Business Strategy
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Corporate debt volumes in emerging market economies have been increasing greatly post 2007-2008 financial crisis. Debt levels have increased across the globe however, the pace is faster in emerging markets than in advance markets. Major countries in emerging economies such as Brazil, Russian Federation, India and China (BRIC) have a large and concentrated share in growing corporate debts. Although, both company specific factors and macro level factors have impacted the corporate borrowings leading to depressed corporate earnings, financial strains and capital outflows in emerging markets the impact of company specific factors is highly pertinent and demands research. The rise in debt levels has affected the return on earnings (ROEs) of the corporate companies which in turn is adversely impacting emerging economy and its financial stability. This paper has empirically tested for the explaining effects of rising corporate debts and changing return on assets (ROAs) on ROEs of emerging market corporate by establishing a multiple regression model. A sample of 100 corporate companies from BRIC countries has been taken to test the model. The test results confirm the importance of corporate debts in predicting ROEs and possible financial strains. Finally, the regression model has been used to estimate ROEs of these corporate companies for the next 5 years with specific recommendation and policy implication to avoid financial crisis.
As well as the global economy, the economy of football and more specifically that of the
professional football clubs has grown considerably in recent years.
The amount of money in circulation makes many people dream, but the source of this
money and the reasons that have led investors to take an interest in football are often
unknown to the general public, which is why I made this thesis.
This thesis therefore aims to explain these developments by detailing and quantifying the
different sources of income for professional football clubs.
We will see that the evolution and especially the multiplication of the sources of income
that make up the income mix of football clubs is representative of the evolution of the
football economy.
This thesis will also help to understand why external investors have an interest in
investing in the football economy and how they help to develop the football economy.
Finally, we will develop the collateral effects of the development of this economy, both
positive for the global economy and negative within the football world itself in terms of
inequality and corruption.
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.
Die Fachkräftenachfrage auf dem deutschen Arbeitsmarkt hat sich in den vergangenen Jahren verstärkt. Der Wandel zur Wissensgesellschaft sowie ein demografisch bedingter Rückgang der erwerbstätigen Bevölkerung haben bei Unternehmen den War for Talents entfacht. Die Rekrutierung der einheimischen Bevölkerung allein reicht nicht mehr aus, um den Bedarf an Fachkräften zu stillen und treibt Unternehmen deshalb vermehrt zur Personalrekrutierung aus dem Ausland. Die E-Recruiting-Plattform Campusjäger GmbH hat den Trend der internationalen Rekrutierung erkannt. Für sie wird im Rahmen dieser Arbeit der Frage nachgegangen, wie eine Rekrutierung ausländischer Fachkräfte den Personalbedarf der Unternehmenskunden verringern und somit das Umsatzpotenzial
der Campusjäger GmbH steigern kann. Dafür ist eine Internationalisierung der Campusjäger GmbH geplant. Im ersten Schritt wird die Fachkräftesituation auf dem deutschen Arbeitsmarkt analysiert. Da der Fachkräftemangel bisher kein flächendeckendes Problem
darstellt, wird der Bedarf an Fachkraftpersonal abhängig von Berufen, Regionen und Unternehmensgrößen ermittelt. Anhand von Sekundärquellen werden anschließend internationale Ländermärkte mittels einer dreistufigen Filtermethode untersucht, um dadurch Märkte mit Potenzial für die Rekrutierung detaillierter prüfen zu können. Eine Online-Umfrage an Studenten aus den attraktivsten Märkten Frankreich, Polen und Italien soll das Interesse und die Nachfrage dieser Studenten für eine Erwerbstätigkeit in Deutschland ermitteln. Die Arbeit schließt mit Handlungsempfehlungen für den internationalen Markteintritt der Campusjäger GmbH ab.
An Analysis of the Recent Developments in the Competitive Situation of the German Airline Industry
(2019)
This study analyzes the competitive situation of the German airline industry for short-and medium-haul flights. Developments within the industry’s market structure and its concentration as well as its attractivity are assessed with the help of a supply-and demand-model as well as an H.H.I. Index calculation and the utilization of the Five Forces Model. This is followed by an evaluation of the operations of the largest carriers in the course of a value chain, to determine how the incumbent operator Lufthansa is affected by the developments within the industry also in regard to competitive positioning. The study is finalized with a SWOT analysis in order to give recommendations as to how Lufthansa can improve its positioning and to see how the industry will develop further in the future. The results indicate a development from a monopoly to a Bertrand oligopoly with intense competition based on price, a trend that is further confirmed by high market concentration indicating an increase in power for the top three airlines but also more fierce rivalry between those carriers. The current market environment is notparticularly attractive and therefore difficult to operate in, especially for Lufthansa as a premium full-service carrier. Lufthansa’s largest difficulties are created by its high operational and personnel cost compared to its low-cost competitors. These expenses can be reduced by strategic investments into digitization and automation along with a fleet modernization in order to benefit from technological trends and meet the demand of the future’s passenger.
Benchmark Analyse - Einfluss des Faktors Digitalisierung auf die globale Produktionsstandortwahl
(2018)
Die folgende Arbeit beschäftigt sich mit dem Einfluss der voranschreitenden Digitalisierung der Länder auf die Produktionsstandortwahl. Hierzu wurde die Studie „Benchmark globaler Produktionsstandorte“ der Ingenics AG analysiert und um den Standortfaktor Digitalisierung erweitert um diesen messbar und damit vergleichbar zu machen.
Das Thema Digitalisierung wird genauer untersucht und es werden verschiedene, technologische Trends auf diesem Gebiet vorgestellt. Durch die Analyse dieser Punkte und mit Hilfe von externen Marktanalyse Tools wurden verschiedene Koeffizienten ermittelt, die zur Messung der Digitalisierung in der Studie verwendet wurden. Durch die Aufnahme des Faktors Digitalisierung konnte durch eine genaue Untersuchung der einzelnen Scores der Länder, deren Rang im Gesamtranking und verschiedenen Vergleichen, wie etwa einer Veränderung der Gewichtungsfaktoren, analysiert werden, wie es um den Einfluss der Digitalisierung auf die Standortwahl steht.
The purpose of this bachelor thesis is to find out whether there are indicators that point out a convergence of nonprofit and for-profit businesses. Therefore, various business concepts and the money markets of for-and nonprofit businesses are analyzed by implementing a qualitative content analysis. The results show that most of the concepts and both money markets show clear features of for- and nonprofit businesses. In conclusion, indicators of convergence could be identified.
Die Thematik der verschiedenen Vertriebsformate und die zunehmende Digitalisierung im Leben der Kunden wird in Zukunft immer wichtiger. Gegenstand der vorliegenden Bachelorarbeit ist eine Konzeptentwicklung für deutsche Premium-Automobilhersteller, um verschiedene Vertriebsformate bewerten zu können. Hierbei wird eine Möglichkeit aufgezeigt, um die Customer Journey transparent darzulegen und somit nachvollziehbar zu machen. Dies beinhaltet eine Analyse der Kundenpräferenzen im Rahmen des Automobil-Kaufprozesses. Daher wird das durch die Digitalisierung stark veränderte Kundenverhalten untersucht. In diesem Kontext wächst die Bedeutung des Vertriebsmodells. Somit werden die am häufigsten aufkommenden Vertriebsformate von Premiumherstellern betrachtet und die einzelnen Hauptprozesse verglichen. Dies dient dazu, die Prozesse im zu erarbeitenden Konzept zu pauschalisieren und somit eine Bewertung möglich zu machen. Gestützt wird dies durch Befragungen von Experten aus den verschiedenen Bereichen. Das Konzept kann als wertvoller Beitrag sowohl für die Praktiker im Automobilvertrieb als auch für die Forschung im Bereich Marketing dienen.
The demand and supply for clean label trend have been growing continuously during the last years. Consumers are increasingly choosing to buy products that contain health and sustainability information. The negative perception of additives, colorants, palm oil, gluten and Monosodium Glutamate has been discussed and has put the food industry for challenging and expensive product adaptations such as recipe changes and design rejuvenation. A literature review based on academic journals and books provides an understanding of the consumer action’s and the food industry’s reactions related to the clean label trend. Furthermore, factors that influence the rise of the clean label trend are discussed. Health and nutritional claims are defined. Additionally, the motivators of a food choice for German consumers are examined. Lastly, an eye-tracking study was conducted to gain insights into consumers visual attention to areas of interest on a stimulus.
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.