Students

Transcription

Students

HHL
news
HHL – Leipzig Graduate School of Management
Highlights
Careers
Partners
Executive Education
Students
Research
B a ck g r o u n d
WINTER 10/11
Professor Andreas Pinkwart and Dr. Axel Baisch
to be new Executive Management of HHL
HHL is to have a new management team.
On October 20, 2010, the school’s governing bodies elected Professor Dr. Andreas
Pinkwart, the former Minister for Science,
Innovation, Research and Technology in
North Rhine-Westphalia and Federal Deputy
Chairman of the Free Democratic Party
(FDP), to be the new Dean of HHL. Dr. Axel
Baisch, currently Managing Director of the
Deutsche Oper Berlin, will be the new Chancellor. Both newcomers will take up their
posts on April 1, 2011.
Both the Supervisory Board and the Shareholders’ Meeting of Germany’s oldest management school were unanimous in their
decision. Prior to the vote, the Senate had
appointed Professor Pinkwart to the Chair
of Innovation Management and Entrepreneurship.
“We are delighted with the decisions and are
convinced that our school will experience a
further positive development with the appointment of Professor Pinkwart and Dr.
Baisch,” said Dr. Tessen von Heydebreck,
Chairman of HHL’s Supervisory Board.
“HHL is fortunate to have attracted Professor
Pinkwart, a personality who has comprehensive experience and success as an academic
and education policy specialist, and who also
has excellent contacts in business, politics
and society.”
Professor Pinkwart and Dr. Baisch said:
“We are looking forward to our new task
and to getting to know the City of Leipzig.
We are currently preparing a growth plan
for the business school. Growth needs
structures and thorough planning. We are
already in close contact with the faculty,
staff and students whom of course we are
including in this process. Shortly after we
take office, we will announce our plan for
HHL.”
Professor Dr. Andreas Pinkwart (50) has
been Chairman of the Free Democratic Party in North Rhine-Westphalia since 2002
and Deputy Chairman of the federal party
since 2003. He was then Minister for Sci-
Contents
Highlights
pp. 3-9
Honorary doctorate
HHL Discourse
Scholarship Effective and Responsible Leadership
Term start at HHL
Michael Porters honors HHL students
Graduation
DAAD Prize 2010
HHL Award: Ready for Business
DAAD Scholarships
KARL-KOLLE-Foundation honors Diploma thesis
Partners
pp. 11-13
HHL Excellence Dinner 2010
Interview with Wolfgang Topf
2nd HHL Manager Golf Cup
Executive Education pp. 14-15
HHL Executive’s upcoming programs
Euro*MBA
Study: Impact of executive
education on employees’ loyalty
Students ence, Innovation, Research and Technology
and Deputy Prime Minister in the CDU/FDP
coalition for five years. He was a member
of the German Bundestag from 2002 to
2005, and has been a member of the North
Rhine-Westphalian state parliament since
July 2010.
Professor Pinkwart earned his doctorate at
the University of Bonn in 1991 before becoming Professor for Public Management at
Düsseldorf University of Applied Sciences in
1994. In 1998, he accepted a professorship
at the University of Siegen, where he was
Professor for Management for small and medium-sized enterprises. His main research
focus is on entrepreneurship and turnaround
management.
Interview
pp. 16-19
XV European Ivy League
Business Students Without Borders
Accelerate@HHL
Auction for HHL’s student initiatives
The Negotiation Challenge (TNC)
HHL Energy Club
HHL students travel the world
Alumni p. 20
Update from the Alumni Office
Research & Programs pp. 22-42
News from HHL’s Master programs
HHL’s doctoral program
Faculty research activities
Careers
Dr. Tessen von Heydebreck
pp. 43-45
Placement statistics of the M.Sc. program
European Career Track
Company presentations at HHL
MBA Career Fair
HHL’s entrepreneurs
Background
pp. 46-48
Interview with M.Sc. student Simone Haubner
New HHL image film
Application deadlines
Upcoming events
Three questions to Dr. Tessen von Heydebreck, Chair of HHL’s Supervisory Board.
HHL news: You have found a strong team
for HHL’s new Executive Management.
What particular strengths are needed
for the management of a prestigious
private business school?
As the academic head of the business
school, the rector has to be a respected and
recognized researcher. Together with the
chancellor, who is an experienced commercial manager, he or she has to identify himself
or herself with HHL’s mission statement.
Moreover, the Executive Management should
also have a widespread international network
in the academic and business worlds. Last
but not least, the task requires strong leadership qualities and excellent social skills.
HHL News – winter 2010/2011
Dr. Axel Baisch (45) has been Managing Director of the Deutsche Oper Berlin since
2006. He gained a doctorate in Law in Freiburg and was Managing Director of the
Staatstheater Nuremberg for six years. In
2008, he was elected chairman of the group
of Managing Directors within the Conference of German-speaking Opera Houses.
Originally from Lübeck, he is currently completing an Executive MBA at Birmingham
Business School.
Until the end of March 2011, HHL will continue to be led by Professor Dr. Arnis Vilks,
who was Dean from 2000 to 2005, and the
current Chancellor Dr. Judith Marquardt, who
will then leave HHL of her own accord.
HHL news: What tasks does HHL face in
the next few years?
HHL must grow. In a controlled way and
maintaining high standards. HHL has to
sharpen its profile even more in order to
differentiate itself clearly from its competitors. This is how we will be successful in
winning new sponsors for the expansion
of the curriculum at HHL and how we will
achieve the increase in student numbers
for which we are aiming. We also give
priority to the expansion of further education opportunities for business leaders.
HHL news: As a former human resources
director at Deutsche Bank, where do you
personally see need for action in
management training today?
There is some catching up to do in terms
of leadership skills. I recommend, on the
one hand, a more critical examination of
various leadership theories and, on the
other, more pronounced involvement of
practitioners.
Apart from practically-oriented education in
economic and business ethics, particular
attention is also being paid today to
Change Management. I think it is an
extremely good idea to do even more in
this area. Processes of change are exactly
the situations in which executives play a
crucial role. They not only have to provide
direction for their employees, they also
have to keep motivation levels up during
phases when many familiar things are
being put aside and new things are only
just beginning to emerge.
Highlights
3
Honorary doctorate bestowed by HHL
On July 23, 2010, HHL conferred honorary
doctorates on Professor Richard B. Mancke,
PhD, (former Academic Director of HHL’s MBA
programs) and Dr. h.c. Bernhard Walter (former
spokesman of the Board of Directors of Dresdner Bank AG and long-time Chairman of the
Supervisory Board of HHL). In the presence of
over 100 guests at Leipzig’s Old Stock Exchange, HHL honored two internationally recognized personalities who have rendered outstanding service over many years.
In his laudation in honor of Dr. h.c. Bernhard
Walter, Professor Hermann Kokenge (former
Dean of TU Dresden) praised Walter’s exemplary pioneering and entrepreneurial spirit in
public life as well as in the banking sector.
For example, thanks to Dr. Walter, over EUR
70 million was raised for the reconstruction
of the Frauenkirche in Dresden. Professor
Kokenge said: “HHL is indebted to Dr. Walter
for his indefatigable commitment to HHL and
his reliability as Chairman of its Supervisory
Board from 2001 until
2009. Dr. Walter laid a
stable foundation for
the further positive development of HHL.”
Professor Dr. Gerhardt Wolff, member
of HHL’s Supervisory
Board, held the laudation in honor of
Professor Richard B.
Mancke, PhD. Professor Wolff said:
“Ten years ago, ProFrom left to right: Dr. h.c. Bernhard Walter, Professor Dr. Arnis Vilks,
fessor Mancke estabProfessor Richard B. Mancke, PhD
lished the internationally renowned MBA
program at HHL. The program combines the
achievement alone, Professor Mancke is a
strengths of the German tradition in microdeserving recipient of an honorary doctorate
economics with the benefits of U.S. educafrom Germany’s oldest business school.”
tion in decision-focussed and practiceVolker Stößel
oriented management knowledge. For this
Top Rankings
Financial Times
Listed in the Financial Times’ “European
Business Schools” ranking for the second time,
HHL was rated No. 59 in Europe, a jump forward
by 11 places compared to last year and ahead of
a number of international business schools.
(Financial Times, December 2010)
HHL’s M.Sc. Program scores in
Financial Times 2010 Ranking
The Financial Times has ranked HHL’s full-time M.Sc.
Program as No. 3 in Germany and No. 38 worldwide.
The Financial Times ranking “Masters in Management” includes 65 business schools and certifies
that HHL excels in terms of job opportunities and
entry salaries (No. 9 and No. 4 respectively worldwide). Within Germany, the M.Sc. Program secured
3rd position with respect to cost-benefit ratio. The
Financial Times ranking is regarded as the most
comprehensive head-to-head comparison between
business schools worldwide, taking data from two
kinds of surveys into account. Firstly, graduates are
interviewed three years after they finish their
studies. Further questions are then answered by
the school itself.
HHL is most popular
business school in Germany
HHL has again achieved the top position in the
trendence Absolventenbarometer 2010. In
a comparison between 102 universities in
Germany, HHL secured first place in seven out
of 10 categories. Around 11,000 students in
business schools and universities throughout
the country were interviewed in the survey
conducted by the trendence institute, voting
HHL top in terms of career service, individual
attention from the faculty and practical
relevance in the teaching.
HHL features in The Best 300
Business Schools, 2011 Edition
According to The Princeton Review, HHL is an
outstanding business school. The editors of the
New York-based education services publication
collected the opinions of more than 19,000
students in AACSB-accredited MBA programs
around the world. The book recommends HHL as
one of the best institutions at which to earn an
MBA, as it offers business students an appealing
mix of a well-established tradition and innovation.
Eduniversal
An international scientific committee selected
the 1,000 most outstanding international
business schools in the world. The deans of
these schools were then asked to make their
recommendations for students wishing to study
abroad. In the deans’ votes, HHL received four
out of five palms and so counts among
Eduniversal’s “Top Business Schools”.
(Eduniversal, 2010)
4
Highlights
HHL lives out its mission
“We educate effective and responsible business leaders
through excellence in teaching, research and practice.”
HHL Discourse on “That’s Just
Not Done...” on November 2, 2010
expressed scepticism that individual ethics
alone can suffice to cope with the problem.
As a lawyer, Ms. Schenk warned that many
companies still underestimate the necessity
of taking active steps. She also reminded
everyone of the equal importance of consumer responsibility, saying that anybody
who always looks for the lowest price should
not demand the highest moral standards.
From left to right: Professor Dr. Arnis Vilks, Professor Dr. Andreas Suchanek, Sylvia Schenk,
Dr. h.c. mult. Helmut Maucher, Professor Götz Werner, Dr. Ursula Weidenfeld
200 guests responded to an invitation to participate in the HHL Discourse organized by the Dr.
Werner Jackstädt Chair of Economic and Business Ethics on November 2, 2010. The theme
of the evening was “That’s Just Not Done…”,
linking in with HHL’s mission to educate effective
and responsible business leaders. In HHL’s new
rooms in Leipzig’s city center, a discussion
evolved between Dr. h.c. mult. Helmut Maucher
(former CEO and current Honorary Chairman of
Nestlé S.A.), Sylvia Schenk (lawyer and former
chairperson of Transparency International),
Professor Dr. Andreas Suchanek (holder of the
Dr. Werner Jackstädt Chair of Economic and
Business Ethics at HHL and Director of the Wittenberg Center for Global Ethics), Professor
Götz Werner (founder and co-owner of the dmdrugstore group and Professor of Entrepreneurship at the Karlsruhe Institute of Technology).
The event was chaired by Dr. Ursula Weidenfeld,
business journalist and founder of the website
www.das-tut-man-nicht.de (“That’s just not
done”). The discussion was opened by a group
of MSc5 students (Stefanie Priemer, David Lau-
ber, Stefan Winkler, Alexander Kolano, Jan Bogner, Michael Guerreiro) with thought-provoking
examples. Following this presentation, the five
participants heatedly debated strategies, concepts and experiences relating to corruption,
layoffs, and child labor, raising questions such
as: Are these and other areas of conflict inevitable for global companies? How do managers
deal with them? Are there “things that just aren’t
done”? Can such an attitude be maintained in
the context of competition in a fast-paced economy marked by globalization? Asked about the
various forms of bribery, former
Nestlé CEO Dr. Maucher put forward the argument that managers are subject to cultural conditions or even constraints.
Sylvia Schenk, an experiened
anti-corruption campaigner, decisively rejected this attitude.
Along with Professor Suchanek, she pointed to the necessity of standards and rules, and
Professor Werner explained that he focuses on
individual responsibility when it comes to business ethics. In his company, everyone has the
option of saying no, and free individual decisions are of utmost importance. Professor
Suchanek advanced the golden rule of business: “Invest in the conditions of social cooperation for mutual advantage.” This corresponds
to the logic of reciprocity as expressed in the
universal norm: “Do unto others as you would
have them do unto you.” In addition, the HHL
Professor of Ethics argued that respect for his
fellow human beings is an article of faith for him
and that he passes it on in educating future
managers. This edition of the HHL Discourse
broke the attendance record thus far, proving
once again that questions of economic and
business ethics are complex and challenging
– and of great interest to the public at large.
Hans-Christian Erdmann/Volker Stößel
Attentive audience at the HHL Discourse on the newly opened floor
of HHL’s City Campus
Highlights
HHL und WCGE enhance cooperation
The collaboration between HHL and the Wittenberg
Center for Global Ethics (WCGE) was expanded in
October 2010 when the two institutes signed a
cooperation agreement in connection with the
program Building Global Cooperation (BGC). The
objective of BGC is to create a partnership of
equals between developed and developing
countries, especially in Africa. More precisely, the
aim is to establish norms for ethical orientation and
responsible action with leadership elites from
business, politics and society, particularly in the
developing countries. The BGC program, which has
been run by the WCGE since 2001, is funded by
donations. HHL’s Chair of Microeconomics, headed
by Professor Dr. Arnis Vilks, is a partner in the
program’s Ethical Issues in Development project
and has hired Ibrahim Bangura from Freetown
(Sierra Leone) in this context. Bangura has a
background in history, political science, gender
research and international development work.
The collaboration was announced during the HHL
board meeting on September 22, 2010, at the
WCGE. After the meeting, members of the board
participated in the Leadership Ethics Colloquium
with around 40 leaders from politics, business,
associations and churches. The conference focused
on the concept of “relevant inconsistencies”
introduced by Professor Dr. Andreas Suchanek.
Professor Bolko Oetinger (The Boston Consulting
Group) and Professor Dr. Gerhardt Wolff (formerly
VNG Leipzig) contributed examples of inconsistencies from everyday business life. In this context,
Professor Wolff pointed out that, “it is reliability that
matters, more than predictability.” Numerous other
practical examples were highlighted in the
subsequent discussion, in the course of which the
relationship between institutional and individual
ethics was also explored. This issue was taken up
again by Professor Dr. Karl Homann, a renowned
expert in business ethics, in his closing speech. He
concluded that responsibility requires good rules,
saying that, as long as irresponsible actions are not
sanctioned but in fact are encouraged, the honest
person will lose out. At dinner in the Luther House,
the Prime Minister of Saxony-Anhalt, Professor
Dr. Wolfgang Böhmer, also underlined the special
responsibility borne by decision makers. Ethics
needs role models and vice versa, role models need
an ethical orientation. This is all the more important,
the more unmanageable the conditions for action
become for managers and political decision makers.
Volker Stößel
5
HHL students awarded scholarship
for Effective and Responsible Leadership
her B.Sc. in International
Business Administration
at the European University Viadrina Frankfurt
(Oder), emphasized the
significance of education
with regard to global solidarity. She concluded
that global markets promote rather than destroy
From left to right: David Laubner, Professor Dr. Arnis Vilks,
global solidarity. RegardStefanie Priemer, Dominik Kanbach
ing the scholarship, she
says: “The internationality
Dominik Kanbach (23), David Laubner (24) and
and practical orientation of the programs at
Stefanie Priemer (23) have won the scholarship
HHL are the two main aspects that prompted
for Effective and Responsible Leadership,
me to apply for one of the popular places in the
which was awarded this year for the second
Master program. I am very happy that the
time. The scholarship for outstanding applischolarship for Effective and Responsible Leadcants admitted to the 18-month Master Proership now gives me the opportunity to study
gram in Management (M.Sc.) is worth EUR
here. The school’s excellent education and per15,000 and supports HHL’s mission to “edufect career service form a great basis for
cate effective and responsible business leaders
my future career.” Dominik Kanbach, who
through excellence in teaching, research, and
graduated with a Bachelor from the University
practice.” All three candidates met the selecof Applied Sciences (FH) in Ludwigshafen, is
tion criteria that include an excellent first univeralso very pleased to receive the scholarship:
sity degree (Bachelor) in business, very good
“I am really honored to be awarded this scholGMAT results (at least 650 points) and an
arship. I am very much enjoying working in
essay titled “Are Global Markets Promoting or
teams with my fellow students at HHL, since
Destroying Global Solidarity?”
their degrees from various universities in
Germany and abroad and their practical exIn their essays, the three candidates analyzed
perience offer great possibilities for understandthe relationship between global markets and
ing different ways of thinking and working. This
global solidarity, highlighting, for example, the
allows us to learn from each other.”
importance of intercultural dialog as a prerequiVolker Stößel
site for economic and social development. In
her essay, Stefanie Priemer, who completed
Rhama Parthasarathy (Indian Ministry of Commerce and Industry), Ramalingam Meenakshisundaram
(International Affairs, IIMB), Frank Hoffmann (HHL), Professor Dr. Andreas Vilks (HHL), Professor K. Kumar
(Chairman, IIMB), Professor Avinash G. Mulky (Marketing, IIMB)
During their visit to India, Professor Dr.
Arnis Vilks and Frank Hoffman had fruitful
talks with the members of renowned Indian Management Institutes in Gurgaon,
Bangalore and Kozhikode on enhancing
HHL’s cooperation in terms of faculty exchange and joint research projects.
6
Highlights
Term starts at HHL with 129 students from 26 countries
A grand total of 129 students from 26 countries enrolled in HHL’s programs for the Fall
Term 2010. Among them are 38 exchange
students from HHL’s ever-increasing network
of partner universities. The proportion of international students at Germany’s oldest business school thus currently lies at around 30%.
The Welcome Days focussed on a debate on
values and on demographic change. The enrollment ceremony for all new students took
place on September 14, 2010. In his speech
entitled “Leading through values”, Professor
Dr. Michael Junker, executive director of Accenture, emphasized: “Leadership means forming a community of values, in which all involved can find/rediscover themselves and
their own values.” Professor Dr. Arnis Vilks,
Dean of HHL, warmly welcomed the new
members of the HHL community: “The education of effective and responsible leaders
begins right now during the Welcome Days.”
The second day of the enrollment event was
supported by Accenture, BASF, Evonik,
Generali Deutschland and ecosense both financially and with plenty of food for thought.
During the afternoon activities, the new HHL
students learned about their school and the
city of Leipzig in a lively way. Divided into
teams consisting of students from all academic programs, they went on a paper chase.
They headed for the offices of the chairs and
administrative staff on the Jahnallee Campus
and the City Campus, where questions such
as ‘What is the meaning of ‘MeCe’ (strategy)?’
had to be answered. The winning team was
rewarded with a little surprise.
The second day was organized by the Dr.
Werner Jackstädt Chair of Economic and
Business Ethics. An intense but enjoyable day
was made possible through the generous
support of the above-mentioned sponsors.
Dr. Johannes Meier (member of HHL’s Supervisory Board, Managing Director Xi GmbH
and former member of the Executive Board of
the Bertelsmann Foundation) provided an introduction focussing on the challenges and
opportunities of demographic change. Afterwards, students had the possibility to find out
about how companies implement strategies
to face demographic change. In the afternoon
session, students had to complete their first
group task, answering questions directly
posed by the partnering companies. One of
the elements was to identify key desired future
employer characteristics, e.g. in terms of worklife balance, working hours, salary or nonmonetary incentives. One interesting result
was that a good work-life balance seemed to
be much more important for students than
high salaries. The day concluded with a great
dinner and party at DaCapo restaurant in Leipzig. With music by Jamtonic, it was a perfect
day for both company representatives and
new students.
Hans-Christian Erdmann / Volker Stößel
Michael Porter honors HHL’s M.Sc. students
From left to right: Professor Dr. Wilhelm Althammer, Professor Michael Porter, Professor Dr. Manfred Kirchgeorg
A high distinction for HHL in the field of cluster
management: Ankit Kumar, Bert Förster, Denise
Engel, Ivelina Florev, Philipp Hahn, Sebastian
Zureich and Svenja Klups (all MSc4) won the
“Best Paper Award”, beating 16 teams from
around the world. An international panel
of experts attested the excellence of the
students’ analysis of the Israeli biotech cluster.
During a cluster conference at Harvard
Business School just before Christmas, the
world-renowned cluster expert from Harvard
Professor Michael E. Porter (center) presented
the certificates for HHL’s Master students to
their professors, namely Professor Dr. Manfred
Kirchgeorg (right) and Professor Dr. Wilhelm
Althammer (left).
Highlights
7
HHL farewells 113 graduates
After another challenging academic year,
113 students from 18 countries celebrated
their graduation on July 24, 2010, with more
than 500 guests at the Congress Center
Leipzig. The graduands this year included
the third Master of Science class (MSc3), the
last cohort of students from the Diplom program (K23), the tenth full-time MBA class
(M10), the fifth part-time MBA class (P5),
and the students who successfully completed their doctorate.
The special guest was Christian Strenger,
director of the new HHL Center for Corporate Governance and member of the German
Government Commission on Corporate
Governance as well as numerous supervisory boards, who delivered the graduation
speech. He stressed the importance of
HHL’s mission to educate effective and responsible leaders, especially in view of the
global economic and financial crisis. In his
opinion, today’s graduates face the challenge of actively and responsibly shaping
the real economy and financial markets for
the future. He wished them the courage to
take reasonable risks, which he said involves the willingness to both make and
admit mistakes.
The occasion also saw the announcement
of the “Best of the Best” awards, as has
become traditional. The title of Schmalenbach Scholar in recognition of academic
achievement was awarded to Tobias M.
Wolff (M10). Martin Wilhelm (K23) and
James Downes (M10) were honored for
their outstanding extracurricular commit-
ment. The DAAD award for Best International Student went to Ramilya Sufianova
from Irkutsk, Russia (MSc4). Uta Fischer
and Jan Auras (both K22), Michael Dornauf
and Erik Hille (MSc2), Sona Zackova (M9),
Jan Hartlieb and Thomas Klein (P3) were
honored as the top graduates in their respective classes. Oliver Ehrlich, doctoral
student at HHL, received a Beta Gamma
Sigma scholarship. The Martens & Prahl
Research Award 2010 for outstanding research associates at HHL went to Sebastian Hoffmann and Dr. Marco Sperling. The
KARL KOLLE Prize 2010 for strategic management at HHL was awarded to Friedrich
von Bernewitz (K22). Last but by no means
least, the graduates also presented their
own awards, honoring the HHL faculty and
staff voted best in their respective categories
by HHL students at the end of the academic year. The recipients were Professor
Dr. Torsten Wulf (best professor), Professor Dr. Remigiusz Smolinski (best guest
lecturer), Alberto Chullen Llamas (best research associate), and Petra Spanka (best
administrative staff member). After an ecumenical service at the worldfamous St.
Thomas Church and the ceremony in the
Congress Center, the graduation ball in
DaCapo restaurant provided an appropriately relaxed end to the special day.
Volker Stößel
DAAD Prize 2010 awarded to best international student
HHL graduate Ramilya Sufianova (23) is the winner of
the 2010 German Academic
Exchange Service (DAAD)
Prize for the best international student.
From left to right: Professor Dr. Andrey V. Zverev,
Frank Hoffmann, Ramilya Sufianova
The prize, worth EUR 1,000,
was presented at the graduation ceremony in July in the
presence of Professor Andrey V. Zverev, head of the
Trade and Commerce Office
at the Embassy of the Russian Federation,
and Envoy of the Embassy of the Russian
Federation. Sufianova received the award in
recognition of her outstanding performance
during her studies as well as her involvement in extracurricular activities such as
The Negotiation Challenge (TNC).
Originally from Russia, Ms. Sufianova was
able to come to study in Germany thanks
to financial support from the DAAD and the
KARL-KOLLE-Foundation.
8
Highlights
HHL Award: Ready for Business
HHL MBA student wins 3rd prize at
Buse Awards 2010
Marko Krause (M11) has been awarded third
prize in the Buse Awards 2010 essay competition. The prize, which is worth EUR 500, is
awarded by the firm of solicitors Buse Heberer
Fromm and GoingPublic Magazin in collaboration with the European Law Students Association
(ELSA) and the Bundesverband der Börsenvereine an deutschen Hochschulen e.V. (BVH). As
one of the best five writers, Krause was invited
to the prize-giving ceremony in Lisbon on
September 18, 2010, and presented his essay
on the topic of “Regulations for Credit Rating
Agencies” to the jury in person. Extracts of the
three winning essays were published in
GoingPublic Magazin.
From left to right: Professor Dr. Arnis Vilks, Sonja Hahn-Tomer, Kerstin Trautmann
Together with futureSAX, a business plan
competition run by Businessplan-Wettbewerb Sachsen GmbH, HHL awarded the
Ready for Business founder prize to ARSOlux GmbH in September 2010. Entrepreneur
Sonja Hahn-Tomer deeply impressed the
jury consisting of HHL’s Executive Management Professor Dr. Arnis Vilks (Dean) and
Dr. Judith Marquardt (Chancellor), the Head of
HHL’s International Entrepreneurship Program, Dr. Stefan Stubner, and the CEO of
Businessplan-Wettbewerb Sachsen GmbH,
Kerstin Trautmann, with her business model
for selling a new and patented measuring
sensor for detecting arsenic pollution in
drinking water and groundwater.
An estimated 50 million people around the
world suffer from polluted water. HahnTomer emphasizes the importance of her
business: “Clean water is essential for a full
life. ARSOlux provides robust, precise and
easy-to-handle biosensors which facilitate
a fast and economical analysis of arsenic
and other chemicals in water.” The innovative venture is backed by the Helmholtz
Centre for Environmental Research – UFZ.
The HHL Award is intended to help promising entrepreneurs on their path to success
by offering them knowledge and skills to
advance their businesses. Thus, the prize
is a module of the HHL MBA Program:
“Managing New Ventures & Growth”, “Managing Customers, Employees, Processes” or “Managing Society”. After picking
up the award, Hahn-Tomer said: “I am delighted to receive the HHL Award: Ready for
Business, especially since the ARSOlux
business model improves access to clean
water, a universal human right which was
officially recognized by the United Nations
only last July.”
HHL at the Researchers’
Night in Leipzig
Almost all of Leipzig’s academic institutions
participated in the second Researchers’ Night
on September 24, 2010, and HHL was of
course among them. The business school
presented projects under the slogan “Ideas
and strategies for intelligent energy solutions”
at City Campus in Katharinenstraße. In the
course of the night, HHL held three presentations on saving energy and renewable energy.
One was given by the student initiative HHL
Energy Club, which introduced its work as a
forum for discussing energy-related topics.
Volker Stößel
HHL students successful in EXIST business game competition
Sarah Jentzsch, Christian Hetke and Dennis
Grosche, students in HHL’s M.Sc. class MSc4,
won the Professional Cup East in the nationwide business game competition EXIST-priMECup. 12 teams from entrepreneur-oriented
universities competed in the computer-based
business game focusing on “Succession in
Enterprises”. Professor Duttle, manager of the
event, particularly praised the fairness and the
strong work commitment of the Leipzig team.
At the beginning of October, Sarah Jentzsch,
Benedikt Billmann and Dennis Grosche (all
MSc4) came in 12th (out of 15) in the final round
of the EXIST-priME-Cup in Berlin, when the
students were asked to produce a business
plan for a solar company. Worthy of note is that
at the time, the students were in their term
abroad in the U.S., South Korea, and Costa
Rica, and so had to make considerable efforts
to get to Berlin for the event. Hats off to their
commitment! Their participation in the final
round of the EXIST-priME-Cup was financially
supported by VIEW e.V. (Verein für Innovation,
Existenzgründung und Wachstum an der
HHL), headed by Professor Dr. Schwetzler.
The aim of VIEW e.V. is to foster practical and
scientific research and discussion in the field of
innovation, entrepreneurship and growth.
Highlights
9
Scholarships from German Academic
Exchange Service (DAAD)
Scholarships are vital for the support of young
people, giving them the best possible chance
of gaining a quality educational experience.
Scholarships relieve the financial pressure and
so ensure that highly talented, dedicated students can concentrate on their studies.
The German Academic Exchange Service
(DAAD) is pre-eminent among institutions
granting scholarships in Germany. At HHL,
DAAD scholarships have been awarded
since 1996, supporting German as well as
international students.
In 2010, the DAAD provided 48 HHL students and 10 staff members with funding
totalling EUR 140,000. In addition, at least
EUR 50,000 was awarded by other organizations (including the Association of Friends
of HHL, the Karl-Kolle-Foundation, the
Daniela and Jürgen Westphal-Foundation,
Mrs. Gudrun Demling, and the Fulbright
Commission) to help students go abroad
as part of their studies or to assist HHL students from abroad with their living costs in
Germany.
at HHL. Ten lecturers and administrative
staff members received ERASMUS grants
for their stays abroad.
DAAD supports international academic exchange. In 2010, a total of 23 HHL students in
various programs received money for a term
abroad. Furthermore, six incoming exchange
students from India were awarded financial
support as part of the program “A New Passage to India” and within a special program for
students at the Indian Institutes of Management. An additional 15 HHL students from
outside Germany received substantial assistance towards their living costs from various
DAAD programs. The DAAD also granted
Teaching and Research Assistantship scholarships to four overseas doctoral students
Gulya Bakeberg says: “I was thrilled to receive the letter from HHL telling me that
I was entitled to the DAAD scholarship. I
moved from Bayreuth to Leipzig to study at
HHL and, as most students do, rented an
apartment. The scholarship covers my
apartment rental for almost 12 months,
which is a great help.” The student from
Uzebekistan is in good company: around
the world 70,000 German and international
students and scholars are supported by the
DAAD every year.
Carolyn V. Teschner
KARL-KOLLE-Foundation honors practicerelevant Diploma thesis
Friedrich von Bernewitz (K22) has won the
KARL KOLLE Prize for Strategic Management 2010 at HHL. He received the award
in recognition of his excellent Diploma thesis entitled “Future Scenarios for the Photovoltaic Industry in Germany”. The thesis applies a scenario planning method which was
jointly developed in a collaboration of HHL
with Roland Berger Strategy Consultants.
The prize, worth EUR 1,000, was awarded
for the second time. Excellent academic
performance and demonstrated social responsibility are the principal selection criteria for the award.
Von Bernewitz is delighted: “I am particularly pleased to receive the KARL KOLLE
Prize, since it underscores the relevance
of my Diploma thesis. Moreover, I am hoping for interesting connections through
the multidisciplinary scholarship network.”
Winfried Pinninghoff, chairman of the board
From left to right: Winfried Pinninghoff, Ramilya Sufianova, Friedrich von Bernewitz
of trustees of the KARL-KOLLE-Foundation, said in his laudation of the winner: “Mr.
von Bernewitz submitted a superior thesis
on a highly topical subject, which company
representatives have judged to be leading
edge. The recommendations for action presented in the thesis should prove valuable
for practitioners in the photovoltaic industry.”
Volker Stößel
10
Highlights
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Partners
11
HHL Excellence Dinner 2010 –
EUR 440,000 for growth strategy
On October 20, 2010, the third “HHL Excellence Dinner” took place at the premises of
Deutsche Bank AG in Leipzig. Once again,
HHL wanted to say “thank you” to its partners and friends, and to encourage these
foundations and companies as well as new
contacts to support current and future projects. Around 100 guests from the realms of
politics, business and foundations joined
members of HHL’s boards for the evening.
Markus Wägner, Chairman of the Board of
Deutsche Bank Private and Business Clients, Leipzig, welcomed the guests to his
company’s spectacular building. The event
began with welcome speeches by Professor
Dr. Arnis Vilks, Dean of HHL, and Dr. Tessen
von Heydebreck, Chairman of HHL’s Supervisory Board and Chairman of the Deutsche
Bank Foundation. We also very much appreciated the speech by Professor Dr. Sabine von Schorlemer, Saxon State Minister for
Science and the Arts, who highlighted
HHL’s role in the educational infrastructure
of Saxony and its success over the last few
years: “HHL represents a truly international
learning environment, in which students are
being prepared for the challenges of
tomorrow’s world by equipping them with
leadership tools, teaching them innovation
skills and a sense of responsibility towards society,” she said. Professor Dr. Knut
Löschke, Chairman of Softline AG, Leipzig,
and the evening’s special guest speaker,
highlighted the importance of leadership
skills in the education of future business leaders. In addition to ensuring that students
possess the right competencies to become
top managers, discovering leadership talents early and fostering
them is also central to a
business school’s role.
Thanks to our long-standing supporters: Mario Bauer (Chamber of Commerce and Industry Leipzig),
Martin Bücher (Sparkasse Leipzig), Heide Gutsfeld (Leipzig Foundation for Innovation and Technology Transfer),
Dr. Horst Nasko (Heinz Nixdorf Foundation).
Heinz Nixdorf Chair of IT-based Logistics by
EUR 300,000 (see page 40) and the Alumni
Association of HHL announced the founding of an alumni trust foundation with almost
EUR 60,000 of initial capital. (See below
for a list of all sponsors and donors). This
is another step towards strengthening HHL
as one of the best business schools in
Germany and promoting it into the top 10
in Europe.
Looking forward, Dr. Tessen von Heydebreck
introduced HHL’s designated new executive
management Professor Dr. Andreas Pinkwart as the new Dean and Dr. Axel Baisch as
the new Chancellor, who will take up their
positions on April 1, 2011.
Several speakers also
took the opportunity to
encourage the guests to
take responsibility for future generations by supporting HHL. In all, donations worth EUR 440,000
were promised during the
evening. The Heinz Nixdorf Foundation extended its support for the
Supporters at the
HHL Excellence Dinner:
Heinz Nixdorf Foundation
HHL Alumni Association
SAM Sachsen Asset Management GmbH
Leipziger Stadtbau AG
Deutsche Bundesbank, Leipzig
Immo100 GmbH
Dr. Nikolaus Petersen, Petersen Gründel
Rechtsanwälte Steuerberater
Weidinger / Richtscheid Rechtsanwälte
HLkomm Telekommunikations GmbH
Datenlotsen Informationssysteme GmbH
Shape the future. Support HHL!
Account name:
Handelshochschule Leipzig gGmbH
Bank: Sparkasse Leipzig
Bank code: 860 555 92
Account number: 1100 104 956
IBAN: DE59 8605 5592 1100 1049 56
BIC (SWIFT CODE): WELADE8LXXX
Purpose of payment: Spende/Donation
Contact:
Ulrike Maria Dienemann
Head of Business Development
Phone: +49 341 9851-618
E-mail: [email protected]
Partners
12
Interview
Wolfgang Topf, President of
the Chamber of Commerce and
Industry Leipzig (IHK)
into being by the then young IHK back in
1887: the Kramer Foundation. Similar to
the historical model, today’s Kramer
Foundation originated from the realization
that an economy can only be as strong as
the young entrepreneurial talent it brings
forth. Numerous universities have only
established university foundations for
long-term funding in the last couple of
years, showing just how innovative the idea
was back then. The Kramer Foundation’s
objective yesterday and today is to shape
the future: the interest earned on the
endowment capital serves to promote
entrepreneurial education at HHL. The
Leipzig IHK is a shareholder in HHL and so
supports the growth plans of Germany’s
oldest business school.
program is manifested by more than 100
start-ups established by alumni within the
past 13 years. Moreover, the open-enrollment management training programs
offered by HHL Executive contribute to
retaining and developing highly skilled
employees in the region, strengthening
economic vitality in and around Leipzig. At
this point, I would like to appeal to further
companies, foundations and, of course,
individuals to become involved in HHL.
HHL news: In your opinion, what skills
and attributes must a manager have
today?
Today’s business world needs managers
who are able to think globally and who
understand global markets. That’s precisely
why HHL and its students have to support
local small and medium-sized enterprises
even more than they already do. We expect
HHL graduates to take personal responsibility, start businesses and create jobs,
preferably in the region – whereby this last
point means that they also take their share
of social responsibility. And there are
already good examples of this
happening.
HHL news: The Chamber of Commerce
and Industry Leipzig (IHK) is of particular
importance for HHL.
Yes. After the reunification of Germany, the
IHK played a significant role in promoting
the re-foundation of HHL. At the same
time, in 1992 we also decided to re-establish a foundation which had been brought
HHL news: How is the IHK involved
in HHL’s academic programs?
Besides funding the chair of the acting
Dean, we support entrepreneurial education at HHL. The IHK is a knowledge
platform linking the management school
and regional companies, and we promote
the open business plan seminar at HHL.
The success of HHL’s entrepreneurship
SUPPORTERS OF HHL 2010
We would like to express our deep appreciation to all our financial partners.
GOLD PARTNERS
(EUR 100,000 and more)
The Chamber of Commerce and Industry
Leipzig (IHK), Leipzig
Deutsche Bank AG, Frankfurt/Main
Dr. Werner Jackstädt Foundation, Wuppertal
Heinz Nixdorf Foundation, Essen
Kramer Foundation of HHL, Leipzig
Leipzig Foundation for Innovation
and Technology Transfer
Roland Berger Strategy Consultants GmbH,
Munich
Sparkasse Leipzig
SILVER PARTNERS
Academic Society for Marketing and
Business Leadership, Leipzig
Association of Friends of HHL, Leipzig
Bertelsmann Business Consulting, Gütersloh
DWS Investment GmbH, Frankfurt/Main
Gudrun Demling, Bavaria
HHL Alumni Association, Leipzig
KPMG AG, Berlin
Peter Pribilla Foundation, Munich
Sachsen Bank, Leipzig
SAM Sachsen Asset Management GmbH,
Leipzig
Uniplan GmbH & Co. KG, Cologne
BRONZE PARTNERS
BASF SE, Ludwigshafen
Bayer AG, Leverkusen
Bertelsmann AG, Gütersloh
Booz & Company, Munich
Checkstone GmbH, Leipzig
Decimus GmbH, Mainz
Duff & Phelps GmbH, Munich
Ernst & Young Foundation, Stuttgart
Henkel KGaA, Düsseldorf
KARL-KOLLE-Foundation, Dortmund
KWL – Kommunale Wasserwerke
Leipzig GmbH, Leipzig
MLP Finanzdienstleistungen AG, Heidelberg
Stifterverband für die Deutsche
Wissenschaft, Essen
SV SparkassenVersicherung Holding AG, Stuttgart
The Boston Consulting Group GmbH, Munich
CIRCLE OF FRIENDS
Accenture GmbH, Kronberg/Taunus
AGIL GmbH, Leipzig
Arthur D. Little, Wiesbaden
A.T. Kearny, Düsseldorf
Auerbachs Keller Rothenberger Betriebs GmbH,
Leipzig
BDO Deutsche Warentreuhand AG
Wirtschaftsprüfungsgesellschaft, Leipzig
HHL
News
– winter 2010/2011
BioPlanta
GmbH
, Leipzig
Brunswick Group GmbH, Frankfurt/Main
Citigroup Global Markets Deutschland AG,
Frankfurt/Main
CMS Hasche Sigle, Berlin
Commerzbank AG, Leipzig
Credit Suisse Limited, Frankfurt/Main
Department for Agriculture, Forestry, Environment and Nature Conservation Thuringia
Detecon Schweiz AG, Zurich, Switzerland
Deutsche Kreditbank AG, Leipzig
Dow Olefinverbund GmbH, Schkopau
Dr. Horst Saalbach, West Palm Beach, Florida
Dr. jur. Dr. h.c. Ludwig Trippen, Münster
eBay GmbH, Berlin
Ernst & Young AG, Frankfurt/Main
Evonik Industries AG, Essen
Franz Haniel & Cie. GmbH, Duisburg
Generali Versicherung AG, Cologne
Horváth & Partners, Management Consultants, Stuttgart
IBM Deutschland GmbH, Ehningen
Industrial Initiative for Central Germany, Leipzig
Jenoptik AG, Jena
KIROW Leipzig AG, Leipzig
Leonardo & Co. GmbH & Co. KG, Frankfurt/Main
McKinsey & Company Inc., Frankfurt/Main
Mercedes-Benz Niederlassung Leipzig
Merkur Druck- u. Kopierzentrum GmbH, Leipzig
Morgan Stanley, Frankfurt/Main
Niemanns Tresor, Leipzig
Partners
We would like to say thank you to
all the supporters of the Golf Cup:
Auerbachskeller, Familie Rothenberger
Avantgarde Dentaltechnik GmbH
Deutsche Bank AG, Leipzig
Deutsche Lufthansa AG
Dialysezentrum Elsterland
DWS Investment GmbH
Dr. jur. Dr. h.c. Ludwig Trippen
Gasthof Böhme und Nürnberger, Störmthal
Golfhotel Fahrenbach, Tröstau
Günther Rothe
HLS-Berger
Hotel Fürstenhof Leipzig
Jana Martin (www.incentivearts.de)
Kilowatthandel AG
Mattukat & Partner, Steuerberatungsgesellschaft
Merkur Druck- & Kopierzentrum GmbH
MBM Full-Service-Agentur GmbH
Mechanische Werkstatt Göbel
Parfümerie Douglas GmbH
PETERSEN GRUENDEL Rechtsanwälte Steuerberater
Pilot Café, ENK Leipzig GmbH
Rotkäppchen-Mumm Sektkellereien GmbH
Restaurant Weinstock, Herbert Englert
Gastronomiebetriebe GmbH, Leipzig
Sachsen Bank, Leipzig
SIGNAL Krankenversicherung a.G., Leipzig
TDB Prozessautomatisierung Ltd.
The Westin Bellevue, Dresden
Thomaskirche, Leipzig
www.ab-in-den-urlaub.de, Unister Holding
www.taschenkaufhaus.de
Weidinger | Richtscheid Rechtsanwälte
Xenofit GmbH
Zentralkonsum eG, Berghotel Oberhof
OC&C Strategy Consultants GmbH,
Düsseldorf
PETERSEN GRUENDEL Rechtsanwälte
Steuerberater, Leipzig
PricewaterhouseCoopers AG, Frankfurt/Main
Procter & Gamble Germany GmbH,
Schwalbach/Taunus
Public Relations v. Hoyningen-Huene,
Hamburg
Q-Cells SE, Thalheim
Robert Bosch GmbH, Stuttgart
Rothschild GmbH, Frankfurt/Main
SakostaSKB GmbH, Ziegelheim
Siemens AG, Leipzig
Siemens Management Consulting, Munich
Stadtwerke Leipzig GmbH, Leipzig
TDB Prozessautomatisierung Ltd., Bitterfeld
Technologiegründerfonds Sachsen
Verwaltungs GmbH, Leipzig
VNG – Verbundnetz Gas AG, Leipzig
Volksbank Leipzig eG, Leipzig
Weidinger | Richtscheid Rechtsanwälte,
Leipzig
We also appreciate the commitment of
all sponsors of our Manager Golf Cup and
students’ initiatives. Please take a look at
their articles.
(Dec 2010)
13
Successful 2nd HHL Manager
Golf Cup – networking and
fundraising on the green
Participants and supporters, from left to right: Professor Dr. Georg Milbradt, Knut Göbel,
Christian Haase, Dr. Horst Saalbach, Frank Köhler and Christian Strenger
On September 3, 2010, the second HHL
Manager Golf Cup took place at the Dübener
Heide course. Around 60 business leaders,
friends of HHL and members of the HHL
community had the opportunity to show their
golf skills and support HHL’s successful Entrepreneurship Program.
We are very grateful to the patrons of this
year’s Golf Cup: Dr. Horst Saalbach – who
also initiated the tournament last year Professor Dr. Georg Milbradt, Chairman of HHL’s
Kramer Foundation and former Prime Minister of the Free State of Saxony, Uwe Albrecht, Deputy Mayor of Leipzig for Economic
Affairs and Labor, Christian Strenger, Director
of the HHL Center for Corporate Governance
and member of the supervisory board of
DWS Investment GmbH, and Frank
Köhler, CEO of TDB Prozessautomatisierung Ltd. Thank you
for your support!
The weather was perfect and after
a brunch, 60 experienced and new
golfers enjoyed the tournament.
This year’s winners were: Christian
Strenger and Thomas Weidinger
(Team winner gross), Ron Geissler
and Philipp Sommer (Team winner
net). For the first time, there was
also an evening event organized
around the award ceremony. This
year’s award ceremony was
compèred by Knut Göbel, President of the 1.
Golfclub Leipzig e.V. The winners were delighted to receive vouchers for hotels and restaurants, polo shirts, golf equipment and
other articles. Afterwards, Professor Milbradt
and Dean of HHL Professor Vilks gave some
information about HHL’s future plans and current activities, and thanked all supporters.
Ekkehard Becher from the Golf Club in his irresistibly charming manner, managed to convince many spectators to make generous
donations. At the end of the day, the Entrepreneurship Program was EUR 11,000 better
off. HHL is very grateful to all the day’s sponsors and supporters. A warm thank-you also
goes to the service team of the golf club, who
looked after all the guests so excellently until
late in the evening.
14
Executive Education
Tactful Leadership at HHL Executive –
musical seminar on how to orchestrate teams
From June 17 to June 19, 2011, HHL Executive will conduct a very special top-class
leadership seminar in cooperation with
Bachfest Leipzig and MAESTRO-MANAGER. The seminar, called “Führen mit Taktgefühl – Managementprofis dirigieren Spitzenmusiker” (Tactful Leadership – Management Professionals as Conductors), transfers the non-verbal communication and
leadership skills applied by conductors into
the business world of high-level managers.
The instructors are Roderick Shaw, Alice
Heiliger and Andreas Goerlich, who are all
professional musicians with extensive experience in interactive management training.
Participants will apply their newly learned
body language and non-verbal leadership
skills to conduct an ensemble of professional
musicians.
The highlight of the seminar will be the closing
concert of the 2011 Bachfest Leipzig featuring
Johann Sebastian Bach’s Mass in B minor,
which will give the participants the opportunity
to witness non-verbal leadership at its best.
Successful leadership is very similar to conducting an orchestra
Dates and Facts
Duration:
Locations:
Seminar fee:
Contact:
June 17-19, 2011
HHL Executive (Katharinentraße 17) and Sommersaal of the
Bach-Archiv Leipzig (Thomaskirchhof 15/16)
EUR 2,395 (plus VAT)
HHL Executive, Dr. Evelyn Kästner, Tel. +49 341 9851 832,
>> www.hhl.de/fuehren-mit-taktgefuehl
Euro*MBA celebrates 15th anniversary
The Euro*MBA finalized its 2010 tour with a
residential week in the sunny Mediterranean
city of Aix-en-Provence. The topic was entrepreneurship. Working in groups with supervision from industry experts, business
angels and venture capital investors, the
participants wrote their own business plans
and learned about how to develop and set
up their own businesses. Student Christian
Dal Ben says: “If you want to start up your
own business and you need tools, methodologies and tips as well as lessons from real
entrepreneurs, you have to take the
Euro*MBA. The residential week in Aix-enProvence offered a unique opportunity to
concretely help some peer students interested in creating their own
company. The constant support
and feedback, especially during
the final presentation of each business project designed to simulate
how to get the initial funds, was
invaluable for me.”
Euro*MBA participants are now
preparing for the 2011 tour, a special year as the program will be
celebrating its 15th anniversary.
Maastricht University School of
Business and Economics will host the students for a week in January on the subject
of organizational learning and transformational change. At Kozminski University in
Warsaw in May, participants will focus on
the topic of managing emerging markets.
The last residential week in 2011 will take
place in September at Audencia Nantes
Graduate School of Management in France,
where students will learn about corporate
social responsibility.
The application deadline for the Euro*MBA
Program starting in September is July 15,
2011.
>> www.hhl.de/euromba
Executive Education
15
Study shows executive education
increases employees’ loyalty
In November 2010, HHL Executive published
a study investigating the impact of executive
education on employees’ loyalty to their
company. The people who are most willing to
change their work environment in order to
improve their working conditions are young
females with an academic background, a finding which should serve as a warning signal in
the light of current demographic developments and the upcoming skills shortage.
However, various analyses show that providing skills development opportunities for
employees on a regular basis and offering
them clear career options significantly lowers their readiness to change jobs in the
next 12 months and also reduces their willingness to move to another part of the
country. Furthermore, actively encouraging
employees clearly increases their job satis-
faction which, again, lowers the likelihood of
them leaving. The study is based on a telephone survey of 1,263 German adults be-
How much do you agree with the following statement: “I’m willing to change
my job within the next 12 months in order to improve my work environment”
not at all
satisfied
rather not
satisfied
partially
satisfied
rather
satisfied
totally
satisfied
rather agree
General Management
Program 2011
The second intake of HHL Executive’s
General Management Program (GMP) in
2011 will take place from May 5, 2011, to
November 12, 2011. The open-enrollment
program with Professor Dr. Torsten Wulf as
Academic Director is designed for managers who want to expand their business
knowledge.
The 15-day program (in German) costs EUR
9,000 plus VAT. Special financial support is
available from the European Union.
>> www.hhl.de/gmp
totally agree
New staff
Modules and Dates
Strategy & Competition
Professor Dr. Torsten Wulf
May 5-7, 2011
Problem Solving & Projects
Dr. Stephan Stubner
June 9-11, 2011
Brand Management
Professor Dr. Manfred Kirchgeorg
June 30-July 2, 2011
Leadership & Communication
Maren Lehky
September 1-3, 2011
Controlling & Finance
Dr. Martin Weiss
October 6-8, 2011
Contact:
HHL Executive
Dr. Evelyn Kästner
Manager Marketing/Communications
Tel.: +49 341 9851-832
tween the ages of 16 and 67. For more detailed information, please contact Dr. Evelyn
Kästner ([email protected]).
Business Simulation
November 10-12, 2011
Dr. Evelyn Kästner joined HHL Executive in October
2010 as Manager Marketing/Communications. Originally from Dresden, she studied
Communication Sciences, Psychology and
Cultural History at Friedrich-Schiller-University
Jena before coming to HHL’s Chair of Marketing Management in May 2006, where she
worked as a Research Associate and Project
Consultant until June 2010. As a freelance
consultant and teacher, she also gained
extensive experience in marketing and
communication management in various
industries.
Students
16
15th anniversary of the European
Ivy League – score for more!
Since its founding back in 1997, HHL’s legendary soccer tournament has grown its
fan base every year, attracting over 500 participants in 2010. The European Ivy League
(EIL) brings together students from Europe’s
top business schools and company representatives to enjoy competition, to network
and to have a lot of fun.
Save the date: EIL XV will take place on the
weekend after Ascension Day, from June 3
to 5, 2011, in the beautiful city of Leipzig.
Organizing the event while at the same time
studying at HHL is a challenging task and a
great experience. An international team of 22 HHL students
headed by Henning Brauser
(MSc5) and Michael Müller
(M11) will meet the challenge
this year.
We look forward to welcoming
you to EIL’s 15th anniversary!
>> [email protected]
EIL organizers Henning Brauser (MSc5) and Michael Müller (M11)
Business students and philanthropic projects –
no contradiction but reality for Business Students
Without Borders e.V.
Filling and wrapping shoeboxes
from left to right: Katharina Nicolay, Victoria Berger, Amrei Kunze (all MSc5)
Business Students Without Borders e.V.
(BSWB) is an organization of HHL students
which primarily aims to enable HHL students
to actively contribute to projects in the region around Leipzig as well as in developing
countries. The group’s members provide
theoretical and practical assistance in economic matters on a local and international
level. For this purpose, the students partici-
pate in existing projects or try to develop
their own in order to apply their business
knowledge and experience to help people
help themselves in a sustainable and responsible manner.
The organization was founded by students in
the MSc4 and M10 classes in 2009 and is
now run by students in the MSc5 class.
At the end of 2010, BSWB brought the project
Weihnachten im Schuhkarton (Christmas in a
shoebox) to HHL. More than 40 shoeboxes
were filled and wrapped up by students and
staff members during a joint event. Afterwards,
the boxes were sent to needy children in Eastern Europe with the help of the organization
Geschenke der Hoffnung e.V. (Presents of
Hope). In order to raise money for the shipment,
BSWB collected deposit-refundable bottles at
the HHL campuses for 6 weeks with great success. We once again thank both HHL students
and staff members for their commitment and
donations. Moreover, most members of the organization are currently developing a business
plan with three female entrepreneurs with a
Middle Eastern background. This project, which
is being conducted in cooperation with common purpose e.V. in Leipzig, aims to provide a
sustainable living for the women.
In 2011, the club will be seeking to cooperate
with the Honeybee Network in order to assist
in ongoing development projects focusing on
grass-root innovations, i.e. enabling entrepreneurs in developing countries to make a living
based on their inventions, and on preserving
traditional knowledge.
>> [email protected]
Students
accelerate@HHL
Have you had good ideas in the past? Are you
interested in success? Have you ever thought of
quitting being an employee and starting your
own business?
The initiative was founded in 2000 and aims to
foster entrepreneurial thinking. Activities in the
past have included an annual conference with
start-ups and venture capital companies, guest
lectures, company visits, and much more. The
initiative is fully managed by students, and
support from the Program for International
Entrepreneurship is available.
All interested members of HHL are welcome to
join us. We plan to visit several start-ups in
Berlin in January 2011, when we will also go
to the Hasso Plattner Institute, the University
Center of Excellence in IT Systems Engineering
in Potsdam, and other non-commercial and
e-commerce start-ups. Next year, we will also
be hosting several guest speakers who will
share their experiences in running their own
businesses. It promises to be a very interesting mix.
Simon M. Dornscheidt (M11) /
Benjamin Hammer (MSc5)
Chairmen of accelerate@HHL
HHL co-signatory of National Code
of Conduct on Foreign Students at
German Universities
HHL is one of the co-signatories of the new
National Code of Conduct on Foreign Students
at German Universities. The guidelines have
been adopted by the German Rectors’
Conference (HRK). The Code aims to safeguard and improve the quality of service for
international students in Germany. Based
on this Code, foreign students can rely on
minimum standards regarding information,
advertising, admission and supervision.
17
Auction generated more
than EUR 1,000 for HHL
student initiatives
Tobias M. Wolff (M10)
During HHL’s international evening supported
by Berlin-Chemie AG and Booz & Company
GmbH on October 15, 2010, an auction was
held to raise money for HHL student initiatives. A grand total of EUR 1,067 was raised
within a short period of time. Tobias M. Wolff
(M10) came up with the idea of creative fundraising for a good cause. He himself conducted the lively auction, which saw guests
bidding feverishly for more than 15 great
items. Among the unique and fascinating
goods and services up for auction were
horse riding lessons, business plan coaching, a coffee subscription, babysitting and
housekeeping services, theater tickets and a
PR consultation, all donated by HHL’s staff or
alumni. Special thanks go to all donors, in
particular HHL’s own entrepreneurs Betreut.
de, Coffee Circle, Mister Spex and SunCoal,
as well as to the auctioneer, whose powers
of persuasion were a major contributor to the
success of the evening.
Tobias M. Wolff said: “Experience shows that
fundraising has become very difficult nowadays. However, to attract funding, you can
score with creative new ideas. I am glad about
how spontaneously alumni, staff and students
participated in the auction and submitted prizes that express their respective skills.”
Become world champion
in negotiation!
Students of HHL invite international student teams to the 5th World Negotiation
Championship March 11-13, 2011.
Founded in 2007 as a joint project of students
and doctoral candidates from Harvard Law
School and HHL – Graduate School of Management, The Negotiation Challenge (TNC)
is the first international negotiation competition in Europe and one of only few international negotiation competitions in the world.
The primary idea behind The Negotiation
Challenge (TNC) is to provide a competitive
platform to help prepare students for complex business negotiations that they will face
after graduation.
The contest allows students from leading universities from all over the world to come together and compete against each other in realistic team negotiation situations. Participating
in TNC offers a great opportunity to experience diverse ways of negotiation and to meet
and network with students from various countries with different backgrounds and cultures.
>> www.the-negotiation-challenge.de
News about the latest
research projects and results,
public events, and new developments at HHL
www.hhl.de/news
Students
18
E-Mobility Conference
by HHL Energy Club
Organizing team of the HHL Energy Club event
From April 14 to 16, 2011, the Energy Club
will hold its first Energy Conference at HHL,
focussing on E-Mobility – Implications for
Business Models and Infrastructure. The
event will be the perfect opportunity to discuss problems, trends and opportunities
concerning e-mobility. The target audience
are business students from leading German
universities and renowned specialists in the
field. In addition, companies in the automotive, technological, consulting and utility business are invited to participate to gain impor-
tant insights, share their opinions and come
into contact with young professionals.
Since its foundation in September 2009,
HHL Energy Club’s declared aim is to foster
understanding of energy-related issues. The
objective is to extend this goal beyond HHL
students. Through the Energy Conference,
business students will have the chance to
deepen their knowledge about the topic of
e-mobility and at the same time network with
companies.
Summer Program “Doing Business
in the Enlarged European Union”
The two-week course for students from HHL’s
international partner universities took place July
19 – 31, 2010. The lectures, some held at HHL
and some in Prague, were given by international experts in the field of transitional economies
and by guest lecturers from the business world.
The summer program’s main objective is to
study practice-oriented business content and
to find out about cultural differences between
EU countries.
The number of participants from North America
were remarkably high, with more than three
quarters of the attendees coming from the
U.S., for example from the University of Chicago Booth School of Business and the University of Louisville. Students also came from
Sabanci University, Turkey, and Nanyang
Technological University, Singapore.
Congratulations! Bettina Redl (M10) won the
photo competition on HHL’s blog. HHL’s outgoing
exchange students were asked to submit a photo
describing an exceptional cultural experience in
their host country. Bettina Redl’s photos show the
Catalonian tradition of the Castellers (the human
tower builders) at a folk festival in Barcelona/Spain.
>> www.hhl.de/wordpress
Students
19
Growing accademically and personally – students travel the world
Culturally - what was the most fascinating
thing about your host country?
Chicago has a lot to offer to exchange students.
It is a perfect mix of academics, politics, culture
and leisure. And, of course, the outstanding
reputation of Booth School of Business at the
University of Chicago in teaching and research
played a major role in our decision to come here.
For you personally, what is the most
outstanding feature of your studies at the
partner university?
The school exceeded our expectations. The
professors not only explain recent findings and
frameworks in a gripping way, but also inspire
Christian Hetke (MSc4),
INCAE Business School,
Costa Rica
students to question common assumptions.
The classroom experience is further enriched
by meaningful discussions with a carefully selected and diverse student body. Of course, intellectual work requires a lot of time and effort,
which certainly pays off, but there is always
enough time for other activities: listening to
President Obama giving a speech on the campus, exploring Chicago’s various museums,
enjoying a drink with people from different cultures on the 94th floor of John Hancock Tower
or meeting fellow students at the traditional
Friday night buffet organized by the University
– Chicago has it all!
Sabrina Noack, Ramilya Sufianova (both MSc4), University
of Chicago Booth School of
Business, Chicago, USA
As a student of HHL’s M.Sc. program, I was
able to visit an entirely new world during my
term abroad. After considering the numerous
possibilities of where to go to, I decided to
head for Costa Rica.
However, as soon as you have become accustomed to this, you start to like it and it definitely helps to get rid of any excess weight.
Another fact that might startle a foreigner is
the absence of street signs that complicate
finding your final destination. Still, as soon as
you get used to following directions that are
based on buildings and street crossings you
will be able to find remarkable places all over
the country.
The INCAE Business School is one of the
most renowned universities in Latin America.
The campus is located close to San Jose but
in a setting that makes you think you are on
a lonely island. Furthermore, the central location of the campus and the country itself
offer plenty of opportunities to travel around
and find some of the most terrific sights imaginable. From beautiful beaches to volcanoes
and wild jungles – it’s all here. As a European,
you might first have to get used to the food,
which mainly consists of rice and beans.
Culturally - what was the most fascinating
thing about your host country?
The most fascinating thing about Korea was
its diversity. There is no single Korean stereotype but a broad horizon of impressions.
What I experienced ranged from the ancient
temples, old Hanok houses and traditional
dress, to a highly modern economy with very
fashion-conscious and motivated people.
Bright streets by night and numerous funny,
colorful figures first come to my mind when I
think of my time here.
For you personally, what is the most
outstanding feature of your studies at the
partner university?
As this was my first experience in Asia, I was
very curious to find out as much as possible
about this foreign culture. But I had the chance
to get to know not just Korean culture here;
due to the high number of international students at KDI School for Public Policy and Management, I also learned a great deal about
other cultures. Over 60 nationalities can be
found here, and life together in the student residences and at events like the International
Food Festival offered us the opportunity to
share customs and traditions. As well as the
international diversity, it was very interesting to
broaden my purely business-centered point
of view as the university here mainly educates
government officials and so we also had the
public sector perspective of things.
And should you get bored of all the nice
places, there are always lectures by former
Harvard professors that keep you busy and
offer new insights into diverse topics in multiple disciplines. The academic level at INCAE
is very high, reflecting the strong relationship
to Harvard Business School.
Ivelina Florev (MSc4), KDI
School of Public Policy
and Management, Korea
Alumni
20
Alumni Trust Foundation
New Alumni Officer
In September 2010, Anett Wagner took over
as Alumni Officer at HHL. In addition, Anett also
supports HHL’s Career Service department as
Manager Corporate Relations. Previously she
worked at London Business School and
Wisepress Ltd. in London. Anett holds a degree
in Business Administration from the University
of Applied Science Zwickau. You can contact
Anett via phone +49 341 9851 637 or email
[email protected].
Contact details Alumni e.V.
Friedhelm Wachs – President,
[email protected]
Dr. Burkhard Eymer – Deputy President & Secretary General, [email protected]
Dr. Marco Sperling – Treasurer,
[email protected]
Homecoming 2010
At HHL’s Excellence Dinner 2010, the HHL Alumni
Association announced the establishment of the
HHL Alumni Trust Foundation. The purpose of this
non-profit trust foundation is to support HHL. The
initial capital of nearly EUR 60,000 will be assigned
to the Kramer Foundation on the condition that it
maintains the assets of the trust and uses the
revenues for the specified purpose.Friedhelm Wachs,
President of the HHL Alumni Association, is hoping
that the trust foundation will grow over the next
years: “The strategy for HHL 2020 defines annual
support from the alumni amounting to one million
euro a year. To achieve this goal, we need to start
now and not only set structures in place but also
start the support. It is of great benefit donating to the
HHL Alumni Foundation – the donation is tax deductable and demonstrates alumni’s support for HHL.
Account name: HHL Alumni Stiftung
Bank: Sparkasse Leipzig
Bank code: 860 555 92
Purpose: Zustiftung/Endowment
Re-designed Alumni platform
October 15-17, 2010, HHL alumni celebrated their renowned Homecoming weekend.
The event was filled with interesting activities
and was attended by 50 alumni from 20 different classes. K5 and K6 alumni also celebrated the 10th anniversary of their graduation this
year. The Homecoming weekend started with
a reception at HHL’s Jahnallee Campus,
where Professor Vilks warmly welcomed the
participants and gave some interesting facts
about current developments at HHL. The day
continued with a presentation by Dr. Stephan
Stubner (K5) and the General Meeting of
HHL Alumni e.V., which concluded with elections to the board. The new board consists
of Friedhelm Wachs (P2) – President; Dr.
Burkhart Eymer (K3) – Deputy President &
Secretary General; and Dr. Marco Sperling
(Doctoral Program) – Treasurer. The day continued with the Meet the Founders presentation in which Tim Koschella (K21) and Stefan
Merker (K22) talked about their experiences
as entrepreneurs. The highlight of the weekend was the annual Alumni Dinner on Saturday night, which gave everybody plenty of
opportunity to catch up with old friends. A
huge thank-you goes to HHL Alumni Association and HHL for hosting and sponsoring
the event. We would also like to thank the
presenters for their time and inspirational presentations.
On Saturday, September 11, 2010, 47 graduates from HHL returned to their Alma Mater to celebrate the 25th
anniversary of their graduation. From September 1981 to August 1985, they were enrolled in three tutorial
groups in the “Hotel and Restaurant” department at the Handelshochschule.
Please check out the updated alumni platform at:
www.hhl-alumni.de. Besides a great new design,
the updated platform offers a range of new
features including photo albums, a new extensive
public area, online registration for membership in
HHL Alumni e.V. and much more ...
Summer party
On July 25, 2010, the Frankfurt Chapter held a
summer party at Weingut Baron zu Knyphausen
which was attended by 25 alumni from Frankfurt, Leipzig, Stuttgart and London. Apart from
regular guests, many new faces took part
in the fun-filled afternoon. Professor Dr. Arnis
Vilks, Dean of HHL, also joined the celebration
and updated the alumni with the latest information about current developments at HHL.
One of the highlights of the day was a tour
though the winery and the production facilities.
Professor Hans Göschel welcomed members of the
tutorial group 8712 of the former Handelshochschule Leipzig back to HHL. On November 13, 2010, the
graduates, who during their studies specialized in
the hotel and restaurant trade, met for the second
time since their graduation in Leipzig 20 years ago.
21
“Starting a business
is closer than you think”
“If you’ve never run a start-up into the ground you won’t get any
venture capital,” says Anna Ott, Head of Recruiting at i-potentials,
quoting a saying from Silicon Valley. On January 14, 2011, 16 HHL
students came to Berlin for a tour to four start-ups. I-potentials
was the first tour stop and it was a good point to start with: The
recruiting agency specialized in internet companies and start-ups
and is hence an essential hub in the internet world of Berlin. “Our
key to success is our know-how of the branch and our network.
We get to know if start-up x is looking for a product manager,
we know what a good product manager is like and know who is
currently looking for a job,” says Anna. “This focus on one branch
sets us apart from other headhunters. And unlike them, we staff
positions on all levels: interns, young professionals, managers up
to executive positions and co-founders.” Especially the internships are interesting to the students, since they offer the perfect
possibility to have a first look at how a start-up company works.
“It’s your chance to check out flaws before you start a business
yourself,” says Anna.
Kolja Hebenstreit, co-founder and partner of Team Europe
Ventures Management, then elaborated on the financial side of
starting a business. “From a macroeconomic point of view, we
do innovation management,” says Kolja, “and we do that in three
different ways: investments, company building and strategic
investments.” Kolja Hebenstreit is one of four founders of Team Europe, who obviously have the right touch for internet companies.
How do they identify good business ideas? Kolja is concise on
that: “You should have thought about how the following things will
work out: business model, financing, market entrance strategy
and team.” “It’s fascinating to see a 26-year-old explaining what
makes the world go round,” says HHL student Alexander Kolano
(MSc5) about Kolja before they continue the tour.
The next stops were SponsorPay and MySportBrands, the first
being an already quite big company compared to the rather
small shopping community for sports articles. What connects
them is a pleasant informality, as Alexander relates – no ties, no
suits, no briefcases. “All of the people we met today were about
our age and I got the impression that the whole start-up world in
Berlin is a huge circle of friends. A key to success is communication and the network,” Alexander adds.
In the end, the students were quite satisfied with their “tour de
start-up”, having seen quite a big variety: i-potentials representing the HR and network side, Team Europe as venture capitalist,
and two internet companies in different stages of business development. "Students are regularly excited after such meetings with
entrepreneurs and facilitators. I believe such a direct interaction
is one of the best motivators for students to try starting up their
first business," comments Dr. Stephan Stubner, Academic Director
of the Program for International Entrepreneurship at HHL.
“It was very motivating to see the real world after all the theory,”
says Benjamin Hammer (MSc5). “Starting a business always
seemed completely out of reach. But obviously, it is closer
than you think – it doesn’t have much to do with a lucky
strike of genius, but with hard work and persistency.”
Network. Expertise. Speed.
I-potentials is a young HR agency in the heart of the Berlin start-up world. We do recruiting and coaching for internet companies only and are therefore experts in that branch. We focus on the candidates.
We have a solid network all over Germany and see ourselves as an essential hub for candidates in the
internet industry. We provide our clients access to that network and offer high potencials on all levels
and for all functions, starting with interns and ending with co-founders. Currently, we have about 50
clients and 154 open posts, and we are constantly extending our network.
Want to start a career in the start-up world? Then apply under: www.i-potentials.de
22
Interview
“PR skills are a long-term investment
for MBA students”
Journalist Hannes Külz explains why he
teaches public relations skills to HHL’s
MBA students. Külz contributes to Financial
Times Deutschland and Welt am Sonntag.
He is copy chief of Berlin-based media
agency KircherBurkhardt.
HHL news: Why is public relations
an issue for future managers?
No company can survive without acknowledging its environment. The public demands
Research & Prog rams
transparency in all regards: ecological and
ethical behavior, fair treatment of employees, honesty of the management and much
more. In brief: everything the concept of
”corporate citizenship” comprises. Last but
not least, a good corporate reputation
increases loyalty and motivation among the
workforce and goodwill among the clients
and shareholders. That should be enough
for managers to care about.
communication simulation: groups of
students represent the board of a company
that gets in trouble. They have to deal with
extreme pressures of time, uncertainties,
lack of control – and master a press
conference under these conditions that
is videotaped. Their performance will be
analyzed and their crisis communication
discussed. This helps a lot more than
memorizing handbooks and checklists.
HHL news: How do you teach public
relations?
PR skills are no ready-to-use kit but rather a
long-term investment for MBA students. In a
theoretical part we take a look at different
communication concepts and see how the
approach of public relations has changed
over time. We discuss how a PR program
can be planned, implemented and evaluated.
Of course, internet PR plays an increasing role
as well as internal communications – as the
employees are an important public that needs
to be addressed. Besides this, to improve the
students’ communication skills, the course
includes a writing workshop and crisis
HHL news: Are your courses structured
differently in the part-time and the
full-time MBA class?
The different schedules require certain
adjustments, for example in the way
practical PR is integrated into the course.
In the part-time class several students
present and discuss the strategies of their
respective companies whereas in the fulltime program groups of students visit the
PR executives of major Leipzig companies
and examine their findings with the class.
Boston: Tea Party, lobster and Ivy League –
the P5 Global Immersion Seminar 2010
How can we provide a quick look at such a fun
and knowledge-filled week? How can we describe the sun shining on the water in the harbour, the taste of Boston’s culinary offerings
and the rides out to the outlying commercial
parks in a yellow school bus? How can we cover all our activities, meetings, presentations and
guest lectures at international companies
and Ivy League universities in and around Boston in just a few words? Impossible!
Locals Dean Goodermote and Rusty Tunnard, our HHL professors for Entrepreneurship and Problem Solving & Communication,
headed up our group as we toured through
Boston’s academic and commercial worlds.
Harvard Business School, MIT, Suffolk Law
School and Tufts Fletcher School opened
their doors to us, offering lectures on topics
ranging from Porter’s cluster theory at
Harvard Business School, binomial lattices
in a nutshell at MIT, the impact of the
Sarbanes-Oxley Act at Suffolk and Fletcher’s
insights into how to use social networks to
coordinate disaster relief aid (Haiti), to Partha
Ghosh’s fascinating talk on the importance
of innovation in meeting the enormous ecol-
ogical, economic and ethical
challenges we are facing in a
globalized world with rapidly
changing demographics. It
was all followed by a tour of
the campus, giving us a
quick peek into life at an
American university.
While half of each day was
spent in the academic
world, the other half was
dedicated to Boston’s business side – we visited companies and institutes working in a range of
industries: Thermo Fisher Scientific, Fresenius
Medical Care, the Broad Institute, the Boston
Redevelopment Authority, and Simon Kucher
and Partner offered us insights into innovating
logistics in the medical supply industry, lean
and six sigma processes in the production of
high-tech scientific instruments, strategy consulting specializing in pricing, a human genetics lab run with six sigma precision, and
steering Boston’s development as a city,
keeping it attractive to businesses, residents
and students.
Our evenings allowed us to renew our
strength for the next day, thanks to Boston’s
many culinary delights: We cured our jet-lag
with lobster, oysters and fresh fish, networked over a family-style Italian dinner a few
days later, and closed the week with a wonderful dinner of typical Boston steak and
seafood near the wharf.
All in all, it was a rich week – and the best
way to finish our Part-Time MBA with our P5
group – thanks to all who made it possible!
Plenty of options with an MBA from HHL
During HHL’s full-time MBA program the flexible course design caters to the individual
needs and interests of each student. Espe-
Study Abroad
23
MBA alumni on top again
cially in their fifth term HHL students have the
choice of several options.
Internship/Job
Name: Shabal Goel
Nationality: Indian
Current university
abroad: University of
Chicago Booth School
of Business
Name: Paul Martinez
Nationality: Colombian
Current Job Position:
Junior Strategic
Marketing Manager
Firm: REHAU AG + Co
“I chose HHL not only
for its strong and
growing reputation,
but for the excellent relationships it maintains
with both employers and universities abroad. It
is through these relationships that I was able to
further enrich my education at the University of
Chicago. HHL’s study abroad program allowed
me to work with some of the best minds in the
field of finance.”
“The HR Department
from REHAU read my
profile in HHL’s yearbook and invited me for an interview. I used the
knowledge I received from my MBA classes to
make a presentation on a proposed marketing
strategy for the company. Two weeks after that
presentation I received the call telling me that I
got the job.”
Master Thesis
Individual Consulting Project
Name: Ben Neumann
Nationality: German
Master thesis:
Management
Competences – a
comprehensive study
on soft skill education
for managers
“I appreciate the total
freedom I enjoy by working on a topic that I really
love. The support of my Professor is great and I
learned everything I need to tackle this last project.
The MBA program provides me with the necessary
knowledge, skills and techniques to analyze a given
topic from different angles. This makes the process
more creative and the outcome more complete.”
Name: Lydia Nakayenze
Nationality: Ugandan
Individual Consulting
Project: Women@HHL
“I very much like the
support and freedom I
received from the HHL
career service and the
Chancellor’s office to
explore one of the new exciting fields of consulting namely gender consulting. And with
Women@HHL, I believe we are on a good path
to achieving and sustaining a 30% ratio of
female students for the future.”
Truly international: part-time MBA class P7 kicks off
On January 21, 2011, HHL’s part-time MBA
Program started for its seventh round. The
two-year program, which is taught entirely in
English, is designed for executives and junior
managers who are looking to enhance and
advance their existing career. On average the
students, who represent eight nations, have
more than six years of work experience, and
many come from large corporations like Audi,
Commerzbank, Deutsche Bahn, Deutsche Bank
and VW, but also from local companies like
HLkomm, Blue Corporate Finance or Neue Musik
Leipzig. Patricia Quinet (31) from Belgium is
representative of the class. The chemical
engineer who works at Solvay S.A. says: “My
objective is to acquire business and management skills in order to be more efficient in my
work and to improve the quality of the discussions I have with the plant managers. In future,
I hope that this will help me move up to a
position where business and management skills
are needed as well as technical experience.”
Every year adventurous alumni from HHL’s
MBA programs gather to explore the Alps for a
weekend. This year, 14 participants arrived
in Munich from all over Europe including two
female adventurers for the first time. Both dealt
with the challenges with ease. Congratulations! After meeting at Munich’s famous Nockherberg on Saturday morning, the group
transferred to Scharnitz on the GermanAustrian border, where the hike started.
Guided by Rolf Illenberger (M6), the Pleisenhütte refuge was reached after 2½ hours of
walking, just before the first snow set in. Sigi,
the innkeeper, welcomed the group by playing
Tyrolean music on his accordion.
A delicious 3-course dinner was accompanied
by all sorts of drinks which continued to be enjoyed during the night – some of the drinks may
in fact not be available anywhere else. However, no major blackout was reported by the
group. As always, the evening was far too short
for the inspiring discussions, and the night was
not long enough, either. There was still the descent to be tackled the next day... The picture
shows the group in front of Pleisenhütte on
Sunday morning before returning to Munich.
The group is already looking forward to next
year’s event. If you are interested in joining,
please contact Rolf Illenberger via email or via
the Group “HHL MBA FEW” on Xing.
24
It’s not the solution, it’s the problem
that’s hard to come up with!
and, on the other, working with
your peers. Of course, teamwork is nowadays a component in most curricula; however, our lecturers pushed us
to our limits.
One of the first challenges when starting the
Master of Science Program at the HHL is to
survive “PAC”, a course that is a highlight in
every student’s curriculum. “PAC” stands for
Problem Solving and Communication, and is
not just about identifying a problem, finding a
solution and finally communicating this to
stakeholders.
The first assignment consisted
of a case study dealing with the
BP Deep Water Horizon catastrophe. We were supposed to
identify the problem faced by BP
and develop an appropriate solution. The crucial point was not
the actual solution of the case
but rather the deadline – the next morning at
9 am! Since we had just started studying at
HHL, we hadn’t yet undertaken any group
work. So, although we all knew each other, we
hadn’t actually worked together. And so we
spent our first night in HHL’s halls in a kind of
“speed dating” as we got to know each other
under very different conditions.
We soon found out that the real difficulty in
this course was, on the one hand, identifying
what exactly the problem was and what it implied for the development of the solution,
The second assignment was not far behind.
The business in focus this time was the RB
Leipzig soccer club. The new students had to
deal with four different problems that the RB
Leipzig management board presented to us. In
my team, we were to develop a merchandizing
concept for the club. It was a struggle to identify
the real problem for which we had to find a solution. In contrast to the BP case, we had to
come up with a holistic solution which incorporated a fan shop, an appropriate location, new
products and other aspects. After three weeks
of intense work within the groups, hours of
heated discussion and smoldering brains, we
proudly presented our results to the RB Leipzig
management board and our lecturers. For me,
this was the most challenging and exhausting
course since it was so highly dependent on interaction, where the students themselves contributed a huge amount to the learning process.
In addition, thinking analytically, working efficiently and collaborating were also key success
factors in the course.
My two personal takeaways were that, while
the solution to a problem is important, identifying the problem correctly first is even more
crucial for everything that follows. Secondly,
the right form of communication is absolutely
critical to success.
Franziska Richter (MSc5)
What does studying at HHL mean?
In my last year of a Bachelor program at a university of applied science, I started looking for
a Master program that met my personal criteria. Finally, three programs attracted my attention. But then it was a question of how to ascertain what might be the best one? Finally, I
asked Franziska Luckner (MSc2) to meet me
for a coffee, spoke with Verena Köppen (K18)
during an internship at HENKEL, came to
HHL’s open day in autumn 2009, and
checked the CHE university ranking. In the
end, the decision was clear: it had to be HHL.
Nearly two years have now passed since I
came to study at HHL. Time goes so fast at
HHL, it’s amazing. The first and the second
terms consist of the core courses which take
up all your time – regardless of what day of the
week it is. The really interesting part of the program started with the 3rd term where you can
choose your subjects according to your personal interests. I selected Strategy, Marketing,
Logistics and Supply Chain Management,
and Advanced General Management with a
mix of Accounting and Entrepreneurship. Every subject has its own highlights, for instance
the guest professor in Strategy Professor Dr.
Burkhard Schwenker, the former CEO of
Roland Berger Strategy Consultants, or real
cases in Entrepreneurship evaluating startups. Every professor ensures maximum value
in the courses by dedicating a high degree of
personal effort to each one. In addition, the
staff at the chairs, the student office and the
library try to consider the student’s every
need. The Master program at HHL really is a
360-degree package. The difference to other
universities is that HHL is really open minded
and expects the same of its students as well.
As I write these lines, I am studying in Castellanza in Milan, spending a term at one of HHL’s
over 100 partner universities. I am glad to have
this opportunity
not only to study
in another country
and language but
also to experience
intercultural exchange with students from different countries and
backgrounds.
Looking forward,
after completing
my last terms of
lectures, I will opt
for an internship
in the field of Accounting in spring. Then I will
write my Master thesis and I aim to complete
my Master of Science by autumn 2011.
Susanne Weidenkaff (MSc4)
Financial support for tuition fees
Interview
Employees of small and medium-sized enterprises in Saxony are eligible for European Social
Fund (ESF) funding for further education at HHL.
The funding is available for HHL’s Part-time and
Full-time MBA and M.Sc. Programs as well as
for the General Management Programs offered
by HHL Executive. The financial support can
cover up to 80% of the tuition fees. The completed application must be submitted by the
company of the interested candidate prior to
the start of the course.
Another financing option for applicants from
Saxony is the so-called “Weiterbildungscheck
Sachsen”, which is open to employees living
in Saxony. Applications for this grant must be
made on an individual basis. Several students in
the current part-time MBA and M.Sc. classes
have already had their application for this
financial support approved.
>> Further information:
Petra Spanka
E-Mail: [email protected]
or at www.esf.in-sachsen.de
New staff
25
cognitive and motivational conditions within
the work environment can help realize this
potential. In the end, I was able to conduct
two very large studies with more than 5,000
participants with the help of TNS Infratest.
HHL News: Did you collaborate with other
researchers?
The whole dissertation project could not have
been realized without the help of various
institutions. Apart from HHL’s Chair of
Marketing Management where I was working
as a Research Associate, the impulse with
regard to the main research question came
from the Industrial Initiative For Central
Germany (Wirtschaftsinitiative Mitteldeutschland), and TNS Infratest helped a lot with the
empirical discussions.
Established in 1996, HHL’s doctoral program
has produced 117 graduates to date and,
with 101 candidates currently enrolled, it is
growing fast. In an interview, Dr. Evelyn
Kästner tells HHL news about her dissertation
project, the research journey and the great
opportunities that HHL offered her.
HHL News: What is your dissertation
about?
My thesis deals with the drivers of employee’s
creative behavior within the brand management process. I was especially interested in
the personality traits that employees with a
high creative potential have, and how
HHL News: What opportunities did HHL
offer you?
The research partners and the interaction with
doctoral students from all of HHL’s chairs were
really beneficial with regard to the development of my personal network and my
capabilities. In particular, I gained invaluable
experience when I was responsible for the
Live Communication research center at the
Chair of Marketing, and various consulting
projects gave me the opportunity to hone my
analytical and communication skills. I can
really apply these skills now that I’m Marketing
Manager at HHL Executive.
Doctoral degrees awarded by HHL
July 2010
Julia Pahl-Schönbein
Konzerninterne Dienstleister – Wettbewerbsfähigkeit zwischen Markt und Hierarchie
Iris Petzschmann joined HHL in August 2010.
Standing in for Franka Storzer during the
latter’s maternity leave, she supports the
Student Affairs / Examination Office and is
particularly responsible for HHL’s doctoral
and part-time programs. She graduated
from Freie Universität Berlin with a Master’s
degree in Religion Studies, History and
German Literature. During her studies she
spent a year abroad at the Università degli
Studi di Milano, Italy. After graduation,
Ms. Petzschmann gained work experience
during a traineeship at the Herbert Quandt
Foundation.
July 2010
Heike von der Bruck
“50 plus und arbeitslos” – Strategien zur
Überwindung von Informationsasymmetrien
auf der Basis der Veränderung differenzieller
Merkmale über die Lebensspanne
August 2010
Oliver Hoßfeld
Applications of Advanced Methods of Cointegration Analysis to Money Demand and
Equilibrium Exchange Rates
August 2010
Stephan Burghardt
Ermittlung und Würdigung bilanzpolitischer Gestaltungsspielräume bei der Bewertung von Produktmarken im Rahmen der Kaufpreisallokation
October 2010
Gunther Greven
Die Hochschulwahl aus verhaltenswissenschaftlicher Perspektive – eine Analyse unter
besonderer Berücksichtigung affektiver und
kognitiver Einstellungsdimensionen
November 2010
Kai Thürbach
Der Einfluss der Unternehmensmarke auf die
Geschäftsbeziehungen von Medienunternehmen – eine empirische Untersuchung am
Beispiel von Film- und Fernsehproduktionsunternehmen
26
Center for Corporate Governance
Center for Corporate Governance
opens with full academic program
From left to right: Dr. Marc Steffen Rapp (Academic Director), Christian Kohl (Research Associate),
Christian Strenger (Academic Director), Professor Dr. Michael Wolff (Academic Director)
The Center for Corporate Governance
(CCG) officially opened its doors on November 1, 2010. By way of introduction, the
Center finds its roots in the close ties between Professor Dr. Bernhard Schwetzler
and Christian Strenger, the former CEO of
DWS, member of the German Government
Commission on Corporate Governance and
an internationally respected governance
expert. They jointly developed the idea of
establishing a Center for Corporate Governance at HHL as a contribution to HHL’s
growth strategy and mission statement –
the education of effective and responsible
business leaders.
Key financial supporters of the Center are
DWS Investment GmbH, Bertelsmann Business Consulting GmbH and KPMG Deutsche Treuhand-Gesellschaft AG. Organizationally, the Center is set up as follows: the
Academic Board has three directors: Christian Strenger, Dr. Marc Steffen Rapp (currently a post-doctoral researcher at the Center for Entrepreneurial and Financial Studies
at Technische Universität München) and Professor Dr. Michael Wolff (Corporate Governance Chair at the Johannes GutenbergUniversität Mainz).
The Governing Board (Directorium) has four
members: Professor Dr. Arnis Vilks as Dean
of HHL, Professor Dr. Bernhard Schwetzler,
Christian Strenger and Professor Dr. Henning
Zülch. The Center will provide an academic
forum and engage in business-related dis-
cussions about key corporate governance
issues. The research will focus on issues
such as performance relevance, rating and
scoring systems, diversity, and governance
for developing countries.
The teaching activities will comprise courses
in HHL’s MBA, M.Sc. and Doctoral Programs.
The exact dates of the courses will be posted
on the HHL network. Furthermore, HHL will
benefit from international cooperation with
academic institutions such as the Millstein
Center for Corporate Governance & Performance at Yale School of Management.
The CCG will publish two research papers as
part of the new HHL Research Papers in
Corporate Governance series (available via
the Center’s homepage or SSRN):
·Strenger/Rapp/Wolff/Jahn:
“Der Deutsche Corporate Governance Ko dex: Compliance Erfahrungen der Jahre
2002-2009” evaluates the compliance level
of German prime standard companies and
their valuation by the capital market;
·Rapp/Sperling/Wolff:
“Wer fragt die Aktionäre? – Abstimmung
über das Vorstandsvergütungssytem: Er fahrungen aus der HV-Saision 2010” inves tigates the circumstances under which
“say-on-pay” voting exists and what deter mines the outcome of the votes.
This year, HHL will host the 12th Workshop
on Corporate Governance and Investment.
New staff
Christian Kohl joined the HHL Center for
Corporate Governance as a Research
Associate in November 2010. He graduated
from Technische Universität München as a
Diplom-Kaufmann (Dipl.-Kfm.) in Technology- and Management-oriented Business
Economics. He majored in entrepreneurial
finance, international capital markets and
electrical engineering. During his studies,
Mr. Kohl gained professional experience in
the venture capital industry. His research
will focus on diversity and performance
issues in corporate governance.
The center’s team:
Christian Strenger, Academic Director
Dr. Marc Steffen Rapp, Academic Director
Professor Dr. Michael Wolff,
Academic Director
Christian Kohl, Research Associate
Key partners
Contact:
>> www.hhl.de
27
Center for Leading Innovation & Cooperation (CLIC)
New doctoral student @ CLIC
Visualizing the invisible –
2nd Research Workshop of the Peter
Pribilla Foundation hosted at HHL
On October 19 and 20, 2010, the Center for
Leading Innovation & Cooperation (CLIC)
hosted the second Peter Pribilla workshop
for early career researchers at HHL’s City
Campus.
Entitled Leadership for Innovation: Visualizing
the Invisible, the workshop aimed to connect, integrate, foster and visualize national
and international research findings in the field
of leadership and innovation. The main focus
was on exposing the invisible, intangible and
often hidden elements that characterize leading innovations and the successful management of them, particularly in services,
processes and systems.
A diverse group of highly promising researchers with proven track records in the field and
with disciplinary backgrounds in architecture,
design, computer science, engineering, man-
agement and economics were invited from
Germany, France, Great Britain, Russia,
Austria and the United States. After an intense “speed dating” session on their research interests, the researchers had about
30 hours to outline joint projects on visualizing the invisible.
At the end, five exciting and very promising
project proposals in the field of Leading Open
Innovation with a focus on Open Architecture, Open Government, Open Intellectual
Property, Collective Innovation and Virtualization won the approval of the jury.
The Peter Pribilla Foundation – a foundation
of the Technische Universität München (TUM)
– will sponsor the projects with an overall
budget of EUR 120,000.
Claudia Lehmann
Simon Straßburger joined CLIC in July 2010 as
an external doctoral candidate. He attained his
diploma from HHL, majoring in Operations
Management and Accounting. In the course of
his studies, he gained international experience
in India and the USA, as well as practical experience in the consulting and retail industries.
After completing his degree, Simon Straßburger
worked as a consultant for Otto, Henning & Co. in
Frankfurt and is now working towards his doctoral
degree in the course of an educational leave of
absence. His research interest at CLIC is in the field
of service innovation, with a special emphasis on
mass customization and virtual communities.
ServProd @ Grand Challenge in
Service (University of Cambridge)
September 2010, a week of events in Cambridge
in the UK brought together leading academics,
industrialists and policy makers to address the
evolving challenges facing service education,
research, practice and policy. Dr. Marcus Kölling
represented CLIC in Cambridge. He took the
opportunity to introduce the first empirical findings
in CLIC’s new project “ServProd – Exploring
Service Productivity”, which focuses on interdisciplinary productivity logic in services and aims to
generate systematic knowledge in the field.
Altogether, the Grand Challenge Week explored
issues underpinning knowledge production and
transfer in the service industry, and contributed to
evolving dialog by offering a unique opportunity for
practitioners and researchers to explore the latest
thinking in service provision.
Participants in the 2nd Research Workshop held by the Peter Pribilla Foundation
Claudia Lehmann
Get to know HHL at the
Information Day on April 29, 2011
Information & registration:
www.hhl.de/infoday
28
Workshop “Service Innovation & Open
Collective Work” @ Informatik 2010
New CLIC
executive briefing
As part of the program at the Informatik 2010
conference in Leipzig (September 27 - October 1, 2010), CLIC was proud to arrange and
run a full-day workshop on “Service Innovation & Open Collective Work”. The workshop
was chaired by Professor Dr. Kathrin M.
Möslein and Dr. Angelika Bullinger.
As a direct result of the research workshop
“ServProf – Learning and Living Service Professionalism”, CLIC has published a new
brochure entitled “Professionalism in the Service Business” in the CLIC Executive Briefings series.
In a double-blind review process, nine papers were selected from a rich range of submissions for presentation at the conference.
Dr. Andrei Villarroel, Catholic University of
Portugal School of Economics and Management (FCEE-Católica) and MIT Sloan School
of Management, presented “A stock market
for innovation (SMI)”. Dr. Johann Füller, University of Innsbruck and CEO of Hyve AG,
impressed the audience with insights on
“Evaluation Games – How to Make the
Crowd your Jury”. Other presentations focused on themes such as Open Innovation
Marketing, Interaction in Open Collective
Work and Incentives in Innovation Contests.
The highlight of the workshop was the interactive session, where all participants had the
opportunity to work as interactive innovators
on the development of new service concepts.
>> www.gi2010.clicresearch.de
>> www.facebook.com/CLICresearch
Claudia Lehmann
Impressions from the interactive sessions of the workshop
Discovering Spreadshirt’s
new online configurator
Leipzig-based Spreadshirt (sprd.net AG) is
Europe’s largest producer of individual apparel. As one of the first implementers of mass
customization in Germany, the company has
grown steadily from its modest beginnings in
2004 to currently around 500 employees and
three production sites in Germany, Poland
and the U.S. The heart of the company is a
complex online configurator enabling users
to design and order the products they want.
Stefan Thallmaier
Simon Straßburger
On August 10, 2010, Spreadshirt gave CLIC
researchers Stefan Thallmaier and Simon
Straßburger the opportunity to take a first look
at the beta version of its new configurator
Confomat. Spreadshirt’s developer Frank Alic
and product manager Robert Schulz stressed
the innovativeness of the new online user interaction system: “Usability has significantly
increased, as we analyzed more than 350
suggestions from community feedback over
the last few years.” As a result of an improved
visibility, the shirt is now centered on the
screen with the required toolkits arranged
around it. From a research perspective, it will
be interesting to see how users are able to
deal with the new design varieties. The new
customization options also have a positive effect on the average production time per shirt.
The new configurator is currently in open beta
status, going live within the next few weeks.
>> www.spreadshirt.de/-C6221
Stefan Thallmaier
The brochure’s aim is to highlight the complex interrelationships in this research area as
well as to enable a transfer of ideas and concepts back into practice. The question of
how professionalism in service occupations
with formal training requirements can be enhanced is of particular interest, since occupational training is barely established in the
sector. Services which do not enjoy expert
status suffer especially in many cases thanks
to a substantial lack of prestige and difficulty
in obtaining due recognition. In contrast, industrial production is characterized by a distinctly professional culture and high prestige. This is closely connected with the
notion of “producer pride” – well established
in manufacturing industries but in short supply in the service context. Producer pride is a
way of identifying with daily tasks, with the
company, and with their contributions to customer satisfaction in particular and the welfare of society at large. Furthermore, it is an
important component in innovative and future-oriented organizational cultures.
>> www.servprof.de
Claudia Lehmann
Professionalisierung im
Dienstleistungsbereich
AOC
29
Center for Scenario Planning
Center publishes working papers
on approach to scenario-based
strategic planning
In the last issue of HHL news, we introduced
a new six-step approach to scenario-based
strategic planning. We plan to describe the
tools for each of the approach’s process
steps in more detail in a series of working papers. Two, entitled “360° Stakeholder Feedback” and the “Scenario Matrix”, have already been published.
The “360° Stakeholder Feedback” tool is
used in the second step of our scenario process’, perception analysis. The tool focuses
on identifying and challenging existing mental
models as well as perceptions of all participants involved in the strategic planning process. The working paper explains in detail
how blind spots and weak signals can be recognized, and how the two-step survey process needs to be conducted to obtain signif-
icant results quickly. Identifying a comprehensive list of influencing factors that
specify and shape future developments in an
industry is the overall goal of the “360°
Stakeholder Feedback” tool.
The “Scenario Matrix” tool is applied in the
fourth step of our process, namely scenario
building. The tool focuses on developing and
generating four distinct future scenarios
based on two critical factors. The working
paper explains in detail how the “scenario influence diagram” and “scenario fact sheet”
support practitioners in identifying and describing four separate scenarios on how an
industry can develop in the future. We highlight the tool’s simple applicability through a
practical example focussing on the European
airline industry.
Center for Scenario Planning and Sachsen Bank
create scenarios for Mittelstand
HHL’s Center for Scenario Planning and Sachsen
Bank have started their collaboration on topics concentrating on small and medium-sized enterprises
(Mittelstand in German). The partnership centers
around the creation of scenario studies for key
industries in central Germany. “These scenarios aim
to provide companies in the chosen industries with
a clear road map for their strategic decisions,”
Sachsen Bank CEO Harald Pfab said. The scenario
studies are based on a detailed analysis of the
respective sector and present scenarios for the
development of the industry in the next five years.
They thus allow managers to derive concrete
strategic action plans to be prepared for multiple
possible future developments. The collaboration
includes the publication of two scenarios per year.
The first study, which will be completed in January,
focuses on the microelectronics industry in central
Germany and the challenges and opportunities it
faces in the future.
Center Publishes Second Industry
Scenario – The Future of the
European Airline Industry
The HHL Center for Scenario Planning has
published a second scenario study, this time
focussing on the future of the European airline
industry. The industry is an example of a
business that is currently faced with a large
number of uncertainties, making future developments hard to predict. On the one hand,
companies are struggling with new competition
from low-cost carriers and growing pressure
from Asia and the Middle East. On the other
hand, globalization and the rising demand
for air travel are creating new opportunities for
growth. The scenario study presents four industry
scenarios for the year 2015 based on thorough
industry analysis and expert inquiry. We hope
that these scenarios inspire and contribute to
managing the risks and opportunities that this
dynamic industry is currently facing.
Center for Corporate Transactions
Research projects with corporate partners
In 2010, HHL’s Center for Corporate Transactions (CCT) conducted four major research
projects with corporate partners in the field of
finance: “Fairness Opinion Monitor” with
Duff & Phelps (D&P); “Conglomerate Mergers
and Acquisitions” with Henkel KGaA;
“De-Averaging the Conglomerate Discount”
and “Serial Acquisitions and Value Creation”
with the Boston Consulting Group. All of the
projects connect high-profile M&A research
with corporate world problems. Together with
D&P, CCT is tracking the quality of fairness
opinions published in Germany. In investigating conglomerate M&A, special characteristics of corporate transactions are identified
and corporate policy implications are derived.
In the second conglomerate project, we are
looking at an optimal degree of diversification
and the impact of the financial crisis on the
market value of conglomerates. The fourth
project is on serial acquisitions and is examining if a firm can learn to acquire.
Dr. Marco O. Sperling
30
Chair of Accounting and Auditing
Doctoral seminar for Chairs
of Accounting Region East
The Chair of Accounting and Auditing hosted
the 2nd Doctoral Seminar for Chairs of
Accounting Region East at HHL in cooperation with the Ernst & Young Foundation. The
event dealt with the latest developments in
national and international financial reporting
as well as special topics of corporate governance and auditing, and saw selected professors and research associates from leading
universities of Eastern Germany gathering at
HHL’s City Campus on October 14 and 15,
2010. The seminar offered the participants
a unique opportunity to present their own
accounting research and to learn what colleagues at other universities are doing. The 33
academics enjoyed two interesting and challenging days at the HHL City Campus and in
the city of Leipzig. The Chair of Accounting
and Auditing is looking forward to hosting the
3rd Doctoral Seminar in 2011 again at HHL.
Patrick Krauß
Accounting Historians
in New Zealand
August 18-20, 2010, the academic accounting
community dealing with historical topics met in
Wellington, New Zealand, for the 6th Accounting
History International Conference on. The
conference takes place every three years and
is one of the rare opportunities to discuss
accounting matters in an historical context with
the few real experts in this field. HHL was also
part of this occasion and was represented by
Sebastian Hoffmann. He presented his paper
entitled “A Historical View of the Political Fair
Value Debate in Germany.” It identifies a rather
negative attitude among German academics
towards fair value accounting, and explains this
by analyzing German accounting history. The
topic was of great interest to the participants
due to the current global discussion concerning
fair value accounting. Moreover, most delegates
were highly interested in German specifics
on contemporary accounting matters.
Sebastian Hoffmann
New book: IFRS 7
IFRS 7 is the International Financial Reporting
Standard regulating disclosures for financial
instruments. Since IFRS 7 came into effect only
in 2007, not much experience has yet been
gathered in its practical application. In consequence, many companies still make mistakes
when applying IFRS 7. This new book by Zülch/
Hoffmann/Wünsch provides not only the
regulation of IFRS 7 but also a concise
commentary. In addition, an empirical study
was done analyzing the state of the art in
IFRS 7 reporting and deriving a best practice for
disclosure of financial instruments under IFRS.
Save the date!
On April 14, 2011, the GKR will hold a seminar on political issues in accounting and is proud to
be welcoming a very distinguished speaker for the occasion: Professor Stephen A. Zeff, PhD,
from Rice University in Houston, Texas will give a speech entitled “The Evolution of the IASC into
the IASB, and the Challenges it Faces”. Professor Zeff , former president of the American Accounting Association, is an expert in the field of accounting and author of numerous articles in highly
ranked journals. To round off the seminar, Sebastian Hoffmann from the Chair of Accounting
and Auditing at HHL will present his research on “The Politics of the IASB Standard Setting.”
31
The treatment of provisions after
the modernization of German GAAP
On November 24, 2010, the Gesellschaft
für kapitalmarktorientierte Rechnungslegung
e.V. (GKR) and KPMG AG WPG held a seminar on the treatment of provisions after the
modernization of German GAAP. In the first
lecture, Dr. Christian Fink of Freudenberg &
Co. KG gave the forty seminar participants
an overview on what changes the Accounting Law Modernization Act (BilMoG) has
brought about and pointed out important issues to consider when first applying the new
rules. Next, Dr. Holger Seidler, a lawyer/tax
advisor/CPA at KPMG AG WPG, talked
about problems that auditors may face when
auditing companies which are applying the
new rules for the first time.
Dr. Seidler, who had a leading role in drafting
BilMoG, focused on pensions accounting
and shed light on a number of issues auditors need to be aware of. In his concluding
remarks, Professor Dr. Henning Zülch noted
that companies are waiting for implementation guidance on BilMoG because, “There is
still a high level of discretion and uncertainty
in treating provisions under the new rules.”
From left to right: Dr. Holger Seidler, KPMG AG WPG
Berlin, Professor. Dr. Henning Zülch, HHL and GKR,
and Dr. Georg Flascha, KPMG AG WPG Leipzig.
Publications
Zülch, Henning / Hoffmann, Sebastian
Enforcement im Lichte der Rechtsprechung
in: Zeitschrift für Corporate Governance: ZCG,
5 (2010) 3, Editorial, 109
Hoffmann, Sebastian
Rechnungslegungs-Enforcement in Deutschland – Bericht zur Tagung der Gesellschaft für
kapitalmarktorientierte Rechnungslegung e.V.
in: Zeitschrift für Corporate Governance: ZCG,
5 (2010) 3, 151-153
Zülch, Henning / Hoffmann, Sebastian /
Salewski, Marcus
Das Bilanzrechtsmodernisierungsgesetz
(BilMoG) – Auswirkungen auf die betriebliche
Altersversorgung aus Sicht der Wissenschaft
in: Betriebliche Altersversorgung: BetrAV,
65 (2010) 4, 328-334
Lobbying on Accounting Standard Setting in
a Parliamentary Environment – A Qualitative
Approach
HHL Working Paper No. 94
Zülch, Henning / Pronobis, Paul
The Predictive Power of Comprehensive
Income and Its Individual Components
under IFRS
Lektion 1: Einführung in das BilMoG
Lektion 5: Rückstellungen
Lektion 9: Anhang und Lagebericht
Düsseldorf: EUROFORUM Verlag, 3. Aufl., 2010
(Schriftlicher Management-Lehrgang
‘BilMoG im Fokus’)
Zülch, Henning / Salewski, Marcus
Das Joint Financial Statement Presentation
Project von IASB und FASB
in: KoR: Zeitschrift für internationale und
kapitalmarktorientierte Rechnungslegung,
10 (2010) 9, 425-428
Zülch, Henning / Güth, Simon
Internationalisierung der Rechnungslegung
aus Sicht von Kreditinstituten
10 (2010) 10, 501-509
Zülch, Henning / Salewski, Marcus
Ermessensspielräume bei der Bilanzierung von
Pensionsverpflichtungen – eine empirische
Analyse deutscher IFRS-Bilanzierer
Salewski, Marcus / Zülch, Henning
Managerial Discretion in Accounting for
Defined Benefit Obligations: An Empirical
Analysis of German IFRS Statements
Zülch, Henning
Lektion 1: Kennzahlen und Kennzahlensysteme in Rechnungslegung und Unternehmenssteuerung: ein Einstieg
Düsseldorf: EUROFORUM Verlag, 2010
(Schriftlicher Management-Lehrgang
‘Kennzahlen in der Unternehmensanalyse und
Unternehmenssteuerung’)
Zülch, Henning / Detzen, Dominic
Gastkommentar zum Grünbuch zur
Abschlussprüfung
10 (2010) 11, M 1
Gastkommentar: Das Grünbuch zur
Abschlussprüfung – Schreckgespenst
oder ernste Gefahr?
in: Der Betrieb 63 (2010) 44, M 1
Wesentliche Implikationen des BilMoG für
die Finanzberichterstattung in Anhang und
Lagebericht
in: Controlling – Zeitschrift für erfolgsorientierte Unternehmenssteuerung, 10 (2010),
538-543
Enforcing Financial Reporting Standards:
The Case of White Pharmaceuticals AG
32
Talks at conferences
Sebastian Hoffmann
A Historical View on the Political Fair Value
Debate in Germany
6th Accounting History International Conference,
Wellington, New Zealand,
August 18-20, 2010
Sebastian Hoffmann
Lobbying on Accounting Standard Setting in
a Parliamentary Environment – A Qualitative
Approach
5th International Workshop on Accounting and
Regulation, Siena, Italy,
September 23-25, 2010
Professor Dr. Henning Zülch
Guest lecture “Accounting Theory”
and “Advanced Auditing”
Heinrich-Heine-Universität Düsseldorf,
November 2010-January 2011
Patrick Krauß
Unexpected Audit Fees and Audit Quality:
Do Audit Fee Premiums Trigger Earnings
Management and Accounting Restatements?
Business Research Conference “Accounting
and Taxation”, University of Mannheim,
Mannheim, December 3, 2010
Professor Dr. Henning Zülch
Guest Seminar “Selected issues in
Consolidated Financial Reporting and Analysis”
Vienna University, Vienna, Austria,
November 29-December 2, 2010
Bertelsmann Business Consulting
(BeBC) intensifies cooperation
with HHL
Bertelsmann Business Consulting (BeBC) and
HHL will step up their cooperation by further
developing the Center for Financial Reporting
& Consolidation (CFRC) located at the Chair of
Accounting and Auditing headed by Professor
Dr. Henning Zülch. The purpose of the CFRC
is to promote HHL’s involvement in consulting
challenges subject to financial reporting and
consolidation according to IFRS. The CFRC
provides consulting ventures with academic
input based on research expertise in the area
of international financial reporting and consolidation. BeBC’s future engagement involves
the support of up to three positions for project
assistants. Dr. Mark-Ken Erdmann, CEO of BeBC,
is confident that by developing the CFRC, HHL
will grow into an important center for corporate
management, financial reporting and consolidation in Germany.
Chair of Financial Management
Finanzforum Alpbach 2010
October 12-17, 2010, the Chair of Financial Management held its “Finanzforum Alpbach 2010” finance conference in Alpbach, a
village in Tyrol. During the conference, the
participating doctoral candidates discussed
their ongoing research as well as recent papers. The focus was on improving research
output, finding potential fields of cooperation
and exploring possible publication strategies. Among the research topics discussed
were Mergers & Acquisitions (Sven Arnold,
Matthias Tischner), Corporate Governance
(Dominic C. Klemmer, Dr. Marco O. Sperling),
Private Equity (Alexander Knauer), Corporate
Valuation (Sven Arnold) and Conglomerate
Discount (Christin Rudolph, Bruno Nöllgen).
Many “old” doctoral students also joined
the forum, giving the current doctoral students the opportunity to reflect on practical
applications for their work and providing
a unique opportunity to become part of
the Chair’s close alumni network. One highlight was a talk on recent developments
on the German takeover market by Dr.
Gerhard Killat, MD of Lazar Germany. The
picturesque village in the Austrian Alps
gave plenty of opportunity for the families
and friends of the Chair to further
strengthen the network of current and former assistants.
Professor Dr. Bernhard Schwetzler
European Finance Association 2010
Publications
Jahn, Daniel F. / Rapp, Marc S. /
Strenger, Christian / Wolff, Michael
Der Deutsche Corporate Governance Kodex:
Compliance-Erfahrungen der Jahre 2002-2009
HHL Research Paper Series in
Corporate Governance No. 1
Rapp, Marc S. / Sperling, Marco O. /
Wolff, Michael
Wer fragt die Aktionäre? – Abstimmung
über das Vorstandsvergütungssystem:
Erfahrungen aus der HV-Saison 2010
HHL Research Paper Series in
Corporate Governance No. 2
Schwetzler, Bernhard
Corporate Governance und Eigentümerstrukturen in Deutschland
in: Bundesverband Deutscher Kapitalbeteiligungsgesellschaften e.V. (ed.): Jahrbuch
Private Equity 2010, 29-31
33
Kapitalmarktorientierte Unternehmensbewertung – Der Beitrag der DVFA zur
Standardisierung von Researchberichten,
Fairness Opinions und investorengerechten
Bewertungsansätzen
in: Rau, F. and Merk, P. (eds.): Kapitalmarkt in
Theorie und Praxis: Festschrift zum 50-jährigen
Jubiläum der DVFA, 2010, 125-134
Konsistente Unternehmensbewertung
mit Multiples
in: Königsmaier, H. and Rabel, K. (eds.): Unternehmensbewertung: Theoretische Grundlagen
– Praktische Anwendungen, Festschrift für
Gerwald Mandel zum 70. Geburtstag, 2010,
571-594
Sperling, Marco O.
Does cash burn holes in their pockets? –
Cash-rich acquirers & method of payment
in M&A
Sperling, Marco O.
Treatises on Corporate Governance
and Mergers & Acquisitions
Cumulative doctoral thesis in finance
Dominic C. Klemmer and Dr. Marco O. Sperling
attended the European Finance Association 2010
conference in Frankfurt/Main August 25-28,
2010. The conference is a European hotspot in
empirical and theoretical research in the field
of finance. Since both researchers work in the
field of M&A and empirical corporate finance,
conference presentations in this area were of
course their main focus. During the breaks there
was plenty of opportunity to exchange ideas
with other researchers and to build worldwide
networks.
Unternehmensbewertung –
Art or Science?
On September 16, 2010, Professor Dr. Bernhard
Schwetzler organized the seminar “Unternehmensbewertung – Art or Science?” at HHL’s City Campus.
The seminar was the first step in a cooperation
between HHL Executive and the German Private
Equity and Venture Capital Association e. V. (BVK) to
provide management education services for BVK
members. The seminar discussed questions and
problems at the intersection of theory and practice
in company evaluation, attracting more than 25
participants, who all agreed it was a resounding
success.
Presentations at conferences
Sven Arnold / Alexander Lahmann
The Value of the Tax Shield
Alpbach, Austria, October 13-16, 2010
Sven Arnold
German Transaction Market
Phillip Beckmann / Professor Dr. Bernhard
Schwetzler
De-Averaging the (Conglomerate) Discount
Strategic Management Society Conference,
Rome, Italy, September 13, 2010
Dominic C. Klemmer / Dr. Marco O. Sperling
Capital Structure and an Anatomy
of Corporate Distress
Dominic C. Klemmer / Dr. Marco O. Sperling
Does It Get Better over Time?
Evidence from Serial Acquisitions
Alexander Knauer
Private Equity Research Projects
Bruno Nöllgen
Impact of diversification on acquisition
likelihood and method of payments
Christin Rudolph
The impact of the financial crisis on
the conglomerate discount
Unternehmensbewertung und Kaufpreisanpassung in der derzeitigen Wirtschaftslage
CMS Hasche Sigle M&A Roadshow, Leipzig,
Germany, September 15, 2010
Professor Dr. Bernhard Schwetzler / Sven
Arnold / Alexander Lahmann
Tax Shield, Zinsschranke und
Unternehmenswert
IACVA Annual Meeting, Munich, Germany,
October 8, 2010
say-on-pay votes in Germany
Matthias Tischner
Announced Synergies in M&A Transactions
34
News from the Smile and Smile.medibiz initiatives
Both initiatives Smile and Smile.medibiz
have further successes to report. Not only
did we win the futureSAX prize for the best
start-up network in Saxony, we also had several new start-up projects and interesting
seminars.
Events
Start-up financing by the Central
Development Agency of the Free
State of Saxony (SAB) and the
Federal Employment Agency
On October 20, 2010, an event entitled “Start-up
financing by the SAB and the BA” was held at
HHL. Experts from the two institutions presented
various forms of support for company founders
and highlighted important criteria for financing
a new business successfully. More than 15
potential founders participated in the event and
enjoyed fruitful discussions on finding the right
financing sources for each step in the company
life cycle.
Start-up financing by the Leipzig
Chamber of Commerce and Industry (IHK) and the City of Leipzig
On November 10, 2010, the Smile “Start-up
financing” series of lectures continued with
interesting insights on how the IHK and the
City of Leipzig are encouraging entrepreneurs
in Leipzig. Experts presented and discussed
the instruments available for financial and
consulting support; in particular, information on
the new and innovative “Leipzig Microcredit”
was very helpful to the more than 15 potential
founders who were present.
Panel discussion at the
VDE Youth Congress in Leipzig
The VDE Youth Congress is an annual congress
attended by more than 600 students. Taking
“Opportunities and risks of founding a business”
as the topic, Smile organized a panel with two
current start-ups (Moritz von Butlar and Stephan
Preuss), a Smile coach (Matthias Tischner) and
the co-founder of Roth & Rau AG (Professor Dr.
Sylvia Roth). This discussion was very constructive for all participants, giving them many helpful
hints about establishing a business.
Management tools for founders
Seminars organized by Smile.medibiz were
again an integrated part of the curriculum of the
University of Leipzig’s Faculty for Biosciences,
Pharmacy and Psychology. As part of the elective
module “From Idea to IPO”, the coaches of
Smile.medibiz discussed all aspects of starting
up and growing a business with students and
potential founders. The seminar was offered for
the first time in the Winter Semester 2009/2010
and was very popular, with the result that there
were three times as many registrations as places
in the current semester – demonstrating that
there is a growing entrepreneurial spirit in Leipzig.
German Equity Capital Forum
April 28-29, 2010, Smile and Smile.medibiz
participated in the Deutsche Eigenkapitalforum
in Dresden which was hosted by the KfW
Bankengruppe, the German Stock Exchange
Group, and the State Ministry of Economic
Affairs and Employment of Saxony (SMWA). The
Forum is one of the top networking opportunities
for young companies seeking venture capital,
and accordingly it focuses on active venture
capital investors and business angels. There
are also workshops and lectures on the topics
of innovation and equity financing. Smile and
Smile.medibiz presented their portfolio of
initiatives supporting young founders in Leipzig.
Selected Coaching
Projects
WetterSchutz
Founded in September 2010, Deutsche WetterSchutz analyzes and prices the weather
risk to a company. By looking at the meteorological influences to whichit is exposed, a company can individually protect itself against
weather risks with so-called weather options.
In order to ensure transparency and coverage
for its customers, Deutsche WetterSchutz
collaborates with several risk carriers, including reinsurance companies and investment
funds. Target customers are weather-sensitive
companies in for example the leisure, tourist,
energy and agricultural industries.
>> www.dw-deutschewetterschutz.de
Coming up
Anwalt bei der Unternehmensgründung – sinnvoll oder sinnlos?
Using a fictitious start-up company as an example, lawyer Frank Weigelt explains step by
step what potential problems can occur in the
founding process. Corporate law, copyright
and labor law are among the problems that
will be discussed at HHL on February 9, 2011.
Contact:
>> www.smile.uni-leipzig.de
>> www.smile.medibiz.org
35
Chair of Marketing Management
59th Leadership Talk
of the Academic Society
The Academic Society for Marketing and
Business Leadership (Wissenschaftliche Gesellschaft für Marketing und Unternehmensführung) convened on November 4 and 5,
2010, at the headquarters of Gruner + Jahr
in Hamburg. Responding to the invitation
from Dr. Bernd Buchholz, CEO of Europe’s
largest publishing house, the participants
discussed the implications of the rapid and
ongoing changes in the media landscape for
market-oriented
leadership.
Prominent
speakers such as Dr. Stefan Groß-Selbeck,
CEO of XING AG, and Anke Schäferkordt,
CEO of Mediengruppe RTL Deutschland,
looked at the issues from different angles. In
order to approach the underlying importance
of the topic in a comprehensive and holistic
manner, three distinct perspectives were
chosen: Print, TV, and Internet. Yet the discussion clearly demonstrated that an iso-
lated view of single media markets is no longer
sufficient. Instead, in the light of the convergence of previously separate media markets,
companies have to focus their resources and
tune their communication strategies accordingly.
The next Leadership Talk will take place on
March 24 and 25, 2011, at the premises of
the Deutsche Post in Bonn. Moreover, in
2011 the Academic Society for Marketing
and Business Leadership will celebrate its
30th anniversary. To mark this auspicious occasion, a dedicated symposium focussing
on “Leadership in the Light of Dynamic
Markets” will be held on October 13 and 14,
2011, in Münster. Additional information will
be provided in due course.
Manuel Roj
University choice in focus
Times are tough for German universities: in
recent years, the Bologna process and political reforms have increased competition for
students. Demographics are about to worsen the situation as the numbers of potential
students in Germany will decline in the second half of the current decade. In this environment, actively recruiting high-potential
students becomes more important, as does
the academic examination of students’
choice behavior.
In a recent research project, HHL’s Chair of
Marketing Management interviewed more
than 350 first-year students at six business
schools (private and state-run) in the German
language area about the image they have
with regard to the institutions in question.
Furthermore, the students were asked about
their application intentions and behavior during their decision making. The data allows for
a detailed statistical analysis of the students’
university choice process, with a particular
focus on the relevance of cognitive and emotional images of the university and its envi-
ronment. At the beginning of the process
(application behavior), teaching and research
quality is of major importance for potential
students, as is an emotional connection with
the university’s location. The first aspect becomes less influential in later steps (application and choice). Instead, structure and services beyond core academic qualities gain
importance, and the location maintains and
even extends the significance of its role.
Other aspects such as affordability or a personal visit are additional drivers in certain
steps, whereas academic freedom was even
found to have a negative impact in the student group examined.
All in all, the project’s results demonstrate the
relevance of a process-oriented view of students’ university choice. Furthermore, the
results establish an important link between
marketing higher education in Germany and
theories well-proven in traditional buyer behavior research.
Dr. Gunther Greven
New laboratory for multisensory
communication research opens
in Leipzig
A Laboratory for Multisensory Communication
Research, which has been set up with the
support of the Media Foundation of the Sparkasse Leipzig, will open in Leipzig at the
beginning of 2011.
The laboratory, which was planned by HHL’s
Chair of Marketing Management in cooperation
with the Institute for Applied Journalism Research (IPJ) and which will be used jointly
by them in the future, concentrates on the
effectiveness of research in the field of media
communication and brand management. The
integrated use of classical methods, such as
surveys and observations, and equipment-based
methods, such as eye tracking, has proven to be
insightful in this exciting field.
Equipment-based measuring methods will be
applied in the new laboratory. For example, an
eye tracking system including analysis software
from Tobii will be available for mobile field research projects. Tobii’s technology is currently
considered to be the state of the art in the field
of head-mounted eye trackers.
Tobii Glasses
Eye Tracker
Coinciding with the laboratory’s opening,
a new PhD position supported by the Media
Foundation of the Sparkasse Leipzig, will be
created at the Chair of Marketing Management.
If you have any questions on the laboratory or
would like further information, please contact
the Chair of Marketing Management.
Beatrice Ermer
36
Publications
Backhaus, Klaus / Kirchgeorg, Manfred /
Meffert, Heribert (ed.)
Multi-Channel-Management – Effizienzfalle
oder Motor in rezessiven Zeiten
Dokumentationspapier der Wissenschaftlichen
Gesellschaft für Marketing und Unternehmensführung, Nr. 204, Leipzig, 2010.
Backhaus, Klaus / Kirchgeorg, Manfred /
Meffert, Heribert (ed.)
Wirtschaftskrise und Unternehmensreputation –
Herausforderungen und Lösungsansätze
Dokumentationspapier der Wissenschaftlichen
Gesellschaft für Marketing und Unternehmensführung, Nr. 205, Leipzig, 2010.
Fuchs, Andreas
Kundenbindung im Einzelhandel
Schriftenreihe der HHL – Leipzig Graduate
School of Management, Wiesbaden:
Gabler Verlag, 2010.
Jung, Kathrin
Ganzheitliche Markenführung von Messegesellschaften
Schriftenreihe Innovatives Markenmanagement,
Burmann, C., Kirchgeorg, M. (ed.), Wiesbaden:
Greven, Gunther
Die Hochschulwahl aus verhaltenstheoretischer
Perspektive – eine Analyse unter besonderer
Berücksichtigung affektiver und kognitiver
Einstellungsdimensionen
Schriftenreihe Innovatives Markenmanagement,
Burmann, C., Kirchgeorg, M. (ed.), Wiesbaden:
Günther, Elmar / Kirchgeorg, Manfred
Green Marketing
in: wisu Das Wirtschaftsstudium, Vol. 39. No. 6,
2010, 819-823.
Kirchgeorg, Manfred / Müller, Jenny
Personalmarketing als Schlüssel zur
Gewinnung, Bindung und Wiedergewinnung
von Mitarbeitern
in: Stock-Homburg, R., Wolff, B. (ed.):
Handbuch Personalmanagement,
Wiesbaden: Gabler Verlag, 2011.
Meffert, Heribert / Burmann, Christoph /
Kirchgeorg, Manfred
Marketing
11th ed., Wiesbaden: Gabler Verlag, 2011.
Müller, Jenny / Kirchgeorg, Manfred
Audio Branding in line with brand personality
in: Bronner, K., Hirt, R., Ringe, C. (ed.):
Audio Branding Academy Yearbook 2010/2011,
Baden-Baden, 2011.
Professor Dr. Manfred Kirchgeorg
Integrierte Kommunikation in einer
fragmentierten Medienlandschaft –
Anspruch und Wirklichkeit?
Moderation des Workshops der Wissenschaftlichen Gesellschaft für Marketing und Unternehmensführung
Leipzig, Germany, June 29, 2010
Jenny Müller
French – Austrian – German
Workshop on Consumer Behavior
Saarbrücken, Germany,
September 29 - October 2, 2010
Chair of Microeconomics
EABIS Colloquium
The Academy of Business in Society (EABIS) –
an alliance of companies, business schools
and other academic institutions – is committed to integrating corporate responsibility
and sustainability issues into the heart of
business theory and practice in Europe. The
annual EABIS Colloquium has now become
an important stakeholder platform for the exchange of scientific and practical knowledge
on the international stage.
Organized by St. Petersburg State University
Graduate School of Management, the 2010
EABIS Colloquium explored how corporate
responsibility is understood and applied in
emerging market contexts and cultures.
Business models applied by multinationals
were discussed in terms of their viability as a
framework for tackling the challenges ahead.
EABIS invited Martina Wuttke, Research Associate at the Chair of Microeconomics, to
share her ideas on an innovative approach to
systematically framing empirical studies so
that the impact of CSR strategies on poverty
alleviation can be scrutinized.
Martina Wuttke
Chair Donar
Martina Wuttke
“Development of a conceptual framework
for assessing CSR strategies of Transnational Corporations in emerging
markets with regard to poverty alleviation”
EABIS 9th Annual Colloquium and 8th PhD
Conference: Corporate Responsibility and
Emerging Markets, St. Petersburg,
September 20-22, 2010
37
Dr. Werner Jackstädt Chair of Economic and Business Ethics
Andreas Suchanek
Der Wittenberg-Prozess der
Chemie-Sozialpartner
Vorstandssitzung der Vereinigung der Arbeitgeberverbände Energie- und Versorgungswirtschaftlicher Unternehmungen (VAEU)
Flughafen Frankfurt am Main, Germany,
July 17, 2010
Andreas Suchanek
CSR and Business Ethics
4th International Conference on Corporate
Social Responsibility
Berlin, Germany, September 23, 2010
Andreas Suchanek
Der Wittenberg-Prozess der
Chemie-Sozialpartner
Auftaktworkshop zum BASF-Wittenberg-Dialog
Ludwigshafen, Germany, October 4, 2010
Andreas Suchanek
Kann unser Gesundheitssystem
(un)moralisch sein?
Vortrag anlässlich der jährlichen
KVWL-Dialog-Veranstaltung
Dortmund, Germany, October 5, 2010
Andreas Suchanek
Alltagstaugliche Ethik als Grundlage
vertrauensvoller Zusammenarbeit
Symposion der Dr. Werner Jackstädt-Stiftung
Wuppertal, Germany, October 13, 2010
Andreas Suchanek
Alltagstauglichkeit als Herausforderung
der Wirtschaftsethik
10. EWD – Diskurs (Diskurs der Forschungsgruppe Ethik und Wirtschaft im Dialog)
Berlin, Germany, October 28, 2010
Andreas Suchanek
Versprechen sind zu halten
Symposium zum Thema
“FAIRantwortungsvolles Wirtschaften”
Stift Reichersberg, Austria, November 26-27, 2010
Publications
Suchanek, Andreas
Unternehmensethik und Eigeninteresse
In: E. Kempf, K. Lüderssen, K. Volk (eds.):
Die Finanzkrise, das Wirtschaftsstrafrecht
und die Moral, Berlin / New York: de Gruyter
2010, pp. 47-70
Suchanek, Andreas
Die Verantwortung von Unternehmen
in der Gesellschaft
In: S. Braun (ed.): Gesellschaftliches Engagement von Unternehmen. Der deutsche Weg im
internationalen Kontext, Wiesbaden: VS-Verlag
für Sozialwissenschaften 2010, pp. 37-49
Suchanek, Andreas / Kerscher, Klaus-Jürgen
Der homo oeconomicus: Positives Analysemodell oder normative Anleitung
In: Arne Manzeschke (ed.): Sei ökonomisch!
Prägende Menschenbilder zwischen Modellbildung und Wirkmächtigkeit, Berlin: LITVerlag
2010, pp. 81-100
Sparkassen-Finanzgruppe Chair of Macroeconomics
Chair Donar:
New staff
Georg Siegert joined the Sparkassen-Finanzgruppe
Chair of Macroeconomics as a Research
Associate in August 2010. He is an alumnus
of the University of Regensburg, where he
graduated in Finance, and of KU Leuven,
where he graduated in Advanced Studies in
Economics. Beside his focus on financial and
monetary economics, he is interested in the
economic transition of central and eastern
European countries, and has spent several
semesters at the Center for European
Economic Research, Charles University
Prague, and the Eurohypo AG in Prague
and Warsaw.
Dr. Oliver Hoßfeld
US Money Demand, Monetary Overhang,
and Inflation
International Conference on Applied Economics,
Athens, Greece, August 26-28, 2010,
and International Network for Economic
Research (INFER) Annual Conference, Münster,
Germany, September 3-5, 2010
Publications
Dr. Oliver Hoßfeld
Equilibrium Real Effective Exchange Rates and
Real Exchange Rate Misalignments:
Time Series vs. Panel Estimates
INFER Working Paper No. 3, 2010
Dr. Oliver Hoßfeld
US Money Demand, Monetary Overhang,
and Inflation Prediction
INFER Working Paper No. 4, 2010
38
Chair of Strategic Management and Organization
Faculty exchange with Universidad de Valencia
Professor Dr. Torsten Wulf and Philip Meißner
participated in a 3-day faculty exchange with
the Department of Strategic Management at
the University of Valencia in November 2010.
The exchange was intended to strengthen
collaboration in teaching and research activities and centred on two workshops with students and faculty members. One workshop
focused on the theoretical foundations and
the application of scenario planning. Participants in the second workshop discussed their
current research topics and jointly developed
new ideas for research projects in the areas of
behavioral strategy and strategy as practice.
A visit by faculty members from Valencia to
Leipzig is planned for 2011.
Presentations at
AOM management
conference
The Academy of Management (AOM) is a professional society for scholars in the field of management. The annual international Conference
of the Academy of Management is the biggest
and most important forum for management researchers worldwide. After passing a doubleblind review process, Professor Dr. Torsten
Wulf, Philip Meißner, Jutta Miksche and Corinna Lindow had the opportunity to present two
research papers at the conference: “A Scenario-Based Approach to Strategic Planning – Integrating Planning and Process Perspective of
Strategy” and “The Concept of Fit in Strategic
Management: Does it Apply to Family Firms?”.
Additionally, a paper entitled “The Impact of
Scenario Planning on Strategic Decision
Making: A Cognitive Analysis” by Professor Dr.
Torsten Wulf and Philip Meißner received an
honorable mention as one of five Most Promising Papers in Behavioral Strategy. Our presentations and discussions with renowned researchers enabled us to underline the Chair’s
dedication to management research and to
sharpen our profile in the fields of family business, behavioral strategy and corporate governance. Among the scholars who attended our
presentations were Professor Gerard Hodgkinson (University of Leeds) and Professor
Edward Zajac (Kellogg School of Management).
PAC project with RasenBallsport
Leipzig e.V.
Doctoral research colloquium at
University of Erlangen-Nuremberg
On November 5, HHL’s MSc 5 class concluded
the introductory Problem Solving and Communication course (PAC) by presenting their solutions
to different case studies focussing on Leipzig’s
soccer club RB Leipzig e.V. The students were
challenged with four different assignments on
topics such as the improvement of spectator
access to Leipzig’s Red Bull Arena, and the
development of a new merchandizing strategy
for the club. Having applied the models and
concepts taught during the course, the students
presented their solutions to the club’s management team. Thanks go to Dr. Dieter Gudel and
his team from RB Leipzig e.V. for providing the
case studies and supporting our students as
they completed them. Given the very short
time-frame, Dr. Gudel was very impressed
by the students’ efforts and solutions.
After receiving an invitation from the Department
of Management at Friedrich-Alexander University
in Nuremberg headed by Professor Dr. Harald
Hungenberg, Professor Dr. Torsten Wulf,
Dr. Stephan Stubner, Christian Brands, Philip
Meißner and Kati Roleder participated in a two-day
doctoral research colloquium September 30October 1, 2010. Over 20 researchers from the
two chairs came together for a “mini-conference” to present the current status of their
projects and to discuss their approaches and
findings with each other. This highly interactive
format enables doctoral students to improve
their research skills and to network with other
researchers in adjacent fields. As the format
received very positive feedback from the
participants, we will continue the colloquium
in Leipzig in March.
Guest speakers
Christian Angele
CEO imedo GmbH on HR in Start-up
Companies (Introduction to Entrepreneurship)
Jochen Klüppel
Partner at Venture Capital firm Grazia Equity on
Venture Capital (Business Plan Seminar)
Dirk Graber
CEO MisterSpex GmbH on Entrepreneurial
Finance (Introduction to Entrepreneurship)
Michael Petersen
CEO labelfarm GmbH on Opportunity Recognition
(Introduction to Entrepreneurship)
Dr. Mirko Casper
Co-founder and CMO at Metaversum GmbH on
Customer Development (Introduction to Entrepreneurship)
Dr. Arno Wilfert
Partner PwC on Due Diligences in Private Equity
(Entrepreneurship round table)
39
Annual conference of the Strategic Management Society
Last year, the Chair participated in the leading academic conference for strategy scholars – the 2010 annual meeting of the
Strategic Management Society – with three
contributions. In September, Professor Dr.
Torsten Wulf, Dr. Stephan Stubner and Philip
Meißner joined over 500 international academics in the field of strategy at the meeting in Rome. They presented two papers,
one on “A Scenario-based Approach to Stra-
tegic Planning – Integrating Planning and
Process Perspective of Strategy” and another
on “Performance over the CEO life cycle –
The Impact of CEO Power on Tenure and
Performance”, co-authored with research
associates Jutta Miksche and Kati Roleder.
Furthermore, Dr. Stephan Stubner was invited to the day-long Junior Faculty Consortium
of the Competitive Strategy interest groups,
where he discussed his research agenda
with respected strategy scholars.
Finally, Professor Dr. Torsten Wulf participated in a panel discussion on “Strategic Management of Cities” together with Professor
Dr. Dodo zu Knyphausen-Aufseß (Technical
University of Berlin), Professor Dr. Björn Bloching (Roland Berger Strategy Consultants)
and Dr. Andreas Mehlhorn (Siemens AG).
Professor Dr. Torsten Wuf / Philip Meißner /
Dr. Stephan Stubner
A Scenario-Based Approach To Strategic
Planning – Integrating Planning and Process
Perspective of Strategy.
Annual Conference of the Academy
of Management
Montréal, Canada, August 9, 2010
Corinna Lindow / Jutta Miksche
The Concept of Fit in Strategic Management –
Does it apply to Family Firms?
Annual Conference of the Academy
of Management
Montréal, Canada, August 10, 2010
Professor Dr. Torsten Wulf / Professor Dr. Dodo
zu Knyphausen-Aufseß / Björn Bloching /
Andreas Mehlhorn
Strategic Management of Cities.
Panel Discussion at the Annual International
Conference of the Strategic Management Society
Professor Dr. Torsten Wulf / Dr. Stephan
Stubner / Kati Roleder / Jutta Miksche
Performance over the CEO life cycle.
Annual International Conference of
the Strategic Management Society
Professor Dr. Torsten Wulf / Philip Meißner /
Dr. Stephan Stubner
A Scenario-Based Approach To Strategic
Planning – Integrating Planning And
Process Perspective Of Strategy.
Annual International Conference of
the Strategic Management Society
Szenario-basierte strategische Planung –
ein Ansatz zur Integration der Szenarioplanung in die strategische Planung,
Symposium für Vorausschau und
Technologieplanung
Berlin, Germany, October 29, 2010
Publications
Lindow, Corinna / Stubner, Stephan / Wulf, Torsten
Strategic fit within family firms: The role of
family influence and the effect on performance
in: Journal of Family Business Strategy, Vol. 1,
Issue 3, 2010, 167-178
Wulf, Torsten / Meißner, Philip / Stubner, Stephan
Szenario-basierte strategische Planung – ein
Ansatz zur Integration der Szenarioplanung
in die strategische Planung
in: Gausemeier, J. (Ed.): Vorausschau und Technologieplanung, Paderborn: 2010, 443-458
Frank, Sergey / Wulf, Torsten
MBA – Drei Buchstaben auf dem
Weg zur Spitzenkarriere
in: Frank, S. (Ed.): Weltspitze – Erfolgs-Knowhow
für internationale Geschäfte, Haufe Freiburg:
2010, 73-76
Wulf, Torsten
Sprungbrett Master
in: Frankfurter Allgemeine Zeitung, October 2,
2010, C19
Wulf, Torsten / Viellechner, Oliver
Incumbent inertia upon disruptive change in
the airline industry: Causal factors for routine
rigidity and top management moderators
Working Paper No. 9, Leipzig 2010
Wulf, Torsten / Stubner, Stephan /
Landau, Christian / Gietl, Robert
Private Equity in Family Business
Working Paper No 10, Leipzig 2010
Wulf, Torsten / Miksche, Jutta / Roleder, Kati /
Stubner, Stephan
Performance over the CEO life cycle – an analysis of different CEO power creation behaviors
Wulf, Torsten / Meissner, Philip /
Brands, Christian / Maul, Björn
Future Scenarios for the European
Airline Industry
Wulf, Torsten / Meißner, Philip / Brands, Christian
A Scenario-based Approach to Strategic
Planning: Tool Description Scenario Matrix
Enjoy the short film
„A minute with … Professor Dr. Torsten Wulf”
www.hhl.de/faculty-research/
faculty/strategic-management
40
Heinz Nixdorf Chair of IT-based Logistics
A well-structured production
system is one secret of
long-lasting success
Hagen Brandt (left) and Christian Haag, KSB AG
On November 2, 2010, as part of the Production Management course offered by the
Heinz Nixdorf Chair of IT-based Logistics,
HHL MBA students had the opportunity to
learn more about the influence of a customized production system on a company’s
success. Mr. Haag and Mr. Brandt from the
KSB Group (one of the leading manufacturers of high-efficiency pumps, valves and
integrated system solutions for
water and waste water) impressively demonstrated the importance of a fully integrated (and sitespecific) production system to a
company’s “landscape”. They also
highlighted the various challenges
they face during the changeover
phase itself. A very important point
was that, in these kinds of cases,
decisions should be made based
not just on business calculations
alone, but cultural aspects should
also be considered. If not, such
projects may fail even though the
financial benefits had previously
been shown to be excellent. The quintessence of the guest lecture is quite simple to
understand, but to implement it remains one
of the biggest challenges for almost every
business: even if your products satisfy the
customer’s expectations fully, you will lose
the order if the production time is longer than
the time the customer is willing to wait.
Special mission – World Courier
(Deutschland) GmbH
On November 29, 2010, as part of the “Fundamentals of Logistics” course at the Heinz
Nixdorf Chair of IT-based Logistics, chairholder Professor Dr. Iris Hausladen, the MSc5
class and exchange students from HHL
received some background information about
the international premium courier service provider World Courier (Deutschland) GmbH.
In his presentation, Mr. Fleischer, Regional
Quality Manager NCEE at the company, focussed on the role of time-critical transports
for pharmaceutical products and the resulting
special challenges for the courier service provider. He began by explaining the special legal
regulations affecting the transportation of
pharmaceutical products, then moved on to
the concept of Good Distribution Practice
(GDP) before introducing the three pillars supporting the successful application of GDP.
These pillars are first of all a good quality
system, secondly well-trained and motivated
people and, thirdly, the sensible and efficient
application of the technologies available.
Following his talk, Mr. Fleischer answered
numerous questions from the students. Special thanks go to World Courier (Deutschland)
GmbH for supporting and enriching the course
with authentic practical insights into the daily
business of a premium courier service provider.
A big thank-you goes to Dr. Horst Nasko
from the Heinz Nixdorf Foundation.
We are delighted that the foundation has
extended its support for the Heinz Nixdorf Chair
of IT-based Logistics.
Tools for successful Supply Chain
Improvement – Introduced by
Booz & Company
“Lean Management” and “Six Sigma” are
well-known tools for process optimization in
the field of Production Management. During
the lecture by Professor Dr. Iris Hausladen on
October 15, 2010, part-time MBA students (P6)
received practical insights into the use of these
tools as well as a helpful theoretical framework.
In a guest presentation by Laura Kronen from
the internationally renowned consultants Booz &
Company GmbH, students heard more about the
application and the role of Lean Management
and Six Sigma in Booz & Company’s daily
business. This was followed by a workshop run
by Anne Dietrich and Dr. Jens Engelmann also
from Booz & Company GmbH, as well as Laura
Kronen herself. In the workshop, the students
had to take on different roles and tasks in a
production company. Using the “learning by
doing” principle, the participants had to develop
ways of improving production processes and
measuring the effectiveness of these improvements by means of output, lead time or productivity. HHL and the Heinz Nixdorf Chair of
IT-based Logistics would like to thank everybody
from Booz & Company GmbH very much for their
efforts and the fruitful cooperation.
BMW plant Leipzig – highlevel logistics solutions
On December 3, 2010, the BMW Leipzig
plant again opened its doors to HHL students. The guided tour was organized by
the Heinz Nixdorf Chair of IT-based Logistics. MSc5 and exchange students in the
“Fundamentals of Logistics” course took
the opportunity to get practical insights into
the logistics processes and production
structures in place at the modern automobile manufacturing facility. During the tour
guided by Mr. Reichel from BMW, the students heard fascinating and detailed information about the production logistics in
front of them. For example, our guide highlighted concepts such as just in time / just in
sequence delivery and the sophisticated au-
41
Evaluation of the costs and
benefits of IT logistics applications
tomated production system. This helped us
gain a better understanding of the complexity of logistics as well as their fundamental
role in real business life. It quickly became
clear that logistics control the entire production process at BMW in Leipzig. Furthermore, Mr. Reichel pointed out that the production of electric cars will commence in
Leipzig in the very near future.
The company visit is another demonstration
of the highly practical orientation of the programs at HHL. HHL and the Heinz Nixdorf
Chair of IT-based Logistics would like to
thank all at the BMW plant in Leipzig for their
contribution and their assistance.
Having taken into account a large number of theoretical concepts, tested their usability in practice
and analyzed the requirements for a cost-benefit
evaluation concept, the Center for IT-based
Logistics Leipzig (CITLOG) was proud to present
the first concept proposal to the participating
companies in the working group “Evaluation of the
costs and benefits of IT logistics applications” on
November 4, 2010. While most existing concepts
focus only on specific IT logistics applications
such as RFID, the proposal developed by CITLOG
can be used for all kinds of IT logistics applications. Due to its modular structure, the concept
can easily include a variety of applications ranging,
from a simple qualitative identification of the most
important costs, benefits and risks all the way to
a detailed quantitative analysis including of the
whole palette of effects. The next step for the
working group is to test the concept in detail in
terms of its practical usability. Then, it will be
further developed in the upcoming months by
applying the concept in practice. After that, the
finalized version will be presented and published.
SWOT analysis for the network
biomedical logistics – bm-log
w w w.HHL’s
g a bCenter
l e r . for
d eIT-based Logistics Leipzig
Buchinformation
(CITLOG) is executing a SWOT analysis on behalf
of the biomedical logistics network – bm-log for
all the companies in the network. Interviews are
Publication
Guest lecturers
conducted with the companies, plants are toured,
Hausladen, Iris
Laura Kronen
internal company functions are analyzed, and the
IT-gestützte Logistik
Booz & Company, “Lean Management &
balance sheets are assessed. The results of the
www.gabler.de
Systeme – Prozesse – Anwendungen
Six Sigma – Tools for Successful Supply
SWOT analysis will allow companies to classify
Wiesbaden: Gabler Verlag, 2011.
Chain Improvement”
themselves within the industry, and enable
entrepreneurs to investigate underused or even
Laura Kronen, Dr. Jens Engelmann,
Von Iris Hausladen
untapped potential, as well as weaknesses that
IT-gestützte Logistik
Anne Dietrich
need to be compensated.
Systeme - Prozesse - Anwendungen
Booz & Company, Business Game on the topic
2011. X, 309 Seiten. Mit
127 Abb.
u. 1 Tab.&Broschur.
EUR 34,95 ISBN 978-3-8349-2199-4
“Lean
Management
Six Sigma”
Special thanks go to Sparkasse Leipzig for
Michael
Fleischer
Dieses Buch vermittelt die
Grundlagen
und praktischen Anwendungen der IT-gestützten
supporting the SWOT analysis by providing
Logistik. Anhand der logistischen
Prozesskette
– vonGmbH,
der Beschaffungs- und industry data.
World Courier
Deutschland
Produktionslogistik bis zur
Distributionslogistik
werden die wichtigsten Konzepte und Tools
“Quality
and GxP in the–Logistics”
vorgestellt. Zahlreiche anschauliche Fallbeispiele geben einen strukturierten Einblick in das
Management IT-gestützter
Logistik,Haag,
die Erfolgsfaktoren
für eine
Christian
Hagen Brandt sowie RahmenbedingungenContact:
effiziente Steuerung logistischer
Abläufe
durch
IT.
Professor Dr. Iris Hausladen
KSB Aktiengesellschaft, “KSB Production
System – Location Halle”
Inhalt
Grundlagen der IT-gestützten Logistik
IT-gestütztes Logistiksystem
Informations- und Kommunikationstechnologien als Enabler
Prozesse und Anwendungen der IT-gestützten Logistik:
42
Chair of Economics and Information Systems
ITmitte.de “Partner Power for the IT landscape”
Leading IT companies from Saxony launched
the ITmitte.de community in February 2010.
The portal was initiated by 20 partners in
Central Germany, including T-Systems,
Unister, Q-Cells, Gisa, and Perdata. All these
organizations develop and manage complex
e-business software solutions, thus relying on
a large number of specialists in the field of
computer sciences, information systems and
economics in order to remain competitive in
their respective industries. As a result, they
are in constant search of new employees,
and this represents a substantial cost for the
firms in terms of arranging interviews and testing, travel expenses for the interviewers, and
opportunity costs during the search period.
These expenses can limit the pace at which
large companies develop their business,
while the consequences for SMEs may be
even worse.
The online platform www.ITmitte.de aims to
optimize HR processes for the companies
involved. The partners in the community
publish all their open positions on the
community’s online portal www.ITmitte.de,
and also recommend to each other outstanding applicants and current employees who
cannot be employed or retained for whatever
reason. The Chair of Economics and Informa-
EU Project: EmPower
In October 2010, the Chair of Information Systems together with 12 international partners
from four regions (Estonia, Germany, Spain and
Western Macedonia) and representatives from
Intelligent Energy Europe (IEE) held the first interregional meeting for the EmPower project. The
project aims to disseminate intelligent energy
(IE) technologies, where potential remains
largely unexploited due to a lack of experience
or technical knowledge among installation
planners. Prime target areas for expansion are
regions where local supply and demand are
strong, but the goal is to increase application of
IE across the EU as a whole. Engineering companies, architects, installers and other stakeholders will be empowered to exploit IE solutions and to transmit the benefits to their clients,
activating a virtuous circle of economic and
technological progress already seen in some
EU regions. Currently, the project is in its initial
phase, which involves launching the website
and creating an intelligent database in order to
offer small and medium-sized companies an
opportunity to present their renewable energy
products and energy-saving solutions. This
phase involves several networking activities,
and an ongoing international exchange of
knowledge between different institutions re-
garding the development of new technologies
and their application. As a project partner, HHL,
and the Chair of Economics and Information
Systems in particular, is striving to ensure the
sustainability of the project by developing a
sound financial and marketing plan. Furthermore, our contribution to the project extends to
the networking activities and the development
of application courses for SMEs to help them
deal with the issues of funding new technologies and developing business plans to ensure
the success of their endeavors. In line with
these tasks, the Chair will host a networking
event in April 2011 in cooperation with the
German regional partners. The event will include
workshops for SMEs and secondary users of
intelligent energy products.
>> www.ITmitte.de/mitmachen
Co-organization of conference
Together with HHL’s Center for Leading Innovation
& Cooperation (CLIC) and four other universities,
the Chair of Economics and Information Systems
was involved in co-organizing one of the largest
computer science conferences in Germany,
Computer Science 2010. The conference took
place in Leipzig September 27-October 2, 2010,
focussing on Service Science, and specifically on
how computer science can contribute to service
industry research through the deployment of
production technology and logistics.
Professor Pierfrancesco La Mura, PhD
2nd Brazilian Workshop of the Game Theory
Society, Sao Paulo, Brazil, July 29-August 4, 2010
“Game theory without decision-theoretic
paradoxes”
Ekaterina Demidova
2nd Brazilian Workshop of the Game Theory
Society, Sao Paulo, Brazil, July 29-August 4, 2010
“Bargaining with Incomplete Information”
Invited Talks
Professor Pierfrancesco La Mura, PhD
City University of New York, November 12, 2010
“Quantum vs. Classical Memory”
Enjoy the short film „A minute with …
Professor Pierfrancesco La Mura”
www.hhl.de/faculty-research/
faculty/information-systems
tion Systems supports the initiative by promoting ITmitte.de’s community within our network
of students and entrepreneurial alumni. Moreover, research cooperation has been established in order to bring together excellent
Master level students with an interest in the
research and development of new internetbased solutions for human resources and an
innovative community which can benefit from
their ideas to improve their own processes.
Finally, the Chair of Economics and Information Systems advises IT.mitte.de on the future
development of their business.
Careers
43
Consulting firms continue
to be the employers
of choice at HHL
In summer 2010, the third class of the Master Program in Management (MSc3) graduated from HHL. Looking at the placement
pattern of the previous class (MSc2), consultancy continues to be the most attractive
area of employment, with almost 44% of
gradates going into it. Manufacturing was in
joint second place with postgraduate stu-
dies (both around 19%). In 2010, the option
of starting a career in a service industry, the
media or telecommunications industries
was chosen by one in eight graduates. The
proportion of graduates taking up a position
in the financial sector fell dramatically from
18% (2009) to 6% (2010).
Placement Statistics of the Master Program in Management in 2009 and 2010
44%
Consulting
47%
19%
Manufacturing
12%
In September 2010, HHL introduced a European Career Track (ECT), giving its fulltime MBA students the opportunity to undertake an internship in France or Italy with the
goal of gaining a better insight into European management. The basis of the European
Career Track is the JOINUS cooperation, a
pan-European network set up in early 2009
by HHL, Audencia Nantes School of Management in France and MIP Politecnico di
Milano School of Management in Italy.
The MBA students in the ECT program profit from access to the local career networks
of the partner schools and from the support
and involvement of other, local MBA students. HHL’s goal is to improve further its
graduates’ profile on the European job market while raising awareness of the HHL
brand among European businesses. The
ECT is growth-oriented and the schools intend to expand the network by including
more partners over the next three years.
19%
Postgraduate
Studies
Media/Telecommunications/Service
European
Career Track
Students have the chance to use their fifth
semester to participate in the European Career Track and do an internship in Italy or
France and/or selected courses at either MIP
or Audencia. Similar opportunities are open
for MBA students from Audencia or MIP.
12%
13%
0%
6%
Banks
18%
2010
Natalie Nürnberg
2009
MBA Career Fair
Following last year’s huge success, the MBA
Career Fair will take place again on April 4,
2011, in Berlin. The MBA Career Fair is an excellent chance for companies to recruit international MBA graduates from GISMA Business School and HHL – Leipzig Graduate
School of Management. Both business
schools are accredited by AACSB and operate under the trademark of this internationally
respected accrediting agency. The fair offers
companies a variety of ways to meet MBA
graduates through workshops, pre-selected
personal interviews, company presentations
and an open forum.
About 150 MBA students with multicultural
origins and diverse academic backgrounds,
including engineering, business studies and
social sciences, are expected to participate
in the fair.
To date the following companies have registered:
•Deutsche Post DHL Inhouse Consulting
•Barilla
•Bertelsmann
•Henkel
•ECE
•SAP
Anett Wagner
HHL’s online recruiting platform
for students, alumni and recruiting partners
http://recruiting.hhl.de
Careers
44
An interesting variety of company presentations at HHL
In fall 2010 HHL’s Career Service once again
organized a series of exclusive opportunities
for students to meet with potential employers
from different industries, including consulting
and banking. A total of 16 corporate presentations, workshops and recruiting events
were held by high-ranking company representatives including HHL alumni. Most of
these events were followed by an informal
get-together which gave the students an additional opportunity for networking with the
HR managers.
The fall 2010 recruitment season saw a
number of new companies at HHL. On campus for the first time, IBM Global Business
Services held an interesting bootcamp on
strategy consulting, whilst A.T. Kearney showed
itself to be an attractive employer in its interactive session. Commerzbank AG’s topic for
their first HHL presentation was entitled “Two
years after Lehman – lessons learned from the
financial crisis”, and Morgan Stanley’s theme
was the “Impact of the financial crisis on the
financial services industries.” McKinsey &
Company, Inc. trained HHL’s students for the
upcoming application process in consulting
firms, giving them useful advice from firsthand experience. Roland Berger Strategy
Consultants GmbH focused on the global
market for environmental technologies in their
presentation “Green Tech – Opportunities,
Challenges and Future Prospects.” Another
exciting event was without doubt the Booz &
Company GmbH presentation which led HHL
students into Leipzig’s zoo at night - the evening was not only unique for those visiting the
zoo for the first time. A very different aspect of
the daily challenges in management was
brought home to HHL students by Siemens
Management Consulting (SMC), the in-house
consulting firm of Siemens AG. HHL students
learned the basics of interpersonal skills as a
foundation of successful leadership and
gained interesting insights into the structure of
their own and other people's personality.
HHL’s entrepreneurs
Interview
Stefan Merker (K22)
In September 2010, Stefan Merker (K22)
founded his own company Deutsche
WetterSchutz GmbH. HHL news talks with
the 27-year old entrepreneur from Leipzig
about the inspiration for and idea behind his
successful business.
HHL news: Your business idea seems
quite unusual. How did everything start?
In summer 2009, I had a conversation with
three HHL alumni about weather risks in the
tourism industry and the potential demand for
an insurance-like weather coverage. And so
the idea was born to create a product
covering tourists against rainfall or cold
temperatures during their summer holidays in
central Europe. Based on this idea, we rapidly
realized that tourism is just one of many
industries with enormous weather risks.
Agriculture, leisure, and the energy industry
are also affected by weather factors. In
several meetings with potential customers in
different sectors, we realized that the design
of the product must be individual, simple
and parametric without the complex
proof-of-loss process of “normal” insurance
solutions. We discovered the financial
product “weather option” and found that it
complied excellently with these requirements. This insurance-linked security
emerged back in the late 1990s in the U.S.
and provides the foundation for our individual
weather coverage solutions.
HHL news: How do you plan to expand
your business in the future?
For 2011, we will focus on our proof-of-concept by settling our first deals. In addition, we
are planning to develop a unique software
system automating our main internal processes, which are weather risk analysis,
weather data management and weather option
pricing. This will push up the quantity of deals
per month. To enlarge our sales pipeline in
future, we are currently negotiating with several
reinsurance companies to build a cooperation
with mutual benefit for our customer contacts.
HHL news: With more than 100 successful start-ups, HHL has made a name for
itself as an academy for entrepreneurs.
How do you personally benefit from the
focus on entrepreneurship at HHL?
During my studies at HHL, I not only learned
how to use the necessary tools for establishing a start-up, but also I was able to
benefit from the large network HHL has
developed over the years. Without this
network, Deutsche WetterSchutz would not
have been set up. Consequently, we not only
benefit from HHL, but are “a product of HHL”.
Careers
45
Comparing funeral services
With Bestattungen.de customers can
quickly compare services and prices offered by funeral parlors throughout Germany, free of cost. Customers visit the
website to specify their funeral requirements, and the experts at Bestattungen.de
find them the best tailor-made offers. The
website earns a commission from funeral
companies. Fabian Schaaf says: “Our
current focus is on the German market
and we want to strengthen our leadership
position here.”
In summer 2010 Fabian Schaaf (M9) and his
business partners, the venture capitalist and entrepreneur duo Daniel Grözinger and Sven
Schmidt, came up with the idea of a price comparison website for funeral services. Just a couple of months later, they sold their first funeral.
He adds: “Inspired by my interaction with
HHL’s alumni entrepreneurs and their success stories, I decided to become an entrepreneur myself. During the MBA program
the rigorous case studies and business plan
development module taught me to think
from an entrepreneur’s point of view. Upon
graduation I started Auskunft.de, my first
project with Daniel and Sven whom I met
through the HHL network. We are currently
working on our next business idea and plan
to expand our portfolio of websites.”
>> www.bestattungen.de
Fabian Schaaf, CEO
of GBV Gesellschaft
für Bestattungen
und Vorsorge mbH
Brief news on entrepreneurs
Start-up Career Fair: One of the key drivers
of entrepreneurial spirit at HHL is the frequent
interaction with start-up founders. The Start-up
Career Fair offers an excellent opportunity for
networking with entrepreneurs and getting an
update on internship and career opportunities
with young growth companies. In the first week
of classes in September, entrepreneurs from
four start-up companies came together with
over 80 HHL students for an evening of presentations, a BBQ and discussions. The start-ups
present were e-learning portal Lecturio with
HHL alumni Tim Koschella (K21) and Martin
Schlichte (K21), B-to-B platform kaeuferportal.de
with HHL alumnus Robert Heesen (MSc2),
online gaming provider Playnik with HHL
alumnus Malte Paul (K10) and headhunter
i-potentials with Constance Buchheim.
Entrepreneurship round-table: In November
2010, Dr. Arno Wilfert, partner at PricewaterhouseCoopers (PwC), came to HHL for an
Entrepreneurship round table and presented
an update on the private equity industry and
the PwC approach to Due Diligence.
Awards:
Online optician MisterSpex has received two
major accolades since the last edition of HHL
news. The company founded by HHL alumni
Dirk Graber (K15) and Björn Sykora (K17)
received the Deutscher Unternehmerpreis
in the start-up category for their innovative
business model and track record (over 100
employees, more than EUR 10 million in revenues in 2010). The company also secured EUR
7 million venture capital funding in a financing
round led by UK-based DN Capital to bankroll
its continued growth.
Gollmann Kommissioniersysteme, a provider
of storage automation systems set up by HHL
alumnus Daniel Gollmann (M4), was nominated
for the “Newcomer of the Year” award at the
Deutscher Unternehmerpreis.
HHL alumnus Karsten Schröder (K8), founder of
hedge fund company Amplitude Capital, was
named among the “4 times 40 under 40” high
potentials list in the Business category by the
business magazine Capital.
The co-founder of travel portal trivago and HHL
alumnus Malte Siewert (K6) was named one of
the top 3 online managers in Germany by industry magazine Business Travel Manager.
HHL alumni Stefan Merker (K22) and Alexander
Schlagenhaufer (K21) were selected as finalists
in the WirtschaftsWoche-Gründerpreis with their
start-up company Deutsche Wetterschutz,
which focusses on providing solutions to
hedging weather-induced business risks.
Social games publisher Plinga started by HHL
alumni Johannes Kreibohm (K21) and Thorsten
Lubinski (K6) secured a financing round from
games producer Spil Games.
New HHL start-ups:
·Christoph Behn (K13) has started his second company besides the existing baby and chil dren’s clothing company Kariertundzugenäht.
He has now established a greetings and
invitation card service at kartenmacherei.com.
·Kai Thürbach (former doctoral student) co-
founded a new supplement magazine for the newspaper Süddeutsche Zeitung. The serial entrepreneur (e.g. sekretaria.de) started the specialist magazine Unofolio, which concen trates on the cultural scene in Germany.
·Martin Rosenberger, a graduate from the Executive MBA Program run jointly by HHL and Technische Universität München, started the
social entrepreneurship venture treems.com, with which he aims to offer an online solution for everybody interested in protecting the world’s forests.
Enjoy the short film
„A minute with … Dr. Stephan Stubner”
www.hhl.de/faculty-research/faculty/
program-for-international-entrepreneurship
Backg round
46
My way in…
There is no place like home
and what should I do? I have been a passionate rower for 13 years. The sport had always
laid out the path before me, but not now. I had
decided to end my international rowing career,
because you can’t live on water and sun alone.
Like many others before me, I found myself at a
crossroads after graduation. Where should I go
As a student-athlete, I have always risen to
the challenge not only out on the water, but
also in the academic sphere. Very quickly, I
decided that I would like to challenge myself
once more by seeking a Master’s degree.
Why did I opt for HHL? I traveled all around
the world for four years, from Europe to the
US to China and back, and I had to admit
there is no place like home. In my opinion,
HHL offered me the best program in Germany and, on top of that, it is in my home town.
Coming from the largest university in the
U.S., I was easily convinced by the advantages of small classes and the excellent networking opportunities. The program is demanding, but I have been trained to perform
under pressure, and it is nothing more than
I would expect from a future job. In the end,
the toughest challenges are the most rewarding ones.
Simone Haubner (MSc5)
24 international
teams vied for the
HHL Cooking Spoon
Prospective students of
HHL’s M.Sc. class 2035
Carl Friedrich Petersen
(*29.10.2010)
Parents: Melanie Janke (Head
of Career Service/Corporate
Relations) and Dr. Nikolaus Petersen
Paul Dierk Näther
(*15.11.2010)
Parents: Jana Näther
(Managing Director HHL
Executive) and Dierk Näther
Nika Wessel (*17.10.2010)
Parents: Franka Storzer (Student Affairs/
Examination Office) and Martin Wessel
As an extension of the introduction week, three
students in the Master of Science class MSc5
organized “HHL kocht”. The idea behind the
event was to give new students at HHL the
opportunity to get to know their fellow students
in a relaxed atmosphere. Each team had to
prepare one course of a three-course meal,
and had the chance to enjoy the other two
courses at the other teams’ apartments, all in
one evening. On September 21, 2010, 55 participants formed 24 international teams, and
the cooking and tasting began. Afterwards,
the participating students awarded the HHL
Cooking Spoon to the team of Simon Dornscheidt and Gerhardt Kalterherberg (M11) for
their outstanding performance cooking and
serving their course. Their masterpiece was
home-made ice cream and a bowl of seasonal
fruits. All the students agreed that the first edition of “HHL kocht” was a lot of fun and are
looking forward to the second edition.
Backg round
47
HHL is grateful to the Kramer Foundation’s donors:
Dr. Andreas Schmidt, Berlin
Professor Dr. Kathrin Möslein, Leipzig
Dr. Judith Marquardt, Halle (Saale)
Professor Dr. Dr. h. c. Hans Wiesmeth, Leipzig
Ute and Winfried Pinninghoff, Lüdinghausen
KODA Stanz- und Biegetechnik GmbH, Dortmund
Roland Berger Strategy Consultants, Munich
Dr. Hans-Paul Bürkner, Frankfurt/Main
Festo Corporation, Hauppage (New York), USA
Professor Dr. Dr. Helmut Sihler, Pörtschach am
Wörthersee, Austria
Professor Dr. Dr. h. c. mult. Heribert Meffert,
Münster
Beatrice Deutschland GmbH, Paderborn
Festo AG & Co. KG, Esslingen-Berkheim
Sparkasse Leipzig
Dr. Norbert Emmerich, Münster
Kreiskrankenhaus Greiz GmbH, Greiz/Thuringia
Marco Minnerup, Oberursel
Harald and Nicola Lehmkühler, Warendorf
Sachsen Bank (former Sachsen LB), Leipzig
Deutsche Bundesbank Hauptverwaltung, Leipzig
E. Breuninger GmbH & Co., Leipzig
Deutsche Bahn AG, Berlin
Alte Leipziger Lebensversicherung aG, Oberursel
Dr. Siegfried Luther, Gütersloh
Chamber of Commerce and Industry Leipzig
Professor Dr. Dr. h. c. Karl-Heinz Forster,
Frankfurt/Main
Dr. Christian Elsner, Leipzig
Dr. Ing. h. c. F. Porsche AG, Stuttgart
Deutsche Bank AG, Frankfurt/Main
Dr. jur. Dr. h. c. Ludwig Trippen, Münster
Hans-Peter Wehner, Cologne
Professor Dr. Hans Göschel, Leipzig
Bayerische Hypo- und Vereinsbank AG, Munich
Ernst & Young AG, Berlin
Deutsche Industriebank AG, Leipzig
Stadtwerke Leipzig GmbH
Robert Bosch GmbH, Gerlingen-Schillerhöhe
Martens & Prahl Versicherungskontor GmbH,
Leipzig
Professor Dr. Gert Assmus, Hanover (New
Hampshire), USA
Professor Dr. Christian Milow, Kronberg
Frank Wilhelmi, Heidelberg
in memoriam Florian Zinsmeister, Straubing
The Terboven Family, Rheinberg
The Uhlig Family, Oberursel
Markus Schmitt, Bad Soden
Friedrich von Ploetz, Berlin
Thomas Butzlaff, Berlin
Dr. Alfred Oetker, Bielefeld
The Dr. Enders Family, Bornheim
Dr. Michael Rau, Frankfurt/Main
Silvia and Harald Hungenberg, Lich
Anja Nietzschmann, Taucha
Bernhard Walter, Frankfurt/Main
Michael Petersen, Leipzig
Hubertus Scherer jun., Hannover
Dr. Hans-Dietrich Winkhaus, Düsseldorf
Christian Pfingsten, Düsseldorf
Professor Dr. Dieter J. Pommerening, Hamburg
Michael Veit, Munich
PricewaterhouseCoopers AG, Frankfurt/Main
Kommunale Wasserwerke Leipzig GmbH
Siemens AG, Leipzig
Dr. Arend Oetker, Berlin
Ludwig-Ferdinand Prinz zu Sayn-Wittgenstein-Berleburg, Bad Laasphe
UNIPLAN International GmbH & Co KG, Kerpen
Henkel KGaA, Düsseldorf
Dr. Johannes Habbig, Bergisch Gladbach
Bettina Kudla, Leipzig
K19 of HHL
Sebastian Just, Munich
b&m management, Zurich, Switzerland
Karl Kolle, Dortmund
Goldman, Sachs & Co. oHG, Frankfurt/Main
WIPConceptWinfriedPinninghoff, Leipzig
K13 of HHL
Ivy League Organizing Team 2006 / K20 of HHL
Peter Krakow, Leipzig
Alexander von Reden, Leipzig
Familie Detlev von Plato, Heiligenthal/Lüneburg
Christian Freiherr von Humboldt-Dachroeden,
Hamburg
Stephan Schröter, Leipzig
Kinowelt GmbH, Leipzig
Weber Rohrleitungsbau GmbH & Co. KG,
Merseburg
Deloitte & Touche GmbH, Leipzig
BGH Edelstahlwerke GmbH, Freital
BMW AG, Werk Leipzig
Ivy League Organizing Team 2007 / K21 &
MSc1 of HHL
The Steusloff Family, Frankfurt/Main
P2 of HHL
Dow Olefinverbund GmbH, Schkopau
Dr. Burkhart Eymer, Lübeck
Andreas Frisch, Frankfurt/Main
Dr. Niklas Darijtschuk, Verl
Dr. Gerd and Nicola Robertz, Augsburg
Ciarán O’Leary, Munich
CosiFan Computersysteme GmbH, Leipzig
Dr. Kerstin Faaß and Tobias Fehre, Frankfurt/Main
Daniel Theuerkauf, London, UK
Dr. Alois and Antonella Waldburg-Zeil, Leipzig
Dr. Emilio Matthaei, Oxford, UK
Dr. Nikolaus Petersen, Leipzig
Peter Dorsch, Leipzig
VNG Verbundnetz Gas AG, Leipzig
Veolia Wasser GmbH, Leipzig
Daniel Kirchhof, Leipzig
Irena Tomys, Mirkow, Poland
Professor Dr. Bernhard and Gisela Schwetzler,
Leipzig
Katharina Rosenbohm, Frankfurt/Main
Thorsten Becker, Hamburg
Büromöbel Müller Sachsen GmbH, Leipzig
Telefonanlagenbau Spanka GmbH, Schkeuditz
Dr. Christiane Springer, Leipzig
Elfriede & Dr. Horst Saalbach, West Palm
Beach (Florida), USA
P4 of HHL
Professor Dr. Georg Milbradt, Dresden
Leipziger Stadtbau AG, Leipzig
LIB-IT GmbH, Pleidelsheim
Heinz Nixdorf Foundation, Essen
Gelsenwasser AG, Gelsenkirchen
SAM Sachsen Asset Management GmbH, Leipzig
Friedhelm Wachs, Leipzig
MOHNS | TINTELNOT | PRUGGMAYER
| VENNEMANN, Leipzig
We are grateful to BDO Deutsche Warentreuhand AG Wirtschaftsprüfungsgesellschaft, Leipzig, for their pro bono support.
Help to shape a great future for HHL!
The account details are
Account name: Kramerstiftung der HHL
Bank: Deutsche Bank AG
Bank code: 860 700 00
IBAN: DE90 8607 0000 1719913 00
BIC (SWIFT CODE): DEUTDE8LXXX
Purpose of payment: Zustiftung/Endowment
European Ivy League, Information Day,
The Negotiation Challenge – Are you interested in
upcoming events at HHL?
www.hhl.de/events
48
Backg round
Action! – New HHL image film
Upcoming events 2011
March 11-13: The Negotiation Challenge (TNC)
April 4: MBA Career Fair Berlin
April 14-15: 1st Annual HHL Energy Conference
April 29: HHL Information Day
April 30: GMAT Seminar
May 5: Kick-off of HHL Executive’s
General Management Program
June 3-5: XV European Ivy League
June 17-19: Leadership Seminar
“Führen mit Taktgefühl”
Six students from around the world are the
protagonists in the new HHL image film in
which they talk about the advantages and
strengths of HHL. The film produced by
commlab GmbH | audivisuelle Kommunikation is available on the HHL homepage, on
several web portals and at education fairs.
Jana Vogel, Head of Marketing at HHL,
says: “The image film is intended to draw
attention to the benefits of HHL, which are
internationality, individual attention, quality
of teaching as well as career opportunities,
and it also to communicates the down-toearth atmosphere among our students,
professors and staff.”
The filming itself lasted four days and took
place at characteristic locations in Leipzig.
>> www.hhl.de/imagefilm
July 30: Graduation
Application deadlines for
HHL’s study programs
Full-time M.Sc. Program: June 20
Full-time MBA Program: June 30,
Non-EU applicants: May 30
Part-time M.Sc. Program /
Part-time MBA Program: November 1
Impressum
PUBLISHER: HHL – Leipzig Graduate School of Management
Jahnallee 59 · 04109 Leipzig · Germany
Tel.: +49 341 985160 · Fax: +49 341 4773243
E-mail: [email protected] · Internet: www.hhl.de
PUBLICATION DATE: January 28, 2011
V.I.S.D.P.: Professor Dr. Arnis Vilks, Dean of HHL
editors: Executive Management of HHL: Professor Dr. Arnis
Vilks (Dean), Dr. Judith Marquardt (Chancellor)
Editorial Board: Volker Stößel (MBA), Jana Vogel,
Carolyn V. Teschner
concept, AdvertisEments: WSB Werbeagentur GmbH
Neumarkt 20 · 04109 Leipzig · Germany
Tel.: +49 341 141000 · Fax: +49 341 1410014
PHOTOS: HHL - tobii.com (page 35) - Universidad
de Valencia (page 38) - commlab (page 48)
Frequency: twice a year
Circulation: 5,000
ISSN 1433 934X | ISSN 1867-8017
Thank you to all contributors and proofreaders of this edition.

Students

Transcription

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