Towards Inter-organizational Working Capital Management

Working capital is an investment which is tied up into the inventories and accounts receivable and which is released with accounts payable. Due to the current business landscape with tightened financial conditions and finance markets, organizations emphasize efficient working capital management. With efficient working capital management, a company can reduce the need of finance, free up cash, increase profitability, improve liquidity, increase the efficiency of operations, and decrease (financing) costs. From the perspective of an individual company, efficient working capital management means decreasing inventory levels by shortening the cycle time of inventories, decreasing accounts receivable by shortening the trade credit terms and effective collection procedures, and increasing the level of accounts payable by paying the suppliers later. From an inter-organizational perspective, however, working capital should not be sub-optimized by a single company but holistic view to working capital management through the supply chain should be adopted to create value and improve performance together. The purpose of this research is to take academic research as well as practical management towards inter-organizational working capital management. The thesis discusses the benefits as well as mechanisms of working capital management in the inter-organizational context and has two main objectives: (1) to examine the effect of inter-organizational working capital management on performance in the value chain context and (2) to develop models of working capital management for internal as well as inter-organizational value chains. The results of the archival research conducted in the value chain of the pulp and paper industry and the value chain of the automotive industry indicate that companies can increase relative profitability by managing working capital comprehensively by taking into account all three components, and holistically though the value chain. Companies in the value chain benefit from different strategies in working capital management depending on the position of the company in the value chain. This can be taken into account in inter-organizational working capital management. The effects of inter-organizational working capital management actions on the financing costs of working capital were studied via simulations. Simulations also show that the value chain and individual companies benefit from an inter-organizational view to working capital management. Inter-organizational working capital management actions include for example: shortening the cycle time of inventories, reducing product costs, shifting inventories, shortening payment terms, and considering the cost of capital. The thesis also provides solutions for the practical requirements for tools to control working capital. The design science part of the research introduces the adjusted cash conversion cycle (ACCC) model for internal value chains, as well as models for working capital management in the inter-organizational value chain context: the working capital management model (WCMM) and the financial cycle time model (FCTM) designed in corporation and product levels respectively. This research contributes to literature on working capital management and interorganizational accounting. The research gives a holistic, inter-organizational view to the management of working capital. It advances the knowledge in working capital management on operational level, increases knowledge in the recently risen theme of supply chainoriented, collaborative working capital management, combines management accounting research with supply chain management research, and contributes to the demand of practical inter-organizational accounting methods. In addition, the research has strong practical focus as new managerial methods are introduced.

The sources of complementary competitive advantages for systems’ manufacturers in the aircraft modernization market

Being a top of high technology industries, the aerospace represents one of the most complex fields of study. While the competitiveness of aircraft systems’ manufacturers attracts a significant number of researchers, some of the issues remain to be a blank spot. One of those is the after-sale modernization. The master thesis investigates how this concept is related to the theory of competitive advantages. Finding the routes in the framework of complex technological systems’ lifecycle, the key drivers of the aircraft modernization market are revealed. The competitive positioning of players is defined through multiple case studies in a form of several in-depth interviews. The key result of the research is the conclusion that modernization should be considered as an inherent component of strategy of any aircraft systems’ manufacturer, while the master thesis aims to support managerial decision making.

”Tuntuu, et nää on vielä niin lapsen kengissä tämmöset HR:n luvut…”: Työhyvinvoinnin panostusten ja kustannusten Business Intelligence

Työhyvinvointi saa suomalaisessa työelämässä paljon huomiota juuri tällä hetkellä ja se on tunnis-tettu yrityksen kannalta hyödylliseksi alueeksi, johon kannattaa panostaa. Matalat työhyvinvointiin liittyvät kustannukset, organisaation parempi kilpailukyky ja maine sekä korkea henkilöstön tuotta-vuus ovat esimerkkejä työhyvinvoinnin kautta saavutettavista hyödyistä. Yritys voi parantaa hen-kilöstön työhyvinvointia panostamalla siihen ja tämän pitäisi näkyä suoraan myös työhyvinvointiin liittyvissä tunnusluvuissa, kuten sairauspoissaolo-, työkyvyttömyyseläke- ja vaihtuvuuskustannuk-sissa. Yritykset voivat hyödyntää työhyvinvoinnin panostusten ja kustannusten tunnuslukuja, jos niitä hallitaan onnistuneesti. Tällöin pitää tietää, mistä kustannukset koostuvat ja ymmärtää, millä pa-nostuksilla niihin voidaan vaikuttaa. Business Intelligence on termi, jolla tarkoitetaan kaikkea sel-laista organisaation tiedon hallintaa, jota tarvitaan liiketoiminnan johtamisessa. Sen tavoitteena on tukea organisaatiossa tapahtuvaa päätöksentekoa. Business Intelligence voidaan kuvata prosessina, jossa organisaatio kerää, yhdistelee ja analysoi tietoa eri tietolähteistä. Analysoinnin jälkeen yrityk-sellä on käytössään uutta tietämystä, jota voidaan hyödyntää päätöksenteossa. Toimivien Business Intelligence ratkaisujen ansiosta yrityksen päätöksenteon varmuus ja vaikuttavuus kasvaa. Tämän tutkimuksen tarkoituksena on selvittää, millainen on tehokas työhyvinvoinnin panostusten ja kustannusten hallintaan liittyvä Business Intelligence prosessi. Tehokas prosessi auttaa paranta-maan työhyvinvointiin tehtävien panostusten oikeellisuutta ja nostaa organisaation ymmärrystä omasta toiminnastaan. Tutkimusongelmaan on haettu vastauksia laadullisten tutkimusmenetelmien avulla haastattelemalla työhyvinvoinnin panostusten ja kustannusten tunnuslukuja seuraavia yrityk-siä. Tutkimuksen tulokset on analysoitu käyttämällä hyväksi kirjallisuuteen perustuvaa teema-ana-lyysia, jossa työhyvinvointiin ja Business Intelligenceen liittyvää teoriaa verrataan haastatteluista saatuihin vastauksiin. Tutkimuksen johtopäätöksenä tehokas työhyvinvoinnin panostusten ja kustannusten Business Intelligence prosessi voidaan kuvata perinteisten BI:n tasojen kautta. Työhyvinvoinnin panostusten ja kustannusten tunnuslukujen kerääminen onnistuu eri osapuolten välisen yhteistyön avulla. Tun-nusluvuista voi luoda merkityksellistä tietämystä, kun niistä saa tarkkaa tietoa ja niiden rinnalle tuodaan laadullista aineistoa työntekijöiden kokemuksista. Prosessia tukee se, jos teknologian kautta päätöksentekijä pystyy hankkimaan tarvittavat tiedot itse. Tulevaisuudessa olisi tärkeää, että saa-daan enemmän tietoa eri toimenpiteiden vaikuttavuudesta tunnuslukuihin, jotta päätöksiä voidaan tehdä luotettavamman tietämyksen varassa.

Assessment of purchasing maturity in spare parts supply chain

To describe the change of purchasing moving from administrative to strategic function academics have put forward maturity models which help practitioners to compare their purchasing activities to industry top performers and best practices. However, none of the models aim to distinguish the purchasing maturity from the after-sales point of view, even though after-sales activities are acknowledged as a relevant source of revenue, profit and competitive advantage in most manufacturing firms. The maturity of purchasing and supply management practices have a large impact to the overall performance of the spare parts supply chain and ultimately to the value creation and relationship building for the end customer. The research was done as a case study for a European after-sales organization which is part of a globally operating industrial firm specialized in heavy machinery. The study mapped the current state of the purchasing practices in the case organization and also distinguished the relevant areas for future development. The study was based on the purchasing maturity model developed by Schiele (2007) and investigated also how applicable is the maturity model in the spare parts supply chain context. Data for the assessment was gathered using five expert interviews inside the case organization and other parties involved in the company’s spare parts supply chain. Inventory management dimension was added to the original maturity model in order to better capture the important areas in a spare parts supply chain. The added five questions were deduced from the spare parts management literature and verified as relevant areas by the case organization’s personnel. Results indicate that largest need for development in the case organization are: better collaboration between sourcing and operative procurement functions, use of installed base information in the spare parts management, training plan development for new buyers, assessment of aligned KPI’s between the supply chain parties and better defining the role of after-sales sourcing. The purchasing maturity model used in this research worked well in H&R Leading, Controlling and Inventory Management dimensions. The assessment was more difficult to conduct in the Supplier related processes, Process integration and Organizational structure –dimensions, mainly because the assessment in these sections would for some parts require more company-wide assessment. Results indicate also that the purchasing maturity model developed by Schiele (2007) captures the relevant areas in the spare parts supply as well.

Price spike forecasting in a competitive day-ahead energy market

Electricity price forecasting has become an important area of research in the aftermath of the worldwide deregulation of the power industry that launched competitive electricity markets now embracing all market participants including generation and retail companies, transmission network providers, and market managers. Based on the needs of the market, a variety of approaches forecasting day-ahead electricity prices have been proposed over the last decades. However, most of the existing approaches are reasonably effective for normal range prices but disregard price spike events, which are caused by a number of complex factors and occur during periods of market stress. In the early research, price spikes were truncated before application of the forecasting model to reduce the influence of such observations on the estimation of the model parameters; otherwise, a very large forecast error would be generated on price spike occasions. Electricity price spikes, however, are significant for energy market participants to stay competitive in a market. Accurate price spike forecasting is important for generation companies to strategically bid into the market and to optimally manage their assets; for retailer companies, since they cannot pass the spikes onto final customers, and finally, for market managers to provide better management and planning for the energy market. This doctoral thesis aims at deriving a methodology able to accurately predict not only the day-ahead electricity prices within the normal range but also the price spikes. The Finnish day-ahead energy market of Nord Pool Spot is selected as the case market, and its structure is studied in detail. It is almost universally agreed in the forecasting literature that no single method is best in every situation. Since the real-world problems are often complex in nature, no single model is able to capture different patterns equally well. Therefore, a hybrid methodology that enhances the modeling capabilities appears to be a possibly productive strategy for practical use when electricity prices are predicted. The price forecasting methodology is proposed through a hybrid model applied to the price forecasting in the Finnish day-ahead energy market. The iterative search procedure employed within the methodology is developed to tune the model parameters and select the optimal input set of the explanatory variables. The numerical studies show that the proposed methodology has more accurate behavior than all other examined methods most recently applied to case studies of energy markets in different countries. The obtained results can be considered as providing extensive and useful information for participants of the day-ahead energy market, who have limited and uncertain information for price prediction to set up an optimal short-term operation portfolio. Although the focus of this work is primarily on the Finnish price area of Nord Pool Spot, given the result of this work, it is very likely that the same methodology will give good results when forecasting the prices on energy markets of other countries.

Building organizational creativity – a multitheory and multilevel approach for understanding and stimulating organizational creativity

Organizational creativity is increasingly important for organizations aiming to survive and thrive in complex and unexpectedly changing environments. It is precondition of innovation and a driver of an organization’s performance success. Whereas innovation research increasingly promotes high-involvement and participatory innovation, the models of organizational creativity are still mainly based on an individual-creativity view. Likewise, the definitions of organizational creativity and innovation are somewhat equal, and they are used as interchangeable constructs, while on the other hand they are seen as different constructs. Creativity is seen as generation of novel and useful ideas, whereas innovation is seen as the implementation of these ideas. The research streams of innovation and organizational creativity seem to be advancing somewhat separately, although together they could provide many synergy advantages. Thereby, this study addresses three main research gaps. First, as the knowledge and knowing is being increasingly expertized and distributed in organizations, the conceptualization of organizational creativity needs to face that perspective, rather than relying on the individual-creativity view. Thus, the conceptualization of organizational creativity needs clarification, especially as an organizational-level phenomenon (i.e., creativity by an organization). Second, approaches to consciously build organizational creativity to increase the capacity of an organization to demonstrate novelty in its knowledgeable actions are rare. The current creativity techniques are mainly based on individual-creativity views, and they mainly focus on the occasional problem-solving cases among a limited number of individuals, whereas, the development of collective creativity and creativity by the organization lacks approaches. Third, in terms of organizational creativity as a collective phenomenon, the engagement, contributions, and participation of organizational members into activities of common meaning creation are more important than the individualcreativity skills. Therefore, the development approaches to foster creativity as social, emerging, embodied, and collective creativity are needed to complement the current creativity techniques. To address these gaps, the study takes a multiparadigm perspective to face the following three objectives. The first objective of this study is to clarify and extend the conceptualization of organizational creativity. The second is to study the development of organizational creativity. The third is to explore how an improvisational theater based approach fosters organizational creativity. The study consists of two parts comprising the introductory part (part I) and six publications (part II). Each publication addresses the research questions of the thesis through detailed subquestions. The study makes three main contributions to the research of organizational creativity. First, it contributes toward the conceptualization of organizational creativity by extending the current view of organizational creativity. This study views organizational creativity as a multilevel construct constituting both of individual and collective (group and organizational) creativity. In contrast to current views of organizational creativity, this study bases on organizational (collective) knowledge that is based on and demonstrated through the knowledgeable actions of an organization as a whole. The study defines organizational creativity as an overall ability of an organization to demonstrate novelty in its knowledgeable actions (through what it does and how it does what it does).Second, this study contributes toward the development of organizational creativity as multi-level phenomena, introducing developmental approaches that face two or more of these levels simultaneously. More specifically, the study presents the cross-level approaches to building organizational creativity, by using an approach based in improvisational theater and considering assessment of organizational renewal capability. Third, the study contributes on development of organizational creativity using an improvisational theater based approach as twofold meaning. First, it fosters individual and collective creativity simultaneously and builds space for creativity to occur. Second, it models collective and distributed creativity processes, thereby, contributing to the conceptualization of organizational creativity.

Tiedonhallinta verkostoituneessa logistiikkaketjussa – Case: VR-Yhtymä

Tiedon tehokas jakaminen ja tiedon hallinta näyttelee tärkeätä roolia yritysten kannattavuuden ja tehokkuuden kehittämisessä. Laadukkaan tiedon tehokas jakaminen ja omaksuminen korostuvat verkostoituneessa logistiikkaketjussa ja kolmannen osapuolen logistiikkaa harjoittavissa yrityksissä. Tehokkaalla tiedon jakamisella, tietämyksen hallinnalla sekä tietojohtamisen keinoilla voidaan luoda tehokkaita ja kilpailukykyisiä businessprosesseja. Työn tuloksena saavutettiin kuvaus tietojohtamisen eri näkökulmista sekä tietojohtamisesta tiedon hallinnan työkaluna. Työn teoreettisessa osuudessa käsitellään tietoa ja sen eri tasoja sekä perspektiivejä tietojohtamisessa käytettyinä syötteinä, sen prosesseina sekä lopputuloksena, joita tietojohtamisen käsitteen alla olevilla työkaluilla ja käytännöillä toteutetaan. Aiempi tutkimus osoittaa, että tietojohtaminen on yksi johtamisen malli, jonka avulla voidaan saavuttaa tehokkaan yritystoiminnan edellytykset sekä asetetut strategiset tavoit- teet. Kirjallisuuden perusteella pyrittiin kartoittamaan verkostoituneen logistiikkaketjun tiedonhallinnan esteet ja sitä rajoittavat tekijät. Työn empiirinen osuus toteutettiin kvalitatiivisena kysely- sekä haastattelututkimuksena, jonka avulla kerättiin työssä käytetty tutkimusaineisto. Työn empiirisessä osuudessa kartoitettiin kohdeorganisaation tiedonhallintaprosesseja sen kuljetustuotannon toiminnoissa, sekä niiden toteuttamista vaikeuttavia ja hidastavia tekijöitä. Empiirisen aineiston perusteella yritykselle ehdotettiin organisaation muokkaamista enemmän tiedon jakamista tu- kevaan suuntaan, joka voidaan teoriatiedon perusteella toteuttaa esimerkiksi luomalla fyysisiä ja henkisiä tiloja tietoprosessien toteuttamiselle.

Business intelligence viewpoint on managerial decision-making : Ill-structured problems and decision support systems

Vaikka liiketoimintatiedon hallintaa sekä johdon päätöksentekoa on tutkittu laajasti, näiden kahden käsitteen yhteisvaikutuksesta on olemassa hyvin rajallinen määrä tutkimustietoa. Tulevaisuudessa aiheen tärkeys korostuu, sillä olemassa olevan datan määrä kasvaa jatkuvasti. Yritykset tarvitsevat jatkossa yhä enemmän kyvykkyyksiä sekä resursseja, jotta sekä strukturoitua että strukturoimatonta tietoa voidaan hyödyntää lähteestä riippumatta. Nykyiset Business Intelligence -ratkaisut mahdollistavat tehokkaan liiketoimintatiedon hallinnan osana johdon päätöksentekoa. Aiemman kirjallisuuden pohjalta, tutkimuksen empiirinen osuus tunnistaa liiketoimintatiedon hyödyntämiseen liittyviä tekijöitä, jotka joko tukevat tai rajoittavat johdon päätöksentekoprosessia. Tutkimuksen teoreettinen osuus johdattaa lukijan tutkimusaiheeseen kirjallisuuskatsauksen avulla. Keskeisimmät tutkimukseen liittyvät käsitteet, kuten Business Intelligence ja johdon päätöksenteko, esitetään relevantin kirjallisuuden avulla – tämän lisäksi myös dataan liittyvät käsitteet analysoidaan tarkasti. Tutkimuksen empiirinen osuus rakentuu tutkimusteorian pohjalta. Tutkimuksen empiirisessä osuudessa paneudutaan tutkimusteemoihin käytännön esimerkein: kolmen tapaustutkimuksen avulla tutkitaan sekä kuvataan toisistaan irrallisia tapauksia. Jokainen tapaus kuvataan sekä analysoidaan teoriaan perustuvien väitteiden avulla – nämä väitteet ovat perusedellytyksiä menestyksekkäälle liiketoimintatiedon hyödyntämiseen perustuvalle päätöksenteolle. Tapaustutkimusten avulla alkuperäistä tutkimusongelmaa voidaan analysoida tarkasti huomioiden jo olemassa oleva tutkimustieto. Analyysin tulosten avulla myös yksittäisiä rajoitteita sekä mahdollistavia tekijöitä voidaan analysoida. Tulokset osoittavat, että rajoitteilla on vahvasti negatiivinen vaikutus päätöksentekoprosessin onnistumiseen. Toisaalta yritysjohto on tietoinen liiketoimintatiedon hallintaan liittyvistä positiivisista seurauksista, vaikka kaikkia mahdollisuuksia ei olisikaan hyödynnetty. Tutkimuksen merkittävin tulos esittelee viitekehyksen, jonka puitteissa johdon päätöksentekoprosesseja voidaan arvioida sekä analysoida. Despite the fact that the literature on Business Intelligence and managerial decision-making is extensive, relatively little effort has been made to research the relationship between them. This particular field of study has become important since the amount of data in the world is growing every second. Companies require capabilities and resources in order to utilize structured data and unstructured data from internal and external data sources. However, the present Business Intelligence technologies enable managers to utilize data effectively in decision-making. Based on the prior literature, the empirical part of the thesis identifies the enablers and constraints in computer-aided managerial decision-making process. In this thesis, the theoretical part provides a preliminary understanding about the research area through a literature review. The key concepts such as Business Intelligence and managerial decision-making are explored by reviewing the relevant literature. Additionally, different data sources as well as data forms are analyzed in further detail. All key concepts are taken into account when the empirical part is carried out. The empirical part obtains an understanding of the real world situation when it comes to the themes that were covered in the theoretical part. Three selected case companies are analyzed through those statements, which are considered as critical prerequisites for successful computer-aided managerial decision-making. The case study analysis, which is a part of the empirical part, enables the researcher to examine the relationship between Business Intelligence and managerial decision-making. Based on the findings of the case study analysis, the researcher identifies the enablers and constraints through the case study interviews. The findings indicate that the constraints have a highly negative influence on the decision-making process. In addition, the managers are aware of the positive implications that Business Intelligence has for decision-making, but all possibilities are not yet utilized. As a main result of this study, a data-driven framework for managerial decision-making is introduced. This framework can be used when the managerial decision-making processes are evaluated and analyzed.

Valmentava johtaminen ja sen kehittäminen koulutusorganisaatiossa

Opinnäytetyö toteutettiin Pohjois-Karjalan koulutuskuntayhtymälle. Koulutusorganisaatiossa tapahtuu lähitulevaisuudessa rakenteellisia muutoksia. Organisaation pääprosessi (opetusprosessi) muuttuu ryhmäopetuksesta yksilöä valmentavaan suuntaan. Tämä aiheuttaa myös johtamisen ja organisaatiokulttuurin muutoksen, vanhat toimintatavat eivät enää riitä. Organisaation rajapinnoilla toimivien esimiesten asema on muutoksessa avainasemassa. Jotta toiminta voi jatkua ja kilpailuetu pystytään säilyttämään, rakennetaan valmentavan johtamisen ja osallistavan organisaatiokulttuurin avulla tukiprosessit pääprosessin ympärille. Tutkimus toteutettiin kvalitatiivisena tapaustutkimuksena (case). Tutkimuksessa keskityttiin yhden Pohjois-Karjalaisen ammattiopiston nykytilan johtamismallin vertaamista kehitettävään uuteen toimintamalliin. Tutkimusaineisto kerättiin puolistrukturoidulla teemahaastattelulla. Tutkimuksessa haastateltiin yhdeksää esimiestä (koulutusjohtajia ja lähiesimiehiä). Tutkimustulosten mukaan valmentavaa johtamista ja organisaatiokulttuurin muutosta ei ymmärretä selkeästi. Koulutusjohtajilla on selkeämpi käsitys muutoksesta kuin lähiesimiehillä. Lähiesimiehillä esiintyy selkeää muutosvastarintaa. Selkeimmät haasteet muutoksessa liittyvät resurssien käyttöön, hankkeiden ja projektien hallintaan sekä osastojen väliseen yhteistyöhön ja verkostoitumiseen. Tärkeintä on ymmärtää, että valmentama toiminta on jatkuvaa kehittämistä ja ihmisten välistä vuorovaikutusta. Tässä tutkimuksessa saatiin havaintoja, jotka tukevat esitettyä teoriaa.

Competitive ability of corn in coexistence with goosegrass

Competition between plants is one of the main interferences that occurs in agricultural systems and accounts for significant crop yield reductions. The aim of this study was to assess the competitive ability of corn in coexistence with the weed species Eleusine indica. The experiments were conducted in a greenhouse, in the growing season 2010/2011, and were arranged in a completely randomized design with four replications. The experimental units consisted of plastic pots with a volumetric capacity of 8 L. Treatments were arranged in a replacement series with five proportions of corn plants and weed: 100:0, 75:25, 50:50, 25:75, and 0:100, respectively, with a constant population of eight plants per pot, at the end of each treatment. The competitiveness analysis was conducted through diagrams applied to the replacement series experiment and competitiveness index, and the variables evaluated were root, shoot, and total dry mass, and plant height. When in equal proportions, corn showed competitive ability equivalent to goosegrass in relation to the variables shoot, root, and total dry mass. Goosegrass was more competitive than the crop in relation to plant height.

Competitive ability of soybean cultivars with horseweed (Conyza bonariensis)

The existence of large areas infested with populations of Conyza spp. resistant to glyphosate in Brazil demands appropriate and integrated management strategies. This experiment aimed to identify soybean cultivars with greater competitive ability with horseweed plants and to determine plant characteristics associated with this ability. The experiment was arranged in a randomized complete block design with split plots. Seven soybean cultivars (CD 225 RR, BRS 232, CD 226 RR, NK 7054 RR, BMX Apollo RR, BRS 245 RR and BRS 255 RR) were allocated in the plots, and two interference situations (absence and 13.3 plants of Conyza m-2, transplanted seven days before soybean planting) in the subplots. The average yield loss due to competition with horseweed was 25%. Cultivar CD 226 RR showed no significant grain yield loss due to competition, compared to the control without infestation, but showed the lowest average grain yield. The BRS 232 genotype showed loss of grain yield of only 14%, and presented positive plant height and leaf mass at 20 DAE, as well as dry matter of stems+branches in all evaluations, features related to its higher performance and greater ability to withstand competition with horseweed plants.

Customer value assessment in business markets

Understanding how firms create, communicate, and deliver value to customers is a key factor when firms seek to differentiate in increasingly competitive and commoditized business markets. As product and price have become less important differentiators in many industries, suppliers are increasingly seeking ways to differentiate themselves based on delivered customer value. Therefore, to gain a holistic understanding on what their offerings are worth to the customer, suppliers need to conduct customer value assessment, which quantifies the impact of a supplier´s offering to customers’ costs and returns. However, from a managerial perspective, customer value assessment is the single most critical challenge for firms in business markets. Consequently, developing holistic frameworks for customer value assessment is seen as one of the most important research priorities for marketing research. The purpose of this study is to explore the process of customer value assessment in business markets. Business markets represent a context where an increasing number of industrial firms are transitioning from basic product offerings towards service-based and solution-oriented hybrid offerings, which emphasize value co-creation and realization in the long term, thus making it difficult to quantify their monetary value. This study employs exploratory and qualitative research design by applying inductive and discovery-oriented grounded theory and multiple case research methods. The empirical data comprise interviews with 61 managers from 12 industrial firms, including seven best practice firms in customer value assessment. The findings of this study show that customer value assessment is essentially a crossfunctional process, which involves several organizational functions. The process begins well before and continues long after the actual delivery, often until the end of a supplier´s offering’s life-cycle. Furthermore, the findings shed light on alternative strategies that firms in business markets can adopt to implement the customer value assessment process. Overall, the findings contribute to customer value research, the sales and organizational management literature, the service marketing and solutions business literature, and suggest several managerial implications on how firms in business markets can adopt a holistic approach to assess value created for customers.

Liiketoiminta-analytiikka osana yritysten päätöksentekoa

Liiketoiminta-analytiikka on yksi yritysten suorituskyvyn johtamisen osa-alue, joka on viime aikoina noussut vahvasti esille yritysten kilpailuedun mahdollistavana avaintekijänä. Tämän tutkimuksen tavoitteena oli kartoittaa yritysten liiketoiminta-analytiikan nykytila ja tarpeet Suomessa. Tutkimus on luonteeltaan kvalitatiivinen vertaileva tutkimus. Tutkimuksen empiirinen aineisto kerättiin kahden menetelmän yhdistelmänä. Liiketoiminta-analytiikan hyödyntämisessä edistyneempien yrityksien asiantuntijoille toteutettiin haastattelut. Lisäksi toteutettiin sähköpostitse lomakemuotoinen kyselytutkimus, jotta saavutettaisiin kattavampi näkemys analytiikan markkinoista. Tutkimuksessa on kartoitettu, miten Suomessa ymmärretään liiketoiminta- analytiikan käsite eri yrityksien analytiikan asiantuntijoiden toimesta, sekä minkälaisissa päätöksentekotilanteissa liiketoiminta-analytiikkaa hyödynnetään ja minkälaisilla tavoilla. Lisäksi on selvitetty, miten liiketoiminta-analytiikan kehittämistä ja analytiikan kyvykkyyksiä hallitaan yrityksissä. Liiketoiminta-analytiikka on Suomessa tietyillä toimialoilla erittäin kehittynyttä, mutta yleisesti ollaan jäljessä alan edelläkävijöitä ja esimerkiksi Ruotsia. Liiketoiminta-analytiikan hyödyntäminen ja tarpeet ovat pitkälti kohdistuneet päätöksentekotilanteisiin, joissa yritys kohtaa asiakkaansa. Suurin yksittäinen este liiketoiminta-analytiikan hyödyntämiselle on resurssi- ja osaamisvaje.