show that customer and company both co-create optimum level of value while they interact with each other and within the customers as well. However mostly the C2C interaction, discussions and dialogues threads that emerged around the main discussion facilitated to co-create value. In this manner, companies require exploiting and further motivating, developing and supporting the interactions between customers participating in value creation. Hierarchy of value co-creation processes is the result derived from the identified challenges of value co-creation approach and discussion forums data analysis. Overall three general sets and seven topics were found that explored the phenomenon of customer to customer (C2C) and business to customer (B2C) interaction/debating for value co-creation through user generated contents. These topics describe how gamer contributes and interacts in co-creating value along with companies. A methodical quest in current research literature acknowledged numerous evolving flows of value in this study. These are general management perspective, new product development and innovation, virtual customer environment, service science and service dominant logic. Overall the topics deliver various realistic and conceptual implications for using and handling gamers in social networks for augmenting customers’ value co-creation process.

Infestation of weed species in monocrop coffee or intercropped with banana, under agroecological system

We aimed with this study to compare weed infestation in coffee under two different cropping managements: conventional coffee grown alone, or intercropped with banana plantation in a year-round basis (late spring, late summer, late fall and late winter). The experiment was installed in 2009 under field conditions at the Escola Municipal Rural Benedita Figueiró de Oliveira, in the city of Ivinhema in the state of Mato Grosso do Sul, Brazil. Assessments of weed occurrence were made three years after employment, on both cropping systems, and density, frequency, dominance and the importance value for each plant species in each system and season were quantified. Plant diversity within each system was estimated by Simpson and Shannon-Weiner indexes. Similarity between cropping systems were also assessed by the binary asymmetric similarity coefficient of Jaccard. Absolute infestation and spontaneous species differed between the two cropping systems in all seasons. Overall species diversity is higher in the monocrop compared with the intercrop, and it is associated in this study with the higher incidence of troublesome species. Areas were similar in terms of weed composition only in the Fall. Shading provided by the banana trees shows to be an efficient culture management aiming to suppress weeds in agro-ecological planting systems.