Chair Report 2013

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Chair Report 2013
Chair Report 2013/ 2014
Dr. Ing. h.c. F. Porsche AG
Chair of Strategic Management
and Family Business
“Inspire and Empower”
2013/14
CHAIR REPORT 2013/14
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CHAIR REPORT 2013/14
CHAIR REPORT 2013/14
PREFACE
“Strategy is about action, about doing
something…there is no greater tool for
sharpening strategic ideas than the
necessity to act.”
Richard P. Rumelt
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CONTENT
PREFACE
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CONTENT
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1. WHAT IS THE CHAIR ABOUT
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2. WHO WE ARE
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2.1. Members of the core team
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2.2. Contributors and Partners in 2013/2014
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3. RESEARCH
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3.1. Research activities of the Chair
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3.2. Supervised master theses of the Chair
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3.3. Research Collaborations
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3.4. Conferences
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4. TEACHING
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5. TRANSFER
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5.1. HHL Entrepreneurs Day
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5.2. HHL Start-up Career Fair
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5.3. MACHER 25 – Der große Wirtschaftspreis des Ostens
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5.4. HHL Venture Capital Club
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5.5. HHL Family Business Network
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5.6. Field Projects
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5.7. Other Transfer activities
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6. CENTER FOR STRATEGY AND SCENARIO PLANNING
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6.1. Center for Strategy and Scenario Planning
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6.2. Research: The value of scenario-based strategic planning
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6.3. Disruptive scenario planning
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7. PUBLICATIONS
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IMPRINT
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CHAIR REPORT 2013/14
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1. WHAT IS THE CHAIR ABOUT
Inspire and Empower
Dr. Ing. h.c. F. Porsche AG is the initiator and sponsor of the Chair of Strategic
Management and Family Business at HHL Leipzig Graduate School of Management.
With own roots in being a family business and recently having embarked into a major
strategic campaign (known as the Porsche AG 2018 agenda), the worldwide
recognized leading creator of sports cars committed itself to this important contribution
to education and research in a region where it produces its Porsche Cayenne, Porsche
Panamera and Porsche Macan cars.
HHL Leipzig Graduate School of Management has a European, if not worldwide
reputation for superior management education and research. In fact, many official
rankings as the ones published by Financial Times or the Stifterverband see HHL as
one of the leaders in their field. Also AACSB, the dominant international accreditation
organization for Business Schools, appreciated the high quality of HHL when awarding
the university with an unconditional 2nd reaccreditation in 2014.
I was lucky enough to be asked to head the newly established Dr. Ing. h.c. F. Porsche
AG Chair of Strategic Management and Family Business. And although I did have
several alternatives at this time – most notably from one of the most prestigious
German universities for Family Business, with a great and welcoming team – I happily
decided to join the faculty of HHL for good. It was not an easy decision in the end, but
ultimately my legacy at HHL, and the prospect to work together with a committed
sponsor provided a tipping point. Since 2007, I had already been associated with HHL
as its Academic Director of the Entrepreneurship Program and during this time I have
come to understand the inherent competencies of this organization, driven by a great
student body, committed supporting administration and a motivated and studentoriented faculty. Besides, Leipzig is a great city to live in.
Porsche AG provides me with the space to develop my own research and education
agenda – always being available as a sparring partner, but else very supportive in
terms of the priorization I take. I am especially grateful to Lutz Meschke, CFO of
Porsche AG, the head of CSR Dr. Martin Meyer, Dr. Joachim Lamla, CFO of Porsche
Leipzig, and Stefan Althoff, Head of HR at Porsche Leipzig GmbH, as important contact
at the local Leipzig Porsche branch. I also enjoyed many constructive discussions in
the Porsche HQ, for example with Konstanze Marinoff, Andreas Walingen and Jürgen
Rittersberger. Ultimately, Matthias Müller, CEO of Porsche and Speaker at e.g. the
graduation ceremony at HHL in 2013, is to thank for his engagement for HHL and the
Chair.
So what is the Chair about? We teach Strategy. And we do this in a way that we aim
to inspire students to embrace strategic thinking and empower them with the
frameworks and mindset to be successful in it. We help our students to develop into
critical thinkers and doers with a solid understanding of strategy tools and (especially
in the M.Sc. program and the executive programs) the underlying theories. I hope that
students that take our courses become more structured in their thinking and that they
develop practicable competencies into deriving and implementing strategies and
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CHAIR REPORT 2013/14
strategic plans. I want to convey to them that Strategy is one of the fundamental
cornerstones of organizational success, whether you are a manager in a large
corporation, run your own family business or develop your start-up company. And
furthermore, I want them to understand, that good Strategy is very much like good
Entrepreneurship. I invite many speakers into our courses to support this viewpoint (or
in some cases support a contradictory viewpoint to have a possibility for discussion)
and especially focus on family businesses in a capstone-course that helps students to
critically reflect on what they have learnt in their business studies.
Students and their learning curve are important to us at the Chair. But we also put an
emphasis on the general learning curve of management science, i.e. we do Strategy
research. Driven heavily by the research associates at the Chair, we currently have
two main research fields: One area of interest is Governance in Family Firms, e.g.
which importance has trust, how can external managers be successful in a family firm
setting and how are boards different in family firms. The other key area is in the field
of Strategic Decision Making. Here, we want to understand which factors lead to better
decisions of managers, both in corporations and start-up companies. Currently, three
research associates and two external Ph.D. candidates are working in these two areas,
supported by several master thesis students and of course myself.
Besides teaching and research, another important area of Chair activities is transfer.
Mainly, transfer means supporting the “innovate 125” agenda introduced by the Dean
of HHL, Prof. Dr. Andreas Pinkwart. Following the cornerstones of the mission behind
the agenda, to educate responsible, effective and entrepreneurial business leaders,
the members of the Chair are active in a variety of different initiatives. Overall, I am the
Head of the Group Strategic and International Management at HHL that oversees e.g.
the Strategy elective. I also mentor the student initiative “Venture Capital Club” and
support the HHL alumni business angel network. Before joining academia, I was
personally involved in the formation of several online start-ups as co-founder. Still
today, I am an active business angel and run Venture Capital firm Monkfish Equity
together with the founders of trivago.com (all of them HHL alumni). I am also active as
an elected member of the board of the Association of HHL friends e.V. (AoF). Together
with many other HHL alumni founders I here try to foster the entrepreneurial spirit at
HHL. We for example organize the bi-yearly HHL Start-up Career Fair, sponsor the
entrepreneurship student initiative Accelerate, the Venture Capital Club and the
International Investors Day at HHL. Most importantly, the AoF organizes the HHL
Alumni Entrepreneurs network and regularly provides forums for experience, exchange
and networking.
There is much more about the Chair that would not fit into the few pages I had planned
for the introduction. Still, I hope I was able to give you an impression of what the
Porsche AG Chair of Strategic Management and Family Business is about. Any
feedback is highly appreciated. And if you want to become part of the further
development of the Chair, as a contributor, supporter or external Ph.D. student, please
do not hesitate to get in touch with me.
CHAIR REPORT 2013/14
Yours sincerely,
Prof. Dr. Stephan Stubner
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2. WHO WE ARE
2.1. Members of the core team
Prof. Dr. Stephan Stubner
Prof. Dr. Stephan Stubner is the Chairholder of the Dr. Ing. h.c.
F. Porsche AG Chair of Strategic Management and Family
Business at HHL. Prior to that, he worked as an Assistant
Professor for Strategic Management & Organization at HHL. As
Academic Director he has successfully established HHL’s
Entrepreneurship Program. Prof. Dr. Stubner is an active
contributor in the HHL-Roland Berger Center for Strategy and
Scenario Planning and in HHL Executive Education programs.
Before his academic career he gained extensive experience in
consulting when working for The Boston Consulting Group. He
also co-founded two online companies and supported many
other start-ups as mentor, coach and investor. In addition to
that, Prof. Dr. Stubner has a broad teaching experience at top
national and international universities such as WU Vienna,
ENPC Paris, and IMD Lausanne.
Sabina Dienemann, M.Sc.
Ms. Dienemann is Research Associate at our Chair. Ms.
Dienemann graduated from HHL where she received her M.Sc.
degree majoring in Strategy, Entrepreneurship, Marketing and
Advanced General Management. In 2012, she spent a term
abroad at the University of Louisville, USA. Before joining HHL
she received her B.Sc. degree in Business Administration from
the Catholic University of Eichstätt-Ingolstadt. Her work
experience includes Dr. August Oetker KG, goetzparters
MANAGEMENT CONSULTANTS, PAYBACK GmbH and Peek
& Cloppenburg KG Düsseldorf. Her research area is
governance in family firms.
CHAIR REPORT 2013/14
Dipl.-Medienwiss. Kati Roleder
Ms. Roleder graduated from the Technical University of Ilmenau
where she received her diploma in Applied Media Sciene.
Before joining HHL, she spent several years abroad to work in
the English automotive sector. She also gained work experience
in the German marketing and media industry. Ms. Roleder is the
assistant to Prof. Dr. Stubner. In addition to her responsibilities
at the Chair, she works as a Research Associate at the HHL Roland Berger Center for Strategy and Scenario Planning and
pursues her doctoral thesis in the area of Strategic Leadership
and executive succession.
Philipp Veit, M.Sc.
Mr. Veit is Research Associate at the Chair. He supports the
teaching and research activities of the Chair and supports a
young start-up company in his spare time. He holds a M.Sc. in
Management from HHL Leipzig Graduate School of
Management as well as a B.Sc. in Business Administration from
the Catholic University of Eichstätt-Ingolstadt. During his time
there he was on the board of different student initiatives and a
campus ambassador for Teach First Germany. He studied and
lived in the U.S., Great Britain, India and Germany and gained
practical experience in different positions in strategy consulting
and the automotive industry. His research focuses on board
effectiveness in start-ups.
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Patrick White, M.A.
Mr. White joined the Chair as Research Associate after working
for the web-based radio station detektor.fm in Leipzig. He
studied at the TU Dresden, the UNL Lisbon and the University
of Leipzig. Thereafter he received his M.A. degree majoring in
Political Science, besides minoring in Cultural Sociology. For his
B.A. degree from the University of Leipzig, he majored in Social
Science and Philosophy, while interning at the German
Embassy in Zagreb, Croatia. He principally coordinates the
entrepreneurial award "MACHER 25 - Der Große
Wirtschaftspreis des Ostens" at the Chair.
External Doctoral Students
Matthias Baumann, M.A.
Mr. Baumann is external doctoral candidate at the Chair. He is
a member of the German National Academic Foundation, and
graduated with a M.A. in Strategy and International
Management at the University of St.Gallen, Switzerland.
Concurrently, he pursued a double degree in Business
Administration with Nanyang Business School, Singapore, and
completed a B.Sc. degree in Business and Economics at JMU
Würzburg, Germany. Before his graduate studies, Mr. Baumann
gained several years of working experience in various
companies specializing in corporate finance and consulting.
Besides working on his dissertation, he is also involved in the
leadership of a family-run group of companies in the
engineering and construction sector. His research interests at
HHL traverse both strategy and corporate governance of family
firms.
CHAIR REPORT 2013/14
Dominik Kanbach, M.Sc.
Mr. Kanbach is external doctoral candidate at the Chair. He
holds a M.Sc. in Management majoring in Strategy, Finance and
Marketing from HHL and a B.Sc. in International Business
Administration from the University of Applied Sciences
Ludwigshafen which he received in practical cooperation with
BASF. Since 2012 he works for the strategy consulting firm
Stern Stewart & Co. in the Munich office. As Senior Associate
he advises international clients in consulting projects focusing
on organization and performance management. In this context
he also supports the teaching activities of the Porsche AG Chair
of Strategic Management and Family Business over the last
years. His research focuses on the startupization of large
corporations.
2.2. Contributors and Partners in 2013/2014
We are thankful to have a strong network of partners and
contributors. They help us to provide world-class education to
students and serve as role-models and inspirations through
guest lectures and discussions. Many of our partners also
collaborate with the Chair in a variety of research activities.
Affiliated Professors
Prof. Dr. Torsten Wulf
Prof. Dr. Torsten Wulf holds the Chair of Strategic and
International Management at Philipps-University Marburg. In
addition, he is an Affiliated Professor at HHL Leipzig Graduate
School of Management. His main research areas are family
firms, behavioral strategy and scenario planning.
After studying business administration at the universities in
Mainz and Hagen, he did his post-graduate studies at HHL and
went on to write a postdoctoral thesis at Friedrich-AlexanderUniversität Erlangen-Nürnberg. He has been Professor for
Strategic Management and Organization at HHL, Academic
Director of the MBA Program and regurlarly teaches as guest
professor at business schools and in management training
programs in Germany and abroad.
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Prof. Dr. Burkhard Schwenker
Prof. Dr. Burkhard Schwenker is the Chairman of the
Supervisory Board of Roland Berger Strategy Consultants. Prior
to this he was the company's CEO. In terms of know-how, he
stands for strategy, organization and corporate transformation.
Mr. Schwenker holds an honorary professorship for strategic
management at HHL Leipzig Graduate School of Management.
In addition, he is Co-Academic Director of the HHL Center for
Strategy and Scenario Planning.
Academic Contributors
_ Dr. Tobias Raffel, Roland Berger Strategy Consultants
_ Prof. Dr. Harald Hungenberg, Chairholder, Department of Management, School of
Business and Economics, Friedrich-Alexander University Erlangen-Nürnberg
_ Prof. Dr. Andreas König, Chairholder, Chair of Technology, Innovation and
Entrepreneurship, University of Passau
_ Prof. Dr. Albrecht Enders, Professor Strategy and Innovation, IMD Lausanne
_ Dr. Christian Brands, Research Associate, HHL Center for Strategy and Scenario
Planning, HHL Leipzig; Chair of Strategic and International Management, Philipps
University Marburg
_ Dr. Christian Hoffmann, Research Associate, Chair of Strategic and International
Management, Philipps University Marburg (currently McKinsey & Company)
_ Dr. Philip Meißner, Assistant Professor, Chair of Strategic and International
Management, Philipps University Marburg
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Contributors from Practice
_ Dr. W. Henning Blarr, Dominik Kanbach and
Marcus Middelmann from Stern Stewart & Co.
They presented a case-study as final
assignment in the Problem Solving &
Communication course and served as jury
members to provide feedback to the students.
PaC Final case presentation by
Dominik Kanbach and Dr. W. Henning Blarr
(Stern Stewart & Co.)
_ Dirk Graber, CEO and founder, Mister Spex GmbH, on growing a company in the
Business Strategy/ Strategic Management course
_ Dr. Matthias Jahncke, Managing Director, Hydraulik Nord GmbH on managing SME
conglomerates in the Busines Strategy course
_ Lucretia Löscher, Senior Project Manager, Osram GmbH, on benchmarking in the
Business Strategy course
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Workshop on interpersonal skills with Lucretia Löscher
_ Dr. Jutta Dölle, Bilfinger SE on Problem Solving and Communication in the resp.
course
_ Jan Miczaika, COO, Wooga, serial entrepreneur as guest speaker on entrepreneurial
behaviour in the Business Strategy/ Strategic Management course
_ Michael Petersen, CEO and co-founder, Smow on entrepreneurial investment in the
Business Strategy/ Strategic Management course
_ Dr. Amadeus Petzke, Principal and Recruiting Director, The Boston Consulting
Group on Strategy making in Commopolies in the Corporate Strategy course
_ Erik Pfannmöller, CEO and founder, Vaola (former MySportWorld) on Strategy in the
Business Strategy/ Strategic Management course
_ Stefanie Priemer, Senior Consultant, Siemens Management Consulting, workshop
on interpersonal skills in the Problem Solving and Communication course
_ Stefan Smalla, CEO and founder, Westwing on Strategy in the Business Strategy/
Strategic Management course
_ Christian Vogel, Managing Director of Süd Beteiligungen GmbH, TGFS, CFH
Holding on success factors in family firm succession in the Family Business
Management course
_ Steffen Zoller, founder and Co-CEO, betreut.de (today a care.com company) on
Strategy in the Business Strategy/ Strategic Management course
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3. RESEARCH
3.1. Research activities of the Chair
The research focus of the Chair lies in “Strategy & Governance”, especially in
entrepreneurial settings. Within this context we currently have two main research
fields: Strategic Decision Making and Governance in Family Firms. Three of the
research projects are trust in family firm management teams, Strategic Decision
Making in Start-ups and Strategy in Entrepreneurial Organizations.
Trust in Family Firm Management Teams
Recent research on family firms has started to incorporate the notion of trust into the
discussion of governance. This should not only enable to further explain family firms’
uniqueness possibly stemming from their governance but also the herewith associated
competitive advantages and disadvantages for family firms. The management team of
family firms often represents the institution in which ownership and control of family
firm members unify. Here, trust is argued to play a crucial role for these management
teams to effectively function, especially when they are composed of both family and
nonfamily members. Subsequently, the Chair wants to contribute to this ongoing
discussion by further analyzing the crucial role trust plays in family firms’ management
teams.
Strategic Decision Making in start-up companies
In the past decade a wealth of research on strategic decision making has emerged.
Various factors have been identified, which influence decision characteristics e.g.
decision quality or speed. Research on strategic decision making focused mainly on
established firms. However, the strategic decision making process in the start-up
ecosphere, with companies developing in a short period of time to dominating market
players (e.g. Google, Facebook, Zalando) has still much more potential. The research
of the Chair is interested in the specific factors influencing strategy formulation and
strategic decision making in this highly dynamic environment.
Strategy in Entrepreneurial Organizations
It is often said that entrepreneurial organizations – most notably start-up companies
and family firms – show a lack of formalized planning and management processes.
However, we see that increasingly such companies are run by experienced business
people or well-educated management graduates, thus such a notion seems to be
contradictory. Research in this field aims to better understand how entrepreneurial
organizations organize their planning and strategy processes (if any) and how this
contributes to firm performance in the market.
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Former/ completed research projects
Familiness in Family Firms
Furthermore, within the family firm research stream we have conducted a review study
on “Familiness in Family Firms”. A key finding is that the concept of familiness is on
the one side heavily used in family firm research and practice publications, but no
common definition or understanding of familyness has yet evolved. Rather, other
concepts have – from our viewpoint – overtaken as key explanatory factors to describe
the underlying competitive resource advantages of family firms. Research suggests
that due to their distinctive characteristics, family firms may possess a competitive
advantage over their nonfamily counterparts. The familiness concept introduced by
Habbershon and Williams into family research in 1999, is supposed to shed light on
why, how, and when this is the case. While some researchers aim at further developing
and clarifying this initial concept, others seem to use the terminology while adopting
an understanding of familiness different from that of Habbershon and Williams’ (1999)
and yet others are directly opposing this understanding and the underlying theory.
Ultimately, it is not surprising that the familiness concept’s mutual acceptance as an
agreed-upon concept in family firm research is questioned. Notwithstanding, the
familiness concept is also seen as being unique and essential to family firm research,
having the potential to serve as a theory for the family firm. To leverage this potential
however, more focused research on the familiness concept is claimed to be inevitable.
But how should further research be conducted on a fuzzy, confusing, and apparently
unaccepted concept? Has the familiness concept approached a dead-end street or is
there a way to level the path for future research? This is exactly where our first research
activities with regard to the familiness concept drew on. By reviewing the familiness
literature, we carved out different familiness conceptions and their shortcomings, as
well as derived a dominant theoretical lens and understanding of the familiness
concept. Furthermore, the analysis of the familiness concept revealed, that it is still an
umbrella concept which requires conceptual and theoretical agreement, validation and
clarification, as well as a solid measurement scale to prevent the familiness concept
from approaching a dead-end street in research.
The paper that resulted from this research was accepted for presentation at the leading
international management research conference Academy of Management Annual
Meeting 2014 in Philadelphia, USA.
Private Equity engagement in family firms
Furthermore, we have finished a research project examining the involvement of private
equity firms in family businesses. In June 2014, we presented our working paper at the
EURAM Annual Conference in Valencia, Spain.
In the paper we asses how private equity companies can successfully manage
acquired family firms. This question was the basis of a published article addressing
family firm succession via a sale to a private equity company. During the investment
CHAIR REPORT 2013/14
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period, private equity companies typically try to increase the value of their portfolio
company through active involvement in its management. The results of our study are
of great practical importance: They show that, based on the resource-based view and
family systems theory, such a behavior will be unsuccessful if the portfolio company is
a former family firm. We empirically tested our hypotheses on a sample of 118
European family firm buyouts and found support for our argumentation. With our study
we add to family firm succession research by highlighting that acquirers that are not
able to utilize the specific resources and competencies of family firms will not be able
to have a positive impact on its performance. We also add to the private equity
literature as we show that private equity companies should take a differentiated
approach for their value adding activities when they invest in a family firm.
3.2. Supervised master theses of the Chair
We complement our Ph.D. and professoral research interests with topics that we
provide for master theses. These topics either directly link into one facet of the key
research areas or aim to develop additional areas of interest. As of December 2014,
these interests include topics in the following areas:
_ Albert, Manuel: Private equity in family firms - A literature analysis
_ Dienemann, Sabina: The familiness concept in family firm research – a literature
review
_ Gessner, Sebastian: The role of advice in strategic decision making of
entrepreneurs
_ Grotelüschen, Janes: Strategic planning in uncertain market environments –
Scenario planning as a possible remedy for the European online travel industry
_ Hast, Malte: Career paths of German CEOs and their impact on corporate
diversification
_ Jacobitz, Martin: Nutzen statt besitzen - effektive Nutzungsmodelle durch
Digitalisierung
_ Jaster, Martin: Diversification strategies in the automotive market - Horizontal
diversification
_ Jungs, Luise: The online interaction of companies and customers in the process of
value co-creation.
_ Lamprecht, Kilian: Family firms and employer branding - Research and practice in
Germany
_ Maier, Florian: Strategic challenges in the automotive industry - OEM business model
impact of synchronized mobility
_ Mohr, Philipp: Google hotel-finder: Disruptive innovation or opportunity for the
market
_ Neumann, Manuel: Performance measurement in family firm research – A
synthesis
_ Niersmann, Alexandra: Diversification of the product portfolio in the automotive
industry: A German comparison of Porsche and Bentley
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_ Pfannmöller, Erik: Building a business-model for internet start-ups: Analysis of
factors influencing the potential success of a new business
_ Pflaum, Alexander: Competitiveness in the premium sports car market - A
comprehensive overview and regional outlook
_ Roessing, Fabian: Strategic change in family firms - Success factors from private
equity buyouts
_ Rössler, Mirjam: Priceline.com, Inc. versus Expedia, Inc. – A case study on two major
players in the online travel market
_ Scheurer, Axel: What is strategy? A synthesis of explanatory approaches
_ Schlenckhoff, Victor: Role of boards and composition in family businesses - A
literature review
_ Schuran, Dirk: Digital transformation: Value creation potential of digital
transformation in the industrial value chain of the travel industry
_ Schwarz, Tony: Revealing the inclination of family firms to apply effectuation logic in
their decision making - A theoretical reasoning –
_ Suthimai, Piraya: Tripadvisor - A case study
_ Veit, Philipp: Strategic Management in the next emerging automotive mega markets
– A post BRIC perspective on emerging markets
_ Von Landsberg-Velen, Christian: The role of boards in the succession process of
family firms
_ Weissbart, Martin: Private equity involvement in family business
_ Wittelsbürger, Richard: Implementation of digital transformation in organizations
3.3. Research Collaborations
Research cannot evolve without researchers taking part in active discussions about
their projects. I strongly believe in this understanding and thus provide several
opportunities for affiliated and connected researchers to present and discuss their
findings. Namely, these are the Research Brown Bag Seminar, the Early Ph.D.
Colloquium on Family Firm Research and the General Management Research
Colloquium.
Research Brown Bag Seminar
In 2013, I launched the Research Brown Bag Seminar at the Chair on a monthly basis.
In each seminar we address a selected topic relevant for the research associates and
external doctoral students. Topics cover a wide range from “Methods of management
research” to “Publishing in academic journals” or “Structured Equation Modelling”.
Each topic is presented by one member of the Chair, while the whole team prepares
themselves through selected readings.
The seminar is a great opportunity to develop a joint understanding on research
questions and methods and provide a regular platform to discuss and learn from each
others area of expertise.
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HHL-Uni Marburg Early Ph.D. Colloquium on Family Firm Research
In the beginning of September 2013, the first "HHL-Uni Marburg Early Ph.D Colloquium
on Family Firm Research" took place at HHL, jointly organized by the Chair of Strategic
and International Management (Philipps University Marburg) and our Chair. With the
research colloquium we address doctoral students at an early stage of their
dissertation. Moreover, we designed it to provide both, a basic theoretical introduction
to scholarly writing and a discussion on the participants’ own research projects, which
they outlined in individual presentations. In total, nine participants from HHL Leipzig
Graduate School of Management, Philipps University Marburg, University of
Liechtenstein, and WHU – Otto Beisheim School of Management took part in this
academic exchange, whereas Prof. Dr. Torsten Wulf from the Philipps University
Marburg and myself provided academic guidance. Besides getting to know doctoral
students from the field of family firm research, the presenting students got concrete
and constructive feedback on their current research project from both, professors and
their fellow doctoral students. Hence, this highly interactive format not only enabled the
doctoral students to improve their research skills but also to network with other
researchers. Overall, the colloquium has been a great success and we are looking
forward to host the event again in the future.
Participants of the 1st Early Ph.D. Colloquium on Family Firm Research
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General Management Research Colloquium at HHL Leipzig Graduate School of
Management
On 29th and 30th of January 2014, we 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 University Erlangen
Nürnberg), Prof. Dr. Torsten Wulf (Philipps-University Marburg), Prof. Dr. Andreas
König (University of Passau), their 30 doctoral students and our Chair came together
and discussed their current research projects in a constructive atmosphere.
Research Colloquium, Leipzig
On invitation of the Chair of Technology, Innovation and Entrepreneurship at University
in Passau, headed by Prof. Dr. Andreas König, all doctoral students met again in July
2014 to present the current status of their projects and to discuss their approaches and
findings with each other. As the format has gained very positive feedback from the
participants, we will continue the colloquium in January 2015 at Philipps-University
Marburg.
Participants Research Colloquium, Passau
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3.4. Conferences
Besides these internally organized opportunites, we also participated in leading
academic conferences referring to our research interests:
74th Annual Meeting of the Academy of Management 2014
Date: August 1-5, 2014
Location: Philadelphia, USA
Field of interest: Family firm and strategy related paper
discussions, networking
Paper presentation: Sabina Dienemann, Prof. Dr. Stephan Stubner: The Familiness
Concept in Family Firm Research – A Literature Review
The research efforts paid off: With papers tackling issues in family business research,
the Chair has been able to share and discuss its research results at one of the most
important international conferences for management scholars: the Annual Meeting of
the Academy of Management (AOM) in Philadelphia. The conference provided the
perfect environment to directly get in touch with the international research community
and enabled us to challenge and improve our research.
14th Annual Conference of the European Academy of Management 2014
Date: June 4-7, 2014
Location: Valencia, Spain
Field of interest: Family firm and strategy related paper
discussions, networking
Paper presentation: Prof. Dr. Stephan Stubner, Kati Roleder, Martin Weißbart:
Private Equity Involvement in family firms: Does the PE value creation model work in
the family firm context?
EURAM is a professional society for scholars in the field of management. With over
1,100 participants the Annual Meeting of the European Academy of Management
(EURAM) is the biggest and most important forum for management researchers in
Europe. In 2014 the conference was held in Valencia, Spain from June 4th -7th. The
Chair of Strategic Management and Family Business was present with a research
paper that successfully passed the double-blind-review acceptance process. We
discussed our study “Private Equity Involvement in family firms: Does the PE value
creation model work in the family firm context?” in an interactive paper session with
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CHAIR REPORT 2013/14
experts on family business research. After the conference, we deepened our relation
with other acknowledged family firm researchers and received valuable feedback in a
discussion on the full paper.
13th Annual IFERA World Family Business Conference
Date: July 2-5, 2013
Location: St. Gallen, Switzerland
Field of interest: Professional Development Workshops,
Family firm and strategy related paper discussions,
networking
Paper presentation: Christian Hoffmann; Prof. Dr. Torsten Wulf; Prof. Dr. Stephan
Stubner: Examining the Familiness Construct: Antecedents and Performance Effects
of an Employee Orientation
Through visiting the ifera conference, we took part in the discussion within the family
firm researcher community.
73th Annual Meeting of the Academy of Management 2013
Date: August 9-13, 2013
Location: Walt Disney World, Orlando, Florida, USA
Field of interest: Professional Development Workshops, Family firm and strategy
related paper discussions, networking
An experience report from Sabina Dienemann, who started her Ph.D. studies with a
visit at this leading international conference:
The 73rd AOM Annual Meeting in Orlando, Florida - what a happening. Five days full
of organization- and management-related research matters as well as networking with
the international research community. The conference’s theme: "Capitalism in
Question". The location, truly unique: Walt Disney World, Lake Buena Vista. And the
best: Two representatives from the Dr. Ing. h.c. F. Porsche AG Chair of Strategic
Management and Family Business namely, Prof. Dr. Stephan Stubner and Sabina
Dienemann have been part of it. The influential conference lived up to its name and
presented the perfect setting to confirm the Chair’s research and teaching ambitions.
The Professional Development Workshops that we attended did not only provide
insights into new teaching and scholarly methods but also into the state of the art
publication requirements of top ranked journals. The editors themselves gave valuable
input on how to submit papers as well as on how to deal with resubmissions. In Paper
Discussion Sessions, focusing on strategy and family firm issues, new and interesting
CHAIR REPORT 2013/14
23
research directions were presented and lively discussed. Leading experts from these
fields shared their insights, pointing out future questions that the respective research
streams will have to deal with. Once again one became aware of the latest scholarly
expectations to live up to, emanating from fellow scholars, editors, and potential
reviewers. Attending and engaging in the conference has been a great opportunity!
Academic Service for other Ph.D. studies
Finally, I also contributed as a second reviewer in the Ph.D. process of several
researchers:
_ Dr. Alicia Bockel, Dr. Werner Jackstädt Chair of Economic and Business Ethics, Prof.
Dr. Andreas Suchanek, The Golden rule in sports
_ Dr. Christian Brands, Chair of Strategic Management and Organization, Prof. Dr.
Torsten Wulf, Scenario-Based strategic planning and strategic management in family
firms
_ Dr. Annette-Lousie Hirmer, SVI-Endowed Chair of Marketing, esp. E-Commerce
and Cross-Media Management, Prof. Dr. Manfred Kirchgeorg,
Familienunternehmen als eine Kategorienmarke. Eine Stakeholder spezifische
Analyse der Markenwahrnehmung von Familienunternehmen – dargestellt am
Beispiel des deutschen Textileinzelhandels
_ Dr. Christian Hoffmann, Chair of Strategic Management and Organization, Prof. Dr.
Torsten Wulf, The Influence of goals, governance structures and resources on family
firm performance
_ Dr. Alexander Knauer, Chair of Financial Management, Prof. Dr. Bernhard
Schwetzler, Empirical essays on value creation and performance effects of private
equity backed company buyouts
_ Dr. Jens-Uwe Meyer, Chair of Strategic Management and Organization, Prof. Dr.
Torsten Wulf, Entwicklung eines Analyse- und Managementmodells zur Steigerung
der Innovationsfähigkeit auf Basis unterschiedlicher Innovationstypen
_ Dr. Bruno Nöllgen, Chair of Finance Management, Prof. Dr. Bernhard Schwetzler,
The impact of industrial diversificationon corporate transactions
_ Dr. Thomas Wallraff, Chair of Strategic Management and Organization, Prof. Dr.
Torsten Wulf, Management-Buy-In bei eigentümergeführten Unternehmen:
Erfolgsfaktoren und Erfolgseinfluss der Relay Succession
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CHAIR REPORT 2013/14
4. TEACHING
HHL Leipzig Graduate School of Management has successfully achieved an
impressive growth in the past years. Although this means that I cannot personally
conduct all courses related to the Strategy elective myself anymore (just because there
are too many teaching obligations coming with this growth), the Chair still ferociously
works on quality management for all courses related to the elective. If I cannot teach
courses myself, I invite lecturers from other institutions with a very good reputation or
excellent prior feedback from our students.
My own teaching concept at the Chair aims to develop entrepreneurial thinking and
sustainably oriented managers and leaders. For this, I offer courses that build on a
solid theory-basis and enable students to develop solutions for entrepreneurial
management challenges. All lectures of the Chair have a strong application-focus and
integrate case studies as well as real-life problems into its discussions. Guest lecturers
frequently provide real-world experiences.
As head of the HHL Group Strategic and International Management I also supervised
a variety of additional courses and (guest) lecturers:
Courses
Lecturer
Program
Advanced Strategy
JProf. Dr. Tobias Dauth
Exchange program
International
Management
JProf. Dr. Tobias Dauth
Full-time MBA, Part-time
MBA
Project Management
Ian Diamond
Full-time MBA
Social Networking
Prof. Dr. Christopher R.
Tunnard
Full-time MBA, Part-time
MBA
Soft Skills Seminar
Prof. Dr. Andreas König
Full-time MBA
CHAIR REPORT 2013/14
Management of
Organizations
Prof. Dr. Harald
Hungenberg
Prof. Dr. Torsten Wulf
Prof. Radha R. Sharma,
Ph.D.
Part-time MBA
Full-time M.Sc.
Part-time M.Sc.
Quantitative Managerial
Techniques
Dr. Christian Brands
Full-time MBA
Part-time MBA
Corporate Strategy
Prof. Dr. Torsten Wulf
Full-time M.Sc.
Strategies for Growth
Dr. Tobias Raffel
International
Management
Competencies
Prof. Radha R. Sharma,
Ph.D.
Prof. Vasanthi Srinivasan
Human Resource
Management
Prof. Radha R. Sharma,
Ph.D.
Prof. Vasanthi Srinivasan
Dr. Tillmann Blaschke
Part-time MBA
Part-time M.Sc.
Part-time MBA
Problem Solving &
Communication
Ian Diamond, Prof. Dr.
Christopher R. Tunnard
JProf. Dr. Tobias Dauth
Part-time MBA; Part-time
M.Sc.
MBA, Exchange
Strategic Management
Prof. Dr. Harald
Hungenberg
Part-time MBA
Business Strategy
Prof. Dr. Torsten Wulf
Part-time M.Sc.
Case Writing and Case
Research
Prof. Radha R. Sharma
Ph.D.
Doctoral Program
Management Practice
in Central & Eastern
Europe
JProf. Dr. Tobias Dauth
Full-time MBA
Managing Global
Corporations
JProf. Dr. Tobias Dauth
Full-time MBA
Strategy Research
Methods
Dr. Philip Meißner
Full-time M.Sc.
Full-time M.Sc.
Full-time M.Sc.
25
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CHAIR REPORT 2013/14
Corporate
Responsibility in a
Globalized World
Prof. Vasanthi Srinivasan
Full-time MBA
Strategic Management/
Business Strategy
Dr. Jutta Dölle
Exchange program
Courses delivered by me in the past two years include:
_ Problem Solving and Communication (Part-time M.Sc. Fall - 2014, Full-time M.Sc. Spring 2014, Fall 2013, Spring 2013)
_ Business Strategy (Full-time M.Sc. - Fall 2014, Spring 2014, Fall 2013, Spring 2013)
_ Corporate Strategy (Part-time M.Sc. - Spring 2014, Fall 2013, Full-time M.Sc. - Spring
2013)
_ Family Business Management (Full-time M.Sc. - Spring 2014)
_ Strategic Management (Full-time MBA - Fall 2013)
_ Introduction to business model development (GEMBA - Fall 2014, Fall 2013)
_ Pre-Module Part-time Classes/ General Management (Part-time MBA und Part-time
M.Sc. - Winter 2014)
Course Problem Solving and Communication
The course "Problem Solving & Communication" (PaC) is one of the fundamental
courses at HHL. If you ask alumni after 5-10 years which ideas left the biggest impact,
very often they refer to the concepts of MeCe-ness, Logical Chain and Storylining from
PaC. The course aims to provide students with the necessary soft skills to master all
other courses at HHL and to prepare for future management positions. From the outset,
it addresses the question of how to deal with new and complex problems, e.g. new
projects, assignments, but also research challenges. For this, the content of the course
comprises tools for all steps in the problem solving process, including problem
identification, structuring and preparing analyses plans. A special emphasis is laid on
the development of convincing storylines for presenting developed solutions and the
accompanying necessary presentation skills. Generally, students learn tools to tackle
the problem solving process. This includes instruments for problem definition, the
MeCe principle for structuring, but also approaches to develop and deliver a convincing
presentation for developed solutions. As part of the course, Siemens Management
Consulting conducted a workshop on soft skills in business in Fall 2013 and Spring
2014. Furthermore, consulting company Stern Stewart & Co. provided a case study for
CHAIR REPORT 2013/14
27
the final presentation and was part of the jury in front of which students presented their
solutions. The course received very good feedback from our students (grade: 1.19 in
Spring 2014).
Course Business Strategy
In the course Business Strategy, students gain an extensive knowledge on the
fundamental instruments and underlying theories in Strategic Management. As an
onboarding course, the aim of the course is also to provide a baseline for students that
want to take the Strategy elective. The course addresses the basic concepts and their
underlying theories in Business Strategy, including External Analysis, Internal
Analysis, Strategy Formulation, and Strategy Implementation. Through continuous
exercises on application of these tools, students are enabled to develop a strategic
analysis on a given industry and company and derive strategies for sustainable
competitive advantage. In Spring 2014, the students graded the course with a 1.20.
Course Corporate Strategy
Students in the course Corporate Strategy gain an extensive knowledge on the
fundamental instruments and underlying theories in the management of multibusiness
corporations. The course provides students with the relevant theoretical explanations
for diversification success, like the market-based view and resource-based view. It also
discusses the contribution of institutional and transaction cost theory for corporate
strategy in practice. The practical application includes discussions on Diversifaction,
Portfolio Planning, Mergers & Acquisitions, Alliances, Corporate Turnaround and the
Role of the Center. The feedback of the students for the course was 1.32 in Spring
2014.
Course Family Business Management
The course aims on familiarizing students with the importance of research and theories
in modern management, exemplified on Family Business Management. Another
objective is to enable students to understand the potential challenges in Family
Businesses and venues to master them. Based on a reflection of the research process
and the application of theories towards family business challenges, students will learn
how to bridge the research practice gap. In Spring 2014, the students graded the
course with a 1.66.
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CHAIR REPORT 2013/14
Course Strategic Management
Students in the course Strategic Management gain an extensive knowledge on the
fundamental instruments and underlying theories in this top-management discipline.
Through various exercises and applications of these tools, they will be able to conduct
a strategic analysis on a given industry and company and derive strategies for
sustainable competitive advantage, both on business strategy and corporate strategy
level. The feedback of the students for the course was above-average with a 1.41 (term
average MBA courses: 1.84).
Further courses the Chair typically offers in the regular HHL programs are e.g.
Management of Organizations, Business Development, Business Plan Development
and Entrepreneurial Finance. But in the past year we already exceeded our teaching
obligation with the abovementioned courses.
The success of our teaching concept is reflected in the Financial Times Ranking 2014.
Here, HHL' M.Sc. Program was ranked second in the world for its strategic
management emphasis. The FT "Masters in Management" ranking, which rates 70
business schools, is considered to be one of the most comprehensive and significant
internationally of its kind for Master programs with a focus on General Management.
CHAIR REPORT 2013/14
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5. TRANSFER
In this section about Transfer activities I present you with a smorgasbord of activities
the Chair conducts to support the overall HHL strategy. This includes guest lectures,
workshops, initiative support and many other aspects.
I am an elected member of the board of the “Gesellschaft der Freunde der HHL e.V.”
(in Englisch: Association of HHL friends). The Gdf/AoF is the Hub for HHL
entrepreneurs and has the mission to support the entrepreneurial spirit at HHL. In this
context, we provide many support activities both for current students, alumni and HHL
at large. Membership is free for HHL students and tax deductible for everybody else.
All members of the Chair also support HHL's entrepreneurs through a variety of
networking activities and a deep integration of entrepreneurial topics in our teaching.
Personally, I draw on own experiences as founder and we offer our students many
opportunities to discuss their business ideas already while they are studying – through
seminars, workshops and individual coaching.
5.1. HHL Entrepreneurs Day
One of the most impactful formats for HHL entrepreneurs is the “Entrepreneurs Day”.
3-4 times a year, experienced entrepreneurs and start-up founders meet in a very
trusted atmosphere to a) get new input on latest management tools, b) exchange
experiences on building and managing organizations in different industries, and c) to
network with like-minded HHL alumnis. In August 2013, twelve HHL alumni met at HHL
for an intense full-day workshop with experience exchange and networking
opportunities. Furthermore, as a fundraising campaign had just started, the group
visited the new building Haus 2 and instantly pledged a five digit sum to support the
renovation of the student rooms. A second Entrepreneurs Day was then hosted at the
facilities of MisterSpex in Berlin, a successful HHL start-up that already is one of the
top ten German opticians. In March 2014, the next Entrepreneurs Day was hosted by
trivago.com in Düsseldorf. This time almost 30 HHL entrepreneurs joined for
workshops on business intelligence, start-up evaluation and adjacent experience
exchange. Again almost 30 entrepreneurs met at the Mister Spex office in Berlin in
September 2014.
Participants, HHL Entrepreneurs Day
CHAIR REPORT 2013/14
31
5.2. HHL Start-up Career Fair
For the entrepreneurial spirit amongst HHL
students, the HHL Start-up Career Fair has
proved to be an important element. Together with
the Association of HHL friends (Aof) and HHL
Career Services, we organize the HHL Start-up
Career Fair twice a year where we invite 4-5
start-ups to present their stories, discuss
experiences and inform about internship and
career opportunities. While this event, regularly
visited by the majority of the student body, has
lead to a 40-50% internship rate of our students
with start-ups, especially the adjacent start-up
BBQ offers ample opportunities for networking
and plays an integral role to motivate our
students to discuss entrepreneurial ideas and
exchange their viewpoints with entrepreneurial
role models.
Presentation by Prof. Dr. Stephan Stubner
5.3. MACHER 25 – Der große Wirtschaftspreis des Ostens
Our Chair is part of the initiative „MACHER 25 – Der
Große
Wirtschaftspreis
des
Ostens“,
an
entrepreneurial award, honoring the achievements of
East German entrepreneurs for their astonishing,
steady and innovative work within the last 25 years,
following the collapse of the German Democratic
Republic. This entrepreneurial spirit and readiness to
assume risks are the driving forces behind a
flourishing economy which should be revered.
For the first time, the prize will be awarded in Berlin in
2015 in the three categories ‘lifetime achievement’,
‘entrepreneurial succession’ and ‘startup/innovation’.
Besides HHL, members of the initiative’s consortium
are VBKI (Verein Berlin Kaufleute und Industrieller),
KPMG, Egon Zehnder and Weberbank, as well as
media partners Berliner Zeitung and Wirtschaft +
Markt.
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CHAIR REPORT 2013/14
The top-class jury includes our Dean Prof. Dr. Pinkwart for the academic area, Franz
Fehrenbach (Chairman of the supervisory board of Bosch-Group) for the economic
side of the table and Matthias Platzeck as head of the jury (former Prime Minister of
Brandenburg) for the political area. The keynote speech at the award ceremony will be
held by Sigmar Gabriel (Federal Minister for Economic Affairs and Energy).
5.4. HHL Venture Capital Club
HHL offers students a full Entrepreneurship elective with two chairs being fully
dedicated to Entrepreneurship. Besides, entrepreneurship student initiative Accelerate
is very active as well. But sometimes, students want to discuss the viewpoint of the
investor as well, partly because they are interested in a career in Entrepreneurial
Finance, partly because also as entrepreneurs they want to understand how investors
think and what to expect from partnering with them. Thus, the Chair – building on our
own experiences and resources and entrepreneurs and investors – started to mentor
the HHL Venture Capital Club in 2013. In this initiative, students organize regular
events either on content-related topics, e.g. how to structure VC deal terms, or invite
speakers from practice to discuss their understanding on early stage financing.
5.5. HHL Family Business Network
A growing number of students at HHL plan to take over responsible positions in their
respective family businesses. The challenges those future entrepreneurs have are
pretty similar, so we established a loose network of next generation family business
managers at HHL. Members are invited to the Entrepeneurs Meetings of the AoF and
we also meet 1-2 times a term for a general experience exchange.
5.6. Field Projects
An important element of studying at HHL is the “field project”. Essentially, this is a
student consulting project supervised by a Chair. Students typically run these projects
independently (with some quality assurance from the Chair) and get grades for their
Master for their outcome. We try to supervise at least one field project per term. In the
past year, we partnered with online start-up ZUUMEO, e-commerce retailer Mister
Spex, and mining company MIBRAG for the field projects.
CHAIR REPORT 2013/14
33
Field Project ZUUMEO
ZUUMEO is a German e-commerce service provider
headquartered in Berlin, having its core business in content
production for online shops in the segments of fashion,
sports, home, accessories, jewelry and beauty. Its current service portfolio ranges from
still, model and 360° photography to videos, postproduction, product texts, and content
consulting. The company has been founded in 2010 as Mybrands Zalando
eProductions, a 100% subsidiary of Zalando, being subject to an MBO in June 2013.
The Chair’s field project team, consisting of five students from MSc9, has been called
to support ZUUMEO in exploring growth options for its future business strategy. In
close coordination with ZUUMEO’s CEOs, the team analyzed the e-commerce service
market as well as ZUUMEO’s current value chain in order to derive potential business
opportunities for ZUUMEO. These opportunities have then been assessed with the
help of a specially developed evaluation framework. Subsequently, the field project
was successfully completed after a final presentation, in which the team outlined their
analysis results together with respective strategic implications and recommendations
for ZUUMEO.
Field Project MIBRAG
Mitteldeutsche Braunkohlegesellschaft mbH (MIBRAG) is a 3,000
people mining company, focusing on the production and sale of
raw brown coal (lignite). MIBRAG’s main customers range from
power stations, to industrial corporations and municipal utility
companies. Overall, MIBRAG represents not only an important determinant for the
economic development but also the community and cultural life in the federal states of
Saxony, Saxony-Anhalt and Thuringia.
In spring term 2014, the Chair mentored a student field project team with six students
from MSc10 who got the opportunity to support MIBRAG in distinguishing and
designing tools to further develop high potentials within the company. In doing so, the
project team conducted an in-depth external as well as internal analysis to derive both,
appropriate development tools as well as adequate content insights. Intense desk
research, various interviews as well as a joint workshop with representatives from
MIBRAG accompanied the team’s analysis efforts. Throughout the project the team
has been closely cooperating with MIBRAG’s Strategic HR Management. The final
results have been presented in July 2014 and will hopefully enable MIBRAG to assist
their high potentials in moving ahead on their internal career paths.
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CHAIR REPORT 2013/14
The students team
MIBRAG, Zeitz
Field Project Mister Spex
Mr. Spex is the leading e-commerce eyewear retailer in
Europe. Its product range includes over 5.000 different
glasses and sunglasses models from more than 60
well-known brands and designers. Since its foundation in 2007 the company grew
rapidly to more than 65m in revenues and hosts a network of more than 500 partner
opticians.
In the field project in winter term 2014, the Chair guided four students from MSc11 in
developing the first stepping stone for Mister Spex´ multi-channel retail initiative.
Project goal was the development of a pilot concept for the first stores. The team
analyzed the market, evaluated various retail concepts, created a store “look and feel”
while keeping a consistent brand representation in mind and carried out desk research,
customer surveys and expert interviews. During the project the students could win
great insights into retailing, the eye-wear industry as well as gain significant experience
in project management and client interaction. Final results were presented to the top
management team of Mister Spex in December 2014. We are looking forward to seeing
Mister Spex´ successful future development in multi-channel retailing.
5.7. Other Transfer activities
Business @ School
[email protected] has been initiated by strategy consulting firm The Boston Consulting
Group (BCG) in 1998. The initiative aims at “bridging the topic of business to schools
in a clear and appealing way”. Each year, students from over 90 senior high schools
and secondary schools in Austria, Germany, Italy, Switzerland and the United States
are participating. Our Chair members Kati Roleder and Sabina Dienemann coach two
student teams from the Anton-Philipp-Reclam high school in Leipzig.
In 2013, we have already supported this initiative as jury members to provide
constructive feedback to the student teams from the Anton-Philipp-Reclam-Schule on
their way to their final business concepts presentations at different competition levels.
CHAIR REPORT 2013/14
35
Business Knigge Workshop
“You never get a second chance to make a first
impression” - Professional behavior and appearance is
of utmost importance to succeed in today’s business
world. Therefore, knowing the rules of proper business
etiquette and style is essential. Jointly organized by
Breuninger Leipzig and the Chair, 30 students got the
chance to refresh their Business-Knigge skills. Our
workshop familiarized them with these rules, enabling
them to master the challenges of verbal and nonverbal
communication and different dress codes in day-today business.
A special thanks goes to HHL student and Breuninger Leipzig
CEO Thomas Höhn and his team - Mrs. Szodorai and Mr.
Wolff – for realizing this great event and informing us about the
“dos and don’ts” regarding style and etiquette.
Thomas Höhn,
CEO Breuninger Leipzig
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CHAIR REPORT 2013/14
Transfer activities in 2014
April 2014
_ Alumni meetings in Berlin and Düsseldorf: Prof. Dr. Stubner
represented HHL as member of faculty and provided an update
about the current implementation status of the innovate125
agenda.
_ Interview: Prof. Dr. Stubner was invited to comment on the
acquisition rumours of travel company Unister for 1.5 billion
Euros, published in the regional newspaper “Sächsische
Zeitung”.
_ 12th Start-up Career Fair: Fostering the entrepreneurial spirit – in
April 2014, around 100 HHL students and alumni joined the 12th
Start-up Career Fair, organized by the Chair, HHL’s Career
Services and the Association of HHL-Friends.
Prof. Dr. Stubner welcomed the particicpants of the 12th start-up career fair
May 2014
_ HHL Energy conference: Prof. Dr. Stubner conducted a
workshop on case study approach.
Prof. Dr. Stephan Stubner presenting at HHL Energy Conference
CHAIR REPORT 2013/14
37
_Conference “Dienstleistung in der
dogitalen Gesellschaft of the Federal
Ministry of Education and Research
(BMBF): Prof. Dr. Stubner was invited to
talk about „Digitalization and the Sharing
Economy” at the conference.
_ HANIEL Foundation alumni conference: Philipp Veit attended
the yearly alumni conference on "Rethinking Management
Education? The Role of the Humanities".
_ Annual Strategy Chair BBQ: The Porsche AG Chair organized
the famous annual strategy BBQ for its elective students.
Impressions of our BBQ
June 2014
_ Visit of Porsche AG: Prof. Dr. Stubner visited Porsche AG in their
headquarters in Stuttgart-Zuffenhausen to discuss the next steps
in our collaboration.
July 2014
_ Start-up contest: Prof. Dr. Stubner took part at the Capgemini
Customer Experience Innovation Start-up Contest in Leipzig as
a jury member and panelist.
August 2014
_ HHL Executive: As a keynote speaker to a HHL Executive
Theme Night on the topic of "Digital Transformation", Prof. Dr.
Stubner supported the regional visibility of HHL.
September
2014
_ 13th HHL Start-up Career Fair: This time, eWings, Mister Spex,
Leverton, Meine Spielzeugkiste, Lecturio.de and Hitfox Group
joined us on campus to present their founder stories and to
discuss their experiences with our students.
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CHAIR REPORT 2013/14
_ HHL Alumni: Prof. Dr. Stubner was invited for a lecture on
“Challenges in Strategy Development” at HHL’s Alumni
Homecoming 2014.
October 2014
_ HHL Venture Capital Club: Prof. Dr. Stubner participated at a
panel discussion on “Conflict Area of Social Entrepreneurship
and Venture Capital”, organized by HHL’s Venture Capital Club.
_ HHL Alumni: Prof. Dr. Stubner represented HHL as member of
faculty at an alumni meeting in Stuttgart and gave a speech on
challenges in Strategy development.
November 2014 _ Business Knigge workshop: Our Chair invited 30 students to a
business Knigge workshop at Breuninger Leipzig.
Thomas Höhn, Kenny Wolff and Juliane Szodorai, Breuninger Leipzig
_ Start-up panel discussion: Prof. Dr. Stubner participated at a
panel discussion on „ Gründen und Wachsen mit Risikokapital /
Best practices aus dem Silicon Valley – Chancen für Leipziger
Gründer?” organized by the Amt für Wirtschaftsförderung, Stadt
Leipzig.
_ Workshop: Philipp Veit participated in a workshop on multichannel retail strategy of Media-Saturn Holding.
_ [email protected]: The Chair’s [email protected] student teams
– supervised by Sabina Dienemann and Kati Roleder - from
Anton-Reclam-Gymnasium Leipzig presented their company
analyses. Now they are working on their own business ideas.
CHAIR REPORT 2013/14
Team Evonik Industries AG
Lufthansa
39
Team Deutsche
December 2014 _ Christmas movie night: Together with the Schumpeter Junior
Professorship in Entrepreneurship and Technology Transfer the
Chair organized a Christmas movie night for our students,
showing the traditional German movie „Die Feuerzangenbowle”.
Transfer activities in 2013
April 2013
_ HHL Energy conference: Prof. Dr. Stubner conducted a
workshop on case study approach at the HHL Energy
Conference.
Prof. Dr. Stephan Stubner
Participants HHL Energy Conference
_ Interview: Prof. Dr. Stubner was invited to comment on price
differences of online retailer at MDR Umschau (“Andere Größe,
anderer Preis“).
June 2013
_ HHL seminar: Prof. Dr. Stubner participated as juror in the HHL
Business Plan Development seminar.
_ Blue CF Unternehmertag: Prof. Dr. Stubner was a panelist at
the session „Nachhaltige Unternehmensführung im Zeitalter
disruptiver Geschäftsmsodelle“ at the Blue CF Unternehmertag.
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CHAIR REPORT 2013/14
Prof. Dr. Stubner at the Blue CF Unternehmertag
July 2013
_ Interview: Prof. Dr. Stubner was invited for an expert interview
by MDR on the insolvency of Praktiker.
_ HHL CASiM conference: Prof. Dr. Stubner presented a study on
Value Co-Creation through Communities in Online Business
Models at the HHL CASiM conference.
August 2013
_ Conversation with Chair sponsor: Prof. Dr. Stubner had the
chance to discuss with Matthias Müller, CEO of Porsche AG at
the graduation ceremony of the classes MSc6 and PMSc1 of the
Master of Science Program and classes M13 and P7 of the MBA
Program.
Matthias Müller (CEO Porsche AG), Prof. Dr. Stephan Stubner
September
2013
_ Scenario planning workshop: Kati Roleder conducted a
workshop on scenario planning for a Chinese delegation,
organized by GIZ (Deutsche Gesellschaft für Internationale
Zusammenarbeit).
_ BCG E-Commerce Day: Prof. Dr. Stubner was invited to
participate at the The Boston Consulting Group E-Commerce
Day.
_ Porsche Cup: The Chair financially supported the participating
HHL teams in the Porsche Cup. The event lead to donations of
14,000 Euro for several nonprofit organizations, e.g. „Zukunft
für Kinder e.V.“, „Hospiz Verein Leipzig e.V.“ and „Erster Freier
Tierschutzverein Leipzig und Umgebung e.V.“.
CHAIR REPORT 2013/14
41
HHL soccer team
November 2013
_ HHL Forum: Prof. Dr. Stubner moderated a panel in the HHL
Forum on ‘Rethinking Leadership’. Presenters were Dr. Veit
Etzold (CEO coach, author) and Gebhard Ottacher (COO Teach
for Austria) on Storytelling and Leadership. The picture shows
part of the discussions.
Dr. Veit Etzold, Gebhard Ottacher, Prof. Dr. Stephan Stubner
_ Egon Zehnder roundtable: Prof. Dr. Stubner was invited for an
impulse lecture on “Digital Transformation” by Egon Zehnder for
a group of managing directors of mid-sized manufacturing
companies.
December 2013
_ HHL alumni meeting: Prof. Dr. Stubner represented HHL as
member of faculty at an alumni meeting in Berlin and provided
an update about the current implementation status of the
innovate125 agenda.
_Interview: HHL start-up Futalis was featured in
Wirtschaftswoche-Artikel with Prof. Dr. Stubner as a coach.
a
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CHAIR REPORT 2013/14
6. CENTER FOR STRATEGY AND SCENARIO PLANNING
6.1. Center for Strategy and Scenario Planning
The HHL Center for Scenario Planning is a
leader in the field of scenario management.
A joint initiative by HHL Leipzig Graduate
School of Management and Roland Berger Strategy Consultants, the Center aims to
fully exploit the potential of scenario planning methods in practice. We refine the
techniques involved and encourage public debate of the method.
We pursue three main areas of activity:
_ Serving as the core of an international platform of experts, think tanks, academics
and practitioners,
_ Supporting scenario projects for companies, governmental institutions and other
organizations by developing, evaluating and monitoring scenarios,
_ Conducting academic research and education in scenario planning.
Our knowledge base includes an extensive scenario library and a toolbox for longterm planning. Our team has comprehensive experience in using scenario planning
for different projects and industries.
6.2. Research: The value of scenario-based strategic planning: Book
“Scenario-based Strategic Planning - Developing Strategies in an
Uncertain World” published
In a world characterized by increasing complexity and
volatility, managers must be able to flexibly adapt their
strategies to changing environments. Traditional methods
of strategic management often fail in this context.
Therefore, the HHL Center for Strategy and Scenario
Planning and Roland Berger Strategy Consultants
developed and presented an innovative concept of
scenario planning which is designed to serve as a
framework for strategic management in this day and age
of uncertainty.
"Scenario planning makes it easier to manage a business
and therefore is a key tool for decision makers," explains
Prof. Dr. Burkhard Schwenker, CEO of Roland Berger
Strategy Consultants. He is publishing the book together
with Prof. Dr. Torsten Wulf from HHL's Center for Strategy and Scenario Planning.
Wulf says: "Working with scenarios enables a new quality of strategy, expands your
CHAIR REPORT 2013/14
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6. CENTER FOR STRATEGY AND SCENARIO PLANNING
horizon in the strategy development framework and increases the room for strategic
action."
Previous methods for scenario planning were complicated and very time-consuming.
The new concept however, is embedded in strategic planning and provides ideal
tools to reduce complexity and makes projects more efficient.
6.3. Disruptive scenario planning: Center publishes article in Harvard
Business Manager
The Center for Strategy and Scenario Planning has published an article on the benefits
of planning based on disruptive scenarios for decision making in the July issue of
“Harvard Business manager”. The article titled “Mit Katastrophen planen” and coauthored by Prof. Dr. Torsten Wulf, Dr. Philip Meissner and Sabine Busse presents
how a disruptive scenario planning approach is applied at Alstom, the power and
transportation company. The paper shows the detailed steps of the approach and
highlights the methods benefits. Also, the article takes a cognitive perspective on
decision making and introduces how disruptive scenario planning can help overcome
biased judgment and improve decisions. The results suggest that the reduction of
biases based on effective planning can improve ROI by up to seven percent.
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CHAIR REPORT 2013/14
7. PUBLICATIONS
Schwenker, Burkhard; Wulf, Torsten
Scenario-based Strategic Planning - Developing Strategies in an Uncertain World
Wiesbaden: Springer-Gabler, 2013
ISBN: 978-3658028749
Book Chapters and Journal Articles
Stubner, Stephan
Digitalisierung und nutzungsbasierte Service-Modelle.
In: Boes, Andreas, ed. Dienstleistung in der digitalen Gesellschaft. Beiträge zur
Dienstleistungstagung des BMBF im Wissenschaftsjahr 2014. Frankfurt/ New York,
2014, 235-241
Stubner, Stephan; Wulf, Torsten; Meissner, Philip; Brands, Christian
Scenario-based strategic planning: A new approach to coping with uncertainty.
In: Schwenker, Burkhard; Wulf, Torsten, eds. Scenario-based Strategic Planning.
Developing Strategies in an Uncertain World. Wiesbaden, 2013, 43-67
CHAIR REPORT 2013/14
45
Wulf, Torsten; Hoffmann, Christian; Stubner, Stephan
Understanding the performance consequences of family involvement in the top
management team: The role of long-term orientation
In: International Small Business Journal (2014), 1-24
Meissner, Philip; Wulf, Torsten
Antecedents and effects of decision comprehensiveness: The role of decision quality
and perceived uncertainty
In: European Management Journal 32 (2014) 4, 625-635
Wulf, Torsten; Stubner, Stephan
Position-specific knowledge, new CEO learning and firm performance
In: European Journal of International Management, 7 (2013) 1, 6-30
Stubner, Stephan; Wulf, Torsten; Landau, Christian; Gietl, Robert
Buyouts in Familienunternehmen – eine Herausforderung für Private Equity
In: Zeitschrift für KMU und Entrepreneurship: ZFKE, 61 (2013) 1-2, 115-136
Wulf, Torsten; Meissner, Philip; Zülch, Henning; Wünsch, Martin; Detzen, Dominic
The Effect of a Pre-Deal Purchase Price Allocation on the Quality of Acquisition
Decisions
In: Problems and Perspectives in Management, 11(2013), 1, 59-68
Wulf, Torsten; Meissner, Philip; Busse, Sabine
Mit Katastrophen planen
In: Harvard Business Manager, 35 (2013) 7, 80-82
Meissner, Philip; Wulf, Torsten
Cognitive benefits of scenario planning – its impact on biases and decision quality
In: Technological Forcasting and Social Change, 80 (2013) 4, 801–814
Zülch, Henning; Wünsch, Martin; Detzen, Dominic; Wulf, Torsten; Meissner, Philip
The Effect of a Pre-Deal Purchase Price Allocation on the Quality of Acquisition
Decisions
In: Problems and Perspectives in Management, 11 (2013) 1, 52-61
Wulf, Torsten; Stubner, Stephan
Strategische Planung und strategisches Controlling mit Szenarien
In: Controlling, 24 (2012) 10, 523-528
Working Papers
Wulf, Torsten; Hoffmann, Christian; Renner, Desirée
Zukunftsfähigkeit deutscher Familienunternehmen
Ergebnisbericht, 2013
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CHAIR REPORT 2013/14
HHL Center for Strategy and Scenario Planning, HHL Leipzig Graduate School of
Management; Philipps Universität Marburg
Conference Presentations Porsche AG Chair of Strategic Management and
Family Business
Dienemann, S.; Stubner, S.: “The Familiness Concept in Family Firm Research – A
Literature Review.” 74th Annual Conference of the Academy of Management.
Philadelphia, USA, August 1-5, 2014.
Stubner, S.; Roleder, K.; Weißbart, M.: “Private Equity Involvement in family firms:
Does the PE value creation model work in the family firm context?” 14thAnnual
Conference of the European Academy of Management, Valencia, Spain, June 4-7,
2014
Stubner, S.; Hoffmann, C.; Wulf, T.: “Examining the Familiness Construct: Antecedents
and Performance Effects of an Employee Orientation.” 13th Annual IFERA World
Family Business Research Conference. St. Gallen, Switzerland, July 2-5, 2013
Conference Presentations Center for Strategy and Scenario Planning
Wulf, T.; Meissner, P.: “Debiasing Illusion of Control: The Effect of Internal and External
Advice Seeking”, 73rd Annual Meeting of the Academy of Management, Orlando, USA,
August 10-13, 2013.
Wulf, T.; Brands, C.: “Strategic Planning and Family Firm Performance”, 73rd Annual
Meeting of the Academy of Management, Orlando, USA, August 10-13, 2013.
Brands, C.: “The impact of successor generation discount in family firms: exploring
nonlinear effects on exploration and exploitation”, 9th Workshop on Family Firm
Management Research, Helsinki, Finland, May 24-25, 2013.
Hoffmann, C.: “Family managers’ long-term orientation as a determinant of their
performance impact”, 3rd German Conference of Family Firm Researchers, St. Gallen,
Switzerland, March 4-5, 2013.
CHAIR REPORT 2013/14
IMPRINT
Publisher:
HHL Leipzig Graduate School
of Management
Dr. Ing. h.c. F. Porsche AG
Chair of Strategic
Management and
Family Business
Chairholder:
Prof. Dr. Stephan Stubner
Jahnallee 59
04109 Leipzig
T +49 341-9851-895
F +49 341-9851-899
[email protected]
www.hhl.de
Photos:
HHL
Publication Date:
March, 2015
47
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CHAIR REPORT 2013/14
HHL Leipzig Graduate
School of Management
Jahnallee 59
04109 Leipzig, Germany
T +49 341 9851-60
F +49 341 9851-679
www.hhl.de

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