Publikationsserver der Fachhochschule des BFI Wien
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Internationalisierungsstrategien in Schwellenländer : Internationalisierung österreichischer Klein- und Mittelunternehmen in die Türkei
No full textIn times of globalization the world is getting more connected and services and goods
can be provided within the time of a mouse click. Enterprises overcome national barriers
by cross-border actions and can do business all over the world. This puts not
only industrialized countries in the focus of literature but also emerging market economies.
Emerging markets are well-known for their high and fast increase in economic
growth and population. Next to the BRIC-states there have been new emerging economies
that participate in global economy. One of these countries lies within Europe,
borders directly to the European Union and the Middle East countries and has demonstrated
a vast growth within the past 20 years. This emerging market economy is
Turkey. Turkey has an important geostrategic location and shows major potential for
Austrian enterprises. As Turkey and Austria have a long political history there are also
many Austrian companies looking for opportunities within a market with many possibilities.
Internationalization puts especially pressure on small and medium sized
enterprises as they need to act and think in a more global context.
Taking into consideration the fewer resources small and medium sized enterprises
possess in comparison to multinational companies it is even more essential that
when internationalizing the risks within the chosen destination must be low and the
growth potential high. Therefore, Turkey could be an interesting internationalization
destination for Austrian small and medium sized enterprises as the attributes provided
of the Turkish market could benefit those companies with fewer resources and
specialized knowledge.Wien, Fachhochschule des BFI Wien, Masterarb., 202
Impact of dividend-orientation on the market capitalization of a company
No full textDue to the current search for returns, investments in alternative instruments are becoming more and more important and interesting. One such alternative that still offers a certain kind of return is the share. Since the dividend makes up a considerable part of the income of a share, it is interesting to take a closer look at. Research in recent years has also increased the interest in dividends, as companies are able to send certain signals to the market with the help of the information contained in dividends. This gives the investor the opportunity to draw conclusions about the future development of the company. So, it shows that dividend-oriented behavior can bring advantages. However, this raises the question of what dividend orientation means and how such behavior can affect companies. For this master thesis the effect on the market capitalization is particularly interesting. A qualitative research approach was chosen to answer the research questions, as the effects on market capitalization on ATX companies has received relatively little attention. With the help of expert interviews and the existing literature, attempts were made to define the term dividend orientation in more detail and then to find out the extent of its impact on the market capitalization of ATX companies. This first step is necessary to find out whether it is worth doing further research in this area. Research has shown that the things one would associate with dividend orientation are not that important when defining this term. It is much more important that the cash flow, which is intended to generate the income for a distribution, is secured and protected under all circumstances. So, it can also happen that a company is regarded as dividend oriented even though it has reduced or discontinued its dividend in order to secure the continuation of the cash flow. The characteristics that can be described as dividend oriented naturally also have an effect on market capitalization. In the case of ATX companies, research has shown that due to the special features of the domestic index, dividend-oriented behavior seems to have only a minor impact on the market capitalization. Other factors have much more influence. Nevertheless, it is possible to say that dividend orientation has a stabilizing influence on the market capitalization of ATX companies.Wien, Fachhochschule des BFI Wien, Masterarb., 202
Paradigm Shift from Customer Relationship Management (CRM) to Customer Managed Relationship (CMR) in Banking Sector
No full textMany businesses from different industries use the potential of customer relationship management (CRM) in order to gain new customers and in the same time to keep existing ones and maximize their lifetime value. For building up a close relationship with customers, a strong coordination between IT and marketing departments will be required to provide a long-term retention of the customers. Even though there are many definitions on customer relationship management (CRM), in the simplest way possible it is possible to say that it is an approach, which helps a company to manage its interaction with current and potential customers. Customer relationship management uses data analysis about the history a customer has with a company in order to strengthen business relationships with customers, mainly focusing on keeping a customer and trying to enhance sales through cross-selling action. On the other side, customer-managed relationship (CMR) is an approach in which a business uses a methodology and software to encourage the customer to set up and manage the relationship, which he or she wants to have with the business. The difference to the previously mentioned approach is that in this approach the cus-tomer is in charge for building up the relationship with the company. Customer-man-aged relationship (CMR) can be viewed as an alternative to or as a logical evolve-ment of customer relationship management (CRM). This paper examines the issues of both CRM and CMR, as it focuses on depicting the shift between these two types of management approach. This is done especially in concern to banking sector, as it is relevant to understand how this shift affects the quality of services that banks provide and how it can influence the relations with customers. This is done by conducting the qualitative research on the issue. The research is conducted with the use of interviews, as six of people have answered the relevant questions and have given the insight on the issue.
The results of this paper indicate that banks are moving toward customer centricity and transferring a small proportion of control in customers’ hands. Banks are constantly working on development and improvement of tools that will enable customers to communicate through their preferred channels and in the way they want. Also, the results show that even though the term customer-managed relationship is not commonly used, this philosophy is already incorporated in approach that banks tend to follow.Wien, Fachhochschule des BFI Wien, Masterarb., 202
Wirtschaft und Management : Schriftenreihe zur wirtschaftswissenschaftlichen Forschung und Praxis / The Huawei paradox : cyber-risks in a deteriorating geopolitical climate
No full textIm sich verschlechternden geopolitischen Wettstreit zwischen den Vereinigten Staaten und China ist ein Unternehmen zum Symbol für potenzielle Risiken geworden: Huawei ist ein nationaler Spitzenkonzern im aufstrebenden Technologiesektor Chinas, wird jedoch von den USA und einigen ihrer Verbündeten als potenzieller Vektor für Cyber-Angriffe einschließlich Spionage und Sabotage gefürchtet. In einer technologisch vernetzten Welt besteht das Paradoxon darin, dass Firmen wie Huawei ohne Vertrauen und ohne internationale Zusammenarbeit diese Worst-Case-Risikoszenarien nicht widerlegen können. Die Logik des Huawei-Paradoxons bedroht die Entkopplung und provoziert die Verzweigung der Welt in zwei rivalisierende technologische Systeme, mit Auswirkungen auf die internationale Sicherheit, die internationalen Beziehungen und die internationale Wirtschaft. Eine politische Risikoanalyse und -bewertung kommt zu dem Schluss, dass die Risiken eher von geopolitischen Faktoren als von unternehmens- oder länderspezifischen Faktoren herrühren und daher (sofern der politische Wille vorhanden ist) nur auf der globalen politischen Ebene mit durchsetzbaren Regeln, Normen und Standards und auf der nationalen Regierungsebene mit Maßnahmen zur Risikovermeidung oder zum Risikomanagement und zur Risikominderung gelöst werden können.One firm has become emblematic of risk in the deteriorating geopolitical contest between the United States and China. Huawei is a national champion of China’s emerging technology sector but is feared by the US and some of its allies as a potential vector of cyber-attacks including espionage and sabotage. In a world of connected technology, the paradox is that in the absence of trust and international cooperation, firms such as Huawei cannot disprove worst-case risk scenarios. The logic of the Huawei paradox threatens decoupling and bifurcation of the world into two rival technological systems, with repercussions for international security, international relations and the international economy. A political risk analysis and assessment concludes that the risks originate from geopolitical factors rather than factors specific to the firm or country of operations and can therefore only be resolved (if there is political will) at the level of global governance with enforceable rules, norms and standards and at the level of national governance with risk avoidance or risk management and mitigation measures
Diamonds as asset class : a true diversification and return benefits
No full textA vast majority of studies and research papers address gold and other commodities as an alternative investment and explore their impact on an investor’s portfolio. The same could not be said for the diamonds, although the asset increases in popularity, there is still not enough research on the investment benefits of the pressure stone. Therefore, this paper aims to find the answer to the question, if diamonds offer similar diversification opportunities and benefits as the established financial assets named above.
Through a detailed quantitative comparison between three different portfolios consisting of stock, gold and diamonds, the performance of the pressure stones as an alternative investment asset will be carefully examined. For this purpose, risk adjusted portfolio measures will be used, in order for the key conclusions to be derived.Masterarbeit Wien, Fachhochschule des BFI Wien 202
Vertrauenskultur in Banken zwischen Mitarbeiterinnen und Mitarbeitern aus unterschiedlichen Kulturen
No full textThis master thesis deals with the topic of culture of trust in banks with a focus on the cooperation between people from different cultures. An Austrian private bank with the parent company from Turkey was used for the research. This thesis will answer the main research question, „What influence do bank employees cultural differences have on the culture of trust within banks?“ and two further research questions, „Are there communication problems in the bank due to cultural differences?“ and „If so, what influence do these problems have on the culture of trust?“ The main focus is on the Austrian and Turkish employees. In order to answer the research questions, a thorough literature search was carried out for this master thesis. However, since there are insufficient sources regarding the culture of trust in banks, the topic of trust in organizations had to be analyzed in general and the relevant definitions summarized for a comparison of the culture of trust in the banking sector.
This master thesis is divided into five parts. The introductory part includes an introduction to the topic and describes the research questions, the methodological approach and the structure of the work. Chapter two deals with general definitions of trust and definition of multicultural organizations and describes also briefly the problems in multicultural companies. The third part of the thesis is about the culture of trust in companies in general and the last chapter is the empirical part and covers the topic of culture of trust in the banking sector. In this part the results from the interviews and the processed theoretical part are compared. The conclusion is that cultural differences have a significant impact on the culture of trust in banks. Problems due to cultural differences such as the different approach to hierarchy, organizational culture, prejudices against other cultures and problems due to time management were identified.
Regarding the secondary questions, it was found that intercultural communication problems such as language skills and different communication styles arise and that these also have an important impact on trust in the company. In summary, it can be said that although the diversity in companies offers the organizations many advantages, qualitative resarch shows that, in multicultural companies can arise different trust problems due to cultural differences and these have a negative impact on the culture of trust in the bank.Masterarbeit Wien, Fachhochschule des BFI Wien 202
Auswirkungen der Corona-Krise auf die Arbeitswelt : eine Vergleichsanalyse zu vergangenen Krisen und Ermittlung zukünftiger Einflussfaktoren auf das Personalmanagement
No full textThe year 2020 stands for a worldwide pandemic crisis. The Corona crisis has become an international disaster that has affected people all over the world. In addition to the tragic death toll, which continues to rise, the crisis brings critical chal-lenges in different contexts. In March 2020 it reached Austria. In order to protect the population from the spread of the corona virus, the Austrian government imposed exit restrictions in mid-March with a Covid-19 measures law.
This radical measure resulted in the collapse of the economy, especially the labor market is affected. Over half a million people lost their jobs during this period and more than twice as many were registered for short-time work. It is clear that the economic conditions will continue to carry this crisis in the future. Despite the easing of measures, the world of work is far from getting completely back to normal. Instead, new conditions are emerging under which workers are operating on the labor market. How this situation will develop further cannot be predicted. Therefore, measures must be taken and conditions created to ensure the employment of qua-lified employees and the existence of the company.
The present study is intended to show these measures and conditions, which were used to manage the Corona crisis. In doing so, these measures will be set in relation to measures in past crises and future fields of action will be identified. It is about working out differences and parallels, recognizing patterns and deriving new crisis measures.The aim of this thesis is to provide an insight into the practice of human resource management with regard to crisis management in selected companies in Vienna, based on a qualitative empirical study. Subsequently, the present work aims to find out whether and what significance the Corona crisis has for the future of human resource managementMasterarbeit Wien, Fachhochschule des BFI Wien 202
Entwicklung eines Geschäftsmodells des Unternehmens TÜV AUSTRIA für die Aufzugsprüfung in Österreich im Zuge der digitalen Transformation
No full textIn the past, the lift industry could be described as a rather conservative sector. But for about 20 years now, this branch has been on the move. Year after year, a surge of innovations can be observed. Lifts and safety components deviate in many respects from the harmonized standards.
In addition, the term "Predictive Maintenance (PM)" has recently gained increasing importance. The goal of PM is to increase machine reliability and reduce maintenance costs.
The research question deals with the problem of how new lift components affect lift inspection. The new lift components are connected to the lift controller. Data get collected and finally analysed with algorithms. Due to the transformations that currently take place in the lift industry and the influence of PM by maintenance companies, the question arises how the business model of lift inspection in Austria must change at TÜV AUSTRIA.
There is also a need to promote knowledge management so that lift inspectors can expand their expertise through product training and exchange among experts as a result of shorter product life cycles and product innovations. The product innovations also accelerate the renewal of normative regulations. Knowledge of laws and standards also forms the basis of daily work. Therefore, knowledge must be constantly refreshed and renewed.Masterarbeit Wien, Fachhochschule des BFI Wien 202
The impact of language barriers and cultural differences on the performance of multinational organizations and companies : a comparative multiple-case study of multinational organizations and companies in Vienna
No full textA study was conducted to examine what language barriers and cultural differences are experienced within multinational organizations and companies and the impacts of these challenges are on their performance. The study target was also to understand the methods and measures that are used in order to address these challenges and reduce, limit and avoid their impacts on performance and how the HR professionals can help these organizations through their functions, methods, policies, practices and strategies. In order to understand the methods that are used by different multinational organizations, a qualitative approach was applied using a comparative multiple-case research design. The data was extrapolated using a method of semi-structured interviews to collect data. For the purpose of the study, experienced HR managers and professionals working for multinational companies and organizations were the target population. Findings of this research identify how language barriers and cultural differences impact the performance of multinational organizations and how different organizations address these differences. The study examines the language barriers and cultural differences that impact multinational organizations and their performance, it also identifies methods and measures used by these organizations to limit the impact of these language barriers and cultural differences.Masterarbeit Wien, Fachhochschule des BFI Wien 202
Wirtschaft und Management : Schriftenreihe zur wirtschaftswissenschaftlichen Forschung und Praxis / Political risk management as an imperative for the insurance industry – and beyond
No full textNicht nur, aber auch in der Versicherungswirtschaft nehmen politische Risiken eine wichtige Position unter Top-Managerinnen und Managern ein. Da sich die Versicherungsindustrie sehr unmittelbar mit politischen Risiken auseinandersetzen muss, ist sie auch gefordert, diese zu verstehen. Dieser Beitrag diskutiert, wie Versicherungen mit politischen Risiken konfrontiert sind, wie sie diese versuchen zu analysieren und zu managen. Aber es werden auch bedeutende Unterschiede zwischen Versicherungen und anderen Unternehmen thematisiert, um hervorzuheben, was andere Unternehmen von Versicherungen lernen können.Not only, but also in the insurance industry have political risks assumed a prominent position in the rankings about the most relevant concerns for executives. Since the insurance industry is very immediately dealing with political risks and needs to understand their very nature, this paper discusses in which ways insurers are confronted with political risks, and how they try to understand and manage these risks. However, also important differences between insurers and other companies are highlighted to understand, what the latter can learn from insurance companies