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Course of studies
- MBA - International Business Management (55) (remove)
A contract as one of the essential means which regulates national and international commercial transactions, intended to determine the rights and responsibilities of the parties and protect their assets. Parties to international business transactions may freely choose the law governing their contract. As a result, parties are free to choose a contract law which best fits their needs, irrespective of its connection to the particular transaction. The market of contracts offers a choice among the laws of national jurisdictions and uniformed commercial contract law drawn up by intergovernmental organizations. Even application of a reputable national law or uniformed contract law does not guarantee eligible certainty. In particular, uncertainty is not admissible in transactions of industrial products and technologies, where protection of intellectual properties is one of the crucial aspects. In the aforementioned conditions, it might be a problem for businesses to make an appropriate choice of an applicable law of a contract, which is less complex, involves adequate efforts of contract enforcement and costs of dispute resolution. The task of this research is an analysis of different legal environment and making suggestions to a business in a subsequent strategy, depended on scopes of business transactions, national or international, and power levels of the involved parties. The research to be carried out in the following four parts, problem setting, theoretical study, empirical study and implementation. Solutions of the problems related to making and enforcement of a contract and dispute resolutions, basically may be divided into preventive and reactive actions. The preventive actions include choice of an applicable contract law, involving various mechanism to ensure that each party will stick to the contract terms, like self-enforcement, reputation, third party audits. As the reactive actions there may be considered, formal litigation through the judiciary system, which might be costly and slow, and alternative dispute resolution, such as an arbitration, mediation and conciliation hearings.
The business environment has changed within the past few decades. Growing global competition and the trend of shortening product life-cycle have reshaped the market, coercing companies into reconsidering their business strategies and product development. Higher quality, better time-to-delivery, and cost optimization are crucial factors for firms to compete in this tumultuous market. Therefore, companies are adopting a New Product Development (NPD), which is agile and customer-centric. The path toward change, however, is not identical for every enterprise since companies have their own unique organizational architecture and culture, demanding a thorough consideration of various facets of change, which is the focus of this study. EKU Power Drives, the company case study for this research, is actively involved in innovating electrification solutions and embedded software control for mobile power generation in the oil and gas industry upstream segment. The firm is considering transforming to an agile-based framework to fulfill its vision, which is becoming the most preferred partner for the key players in the target markets. This study aims to investigate the optimal Agile methodology and framework for the case study according to its business context, identify the challenges and how to address them, and outline an implementation procedure.
Improving conditions for economic growth in Colombia, Investment opportunity in Infrastructure
(2015)
The purpose of this thesis is to get a clear understanding of the situation of transport infrastructure of Colombia. Examine the reasons and the current situation of the country´s background that explains the delay in infrastructure development and the poor quality of the transport networks, being able to find objective arguments to suggest certain type of investment for the coming years that will help to improve the conditions for economic growth. The research goes deep in to the evolution of the country and the role of transport infrastructure in Colombia, highlighting the most important facts and types, to get an overall understanding of the actual situation. The objective is to identify which is the line of investment that will best fit the country´s development in the time where globalization and free trade agreements take active part of Colombia´s growth in the last years, however threatening the industries pushing them to a more efficient and productive environment. On the basis of the results of this research, it can be concluded that Colombia needs heavy investments in the future years to try closing the breach left behind decades of inefficient policies and strategies. The involvement of the private sector in transport infrastructure projects is necessary to fund the type of investments that the country needs. Furthermore, there has to be continuity in the actual concession programs for the road network plus a big investment to bring back the railroad network into an efficient long lengths transport for both passengers and products.
Industry 5.0 is a new age of production that combines human-machine cooperation with cutting-edge technologies. Despite all of Industry 5.0's advantages, there are new cybersecurity threats that need to be considered in order to maintain the stability and security of networked systems. In the first section of the thesis, Industry 5.0 is introduced, along with its benefits and features. Cyber threats posed by automation, robotics, the Internet of Things, artificial intelligence, and networked systems are also noted.
The thesis delves deeply into the vulnerabilities and possible attack paths that hackers can use in Industry 5.0 settings. It looks at vulnerabilities in IoT devices, human mistakes, unprotected communication protocols, and supply chain vulnerabilities, giving a thorough grasp of the hazards involved. Case examples from the real world illustrate how cyberattacks affect Industry 5.0 systems, highlighting the necessity of strong defenses.
In order to develop recommendations for Industry 5.0 security, the thesis examines a number of cybersecurity best practices and standards, including the NIST Cybersecurity Framework and ISO 27001. It highlights how crucial it is to carry out thorough risk assessments and apply efficient risk management strategies in Industry 5.0 settings. The thesis recommends staff awareness and training, incident response strategies, and technology controls as ways to lessen cyber dangers.
The thesis also looks at innovative ways to improve Industry 5.0 cybersecurity, including secure communication protocols, blockchain for supply chain security, artificial intelligence (AI) for attack detection and response, and safe IoT device design. It also takes into account the legal and regulatory sides of cybersecurity, evaluating how well they work to handle privacy and ethical issues as well as lessen cyber threats.
To improve Industry 5.0 cybersecurity, the thesis also looks at cutting-edge technologies including blockchain for supply chain security, AI for threat detection and response, secure communication protocols, and safe IoT device design. It evaluates the efficacy of legal and regulatory measures in mitigating cyber dangers and resolving privacy and ethical issues while taking cybersecurity into account.
The thesis highlights the need of industry cooperation and information exchange in addressing Industry 5.0 cyber threats. It assesses initiatives, partnerships, and networks that support the sharing of best practices, information, and threat intelligence. In the conclusion, the thesis explores Industry 5.0's future orientations and offers academics, policymakers, and business experts’ advice on how to proactively mitigate new risks and guarantee the security of Industry 5.0 ecosystems.
Overall, the thesis contributes to a better knowledge of Industry 5.0 cyber dangers and provides practical solutions through the use of multidisciplinary research, real-world case studies, and examples. Its purpose is to encourage the secure and successful use of Industry 5.0 technology.
With the ever increasing global competitive business environment, capturing new lucrative markets has taken the forefront for Multinational Entities (MNE’s). In the recent past, emerging countries have gained prominence as a focal growth destination for many MNEs. Despite the business opportunities that they offer, they still remain complex markets in which to do business. Consequently, for the MNEs that have made entry into these markets, adequate growth strategies designed to include sets of activities that deliver a unique mix of value to the organization are imperative.1 This therefore calls for such organisations to adapt their existing growth strategies in emerging markets to various demands. This is in order to maximise performance through well-orchestrated growth agendas that work in concert with the overall corporate strategy. Nevertheless, for overall success, businesses are becoming more aware that operational and control failures can be extremely costly.2 This is because growth comes with increased risks hence a need for new solutions to mitigate and manage the risks. Consequently, the discipline of compliance which is designed to mitigate risks through adherence of; legal requirements, internal and external policies is no longer a second-thought function that requires action down the road. Corporate leaders now recognize that it is important for business expansion and the protection of shareholder value.3 In these markets, compliance related issues have proved to be difficult hurdles for many organisations and they are widely viewed high risk compliance markets. 4 Despite this, many MNEs that venture into such markets fail to integrate their growth strategies and compliance programmes/strategies.
This paper explores the hypothesis that for organisations to optimise performance, their compliance programmes/strategies should work in concert with their broader strategic goals, e.g. growth. This thesis aims to show how the two can be integrated by using Rolls-Royce Power Systems’ AG (RRPS) growth strategy in China and its compliance programme as a case study. The hypothesis is that, if successfully integrated, RRPS can maximise its growth performance in China. Secondly the study seeks to provide a flexible check list or template that RRPS can adapt in its future Integrated Sales Road Maps (ISRMs) in other targeted countries or regions.
Digital Transformation is gradually changing the ways of operating the business. With the advancements and innovations in technology and changing customer preferences, it is essential to adapt to these changes. Digital transformation has the capability to impact nearly every line of business but one of the most significant impact is on Customer Experience. Embracing new technology and processes provides opportunity to create better experience for customers by focussing on automation, self-service, value, quality, customer expectations etc. Advanced systems or solutions that fulfil these requirements can be incorporated in the technology and process landscape of an organization who is supporting customers. This thesis aims at conceptually integrating the Customer Service and Retail Store Support processes at HUGO BOSS into the new Enterprise Service Management (ESM) tool which will in turn drive the digital transformation at HUGO BOSS. Moreover, the purpose of the study is to provide a recommendation if the new ESM tool can replace the existing Retail & Customer Care ticketing tool, thus enabling the Retail & Customer Care team and their respective processes to be fully onboarded and implemented in future into the new tool. This thesis is a qualitative research. At first, qualitative data about the existing ticketing tools used to provide customer service and retail store support is gathered through secondary data collection methods. Secondly, in-depth semi structured interviews with nine respondents from Retail & Customer Care team and IT Support teams were conducted to collect their feedback and analyse the benefits and drawbacks of these tools. Next, the thesis introduces the new ESM tool followed by its evaluation using Fit-Gap Analysis method. Further, the thesis includes the concept of ideal customer service and retail store support processes to be supported by the new tool using process flowcharts. In conclusion, the results of the thesis are presented based on which a future recommendation is provided.
The main objective of this thesis is to investigate and analyze the professional journey of thirteen foreign doctors and the opinion of a German doctor, to explore how their integration process has been into the German labor market, taking into account their personal experiences; especially what they thought was helpful and the obstacles that they encountered during their journey, and to make recommendations for hospitals to help them address the integration of foreign doctors, something that should be done as soon as possible, due to the rising amount of foreign physicians coming to Germany to cover the many open positions that can no longer be filled by the local population.
The thesis is divided in four large sections; the first serves as a basis to understand the problem of the shortage of physicians in Germany; the second one is a literature review taking into account the migration of health professionals, cultural standards, intercultural competence and communication, the different acculturation strategies that immigrants use, inpatriation and integration, and last the management of diversity in healthcare; the third one has to do with the methodology that was used; and the last two parts encompass the findings and recommendations.
In conclusion, it can be said that recruiting foreign physicians is a very good way of approaching the actual shortage of physicians that exists in Germany. However, it is imperative that health care organizations, are aware that the integration process of foreign doctors and the adaptation of the whole organization to this new working environment is of extreme importance to provide the quality care that is expected at any health care institution, and it is imperative that hospitals recognize the need to include diversity management and a Willkommenskultur as vital pillars for the organization.
Patient engagement is the most important element in the process of research/development of medicinal products and healthcare management in today’s times. In a country like India which has a huge population and limited state of regulatory affairs it becomes important to walk the extra mile to protect the patient lives and truly serve them. Time and again it is seen that there is no or limited focus on patient centric processes and we still tend to focus on sponsors as the key stakeholder.
The author in this thesis aims to focus on the clinical trial landscape of India and determine if there is a need to improve the clinical trial processes. If yes, then what type of change is the audience looking for.
The author tries to introduce the human element in the process and remind us all that it is the ‘patients’ who are the centre for the drug development process and serving them and alleviating their pain in the true purpose of the process.
The author along with the helping us find a definition of patient centricity in India, also proposes a model that can be used by the Indian pharmaceutical companies to focus on patient centricity at different stages of the drug development cycle within their organisations.d
Market entry strategy for German mittelstand medical device
companies into the Indian market.
(2015)
German medical devices companies are at the forefront of technology when it comes to innovation and R&D. Most of the European medical device manufacturing companies are located in Germany and the number of patents filed by these companies shows the amount of innovation in the industry. A majority of these medical devices are exported within the European Union countries. Economic slowdown combined with market saturation and increased competition makes Europe a very competitive market for these companies. Indian on the other hand is one of the fasted growing economies in the world. The Indian medical device sector is relatively an untapped markets for innovative medical devices. There are tremendous market opportunities due to the fact that local manufacturing base for medical devices are underdeveloped
and often neglected. Most of the local Indian manufactures are engaged in producing basic medical devices and mostly into medical disposables and supplies. Around 70% of the medical devise sold in India are imported products. There is a huge demand and supply gap that is not being filled by the local manufacturers. India offers the perfect new market opportunity for German medical companies looking to venture into emerging new markets. There is abundant supplied of skilled manpower, with wages lower than that of the neighbouring China. India also has a rapidly growing middle class with increasing purchasing power. However, the regulations in the Indian medical device industry are not very clear and transparent. The Indian bureaucratic system is rampant with corruption and red tapes that needs to be tackled and navigated skilfully. A Germany company looking to enter the Indian market needs to understand that nothing in India can be implemented by a text book style entry strategy. In this thesis, we will analyse few of the most suitable entry strategies for German medical device companies with the advantages and disadvantages of each entry mode. We will also analyse the process of doing business in India, which requires an understanding of various aspect of the Indian culture and business relationship building in India. Further, we will analyse the current market scenario with a brief analyse of the local manufacturers currently in the market along with some information on foreign players in the market. Will also interview 5 experts from the medical field and look into few real case studies.
Latin America has become a potential market in the lately years. Brazil has a potential market, being the fifth largest country in terms of population; moreover, the Brazilian economy has grown over the past years with the increasing middle class consumers. Mexico, on the other hand, with its strategic position and as a bridge for the whole American continent and having the most free trade agreements in the world is definitively an attractive investment destination. The main objective of this research is to study what type of entry modes should German companies in the high- tech industry and automotive industry use in Latin American market. As part of the research there has been a study of the internationalization theories, the entry modes and the factors that might affect the entry mode. Besides, the author has approached which characteristics do the Latin American market has and which opportunities may German Small and Medium-Sized Enterprises benefit from. Furthermore, this research incorporates some case analysis from German companies who already entered into this region, as a result there would be a analysis in order to see which patterns those companies have followed.