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Course of studies
- IBM - International Business Management (337) (remove)
Global key account management is the use of the key account management system aimed at global accounts; these global accounts can also be known as multinational companies. These types of companies are key players for business-to-business model companies as they might account for as much as 80% of all sales. At this level of importance, to lose a customer like that could be a death sentence for the business. Adopting a global key account management to keep these essential types of customers is a good strategy, knowing the tremendous value they provide. The company MinebeaMitsumi, being aware of this, brings up the case study for the initiation of a global key account management system, that will bring a best in class service to the key accounts of MinebeaMitsumi in the automotive market. To start this project, it is needed an assessment of the current situation in which MinebeaMitsumi operates to its key accounts. At the same time, it is intended to upgrade the digital infrastructure MinebeaMitsumi uses for its operations. The case study is presented as an exploration and analysis of MinebeaMitsumi and how should this new system be implemented in an early stage. This way, preparing the ground for a larger project at the time of full implementation.
The goal of this thesis is to evaluate the impact the choice of registered cooperatives as legal form for start-ups can have on the success of crowdfunding campaigns regarding information asymmetry and agency costs. The theoretical analysis argues that due to the reduction of information asymmetry between founders and contributors, agency costs should be reduced,and success of their crowdfunding campaigns should be more likely. This result is confirmed with some caveats with the help of expert interviews. In conclusion, only companies that aim for additional benefits of registered cooperatives are eligible to be founded as registered cooperatives in order to decrease information asymmetry and increase chances of success in crowdfunding.
Throughout the paper, the different concepts are applied to the practical example of the founding process of a social start-up, the Zeitcafé Freiburg, which results in the recommendation of registered cooperatives as legal form and crowdfunding as one source of capital.
In recent years, the topics of new work and agile practices have received growing at-tention. The concept and mindset Working Out Loud are embedded in this field. It is described by five practices and attitudes being visible work, relationships, leading with generosity, purposeful discovery, and having a growth mindset.
The present study attempts to evaluate whether it holds that this concept is predomi-nantly adopted by employees in hierarchical companies. The underlying assumption is that employees in hierarchical settings are deprived of a sense of self-efficacy which they gain by applying Working Out Loud. The results and conclusions are based on a combination of the findings of existing academic literature and the outcomes of con-ducted interviews with Working Out Loud promoters. As the concept Working Out Loud is not yet scientifically proven, the interviews are particularly important to draw relevant conclusions. For this purpose, employees were asked questions aiming at de-fining the present organizational structure in their companies and the underlying rea-sons for them engaging in Working Out Loud practices.
The conducted interviews and analyses yielded the result that employees tend to adopt Working Out Loud practices due to an underlying missing sense of self-efficacy, among other reasons. It could be shown that although not previously selected, the in-terview sample of Working Out Loud promoters appeared to be predominantly posi-tioned in hierarchical structures. Whether this proves the hypothesis right or whether the benefit and visible change in a hierarchical context is higher than in an agile one, needs to be further analyzed in future research.
XXXXXXXX, according to XXXXXXXX is a disruptive technology. This technology offers producers several advantages, such as more efficient and sustainable production, as well as cost savings and process optimization. Many producers are under increasing pressure to adapt their production in the long run tothe fast-growing technological standards andincreasing worldwide environmental consciousness. They are now facing the challenge of maintaining their competitive advantage in the medium to long run. Unfortunately, mostcompanies are not familiar with the new XXXXXXXX and XXXXXXXX might encounter rejection. Therefore, it is necessary to understand what actions need to be taken to convince a potential customer in the B2B relationship of the new technology. For this purpose, the following research question is posed: Which strategy supports the market entry of XXXXXXXX printing applications?-The impact of XXXXXXXX on technology introduction. To answer the research question, results were compiled on the basis of a literature research and an online survey on customer needs in décor baseboards and in vehicle interior design.
The research and the survey show, that decisions are always based on an emotional basis. In addition, information which is communicated several times and on different sensory levels, is better absorbed. The aspects sustainability, cost savings, individualization, waiting times and competent consultation play a central role for customers. Moreover, an economic challenge is crystallizing due to the Covid-19 crisis. As a result, the focus should be on emotionalizing and dramatizing the content when presenting the new XXXXXXXX technology. Here, the customer’s wishes should be included, and a personal connection should be built up as well as strong emotions evoked. This enables the creation of a very good customer experience, which is essential for decision-taking. In addition, the communication should take place on all sensory levels to provide the potential customer a multisensory experience. In order to better implement the proposed actions, it is recommended to meet the customer at a trade fair or in the XXXXXXXX building.The correct use of the proposed actions will help XXXXXXXX to successfully convince the potential customer of XXXXXXXX.
This thesis deals with the investigation of internationally operating project teams, using the automotive division of the cooperation partner and topic initiator Marquardt Group. The overall research question examines which skills in terms of emotions, culture and know how are required from program managers as a result of globalization. Background information about globalization, project management and the company itself is provided as a first step. In order to get an overview, qualitative expert interviews are conducted with program managers, their superiors, disciplinary supervisors and team members. The interview process serves to gain a stronger knowledge of the weaknesses in project management within the Marquardt Group. The results reveal clear problems, particularly in the analyzed subject areas processes, intercultural competence and communication.
Further information concentrating on intercultural competence and its potential training measures, as well as communication in so-called virtual teams due to the lacking face-to-face communication is given, followed by recommendations for improvements for the analyzed fields with weak points. It can be concluded that globalization and the consequent internationalization have a major impact on project teams requiring especially the advancement of professional, the related methodological, as well as leadership and social competences of program managers.
The purpose of this thesis is to determine which factors of the German entrepreneurial attitude can ensure a successful transition onto the Mexican market, defining the values and characteristics of a German entrepreneur.
In this context, explanations of the characteristics of the German entrepreneur, his "entrepreneurial attitude", "entrepreneurial characteristics" and "entrepreneurial intention" are of importance for the further investigation.
Through the literature research, this content was composed and defined. The Mexican market was taken as the focus and considered in the context of culture, values, and characteristics. Subsequently, the findings were verified and discussed through several expert interviews. By that, the research questions were aimed to be answered.
The results show that the terms of achievement, sense of duty and time-dominated are relevant success factors of German entrepreneurial attitude. There is a need for adaption for those terms and especially for the terms of authoritarian leadership style and hierarchical.
The results of the literature review with regard to the content of the definition of German entrepreneurship were seen by some of the experts as outdated and not up to date.
Finally, this work provides recommendations for a successful transition of German entrepreneurs to the Mexican market to promote entrepreneurial activities. Here, reference is made to the values and characteristics that have found approval or rejection through the interviews.
The literature research was limited to the dimension model of Hofstede and is not including other cultural models. The sample amount of five experts permits only a general analysis and conclusion.
The present thesis attempts to answer the question “What makes a bond green?” by analysing the current status of the green bond market with regards to its regulation and evaluating the need for harmonizing green bond standards.
A green bond, which is characterized by allocating its proceeds exclusively to climate-related or environmental projects, is a relatively novel sustainable financing instrument that has recorded exponential growth since the first issuance in 2007. The green bond market has developed as a privately regulated market leading to a range of different green bond standards and other market mechanisms used for verifying green bonds, of which some have developed into best practice followed by most issuers. This fragmented regulation and the lack of a globally accepted green bond standard leads to the difficulty in clearly identifying what makes a bond green.
By analysing the current best practice and comparing green bond standards this paper identifies the differences between existing standards and suggests the further harmonization of standards as an important prerequisite for the further growth of the green bond market. Consequently, the challenges related to the private nature of green bond regulation is reviewed, leading to the conclusion that the intervention of the government and establishment of public regulation for green bonds could be considered. With regards to the further expansion of the green bond market the EU Green Bond Standard that is currently under development by the European Commission is critically analysed.
The aim of this thesis is to elaborate and evaluate the current employer branding concept at a subsidiary of a globally represented organization. This enables the author to draw conclusions and give improvement recommendations.
The first part is based on scientific literature and data. It outlines the concept of employer branding and shows which areas of a company are affected hereby. Next, it is explained why a successful employer branding concept can be advantageous for companies and how to communicate it. To conclude the first part, challenges that come with employer branding in a global company context are elaborated.
The following part of the thesis, is developed from internal data and information. It focuses on the current employer branding concept at the subsidiary. Moreover, it is revealed why an employer brand is necessary and which challenges and opportunities, for this concept, exist at that subsidiary. It is also reflected on the effects, set corporate guidelines and conditions, have on the local employer branding concept.
The last part, attempts to measure the success of the current employer branding concept at the subsidiary. This is conducted by assessing three different sources with regard to their influence and significance on the employer brand. At first, the company’s key performance indicators are evaluated. Secondly, results of two surveys, which were conducted for this thesis, are analyzed and interpreted. Both give insight on people’s expectations and experiences with employers: One survey investigated an external target group while the other questioned the employees at the subsidiary. As a third source, results of a recent internal survey, which evaluated the employee’s perspective on their workplace, are included and assessed.
To conclude the thesis, improvement suggestions on how to have a successful employer brand, according to demographic region, operating business sector and global context are given. The recommendations include content-related adjustments, proposals for the inclusion of corporate standards, ideas on how to raise the employer brand’s awareness and finally suggestions for improved communication of the local employer brand.
Hybrid work is an increasingly common model of work applied around the globe and is expected to be continuously gaining importance. This thesis is aimed at identifying what impacts hybrid work has on international companies. A literature review was conducted to provide findings of recent research to identify possible positive as well as negative impacts. Furthermore, a survey was distributed to 150 employees with leading positions in international companies, resulting in 16 responses, which were analysed using metrics of multiple regression. The qualitative part of the survey was assessed as well. The small sample size only allows for an indication that hybrid work might impact sick days of the workforce in a negative way and that less business trips are taken due to hybrid work. The other impacts that were identified through the survey suggest impacts on a larger scale than simply human resources, indicating that hybrid work can impact the entire profitability of a company and should therefore be properly assessed and managed with a broad view on all possible impacts on different levels in mind.
The current COVID-19 pandemic which resulted in a so called "people-crisis" changed the people work and forced businesses to re-locate teams to a virtual working environment.
Virtual and remote work became the only way for many firms to stay afloat, and it meant drastic and forced changes in the meaning of work for a large number of employees. Although this seemed to be impossible for many business organizations, the current reality proved the exact opposite. The pandemic put many teams on a test, which only the high-performers and the ones were ready to adapt, learn and grow could pass. Therefore, complex and well-developed organizations need effective team performance in order to survive. Even though technology makes collaboration possible in a virtual environment skills that make it successful. Employees who merely "perform their jobs" are no longer desired by many businesses. Instead, companies search for talent who own an agile mindset and have the required soft skills to work and adapt in a team.
The aim of this research is to provide general information on the importance of teamworking as well as to analyze the impact of the virtual working environment during COVID-19 crisis on the teamwork.
The current mechanisms and information sources for international students in Germany are insufficient. This thesis aims to evaluate the need for potential substitutes of preexisting information sources. Specifically, it analyzes if a commercial service provider can operate as a successful alternative. To investigate current mechanisms and their shortcoming, former information sources were assessed and evaluated. Additionally, five expert interviews were conducted gaining a time accurate evaluation of the present situation. The results show that current information sources are too bureaucratic and restricted in their actions. Nonetheless, the findings also display that there is a great need for optimal and effective access points. This thesis concludes with an analysis of a likely business model, and how it would successfully operate within the Chinese market. Conclusively, a commercial service provider has the optimal prerequisites to fulfill the current demands of international students.
This research explores the efficiency or effectiveness of video interviewing. It checked the effectiveness of video interviewing in the assessment of skills and the prediction of future performances. The research was comparative, meaning that video interviewing was compared to the other media of interviewing. This was done in terms of their advantages, innovativeness, efficiency and practicality. It describes what video interviewing is all about, what qualities and benefits it possesses and what downsides does have. 6 Recruitment Specialists and HR experts [Industry experts] took part in a survey. Results show that video interviewing has many benefits that emulate the basic characteristics of a face to face interview. However, video interviewing has even more advantages that make it more practical than face to face interviews at some stages of the recruitment process. All these observations led to the conclusion that video interviewing is a very effective interviewing media.
Changes are constantly accelerating. A major issue that companies are dealing with is how to communicate those changes in a way that is efficient and effective and therefore successful. Traditional models such as the ones by Lewin, Bridges or Kotter are reaching their limits due to the orientation on fixed vision, goals and processes. The time has come to change the way change is managed. New organizational structures are therefore required. An example of a new model to deal with the speed of change is agile management. Agility provides a platform for better communication, including the quantity and quality aspect. IMS Gear, an automotive supplier located in South Germany, is currently in the stage of a transition. Agile mindsets are anchored in their vision and strategy, yet the implementation of agile frameworks is still improvable. The PEP project is a first step into the direction of ensuring the future of the company despite all external and internal changes. Therefore, based on a model by Audi AG consultant Gergs, improvement approaches are developed.
The signs of global warming are everywhere, ranging from highest record temperatures in cities to mega wildfires in the amazon. Heat is melting ice glaciers, contributing to floods and rising sea levels.
Transportation is one of the largest carbon-emitting sectors and it is difficult to meet the carbon reduction goals without a significant improvement in the change from Internal Combustion Engine (ICE) vehicles to Electric Vehicles (EVs). EVs are capable of reducing transport related emissions. However, the problem is that EVs on their own haven’t convinced consumers to make the switch and there is a role for policy makers to play.
This study seeks to provide recommendations to support policy makers to come up with measures that if adopted, could increase EV uptake in Singapore. A survey questionnaire has been conducted to discover and understand the factors which affects EV buying decision in Singapore in addition to literature review from past studies.
The main concerns of Singapore car drivers of EVs are that they are too expensive, lack of availability of public charging stations and long charging duration. An experimental component in the survey found that providing information on EVs could increase willingness to purchase an EV.
Analysis from other countries shows that successful governmental policies includes first and foremost, financial incentives to make the prices of EVs as competitive as similar ICE models. Other soft incentives were also implemented which acts as a complement at a later stage of adoption.
Recommendations for policy makers includes actions under the following: National goals/legislation/infrastructure, sales support and availability and quality of information which Singapore policy makers can consider to move towards a renewable and sustainable future.
Country risk affects cross-border investments significantly. Therefore, this paper aims to understand the concept of country risk and the available country risk assessments (models), by comparing and evaluating them. Secondly, the effectiveness of these assessments in predicting an economic downturn will be analysed. Lastly, this paper investigates the determinants behind the country risk models, using country credit ratings as a proxy.
The effectiveness analysis is based on the comparison of the credit ratings with the respective real GDP growth of Malaysia, Mexico, Japan and Portugal in a case study approach. Thereafter, Spearman’s rank order correlation coefficient analysis will be performed to investigate the determinants of the country risk models.
Results from the case study approach show that country risk assessments generally could not predict an impending economic slowdown. In addition, the correlation coefficient analysis illustrates that some variables have in general weak correlations to the credit ratings. For instance, the real GDP growth has mostly weak relationships with the ratings and tends to be statistically insignificant. On the other hand, lending and deposit interest rates have relatively strong correlations to the credit ratings and are significant at 0.01 level for some of the ratings. In addition, Mexico and Japan have the tendency to produce opposite results with the same set of indicators.
Even though investors should not rely on these country risk assessments to forecast a major crisis, the models could act as the basis of risk management. This is because these assessments do provide investors with some useful information.
Surge pricing is a dynamic pricing strategy which has been developed by the American ride-sharing platform Uber. Based on demand and supply, the surge pricing algorithm calculates a trip fare for both, riders and drivers. In times when demand outstrips supply in a certain geographic area, the algorithm applies a so-called “surge factor” which is multiplied by the basic trip fare. This way, the provider can calibrate demand and supply until they reach the market equilibrium again. This paper examines whether dynamic surge pricing can also be applied to the offline food retail market. Consequently, it starts by giving some theoretical background on dynamic and surge pricing, and with the aid of a PESTEL analysis, highlights all the factors presenting opportunities and limitations for the implementation of surge pricing in supermarkets. In addition to that, by conducting a SWOT analysis of dynamic surge pricing, this thesis investigates what the prerequisites are to a successful implementation strategy. In the end, it outlines possible consequences for consumers if surge pricing is used in grocery stores. It will be found that, from a theoretic point of view, a dynamic surge pricing strategy is feasible in the offline food retail market. However, it does not present the optimal pricing method for neither of the market participants.
With the fourth industrial revolution, advanced technological products play a key role in the development of all countries around the world. In recent years, there has been a drastic increase in the demand for high-tech merchandises in ASEAN nations. The purpose of this thesis is to identify the trends, opportunities and challenges that German high-tech producers may come across when they want to enter ASEAN markets. In addition to that recommendations on some strategies that could be used by German enterprise (SMEs) to ease entry into this market shall be discussed. The research analysis secondary data from TrendEconomy to determine the trade trends of German high-tech goods in ASEAN area, and then to implement SWOT and five Porter’s force analysis to identify the potential ASEAN markets. The result of this research is that Vietnam is seen as an attractive market for German high-tech products such as aerospace, computer-office machine, pharmaceuticals, scientific instruments and chemistry. Furthermore, Philippines is a potential place for German computer-office machine and electronics-telecommunications, Singapore is a good destination for scientific instruments and armament. In addition to that, Thailand and Malaysia are ideal nations for pharmaceuticals and machinery, respectively.
Transforming a face-to-face (F2F) medical congress into a virtual experience without losing the added value of the offline event is the challenge many associations and event organizers face in 2020.
Background: The unexpected COVID-19 outbreak has made face-to-face congresses impossible in Q2 of 2020. In order to continue medical education, virtual congresses are organized.
Objectives: The aim of this thesis is to determine the advantages of a virtual congress format and illustrate a way to effectively organize a virtual congress. Moreover, the thesis aims to analyze the performance of the digital experience platform (DXP) created by MCI the Netherlands, taking into consideration different stakeholders’ needs and its future opportunities.
Methods: This bachelor thesis is based on the available literature as well as data from the company MCI the Netherlands and quality interviews were conducted with
10 industry experts.
Results: The digital experience platform can increase registration numbers and share the content with more people worldwide like never before. With the easy accessibility, the DXP offers the possibility to increase audience reach. By offering a long-term learning opportunity the platform enhances the user experience of the delegates. Valuable data insight can be retrieved through the platform and shared with various stakeholders. Evaluating the advantages of virtual congresses, it can be said that virtual congresses will be the future of the event industry, however they will not replace face-to-face congresses but can be seen as an additional learning possibility.
Conclusion: With the digital experience platform MCI the Netherlands was able to successfully transform their internal digital capabilities into a future-proof innovative client solution. MCI is the first company in the European market who offered a virtual experience for more than 10.000 participants and strengthened their position as one of the market leaders.
Employee engagement is crucial for companies because of its positive influence on performance, retention, and profitability. However, the rising appearance of hybrid workplaces and generational changes have presented challenges in maintaining employee engagement. Leadership has been shown to play an important role in developing engaged employees. This paper examines the relationship between transformational leadership and employee engagement and whether gender, presented as male, diverse and female, impacts this relationship.
A sample of 118 respondents, that have worked for over one year under a leader, has been analyzed through simple and multiple regressions. The relationship between transformational leadership and employee engagement proved significantly positive, highlighting the key role leadership plays when fostering engaged employees. However, the moderating relationship of all three genders was not significant. These results suggest that companies should focus on training transformational leaders and engaging employees regardless of the employee's gender.
The thesis introduces a case study research presenting the transfer pricing problem of a selected MNE. Hereby, the researcher derives an appropriate method for the case and concludes with a comparison of theory and practice. The theoretical part of the thesis evaluates existing transfer pricing methods as explained by the OECD, Germany and the USA. The second part is about the choice of the research methodology, case study research and expert interview.
The third part first introduces the case study, analyzes a theoretical framework of the transfer pricing process and evaluates the existing transfer pricing methods, which allows for the derivation of the most appropriate transfer pricing method for the case. The fourth part concludes the research by applying the derived transfer pricing method, the Cost Plus Method, to the particular case study. By combining theoretical and practical approaches, a solution to the problem is determined.
Over the past years, operating conditions of German retail banks have been significantly altered by increased regulation, digitalization and new competitors. Consequently, numerous market participants have begun supplementing or replacing traditional processes with technology-based ones. Wüstenrot Bank AG Pfandbriefbank (WBP), a midsize financial corporation located in Ludwigsburg, Germany, is a primary example for this development. Notwithstanding all reforms, WBP suspects that many of its online products are unprofitable, yet has been unable to perform accurate measurements. Research shows that this is by far no exception and that in spite of digitalization’s proven impact in other industries there are very few empirical studies comparing traditional and technology-based processes in retail banking. This paper aims at filling this gap by determining the present efficiency of technology-based processes at WBP and their potential for aiding optimizations in the field. The paper uses process costing for evaluating present profitability, a methodology proven in manufacturing and other service industries yet relatively new to banking, and thus also sets a methodological recedent. For this method processes are first modeled using the ARIS concept of Scheer (1990); following Cooper and Kaplan (1988) and Horváth and Mayer (1995) costs are then determined for individual process steps based on their resource consumption and finally aggregated into the entire process. In a second step the present
situation serves as basis for simulating hypothetical scenarios used for assessing the effectiveness and impact of technology on further optimizations.
The research finds that in the case of daily money, a typical online product, neither WBP’s traditional nor its technology-based processes are profitable in the first year after account generation. In fact, losses are so extensive it is likely the product is generally unprofitable. In addition, the analysis finds that, contrary to the initial hypothesis, technology-based processes are even less efficient than traditional ones. Through subsequent simulations it becomes clear, however, that rather than digitalization all together, it is the insufficient degree of use of technology that causes costs to be so high. Therefore, optimization potential is much higher for technology-based than for traditional processes. Consequently, the paper recommends further increasing the use of digital technologies and finds process costing to be the ideal tool for capturing the best of digitalization both within WBP and in the industry.
Fast and flexible – today's two most desired traits within the business environment. The quickly rising technological advancement makes it difficult for organizations to keep up with their productivity. Owing to the digitalization, organizations have to rethink their structures and processes to be able to adjust to the constantly changing environment and ultimately continue to stay a successful force. A “one-size-fits-all” solution does not exist, which makes the initiatives time-consuming and difficult.
Since digitalization comes with major challenges that have to be tackled to decrease the gap in potential business productivity, the first objective of this paper is to identify relevant action points for organizations, together with the examination of the best practice of agility and its structural and cultural traits.
Further, this work aims to comprehend the structural and cultural traits of the case of [company name]. This is approached by a mixed method empirical analysis. First, by qualitative in-depth interviews with the first and second level managers based on the preceding theoretical framework of Spiral Dynamics and a concept of organizational culture analysis. Second, by a quantitative online survey with the remaining workforce based on the model of Competing Values Framework, assessing not only the current but also the by the workforce desired structural and cultural traits.
The model of Spiral Dynamics defines differing predominant core value systems of mankind, whereas challenges that cannot be accomplished with current behaviors initiate the evolution to another core value system – just like digitalization does with the case of [company name]. The Competing Values Framework is a scientifically justified concept to analyze organizational culture.
The last objective of this paper is to develop a set of tailored recommendations towards agile work approaches for the case of [company name] based on the preceding analysis and the theoretical framework of a scientifically justified change management process.
The conducted research reveals that the organization’s culture mainly shows traits of a traditional organization, with top-down decision-making and task assignments, selective transparency, silo-communication and a lack of interdisciplinary collaboration, which results in the predominant core value system of Success. Additionally, the analysis of the desired traits reveals a congruency with agile organizational traits, or in other words, the predominant value system of Synergy. With respect to the results, the study makes seven recommendations, incorporating the theory of a successful change initiative. Together with specified action examples, the way towards the desired predominant value system is paved.
Total Hip Arthroplasty is a highly effective procedure. Precise preoperative planning is crucial for a positive patient outcome. One approach to improve patient outcomes is preoperative planning of hip implants, which could replace the currently dominant 2D planning and improve processes in dealer markets by enabling more efficient delivery. The objective of this study is to survey and measure dealers’ acceptance of a patient-specific delivery and operating room setting. The evaluation is based on the Technology Acceptance Model. A recommendation for action will be derived from the evaluation.
This study examines the acceptance of new technologies through a systematic literature review utilizing the Technology Acceptance Model. Additionally, it presents the current state of 2D and 3D planning for hip implants and analyzes the Italian and Brazilian dealer markets. The target group was surveyed quantitatively, and their acceptance was analyzed and interpreted using descriptive statistical evaluation.
The two markets share similarities in their current requirements and conditions. In Italy and Brazil, planning is done intraoperatively by surgeons, which has been identified as an obstacle on several occasions. Acceptance of the new process is therefore mixed and requires supportive measures.
The similarities between the two markets allow for uniform comparability and interpretation. However, the acceptance can be traced back to the lack of preoperative planning among surgeons. It is clear that both markets are rather critical of a switch to preoperative planning, especially 3D planning. Therefore, some measures and further research on surgeons must first be taken before a successful implementation is possible.
The aim of this research is to analysis the economics situations in China, especially in Tianjin TEDA and Shanghai those two special economic areas in China, to see what kind of opportunities they may bring to the mid-size European companies which would like to have business in these two regions, and also to see what kind of disadvantages that are not befit for having business in those two areas. The research has analysis the economic situations in China to show the overall national economic status and situations in the in the recent years.
Tianjin and Shanghai are different with each other in the economic style; some statistics has shown the differences of economic characteristics in Tianjin and Shanghai. Companies in different industry areas have been classified both in Tianjin and Shanghai.
The study attempts to analyze the short-term effects of merger and acquisition bids of German acquirers on the stock prices of two involved companies. On the announcement day, a statistically significant average abnormal return of 11.5% is found for the target firms compared to an insignificant negative abnormal return of -0.28% for bidding firms, and the synergistic gain for involved firms is 5.72% on average. The strategy of specialization or diversification shows strong evidence that it has a large impact on the short-term stock returns with specialization triggering stronger abnormal returns than diversification bids for bidding firms and substantially smaller price reaction for target firms. The outcome also suggests that higher target cash-to-market-value ratio leads to significantly lower abnormal returns for target firms during the announcement period.
The growth of Islamic banking is evident from its presence in over 60 countries and the establishment of Islamic branches by major conventional banks. Despite its small share in global financial assets, there is extensive literature examining the performance of Islamic banks. Some researchers claim that Islamic finance is imitating conventional banks and it has therefore become necessary to understand the business model of Islamic banks. This bachelor thesis reviews theoretical and empirical literature to identify differences between Islamic and conventional banks. The objective is to examine the stability of Islamic banking by comparing performance indicators on capitalization, stability, profitability and efficiency. The results indicate that competitive pressure leads Islamic banks to deviate from their principles which promote profit and loss sharing (PLS). The preference for PLS lies within the fact that profit is earned on actual performance. Deposits in Islamic banking may also be structured according to PLS and it is observed that Islamic banks distribute profits even if they earned a loss to prevent withdrawal. Although Islamic banks tend to be better capitalized and more profitable than conventional banks, the data on their stability and liquidity are inconclusive. Data gathered on efficiency indicate that Islamic banks are more profit efficient while conventional banks are more cost efficient. Islamic banks seem to spend more on remuneration and training which positively impacts managerial competence. The limitation of this paper is that the reviewed empirical studies are based on different sample sets. In addition, Islamic banks might not pursue the same practice everywhere as Shariah law is based on interpretation. This leads to differences in what is considered Shariah-compliant and therefore reduces the comparison’s reliability.
The world is in a trend of urbanization, which leads to population surges in the major cities. The consequences are an increase in pollution and traffic congestion. With the rise of the sharing economy, bike sharing systems are a possible solution to the urban traffic problem, which at the same time is a sustainable “green” way of transportation. This trend is especially visible in China where the combination of bike sharing and the Internet of things has resulted in a new form of bike sharing: the free-floating bike sharing system. This paper seeks to analyse the new model, the underlying market conditions of China and Germany affecting the system and eventually tries to evaluate the chances and limitations of the FFBSS in the German market, considering the differences in the market and the opinions of expats who experienced the system first hand in China. This paper focuses on the two major operators of the free-floating bike sharing system, Mobike and Ofo bike, who have split most of the Chinese market between them, kicking out most of its competitors.
The European Monetary Union is a unique monetary system that exists for nineteen years now. An ongoing discussion about the workings and the role of the European Monetary Union is being conducted by researchers, who come to various conclusions. The current crisis made it clear that the current construction is not ideal, and there is a certain room for improvement.
This thesis introduces an in-depth analysis of the current role and workings of European Monetary Union, as well as a potential consideration of the benefits and risks connected to a potential entry of Hungary into the Eurozone. The literature review discusses the inner working of the unique case of the EMU, which is a monetary union, without budgetary union obligations for its member states. The literature review highlights the general benefits and risks connected to the membership in a monetary union, as well as mentions the unique benefits and risks connected to a membership in EMU.
The second part is dealing with the research methodology; macroeconomic indicators of Lithuania, Slovakia, Germany and Italy are being examined and analyzed, in order to determine the degree of influence EMU is having on the chosen macroeconomic indicators and outliers. A summary of the knowledge from the literature review is being applied for the subsequent analysis.
The third part first introduces the macroeconomic situation of Hungary, analyses the development of such factors and contemplates the compliance with the Maastricht Convergence Criteria, which need to be fulfilled in order to become part of EMU.
The fourth part of the thesis concludes the research by combining the knowledge from the literature review and knowledge gained from the country analysis. A conclusion about the potential risks and benefits of EMU entry by Hungary is being drawn.
The goal of this bachelor thesis is to investigate the role of self-disclosure in a Thai-German team. In-depth interviews with Thai employees and former German interns of a German automotive supplier based in Bangkok were conducted. To link the phenomenon of self-disclosure with intercultural management, German and Thai culture standards represent the base to discuss tendencies in the behavior of Germans and Thais.
The results demonstrate that general topics predominated over private subjects at the early stage of the relationship between the interviewees and their team members. Throughout the relationship, topical depth and breadth increased although the share
of positive topics outweighed. Both the Thais and Germans displayed a great willingness to share general and personal aspects which has led to the deepening of the relationship and the building of trust. The in-group/out-group effect was recognized as the interviewees preferred an in-group recipient for specific issues to be talked about.
Communicating in English did not significantly impact the amount of information revealed. The study emphasizes the role of self-disclosure for initiating, sustaining and enhancing a relationship between Thai and German co-workers.
Over the past few decades, global economic circumstances lead to difficulties when attracting, retaining, and motivating staff. In these dynamic markets, HR departments are struggling with how to navigate among new techniques and generations. However, in recent years neuromarketing has gained popularity among managers due to resourceful insights applicable to various business areas. Drawing on an investigation, this study examines how the implications gained from neuromarketing can be used to conduct an employer branding strategy and if neuromarketing methods can be a useful tool for the HR department. Analyzing distinct advantages of neuroscience by applying techniques that allow examining essential elements of the employer branding, leads to the detection of challenges and limits within the employer branding management and suggest a new perspective. Considering the literature gap, the methodology to assess whether there are implications of neuromarketing on employer branding will be derived from product branding. This study will first investigate the comparability of product and employer branding and then examine the extent to which neuromarketing methods can complement supplant the employer branding strategies. Finally, the results show the moderate relevance of neuromarketing on employer branding.
Sales promotional tools are of significant importance in attracting potential customers and retaining current customers. We can already have access to many studies in examining and comparing the causes and effects that different sales promotional strategies could bring to various aspects, such as, sales, brand name and brand loyalty. Several researches have also explained the irrational buying decisions and behaviors consumers have when they are given framed promotional message. Researches have shown that, in many cases, consumers tend to go for a free offer (bonus pack) instead of a discount offer although the economic value is equal. It is also shown by previous studies from students of Hochschule Furtwangen University have concluded that in Germany, for non-durable goods, consumer’s willingness to pay is higher with BOGOF offer then that of discount’s. They have also conclude that the effects that promotional tools could bring are long term by designing the survey with situation that the promotion has expired. It is known that BOGOF is preferred over discount, but how good is BOGOF compared to when there is no promotion given? And are there any changes in consumer’s perception towards product’s quality with different promotion applied? This study will be focusing on two promotional strategies: discount and BOGOF in the non-durable goods industry in Europe and in China. There will be a Baseline Test and an A/B survey. A total of 1061 participants were randomly selected to participate in an online survey. The questions of the Baseline Test are under a situation with no promotion, while A survey’s questions are under a situation of ended discount and B surveys are under a finished BOGOF offer. The survey results indicated that, both in Europe and China, the willingness to pay for non-durable products in BOGOF offer is higher than that of the discounts, while the baselines are close with the result of discounts. This study has the potential to contribute to academics and marketers in the non-durable goods industry as it consolidates previous findings and provides insights of the relationship between baseline and promotional tools.
Employers must have the necessary tools to engage in the fight for talent, which is growing increasingly competitive. The rising competitiveness of the recruiting industry today has further driven the development of the recruitment process, resulting in the introduction of artificial intelligence (AI) techniques.
In this thesis, a literature review of current applications of AI in recruitment is conducted to better understand AI’s present strengths and limitations as well as its future potential.
In particular, this thesis attempts to clarify, from a recruitment strategy perspective, how AI can be used to improve recruitment and facilitate recruiters’ daily work, with a focus on which guidelines should be in place to achieve these goals.
The results reveal a significant gap between the promise and current reality of AI applications in human resources. However, with a few adjustments and cautious implementation, AI can indeed provide recruiters with promising solutions primarily by taking over tasks such as sourcing, screening and possibly even interviewing applicants through video screening. This has the potential to improve the quality of hiring and eliminate bias in recruitment. The thesis also finds that, at present, a fully automated process without any supervision from recruiters is unrealistic, at least in the final stages of the decision-making process, due to the ongoing and crucial need for a human touch and the currently foreseen negative cultural reaction to AI in its present limited form.
The practical applications of the PMBOK Guide for the events industry - an analysis and case study
(2018)
The goal of this thesis is the investigation and analysis of the PMBOK Guide for its feasibility in the development, planning and executing processes of events and the implications of its employment on the overall project success. The analysis includes findings on which guidelines are most applicable, which require modifications, and which are not or only limited useful for event planning. The different processes and their usefulness in the events context are outlined and recommendations for their use are made. For illustration purposes a case study based on a trade show launch was developed and appropriate guidelines were applied, resulting in specific recommendations to the project team. Additionally, key performance indicators and other success measurements were developed in the course of this work. Since events need to pivot and are set in an agile environment, it is challenging to apply a waterfall method such as the PMBOK Guide to the project procedures making it advisable to ultimately employ a hybrid or selective approach. The results of this research can enable project managers in the events industry to more easily apply a waterfall methodology as a whole or in parts to their projects and provides a variety of indicators and measurements for performance evaluation.
Low organizational commitment of employees is a well-known challenge for organizations nowadays. In order to actively manage and promote organizational commitment, organizations need to be aware of its most important influencing factors. This thesis focuses on the exploration of the potential of human resource development to improve employee commitment. An empirical study has been conducted at the shop floor area of the project partner thyssenkrupp Aufzugsweke GmbH in order to investigate the negative influences on organizational commitment, identify the potential positive impacts of human resources development practices and provide the organization with a recommendation about suitable measures to retain and develop organizational commitment.
The following bachelor thesis was written in cooperation with the company GF Automotive AG located in Schaffhausen, Switzerland. It is a worldwide recognized development and serial production partner of the automotive industry. The thesis covers the topic ‘The potential of gaining competitive advantage through Green Marketing’. The purpose of this thesis is to research if sustainability within the automotive supply industry is of high importance and can be used to gain competitive advantage. The thesis offers possible measures to implement successful practices that were detected in the conducted benchmark. It points out that green marketing in the B2B business can support companies to differentiate and it illustrates how marketing communication of the company GF Automotive AG can be adapted in order to succeed and remain leader in the highly competitive automotive supply market
Digitalisation has great impact on employee-employer relationships. With Web 2.0 modern features like flexibility and mobility influence the organisational structure. Crowdsourcing is a new form of remote employment which will be analysed in this work. This system consists of several anonymous freelancers taking part in task collaboration via the internet. It is a process of connecting with a large group of unknown people in order to find solutions for a certain problem. This phenomenon describes several possibilities and challenges for Human Resources Management.
Based on the main literature two hypotheses were stated: The first one assumed that this certain success is dependent on participation and the second hypothesis proposes the dependence of the digital community itself. This bachelor thesis tries to investigate the influential factors contributing to a successful crowdsourcing initiative in the context of HR. The essence of this lies in motivational aspects therefore first crucial features were determined that lead to and result from motivation. Next, desirable characteristics of the crowd itself were identified such as diversity and autonomy. This all was concluded with the assumption that HR’s responsibility is developing novel possible practices in order to cope with the new challenges crowdsourcing presents. How those mentioned processes and suggestions might be put into practice maintains a suspect matter which requires more investigation in the future.
Fast Fashion industry is a great example of a market with similar products and similar target groups of customers where marketing plays a key role in the competition for market share. In the era of Web 2.0. and Social Media boom businesses are facing a rise in customers’ forces and its pressure by influencing corporate communications and marketing campaigns. Ordinary people turn to influentials who reach broad consumer audiences and often have an impact on the decision-making-processes. In this way, brands are less protected by PR and advertising tools, as well as more vulnerable. Therefore, understanding the current communication environment and in particular how, when, where and who interferes with corporate image is important from managerial point of view and what strategy to be deployed. For these reasons, the thesis focuses on multichannel marketing in order to provide an understanding of how businesses have been connecting to
people and then it continues with exploration of social media and the blogosphere as ways consumers have been complicating and influencing channels. In the end, it has been concluded that Social Media and the phenomenon of Blogosphere has led to the appearance of new self-made opinion leaders who tend to influence consumer behavior and respectively company’s reputation and brands’ image. On the other hand, it has been observed this can be positive for businesses since it provides relatively useful market information which could be helpful for marketing and communications managers by enabling them to observe their target groups in a more efficient ways. In the pursue of findings, the thesis includes primary research with two interviews with a bloggers and a fashion brand affiliate person, and secondary research covering literature review on relevant topics.
Background
The recent worldwide financial crisis that occurred in last quarters of 2007 up until mid 2009 was accompanied by the massive failure of many financial institutions and liquidity providers. Investment banks and other institutionalized financial investors were unsuccessful in producing any real returns for their clients. This drastic fail in all the other traditional investments led to the questioning of how well the hedge fund industry performed in this light based on their promise as absolute return producers regardless of the market environment. This paper seeks to analyse the performance of the Long/Short Equity Strategy in particular relative to the performance of the overall market.
Methods
Thorough examination and validation of numerous empirical studies which have already been carried out on the subject matter are brought to light through the analysis of available historical data of the returns posted by these funds during the crisis using generally accepted statistical funds’ assessment tools giving an adequate angel to the performance of Long-Short Equity hedge Funds especially at the heart of the financial crisis in the last quarters of 2007 to mid 2009.
Results
Equity Long/Short Hedge funds as every other strategy in they industry succeeded in 2008 in outperforming other traditional investment vehicles and the broad stock an bond markets although the failed in to produce the absolute returns promised to their investments. In 2009 they posted similar results to that of S&P 500 index with subsequent declines in 2010 and 2011 thus failing to period their returns where highly correlated with that of the overall market coined with negative skewness and high kutorsis.
Conclusion
Even though hedge funds succeeded in outperforming the market in the heart of the crisis, they failed to provides their investors with absolute returns and also the benefits which the provide in terms of diversification to reduce the exposure of their funds to market risk was limiting. The very high fees paid to them by investors was not justified by their performance.
Network Marketing is a form of the direct selling retail channel of distribution and is one of the fastest growing industries worldwide. It has dramatically changed the way traditional businesses operates by mainly focusing on the success of his partners, their sales representatives to market their quality products provided. This industry produces billions of sales annually; however the lack of studies and information available on this field has led to lack of understanding and attack of being pyramid schemes. In this new era of technology, this profession continues to thrive as many people in particular women are looking for alternatives to the traditional corporate lifestyle. Furthermore, it has been found that becoming independent business owners in Network Marketing attracts the majority of women. Therefore, analyzing the characteristics of Network Marketing and the strategies deployed for their success is important to understand the reasons why women are willing to change their career path.
For these reasons, the thesis focuses on Network Marketing in order to provide an understanding of its rapid growth with an overview of its different phases from the beginning to the effect of the evolution of the Web 2.0 and social media. It goes forwards by investigating the characteristics of Network Marketing which appeal to women; by first examining their actual situation in the workplace in order to perceive their choice for leaving everything behind to start anew. Finally, a case study provides actual visibility and the new lifestyle of women being active in Network Marketing.
In the pursue of findings, the thesis includes primary research by conducting interviews with German and international independent network marketers, all women, and secondary research covering literature review on relevant topic.
In the end, it has been concluded and proved, despite the constant allegations, that Network Marketing is a serious and effective business model which benefits the company, the customers and the independent distributors. Moreover, it has been observed that this field fulfills the expectations of those women who want to escape from the challenges faced in the corporate world and desire an industry without barriers, as a result them being the majority and successful in this field.
Zoom fatigue - a phenomenon that has been occurring during the COVID-19 pandemic. Social distancing regulations forced numerous companies into home office, which shifted the internal communication to video conferencing platforms. Nevertheless, these solutions do not offer the same interactive atmosphere and social factor as face-to-face meetings. That is the reason why some people experienced a sense of distance and a lack of motivation and concentration.
Virtual reality collaboration platforms are a digital solution resembling a serious game situation that could solve the problem of impersonal teamwork. With this application users could meet in the virtual space, giving them enhanced possibilities to interact with their team members and work together on projects regardless of the distances in location.
As the platform is an innovation that is new to the market, the awareness about this product is not yet widely spread. With the help of an effective marketing mix and a market launch strategy, potential users should therefore be informed about this possibility, leading to a successful implementation of the platform in various institutions. To gain insights into the market and gather information about the target group an analysis through literature research as well as a survey has been carried out. The results showed that the market shows a general interest in virtual reality collaboration platforms. Nevertheless, several respondents expressed their lack of understanding and imagination to use the platform constructively in their professional environment. Additionally, expected high expenses and the lack of technical equipment could be an obstacle to implementing virtual reality collaboration platforms in traditional work processes. Therefore, the mission for the market launch strategy will be to develop a marketing mix that responds effectively to all questions and inspires organisations to discover their possibilities and benefits with this digital solution.
A shortage of skilled workers is a problem which many organizations face when expanding their plants abroad. In Germany, for many organizations it is comparatively easy to prevent this problem by constantly training their own employees in the apprenticeship system but in their plants abroad this option is commonly not available. The only way to achieve the same option abroad is to implement the apprenticeship program in the plants independently. That bears many challenges but also many opportunities. This thesis focuses on the implementation of the apprenticeship in Mexico and seeks to examine the main challenges which arise before, during and after the implementation. After the examination of these and explaining their root cause, various solution approaches are analyzed and recommended based on the case of IMS Gear SE & Co. KGaA.
The study investigated what is the generalist education in nursing, how Keppler-Stiftung Haus Raphael, Senior Citizens’ Centre will start the implementation of this training and how people can be well informed using social media to convince them for a career path in nursing. The study examined if the use of social media will increase the turnout of people for this education. This thesis also researched, if the use of this promotional medium can help change people’s negative impression about old people’s home, especially for its funny smells and that, senior citizens are not well taken care of there as expected. From the starting theoretical background consisting generalist education in nursing and the trends of social media were discussed in details. Based on the theoretical issued examined, the empirical research is established, collecting data from staff of old people’s homes in five provinces in Baden-Württemberg, Germany. Correlational analysis was used to test the sample on the two hypotheses. The positive correlation between social media campaign and the turnout for the generalist education in nursing was identified. The alternative hypothesis was supported because there was a significant relationship of independent variables to turnout of youths for generalist education in nursing
The influence of quality labels on perceived product value - Marketing to the conscious consumer
(2018)
Quality labels are an important cue for customers in their search for indications of product quality. They provide consumers with valuable information about production standards. Whether the value-added by labels directly translates into price premiums is still an open question, as researchers could not reach consensus so far. Moreover, the use of multiple labels on one product is another topic discussed controversially in the research literature. Current research has further identified multiple factors affecting consumers’ willingness to pay for labelled food products. For this paper, a survey among 400 shoppers from the Villingen-Schwenningen area has been conducted, in an attempt to identify the significance of various influencing factors on willingness to pay for labelled products. Four distinct food products have been tested in this survey, each in four different labelling situations. Two labels were used on the products, one indicating social standards and another certifying ecological production standards. The study identified the following factors as influential on participants’ expressed willingness to pay: product type, information and label type. The influence of missing reference prices could not be proven to be significant. The marginal effect of a second label was found to decrease for only two of the products. As the effects of each of the factors varied between the products, no general conclusion about the effects of either of them could be drawn. Therefore, the paper concludes on the note, that a general assumption about label value should not be made.
In two experiments, this empirical research examines consumers’ willingness to pay and the likelihood of purchase decisions by thoroughly investigating the neural, behavioral, and psychological properties of packaging design. A general theory is tested by functional magnetic resonance imaging (fMRI) and a NeuroPricing online survey on consumer behavior using the example product Tassimo. Hypotheses are tested with 592 German consumers who evaluated the packaging of Tassimo coffee. A closer look at the neural data from the brain imaging experiment shows that uncertainty can arise among consumers with regard to sustainable packaging and this can have a negative impact on the purchase decision and willingness to pay. The results from both experiments show that it is not possible to make a holistic statement as to which sustainable or enjoyment-focused packaging design increases the likelihood of a purchase decision or the willingness to pay. Implications for future packaging design research and underlying complexities with sustainable packaging are discussed.
The Influence of Macroeconomic Indicators Towards Sovereign Credit Rating and Sovereign Bond Spread
(2017)
The main purpose of this thesis is to investigate and to identify the macroeconomic indicators, as the determinants that could impact the sovereign risk. The sovereign risk here is represented by sovereign credit rating and sovereign bond spread. The world economy nowadays has become more globalized. It is becoming essential for all stakeholders in the global economy to become aware of the economic and the financial situation of a country. Sovereign risk interestingly represents not only the economic and financial situation of a country, but also the ability of a country to meet its financial obligation. This indicator plays an important role in attracting capital inflow and investment in a country. By using panel-data
framework, the estimations were built and analyzed to investigate the impact and the influence of the macroeconomic indicators towards the sovereign risk. The sample data of the research consists of 9 macroeconomic indicators as the explanatory variables, each of them includes 50 countries and 10 years of time period. Two separate panel data estimations with fixed effects model were created for each of the dependent variable, sovereign credit rating and sovereign bond spread. The results indicated that central bank rate, government debt level, total government reserves and unemployment rate have significant effects on the sovereign credit rating. Moreover, the results also indicated that current account balance, GDP growth rate, government debt level and unemployment rate have significant influence on sovereign bond spread. As both estimation share 3 significant explanatory variables, this implies that they are closely related.
The aim of this thesis is to gain an understanding of why and how electronic word of mouth (eWOM) is influencing consumers buying decisions, and to furthermore describe the opportunities and limitations, which using electronic word of mouth on YouTube as marketing tool represent. This thesis is a compilation of the most important studies and finding conducted in this field. It discusses the concept of word of mouth and some dimensions in which eWOM differs from its traditional counterpart and describes the most important criteria related to the influence of eWOM on consumers buying behaviours. It provides an overview of relevant studies regarding the impact of eWOM on the buying behaviour and discusses YouTube as a marketing platform. Finally, it identifies opportunities and limitations based on the previous findings related to using eWOM on YouTube as part of the marketing mix. The findings suggest that eWOM differs from its traditional counterpart mainly due to its wide and fast spread and is therefore perceived as more influential. Its influence was furthermore found to depend on factors related to the eWOM valence, the product or service addressed, the eWOM source and sender, as well as the platform used. Further, using eWOM shared on YouTube as marketing tool was identified to offer companies the opportunity to reach a wide and also usually hard-to-reach audience, increase awareness, interest and influence on consumers buying behaviour. Limitations were identified to be the uncontrollable spread, the target audience, the constant availability and uncertain credibility, risking authenticity as well as the interdependent influence.
When enterprises decide to expand operations to new foreign markets, they are encountered with the crucial decision of how to implement their marketing strategy in each market without losing consistency across their global brand image. This thesis will focus especially on the impact culture has on this decision and on its implementation. To do so, a qualitative analysis in form of expert interviews was performed in six multinational companies across different industries. Marketing managers from the headquarters were questioned about the implementation of their global marketing strategy in their local markets. The findings give new insights for managers in terms of future adaptations for efficient communication of marketing strategy across the multinational company.
The two strategic options standardisation and adaptation are examined in the literature to set a foundation to later discuss culture’s influence on this decision. Furthermore, a cultural framework will be given and the communication structure of the two main parties of a multinational company will be reviewed in the existing literature.
This paper analyzes the importance of recommender systems for B2C e-Commerce businesses, using extensive literature review as well as a consumer survey. Readers will gain a basic understanding on how the technology behind the recommendation works, how competitiveness in e-Commerce can be defined and what the consumer perspective on recommender systems is. The paper will ultimately provide valuable insights into how recommender systems can create a major competitive advantage for online retailers and why an online-shop without a recommender engine will struggle to stay or become competitive.
Digital transformation and globalization have become so prominent in today's life, that companies have to innovate in order to stay on the markets continuously. Thousands of new digital solutions are developed and launched daily, making it hard for the big slow corporation to catch up. In order to gain a competitive advantage, many corporates opened up to external sources of innovation such as suppliers, consumers, and startups.
This research focuses on showing how corporates and startups can mutually benefit from collaboration and particularly in the DACH region of Germany, Austria, and Switzerland. To highlight the importance of the strategic partnership, the research also includes a short analysis of the main cultural differences between startups and corporates, an economic overview of the region and the characteristics of a collaboration between startups and corporates.
To investigate the topic, qualitative research based on published secondary data has been carried out.
In the last few years no other innovation has been able to influence the marketing environment like neuromarketing, the new science of consumer behaviour, which combines neuroscientific techniques with marketing in order to understand brain functions in terms of marketing activities. This combination helps to improve the understanding of the influence of emotions and senses on decision-making and buying-behaviour. The aim of this study is to investigate the potential and limitations of neuromarketing, by taking a close look into published data, conducted studies and expert opinions concerning this new field of science. The published data retrieved from studies using brain-imaging techniques found that emotions and human senses influence every second in human beings’ perception and that consumers are not able to decide completely economically. Nevertheless, further research is recommended in order to gain a deeper understanding of the human brain and how it conducts
decision-making processes. Additionally, consumer neuroscience has high potential to become a commonly used technique, which sustainably supports traditional
market research. Neuromarketing seems to become a promising technique to provide consumers with desired products, services, web shops and advertising
design.
For a long time, car sharing has been known as a niche market, not able to attract a significant number of people. The cause of this has not only been car sharing services being inflexible with their offers, but also the high societal value of owning a car. Today, car sharing is more flexible with its offers and enjoys a rising popularity within the Federal Republic of Germany. A steadily increasing number of citizens is registered with local car sharing providers. This trend represents one of the many sub-categories resulting from the sharing economy, which stands for community consumption. Instead of owning an object, the customer pursues the objective of temporary use. Using an online survey as well as expert interviews, this thesis investigates if car sharing has an impact on car ownership. In addition, this research aims to find out if and how the endowment effect, which describes the phenomenon of people valuing something higher that they own than something they do not own, impacts the connection between car sharing and car ownership. Results suggest that a low degree of psychological ownership potentially could lead to a higher tendency to select a car sharing vehicle over a private vehicle. Relevant factors, as suggested by research results, are price and convenience. This implies that the endowment effect and the related factors should be taken into consideration when trying to establish car sharing services and reach customer groups, which have not been reachable so far.
This thesis examines the impact of the war in Ukraine on grain supply and food security in MENA countries, specifically Tunisia and Yemen. The war has resulted in a significant disruption to the global grain market, with Ukraine being a major exporter of wheat and maize prior to the Russian invasion. The blockade of Ukrainian exports has led to rising food prices and increased food insecurity in developing and emerging nations, which rely
heavily on imported grain. The study focuses on analyzing the structure of grain exports from Ukraine, the responses of international organizations such as the World Food Programme, and the long-lasting effects of the conflict on the global food market. The findings of this study may contribute to understanding the dynamics of the grain market and inform policies that address global hunger and food security issues.
Influencer marketing has become one of the most popular marketing strategies in today’s ever changing digital scene. Despite being a popular technique of engaging customers, influencer marketing is still difficult for marketers and brands to understand the meaning behind of it and how to take advantage of influencer marketing. The research delves into the multifaceted landscape of influencer marketing. The research questions revolved around three key aspects of influencer marketing. Firstly, a profound exploration of influencer marketing was undertaken, delving into its evolution, benefits and underlying principles of influencer marketing was important to fully understand its dynamic role in modern marketing. Beyond this, an in-depth analysis scrutinized the impact of influencer marketing on consumer purchase behavior, peeling back layers to reveal the nuanced interplay of trust, and authenticity. To answer these questions a thorough analysis of influencer content and consumer interactions was done. To extract meaningful insights, to provide a holistic understanding of the symbiotic relationship between influencers and consumers. Trust emerged as a linchpin in the effectiveness of influencer marketing, profoundly influencing consumer perceptions and behaviors. Conclusively, the study highlights the indispensability of trust and authenticity in influencer marketing. Brands seeking success in influencer-driven consumer engagement must prioritize and harness these factors to navigate the complexities of contemporary marketing landscapes successfully.
Currently, inflation is rising again at a pace not observed since the decade of high inflation in the 1970s, and consumer sentiment is falling to record lows. This work seeks to understand the extent and potential differences of how inflation impacts consumer behavior in these two inflation periods. To this end, we employ an adaptive theory of consumer behavior using a variant of a stimuli-response model.
We analyze stimuli of behavioral changes along two dimensions. We describe consumers’ ability to buy by external factors and their willingness to buy by internal influences. Relevant quantities for each are determined, and their time series are investigated. We investigate responses to the stimuli in two categories. We assess adaptions in behavioral patterns by reviewing research studies and surveys. We analyze salient responses via times series.
The results of this work reveal that inflation does have a significant impact on consumer behavior. Many effects of inflation on consumer behavior are similar for both inflation periods. External and internal factors are needed to explain behavioral changes. This work also finds different responses for the two inflation periods, although internal influences are very similar. Qualitatively, we can explain these different responses by external factors that differ between the two time periods. For more quantitative conclusions, one would have to consider additional internal factors. Further longitudinal studies to identify internal stimuli and consumer responses would also be of great value.
This thesis explores the impact of culture and diversity on multicultural teams and the potential benefits of adopting a transcultural approach to enhance team collaboration and effectiveness. The study highlights that cultural differences can present challenges to team collaboration and communication, but a transcultural approach can promote appreciation and understanding of these differences, leading to stronger relationships and greater success in a global business environment.
Intercultural competences, such as an open mind and flexibility, are essential for overcoming challenges arising from cultural differences in teams, and experience and training are recommended to develop these competences. Effective diversity management and developing intercultural competences are essential to thrive in a multicultural environment. Transcultural learning provides a valuable framework for understanding cultural diversity and fostering mutual understanding and respect between cultures. Adopting a transcultural approach can create commonalities and value in terms of global unity and understanding, making it an essential component of international business in today's globalized society.
The changes between Taiwan and China since 1979 have closer both countries in many aspects. This study seeks for evidence proving the impact of cross-strait political events on Taiwan Stock Market. Major events from 1995 to 2017 are identified and examined with event study using market model and both parametric and non-parametric test. By defining 19 events into two groups- Good news and Bad news, the results present significant abnormal returns on event day [0] or after. This suggests that there is significant impact of cross-strait political events on Taiwan Stock Market. Moreover, due to the limited amount of events, this study can only weakly support that Taiwan Stock Market is semi-strong form.
In recent times, China’s role in the clothing industry has been threatened. China’s ability to compete on a cost basis is diminishing and urges the country to find a new means of competition. The aim of this study is to assess China’s future role in the industry with special regards to European apparel manufactures. This is done by taking a closer look at several factors that have an impact on the industry. The analysis of published data, conducted studies and expert opinions brought to light how the government is actively involved in the pursue of maintaining China’s leading role in the textile and clothing industries as these are important contributors to China’s economic well-being. Two strategies have been emphasized. Firstly, the upgrading of the industry as a means of differentiation that allows China’s clothing industry to compete on other factors than costs. Secondly, the boost of China’s domestic market in order to mitigate against the risk arising from the volatility of markets and increased need for speed in the industry. While China’s role is undoubtedly changing, it seems like the country has found opportunities to maintain an important position in the future of the clothing industry.
Artificial intelligence is a disruptive technology, offering increasingly more opportunities to companies. However, the low digital maturity of the private banking sector, makes it hard for private banks to take advantage of this opportunity. Simultaneously, customers are expecting more digital solutions, forcing companies to adapt their services.
The aim of this paper is to provide an overview, drawing conclusions about whether the implementation of AI technologies is profitable in the private banking sector.
This thesis is based on recent research about current possible applications and the respective benefits, risks and costs. Two use cases will be thoroughly analysed: the application of automated credit risk management systems and AI powered indexes. In the first case, the software NOLA 2.0 will be evaluated and used as a benchmark to highlight the positive and negative aspects deriving from AI credit risk management software. In the second case, the AI powered index AiPEXAR will be presented and compared to the most common ETF S&P 500, analysing the differences in their computation and their performance over time.
The analysis concluded that, even though the benefits substantially depend on the individual company, AI chatbots, customers' engagement, credit risk management software and banking apps are advantageous for private banks. Yet, the implementation of AI powered indexes may be precocious and therefore not yet profitable. It can also be concluded that for private banks, whose core competitive advantage lies in the expertise of the relationship managers, the digitalization of advisory may lead to unsatisfied customers.
Plastic packaging and its waste are known to have a negative impact on the environment and on human health. This study aims to determine effective government measures for the management of plastic packaging in Germany. Specifically, the effectiveness and acceptance of possible environmental incentive and restriction policies are analyzed based on the objectives of reduction, reuse, and recycling. Therefore, the policies of a plastic packaging tax, tax differentiation, bans, and concentration limits of chemical additives, as well as restrictions on packaging design, are investigated.
In order to examine the consumer acceptance of the policies, an online survey was conducted with 272 students. This study further contributed to the analysis of effectiveness as consumption effects were measured. Accordingly, the expected policy effectiveness was examined based on literature research and quantitative insights from the field study.
The results - which are only representative for German consumers with an academic background between 18 and 29 years of age - revealed that most respondents accepted the policies, although acceptance was higher for restriction policies than for incentives. Furthermore, problem awareness was found to slightly correlate with policy acceptance in most cases. In terms of expected policy effectiveness, several factors indicate effectiveness for all policies. However, multiple prerequisites for the achievement of policy effectiveness were identified, whereas the requirements for restrictions on chemical additives were most complex.
In a fast-paced change and development of the work environment, organizations are faced with the need to adapt efficient and proactively on a continuous basis. Correspondingly it is important for companies to readjust their tools, requirements and processes. Performance appraisal is not an exception. Moreover it is an important part of an organization’s performance management system that assures an integer alignment of the employees’ activities and performances with the company’s strategy and goals. It is a tool, which directly addresses companies’ most important and susceptible to change resources - it’s employees and strategy. Therefore the scope of this paper was to analyze whether the traditionally used performance appraisal system of the present, would work and fit under the challenges and changes of the future of work trends. First, the paper focuses on the analysis of the future of work environment. There are initially researched the forces that will influence future organizations and then the impact on organizations is described. The above mentioned were followed by the analysis of the currently perceived drawbacks of performance appraisal as from studies and researches done by experts in the domain. The analysis points out the most important features referred to as being of a tremendous impact on the success and result of the tool. These faults of the traditional approach would be then compared with the main trends determining future of work, and as a result of the study is the determination whether the tool would perform better in the future organizational setting or worse depending on how the criteria concluded as being most influential would co-work. In conclusion it was observed that performance appraisal as such would still be an important tool in the future organization as it’s commonly perceived scope would gain in importance. However, the approach and implementation would have to be drastically reconsidered. As most of it’s currently perceived drawbacks would be in an even more devastating conflict in the upcoming time of business and employment. It refers to it’s form, owner, customer and implantation, all of these would need an radical transformation.
The aim of this research is to investigate the impact of potential change in consumer behaviour on the carbon footprint in the beverage industry.
This research comprises two fundamental components. The first component establishes a scientific basis through an in-depth literature review by referring to the main concepts. The second component comprises a research study based on the hypothesis of whether consumers who engage in climate-neutral behaviours also demonstrate conscious beverage consumption. The findings of the literature review illustrate that the beverage industry contributes to high levels of emissions and global plastic pollution. Not only does this endanger marine and terrestrial ecosystems, but also humans. For example, through microplastics that enter organisms and contribute to illnesses. The results imply that the impact of human activities will influence environmental development. The nature of consumer behaviour is considered to be the key to society's impact on the environment. Findings obtained through the research study emphasise that environmental awareness exists among the respondents. Furthermore, it is indicated that a statistical relationship exists between climate neutral consumption patterns and conscious beverage consumption. By fundamentally changing the way beverages are consumed, emissions can be mitigated and consequently the goal of achieving climate neutrality in the beverage industry can be achieved. This furthermore contributes to the achievement of global climate neutrality and supports sustainable development.
The goal of this thesis is to provide information on how the music distribution has evolved throughout the years since the internet and computers have brought a
new digital ear to the music industry. This gave unlimited access to vast amount of information, creating new methods of communication and connecting to thousands of music lovers with only one mouse click. Technological and social changes have
followed ever since the beginning of the 20th century with significant impact on different business aspects like Marketing, Communication and Pricing. In the following years illegal downloading has brought the music industry to a crash with sales dropping
almost double in only one year. This, however, led to the idea of legal downloading and later in 2008 to the birth of the most used music streaming service Spotify. The bundle paying method of this new service has not only put the industry back on its feet
but it has also brought the interest in the consumers back. A monthly “flat rate” in exchange of a vast music catalogue of more than 30,000 songs, albums and artists with the ability to listen to it offline turned out to be the better alternative.
The purpose of this paper is to conduct an explorative research on the current situation of the music business and the business models of the new trend “music streaming” by using different analytical methods. The research results show a significant change in the way Marketing and Communication are being done by labels, brands and the streaming services due to the rapid technological progress and the new social habits born with it. Using the experience of listening to music, data and audience intelligence provided by the services, brands are now able to communicate their exact message in front of the right person and in the right time. Pricing of music has also gone through a big transition
since music streaming has become the preferred way of listening to and exploring new music. The effect of the bundles provides users with unlimited usage of the music streaming service and its catalogue in exchange of a monthly fee also called “flat rate”.
Each service decides on the price and the subscription method to be offered. To give a more comprehensive picture on what the future of music streaming
is, this paper is using not only secondary data but primary data as well. In order to generate free discussion, the study refers to the media and an expert to give answer on what are the signs pointing the direction the music business is headed towards.
In the context of the global climate crisis, socially responsible investing has gained momentum in the financial market. One of its objectives is the achievement of a positive environmental impact. Among the instruments used for this purpose are green bonds. These are fixed-income instruments whose proceeds may only be used for green activities. To this point, market-based standards aimed at establishing uniform definitions of what constitutes “green” have strongly contributed to the development of the green bond market. In order to further promote the issuance and credibility of green bonds and exploiting their financing potential, the European Commission has proposed the introduction of a European Green Bond Standard.
This thesis examines how an introduction of the European Green Bond Standard could impact the existing German green bond market and lead to more private investments in green projects in the future. To address this question, information from an extensive literature review as well as quantitative data from Refinitiv EIKON's Green Bond Guide was used.
For the German green bond market to grow, in particular an increased involvement of the private sector is essential. This thesis finds that the current draft of the European Green Bond Standard offers great potential in this respect. Through increased transparency and assurance, increased demand as well as associated reputational benefits and the possibility to use targeted policy incentives it has the potential to increase the attractiveness of green bond issuance for the private sector and thus induce more issuances. An extension of the grandfather clause, which is currently under discussion, could underpin this even further.
The employee referral program and the relation of extrinsic and intrinsic motivation to referrals
(2018)
The aim of this bachelor thesis is to give an overview of current practices in employee referral programs and to establish the link between motivation and propensity to refer on the basis of motivational theories in order to identify which methods a company can use to obtain the highest possible quality referrals from its employees. On the basis of relevant scientific literature, the employee referral program is described, related rewards explained and relevant motivational theories outlined. The factors of intrinsic, prosocial and extrinsic motivation, as well as the overjustification effect are evaluated, to understand their impact on an employee’s propensity to refer and to draw conclusions for practical implications.
Fort he past decades Microfinance Institutions (MFIs) in Cameroon and the world over has been growing. Despite the restructuring of the Cameroon Banking sector after the Bank crisis that erupted in the late 1980`s, MFIs in Cameroon continue to grow and offering financial products and services to the unbanked population not served by commercial banks. The main objective of this research is to critically examine and analyse the factors responsible for the growth of MFIs in Cameroon in comparable to commercial banks and a recommendation on what need to be done to improve on the financial sector of Cameroon. The research method is an explorative approach base on empirical literature review. The research will examine social and financial performance factors that have been responsible for the emerging growth of MFIs in other developing countries in Africa Asia, Latin America and apply them to MFIs in Cameroon in order to find out if these same factors can also be responsible for the emerging growth of MFIs in Cameroon. At the end of this research study it was revealed that social performance factors which includes total number of clients served that measured the breadth of outreach,the poverty level of the clients which measured the depth of outreach, the total number of branches and products and services which measured the scope of outreach has been responsible for the emerging growth of microfinance institutions in Cameroon.
Key words: performance factors, Microfinance institutions,Commercial banks, Cameroon
Marketing strategy remains a critical driver of customer satisfaction and competitiveness in the banking industry globally. Despite this, private and government banks in Germany are yet to attain required customer satisfaction levels. Studies on the relationship between service quality and customer satisfaction revealed both positive and negative results. The main purpose of this study was to analyse the effects of service quality on customer satisfaction in the German Banking sector. Deutsche bank offenbach am main branch was used as a case. The target population was 2000 customers; holders of either a savings account, current account or both. 120 questionnaires were administered using a non- probability sampling technique known as the convenience sampling. 100 out of the 120 questionnaires came back complete. Data was analyzed using SPSS version 25. The results revealed that service quality significantly contributed to customer satisfaction at (Adjusted R2 = 0.733, p<.05). It was concluded that service quality contributes to customer satisfaction. From the survey, other factors that influence customer satisfaction in the German banking sector include, account security, proximity, customer expectations and perceived valued of service quality, employee’s behavior and management. The study recommends a more emphasis on improving and maintaining high service quality levels translating to customer satisfaction. Therefore, the research provides a validated service quality model that can be used to clearly measure levels of service quality in relation to levels of customer satisfaction
Due to changes in the labour market, the share of atypical employment in Germany has risen substantially. This has implications on the old-age provision of the persons concerned, since the German pension framework has been primarily developed for persons under standard employment. The analysis shows that the statutory pension insurance discriminates against the self employed, since their entry into the system is only provided in an atypical manner. Marginally and part time employed often fail to accumulate entitlements and thus their risk of old-age poverty is high. Moreover, the quantitative assessment of the statutory pension framework unveils that independent retirement planning is in conflict with the statutory basic income provision as it undermines individual efforts. In the light of a changing work environment and the rise of the digital economy, future trends are posing challenge on the German system. Those require reforms, in order to ensure a higher accessibility of more flexible employment forms into the statutory pension insurance as well as other types of state-subsidised retirement plans.
Globalization brought high competition in the market. Therefore, international Marketers started to use a strategy of linking a product to its Country of Origin to get a potential competitive advantage on their product. Previous studies have found that the effect of Country-of-Origin on consumer´s product evaluation, perception and purchase intention. However, it was limited to find the County-Of-Origin effect on different age groups especially in Germany.
The purpose of this research was to analyze the effect of Country of Origin on German consumer´s product evaluation and different age groups. Projective test was adopted for designing the questionnaire and Italy, China and France were selected as the country. In the end, the data was represented by statistical analysis and graphic representation.
This research comes to the conclusion that the Country of Origin either has an impact or has no impact on German consumer´s product evaluation. Their evaluation showed various results based on country and product information such as Country image, Country of Manufacturer image, product category and brand. Therefore, this research was not able to define the general Country of Origin effect on German consumer´s product evaluation. However, this research will give an insight for designing a future research and a more comprehensive understanding of the Country of Origin effect on age groups.
Many employees use the internet for non-work related activities nowadays. This cyberslacking behaviour is put into connection with flexible work arrangements, in which the employee also completes work tasks outside of the workplace in a sort of balancing act between work and non-work. Many companies perceive cyberslacking to be deviant and counterproductive and battle it with internet monitoring systems. Other companies perceive cyberslacking to be beneficial for learning, creativity and productivity. This thesis will use Douglas McGregor’s ‘Theory X and Theory Y’ and the concepts of the Psychological Contract and Corporate Culture in order to understand the psychological background these of opposing opinions on cyberslacking and its effects on company and employee attitudes and behaviours following monitoring or acceptance of cyberslacking in a company. The results show a considerable fit to the three concepts presented in this thesis. The results suggest that the acceptance of cyberslacking has the effect of increased motivation and productivity and that monitoring and control reduce trust and productivity in total which is the opposite of the goal of monitoring systems. Future research should be conducted on the discrepancy of the positive effects of permitting cyberslacking and the increasing number of companies which use control and monitoring systems to fight it and on the underlying reasons why productivity is reduced through cyberslacking (the effect of perceived mistrust etc.).
Growing environmental awareness, especially among young generations, is reflected in the willingness to accept price premiums for sustainable and recyclable products. In recent years, marketers have focused on reinforcing consumers’ attention and interest in green goods by increasing the effectiveness of various sustainability information on product packaging.
In this thesis, an analysis of variance (ANOVA) investigated the effect of visual and verbal recycling claims on product packaging upon the willingness to pay (WTP). Although findings showed no changes in WTP related to a visual claim, the presence of a verbal claim positively impacted the WTP in two of four cases. Further, significant interactions between the two factors were detected. The results suggest that students considered an imagery seal irrelevant during product evaluation, whilst communicating recycling information with a textual message or with a conjunction of both claims showed a tendency to improve price-value perception. However, results for the verbal and interaction effects showed variations across products. Therefore, one may not draw unequivocal assumptions from the findings of this study without research replication on a larger scale.
This research provides a comprehensive analysis on the relationship between reputation and brands image through a better understanding of the effect of corporate scandals on brand image. Secondary data taken from academic journals, academic books and press articles were used to develop this research. While some corporate scandals are the result of misbehaviour from inside the corporate, some are the result of external factors the corporate had nothing to do with and some are due to technological failures. However, irrespective from the source of the scandal, all types of scandals will change the consumer’s perception on the corporate’s brand. For example, a certain degree of brand distrust or brand hate might develop after the scandal. Nevertheless, a corporate can recover from any scandal through several appropriate strategies. While these strategies might differ in detail, they all must include addressing the public about the issues truthfully and adopting relevant corrective actions depending on the scandal’s type and scale. The main purpose of this thesis is to explore these concepts further in detail, to understand how a corporate can recover from a scandal and restore their pre-scandal brand position. Finally, a case study about Samsung’s recent exploding devices scandal will provide a current example on the topic. While this research will provide a summary on how will a scandal affect consumer’s perception and how could a corporate recover from a scandal, it is important to note that each scandal is unique and therefore will have unique effects on perception and will require a unique strategy to recover from it.
The economic consequences of the COVID-19 pandemic on the clubs of the Deutsche Eishockey Liga
(2021)
The COVID-19 pandemic is impacting the entire world in every aspect of life. The global economy is experiencing enormous setbacks in every economic sector. Specifically, the sports industry is facing a massive revenue loss since the outbreak of the virus, resulting from the implementation of pandemic containment measures. Every professional sports league has to adapt to the given circumstances and create solutions to keep the operational business alive. This study focuses on the clubs of the Deutsche Eishockey Liga. Due to the novelty of the topic, previous literature has hardly mentioned the economic consequences and long-lasting effects on the organizations and their ecosystem. In addition, the pandemic is a continuous process, leading to new results and insights consistently. To this end, the present research highlights the economic consequences of the pandemic and exhibits the conditions under which the league operation can be executed.
Following a qualitative research design to answer the research questions, a detailed literature review and analysis was carried out to provide theoretical delineations. Subsequently, primary data was collected through six semi-structured interviews with managers of a sample of DEL clubs to explore the problems, concerns and attitudes towards the pandemic’s effects.
The results demonstrate that the main source of income of the clubs are partly or completely eliminated because of the pandemic. In particular, ticketing and sponsorship, which are the main sources of income for the clubs, were affected. Overall, the outbreak of the virus led to a chain reaction of events, ultimately impacting the league operation. Consequently, the clubs need to rethink their business model and implement tactics to conquer this situation. Furthermore, the league operation of the 2020-2021 season can only be guaranteed if risk minimization actions and crisis management strategies are applied.
In sum this research provides a clear and transparent overview of the operational business of the DEL clubs under the effects of the pandemic. In addition, this research represents a starting point for future comparison and functions as a guidepost and support for a post pandemic economic analysis.
Digitalization is one of the major challenges for companies today. Well-established “traditional” companies have to adapt and develop new business models to stay competitive. Digitalization, connected services and alternative drive technologies are identified as key trends in the automotive industry. New competitors from different industry segments, e.g. IT industry, enter the automotive industry. Therefore, the automotive industry faces new challenges due to digitalization. These challenges are identified in the scope of this thesis. One major is a transformation of the classic sales process of a vehicle. Mercedes-Benz Special Trucks developed a new certified partner program. Bodybuilders, who are working with the model series Econic, can apply for the partner status.
Furthermore, Mercedes-Benz Special Trucks will launch a product information platform. Bodybuilders have the opportunity to market themselves and their products on the platform. Therefore, this thesis aims to identify the theoretical factors of the success of a digital platform and to transfer these factors to the automotive industry. Qualitative research methods were conducted to examine the practical relevance of these factors. By analyzing already existing platforms in the automotive industry, it turned out that many industry-specific success factors are already implemented. Thereby a series of recommendations for actions, regarding the design and optimization of the EconicPartner Portal, were derived.
This thesis should serve as a model to plan an efficient and smart solution when handling the phase-out process of products by XXXXXXXXXX in form of a 10-year life cycle plan. A deeper look into the product life cycle of three absolute rotary encoder families will be taken: A3M, ARS and ATM. These families are subdivided into different sizes, mechanics and electrical interfaces. By means of a status quo analysis, future trends and tendencies, regarding interface usage, technological changes or industries, will be identified. A survey is being executed to get a clearer perspective and to find out why customers bought a particular encoder: What types of machines are the products being used in? What requirements do the customers need for the future? The outcome of the survey will help to develop successor or alternative products that meet customer needs. The affected encoders are up to 20 years old and have reached the decline phase of their product life cycles. In addition to that, the production of some components of the encoder types mentioned above are being discontinued. In order to identify how much stock of the terminated parts is available, a last time buy range analysis will be conducted. Thereby, a range can be calculated which states how many more years the product can be sold. However, this is a linear calculation which means it is based on the consumption of the previous years. It is very much likely that by considering the insights of the survey regarding future tendencies, the consumptions will develop on an irregular basis, which means that it will decline more and more every year and not stay constant. This is crucial for planning the phase-out of the encoder families. Some of the discontinued parts are not only used for ATM, ARS and A3M but also for other encoders. Building on this knowledge, different phase-out scenarios for the three encoder families will be created. The strategically most fitting one for the respective encoders will be identified by means of a utility value analysis. After concluding the final strategy, a communication strategy will be elaborated to complete this academic paper.
Many articles claim that the successful management of organizational change is from utmost importance to ensure the survival and prosperity of the company in the fast moving and ever-changing business environment. There are various techniques, models and theories that were created to help companies to cope with organizational change.
This thesis aims to conduct secondary research to answer the following research questions:
1. Are change management models still relevant in the 21st century concerning their applicability and expected outcome?
2. How can the Change Management models be compared?
3. What role does leadership play in organizational change management?
Therefore, the following eight change management models are considered:
• Lewin’s Change Model
• ADKAR Model
• Kotter’s 8-Step Model
• Kübler-Ross Change Curve
• McKinsey’s 7s Model
• Nudge Theory
• Bridges Transition Model
• The Satir change management model
It can be concluded that the eight change management models are still relevant in the 21st century but the implementation must be well planned and precisely organized and implemented in a faster pace than in the past. The models can be divided into two categories - organizational and individual change management theories. Through an analysis of the findings it can be stated that good leadership of the ongoing organizational change is indispensable. There is no doubt in the fact that change management needs to be well managed but in order to be well comprehended by the employees and sustained, effective leadership is necessary. It can be summarized that effective leadership of organizational
3
change needs to combine the intellectual, spiritual, emotional and behavioral dimension with a strong focus on vision, values, corporate culture, strategy, empowerment of the employees, motivation as well as inspiration.
The recruitment and selection process in the mining sector in Zimbabwe has proven to be a challenge to both the management and the prospective employees. The mining sector is one industry that is of interest to the author as it contributes over half of the country’s Gross Domestic product. Employment in Zimbabwe is very high in the world due to the poor performance of the economy which is a result of mismanagement of the country. This paper seeks to examine the challenges that are faced by the prospective employees when seeking for jobs in the mining sector and also the challenges that the management faces in the recruitment and selection process. After the examination of those challenges, the author will provide a detailed analysis of the root causes of these challenges and then at the end provide recommendations in order to fix the challenges. This paper will also serve as one of the basis of further study of the recruitment and selection process in the mining sector in Zimbabwe
Change management is a very diverse subject which can be found and applied in every department of a big company. One area, where it often could be found is Business Process Management (BPM). BPM links the company’s goals, and also eases the day-to-day workload of the people, and increases the performance of the company by implementing technologies. These technologies range from something really simple to really big-scaled, e.g. a new operational platform. However, when something like that is undertaken change management methodology has to be applied. Since BPM is implementing a new technology in that field, change management methodology has to be applied, IT change management. The theoretical part of this research paper identifies the possible IT change management model. Examples mentioned include BPR, STS and PROGRESS that could be applied in a big scale project. This is the first set of challenges that has to be resolved. The second set of challenges that was identified is namely what role the IT consultant is going to assume - an Expert role, Pair of Hands role or a Collaborative role. Thirdly, it has be seen in theory what are the pre-requests for an IT change management project or a possible check list that has to be taken into account when undergoing an IT change project. The second part of the paper evaluates how the challenges, identified in the theoretical part, are observed in practice. In particular, if they have been experienced in the past or also after Platform B was being implemented in Organization A. The information provided in this research paper is based on primary research with seven interviews of people from Organization A, one survey amongst a particular group in Organization A, and secondary research incorporates literature review on relevant points and also corporate documents of Organization A.
This document presents an investigation about the carbon footprint certification and the main three different standards that help during the reduction process of CO2 emissions. A summary of the certification bodies and the certificates it provided in this paper, including an evaluation of the differences and explanation of the standards. Moreover, since the beginning of globalization and the industrial development happened, the environment has been suffering several changes. Some of those changes made a notable difference in the climate and in the pollution of the planet. The result of the situation was the popular Global Warming process. Global warming is cause by the emission of greenhouse gases into the atmosphere; these gases capture the radiation coming from the sun and raise the world temperature. For improving the situation in a more sustainable way and reducing the environmental impact of the carbon footprint the next standards were developed: (1) ISO standards, (2) PAS 2050 and (3) GHG Protocol. Many companies, governments and civil societies apply the carbon footprint measurement and reduction process for achieving a more sustainable future and having positive repercussions. Being environmentally friendly has created many different ways of lowering the GHG emissions and the pollution in the environment. One of the methods is the carbon footprint certification and the creation of different standards for guidance and audit. On one hand these methods create excellent results, but on the other there is still a high percentage of people, countries and organizations which do not help with the reduction of the carbon footprint or any other problem the environment faces. For this reason making the society aware of the possibility to change the situation is of great importance.
The investments’ dynamics in the Fintech industry represent a great opportunity for many Fintech entrepreneurs that use technology to drive down operating cost and build products that match the digital needs of the millennial customers.
They challenge the status quo of the existing players in the industry, but it is a bigger challenge for the new entrants in to acquire customers and compete for a
market share because of the high acquisition cost and lack of historical data for optimization.
This thesis seeks to explore the digital channels used for customer acquisition and to make an analysis about the cost of the channels, targeting capabilities,
effectiveness and the effort required to set up and optimize the digital channels.
This paper also seeks to improve our current understanding of which factors influence the acceptance of fintech technology, are relevant to consider in the
context of the fintech industry, using TAM as the theoretical foundation and internet banking technology as the closest example of fintech products.
In 2013 China's President Xi Jinping announced a new project. In his vision, the Belt and Road Initiative (BRI) creates and opens trade routes between China and western countries, mostly the Middle East, Central Asia, Afrika, and Europe, via maritime and land routes. These trade corridors should establish and improve trade relationships often by high investments in the infrastructure.
The motivation behind the initiative is manifold. On the one hand, China wants to become more independent from the Western industrialized countries by building a new economic system. On the other hand, it wants to consolidate and expand its geopolitical influence.
China's state-owned banks have been the largest investors in the Belt and Road Initiative so far, but China has also been able to attract major EU countries such as Germany, France, the UK, and others to jointly establish the Asian Infrastructure Investment Bank (AIIB) and invest in BRI projects through it.
Although German companies are hoping to participate in the Belt and Road because they expect significant economic benefits, the German government is refraining from concluding an agreement with China for the time being. The EU is somewhat skeptical about the initiative, but no sanctions or interventions have been taken from its side so far. Yet, the EU is split, and countries such as Greece or Italy have already signed an agreement with China and thus received financial support for their infrastructure.
This bachelor thesis explains the Belt and Road Initiative in detail, tries to highlight the motives behind it and illustrates the impact the Belt and Road Initiative has on Germany and the EU and which implications this has for the German economy.
Resulting from the rapid technological advancement in the field of artificial intelligence and its implementation in the business world, intelligent systems are gradually adopted in recruitment. As this development is fast evolving and recent, there is comparatively little research about artificial intelligence in conjunction with recruitment. Hence, this thesis aims at exploring the effects of intelligent algorithms on the recruitment process and the biases involved.To investigate the topic, existing literature was analysed and primary research in form of expert interviews was conducted.The thesis describes the current state of implementation, effects on recruiters and bias as well as potential drawbacks. Overall, it was identified that artificial intelligence cannot prevent bias in personnel selection.The findings imply the need to further research the topic, particularly the implications of algorithmic bias.
The importance of lean management in indirect areas has drastically increased in recent years, as it allows companies to remain competitive. At Bosch Gasoline Systems, lean management has been practiced in indirect areas for some two years now, but the project team responsible still attempts to improve tools and processes wherever possible.
This bachelor’s thesis therefore provides an overview of the possible improvements that might be made to the Lean Management System (LMS) in order to facilitate its introduction in the Czech Republic, the Netherlands, the US, Japan and Korea.
After an extensive literature review, an “ideal” lean culture profile is developed, which is then compared to the cultural profiles of the countries of interest. The basis of the “ideal” lean culture profile is derived from the study of Liker (2014) and Zollondz (2013) where they present 14 lean principles and then the significance of these principles is analysed using Hofstede’s cultural model.
Thereafter, interviews are conducted with experts from the lean team as well as with locals from the various countries of interest in order to find out about the cultural differences between the countries of interest and Germany, as well as to find out about the applicability of the current version of the lean management system in these countries.
Since there are differences between the developed “ideal” lean culture profile and those of the other countries discussed in this thesis, these differences are then analysed. The conclusions drawn, which are also supported by statements from the interviewees, are used to derive countermeasures and possible ideas for facilitating the introduction of the LMS abroad.
In the conclusion, limitations and further research questions are discussed.
The access to the Internet has enabled various peer-to-peer marketplaces to develop with fast pace and complete with traditional businesses by offering broader range of goods and services. In some cases peer-to-peer markets offer a solution to a problem, going beyond the capabilities of a traditional business. This thesis studies a particular peer-to-peer market called crowdfunding that offers a solution to individuals who require funds and has been a subject of experts’, regulators’ and media attention. In particular, the paper studies the way crowdfunding websites Kickstarter, Indiegogo and Crowdfunder match buyers and sellers and discovers that some websites might have an incentive to manipulate matching. Furthermore, the paper analyzes the pricing structure these websites use and learns that price discrimination is present in crowdfunding. Additionally, the paper investigates the most fundamental mechanism that allows Internet platforms to function, which is reputation. In particular it uncovers that the way trust is built in crowdfunding differs to certain extant to other peer-to-platforms and that this questions requires further research. Finally, after looking at the arising regulatory issues, it becomes clear that there are opposing opinions of experts and regulators about regulation of crowdfunding that create both fear and hope. Privacy and data usage by the crowdfunding websites seems to be an issue that also requires further attention.
The purpose for researching the topic of the globalization of sport, is to examine the extent to which baseball is a global sport. While many writers in the fields of sociology, anthropology, and the history of baseball have studied countries around the world on an individual basis; little to no research on globalization has been pursued. Therefore, a comprehensive analysis of baseball around the world is the focal point of this paper. This study is based on the work of Roland Robertson in the field of globalization and Richard Giulianotti in the field of soccer. Robertson, a professor of sociology at
Aberdeen University, developed a Five-Phase model of globalization which identifies key turning points in the evolution of globalization around the world. Giulianotti applied the Five-Phase model to the game of soccer to determine which factors played an essential role in the globalization of the sport.
The author has derived a list of critical research statements to guide the hypothesis that baseball is a global sport. This study considered literature of baseball around the world. Topics included the significance of Spalding’s Great Baseball World Tour,
examples of countries where baseball has been played, international baseball governing bodies and events, and baseball celebrities that have influenced the
game. Also, the author interviewed Nate Fish, Co-Director of the Israeli National Baseball team, and Tom Gillespie, International Baseball Scout for the Pittsburgh Pirates, to supplement the analysis.
The evidence of the global significance of baseball includes the prominence of an international governing body World Baseball Softball Confederation, international baseball events World Baseball Classic / Premier 12, and a large body of membership in internationally sanctioned events. Interest in the game is growing internationally, evidenced by the fact that 72% of the world recognizes the game of
baseball, online subscriptions for premium content are trending up, and records in attendance, viewership, sponsorship, and social media activity were achieved during the 2013 World Baseball Classic. The findings of this research suggest that there is an emerging market for international baseball.
As banks have to close branches in the current low-interest environment and as customers show an increasing preference for online channels, existing channels of branch-centric banks no longer can guarantee to suffice the needs of the omni-channel consumer. Online consultation through video chat, called video banking, is a possible solution for these issues. In order to keep marketing activities effective and cost-efficient, it is of interest for the banking sector to define a socio-demographic target group for video banking.
Thus, the objective of this thesis is to find socio-demographic characteristics which influence the willingness to use video banking. The characteristics deemed as plausible predictors are then tested for their suitability as such through bivariate and multivariate analysis of an empirical study conducted among U.S. bank customers with internet access. The goal of the multivariate analysis is to find the regression model that best predicts the willingness to use video banking. Depending on the outcome, recommendations will be made about the definition of a target group for video banking.
Although sustainability reporting in China receives more attention in the past ten years, effective studies and literature of sustainability reporting are still in urgent need. A good sustainability reporting will provide stakeholders with needed information and guidance in the activities, and it also minimises the potential harm while creating economic, social and environmental values (Schaltegger & Wagner, 2006, 5). The main objectives of this research are not only to have an overall view of Chinese sustainability reporting situation but also to look into how Chinese companies will develop or what needs to be changed for a better development. To achieve this goal, sustainability reporting issued by top 10 manufacturing companies will be studied concerning GRI. During the analysis, the GRI Specific Standard Disclosures and Principle of Defining Report will be adopted to view how Chinese companies perform in sustainability reporting both in content and quality. Further, the possible elements of influencing companies development will be illustrated. Then make an attempt of what will future SR focus. The result obtained from the analysis is that Chinese sustainability reporting still have many problems in both quality and content. Most of them share the similar preference on how and what to disclose, such as focusing on resource saving. After making an explanation of what will affect future development of the companies in China, it is concluded that in the future the focus of SR will be concentrated on adoption of new energy, technology innovation, application of greener supply chain and consumption of green products.
“Without data, you're just another person with an opinion.” (W. Edwards Deming)
The main objective of this thesis is to establish whether or not a quantitative forecasting method can be utilized by WAFIOS AG for the prediction of future revenues. If so, a data foundation for the forecasting calculations will be defined.
I conducted expert interviews with selected employees in the WAFIOS sales department and performed calculations to analyze the possible methods and indicators that WAFIOS might be able to use in their forecasting process.
The result of this work shows that forecasting the WAFIOS revenue, using a multiple regression analysis and indicators suggested by the sales department of WAFIOS, is not possible. However, during my research and analysis, other potential methods were discovered that might prove useful to WAFIOS and should therefore be examined more closely at a later time.
The main goal of the study is to analyze students’ buying intention towards e-learning program by developing a structural model of e-learning acceptance by the students and analyzing perceived usefulness, perceived ease of use, attitudes, subjective norms, motivations and buying intentions according to the developed model.
Strategic Responses of Premium-Segment German Autos to The Global Climate Change for Thai market
(2016)
The global climate change has become an important challenge in automotive industry because CO2 emissions from the fossil fuel combustion of vehicles contribute very much to climate change, especially global warming. Consequently, the world automotive trend is moving to environmental friendly cars. Thailand has faced various catastrophes caused by climate change, especially hazard drought, floods and heat waves, so environmental friendly cars are also needed in Thailand. Since Thailand is one of the major markets of the German luxury automakers in Southeast Asia, this study investigates the competitive environments of Thailand automotive industry and forecasts the implementation of environmental friendly cars, especially flexible fuel vehicles (FFVs), hybrid cars and electric vehicles (EVs). The analysis is based on the integration of valid secondary sources and expert interviews. It is found out that Thailand automobile industry is significantly attractive for the German luxury automakers in both production and domestic sales because of the availability of skilled labour, the rise of middle and upper middle class income earners, the integration of ASEAN Economic Community (AEC), better developed infrastructure than other ASEAN countries, the government supports and the increasing demand of autos in Thailand and other ASEAN countries. Furthermore, Thailand can be further developed to be a production centre to export cars to other ASEAN countries and to be a market leader to align other ASEAN markets for a better and effective management as one big market. In order to respond to the force of new tax policy based on CO2 emissions, issues of climate changes and not to lose their competitive position to those Japanese automakers, within the next 5 years, the German luxury automakers should increase their product portfolio of hybrid cars in Thailand, especially plug in hybrid electric vehicles (PHEVs). Simultaneously, flexible fuel vehicles (FFVs) should be also launched because of the already existing flexible fuel products of the German luxury automakers as well as the high capability of ethanol production and the increasing use of E85 in Thailand. After 2020, some EV models should be launched in Thailand. The demand for EVs in Thailand will rise because people will be willing to adopt EV technology after the launch of PHEVs in 2016 and the number of charging stations will be increased. Moreover, the use of solar cells to produce electricity for EV charging will increase because Thailand is a hot country and it is very environmental friendly.
The B. Braun Aesculap AG division “Degenerative Spinal Disorders” will be launching a new Spinal System mid 2017. A Spinal System is a combination of implants and instruments used to treat spinal disorders caused by deformity, tumors, trauma or via degenerative conditions.
The current industry standard is that manufacturers sell the implants necessary for these surgeries in non-sterile packs, which require sterilization by the client organizations. This is different in other orthopedic sectors such as hip or knee, where the use of sterile packed implants is the industry benchmark. As this is not the standard case for spinal surgery so far, all processes within the majority of client organizations are accustomed to using non-sterile packed spinal implants in their operating room processes and logistics.
The new Spinal System, being offered by Aesculap AG in the near future, is challenging this status quo, as it will be offering a system solution in which the implants will be sold in sterile packaging.
This new business model entails changes in the processes within the manufacturing and client organization. These changes need to be implemented and communicated correctly.
In this thesis both business models based on sterile and non-sterile packed implants and their respective processes are compared. Strategic and operative relevant aspects are analyzed to define strategic criteria necessary to appropriately implement and communicate the new system.
Strategic Performance Management with the Balanced Scorecard in Small and Medium-Sized Enterprises
(2015)
Although the Balanced Scorecard, designed by Kaplan and Norton in 1992, seems to be established as accepted performance measurement and management tool, a minority of small and medium-sized enterprises were recognised using it. Thus, further investigation of this minority was seen as interesting. Therefore, the purpose of this study is to demonstrate and examine possible drivers and challenges within small and medium-sized enterprises using a Balanced Scorecard and additionally provide areas of improvement for the analysed company, tecnotron. In order to reach this, a company study was conducted, clustering around three types of data collection, including the analysis of company documents, information obtained from general managers, and semi-structured personal interviews with six key persons of the middle management. This enabled to create a holistic view of the current practices used at tecnotron and revealing possible issues with regard to their performance measurement framework and system. The results of the study demonstrated that quality certification norms are supportive approaches and can be seen as drivers to succeed in developing and using a Balanced Scorecard in small and medium-sized enterprises. Moreover, the study results primarily indicated challenges regarding the selection of measures and the movement towards a strategically linked Balanced Scorecard with the perception as strategic management tool. For tecnotron it was recommended that the consideration of establishing linkages among their objectives, with the help of a strategy map, could be advantageous for their future development.
The e-Commerce market is continuously gaining importance, leading to a fast market development and to equally rapid transition in business models. This thesis analyses the impact of the e-Commerce sector on stationary trade, based on a case study of an internationally established retailer with focus on the Swiss market. The paper builds up on the explanation of the term e-Commerce and the e-Commerce sector, then evaluates the effects of e-Commerce on stationary trade. Based on this information, a case study will be analysed using specific key performance indicators. The aim is to clarify whether the e-Commerce sector is a threat for stationary trade and to elaborate recommendations for retailers. Therefore, innovative concepts of retail stores are mentioned and applied to the case study, in order to give concrete recommendations for further development of multi channel strategies. It can be concluded that although e-Commerce is a growing business model, stationary trade is indispensable. Both sectors should be understood as complementary concepts. Consequently, strategies for implementing multi-channel schemes should be implemented in order to stay competitive and satisfy customer needs.
The currently ongoing COVID-19 pandemic and the resulting recession in the economy offers opportunities for start-ups and times of hardship are a driver for entrepreneurship. Although the bargaining power of suppliers and buyers is high, and financing becomes increasingly difficult, many start-ups managed to report a strong fiscal year through innovative processes, especially in the finance and insurance, healthcare, pharmaceuticals, and education sector. To combat the crisis, governments across the EU implemented state aid schemes to support businesses, which however, SMEs often do not receive. The coronavirus pandemic potentially sparks a rethinking process and with an increasing share of start-ups in the economies across the EU, the recognition and funding opportunities will improve, with InvestEU being a step into the right direction.
This thesis is concerned with the analysis and the improvement design of the Disposal Structure Optimization Process (DSOP) which is used by Global Flow GmbH (GF) within the waste consulting services conducted for its clients. The study is elaborated on behalf of GF that desires formalizing its procedure in order to identify deficiencies and yet unrecognized potentials to be leveraged. Thus, a process analysis according to Harrington was applied to the DSOP, in which the process was first documented through description and visualization and then evaluated in order to eventually come up with suggestions for improvement. The process-related data was drawn from interviews with GF management and evaluated from the author’s perspective. The subsequent design of an advanced DSOP was based on the previous evaluation and focused on the enhancement of the process’ value creation by providing improvement measures concerning knowledge-creation for customers, work organization for consultants and decision-making support for management. Hence, four measures were elaborated for purposeful process improvement and designed into the advanced process model: knowledge management, software support, performance measurement and a process infrastructure of standardized information flows. If implemented, the advanced process could enhance GF’s performance and support proactive consideration of strategic stakes.
Stakeholder analysis as an instrument for a successful development for a departmental strategy
(2016)
Functional strategy development is a vital key lever for any manager to provide direction, and to define the purpose and the value contribution of his organization. In this context, the increasing usage of stakeholder analysis in today's business world confirms the realization that stakeholders' input is an essential tool to shape and influence the decision making process. To that effect, obtaining input on their perceptions, beliefs, intentions and interests represents a valuable instrument for managers to furthermore facilitate the implementation of organizational objectives and the development of a functional strategy.
This paper reviews the fundamental aspects of functional strategies and stakeholder analysis, followed by theoretical approaches of research design and data collection methods, as well as organizational change. In relation to these concepts, it introduces a business area of concern and explains the research framework. A thorough investigation of the research outcomes, their potential origins and boundary conditions will lead to recommendations of corrective measures.
The paper proposes the business area concerned to face a major root problem, which suggests being the main cause for multiple related problems that were all detected in the course of the research.
There was an increased in the number of high-skilled Spaniards that decided to leave their home country. The economic situation and the high unemployment rate have complicated the chances to find a well-paid job and responsibilities according to their level of education. Therefore, Spaniards with a tertiary education find new opportunities in foreign countries like Germany with a robust and stable labour market.
This issue is gaining importance and must be deeply analysed. Thus, the purpose of this thesis is, by the use of secondary and primary data, to describe what are the push and pull factors, and what are the consequences of the Spanish brain drain for Germany and Spain. The conclusion, will confirm and give possible recommendations that the Spanish government may apply in the future.
The onset of COVID– 19 has accelerated digital trends facilitating the rise of social media and the financial technology industry. Especially in the private equity sector, investors are increasing their online presence and marketers need to define a tactical social media plan to improve its integrated marketing communications and facilitate lead generation.
The objective of this thesis is to develop a social media marketing proposal and action plan for the fintech company: Moonfare GmbH. The aim is to identify the most suitable content marketing, social networks and techniques to power sales growth, brand awareness and community engagement through its current social media channels.
In order to develop a deeper understanding, the literature review presents different digital marketing frameworks applied to social media marketing. Moreover, a careful study of the fintech private equity industry is developed through a Porter’s 5 forces model alongside an explanation of the case of Moonfare through a blue ocean canvas.
For the research, secondary data and internal desk research were performed including, statistical insights directly gathered from the company. The study was further designed with an internal and external situation analysis, concluding with a SWOT model and the establishment of objectives through a SMART goals framework. The final action plan is presented in an OGSM model.
Social media has become inseparable from our daily lives thanks to the widely use of internet and mobile technological advancement. Travel and tourism has benefited a lot from social media, especially the travelers. Not only can they find travel-related information on social media platforms, but they can also discuss and exchange necessary and relevant opinions and information.
The purpose of this research study is to examine how social media influences where German millennials determine their holiday destination. This dissertation analyzes to what extend social media influences the individual German millennial’s decision and whether reviews and comments affect their decisions.
The research study comprises of 5 chapters which represent the analytical process from beginning to end. The first chapter is the introduction, then literature reviews, then the methodology for primary research of this research is identified and explained. Results from the online questionnaire are then presented followed by an analysis and interpretation. Finally, the conclusion and limitation of the research have been discussed.
This research study concludes that social media does influence German millennials when they use social media to compare the holiday destinations in comparison to those who do not use social media for this purpose. It is clear that social media is the main source of information when they are looking for holiday destination information and is preferred compared to travel books and travel agencies. The results have shown that TripAdvisor is the most used holiday destination information page among other social media platforms. Furthermore, most of German millennials are passive users of travel-related social media platforms. That means they only consume information but do not necessarily write reviews or comments after their holiday experience.
The awareness of fintech has been on the rise, as more banks participate in technological changes, new unconventional companies and start-ups begin to offer fintech solutions to the public, and an increase in fintech exhibitions and fairs can be observed all around the world. Below is a figure obtained from Google Trends, which illustrates the trend of Google searches related to fintech the past 5 years. As Google is known to be one of the most frequently used search engine around the world, the trend depicted will accurately reflect the awareness in fintech.
With reference to Figure 1, a value of 0 indicates that there is insufficient information regarding searches for fintech and a value of 100 indicates the maximum peak popularity for fintech. Therefore, Figure 1 represents the growing attention of fintech since 2015. The ‘note’ in Figure 1 represents an improvement made on Google Trends to collect search results.
Fintech is most known for its disruptive and unconventional impacts it brings to the traditional banking industry. (World Economic Forum, 2017) In light of fintech, the perception of banking today has changed drastically as compared to the past. As opposed to traditional banking that was once the monopoly of the industry, banks these days are following the trend of moving towards digitalisation, in order to remain competitive. (Williams-Grut, 2015) (World Economic Forum, 2018)
Attention for fintech amongst the public, investors and governments grew rapidly since 2014. (Arner) The graph below indicates a flourishing expectation in the fintech investments. (Statista, 2015) From the year 2008 to the year 2020, the value of fintech investments all around the world is projected to grow to a USD$46 billion industry. A market analysis that was done by Deloitte also suggests the same growing trend. (Deloitte, 2015)
Numbers in Figure 2 represent the total value of fintech investments across all segments of fintech. In general, fintech is divided into 4 segments: payments, financing, asset management and others. (Gregor Dorfleitner, 2017) However, there are variations from publications to publications. An industry report conducted by Statista found that digital payments segment in fintech was the largest in 2017, with a global transaction value (TAV) of US$2753.70 billion. (Statista, 2018) Following digital payments was alternative lending, followed by personal finance and lastly alternative financing.
As part of the thesis, an expert survey was conducted. Professionals who are currently working in the fintech industry, in addition, expressed most positivity and expectations in the payment sector of the fintech industry. Moreover, results gathered from another survey participated by members of the public also indicated the most interest in payment/personal banking. Approximately 50% of all responses collected indicated “Yes” for payment/personal banking services. Due to this uprising expectations of the payments sector by experts in fintech, this thesis aims to focus on the payment sector in fintech and to predict trends as accurately as possible. The integration of fintech initiatives into payments has brought about new areas of studies, in terms of business models, types of services, customers as well as the security of data. (Salmony, 2014) Therefore, this thesis aims to address these areas, as well as to offer suggestions to counter threats faced by payments in the fintech industry.
This thesis will be based heavily on business to customers (B2C) fintech products and services. It will consist of an extensive literature review and empirical research on reliable sources of information. Data used in this thesis will be from both primary and secondary sources. Primary data is collected through two surveys. The survey was divided into two target groups- first for the mass market and second only for senior professionals in the fintech industry. The purpose of the first public survey is to understand the preferences and needs of the mass market. The second expert survey was done to understand the strategy of two highly successful fintech company and their future expectations from a professional’s perspective. The experts are current professionals from Murex and Allianz Technology. As for secondary data, it is obtained from credible sources, such as government websites and industrial analysis reports. As certain names and keywords vary from sources to sources, they will be classified accordingly, as accurately and closely as possible. The information used in this thesis is further explained under “Methodology”. Primary data collected and secondary data gathered will be compared with each other to verify their accuracy.
The first chapter of this thesis gives an introduction to the fintech industry. The second chapter will analyse the digital payment environment. This includes the SWOT, PESTEL analyses and advantages and disadvantages. In the third chapter, it will discuss the digital payment industry today. The fourth chapter will be related to primary data findings through surveys and a comparison with secondary data gathered. Future predictions will be covered in chapter five. In chapter six, challenges and suggestions will be discussed to help fintech companies to overcome challenges and remain competitive. Finally, a conclusion will be in chapter seven.