IT Financial Management In a Large Industrial Company

IT Service Management plays a key role in many IT organizations today. First IT Service Management principles founded in the early 1980s but the real adaption emerged in the end 2000s. IT Financial Management is one of IT Service Management’s processes. The main purpose of this thesis was study how IT Financial Management approach can be improved in a case company. Budgeting, accounting and charging are IT Financial Management functions. These functions are researched in this thesis. Thesis materials consist of both qualitative and quantitative material. The theoretical part consists mostly of IT Service Management literature while interviews and the case company’s information systems are researched in the empirical part. Thesis also reviews different kind of the systems which supports and automates IT Financial Management functions. The biggest challenge is the cost allocation with the current ERP system in the case company. It is worth to take group based system for allocation in use before there is a holistic system in a market. The case company should also develop its IT service processes forward.

A contact-linguistic view on Finland-Swedish quotatives vara ’be’ and att ’that’

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Impersonal trust within the organization: what, how and why?

It has been shown in organizational settings that trust is a crucial factor in different kinds of outcomes, and consequently, building employee trust in the employer is a goal for all kinds of organizations. Although it is recognized that trust in organizations operates on multiple levels, at present there is no clear consensus on the concept of trust within the organization. One can have trust in particular people (i.e. interpersonal trust) or in organized systems (i.e. impersonal trust). Until recently organizational trust has been treated mainly as an interpersonal phenomenon. However, the interpersonal approach is limited. Scholars studying organizational trust have thus far focused only on specific dimensions of impersonal trust, and none have taken a comprehensive approach. The first objective in this study was to develop a construct and a scale encompassing the impersonal element of organizational trust. The second objective was to examine the effects of various HRM practices on the impersonal dimensions of organizational trust. Moreover, although the “black box” model of HRM is widely studied, there have been only a few attempts to unlock the box. Previous studies on the HRM-performance link refer to trust, and this work contributes to the literature in considering trust an impersonal issue in the relationship between HRM, trust, and performance. The third objective was thus to clarify the role of impersonal trust in the relationship between HRM and performance. The study is divided into two parts comprising the Introduction and four separate publications. Each publication addresses a distinct sub-question, whereas the Introduction discusses the overall results in the light of the individual sub-questions. The study makes two major contributions to the research on trust. Firstly, it offers a framework describing the construct of impersonal trust, which to date has not been clearly articulated in the research on organizational trust. Secondly, a comprehensive, psychometrically sound, operationally valid scale for measuring impersonal trust was developed. In addition, the study makes an empirical contribution to the research on strategic HRM. First, it shows that HRM practices affect impersonal trust and the contribution is to consider the HRM-trust link in terms of impersonal organizational trust. It is shown that each of the six HRM practices in focus is connected to impersonal trust. A further contribution lies in unlocking the black box. The study explores the impersonal element of organizational trust and its mediating role between HRM practices and performance. The result is the identification of the path by which HRM contributes to performance through the mediator of impersonal trust. It is shown that the effect on performance of HRM designed specifically to enhance employees’ impersonal trust in the organization is positive.

Luottamuksen rooli sidosryhmäyhteistyössä - Case: uuden teollisen yrityksen perustaminen

This study examines the role of trust in collaboration between stakeholders when establishing a new industrial company in Finland. Small and medium size company has been established about four years ago and nowadays it employs some tens of employees. Company is handled in this study as anonymous. Growth of the company has been fast, which means that stakeholder collaborations have been successful. The aim of the study is to examine what is the relation between trust and risk while establishing a new company. Secondly, the study examines what are the key expectations of the trust of new company. Third aim of this study is to examine how founders could build up trust among stakeholders The theoretical part of this qualitative research was done by using the theme interviews. The empirical material consisted of theme interviews of 8 persons, who are representing stakeholders of the new industrial company. The results of this study suggest that, when establishing an industrial company with aggressive growth plan, process is vulnerable and trust is having an important role. Stakeholders made some risk studies comparing to trust. Stakeholders were dependent of each others. Founder team consisted of trusted persons, which helped to have success in establishment process. Members of founder team have created all the elements of trust: honest, technical competence and attitude & behavior.

Intellectual Property Management in a Small Company

Opinnäytetyö keskittyi kriittisiin tapahtumiin, joita on tullut yhtiön tai sen edeltävän yhtiön, joka oli Mobile Screen TV – 4 ALL, tekemien aikaisempien patenttihakemusten yhteydessä . Tutkimus vertasi ja evaluoi yhtiön aikaisemmin tekemien keksintöjen suojausta. Toisaalta opinnäytetyön päämäärä oli tutkia ja selvittää monitapaus-menetelmällä yhtiön aikaisempia keksintöjä ja miten aineettoman oikeuden suojaus toteutui prosessien eri vaiheissa. Tämä päättötyötutkielma vei loppuun asti erittäin suuren patenttien ja hyödyllisyysmallien hakemusten tutkimuksen. LH Communications Oy on tehnyt monia niistä, mutta tutkimus sisälsi myös joitakin kilpailijoiden hakemuksia. Tässä tutkimuksessa oli kaksi pääkysymystä. Miten pieni yhtiö voisi suojella heidän uusia ideoitaan ja keksintöjään ja myös samalla pitää yhtiön talouden hyvällä tasolla. Tämä tutkimus käytti The Critical Incidents Technique (CIT), joka keskittyy kriittisiin tapahtumiin, selvittääkseen sopivia menetelmiä pienelle yhtiölle siitä, miten suojella uusia ajatuksia, ideoita ja keksintöjä ja samanaikaisesti olla tuottava niiden kanssa. Tutkimuksemme käsitteli kaikenlaisia tarvittavia käytäntöjä pienessä yhtiössä ja päähuomio pienessä yhtiössä tulee olla omien keksintöjen suojaamisessa. Paras suojaus on tehdä patentteja, mutta se tulee maksamaan hyvin paljon koko tapahtumasarjan aikana.

Strategisten muutosohjelmien tehostaminen IT-yrityksessä tietojohtamisen keinoilla

Tutkimusten mukaan suurin osa strategisista muutoshankkeista epäonnistuu. Tässä diplomityössä selvitettiin syitä epäonnistumisiin sekä kartoitettiin mahdollisuuksia tehostaa muutosjohtamista tietojohtamisen keinoilla. Lisäksi työssä laadittiin muutosjohtamisen kehittämissuositukset yhdelle tutkimuksen kohteena olleelle IT-yritykselle. Tietojohtamisen kannalta muutosjohtamista tarkasteltiin erityisesti seuraavista neljästä näkökulmasta: 1) muutostarpeiden havainnointi, 2) muutoksiin suhtautuminen, 3) luottamus ja hiljainen tieto sekä 4) muutosviestintä. Empiriaosuudessa koottiin muutosjohtamisen kokemuksia kolmesta Suomessa toimivasta IT-yrityksestä. Lisänäkemystä aiheeseen haettiin kolmelta kokeneelta muutosjohtamisen asiantuntijalta. Muutosten onnistumista vaarantavat lukuisat eri tekijät. Liiketoiminnan kauan jatkunut menestys saattaa rajoittaa muutostarpeiden havaitsemista ajoissa. Luutuneet käsitykset, luottamuksen puute ja päättäjien liian vallitsevat henkilökohtaiset näkemykset estävät uusien ideoiden esiin nousemista. Muutosjohtaminen vaatii päivittäisestä johtamisesta poikkeavia erityisosaamisia. Lisäksi henkilöstön muutosvastarinta ja muutosprosessin haasteellisuus nostavat epäonnistumisen todennäköisyyttä. Tämän tutkimuksen mukaan tietojohtamisen keinoilla on mahdollisuus tehostaa muutosjohtamista. Organisaation hiljaisen tiedon saattaminen yhteiseen käyttöön edistää sekä muutostarpeiden tunnistamista että muutoshankkeiden läpivientiä. Muutosjohtamiskoulutuksella ja tiedon tehokkaalla jakamisella parannetaan henkilöstön muutosvalmiuksia ja pienennetään muutosvastarintaa. Yhtenäisellä muutosprosessilla tehostetaan muutosten läpivientiä. Muutosmyönteisen organisaatiokulttuurin luomisella on keskeinen rooli muutosvalmiuksien kehittämisessä. Muutosvision luomisella sekä laadukkaalla ja muutosviestinnällä luodaan turvallisuuden tunnetta ja varmistetaan huomion pysyminen muutoksen tavoitteiden kannalta oikeissa asioissa.

Marketing-Sales Cooperation and its Relation on Direct Sales Performance: an Example of a Medium-sized Oil Company

The study touches upon marketing-sales departments’ cooperation and investigates marketing-sales cooperative model within the case company. So that research increases understanding of linkages between Marketing and Sales departments with an illustrative example of Russian medium-sized oil company (LLC Neste St. Petersburg), the subsidiary of Finnish-based Neste Oil. The empirical study is done from marketing and sales perspectives. And for sales main attention was brought to direct sales, both B2B and B2C. Research considers all five domains of cooperation, and among others, study reveals the attitude towards external (market) and internal (product) knowledge, and its mutual use by marketing and sales managers. A qualitative research method, participant observations, and in-depth interviews with upper-management made it possible to explore all facets of joint work. Moreover, research responses the changes in a model of cooperation between marketing and sales when moving from medium size to large company.

Customer loyalty in DIY retailing in Russia: Innovative approaches for improving customer retention through technology

Customer satisfaction has been widely studied concept due to its importance on business performance. Customer satisfaction should ideally lead to customer loyalty and have a positive effect on business profitability and growth. This study investigates customer satisfaction and loyalty in the Do-It-Yourself retailing in Russian  market.  “K-rauta”  retail  chain  was  chosen  as  a  focus company for this study. Goal of the study was to investigate what creates customer satisfaction in this given market and what is the role of quality, trust and satisfaction for creating customer loyalty. The role of internet in consumer purchasing process was also investigated. Furthermore, consumer preferences towards new marketing solutions such as smart phone applications were briefly examined.

Email marketing in business-to-business relationship

The objective of this study is to find out how email marketing is conducted towards existing customers in Company X. The first chapter of the study focuses on theoretical literature on direct marketing, especially on solicited and unsolicited email marketing, and on relationship marketing. The following relationship marketing areas: database marketing, customer retention, trust and commitment, loyalty, engagement and satisfaction are described and the possibilities to use email marketing within these entities of relationship marketing. The empirical second part of the study revealed that email marketing tactics to be used on relationship marketing in Company X are little used and there is potential for significant improvements in relationship marketing especially with marketing automation tools.

Bisnesenkelit aloittavien kasvuyritysten vauhdittajina – Tapaustutkimus

Bisnesenkelit, eli yksityiset riskisijoittajat ovat tärkeä ulkopuolinen rahoittajataho aloittaville kasvuyrityksille. Varallisuuden sijoittamisen ohella bisnesenkeleiden tärkeä ominaisuus on osaamisen ja verkostojen sijoittaminen yritykseen, minkä myötä yritys saa paremmat edellytykset kasvua varten. Bisnesenkeleiden kontribuutio ajoittuu tyypillisesti jälki-investointivaiheeseen, eli varallisuuden sijoittamisen jälkeen. Osallistumi-sen myötä yrittäjä-sijoittajasuhde on tärkeä taustatekijä bisnesenkelin kontribuutiossa aloittavalle kasvuyritykselle. Tutkimuksen tavoitteena oli luoda ymmärrystä bisnesenkelien kontribuutioon aloittavien kasvuyritysten jälki-investointivaiheessa. Tähän päätutkimusongelmaan vastattiin kuvailemalla lähtökohtia bisnesenkelin osallistumiselle, selvittämällä bisnesenkelin konkreettisia osallistumistapoja sekä kontribuutiosta koettua hyötyä erityisesti yrittäjien kannalta. Tutkimus toteutettiin laadullisena tutkimuksena hyödyntäen tapaustutkimusta. Tutkimusaineistona käytettiin neljälle yrittäjälle ja neljälle bisnesenkelille tehtyä teemahaastattelua. Tutkitut yritykset valittiin pääasiassa teknologiatoimialalta. Bisnesenkeleiden osallistumisen taustalla on pyrkimys viedä yritystä eteenpäin kasvua ja tulevasta exitistä saatavaa tuottoa ajatellen. Nämä tavoitteet ohjaavat bisnesenkeliä välittämään yritykseen strategista ja operatiivista osaamistaan sekä verkostojaan yrityksen tarpeista riippuen. Yrittäjän kannalta oleelliseksi havaittiin myös keskustelukumppanin merkitys. Suhteen toimivuuden edellytyksinä ovat erityisesti osapuolten välinen luottamus ja riittävä vuorovaikutus. Bisnesenkelin kontribuutio koettiin pääosin hyödyllisenä, esimerkiksi kasvua nopeuttaen.

De-escalation of commitment management strategy in IT project management methodology: case of ERP implementation project by IT consulting company

According to several surveys and observations, the percentage of successfully conducted IT projects without over-budgeting and delays in time schedule are extremely low. Many projects also are evaluated as failures in terms of delivered functionality. Nuldén (1996) compares IT projects with bad movies; after watching for 2 hours, one still tries to finish it even though one understands that it is a complete waste of time. The argument for that is 'I've already invested too much time to terminate it now'. The same happens with IT projects: sometimes the company continues wasting money on these projects for a long time, even though there are no expected benefits from these projects. Eventually these projects are terminated anyway, but until this moment, the company spends a lot. The situation described above is a consequence of “escalation of commitment” - project continuation even after a manager receives negative feedback of the project’s success probability. According to Keil and Mähring (2010), even though escalation can occur in any type of project, it is more common among complex technological projects, such as IT projects. Escalation of commitment very often results in runaway projects. In order to avoid it, managers use de-escalation strategies, which allow the resources to be used in more effective. These strategies lead to project termination or turning around, which stops the flow of wasted investments. Numbers of researches explore escalation of commitment phenomena based on experiments and business cases. Moreover, during the last decade several frameworks were proposed for de-escalation strategy. However, there is no evidence of successful implementation of the de-escalation of commitment strategy in the literature. In addition, despite that fact that IT project management methodologies are widely used in the companies, none of them cover the topic of escalation of commitment risks. At the same time, there are no researches proposing the way to implement de-escalation of commitment strategy into the existing project management methodology The research is focused on a single case of large ERP implementation project by the consulting company. Hence, the main deliverables of the study include suggestions of improvement in de-escalation methods and techniques in the project and in the company. Moreover, the way to implement these methods into existing project management methodology and into the company general policies is found.

Evaluating the Maturity of Data Management Practices in a Major Energy Provider Company

Data is the most important asset of a company in the information age. Other assets, such as technology, facilities or products can be copied or reverse-engineered, employees can be brought over, but data remains unique to every company. As data management topics are slowly moving from unknown unknowns to known unknowns, tools to evaluate and manage data properly are developed and refined. Many projects are in progress today to develop various maturity models for evaluating information and data management practices. These maturity models come in many shapes and sizes: from short and concise ones meant for a quick assessment, to complex ones that call for an expert assessment by experienced consultants. In this paper several of them, made not only by external inter-organizational groups and authors, but also developed internally at a Major Energy Provider Company (MEPC) are juxtaposed and thoroughly analyzed. Apart from analyzing the available maturity models related to Data Management, this paper also selects the one with the most merit and describes and analyzes using it to perform a maturity assessment in MEPC. The utility of maturity models is two-fold: descriptive and prescriptive. Besides recording the current state of Data Management practices maturity by performing the assessments, this maturity model is also used to chart the way forward. Thus, after the current situation is presented, analysis and recommendations on how to improve it based on the definitions of higher levels of maturity are given. Generally, the main trend observed was the widening of the Data Management field to include more business and “soft” areas (as opposed to technical ones) and the change of focus towards business value of data, while assuming that the underlying IT systems for managing data are “ideal”, that is, left to the purely technical disciplines to design and maintain. This trend is not only present in Data Management but in other technological areas as well, where more and more attention is given to innovative use of technology, while acknowledging that the strategic importance of IT as such is diminishing.

IT Investment Portfolio Management Over Joint Ventures: Case Study in a Multinational Oil & Gas Company

With information technology (IT) playing an increasing important role in driving the business, the value of IT investment is often challenged because not all of those investment decisions are made in a reasonable way or aligned with business strategies. IT investment portfolio management (PfM) is an effective way to prioritize and select the right IT projects to invest in, by taking all the project proposals into consideration as a whole, based on their business value, risks, costs, and interrelationships. There are different decision models to prioritise projects, and the Analytic Hierarchy Process (AHP) is one of the most commonly-used methods and is discussed in this master thesis. At the same time, there are IT projects on different levels for a multinational company, from global to local. For instance, many of them are probably proposed by joint ventures on local level. In the oil & gas industry, joint ventures are often formed especially in the area of the upstream (exploration & production). How to involve those projects into the IT investment PfM approach of the parent company is a challenge, because the parent company cannot make the decisions on its own. It needs to prioritize all projects in an adequate way, communicate with JVs and influence them. Also, different control levels on JVs need to be considered. This paper hence attempts to introduce a tailored approach of IT investment PfM for a multinational oil & gas company to address the issues around JVs.