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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 Light Commercial Vehicle is a small vehicle, of up to 6 tons, mainly used for small business in the transportation of good or for personal purposes. LCV market is not well known and yet to be considered as a potential business, especially for Commercial Vehicles Business Unit which belongs to the Interior division of Continental Automotive. Some neighboring segments within Interior division have some participation in the market; however, it is not considered as a main priority for either of them. There is no proper focus on analyzing its potential and find the right strategy to tackle it. Due to some sort of pressure to grow Continental’s businesses, Commercial Vehicles BU, represented by Vehicle Electronics segment, has come up with the intention of finding how to approach this new business opportunity in the face of other neighboring segments of the same division also getting into this broad opportunity. There is also a need to establish a right internal communication process and its impact upon a concrete choice of product to enter this new business. Finally, to establish if LCV market is a promising opportunity, in particular for Commercial Vehicle Business Unit. This research is highly beneficial for Continental Automotive, in special for Commercial Vehicle Business Unit since it helps to understand its current situation in the market at different regions levels. Business Unit is able to find right approach for the LCV market together with a suitable sales strategy for each region and a concrete choice of products at a competitive price level with the results, discussion and recommendation of this research. In other words, to get new businesses for future sales growth. Continental Automotive was founded in Hannover in 1871. Nowadays, it is one of the German Automotive Supplier leaders of the automotive market worldwide. The company has presence in 50 countries and sales of €34.5 billion and mainly supplies tires, brake systems, chassis components, vehicle electronics and powertrain controls. Vehicle Electronics segment, part of Commercial Vehicles segment, is the direct responsible for this LCV market. The segment specialist in electronic solutions in six fields of applications such as Commercial Vehicles, Bus, Agriculture, Construction, 2-Wheeler and Marine business. The Light Commercial Vehicle is consider as an important part of the fleet of vehicles and for a number of years now have been taking a constantly increasing share of the transport services, both in Germany and Europe” (BASt, DEKRA, UDV, & VDA, 2013, p. 5). The potential market for this kind of vehicle stands on BRIC countries, mainly India and China. Although Brazil is considered as the most mature and stable of the BRIC by (Barclay, 2010), still is hard to forecast due to economic volatility and changing regulation, indicates (Roland Berger, 2014). The market development in Russia is hard to anticipates, points out (Barclay, 2010) due to its crisis and political issues. “India is expected to return stronger growth” (Roland Berger, 2014) owning the fastest production growth from the other three. For (Roland Berger, 2014) China will be the global volume driver in automotive, remaining by far the largest of the market. The methodology held in this study is based on an exploratory research; using qualitative data which has been collected thought secondary and primary data. This research work starts with the introduction, following by chapter one which includes the problem background, problem statement, research questions and objectives, purpose and significance of the study and finally limitations. The second chapter continues with the review of related literature and studies. It explains the Light Commercial Vehicle characteristics, segmentation production and demand. Besides, it describes the company’s history, SWOT analysis, structure segments and portfolio. It also gives an overview of the trends in the automotive industry, OEMs, suppliers and BRIC opportunities. Chapter three informs about the methodology used together with the data collection and target group. Chapter four focus on developing all findings. Finally chapter five explains the discussion and recommendations of this study.
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 objective of this study is to examine the relationship between the level of Chief Executive Officers’ incentive compensation and subsequent share price performance for the 80 biggest stock listed German companies between 2005 and 2014. The performance proxies are geometric monthly returns, as well as risk-adjusted geometric returns using the Sharpe Ratio. Additionally t-statistics for quintile portfolio returns have been calculated. The results are mixed, indicating that there might in fact not be a relationship between incentive compensation and share price performance at all for this sample. Consequently this study finds that average monthly returns for firms with incentive pay-outs are strongly correlated to the returns for firms without incentive payouts and that the samples do not differ significantly . A relationship between the level of incentive compensation and the level of future share price performance can also not be
determined with absolute certainty. However there are indications that would support a negative relationship between the two, as average monthly returns decrease over longer time horizons. The Sharpe Ratio analysis finds mixed evidence on this question while the t-statistics indicate that there are no significant differences between 94% of the formed quintile portfolios.
Despite the growth the luxury industry has experienced in recent years, marketers are increasingly facing the emergence of a younger luxury consumer that has different values, priorities, and attitudes. Since these consumers are soon to replace the current luxury clientele as the primary luxury consumer due to their size and purchasing power, successful luxury brands have changed their strategies in order to stay relevant. Being faced with a considerable decrease in brand loyalty, a deeper understanding of the drivers of brand loyalty among this clientele is of utmost importance. Whereas loyalty has often simply been defined as repeat behavior of purchasing one single brand, the literature suggests a more complex definition, which emphasizes the importance of a favorable attitude toward the brand in order for a consumer to be considered truly loyal. Since this attitudinal part of brand loyalty does not necessarily presuppose actual brand usage, Gaggenau as a luxury appliance brand needs to find ways to attract and establish a pre-purchase bond with these consumers even before they have reached their peak buying power, which will create the basis for enduring brand loyalty.
This thesis was set out to explore the complex process of loyalty creation in view of a different luxury consumer, which is increasingly gaining strategic importance. Focus of this thesis was to provide the luxury appliance brand Gaggenau with advice on how to create the basis for enduring brand loyalty among young Generation Y consumers. As a basis for the analysis, the term “luxury” including its different facets and the role aspirations play in the consumption motives for luxury goods has been investigated. This was followed by an examination of the important role of a new type of luxury consumer, characterized by different traits and attitudes. These consumers are likely members of the Generation Y cohort. Due to decreasing loyalty levels, particular emphasis has been put on understanding how to establish an enduring customer-brand relationship. For this, the formation of loyalty, including different degrees and types of loyalty, has been thoroughly investigated. The importance of truly knowing the consumer’s values, desires, and preferences in the creation of brand commitment or in other words the attitudinal part of loyalty as an ultimate milestone to creating enduring brand loyalty, has also been pointed out. Therefore, the next step was to understand Generation Y consumers. The investigation has mainly focused on the opportunities for creating aspiration or an emotional bond with the consumer at the early stage of the consumer journey. Then, the specific challenges Gaggenau is facing with regard to this new luxury consumer and due to the difficulty of reconciling its status as luxury and appliance brand have been presented. The insights gained throughout this dissertation have then been summarized in a recommended course of action. Finally, based on the development of a Weighted Average Scoring Model for potential Gaggenau consumers, a selection of specific touch points has been evaluated on their effectiveness of creating the basis for enduring brand loyalty at the early stages of the consumer journey.
The 21st century has been marked by the first ever social environment encompassing four distinct generations: Traditionalists, Baby Boomers, Generation X and Millennials. These cohorts grew up in different times, shaped by various political, technological and social events, which carved their character, mentality and perceptions in a contrasting manner. The results have been a clash of ambitions, opinions and personalities that has been prominent in both the private and the professional life. The university and in particular the Business School of the Hochschule Furtwangen University is a place where cross-generational members collide and experience the differences first-hand. In addition, it is the last frontier before the students and their respective careers as professionals. Thus, it is equally relevant to be explored as a potential ground zero for misunderstandings and conflicts as any other social environment. For these reasons, the thesis focuses on analyzing the three predominant generations of Baby Boomers, Generation X and Millennials and identifying the key characteristics that differentiate them, which would provide a better understanding behind their actions and behavior. In addition, the findings aim at bringing relevance of the analysis to the university in question and improve the generational interactions and collaborations. In the end, it has been concluded that the generational gap exists and its influence is strongly present. Furthermore, it has been established that there is a lack of awareness on campus regarding the issue and more measures should be taken into consideration. Therefore, a number of recommendations have been made, the goal of which are to improve the environment and tighten the gap as much as possible.
In the pursue of findings, the thesis includes a primary research in the form of a questionnaire, distributed to the students and faculty staff, as well as a secondary research, encompassing literature review and relevant topics.
Especially in the past years, the Internet of Things and strategic alliances between different companies have become increasingly important. While previous research has mainly focused on the purpose of alliance failures and the success of partnerships in general, this paper introduces a standardized partner evaluation tool for connected products and digital services to prevent poor candidate selection. Based on an extensive literature study, this work analyzes the core industry of the home appliances manufacturer BSH Hausgeräte GmbH with a particular focus on the Internet of Things. Through the conduction of expert interviews, literary findings about strategic alliances are verified. Additionally, the interviews support the optimization of the decision instrument and prove its relevance and suitability. Further, the paper aims at identifying whether the home appliance manufacturer lacks knowledge in selecting suitable partners for digital services and whether such a tool will improve the speed and preciseness of the decision-making process in the future. Lastly, future research questions are discussed. This study confirms that rating partners by standardized criteria is especially beneficial to support the selection decision in front of other stakeholders. The results of this work significantly contribute and add value to the Corporate Digital Transition Department at BSH Hausgeräte GmbH. In particular, managers with the responsibility to evaluate potential partners to extend the digital services portfolio of BSH’s smart home solution will benefit from this paper.
According to the United Nations, more than 70% of the world trade is carried out by the multinational companies which represent nearly 250% increase in the last four decades. This also represents the extended number of inter-company transactions such as transfer of money as well as transfer of goods and services from parent company to daughter company and vice versa. This issue of transfer of goods and more specifically transfer of money – as in transfer of profits – gave rise to debates in ‘Transfer Pricing’ in the international context. The companies use number of complex business models such as the Principal Company model as their supply chain network and move profits between different entities and create the tax advantages on basis of corporate tax rates in the different tax jurisdictions by allocating all the sales and profits to the principal company. The entities in high-tax jurisdictions, however, perform business activities on contractual basis and remunerated on cost plus mark-up by the principal company. This results several tax saving benefits for the group as a whole.
Under this behavior of the MNCs, the finance ministers of G20 and the authorities in OECD developed a 15 Action Plan under Base Erosion and Profit Sharing (hereafter “BEPS”) Agenda to develop ways to avoid tax evasions by the multinational corporations in the high-tax jurisdictions. The Action 7 of BEPS Agenda – artificial avoidance of Permanent Establishment status – was introduced for the change of wordings in the Article 5 of the OECD Model Tax Convention which explains the definition of a Permanent Establishment. By doing so, the contractual entities in high-tax jurisdictions, performing business activities on behalf of their cross-border parent in a low-tax jurisdiction, will be given a status of a PE and the sales and profits generated by these entities will be allocated to them and subjected to be taxed accordingly in a high-tax jurisdiction.
The analysis of the profit distribution and taxation of the contractual entities of the cross-border principal company in Germany is conducted by the author in this piece of research and shows the effect on the taxation of a company if the Action 7 of BEPS Agenda carries forward as a local legislation in the OECD countries.
The purpose of this study was to investigate the development process of renewable energy sector in Bulgaria and how far it is at the moment. Another aim was to find out the issues that exist in this field, as well as possible forecasts for the future.
The research was based on different literature sources and primary research techniques like interviews, which succeeded to answer the proposal questions. The key challenges Bulgaria is faced with were also identified through provided industry analysis and detailed outlook of the available renewables in Bulgaria.
The analyses of the thesis indicate the main issues that appear in the current legislative and administrative structure. Furthermore, the investigation found that there is a lack of liberalization of the market, which leads to confusion in the whole business picture of Bulgaria.
This research contributes for better understanding the potential of the renewables in Bulgaria although the non-availability of great political conditions as well as the pure issues in the social and economic growth. The results provide also suggestions for making better policies and finding more partners due to the fact that sustainable future is better for all of us.
Challenges and opportunities in building an Eastern European Brand: the Polish fashion market
(2015)
An insight on how domestic eastern European brands can go global The aim of the thesis is to find out how local eastern European brands can grow into international brands. There are already many global brands existing in the current world market. Most of these global brands are from developed countries. There are, however, brands from other countries which have great products. Eastern Europe, for example, has many products that are interesting, are of high quality but unknown to the world. For this reason the author would like to take Polish alcohol industry as an example. He will then look into the challenges and possible solutions of a domestic eastern European brand going global. The thesis first examines 4 big Polish liquor companies that start off unknown to the world. Through the implementation of a series of marketing and brand strategies they are able to become global players. Their product positioning are being looked into, and their marketing campaigns are being analyzed. The challenges that these brands faced before are summarized and possible strategies in coping with them are being suggested.
Economic Valuation of Investments in Tangible Fixed Assets of BASF Asia Pacific: Methodology Review
(2015)
The objective of this thesis is to review and evaluate the valuation methodology for investments into fixed tangible assets methodology applied at BASF East Asia Regional Headquarters for the Asia-Pacific region to develop recommendations based on current research. The net present value, adjusted net present value and economic value added approaches are analyzed as well as other key performance indicators, real option analysis and methods of integrating volatility into the valuation criteria. A shift from the currently utilized basic net present value model is suggested as the static nature of the model can oversimplify or exclude many factors relevant to accurate investment valuations. Ultimately, the net present value should be split up to highlight areas of value creation, real options should be integrated into standard methodology and project cash flow volatility should be considered in the process. The latter can be integrated by use of Monte Carlo simulations, which can be re-run at relevant decision tree nods to show volatility differences throughout the projects timeline. These values can then, either via twin-security, market correlation or internally determined scales be integrated into the discount rate, thus effectively adjusting for project specific risk.
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.
Recent work has pointed out the importance of social media for various components of a firm’s marketing communication strategy. However despite the clear movement to use social media as a marketing tool in general, the topic has captured little attention in academic literature, while limited research in general has closely examined online social media channels in the international content. To address this research gap the primary aim of this paper is to assess whether and to what extent international companies do adjust their marketing activities to the UK market. With the main focus on companies Facebook profiles this research paper focuses on the marketing efforts of the top 5 Facebook brands according to their number of followers from August 2014 to September 2015.
Telearbeit, also das Arbeiten von zu Hause aus oder von jeden anderen beliebigen Ort abseits des herkömmlichen Arbeitsplatzes im Unternehmen, ist ein flexibles Arbeitsmodell das sich seit der Jahrtausendwende weltweit sehr stark verbreitet hat. Dies liegt vor allem an der rasanten Entwicklung der Informations- und Kommunikationstechnologie und der immer besseren Netzabdeckung. Wichtige Faktoren sind aber auch die teilweise veränderten Wertevorstellungen der Generationen X und Y. Die traditionelle Arbeitszeit von 8-17 Uhr wird immer unattraktiver, vielmehr möchten Arbeitnehmer über die Souveränität verfügen den Zeitpunkt und die Lage ihrer Arbeit weitestgehend selber bestimmen um somit ihr Privat- und Berufsleben besser miteinander vereinen zu können. Bezeichnet dafür ist das Ergebnis einer Umfrage: Jeder zweite Deutsche würde gelegentlich außerhalb des Büros arbeiten wenn er die Möglichkeit dazu bekäme. Weltweit hegten diesen Wunsch sogar 63% der Befragten. Viele Unternehmen bieten bereits verschiedene Telearbeitsmodelle an, eine Vielzahl von Experten hält dies aber immer noch für zu wenig. Die vorliegende Arbeit zeigt, dass Telearbeit unter bestimmten Voraussetzungen zu einer win-win-Situation für alle Beteiligten wird. Je nach Unternehmensgröße können Einsparungen in Millionenhöhe auf Grund sinkender Betriebskosten und steigender Produktivität erzielt werden. Mitarbeiter sind motivierter und empfinden weniger Stress was sich positiv auf die Gesundheit auswirken kann. Sogar Verkehrsnetze können durch Telearbeit entlastet und der Ausstoß von C02-Emissionen verringert werden. Jedoch sind viele Tätigkeiten schlichtweg nicht in Telearbeit umsetzbar. Betroffen sind vor allem der Einzelhandel sowie handwerkliche und produzierende Gewerbe. Auch nicht jeder Arbeitnehmer ist für Telearbeit geeignet. Je höher der Bildungsgrad und je komplexer die Aufgabe desto größer ist die Wahrscheinlichkeit jene Aufgaben außerhalb des Büros erledigen zu können. Die wichtigsten Faktoren für eine erfolgreiche Umsetzung von Telearbeitsprogrammen sind aber in erster Linie die Vorgesetzten. Vertrauen in die Fähigkeiten und die Selbständigkeit der Mitarbeiter und die damit verbundene Bereitschaft direkte Kontrolle abzugeben
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.
Business includes interactions both in societal and organizational dimension. And interactions are done through communication. Communication is not just about sharing ideas through words. Communication is anyway a complex phenomenon. However in the age of the global business, where culture has become the core and with that more complex and therefore is neglected more than before. Besides, cultural aspects seem not to have given enough importance, in spite of doing business internationally, where culture plays an essential role. Thus global business, in form of overseas, offshoring, outsourcing, franchising, expatriates, investment etc. is a game where international entrepreneurship, intercultural challenges, culture, communication and results, leading either to successful and effective cooperation or disputes and conflicts, have a main role. Hence, this thesis, Intercultural challenges for international Entrepreneurs in Nepal and guidelines, instruments and recommendations for solving them, is all about how to combine these elements and deploy strategies by entrepreneurs from Germanic Europe while doing business in Nepal, considering the cultural differences of both cultures. Consequently the aim of this thesis is to provide with essential components concerning cultural differences that should be considered seriously while doing business in Nepal. A research conducted through questionnaire to obtain results in order to identify the most important cultural differences in terms of dimensions facilitated to develop strategies. To get to the recommendations, as the end part of this thesis, first some basic terminologies and concepts will be conceptualized. After, deeper concepts regarding the role of communication and language will be provided to reach the research part. Once, some concepts are explained in research part, results and findings will be illustrated before reaching to recommendations and conclusion. To conclude, strategies in this thesis are presented in form of recommendations and instruments according to the results, which show that there are few differences in some cultural dimensions and there are huge differences in some cultural dimensions, to foster cross-cultural cooperation without conflicts and disputes.
Globally operating stamping and hybrid parts manufacturer KRAMSKI and the FRANUHOFER IPA have developed a new prosthetic foot designed for developing countries. Although low-cost solutions in developing countries exist, these significantly lack functionality. The new prosthetic foot will be more expensive than most low-cost alternatives, which start from $ 5.00 for a simple SACH foot, but can be sold for a much lower price than most high-tech prosthetics imported from industrialized nations, which can cost more than $5,000. The purpose of the paper was to determine the market potential for the prosthetic foot, to monitor the competition and to create an overall marketing concept for distributing and promoting the product. Therefore market and competitor analyses were conducted. On base of the market and competitor research, strategies were formulated. As a last step, the marketing mix with its four elements was regarded and different distribution and promotional tools have been reviewed to propose marketing activities that could be undertaken by KRAMSKI. Since six different target countries in Asia and Latin America (India, Sri Lanka, Cambodia, El Salvador, Guatemala, and Honduras) were chosen in agreement with KRAMSKI, the market potential for each of these countries was estimated. Two different approaches were used to estimate the market potential of each country. Following the first approach, the total market demand of all six countries added up to more than 5.6 million potential. The second approach added up to a total of 6.7 million potential customers for the target regions. The numbers revealed that 95 % of all lower limb amputees lived in India. Therefore India has been chosen as the target country for all further research in the paper. The monitoring of the market change revealed that prosthetic foot demand was going to increase over the next decades due to lost limbs through road traffic incidents and diabetes. Besides, by the year 2030 most of the world’s middle class (80 %) will be living in developing countries As a consequence, more people will be able to afford health care products such as prosthetic feet. It has been found out that customers in developing countries lay emphasis on either low cost or quality. As a second step, the competitive environment within the prosthetic foot sector in India has been analyzed. Although the Indian healthcare system is still underdeveloped, the sector offers future opportunities for the private sector. The biggest commercial manufacturers of prosthetic feet in India are Otto Bock, Endolite and Streifeneder-Collegepark. But also international and local NGOs, such as BMVSS (Bhagwan Mahaveer Viklang Sahayata Samiti) with the Jaipur Foot, distribute prosthetic feet. Most of the commercial products are significantly more expensive than the products distributed by NGOs. Most NGOs manufacture prosthesis by themselves in order to save costs and create jobs. Many amputees can receive the prostheses and service for free due to donations which finance the NGOs. The competitive suppliers either own fitting centers or distribute their products through local wholesalers. On base of the market, consumer segmentation has been conducted. The Indian population has been divided into different income levels. Rural aspirers and urban seekers could be seen as the most profitable target segments, but urban customers might be easiest to reach due to location. In a last step, the marketing mix for the prosthetic foot has been analyzed. The prosthetic foot should offer specific features to align with developing countries. The product needs to be priced according to company objectives, demand, cost and competition. Since KRAMSKI does not yet have the capabilities and resources to fit prosthetic feet, the company needs to distribute to the end-user through indirect distribution channels such as wholesalers, clinics and NGOs. Therefore an important activity for KRAMSKI is the acquisition of distribution channels. This can be approached through promotional tools such as personal selling, direct marketing, online marketing or the participation on trade fairs and exhibitions.
This research study will analyze the flourish and outcomes of the sharing economy nowadays. The sharing economy has raised controversy in our society, rising significant importance on ecological and economic matters, thus it is imperative to evaluate its total effects. It is intended to discover the issues of the sharing economy model and its impacts towards sustainability and economic development. Who is being benefited by the sharing economy? A broad and deep analysis and breakdown of the structure involved by the sharing economy was made in order to clarify the overall positive and negative effects of such a model. Upon the examination of the influences and drivers of the sharing economy concerning the economy, society and ecology, awareness and insights of sustainable and economic enhancements are built. A distinctive perspective of the sharing economy is obtained based on evaluations of the relevant evidence collected.
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.