dr jurgen kontor

200
Over 200 Companies
Stand Behind HHL’s
Part-Time MBA Students
1
HHL is Germany’s
Best Entrepreneurial
University*
HHL
50
Over 50 Million Euros
Financing for HHL
Start-Ups in 2013
NEWS
LEIPZIG GRADUATE SCHOOL OF MANAGEMENT spring 2014 WWW.HHL.D E
Management Skills in Demand
for Health Care Professions
New from June 2014: MBA in General Management with a Hospital Management focus /
2014 CASiM Conference “Boundaryless Hospital”
With the appointment of Prof. Dr. Dr. Wilfried von Eiff as a new professor at HHL, the
school has fully arrived in the Age of Health
Care. The internationally renowned medical economist will provide fresh impetus
for the training and Executive Education
in addition to establishing the Center for
Health Care Management and Regulation
at the first business school established
in Germany. With these measures, HHL
responds to the challenges of disruptive
changes in the field of health care. Rising
costs and subsequent measures required to
increase efficiency in the health care field
on the one hand and fundamental technological changes on the other represent
specific growing challenges for managers
of hospitals and health care institutions.
With the part-time MBA with the Hospital Management and Health Services focus
starting in June 2014, HHL interlinks its
General Management approach directed
towards sustainable leadership in a unique
manner with new concepts and methods
for effective, responsible and innovative
management of health care institutions.
The participants expand their leadership
and management skills through interactive
learning based on actual cases and develop
innovative, solution-based plans and techniques using best-practice examples from
Germany and abroad in order to apply these
skills in their own organizations.
The target group for the 24-month on-thejob training offered in cooperation with
Universitätsklinikum Leipzig (Leipzig University Hospital) is doctors, executives from
hospitals, rehabilitation clinics and nursing
facilities as well as managers from the medical industry and health care associations.
Dr. med. Mohamed Ghanem, a surgeon at
Universitätsklinikum Leipzig who completed the part-time MBA program at HHL,
comments on the relevance of a management program for these groups of people,
“The program helped me to adopt a new
way of thinking and to assess a patient-oriented medical business from an economic
point of view as well.”
New: HHL also in Cologne
Germany's first business university will offer part-time
management courses in Cologne as of fall 2014
As of fall 2014, HHL will offer its part-time
programs in Cologne along with its Leipzig
location. Initially, the two-year universitylevel part-time Master Program in Management (M.Sc.) will be offered at the Cologne
MediaPark on the campus of the Fresenius
University of Applied Sciences.
choose whether they want to study in Leipzig or Cologne. The general rule will be: the
contents of the program will be the same in
Leipzig and Cologne and they will be taught
by HHL professors and experts from the industry. The residential weeks will always be
in Leipzig.
The weekend lessons will take place in Cologne, and there will be two residential
weeks per year in Leipzig. This will ensure
a close connection to the HHL community, just like the close link to HHL's Alumni
Chapter “North Rhine-Westphalia”.
As of 2015, the part-time MBA in General
Management will also be offered in Cologne.
In future, part-time students will be able to
According to Dean Prof. Dr. Pinkwart, HHL
initiates its part-time programs in the west
to enable professionals with intense jobs
and family obligations to take part in a challenging program locally. The HHL Dean
continues, “We see a very high demand especially for part-time offers at the university level. On the one hand this applies to
the part-time MBA for engineers, attorneys,
The classes of the Hospital Management
and Health Services focus include Process
Management & Medical Controlling, Innovation Management and Communication as
well as Human Resource Management. The
structure of the 24-month practice-related
on-the-job training is a combination of 3
block weeks and 16 intensive course weekends taught in Leipzig and Cologne. During
an international seminar week in Phoenix,
AZ, USA, the participants will gain extensive insight into the management of American best-in-class hospitals.
“Against the background of a
chronically underfunded
health care system, the participants of the part-time MBA
program with the new focus
on Hospital Management and
Health Services benefit from
innovative and solution-based
management concepts.”
Prof. Dr. Dr. Wilfried von Eiff
Academic Director of the Center for Health
Care Management and Regulation at HHL
Part-time MBA
with Hospital Management and
Health Services Specialization
Start: June 2014
Application closing date: April 30
The idea of leadership in the health care
field is also a topic at the 2014 CASiM Conference held at HHL on June 11-12, 2014 (see
also page 2). Entitled “Boundaryless Hospital – Rethink and Redefine Health Care Management”, this scientific conference will put
a management perspective on the hospital
and pharmaceutical company of the future.
hhl.de/chcmr
hhl.de/hospitalmanagement
hhl.de/casim-conference-2014
Duration: 24 months
Course locations: Cologne,
Leipzig, Phoenix, AZ, USA
Contact: Petra Spanka
[email protected],
Tel: 0341/9851730
hhl.de/hospitalmanagement
* 2013 Start-up Radar of the Stifterverband
Connection between Leipzig
and Cologne
HHL is connected to Cologne
through the father of German business studies, EuLocation
gen Schmalenbach, who
was one of the first graduates of the Leipzig Business
School in 1900 and who, after
his graduation, developed the
still young discipline first at the
Handelshochschule Cologne and from
1918 on at the University of Cologne, always
maintaining his connection to Leipzig.
Three years ago, HHL was the first universiHHL will present itself in the next few
ty level business school in Germany that ofmonths at the new study location in Cologne
fered a part-time Master of Science in Manwith informative meetings and open lecagement program. By offering the program
tures. Contact our new Business Developin the Rhine-Main-Ruhr area as well now to
ment Manager Ms. Anke Müller (anke.muelavoid long distance travel for the students,
[email protected]; M +49 151 23383521) for further
HHL contributes further to closing the big
information: hhl.de/cologne
national gap in the Bologna process.
doctors and others who want
to gain business knowledge
in addition to their specific initial degree to assume leading positions.
Study
We do, however, also
observe it in the field of
economics with those
who took a Bachelor's degree and went into practical work and who would now
like to take the next academic step
alongside their work.”
New
Cologne
02 HHL NEWS spring 2014
HHL NEWS spring 2014 03
Entrepreneurship
The Age of Health Care
HHL Named Germany’s Best Entrepreneurial University
New at HHL: Health Care Management in teaching and research
HHL has reached the age of health care, by establishing the Center for Health Care Management and Regulation no less. Germany's first business school provides fresh impetus in research and qualification in the field of health care with its part-time MBA program starting in
June 2014 and focusing on Hospital Management and Health Services as well as the discussion
on the topic of Boundaryless Hospital during the next CASiM Conference.
“Health requires education. This applies to
responsible patients
as well as to health
care professionals and
health care management. Good businesspeople are still in demand. However, the
modern-day management concept goes
way beyond this idea. Where business
meets social competence and flows into interlinked thinking, new, economically sustainable models of care can evolve. Not despite, but because they are focussing more
on the human being again.
“With its new Health
Care Management focus, HHL will broaden
the field for potential
start-ups founded by
its alumni. The demographic change is accompanied by many exciting entrepreneurial opportunities and challenges in the field
of health services.”
Dirk Graber
CEO Mister Spex GmbH, 1st Chairman of the
Association of Friends of HHL (AoF), HHL
alumnus (K15)
Dr. Michael Brinkmeier
President of Stiftung Deutsche SchlaganfallHilfe (German Stroke Foundation)
“We need an integrated understanding of
management, bridging
the gap between medical and managerial
competencies, today
more than ever. The
demand in this respect is comprehensive
and interdisciplinary. This is where HHL
found a gap, which it is going to close with
its new Health Care Management focus in
an excellent manner.”
“With the part-time
MBA with a Hospital Management and
Health Services focus
starting in June 2014,
the first business
school established in
Germany interlinks its General Management approach directed towards sustainable leadership in a unique manner with
new concepts and methods for effective,
responsible and innovative management of
health care institutions.”
Prof. Dr. Andreas Pinkwart
Dean of HHL Leipzig Graduate School of
Management
Prof. Dr. Dr. h.c. mult. Heribert Meffert,
Member of the Executive Board Center for
Advanced Studies in Management (CASiM),
HHL Dean from 1995 to 1997
“I consider HHL’s new
emphasis on Health
Care Management to
be very innovative,
particularly in the
MBA market. It broadens HHL’s portfolio
by focus on another industry, therefore
offering attractive links for the various
stakeholders from practice and science in
the field of health care as well as for students and alumni of the Leipzig business
school.”
“With its Health Care
Management focus,
HHL is one the nation's
trailblazers, implementing ideas of modern management in the
health care industry.
The crux is that doctors are often trained
far away from modern-day business ideas.
It has become an increasingly important
necessity to combine effective health care
with effective health care management,
particularly in the interest of the patients.”
Prof. Dr. med. Peter E.H. Schwarz
Medical Faculty, University Hospital Carl Gustav Carus Dresden at the TU Dresden
Katharina Rosenbohm (M7)
“Innovation and more
efficient management
in health care have
been long overdue.
Therefore, the parttime MBA program
with the new focus on Hospital Management and Health Services makes perfect
sense. With this program, HHL, also known
as a hotbed for entrepreneurs, will create
the perfect conditions for tomorrow's startups – the potential in the field of digital
health alon is gigantic.”
“There is no doubt
that the increasing age
of the population is a
positive indicator of
a successfully acting
society and its health
management. On the
other hand, increasing age means a growing number of patients and costs. We are far
from a concept dealing with the numbers
expected, the costs of which will presumably reach figures similar to the climate
problem not counting the staff necessary to
guarantee a life in dignity. There is only one
possible solution: an unconventional and
free approach with open eyes, fast.”
Philipp Legge
Christian E. Elger, MD, PhD, FRCP
Founder and CEO of SMARTPatient GmbH,
HHL alumnus (MSc2)
Director of the Department of Epileptology,
University of Bonn
Project Manager M&A, Bayer AG
HHL and Universitätsklinikum Leipzig (Leipzig University Hospital) have agreed to
cooperate within the framework of the part-time MBA program with the Hospital
Management and Health Services focus. From left to right: Ekkehard Zimmer (CFO of
Universitäts­klinikum Leipzig), Prof. Dr. Andreas Pinkwart (Dean of HHL), Prof. Dr.
Wilfried von Eiff (Academic Director of the Center for Health Care Management and
Regu­lation at HHL), Prof. Dr. Wolfgang E. Fleig (Speaker of the Hospital Board and Medical Director of Universitätsklinikum Leipzig) and Dr. Axel Baisch (Chancellor of HHL).
“The goal of the new
program offered at
HHL should be to
achieve more quality and efficiency
with costs remaining
stable or maybe even
decreasing in order to continue to care for
patients and their relatives on a high level
in the future while avoiding rationing.”
Prof. Dr. Dr. Wilfried von Eiff
Academic Director of the Center Center for
Health Care Management and Regulation, HHL
“Scientifically wellfounded education
and on-the-job training in current forms of
health care management have become
more important than
ever and require thorough and constant
SaVe the date
June 11-12, 2014
CASiM Conference 2014
Boundaryless Hospital –
Rethink and Redefine Health
Care Management
The Center for Advanced Studies in Management (CASiM) will devote its next annual conference “Boundaryless Hospital – Rethink and Redefine Health Care
Mana­gement” to academic exchange on
the challenges and opportunities of health
care systems, and to potential contributions by business economics to addressing them.
The conference will take place on June 1112, 2014 in Leipzig. It will begin with opening remarks by the head of the Executive
Board of CASiM, Prof. Dr. Andreas Pinkwart, and international keynote speeches on emerging trends, opportunities and
challenges of the health care sector in the
21st century (e.g. Dr. Ulf Schneider, Fresenius; Dr. Nicolaus Henke, M. McKinsey
and Co.), followed by talks discussing respective innovative strategic responses in
the hospital sector and the pharmaceutical industry.
During the second conference day, leading
experts from health care economics (Prof.
Dr. Dr. Wilfried von Eiff, HHL; Prof. Dr.
Manfred Dietel, Charité, among others)
and medicine (Prof. Dr. Michael Hallek,
up-to-date analyses of international experience to teach successful models in an insightful and logical manner.”
Prof. Dr. Frank Emmrich
HHL has received further acknowledgement as a hotbed for entrepreneurs. While the Financial
Times has been citing the first
business school established in
Germany as the worldwide leader in the field of entrepreneurship for years, now HHL reached
first place in the 2013 Start-Up Radar
ranking published by the Stifterverband
für die Deutsche Wissenschaft (Founder's
Association for German Science) encompassing all business schools and universities with up to 5,000 students. HHL, a staterecognized private university, performs
equally well in the four fields of the Startup Radar (entrepreneurial establishment,
awareness, support and activities), making
it a role model for other universities.
“The honors granted us by the Stifterverband bring us two perspectives. On the one
hand, we see them as an acknowledgement
of our innovate125 HHL Future Concept
with the entrepreneurial graduate busi-
ness school as its core. On the other, it is important that the new
federal states and Germany as a
whole have universities with an
entrepreneurship focus. With
HHL, the new federal states have
an excellent university which is
number one within its segment for
company foundations. These start-ups
are of vital importance as they promote
growth and employment,” says HHL Dean
Prof. Dr. Andreas Pinkwart. The stakeholders in entrepreneurship facilitation at HHL are three entrepreneurship-oriented chairs, the accelerate@
HHL student initiative, as well as SMILE
(Self-Management Initiative Leipzig), and
the Verein für Innovation, Existenzgrün­
dung und Wachstum (VIEW) an der Handelshochschule Leipzig e.V. (Association
for Innovation, Business Start-Up and
Growth at HHL).
hhl.de/
EntrepreneurialGraduateSchool
Director of the Fraunhofer Institute for Cell
Therapy and Immunology (IZI)
“The health care market is one the most
important employers
in Germany. There is a
lack of skilled employees in management.
HHL's new specialized
track in its MBA program addresses these
shortcomings. I congratulate HHL on this
action.”
Prof. Dr. med. Michael Hallek
Director of the Center of Integrated Oncology Cologne/Bonn, University Hospital of
Cologne
Uniklinikum Köln; Prof. Dr. Christian E.
Elger, Universitätsklinikum Bonn and
Prof. Dr. Friedrich-Wilhelm Mohr, Herzzentrum Leipzig) will elaborate on the
vision of the hospital of the future Universitätsklinikum. In two consecutive panels,
the characteristics and requirements of
the hospital of the future will be discussed
from business and health care economic
perspectives.
Key aspects of the business economic
panel, that will be chaired by Prof. John
Bessant (University of Exeter Business
School), are: i) new chains of value creation, ii) efficiency and quality management as well as iii) electronic health care.
In contrast, the medical panel, chaired by
Prof. Dr. Frank Emmrich (Universitätsklinikum Leipzig), will considered diseasespecific requirements for effective and
sustainable medical care systems.
Next, original research findings on aspects i)-iii) will be presented by (junior) researchers in three parallel panels chaired
by the academic directors of CASiM – Prof.
Dr. Horst Albach, Prof. Dr. Heribert Meffert and Prof. Dr. Ralf Reichwald.
The conference will conclude with a panel
discussion by top-class decision-makers
from the health care sector who will critically reflect on the vision of and the research findings on the hospital of the future unveiled earlier in the conference.
hhl.de/casim-conference-2014
1st HHL International Investors Day in June
HHL, one of Europe’s best entrepreneurship schools, will host the first HHL International Investors Day on June 18. This
unique event will bring together founders
with potential investors, established enterprises and successful start-ups from HHL
to promote an active exchange. The first international Investors Day's guiding theme
will be e-business and panel discussions on
the topics of e-commerce, e-health, and emobility will take place. In addition, there
will be an international call for tenders for
an idea competition, and the best business
concepts can be presented by the teams to
a high-caliber jury during the Investors Day.
The two best ideas will be awarded prizes.
The event's main purpose is to strengthen
the entrepreneurial network and the devel-
opment of the school's entrepreneurial profile. The event will be organized by HHL’s
Stiftungsfonds Deutsche Bank Chair of Innovation Management and Entrepreneurship in cooperation with the Schumpeter
Junior Professorship in Entrepreneurship
and Technology Transfer which is funded
by the Leipzig Foundation for Innovation
and Technology Transfer, as well as the Dr.
Ing. h.c. F. Porsche AG Chair for Strategic
Management and Family Business. Numerous well-known sponsors, such as Blue Corporate Finance AG, Deutsche Bank, KPMG,
SAM Sachsen Asset Management, and the
High-Tech Gründerfonds signaled that they
are prepared to support the event.
hhl.de/InvestorsDay
Growth Capital and More
4th Leipzig Entrepreneurship Lecture
and Accelerate Conference on May 9/10
in Leipzig
We cordially invite you to the 4th Leipzig Entrepreneurship Lecture on the topic “How to
manage creativity in start-ups”, which takes
place in Leipzig on Friday, May 9, 2014, at 2 pm.
We are glad to welcome Prof. Dr. Alexander
Brem, Professor of Technology & Innovation
Management from the University of Southern Denmark, as guest speaker and are looking forward to an interesting panel discussion
with experts from academia and practice.
The lecture is presented during the Accelerate Conference 2014. On May 9 and 10, 2014,
the annual Accelerate Conference entitled
“Big Data – Now!?” takes place at HHL. Rep-
resentatives of various companies and industries will attend the conference and share
their knowledge with the students in exciting
presentations. The students not only have the
opportunity to build up a valuable network
but also to participate in a pitch with a professional judging panel. The winners will receive
great prizes.
You can register for the conference online at
accelerateconference.hhl-students.de.
Information about the 4th Leipzig Entrepreneurship Lecture can be found here: hhl.de/
leipzig-entrepreneurship-lecture.
New EXIST Scholars at HHL
Our HHL alumni Robin Buschmann (K21) and
Bastian Lechner (K21) as well as two further
team members received the well-known EXIST Gründerstipendium of the Federal Ministry for Economic Affairs and Energy with
a total value of EUR 90,000 for their financial services start-up. Kicking off in January
2014, a first workshop with their EXIST mentor Prof. Dr. Manfred Kirchgeorg, Chairholder
of the SVI-Endowed Chair of Marketing, esp.
E-Commerce and Cross-Media Management,
helped to develop a suitable strategy to establish a new brand in the consumer banking market. Additionally, the obligatory EXIST coach, in this case Eric Weber, supported
the application process for the scholarship as
well as the business plan development and
other pre-foundation issues. Currently, two
more teams are preparing an EXIST application at HHL. Interested applicants should
contact our SMILE coaches Nagwan Abu
El-Ella, Dorian Proksch or Eric Weber, all of
whom are Research Associates at Stiftungsfonds Deutsche Bank Chair of Innovation
Management and Entrepreneurship. For further information go to hhl.de/innovation.
The Self-Management Initiative Leipzig, also
referred to as SMILE, is a cooperative venture
of University of Leipzig, HHL Leipzig Graduate School of Management, Leipzig University of Applied Sciences, Helmholtz Zentrum für Umweltforschung (UFZ) and AKAD.
SMILE is financed by the European Social
Fund, the Saxon State Ministry for Economic Affairs, Labor & Transport and the Saxon
State Ministry for Science and Arts.
CAREERS
Minu Chawla
Founder of RoadsWellTraveled.com
Minu Chawla (MSc1) recently founded Berlin-based RoadsWellTraveled.com, a home decor website for the conscientious consumer. Before beginning her entrepreneurial journey, she worked as a finance
and strategy analyst at Microsoft.
Alexander von Fritsch
3 Questions for Julia Derndinger
Managing Director and Co-Founder of Petobel
Start-ups with a good business idea, a good team, and a working business
model can pick their investor. This is what Julia Derndinger says, who
works as a trainer for entrepreneurs and is a member of several boards
of directors (since 2013 at XLHealth AG amongst others). She guides companies and entrepreneurs on their way to success. The HHL graduate (K7) answered “3 Questions” for HHL news.
Why is venture capital financing so important in Germany?
German or European companies need
growth capital in order to be able to compete in international markets. A German
company has to expand into many different
countries, and to deal with different langu­
ages and legal system. Reaching the European market is costly but needed in order
to make the economies of scale work to the
benefit of the start-up.
The contact with the VC manager: Which dos
and don’ts do you see for the founder?
Generally all VCs and investors are looking for good ideas, good teams and a working business model. If the start-up is wellequipped in these three areas it is usually
well prepared for negotiations with VCs. Important questions start-up founders should
ask themselves: is the investor a partner
with whom he/she would want to work for
the next three to five years? Does the inves-
tor share the same vision for the company?
I recommend being accompanied by a neutral person during the negotiations, and to
define the process beforehand. That is one
service I offer under my brand “die Gründertrainerin”, besides helping founders to
find the best ways to build and run their
companies.
Is the call for “more capital” enough?
I think financing capital for start-ups is
available in Germany. What is often missing
are exit partners and easier ways for investors to sell equity shares in start-ups. Bergfürst showed a first approach in regards to
that and created a new type of market. How
this approach will be accepted remains to
be seen. The legal side of all kind of equity
investments should be simplified by the authorities, and tax benefits to balance out the
considerable risks involved would certainly
improve the investment climate.
After six years with McKinsey, together with an ex-colleague and
with ProSiebenSat1 as primary investor, Alexander (K19) launched
Petobel as an e-commerce company focusing on the European pet
care market.
Olga Gollej
Managing Director of the International Gluck
Opera Festival
Following her part-time MBA studies at HHL in 2013, Olga, 31, (P7)
was appointed managing director of the International Gluck Opera
Festival. Held in Nuremberg as a biennale, the International Gluck
Opera Festival is one of the most important German festivals for early music.
Dr. Birgit Sponheuer
Vice President Portfolio Development Europe,
Grünenthal GmbH
Dr. Birgit Sponheuer, 37, who completed the doctoral program at
HHL in 2009, was appointed Head of Portfolio Development Europe at Grünenthal, an international, research-based pharmaceutical company, as of March 2014. In this role she will drive Grünenthal’s European business
expansion via acquisitions and in-licensing deals. Previously, Birgit was in charge of the
commercial strategies and evaluations for all clinical and pre-clinical stage projects and
opportunities. She joined Grünenthal in 2011 after working at Roland Berger Strategy Consultants for more than ten years.
04 HHL NEWS spring 2014
HHL NEWS spring 2014 05
Programs
CAMPUS
We Support HHL’s innovate125 Future Concept
Strategic and International Management
Portrait of the New Academic Group Structure
Part of HHL’s innovate125 Future Concept
is the organization of the business school's
research and teaching activities around
five thematic groups: Strategic and International Management; Finance, Accounting and Corporate Governance; Economics
and Regulation; Sustainability and Competitiveness, as well as Innovation and
Entrepreneurship.
In this article we present the Strategic and
International Management group with its
head Prof. Dr. Stephan Stubner (Porsche
AG Chair for Strategic Management and
Family Business), as well as its faculty Prof.
Radha Sharma, Ph.D. (ICCR Chair for Corporate Responsibility and Governance), Jun.Prof. Dr. Tobias Dauth (Alfried Krupp von
Bohlen und Halbach Junior Professorship
in International Management), Prof. Dr. Torsten Wulf (Adjunct Professor for Strategic
Management and Organization, Academic Director Center for Strategy & Scenario
Planning), Prof. Dr. Burkhard Schwenker
(Honorary Professor for Strategic Management and Organization, Academic Director
Center for Strategy & Scenario Planning), as
well as a yet to be appointed professor who
will act as Academic Director for the new
Arend Oetker Center for Business Psychology and Leadership.
The Strategic and International Management group researches topics such as the
strategy and governance in entrepreneurial organizations and family firms (Prof. Dr.
Stubner), the role and impact of top management teams as well as the internationalization of small and medium sized firms in
Germany and Poland (Jun.-Prof. Dr. Dauth),
organizational leadership, change management as well as emotional intelligence in an
cross-cultural context (Prof. Sharma), and
strategic long-range planning and scenario
planning (Prof. Dr. Wulf, Prof. Dr. Schwenker). In 2013, the group members published
three books, 13 journal articles, three working papers and presented ten papers at international conferences. Prof. Dr. Stubner
says, “Our group contributes to the HHL
vision as well as HHL’s innovate125 Future
Concept. Besides aiming at achieving a visible lead role in our field of research, our
goal is to provide high quality theory-based
teaching and coaching which is reflected in
the careers of our alumni as well as in student satisfaction. We, too, foster the continuous and acknowledged transfer of knowledge into a firm’s practice.”
The department's teaching provide a broad
basis for education in strategic and international management. The group members teach nine comprehensive courses in
HHL’s M.Sc. programs and 13 courses in the
school’s MBA programs. Often, experienced
external lecturers from academia and practice are integrated into the group’s educational offerings. Different focus areas contribute to the transfer profile of the group.
The Porsche AG Chair, for instance, offers
active mentoring for the new associations
VC Club, HHL Angels as well as the Family
Business Network. The Alfried Krupp von
Bohlen und Halbach Junior Professorship
on the other hand collaborates with the
Leipzig-based Fraunhofer MOEZ to establish a network and cooperation between the
stakeholders of the CEE growth markets.
The Center for Strategy & Scenario Planning
provides, in addition to consulting projects
for companies and institutions, a know-how
‘pool’ with a scenario library and a methodological toolbox. Besides this, the ICCR
Chair offers individual and organizational
stress management consulting.
HHL’s Re-Accreditation According to
New AACSB Standards
AACSB on-campus visit of the peer review
team from January 26th to 28th: (from left to
right) Professor Roy “Chip” Wiggins (Dean
of Business and McCallum Graduate School
of Business, Bentley University), Professor Harry Garretsen (Dean of the Faculty
of Economics and Business, University of
Groningen), Professor Finley Graves (Dean
of College of Business, University of North
Texas , Head of the peer review team), HHL’s
Executive Management Prof. Dr. Andreas
Pinkwart and Dr. Axel Baisch.
During the visit of the team, the HHL community had the opportunity to present the
HHL Future Concept innovate125, its goals
The Leipzig Chamber of Commerce and Industry Supports the Development of HHL
and aims as well as the business school in
general. After receiving the first draft of the
accreditation report in mid-February, HHL
hopes to receive the final decision on its reaccreditation by mid-March.
AACSB is the best known accreditation
agency for business schools and regarded as
the benchmark for business school quality.
HHL was the first German business school
accredited by AACSB in 2004. In 2013/2014,
HHL is one of the first business schools applying for accreditation according to the new
AACSB standards, which particularly focus
on innovation, impact and engagement.
aacsb.edu
Together with the COGNOS AG, the Association of Friends of HHL and the Kramer
Foundation, the Leipzig Chamber of Industry and Commerce is a shareholder of HHL.
The support for the innovate125 HHL Future Concept is thereby building a bridge
between HHL's older and newer history and
its future challenges of research and teaching as well. HHL was founded in 1898 by an
initiative of the Leipzig Chamber of Commerce, as it was known back then, and reestablished by the Leipzig Chamber of Industry and Commerce in 1992.
With regard to the development in the past
few years, the Chamber’s President Wolfgang Topf says, “HHL managed to make a
name for itself both in the national and the
international scientific community. For the
future, we wish the school many dedicated
students which will continue to strengthen the economic region of Leipzig as junior
managers or through the successful foundation of enterprises.”
leipzig.ihk.de
Internationalization Strategy in Line
with Future Concept
Each year around 100 HHL students spend
a term abroad at one of our partner universities and likewise over 100 incoming exchange students enrich HHL’s academic
programs every year. In order to foster an
intensive experience of the respective culture of the host country, HHL’s policy is to
send a maximum of two students to a partner institution at the same time.
In order for this program to continue being
a success, Frank Hoffmann (center), Director of International Relations, maintains
close contacts to HHL’s partner universities
and develops the network according to the
goals set in “innovate125”.
Mr. Hoffmann, further serves as HHL’s Director of Financial Aid. This includes overseeing scholarships for foreign students
and HHL-students for their study abroad
and processing loans under the US Title IV
Program.
In 2013 alone, scholarships
for around € 360,000
were given to around
120 students.
The main source of these scholarships
are funds from the German Academic Exchange Service.
The Assistant Director, Heather Metcalfe
(right), takes care for outgoing students
– what means she is also responsible for
quality control of study abroad periods.
This is done, by among other things, a detailed comparison of course content for
outgoing students as the basis for their
transfer of credits.
The assistant directors for incoming students are supervising and counseling
our guests with the aim of securing their
academic success, while at HHL. “Regular” incoming exchange students stay at
HHL for one or two terms, while remaining students of their home university. Selection of these students is the responsibility of the respective home university.
These ‘nominated’ students are accepted
by HHL in each case within the framework
of agreements between HHL and its partners. Course selection for regular incoming
exchange students is undertaken by their
home universities. Léa Jund (left), Assistant Director, notes, “Formal agreements
are merely the basis and I enjoy being involved in the intercultural integration of
our guest students.”
New Flexible Structure in the Full-Time
MBA Program
In order to meet the individual requirements and career aspirations of its national
and international students, HHL now offers
a Fast Track option for its full-time MBA
program in addition to the Advanced Track
version. While the Fast Track may be completed after a 12-month period on campus
plus three months for the master thesis, the
extended Advanced Track is set up to take
21 months. The Fast Track program mainly addresses the needs of participants with
five or more years of professional experience, allowing them to return to work from
studying after only one year. The longer
Advanced Track program is an option best
suited for junior executives with three to
five years of professional experience and for
international students. The benefits of the
Advanced Track include a greater variety
of electives, an optional term abroad, an internship and/or a German language course,
which might be of particular interest to the
international participants. New in August
2014 is a German language course prior to
the start of the full-time MBA program. Further information: hhl.de/mba
Campus
Conference Report 2013 “Leadership and
Communication” Released
In the just released report on the
HHL Forum 2013, HHL Dean Prof.
Führung neu denken
Dr. Andreas Pinkwart comments
on the conference topic “Leadership and Communication”, “Company leaders are facing new challenges due to higher complexity
and dynamic changes. Beyond the
content, the form, style, and strategy of communication are playing
more and more important roles in the effectiveness of leadership and the faith in it.
New media offer completely new possibilities. They offer new chances to get customers
and staff involved individually, but increase
complexity and the risk of information gaps
and inconsistencies as well.” At the HHL Forum 2013, which was sponsored by the Heinz
Nixdorf Foundation and the HHL Kramer
Foundation, well respected representatives
from the economy, politics and science such
as Achim Berg, Prof. Dr. Kurt Biedenkopf,
John B. Emerson, Dr. Jürgen Hambrecht and
Dr. Heinrich Weiss were participating in disFührung und
Kommunikation
Konferenzbericht
cussions. Their presentations and
thoughts can be found in the conference report. The HHL Forum is
part of a process for the development of a new Leipzig Leadership
Model for sustainable corporate
leadership. HHL aims to support
the dialogue between theory and
practice in economics which has
come under criticism of the appropriate professional propriety and relevance, and offer better leadership concepts
for decision makers.
hhl.de/hhl-forum
SaVe the date
November 19/20, 2014
Rethinking Leadership –
Market and Morality
Contact: [email protected]
10th Anniversary of the Beta Gamma
Sigma Chapter
As one of eight AACSB-accredited business
schools in Germany, HHL hosts one of the
only two German chapters of Beta Gamma
Sigma (BGS), the world’s first truly global
honor society for business. This year, HHL
celebrates its 10th anniversary as a chapter
of BGS.
Membership is increasingly recognized as a
mark of academic excellence, and every year
the chapter invites the top 20 percent of
graduates from HHL’s programs and all who
have completed HHL’s doctoral program to
become members.
During graduation ceremonies at HHL, a
Beta Gamma Sigma scholarship is awarded
to an outstanding student. This scholarship
amounts to USD 1,000 and is funded jointly
by the BGS Central Office in the USA and the
Association of Friends of HHL (Gesellschaft
der Freunde der HHL – GdF).
Besides managing exchange programs and
coordinating the funding of scholarships,
the department is also involved in academic activities. Once a year a summer program
is organized composed of interesting topics
designed especially for students of HHL’s
partner schools. Lastly, the department is
actively engaged in programs organized in
cooperation with partner schools such as:
the Global Executive MBA, where Mr. Hoffmann was appointed as HHL’s Co-Director, as well as the Euro*MBA where he was
elected Head of Academic Council of all six
participating schools.
hhl.de/international
Learning About Digital Marketing
and More at MIP Milan
At the beginning of February, eight HHL
MBA students travelled to Milan for a seminar in Multichannel Marketing at HHL’s Italian partner university, MIP (Politecnico di
Milano School of Management) with the digital marketing expert, Prof. Dr. Fabrizio Maria
Pini (Head of Marketing Programs at MIP).
As they arrived on Friday afternoon, MIP
welcomed us with a short campus orientation, followed by a student-organized happy
hour at a fashionable bar in the heart of the
city, where we got to know the students we
would be working with that weekend, as well
as others who will be visiting HHL in March.
The next morning, our professor held a short
lecture before sending us off into groups to
begin working on our marketing campaign.
research and teaching at the first business
school in Germany is a matter close to our
heart.” HHL Chancellor Dr. Axel Baisch comments, “The collaboration with MIBRAG is
such an exciting and attractive cooperation
for us because a large company from Central Germany, which has expanded internationally, contributes to our cause while using our specialized knowledge at the same
time.” Just recently, the company helped to
support the renovation of HHL's new Academic House as part of the HHLNewCampus crowdfunding campaign. Additionally,
MIBRAG is the co-sponsor of one of the National Scholarships as well as of the Energy
Conference in 2014.
mibrag.de
Over the next few days, we would work in
these groups to do extensive market research and design a targeted, multichannel
strategy for expanding online sales in the
U.S. market of two Italian brands; Lavazza
coffee and Eataly food stores.
At the end of the seminar, we not only understood digital marketing in a totally new
light, but we took away a unique perspective
on Italian life, studies, business and – most
importantly – cuisine.
We look forward to welcoming some MIP
students to our campus this spring, and
hope to show them (almost) as good of a time
as they have shown us!
Pamela Taylor (M14)
The Global EMBA at HHL
It was an exciting moment to have the two
intakes of our Global EMBA together at HHL
from December 8 to 13, 2013. The “experienced” group from the 2012 intake met the
“new” group from 2013 for the first time.
While the class of “Gemba2” was very busy
with academic coursework and topics like logistics and accounting, for “Gemba1” every­
thing about innovation management was
discussed and enjoyed, e.g. the new electric and electrifying BMW3i. Reunited at
the Leipzig Christmas Market in the evening, both groups exchanged their experiences and enjoyed not only tippling delicious
mulled wine, but also one of the largest and
most beautiful Christmas Markets in Germany with around 250 twinkling stalls centered
on the city’s historical market square.
Both groups highlight the customized approach of the program, not only using the
research knowledge of the professors, but
also by sharing experiences amongst fellow
classmates. Participants in both groups were
challenged to define visions and to prepare
strategies. The program was a real success
story for all.
Dr. Eva Gattnar, who works at Siemens AG,
studies in the GEMBA 2 class. She says, “The
residential week in Leipzig provided me the
opportunity to develop a deeper understanding of basic business topics like business
planning, financial accounting, operations
and logistics along with quantitative analysis. Additionally, we had the great opportunity to visit Porsche in Leipzig and to get a
really realistic impression in which way innovative logistics is implemented in the automotive industry. I'm really looking forward
to attending the next residential weeks!”
hhl.de/gemba
Scholarships for the Global
Executive MBA Program
The next Global Executive MBA Program starts on September 28, 2014.
We are offering several scholarships for
outstanding candidates, Scholarship application deadline is on June 30, 2014.
Applicants can also benefit from the
early bird discount of 10 percent if they
apply before May 31, 2014.
More information:
hhl.de/Global-Executive-MBA
Euro*MBA: “Green Innovation” Was Examined during the Residential Week at HHL
“Which composer was born in Leipzig?” –
this question and numerous creative tasks
during a city rally in the heart of Leipzig
kicked off the residential week in Leipzig
from January 11 to 17 for the 70 participants
of the Euro*MBA Program.
hhl.de/awards
HHL and MIBRAG Collaborate
HHL and Mitteldeutsche Braunkohlengesellschaft mbH (MIBRAG), a mining company headquartered in Zeitz, Saxony-Anhalt,
are taking their collaboration to a whole
new quality level. With the assistance of
HHL, the international mining company
would like to develop executives in the future. In addition to training for current employees using the framework of the Master
programs at HHL, MIBRAG wants to approach potential interns and new employees for the company using the school's Career Service. Furthermore, there will be field
projects with HHL students and new events
in the area of Executive Education. Dr.
Joachim Geisler, Chairman of the Executive
Board of MIBRAG, says, “The promotion of
Programs
The Euro*MBA Program is an innovative
two-year MBA program based on e-learning for executives. It combines the latest
technologies in the field of distance learning with compact sojourns for classes at six
European universities.
For eight days, the students dealt with current issues on the topic of Green Innovation.
They not only learned
about “Unintended consequences of innovation” or “The promise
of green tech” and other
aspects of this innovation topic, but also prepared a project on Open
Innovation, which was
presented at the end of
the week. A visit to the
Leipzig BMW plant manufacturing the BMW
i3 electric car provided insight into one of
the most innovative companies in Germany.
The week was rounded off by a great concert
night at the famous Leipzig Gewandhaus.
The Euro*MBA students, on average 36 years
old with around eleven years of professional
experience, coming from about 25 countries
from all over the world, assessed the week at
HHL as the best residential week by far of the
entire Euro*MBA Program.
hhl.de/euromba
06 HHL NEWS spring 2014
HHL NEWS spring 2014 07
The recent research of André and Frank
has dealt with the systematic inclusion of
solidarity into distribution schemes. In recent years, theorists have tried to balance
solidarity with performance orientation.
When asked about the issue of urban dynamics, which is central to the 2015 CASiM
Conference, Frank is smiling. “In his seminal contribution, Young (1985) gives a nice
motivating example. He considers the problem of how to share the benefits that occur
if several cities use infrastructure together.” Although this is now a classic paper in
theory, practical implementation is far from
being standard. This can only change if scientists meet managers and the leaders of tomorrow during a phase in their lives when
they are still willing to invest time in learning about new solutions. “Theory is sometimes hard to learn,” Frank claims. “But at
its best, it offers a clear way of thinking that
is even harder to forget.”
Solving challenging case studies on a high
level and presenting the results convincingly is natural for HHL students. Again they
were able to succeed at the KPMG International Case Competition (KICC). On November 30, 2013, two teams from the Master of
Science class MSc 7 won: Miriam Amedick,
Lisa Wasilewski, Ina Köchling and Alexandra Schneller from the Chair of Accounting
and Auditing (Prof. Dr. Henning Zülch), as
well as Thomas Maier, Tony Meyer, Steffen
Suttner and Philipp Veit from the Chair of
Financial Management (Prof. Dr. Bernhard
Schwetzler) won the regional
qualifications in Frankfurt/
Main against 57 teams that
were appointed by professors of selected chairs. HHL is
therefore sending two out of
the six winning teams to the
German final in Berlin.
During the competition a challenging case study on guerilla
marketing in the field of the
premium smart phone market had to be
completed in the course of two hours. Afterwards, the results were presented in English
to a jury of KPMG employees. Philipp Veit
says that the experience from the Problem
Solving and Communication course of the
first term took effect. “The application of
our training under ‘real’ conditions, inclu­
Chair of Financial Management
Winner of the HHL Research Award for 2013 is Ms. Christin Rudolph.
Ms. Rudolph (in the center) received the
award, which, for the first time, was awarded during the HHL Forum 2013 and includes a € 500 endowment, from HHL Dean
Prof. Dr. Andreas Pinkwart. Prof. Dr. Bernhard Schwetzler (left), the Chairholder of
the Chair of Financial Management where
Ms. Rudolph is studying for her PhD, men-
tioned in particular the publication of the
paper “Conglomerates on the rise again? A
cross-regional study on the impact of the
2008-2009 financial crisis on the diversification account” in the Journal of Corporate
Finance which he completed together with
the awardee.
The HHL Research award was once again
endowed by Martens & Prahl Versicherungs­
kontor GmbH Leipzig and its executive director Peter Dorsch (right) who is also a
board member of the Association of Friends
of HHL, which frequently funds the award.
hhl.de/awards
“Hot Topic” Conglomerate Discount
“There is nothing more practical than a good
theory,” Immanuel Kant is claimed to have
said . However, in the research on conglomerate discount, the developments in Asia,
the U.S. and Europe in the years of crisis
have led economists to review their theories.
location of resources. Based on a German
sample, they show that the conflict between
different shareholder classes is more important than the one between shareholders and
management.
In a third paper, published in March’s Journal of Banking and Finance, Christin Rudolph and Professor Bernhard Schwetzler
investigated more deeply the way conglomerate discounts are determined, thus questioning the standard method currently used.
They recommend using, first, excess values
based on enterprise values instead of firm
values, thus subtracting the cash and securities holdings, and, second, geometric mean
aggregated industry multipliers instead of
median aggregated ones.
Finally, The Economist discussed some of
our results in its issue from January 11, 2014,
which hopefully helps transfer a good theory on the conglomerate discount into practice just as Kant thought.
HHL has just
published its 2014
Research Report.
It is embedded in
HHL’s innovate125
Future Concept.
In order to meet
the urgent societal challenges
in the fields of
healthcare, energy, sustainability and
demography even more effectively, the
faculty counters the ongoing trend of
isolated research in the various subdisciplines of business administration
with an increased exchange amongst
these sub-disciplines as well as tighter
inter- and trans-disciplinary crosslinking. For this purpose, the faculty chose
a topic-based group structure targeting effective and responsible entrepreneurial decisions in companies and
founded an overall cross-group Center
for Advanced Studies in Management
(CASiM).
As reflected in the industry structure
of the alumni network, HHL is closely
connected with the core areas of business administration – strategy, finance
and accounting as well as innovation
and entrepreneurship. Consequently,
the school is continuing to develop into
an ideal research partner in society’s
central fields of the future – healthcare,
energy, mobility, resource efficiency,
societal and demographic change –
through its topical focal points of sustainability and competitiveness as well
as economics and regulation.
hhl.de/research-report-2014
companies, i.e., CBS Information Technologies AG as a developer for ERP-solutions,
Audi AG as a manufacturer of premium cars,
BLUe Services GmbH as a wind park operator and service provider, Continental Automotive GmbH as a supplier for the automotive industry as well as representatives
of the automation industry Hiersemann
Prozessautomation GmbH and XENON
Automatisierungstechnik GmbH. These
partners will provide the opportunity for
interviews, empirical studies, surveys, observations and field experiments.
CLIC will contribute its expertise in the
fields of service productivity and of sustainable business models for services (Prof. Dr.
Ralf Reichwald) to S-CPS as part of an interdisciplinary consortium of research institutions. S-CPS is funded by the German
Federal Ministry of Education and Research
within the overall framework of the government’s High-Tech Strategy. This three-year
project is part of the Industry 4.0 initiative.
countries. The book “Discontinuous Innovation” by P. Augsdörfer, J.
Bessant, K. Möslein, B. von Stamm
and F. Piller explains the significance and benefits of managing
discontinuous innovation and presents several case studies of companies that have already successfully made the leap to integrating
a new approach to situations of dramatic
change. Written in a simple and accessible
manner, this book printed by Imperial College Press (London 2013), will be of interest
to both practitioners and academics alike.
clicresearch.org/
discontinuous-innovation/
Dr. Ing. h.c. F. Porsche AG Chair of Strategic
Management and Family Business
Joint Doctoral Research Colloquium at HHL
On January 29 and 30, the Porsche AG Chair
of Strategic Management and Family Business continued a long-standing tradition
of joint doctoral research colloquiums on
recent developments in Strategic Management and Family Firm research. Prof. Dr.
Hungenberg (Friedrich-Alexander-Universität Erlangen-Nürnberg), Prof. Dr. Torsten
Wulf (Philipps-Universität Marburg), Prof.
Dr. Andreas König (University of Passau)
and Prof. Dr. Stephan Stubner (HHL) and 30
doctoral students came together and discussed their current research projects in a
constructive atmosphere. Participant Sabina Dienemann said, “This seminar was
a great opportunity to receive fruitful feedback and provided me with new ideas on
improving my current research topic.” The
next joint research seminar will be held at
the University of Passau in June 2014.
From left to right:
Prof. Dr. Andreas
Pinkwart (HHL),
Prof. Dr. Hans-Jürgen
Kirsch (WWU Münster), Prof. Dr. Stefan
Dierkes (University of
Göttingen), Prof. Dr.
Henning Zülch (HHL)
HHL Alumnus Appointed Assistant Professor at Vrije Universiteit Amsterdam
Since September 2013, HHL alumnus Dr.
Dominic Detzen has been affiliated with
the Vrije Universiteit (VU) Amsterdam as
an Assistant Professor of Accounting, joining a strong research department of about
40 academics who are active in all areas
of accounting, ranging from management
accounting and control over financial accounting to corporate law. Dr. Detzen received his PhD in 2013 from HHL’s Chair of
Accounting and Auditing under the supervision of Prof. Dr. Henning Zülch, writing
on “Conceptual and Historical Underpinnings of Accounting”. At VU University, he
will continue his research, which primarily
focuses on the development of financial ac-
counting thought as well as the history of
accounting institutions and the accounting
profession. Pursuing these research interests, Dr. Detzen recently visited HHL again,
where he continues to collaborate with the
Chair of Accounting and Auditing, primarily with Dr. Sebastian Hoffmann. Jointly
with Prof. Lisa Evans of the University of
Stirling (UK), Dr. Hoffmann and Dr. Detzen
conducted the first round of interviews in a
research project that is funded by the Chartered Accountants Ireland Educational
Trust. The project examines the accounting
profession in the aftermath of German reunification and will lead the three researchers to interviews throughout Germany.
Campus
Horizon 2020: New HHL Brochure Shows
Partnership Opportunities
a challenge. It will require a partner
Horizon 2020, the eighth “Research
who possesses an application-orientand Innovation Framework ProHorizon
ed
approach, carrying out the necesgramme of the European Union, rep2020 –
sary accompaniment research, imresents the core of EU research fundplementing the findings and shaping
ing and is one of the largest public
the innovation cycle conceptually and
research and innovation funding promethodically. We want to introduce
grammes worldwide. The European
HHL as an experienced partner for
Commission has again gone a big step
both - research and method development as
forward by now focusing even more on innowell as implementation in complex systems.
vation projects and assuring that the funded
Please contact us – and we will put together
projects have a substantial benefit for conthe necessary economic skills for your Horisumers and markets. For all consortia, who
zon 2020 project. Find more information in
want to apply for grants this also means that
the brochure “Horizon 2020 – Partnership
a detailed concept on further steps in developportunities”, which you can download
oping innovations to successful and sustainfrom our website hhl.de/horizon2020 or
able products and services will be essential.
order via e-mail: [email protected]
Therefore working with a whole innova(Director Research Funding,
tion cycle approach will be the solution for
T +49 341 9851-886)
a successful Horizon 2020 program but also
HHL aS INNoVatIoN ENgINE
Leading-Edge Cluster BioEconomy
The Excellence Cluster BioEconomy is a project in the region of Central Germany, funded by the Federal Ministry of
Education and Research, which focuses on the integrated
material and energetic utilization of non-food biomass for
the production of materials, chemicals, energy carriers and
products from new materials.
Intelligent Energy Europe –
Project “EmPower”
The aim of the EU-funded EmPower project is to support
the dissemination of intelligent energy technologies
which are already available, but whose potential remains
largely unexploited due to a lack of experience or technical
knowledge by secondary users.
Chair Members Support the Business Education Initiative business@school of BCG
In the business@school initiative of global
consulting firm BCG – The Boston Consulting Group, over 2,000 students of secondary
schools all over Germany engage in practical business education. This year a school
from Leipzig took part for the first time.
The 15 and 16-year-old students analyze the
business model of global and local companies, finally developing their own business
Based on presentations given by Prof. Axel
Haller (University of Regensburg), Prof.
Rolf Uwe Fülbier (University of Bayreuth)
and Prof. Jens Wüstemann (University of
Mannheim), the delegates’ discussions
focused on integrated reporting, methodological pluralism in accounting and
the challenges posed by current developments in accounting and tax regulation.
Prof. Hans-Jürgen Kirsch (University of
Münster), Chairman of the VHB’s Accounting Section, concluded the meeting
by stating that “the Accounting Section
was proud to be at HHL as the cradle of
business research and accounting as an
academic discipline. The discussions and
debates we had at this historically significant place will help us to further strengthen our research and to educate responsible accountants.”
clicresearch.org/projects/
Just Published
How do firms pick up weak signals
on emerging - and possibly radically different - innovation? What
should firms do when these weak
signals hit their mainstream process? What are the criteria for allocating resources to a strategic
innovation project? What actions
should firms take to avoid being
left out by the corporate immune system?
And how should firms organize projects
that often break existing rules and require
the creation of new rules? The Innovation
Lab Research Group (innovation-lab.org)
has taken stock after ten years of research
in more than hundred firms and thirteen
This year’s annual meeting of the Accounting Section of the German Academic
Association for Business Research (VHB)
was held at HHL on February 20-22, 2014.
More than 70 accounting professors from
German speaking countries assembled to
discuss the current issues in accounting
research and education which are leading
the way to shaping the future of accounting at universities in Germany, Austria,
Switzerland and South Tyrol.
Focusing on Empirical Accounting Research, the meeting was opened by a scientific workshop conducted by Prof. JörgMarkus Hitz (University of Göttingen) and
Prof. Thorsten Sellhorn (WHU Vallendar).
Both professors introduced state of the art
empirical research methods applied in accounting and provided an outlook on future developments in the field.
idea and presenting it in front of a jury.
Members of the Porsche AG Chair of Strategic Management and Family Business supported the initiative as members of the jury.
Research Associate Kati Roleder said, “We
were impressed how well the students presented their project results and are looking
forward to supporting the initiative again
next year.”
for HorIzoN 2020
The following diagram shows how we define the whole
innovation cycle in teaching and research. The sample
projects show our expertise in research projects, what
we mean by application oriented research and how we
transfer the results. We offer to create individual cooperation opportunities and involve our network in Horizon
2020 projects.
Leading Innovation and Sustainable
Competitiveness – whole Innovation
Cycle approach
HHL is internationally but also locally very good connected
with partners from science and industry since many years.
Numerous joint projects encouraged by German ministries,
the EU commission, foundations and corporations contributed to our network.
CliPoN
The aim of CliPoN is to contribute to a better qualitative
and quantitative understanding of the interconnected
mechanisms of climate policy, trade, endogenous international technology diffusion, economic development, crosscountry convergence and carbon leakage.
HHL network consist of
_ 110 partner universities all over the world
_ Scientific organizations in Germany and Europe
_ leading Dax 30 Companies, international and regional
companies, family firms, SME
_ of various industries including energy, bioeconomy,
automotive, transport / logistics, healthcare, e-commerce, retail, software, chemistry and pharma etc.
idea
man /Coag Cr
em
gy
te
ra ding
l
ui
Venture Capital
_ and 130 companies founded by HHL alumni so far
The project “Strategic Management in Early Stage Venture
Capital Funds” is a Longitudinal Analysis of Success Factors like risk management, internationalization or the personal characteristics of the founders in German Funds.
Current Situation
Innovation in the Service Sector:
ServProf and ServProd
The aim of ServProf is the establishment of a sustainable
innovation culture in service by utilizing the spare potentials in professionalization and design. ServProd focuses on
theoretical and methodological underpinnings of service
productivity and the design of new models, concepts and
measurement instruments.
ProfIt from HHL NEtwork
mark
e
resea ting
rch
In general, the discount’s magnitude depends on the state and efficiency of the external credit and capital markets. Thus,
Christin Rudolph and Professor Bernhard
Schwetzler analyzed the impact of the fi-
From left to right: Prof. Dr. Bernhard
Schwetz­ler (Chair of Financial Management), Prof. Dr. Henning Zülch (Chair
of Accounting and Auditing), Steffen Suttner, Miriam Ame­dick, Thomas
Maier, Philipp Veit, Dr. Georg Flascha
(Head of the Leipzig branch of KPMG AG
Wirtschaftsprüfungsgesellschaft)
Cyber Physical Systems is the new concept
that translates the Internet of Things to networked value creation. In January 2014, the
Socio-Cyber Physical Systems research project (S-CPS) was launched at the Center for
Leading Innovation and Cooperation (CLIC).
It focuses on the role of humans as providers of knowledge intensive services in Cyber
Physical Systems. This issue is particularly
important for highly technology-driven industries in which large networks and embedded value creation with numerous suppliers and clients are the norm. In a B2B
world of commerce, intelligent and semiautonomous machinery “order” services
are provided by highly-skilled human workers. Interestingly, Germany has a reputation
for such industries, e.g. car manufacturing,
machine tool industry, and the regenerative energy sector. As a consequence, understanding the human role in CPS along with
the principles of sustainable business models for such services is of crucial interest to
Germany.
In order to investigate this issue, the project
S-CPS can profit from a number of partner
n
tio
ea t
en
Researchers, consultants and investors usually rate diversified companies worse than
companies focusing on one economic sector.
On the stock market, this undervaluation
represents a discount on the market rate for
conglomerates. In academic literature the
discount is commonly derived by comparing a firm’s actual corporate value with the
value of a matched portfolio of stand-alone
firms.
nancial crisis on the discount in the September 2013 issue of the Journal of Corporate Finance. They found that during the financial
crisis the conglomerate discount fell both in
Europe and in America. In the Asia-Pacific region the discount not only turned into
a premium but even rose during the crisis.
The relative improvement of the conglomerates’ valuation was the strongest in areas
with more efficient external markets, thus
supporting the above hypothesis.
Inefficient capital allocation due to an agency conflict between corporate managers and
shareholders is generally considered the
main driver behind the conglomerate discount. Christin Rudolph, Markus Brendel
and Professor Bernhard Schwetzler identified an agency conflict among the shareholders as an additional important source:
it is a conglomerate’s high complexity which
makes it easier to control than for minority shareholders to extract private benefits
which again can result in an inefficient al-
The two teams received their prize from Dr.
Georg Flascha, head of the Leipzig KPMG
branch on February 7, 2014, qualifying them
for the German final from February 28 to
March 2, 2014 in Berlin, which is only meant
to be a stopover. The final of the biggest case
study competition in the world for students
will take place in São Paulo, Brazil from
April 1 to April 4.
New:
HHL Research
Report 2014
HHL Research Award 2013
Every year, HHL awards junior scientists
whose publications, conference contributions, and colloquia greatly contributed
to current scientific discussions during
the previous year with the HHL Research
Award.
ding the presentation in front of the jury
who ‘plays’ the customer is surely fine-tuning and a reality check.”
Back to the Roots: German Accounting
Professors at HHL
S
b t
Together with Dr. André Casajus of the Chair
of Economic and Information Systems,
Frank finds himself in an international network of researchers who also contribute to
his DFG project. Consequently, the DFG decided to sponsor a workshop at HHL in 2015.
Aside from their basic and purely theoretical research, they see manifold opportunities for application. “Nowadays, we have the
knowledge to motivate several distribution
rules to be the only fair solutions in certain
situations. Using these rules, we not only
establish a fair outcome, but we can foster
trust as we operate on a fair and mutually
agreed basis,” Frank explains. This becomes
particularly interesting within the context
of networks.
“If we know how to identify individual productivity, we should
think about how to redistribute
without the violation of too many
fairness principles that endorse
a high performance.” The results
might also have a practical application for HHL’s research area Health Care
Economics and Management of Health Care
Institutions. “Clearly, an extensive redistribution process is taking place in the healthcare sector. We hope that we can help to
make this redistribution somewhat fairer, at
least that well-motivated fairness principles
enter the focus of decision makers.”
Two HHL Teams among the Top Six
BMBF-Funded Project S-CPS Kicked off
CHAIR OF ACCOUNTING AND AUDITING
and multi
ting geme
nt
rke
ana
ma nel m
a
Ch
Since fall 2013, the German research
foundation (DFG) has taken up the
financing of the fundamental research of Dr. Frank Hüttner at HHL.
His research project (HU 2205/1-1)
deals with the fair and reasonable
distribution of commonly created
gains. It is located at the intersection of game
theory and statistics.
Center for Leading Innovation & Cooperation
business
DFG Research Fellow at HHL
CAMPUS
el-innovatio
mod
n
Chair of Economics and Information Systems
today
PoSSible PathS of DeveloPment
PoSSible futureS
futurE
Scenario Planning
What will my industry look like five or ten years from now?
What products will customers buy in the future? How will
Asian economies evolve with their growing middle class?
The joint initiative of HHL and Roland Berger Strategy Consultants supports scenario projects for companies, governmental institutions and other organizations by developing,
evaluating and monitoring scenarios.
_ as well as institutional research funders such as
_ European Commission
_ Federal Ministry of Education and Research
_ Federal Ministry for Economic Affairs
and Energy
_ Saxon Ministry for Science and Art
_ Saxon Ministry for Economic Affairs, Labour
and Transport
_ German Research Foundation
_ Research-oriented Science Foundations
_ Private Enterprises
_ Donors’ Association for German Science
(Stifterverband)
_ and the German Academic Exchange Service
Partnership opportunities
08 HHL NEWS spring 2014
Upcoming Events
March 17
Enrolment Ceremony with keynote speaker
Dr. Marc Schumacher, Chief Retail Officer,
Member of the Board of Tom Tailor Holding
AG and HHL MBA graduate
March 27
HHL@Roland Berger Frankfurt, Open lecture “Innovative Scenario Planning and its
Implementation”
March 31
Leipzig Leadership Lecture with Roland
Koch (Former Premier of the Federal State
of Hesse, Chairman of the Executive Board
at Bilfinger SE) and Scholarship Day
April 1
Start-up Career Fair
April 11
HHL Master Information Day
April 12
GMAT Seminar for Beginners
April 25-27
XVIII. European Ivy League
May 9/10
Leipzig Entrepreneurship Lecture “How to
manage creativity in start-ups” and
Accelerate Conference “Big Data”
May 22/23
Energy Conference “Energy Storage and
Transportation”
Application Deadlines for HHL’s
Study Programs
Full-time M.Sc. Program:
June 20 (intake September)
January 15 (intake March)
Full-time MBA Program:June 30
Non-EU applications: May 30
Part-time M.Sc. Program/
Part-time MBA Program: January 15
Part-time M.Sc. Program Cologne:
June 20 (intake Fall)
Global Executive MBA: August 31
SVI-Endowed Chair of Marketing
June 11/12
CASiM Conference 2014
“The Boundaryless Hospital – Rethink and
Redefine Health Care Management”
June 14
GMAT Seminar for Beginners, Cologne
June 18
HHL International Investors Day
June 27
Researchers’ Night in Leipzig
July 3
Leipzig International Lecture with
Dr. Lazar Comanescu, Ambassador
of Romania in Germany
August 30
Graduation
September 5
HHL Managers Colf Cup
September 8
Enrolment Ceremony
October 2
Leipzig Leadership Lecture with Dr.
Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank
November 5
Leipzig Leadership Lecture with Götz
Werner, founder and Partner of the
dm-drugstore group
November 19/20
HHL Forum 2014 “Market and Morality”
Upcoming Alumni
Events
March 25
Alumni Talk “Fireside Chat”
with Denis Ranke (M11) at Senate Room,
Schmalenbach Building
June 12
HHL Alumni Chapter Meeting Hamburg
June 19
HHL Alumni Chapter Meeting London
June 26
HHL Alumni Chapter Meeting Leipzig
First Scholarship Day at HHL
The Leipzig Leadership Lecture
with the former Prime Minister of Hesse and current Chairman of the Board of Bilfinger SE,
Roland Koch, is included in the
event. From the National to the
Women in Business Scholarship:
numerous scholarships will be
awarded to HHL students on that
day. During the reception and the
opportunity to attend a campus tour, the
scholarship sponsors can interact with the
scholars, the school’s management and the
HHL community.
Carolin Schäfer (MSc11), who has just started her M.Sc. program at HHL and has been
How can companies label a product’s environmental impact to guide consumers in
an environmentally-conscious way without
creating consumer confusion or evoking
negative associations?
HHL’s Chair of Marketing aimed to take a
closer look at consumers’ perceptions of selected product statements to support the
efforts of a group of industry and retail experts in defining communication standards
by means of a sustainability glossary. In
cooperation with the GfK Verein and supported by the Akademische Partnerschaft
akademische-partnerschaft.org, more
than 20 environmental claims such as “CO2compensated” or “50% less greenhouse gas
emissions” were tested in a representative
online survey with 999 respondents in January 2014.
Claims on returnable packaging such as
“100% recycling material” were thoroughly
understood by more than two thirds of German consumers, whereas about two thirds
of the consumers rated climate-related
claims as more or less difficult to comprehend. Nevertheless, about two thirds believe that information on the product’s climate impact and the related labelling on the
product's packaging are rather important.
Apart from quantitative analyses, consumers' individual associations will be explored
in-depth for each claim in order to reveal
what consumers really know about these
claims and whether certain misconceptions
have to be overcome.
Challenges in Retail Marketing:
E-Commerce Meets Traditional Retail
On February 5 and 6, Prof. Dr. Manfred
Kirchgeorg discussed new trends in retail
marketing with practitioners, analysts and
researchers at the “Deutscher HandelsWerbekongress” in Cologne. During intensive dialogues it turned out that customer
centricity along the customer journey on
the one hand, and the ideal combination of
on- and offline channels on the other hand,
will be the key success factors in retail marketing. With his research expertise in the
fields of cross-media management and ecommerce, Prof. Dr. Manfred Kirchgeorg
could clearly point out and confirm the relevance of these topics in the future. It became
clear that the real challenge for retailers is
not to gain customer-related information.
The critical point is to understand the customers by using and interpreting “Big Data”
intelligently. Furthermore, there is no “right
or wrong” for retailers by using different
channels in communicating with customers and selling products. It was emphasized
that online activities like mobile marketing
or social networking preferably use pull instead of classical push strategies. Whereas
offline channels need to focus on the optimal activation of customers e.g. using live
communication instruments which then
result in customer loyalty. In addition to the
question which channels will be chosen, retailers need to cope with the challenge of
how to allocate the budgets for these channels. Finally, practitioners and researchers agreed in one point: a customer focused
cross channel excellence, following the customer journey, is vitally necessary in all retail sectors.
SaVe the date
Campus
On Monday, March 31, 2014, from
11 a.m. to 2 p.m., HHL will hold
the first Scholarship Day for its
students.
What Do Consumers Really Associate
with Greening?
awarded the Effective and Responsible Leadership Scholarship, is excited, “From my years at
HHL I expect a high-quality education in step with actual practice, which challenges me and
helps me to advance professionally and personally. I am also excited about the term abroad and
look forward to a vivid exchange
of ideas with the other students.”
Her classmate Benjamin Krapf
(MSc11) adds, “The scholarship
not only facilitates the funding of
my studies at HHL, I also consider
being accepted into the circle of scholars an
acknowledgement of my success so far and
feel motivated to continue to perform well
in the future.”
hhl.de/scholarships
Impressum
Publisher: HHL Leipzig Graduate School of Management | Jahnallee 59 · 04109 Leipzig · Germany
Tel.: +49 341 9851-60 · Fax: +49 341 9851-679 | e-mail: [email protected] · Internet: www.hhl.de
Publication Date: March 17, 2014 | V.I.S.D.P.: Prof. Dr. Andreas Pinkwart, Dean of HHL
Editors: Executive Management of HHL: Prof. Dr. Andreas Pinkwart, Dr. Axel Baisch
Editorial Board: Volker Stößel (MBA) Concept: CLAUS KOCHTM | www.clauskoch.com
Photos: HHL | Frequency: quarterly | ISSN 1433 934X | ISSN 1867-8017
Thank you to all contributors and proofreaders of this edition.
The American Way. The U.S. in Germany
From “the land of unlimited opportunities”
to “Ami, go home”: hardly any other country
causes so many emotions and polarizes as
much as the United States. Germany’s history
following World War II is difficult to imagine
without the influence of the United States.
The exhibition “The American Way. The U.S.
in Germany” is dedicated to this special relationship. It is open to the public at Zeitgeschichtliches Forum Leipzig from April
2 to October 12, 2014 and features about
Hospital
Management
& Health
Services
1,000 exhibits and media stations – from a
“Captain America” Harley Davidson to handwritten notes by Elvis Presley. “The American Way”, among other things, also shows
the relationship between the first business
school established in Germany and the U.S.
with the Honorary Doctorate Certificate
awarded by HHL in 2008 to Prof. Michael
Porter, PhD, university professor at the Institute for Strategy and Competitiveness at
Harvard Business School. hdg.de/leipzig
Courses in
Cologne, Leipzig,
Phoenix/USA
Management
Competencies
for the Health Sector
Apply now for June 2014!
Tel +49 341 9851-730, www.hhl.de/hospitalmanagement
Part-time
MBA