Computational Market Dynamics of Virtual Economies

The last two decades have provided a vast opportunity to live and explore the compulsive imaginary world or virtual world through massively multiplayer online role-playing games (MMORPGs). MMORPG gives a wide range of opportunities to its users to participate with multi-players on the same platform, to communicate and to do real time actions. There is a virtual economy in these games which is largely player-driven. In-game currency provides its users to build up their Avatars, to buy or sell the necessary goods to play, survive in the games and so on. As a part of virtual economies generated through EVE Online, this thesis mainly focuses on how the prices of the minerals in EVE Online behave by applying the Jabłonska- Capasso-Morale (JCM) mathematical simulation model. It is to verify up to what degree the model can reproduce the virtual economy behavior. The model is applied to buy and sell prices of two minerals namely, isogen and morphite. The simulation results demonstrate that JCM model ts reasonably well to the mineral prices, which lets us conclude that virtual economies behave similarly to the real ones.

Developing asset management in district heating and cooling business in a large energy company

The purpose of this Master´s Thesis is to develop asset management and its practices in case company. District heating and cooling systems operated by case company around Finland, Sweden, Poland and the Baltics form an enormous-sized asset base where some parts are starting to reach their end of life-cycles. Large-sized asset renewal actions are under discussion and maintenance spending is increasing. Financially justified decisions in changing business environment are needed. Asset management is one of the most important concepts for production organization which operates with capital-intensive production assets. Organizations profitability is highly dependent on assets´ performance. Such assets, like district heating and cooling systems, should be utilized as efficiently as possible within their life-cycles but also maintained and renewed optimally. In this qualitative thesis, empirical interview study was conducted to describe the current situation on how the assets are managed in the case company and to examine the readiness to implement a new, risk-based solution. Asset management revealed to be a very well-known concept. From proposed risk-based asset management point of view, several key observations were made. It was seen as a suitable solution, but further development will be needed. Based on the need and findings, several key processes and frameworks were created and also tested with a case study. Assets` condition monitoring should be improved, which would have a positive impact on event probability assessment. Risk acceptance is also a thing to be discussed further. When the evaluation becomes fluent in single investment cases, portfolio-level expansion should be considered and started. As a result, thesis proposes a solution how risk-based asset management could be performed practically in a capital-intensive case company in order to optimize the maintenance spending in a long run. Created practical framework is made universal: similar principles can be applied into multiple cases in case company but also in other energy companies. Risk-based asset management`s benefits could be utilized best in portfolio-level optimization where the capital would be invested to the most important objects from total risk point of view. Eventually, such approach would allow case company to optimize capital spending in a situation where funds are not adequate to cover all the mandatory needs and prioritization between the investment alternatives will truly be needed.

Model to Build a Service Quality Centric Customer Reference Portfolio in a Software as a Service Company

The goal of the master’s thesis was to develop a model to build a service quality centric customer reference portfolio for a software as a service company. The case company is Meltwater Finland Oy that leverages customer references externally but there is no systematic model to produce good quality customer references that are in line with the company strategy. The project was carried out as a case study, where the primary source of information were seventeen internal interviews with the employees of the case company. The theory part focuses on customer references as assets and service quality in software as a service industry. In the empirical part the research problem is solved. As a result of the case study, the model to build a service quality centric customer reference portfolio was created and further research areas were suggested.

Increased profitability and efficiency by improving the Meetings & Events Category S2P-process – Case Company

The purpose of this research was to examine the most optimal way to arrange meetings and events management and source to pay –process in a global company. The research is a qualitative multi-method case study and is a commission from a global company. The theoretical framework of this research structures around two approaches. First approach focus on a purchasing strategy and management that shows the current role of procure-ment and introduce different ways to organize purchasing functions. Second approach focus on purchasing process management and improvement methods. Annual spend analyze, external and internal interviews and internal survey were done to gain compre-hensive knowledge about the current state of operations and possible solutions. Gathered data were then combined to theoretical framework in order to create optimal solution for the case company. Based on the research a source to pay –process and global policy for meeting and event category was created. The solution includes all relevant matters that are needed in order to secure efficient and profitable operations. The results show that optimal way to arrange meetings and events structures around standardized source to pay –processes, central-ized procurement, preferred supplier and clearly defined roles and responsibilities be-tween different stakeholders.

Co-creating Value For Smart Phone Operating Systems Via Virtual Discussion Forums

In the traditional way, value is created by manufacturer or producer of a product without engaging the customers. So, traditionally value creation is a monopoly in the part of a manufacturer. After gathering all the raw materials the manufacturers are inserting value to a product. And the inserted value is recognized in the time of consuming the product. In the modern time though there is traditional way of value creation but with the increase of more educated, smart, and technically sound customers the idea of value creation has changed. Now, customers are also contributing in value creation as value co-creator even before the product is consumed. This scenario has been encountered in the thesis with the main purpose of how value is cocreated in smart phone operating systems. The purpose is further divided into the following supobjectives: o What is value co-creation in smart phone operating systems? o Who participates in value co-creation in smart phone operating systems? o What are the procedures that are involved in value co-creation in smart phone operating systems? The research was conducted as a qualitative desk study by observing two of the leading smart phone operating system providers. Data has been collected from the official discussion forum of both the operating system providers. Other general concepts relating to the purpose of the study has been encountered through literature review. The research findings reveal that customers and companies both together co-create value of anticipated level when they communicate and interact with each other. However, most of the time customer to customer interactions, dialogues and discussions that come out in the core conversation help the value co-creation. The value co-creation framework sets up the customer at the main focus of value creation theory. By nullifying the inherited notion that companies only create value within its boundary and provide it to their customers in exchange of currencies. Rationally, it has been commenced that the firms are merely compromising value propositions to its customers. But the value has been co-created in a point where offerings are combined and interacted with customers’ capabilities, knowledge, resources and perceptions. This new perspective has radically altered the prospect of firms towards its customers. Typically customers are now taking part in value cocreation as a crucial member.

Developing Supply Chain Process Management and Measurement in Global Manufacturing Company

The objective of this research is to create a current state analysis of pulp supply chain processes from production planning to deliveries to customers. A cross-functional flowchart is being used to model these processes. These models help finding key performance indicators (KPIs) which enable examinations of the supply chain efficiency. Supply chain measures in different processes reveal the changes need processes that affect the whole supply chain and its efficiency and competitiveness. Structure of pulp supply chain differs from most of the other supply chains. The fact that there are big volumes of bulk products, small product variations and supply forecasts are made for the year ahead make the difference. This factor brings different benefits but also challenges when developing supply chain. This thesis divides pulp supply chain in three different main categories: production planning, warehousing and transportation. It provides tools for estimating the functionality of supply chain as well as developing the efficiency for different functions of supply chain. By having a better understanding of supply chain processes and measurement the whole supply chain structure can be developed significantly.

Organisaatiokulttuuri, arvot ja sisäinen yrittäjyys kasvuyrityksen kulmakivenä

Yritysten menestystä on perinteisesti pyritty määrittelemään ulkoa käsin. Vain vähän tutkimuksia on pystynyt linkittämään sisäisiä ilmiöitä kuten organisaatiokulttuuri tai sisäinen yrittäjyys kasvuun ja suorituskykyyn. Tutkimus on laadullinen tapaustutkimus, jossa syvennyttään tarkastelemaan ICT-toimialan kasvuyritykseen yrityskulttuurin olemusta, ilmenemismuotoja sekä yrityksen arvopohjaa ja sisäisen yrittäjyyden elementtejä. Syvällisen ymmärryksen saavuttamiseksi tutkimuksen empiirinen aineisto tuotetaan aineistotriangulaatiolla hyödyntäen sekä puolistrukturoituja yksilöteemahaastatteluja (2), sosiaalisen median työkalua virtuaalikeskusteluun (170) ja ryhmähaastattelu (3). Ilmiötä tarkastellaan sosiaalisen rakentumisen näkökulmasta. Tuotetun aineiston analyysin perusteella voidaan todeta, että organisaatiossa oleva kulttuuri koetaan tärkeäksi ja siitä löytyvät toimintamallit vahvasti omaksi. Kulttuuria leimaavat yrityksen toimintaa ohjaavat filosofiat ja periaatteet, eli arvot, joita viedään organisaatioon vahvan verkostoitumisen ja vuorovaikutuksen kautta henkilöstöön. Arvot kumpuavat asiakaslähtöisyyden lisäksi. yrittäjähenkisyydestä, reiluudesta, henkilöstön hyvinvoinnista, vastuullisesta tekemisestä sekä kasvuyritysasenteesta. Ne konkretisoituvat toimintamalleihin ja –tapoihin, jotka yrityksessä mielletään omaksi, erityiseksi kulttuuriksi. Sosiaalinen identiteetti ja yhteisöllisyys ovat erittäin vahva. Henkilöt kokevat voivansa sisäisen yrittäjyyden kautta vaikuttaa yrityksen kasvutarinaan ja he kokevat organisaation mahdollisuuksien alustana, näin ollen he kokevat itsensä ja osaamisensa tarpeelliseksi yritykselle.

Improvement of Energy Efficiency in a Gold Mining Industry: Case Study of a Russian Gold Mining Company

The issue of energy efficiency is attracting more and more attention of academia, business and policy makers worldwide due to increasing environmental concerns, depletion of non-renewable energy resources and unstable energy prices. The significant importance of energy efficiency within gold mining industry is justified by considerable energy intensity of this industry as well as by the high share of energy costs in the total operational costs. In the context of increasing industrial energy consumption energy efficiency improvement may provide significant energy savings and reduction of CO2 emission that is highly important in order to contribute to the global goal of sustainability. The purpose of this research is to identify the ways of energy efficiency improvement relevant for a gold mining company. The study implements single holistic case study research strategy focused on a Russian gold mining company. The research involves comprehensive analysis of company’s energy performance including analysis of energy efficiency and energy management practices. This study provides following theoretical and managerial contributions. Firstly, it proposes a methodology for comparative analysis of energy performance of Russian and foreign gold mining companies. Secondly, this study provides comprehensive analysis of main energy efficiency challenges relevant for a Russian gold mining company. Finally, in order to overcome identified challenges this research conceives a guidance for a gold mining company for implementation of energy management system based on the ISO standard.

The roles and tasks of salespeople in Software-as-a-Service company's value-based sales process

Recent research in relationships marketing and sales and sales management emphasizes companies’ ability to create customer value as a core of all business-to-business relationships. The role of individual salespeople in business relation-ships is commonly acknowledged, but has been largely neglected in extant literature. This study offers especially more detailed perspective on salespeople’s roles and tasks in business-to-business value-based sales process. It focuses especially on Software-as-a-Service business environment. The objective of the study is to find out how salespeople can create value in Software-as-a-Service value-based sales process. It determines value-based sales process, salespeople’s roles and tasks in it, and combines value assessment in to process. The results indicate that salespeople have to adapt different selling roles and tasks in Software-as-a-Service value-based sales process to be able to support the customer’s value-in-use experience. The process itself is highly complex, consisting of multiple facets and selling behaviors, and involves relevant actors from both parties of relationship. The study concludes with a discussion of possibilities that provide interesting aspects for future research.

Data and Inventory Management in Spare Part Business: Developing Operations in the Case Company

After sales business is an effective way to create profit and increase customer satisfaction in manufacturing companies. Despite this, some special business characteristics that are linked to these functions, make it exceptionally challenging in its own way. This Master’s Thesis examines the current situation of the data and inventory management in the case company regarding possibilities and challenges related to the consolidation of current business operations. The research examines process steps, procedures, data requirements, data mining practices and data storage management of spare part sales process, whereas the part focusing on inventory management is reviewing the current stock value and examining current practices and operational principles. There are two global after sales units which supply spare parts and issues reviewed in this study are examined from both units’ perspective. The analysis is focused on the operations of that unit where functions would be centralized by default, if change decisions are carried out. It was discovered that both data and inventory management include clear shortcomings, which result from lack of internal instructions and established processes as well as lack of cooperation with other stakeholders related to product’s lifecycle. The main product of data management was a guideline for consolidating the functions, tailored for the company’s needs. Additionally, potentially scrapped spare part were listed and a proposal of inventory management instructions was drafted. If the suggested spare part materials will be scrapped, stock value will decrease 46 percent. A guideline which was reviewed and commented in this thesis was chosen as the basis of the inventory management instructions.

Carbon pricing and its effect on company profitability

In order to reach the 2°C climate target, the carbon price should rise significantly in order for it to be financially rewarding for companies to reduce their emissions. This research aims to find how a significant increase in the carbon price would affect the profitability of companies. Prior research has not found consensus on how regulatory policies affect companies. This research looks at profitability factors of carbon pricing through a mix of related issues such as the carbon risk, carbon pricing mechanisms and cost pass-through of additional costs. The research is quantitative and examines financial data and emissions data regarding scope 1 and scope 2 emissions on 328 European companies. The data analysis method utilised is a sensitivity analysis conducted as a scenario analysis. Different price increases and cost pass-through rates are tested to see how company profitability is affected. As the companies are distributed between 9 sectors and 53 industries, the results vary. The industries that are found to be affected by an increase in carbon pricing show drastic negative changes in profitability. The results complement prior research identifying the most carbon-intensive industries, but also provide some new insights on industries that may be affected by carbon pricing. Industries related to manufacturing, electricity and energy are partly significantly impacted, but also industries related to tourism and food show potential signs of impact when an increased carbon price is introduced.

How to reach more potential global b2b customers to Finnish high tech company websites

This thesis examines the optimization of a website in terms of creating website visibility and interesting and attractive online information, with the aim of finding ways how the case company can increase the number of online visitors for the websites, who would even-tually contact the case company, and become customers. The theoretical part concentrates on website visibility, academic knowledge about search engine optimization, integrated marketing communications, website effectiveness and influence tactics (mostly non-coercive) in an online b2b buying context. The empirical part included an experiment of two weeks on the case website. Search engine optimization requires the most relevant key terms and keywords to be selected and carefully implemented to meta descriptions of the most informational pages. The information visible to visitors on these pages was also opti-mized to make it interesting and purposeful for the targeted audience. The most suitable influence tactics were implemented to certain pages to attract the website visitors to con-tact the case company. The results suggest that relevant key terms in meta descriptions do improve, or maintain the same high, ranking a page has on search engine result pages, but this is not directly connected to the amount of visitors to the website. The number of visi-tors does not either affect the amount of customer contacts the company received during the experiment period.

A Drop of Success – Internationalization Readiness of a Young Finnish Company

This study analyzes a young Finnish micro-sized firm that is attempting to reach internationalization readiness in the pre-internationalization stage. The purpose of this research is to analyze and better understand how a young firm reaches internationalization readiness in the pre-internationalization stage. Small firm internationalization is a vastly researched topic. Little emphasis has been placed on the specific antecedents that help the firm reach internationalization readiness in the pre-internationalization stage. The contribution of this research is thus two-fold. First, the research contributes to known theories of firm internationalization. Second, the research further extends knowledge related to how firms reach internationalization readiness specifically in the pre-internationalization stage. The theoretical background of the research involves the traditional stage theory (Uppsala model), pre-internationalization stage theory, international entrepreneurship theory and dynamic capabilities theory. With the help of these four relevant theories, empirical data was collected. The research method utilized in this study was a qualitative single case study combined with critical realist philosophy. The data analysis of this research was conducted using abduction in order to allow freedom in the analysis of the research findings. The empirical data was collected through semi-structured, face-to-face interviews. The key respondents in this study were the two managers of the case company. The findings of this study revealed four important themes from the case company’s perspective towards reaching internationalization readiness in the pre-internationalization stage. Extensive knowledge of the home market and target market were the two most important themes in this research. The next most relevant theme for reaching internationalization readiness in the pre-internationalization stage was the managers’ previous international business experiences. The final theme affecting the firm’s ability to reach internationalization readiness was the firm’s specific resources. Even though the research findings of this study are case sensitive, the research insights and explanations have the potential to be transferred to similar firms and contexts. Future research should therefore aim towards more longitudinal studies in which the context is emphasized. This should include a variety of firms in similar stages of internationalization and contexts. Future studies of this kind would be of great benefit to academia.

Improving purchasing process for small purchases at a manufacturing company in chemical industry

This thesis was conducted on assignment by a multinational chemical corporation as a case study. The purpose of this study is to find ways to improve the purchasing process for small purchases at the case company. The improvements looked after are mainly cost and time savings. Purchasing process is the process that starts from the requisition of goods or services and ends when the invoice is paid. In this thesis the purchases with value less than 1000€ are considered to be small. The theoretical framework of the thesis consists of general theoretical view of costs and performance of the purchasing process, different types of purchasing processes and a model for improving purchasing processes. The categorization to small and large purchases is the most important followed by the division between direct and indirect purchases. Also models that provide more strategic perspective for categorization were found to be useful. Auditing and managerial control are important parts of the purchasing process. When considering the transaction costs of purchasing from the costs–benefits perspective large and small purchases should not have the same processes. Purchasing cards, e-procurement and vendor managed inventory are seen as an alternative to the traditional purchasing process. The empirical data collection was done by interviewing the company employees that take part of the purchasing process in their daily work. The interviews had open-ended questions and the answers were coded and analyzed. The results consist of process description and assessment as well as suggestions for potential improvements. At the case company the basic purchasing process was similar to the traditional purchasing process that is entirely done with computers and online. For some categories there was already more sophisticated e-procurement solutions in use. To improve the current e-procurement based solutions elimination of authorization workflow and better information exchange can be seen as potential improvements for most of the case purchases. Purchasing cards and a lightweight form of vendor managed inventory can be seen as potential improvements for some categories. Implementing the changes incurs at least some cost and the benefits might be hard to measure. This thesis has revealed that the small purchases have potential for significant cost and time savings at the case company.

Informe de satisfacción renovaciones 2013: Renovación Virtual

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