HHL – Leipzig Graduate School of Management
Executive Education
B a ck g r o u n d
New! Part-time M.Sc. Program
starts in 2011
Starting work after completing a Bachelor’s
degree does not have to mean that you’ve
seen the inside of a classroom for the last
time. The so-called Bologna process has
made it much easier to go back to college to
earn your Master’s degree after gaining some
work experience. Particularly suitable in this
respect are part-time programs, and HHL will
be offering a part-time M.Sc. in Management
from January 2011 onwards. The program
brings companies benefits by acquainting
motivated, experienced employees with the
very latest in theoretical research to back up
their solid practical know-how. The combination can be a powerful motor driving the
company’s objectives forward.
Practical management knowledge
and skills
Students can identify with the goals of the
program. The main focus is on acquiring an
in-depth understanding of management and
the requisite skills with the help of the latest
research methods. The M.Sc. sharpens
business executives’ critical faculties and
problem-solving skills, yet ethics and social
awareness are anything but forgotten, as
they also play an important role in HHL’s
wider objective of educating effective and responsible business leaders.
Closing date for applications for the two-year
part-time M.Sc. program is November 1. The
curriculum is based closely on HHL’s full-time
M.Sc. with the courses taking place in Leipzig every two weeks on Fridays and Saturdays. As with the full-time program, the parttime M.Sc. is taught entirely in English by
renowned professors and experts from the
business world. HHL’s M.Sc. is firmly rooted
in scholarly research, but also establishes
links to management practice, particularly in
the specializations offered, which are Finance, Accounting, Marketing Management,
Logistics & Supply Chain Management, Strategy, and Entrepreneurship.
pp. 3-6
Professor Vilks is new HHL Dean
Farewell to Professor Wiesmeth
Gesellschaft der Freunde der HHL – GdF
New Center for Corporate Governance
Part-time M.Sc. Program accredited by ACQUIN
New Research Professors
HHL’s International Entrepreneurship Program
Awards and top rankings
IHK promotes HHL project
HHL and the Wittenberg Center for Global Ethics
pp. 8-11
Shape the future!
New HHL Students’ Lounge
HHL’s Kramer Foundation newly structured
2nd International HHL Manager Golf Cup
Research at CLIC
Executive Education pp. 12-13
General Management Program 2011
Upcoming programs
Students pp. 14-19
XIV European Ivy League
HHL Energy Club
Beta Gamma Sigma Scholarship 2010
The Negotiation Challenge (TNC)
[email protected]
The negotiation “cook book”
1st HHL Students’ Golf Trophy
HHL’s exchange students
Alumni “The new part-time M.Sc. in Management is
an expansion of our portfolio of first-class
management programs in response to the
demands of the market.”
Professor Dr. Arnis Vilks, Dean of HHL
“We have an excellent track record in
planning and running part-time Master’s
programs – and when it comes to teaching,
we can call on internationally renowned
professors and experts from the business
Professor Dr. Henning Zülch, Academic
Director of HHL’s M.Sc. Programs
Wide-ranging specializations
Aside from academic and specialized skills,
the Master’s program fosters personal development. HHL places particular emphasis on
soft skills such as problem-solving, negotiation and intercultural skills.
The program, which is eligible for funding
through the European Social Fund (ESF), is
also an excellent basis for developing networks, not just among the students themselves but with HHL’s alumni around the
p. 20
Companies which enable their employees to
study in parallel to their jobs find themselves
in a win-win situation. They are directly involved in the development of the next generation of their own managers, and it is well
known that long-term personal qualification
always has a motivational effect among staff.
The part-time M.Sc. Program is also an effective way of improving performance and
staff retention. The company benefits from
the development of the employee’s management skills and also from the transfer of specialized knowledge that takes place while the
employee is actually on the program.
Interview with alumnus Hubertus Scherer
Update from the Alumni Office
Research & Programs pp. 22-43
News from HHL’s Master programs
Interview with Professor Dr. Christian Zielke
Field projects
HHL’s Doctoral Program
Teaching abroad in China
Exchange programs continued
Faculty research activities
pp. 44-46
1st European MBA Career Fair
Placement Statistics of the Diploma program
2nd HHL Start-up Career Fair
HHL’s entrepreneurs
pp. 47-48
Interview with MBA student Jared Cardon
HHL staff news
Application deadlines
Upcoming events
“With its [email protected] program, IBM
Deutschland offers top Bachelor graduates
the opportunity to complete a part-time
Master program, and qualifies its promising
young employees for managerial positions
within our company in the course of their
studies. It is therefore very important for us
that the course content and the teaching
methods are practice-oriented, i.e. that not
only the specific theoretical knowledge is
conveyed, but also key competencies that
can be applied directly on the job. Due to its
outstanding reputation in business administration we have chosen HHL as one of our
partners for our [email protected] program.”
Harald Pröger, Student Pool Manager
HR Marketing / IBM Deutschland
“For me, HHL’s part-time M.Sc. Program
offers the chance to create synergies
between my job as a consultant in the field of
energy and qualifying myself in theoretical
management skills. This relatively new and in
Germany almost unique concept allows me to
put an interactive focus on learning in a
stimulating atmosphere and to avoid the
disadvantages of full-time distance learning.
Moreover, the widespread HHL network
provides me with valuable contacts.”
Adrian Bründl, consultant in the energy
sector, student in the part-time M.Sc.
Program starting January 2011
Volker Stößel
HHL News – SUMMER 2010
Join one of HHL’s shareholders:
the Gesellschaft der Freunde der HHL – GdF
The Board of the Association of Friends of HHL
From left to right: Dr. Stephan Stubner, Hans Christoph
Poppe, Professor Dr. Bernhard Schwetzler, Dr. Burkhart
Eymer, Frank Stelzner, Professor Dr. Hans Göschel,
Peter Dorsch
GdF, or the Association of Friends of HHL, was
originally founded in 1922 in order to support
the Handelshochschule during the economic
crisis after the first world war, and was liquidated by the authorities 27 year later in 1949 for
political reasons. After the reunification of Germany, the GdF was revived in 1991 and played
an important role in the re-foundation of HHL.
Its sole aim was and still is to promote and support teaching, research and academic development at HHL. In practice, this means regular financial support but also an annual award for the
top student of each class, the research award
for young scholars, and contributions to scholarships from Beta Gamma Sigma (BGS) and
DAAD, for instance.
As membership fees are the main source of revenue for the association’s activities, every new
member recruited increases the GdF’s capacity
to contribute to HHL. We would be delighted to
welcome you as a member, either in a personal
capacity or as a representative of your company. The annual membership fee is EUR 130 for
individuals and EUR 1,300 for companies and
E-mail: [email protected]
Phone: +49 341 9851-635
Fax: +49 341 9851-823
Professor Vilks new HHL Dean
Professor Dr. Arnis Vilks took over the interim
academic leadership of HHL on April 1, 2010,
succeeding Professor Dr. Hans Wiesmeth
whose term of office ended as scheduled on
March 31 (see HHL news Winter 2009/2010,
p. 3). On taking up his duties, Professor Vilks announced that he intended to continue to pursue
the strategic plan “HHL 2020” drawn up under
his predecessor and designed to take HHL into
the top ranks of European business schools by
the year 2020. The goal is to double student
numbers, expand teaching capacity accordingly
and increase the number of competence cen-
ters. Vilks said, “We are working on enlarging
the range of programs we offer.” He announced
that the first students will be enrolled in the new
part-time Master Program in January 2011, and
that the Center of Corporate Governance at
HHL, which was founded this spring is currently
seeking a Junior Professor.
Vilks, who has held the Chair for Microeconomics at HHL since 1995, is also looking to
expand HHL’s cooperation with companies in
the region and beyond, and will maintain the
school’s high profile in the international arena.
Farewell to Professor Wiesmeth
Professor Dr. Hans Wiesmeth (right) and
James Downs (M10)
On April 1, 2010, after five years as Dean of HHL,
Professor Dr. Hans Wiesmeth returned to the Chair
of Economics at the Technical University Dresden
(see also: HHL news – Winter 2009/2010, p. 3).
Professor Wiesmeth officially bade farewell to HHL
on March 29, 2010 at an event attended by
students, staff, faculty and representatives of
HHL’s shareholders, supervisory and advisory
bodies, partners and friends who all took the
opportunity to thank him for his achievements
and hard work on behalf of HHL. The centerpiece
of the occasion was Professor Wiesmeth’s lecture
entitled Decision-Making Mechanisms in the EU:
a Formal Analysis. At a reception afterwards, HHL
staff presented Professor Wiesmeth, a keen cyclist,
HHL News – SUMMER 2010
with a cycling shirt and jacket printed with the HHL
logo. One of the highlights was the music; both the
audience and Professor Wiesmeth were touched
by the performance given by a choir composed of
HHL students and staff, ably conducted by M10
student Tobias Wolff and accompanied on the
keyboard by Dr. Evelyn Kästner. They sang an
adaptation of the Udo Jürgens’ song Ich war noch
niemals in New York, rewritten by Daniela
Neumann and Simone Panten. In reference to
the numerous business trips made by Professor
Wiesmeth during his time as Dean of HHL, the
choir sang: “Oh, I have never seen New York, oh,
I have never seen Hawaii, travelled to Moscow,
Dallas, Tbilisi and Paris. Oh, I have never seen
New York, had hardly any time for me, flying
around the world on duty as a dean.”
New Center for Corporate
Governance established
Christian Strenger
ACQUIN accreditation granted to
HHL’s part-time M.Sc. Program
HHL is extending its portfolio of innovative
academic programs with a new part-time Master
Program in Management (M.Sc.). Developed in
consultation with important stakeholders over
the past two years, it has now undergone the
accreditation process in accordance with the
German regulations, which began with the
submission of the self-documentation in
November 2009. After the visit by the peer
review team in April 2010, the renowned
accreditation agency ACQUIN (Accreditation,
Certification and Quality Assurance Institute)
gave the program its seal of approval in June
2010. Thus another important hurdle has been
cleared towards the next milestone in HHL’s
growth strategy; the first part-time M.Sc. class
will be enrolled in January 2011.
ACQUIN was impressed by HHL’s openness and
flexible incorporation of constructive suggestions
and helpful advice provided by the peer review
team. Congratulations and special thanks go to
all HHL faculty, students and staff who helped to
convince ACQUIN of the sustained academic
quality of our new part-time Master Program in
Sandra Miersch
The next element in HHL’s growth strategy
has been established this summer with the
new Center for Corporate Governance at
HHL. The new center’s directors are Chris­
tian Strenger, member of the German Government Commission on Corporate Governance and of numerous supervisory boards,
and Professor Dr. Bernhard Schwetzler,
­holder of the Chair of Financial Management
at HHL. Corporate Governance is from now
on a major feature of all HHL Master Programs.
Christian Strenger explains: “Apart from academic excellence, international cooperation
partners are key in realizing the goals of the
Center. For instance, the Millstein Center for
Corporate Governance and Performance of
the Yale University has agreed to collaborate
with us in researching performance rele­
vance. In the field of Corporate Governance
development, especially in emerging markets,
we are planning cooperation with the Global
Corporate Governance Forum of the World
Bank/International Finance Cooperation.”
Professor Dr. Arnis Vilks, Dean of HHL, adds:
“This new competence center is a major project within our growth strategy. Corporate
Governance, meaning best practice of corporate management and control of companies is a very important part of our mission
statement – the education of effective and
responsible business leaders. This new center means we do even more in preparing our
students to deal with economic challenges of
the 21st century.”
Supporters of the Center for Corporate Gov­
ernance at HHL are DWS Investment GmbH,
Bertelsmann Business Consulting and
KPMG Deutsche Treuhand-Gesellschaft AG.
Thank you very much – the HHL community
is very grateful for your sponsorship!
Kathrin M. Möslein and Ralf Reichwald
appointed as Research Professors at HHL
Professor Dr. Professor h.c. Dr. h.c. Ralf Reichwald and Professor Dr. Kathrin M. Möslein
At a festive event on February 4, 2010, HHL
appointed Professor Kathrin M. Möslein,
Friedrich-Alexander University of ErlangenNuremberg, and Professor Ralf Reichwald,
Technische Universität München, as Research
Professors in recognition of their achievements
and dedication to research and teaching.
Professor Dr. Hans Wiesmeth, HHL’s Dean at the
time, said: “These two outstanding scholars
have an excellent reputation both within and
beyond Germany’s borders; their incorporation
HHL News – SUMMER 2010
into our faculty honors us and sharpens HHL’s
profile as a practice-oriented research business
school. Furthermore, Kathrin M. Möslein and Ralf
Reichwald actively support HHL’s development
strategy “HHL 2020” by procuring significant
amounts of funding in the form of research
Both professors are Academic Directors of HHL’s
Center for Leading Innovation & Cooperation
(CLIC), which they founded in 2006 together with
Professor Anne Sigismund Huff, Ph.D.
Successful: HHL’s International
Entrepreneurship Program
From left to right: Felix Schäfer, Markus von Ludowig
and Erik Pfannmöller (all K23) won the Grazia Equity
Award 2010.
Not only is HHL Germany’s oldest business
school, it is also one of the most entrepreneurial: over 90 start-ups have been founded
or co-founded by HHL graduates in the last
eleven years alone. Dr Stephan Stubner is the
Academic Director of HHL’s International Entrepreneurship Program and so is at the very
core of HHL’s entrepreneurial training. He
says: “We try to stimulate students’ entrepreneurial spirit through the material we use in our
courses and through interaction with role models. We have a specialization called “Entrepreneurship”, and a good 90 percent of students opt for it.” The big finale of the
Entrepreneurship course is a business plan
seminar that takes place under the patronage
of Uwe Albrecht, Leipzig’s Mayor for Business,
Economy and Employment. As the seminar
provides such an excellent platform for the exchange of knowledge between the school and
Germany’s most satisfied
students study at HHL
HHL was again able to secure the top spot in a recent
ranking on student satisfaction. Over 20,400 students
from over 100 universities in Germany were surveyed
by Universum Communications regarding their study
experience, job preferences, and career prospects.
IHK promotes joint projects
between companies and
businesses in the region, the Leipzig Chamber
of Industry and Commerce (IHK zu Leipzig)
awarded it funding for a special project in
2010. Stubner says: “We also invite academics from outside HHL to the seminar; they
come and develop business plans together
with our students. The students have to present their business plans under realistic conditions and are then given feedback by a jury
composed of entrepreneurs, investors and
The program also cooperates with other ini­
tiatives within HHL and at the University of
Leipzig, such as smile.medibiz, which offers
coaching and advice on funding. Stubner:
“We regularly invite not just entrepreneurs,
but also investors and other players in the
start-up scene to come and talk about their
experiences.” The budding entrepreneurs are
supported through coaching sessions and by
integrating them into HHL’s networks; this
continues even after they have started up their
business. For example, Stubner organizes reg­
ular meetings between students, HHL lectur­
ers and new businesses that are already up
and running, so they can talk about business
Contact: [email protected]
On January 27, 2010, Leipzig’s universities and
the Leipzig Chamber of Industry and Commerce
(IHK zu Leipzig) signed a total of 13 cooperation
agreements during the “Business Meets
Academia” event. This year, the IHK will provide
EUR 120,000 to support closer links between
teaching and practice. The IHK would like to
encourage the transfer of research results into
the business world and make experience from
business practice accessible to universities.
The motivation behind the initiative, which has
now been organized seven times by the
chamber, is the reluctance of companies to
engage in research and development. This year,
HHL will receive support for a business plan
seminar it is organizing in collaboration with
external providers of ideas.
HHL students win 3rd prize in
Postbank Finance Award
The MSc4 students Adrian Graf, Christian Hetke,
Hendrik Krawinkel, and Christian Rosenkranz have
been awarded 3rd prize in the prestigious Postbank
Finance Award. With the valuable support of the Dr.
Werner Jackstädt Chair of Economic and Business
Ethics, the students developed a compensation system
for bank advisors and their managers, which sets
customer satisfaction as a basis for a salary award.
The 3rd prize is worth EUR 10,000 and goes partially to
the students as well as to the chair.
HHL News – SUMMER 2010
HHL has successfully strengthened its
position among the top MBA programs
in the world. In its most prestigious
ranking in Latin America, the business
magazine AméricaEconomía puts HHL
in 36th position – a leap of 10 places
compared to the 2009 ranking.
(AméricaEconomía, June 2010)
A cooperation for mutual advantage
“Responsible Leadership” is the objective
shared by HHL and the Wittenberg Center
for Global Ethics (WCGE). The Center was
founded in 1998 by Hans-Dietrich Genscher, former German Foreign Minister, and
Andrew Young, former US Ambassador to
the United Nations, with the mission to furnish current and future decision-makers in
business, politics and society with solid ethical competencies. In the light of the everwidening debate about the profit motive, the
moral aspects of the market economy and
the conditions of fair global competition,
there is a growing need for ethical focal
points: How can today's decision-makers
act responsibly in their day-to-day activities,
and how can responsibility be organized in
complex environments such as companies?
The fundamental difference between the
WCGE's work and that done by other, similar institutions is the Center’s academic approach. Seminars, dialogs and international
projects are developed on the basis of sound
theoretical concepts and economic ethics.
At the very heart of the approach is the idea
of social cooperation for mutual advantage,
and this is also at the core of the co-operation between the WCGE and HHL; research
and practice complement each other and
profit from one another. For example, a Sum-
The Wittenberg Center for Global Ethics (WCGE)
mer School entitled “Ethics in Global Leadership” was organized by the two institutions in
2008 and attended by young leaders from
several African states. At the Welcome Day in
fall 2009, companies and the social partners
in the chemical industry presented the steps
undertaken so far in the framework of the
“Wittenberg Process” overseen by the
WCGE. In early 2010, M.Sc. students from
HHL investigated the complex of topics encompassed by corporate responsibility, job
reductions and public perception as part of a
field project arranged by the Center.
The motors behind the cooperation between
WCGE and HHL are HHL faculty members
Andreas Suchanek and Arnis Vilks. As members of the WCGE board, they themselves
are links between research and practice and
between both institutions’ networks. Professor Dr. Suchanek says, “Responsible Leadership needs ‘everyday’ ethics, and that is
something that can emerge only from a continuous dialog between theory and practice.”
Martin von Broock
with Professor Schwenker
On Monday May 10, 2010, HHL hosted the
SPIEGEL-Gespräch – live in der Uni orga­nized by Germany’s leading weekly magazine DER SPIEGEL. Professor Dr. Burkhard
Schwenker, CEO of Roland Berger Strategy
Consultants, talked about “The Perfection
Trap – the over-optimized CV.” The pressure
on students is enormous – and in economically challenging times, it continues to rise.
Many students therefore have only one goal,
and that is to secure, without detours if possible, a top job. Life is subjected to creation
of the perfect CV. Instead of staying out at
wild parties, students stay overnight in the library. One internship follows the next. But
HHL News – SUMMER 2010
don’t interest in the subject, deeper engagement with the material and personal development suffer? And don’t students need not
just an above-average final degree, but also
creativity and the ability to think innovatively
in the modern working environment?
In a packed lecture theater 110, HHL’s honorary professor talked with the SPIEGEL
journalist Susanne Amann about a topic
which is discussed widely nowadays. Professor Schwenker not only gave his personal
view on the issue but also highlighted the
opportunities and risks of the current myth of
the need to optimize.
Ab sofort im App Store
Apple, iPad und App Store sind Marken der Apple Inc.
Apple schreibt mit dem
iPad Geschichte. Und wir die
Geschichten dafür.
4x täglich aktualisiert, multimediale Aufbereitung, 30 Tage kostenlos testen.
Die WELT für das iPad. Immer top-aktuell – ganz gleich ob morgens, mittags,
nachmittags oder abends. Mit großen Bilderstrecken und den neusten Videos –
gemacht für das iPad und eine neue Generation des Lesens. Viel Spaß!
HHL News – SUMMER 2010
Oliver Voss
Shape the future by promoting excellence now
Professor Dr. Dr. h.c. mult. Heribert Meffert:
“Strengthen the education of effective and
responsible business leaders”
Supporters of HHL 2010
(EUR 100,000 and more)
Chamber of Commerce and Industry 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, Leipzig
Roland Berger Strategy Consultants GmbH,
Stadt- und Kreissparkasse Leipzig
(EUR 25,000 and more)
Academic Society for Marketing and
Business Leadership, Leipzig
Bertelsmann Business Consulting, Gütersloh
DWS Investment GmbH, Frankfurt/Main
Gudrun Demling, Bavaria
KPMG AG, Berlin
Peter Pribilla Foundation, Munich
Sachsen Bank, Leipzig
Uniplan GmbH & Co. KG, Cologne
HHL is confident it is on track for a great
­future. By announcing an endowment of
EUR 1 Million to the HHL’s Kramer Foundation in 2007, Deutsche Bank AG initiated the
first steps of HHL’s fundraising program and
laid the foundation for growth. As the list of
supporters below shows, numerous individuals, companies and foundations have fol­
lowed the great example of the bank. Professor Dr. Dr. h.c. mult. Heribert Meffert, member
of HHL’s fundraising team and former HHL
Dean from 1995 to 1998, says: “We invite
companies, foundations and private persons
to play a significant role in helping HHL do
what it does best: provide an excellent
­management education for tomorrow’s
­effe­ctive and responsible business leaders.
Support the success of HHL and its aim to
double the number of students, and to
strengthen faculty and research.” Professor
Dr. Arnis Vilks, Dean of HHL, adds: “Over the
past years HHL graduates with innovative
business ideas have founded more than 90
future-­oriented companies and thereby cre­
ated over 1,500 new jobs. HHL’s fundraising
activities show specific steps how one can
shape the future by promoting excellence
now.” If you would like to hear more about
our fundraising ­program and the many ways
in which you can support HHL (not only financially), please get in touch with Ulrike Maria
Dienemann via E-mail: [email protected] or phone: +49 341 9851-618
Your personal way to support
HHL – our new brochure
Would you like to support HHL and its successful education programs for tomorrow’s
business leaders but you don’t know what
your options are? A new brochure will give
you a better overview. You can choose your
individual way to express your commitment.
It also informs you about how you can benefit from supporting us. If you would like a
brochure or want to know more about HHL,
please contact us directly.
Ulrike Maria Dienemann
Head of Business Development
Phone: + 49 341 9851-618
Fax: + 49 341 9851-711
E-mail: [email protected]
We would like to express our deep appreciation to all our financial partners.
(EUR 10,000 and more)
Association of Friends of HHL, Leipzig
Bayer AG, Leverkusen
BASF SE, Ludwigshafen
Bertelsmann AG, Gütersloh
Booz & Company, Munich
CMS Hasche Sigle, Berlin
Dr. Horst Saalbach, West Palm Beach, Florida
Duff & Phelps GmbH, Munich
Ernst & Young Foundation, Stuttgart
Henkel KGaA, Düsseldorf
KARL KOLLE Foundation, Dortmund
MLP Finanzdienstleistungen AG, Heidelberg
Decimus GmbH, Mainz
Robert Bosch GmbH, Stuttgart
RWE AG, Essen
SAM Sachsen Asset Management GmbH, Leipzig
Siemens AG, Leipzig
Stifterverband für die Deutsche Wissenschaft, Essen
SV SparkassenVersicherung Holding AG,
The Boston Consulting Group GmbH, Munich
VNG – Verbundnetz Gas Aktiengesellschaft,
HHL News – SUMMER 2010
Agil Projektmanagement, Erfurt
Arthur D. Little, Wiesbaden
Auerbachs Keller Rothenberger Betriebs
GmbH, Leipzig
BioPlanta GmbH, Leipzig
Brunswick Group GmbH, Frankfurt/Main
BDO Deutsche Warentreuhand AG Wirtschaftsprüfungsgesellschaft, Leipzig
Credit Suisse Limited, Frankfurt/Main
Department for Agriculture, Forestry, Environment and Nature Conservation Thuringa
Detecon Schweiz AG, Zurich
Deutsche Kreditbank AG, Leipzig
Dr. jur. Dr. h.c. Ludwig Trippen, Münster
E. Breuninger GmbH & Co., Stuttgart
eBay GmbH, Berlin
Ernst & Young AG, Frankfurt/Main
Evonik Industries AG, Essen
Franz Haniel & Cie. GmbH, Duisburg
HHL Alumni Association, Leipzig
Hitmeister GmbH, Cologne
Horváth & Partners, Management Consultants,
HUK-Coburg Versicherungsgruppe, Coburg
New HHL Students’ Lounge sponsored
by Sachsen Asset Management (SAM)
was very successful. On June 25, 2010, representatives of SAM and HHL as well as
HHL’s students came together to choose the
concept for the redesign of the students’
lounge. The choice between all ideas was
difficult but in the end architecture student
Markus Fix won the competition. Thanks go
to Susanne Boss and Annika Kirchner who
also showed great ideas. The implementation of the winning design is now being
First prize for the concept by architecture student Markus Fix
Sachsen Asset Management GmbH (SAM) is
sponsoring the new HHL Students’ Lounge.
Wolf-Dieter Ihle, CEO of the company, says:
“SAM is a young company which already
employs three HHL graduates. We want to
take responsibility for our future manager generations. Supporting HHL is the best way to
do this. Students need to relax and to recharge their batteries when they study hard.
The new Student Lounge will be the best
place for that.”
Professor Dr. Arnis Vilks, Dean of HHL,
states, “We are very thankful to have partners
like SAM who show their commitment in
such a creative manner. We also appreciate
the effort of HTWK and their students very
much and hope for further cooperation.
Thank you!”
The design competition for students from
HTWK Leipzig University of Applied Sciences
New staff
Industrial Initiative for Central Germany,
Jenoptik AG, Jena
Keyx GmbH, Leipzig
KIROW Leipzig AG, Leipzig
Mario Körösi, Leipzig
McKinsey & Company Inc., Frankfurt/Main
Mercedes-Benz Niederlassung Leipzig
Merkur Druck- u. Kopierzentrum GmbH, Leipzig
Mister Spex GmbH, Berlin
M.Sc.3, K23, M9 of HHL
Niemanns Tresor, Leipzig
OC&C Strategy Consultants GmbH, Düsseldorf
PETERSEN GRUENDEL, Rechtsanwälte Steuerberater, Leipzig
pluriSelect GmbH, Leipzig
PricewaterhouseCoopers AG, Frankfurt/Main
Procter & Gamble Germany GmbH, Schwalbach/
Public Relations v. Hoyningen-Huene, Hamburg
Q-Cells SE, Thalheim
Rothschild GmbH, Frankfurt/Main
SakostaSKB GmbH, Ziegelheim
Siemens Management Consulting, Munich
Stadtwerke Leipzig GmbH, Leipzig
Taschenkaufhaus GmbH, Leipzig
TDB Prozessautomatisierung Ltd, Bitterfeld
Technologiegründerfonds Sachsen Verwaltungs GmbH, Leipzig
trivago GmbH, Düsseldorf
Volksbank Leipzig eG, Leipzig
Weidinger | Richtscheid Rechtsanwälte,
We also appreciate the commitment of
all sponsors of our students’ initiatives.
Please take a look at the relevant articles
on pages 14-17.
Donations can be made to:
Account name:
Handelshochschule Leipzig gGmbH
Bank: Sparkasse Leipzig
Bank code: 860 555 92
Account number: 100 104 956
IBAN: DE59 8605 5592 11001049 56
Purpose of payment: Spende/Donation
(June 2010)
HHL News – SUMMER 2010
Sandra Wittstock joined HHL in March 2010
as Business Development Assistant
and Assistant to the Kramer Foundation,
supporting Ulrike Maria Dienemann. Prior
to coming to HHL, she worked at Hugin in
the department for IR/PR Workshops and
Seminars. She also has experience in the
media industry, for example at Kinowelt
Leipzig. She was born in Dortmund, and
spent most of her life in Berlin - but is a
“Leipzigerin” at heart. In her leisure time,
she enjoys reading, movies, sports and
new challenges.
Newly structured: HHL’s Kramer Foundation
The Kramer Foundation, the HHL’s foundation and at the same time one of the school’s
shareholders, has undergone some restructuring. Chairman of the Kramer Foundation is
Professor Dr. Georg Milbradt, former Prime
Minister of Saxony. His deputies are Ulrike
Maria Dienemann, Head of Business Development at HHL, and Winfried Pinninghoff,
Managing Director of WIPCONsulting. The
Board of Trustees is the Foundation’s decision-making body. It consists of the Kramer
Foundation’s originator, the Chamber of
Commerce and Industry Leipzig (IHK zu
Leipzig), and representatives of companies
and institutions which have made significant
donations. Sandra Wittstock joined the
Foundation in March 2010 and is the contact
person for all administrative questions.
From left to right: Winfried Pinninghoff, Ulrike Dienemann and Professor Dr. Georg Milbradt
Invitation to 2nd International HHL Manager Golf Cup
Following the success of HHL’s first Manager
Golf Cup in 2009, we would like to invite you
to our next tournament on September 3rd,
2010. The event aims to build and strengthen
our business network. Regional and international business leaders have the opportunity
to show their skills on the Dübener Heide
golf course ( and
also show their commitment to HHL’s successful Entrepreneurship Program. Beside
initiator Dr. h.c. Horst Saalbach, the patrons
of this year’s tournament are Professor Dr.
Georg Milbradt, former Prime Minister of Saxony and Chairman of HHL’s Kramer Founda-tion, Uwe Albrecht, Mayor for Economics
of Leipzig, Christian Strenger, member of the
supervisory board of DWS Investment
GmbH, and Frank Köhler, CEO of TDB Prozessautomatisierung Ltd. The 2nd HHL Manager Golf Cup gives participants and sponsors an attractive opportunity to meet other
managers and entrepreneurs as well as HHL
students who are the future generation of
managers. Dr. h.c. Horst Saalbach says: “I
am proud of what we have created. I have
been supporting HHL for a long time and this
golf cup gives our business school the chance to create new networks and find support­
ers in a relaxed atmosphere. And I am sure
the day will be as successful as it was last
year. We have great plans – please support
this event by attending yourself and inviting
your network, by donating presents for our
tombola or by acting as a sponsor!”
The Manager Golf Cup will start at midday
with a brunch. Following the official tournament, there will be the award ceremony and
the tombola which will hold even more surprises than last year in order to raise funds
for our successful management education.
For further information about the tournament, go to or contact
us directly.
Ulrike Maria Dienemann / Sandra Wittstock
Business Development
Phone: + 49 341 9851-618
Fax: + 49 341 9851-711
E-mail: [email protected]
Research workshop “ServProf”
May 11-12, 2010, the Center for Leading Innovation & Cooperation (CLIC) hosted a research workshop entitled “ServProf – Learn­
ing and Living Service Professionalism” in the
HHL Executive facilities at HHL’s City Cam­pus.
The overall goal of the workshop was to gain
a deeper insight into the main aspects of ser­vice quality and innovation. The workshop’s
discussions focused on the importance of
serv­ice qualification, professionalism, commitment, valuation and pride. Its results will be
published for a broader audience and avail­
able through
Forty-five representatives from fifteen different
projects came together to discuss ongoing
results and to exchange research findings.
Moreover, keynote speeches by Dr. Marcus
Kölling (innovation), Professor Dr. Martin
Baethge (service quality) and Agostino Cisco
(value creation) gave a research overview and
pointed out new findings in the different fields.
CLIC welcomed as a special guest Mr. Hendrik
Vogt, representative of the Federal Ministry of
Education and Research (BMBF).
Impressions from the research workshop
Nicole Horbas and Claudia Lehmann
HHL News – SUMMER 2010
CLIC at the 8th BMBF Services Conference
From left to right: Markus Weigold, Professor Dr. Kathrin Möslein, Junior Professor Dr. Carsten Schultz (winner of the
Young Scientists Competition), Thomas Rachel (MdB), Dr. Stefan Walther, Björn Asdecker (winner of the special prize)
Presenting the projects “ServProf – Learning
and Living Service professionalism”, “Dienstleistungsweltmeister Deutschland”, “SPRINT”
and “ServProd – Service Productivity”, Professor Kathrin M. Möslein, Dr. Marcus Kölling,
Claudia Lehmann and Angelika Pößl took part
in the 8th Services Conference in Berlin. The
conference was hosted by the Federal Ministry of Education and Research (BMBF) and
focused on linking business, science and government with the twin goals of promoting interdisciplinary exchange of research findings
and presenting successful business models.
CLIC’s Academic Director Professor Ralf
Reichwald was once again chairman of the
jury for the BMBF’s 5th Young Scientists Competition, the winners of which were honored in
an award ceremony at the Services Conference. As a result of the irregularities at
airports caused by the Icelandic volcano,
however, Professor Kathrin M. Möslein also
had the honor of speaking in praise of the
winners of the 5th Young Scientists Competition at the award ceremony.
The workshops, panel discussions and presentations held at the conference offered a
platform for national and international experts
to discuss the importance of innovative ser­
vices and their role in meeting economic and
social challenges. A guided tour of the “market
place” introduced visitors to the rich spectrum
of BMBF-funded service research projects.
CLIC presented research results for its projects
in the field of service productivity (ServProd –, innovative services (Dienstleistungsweltmeister –, service professionalism (ServProf
– and the integration of
products and services in the public health
sector (SPRINT –
Nicole Horbas and Claudia Lehmann
New CLIC project “ServProd – Exploring Service Productivity”
In September 2009, CLIC started working on
a new research project. Supported by the
­Federal Ministry for Education and Research
(BMBF), it explores interdisciplinary productivity logics of services and aims to systematically generate knowledge in the field.
Focused writing by the researchers involved
will make sure the discussions in the workshops are captured for a broader audience in
order to foster an ongoing discourse among
different stakeholders in the emerging service
sor Kathrin M. Möslein and Professor Ralf
The initiative is driven by a series of workshops that will investigate the theoretical
foundations, methodological underpinnings
and empirical evidence of service productivity.­
Dr. Marcus Kölling is taking the intellectual
and organizational lead in the initiative, working in close cooperation with CLIC’s Academic Directors Professor Anne S. Huff, Profes-
Dr. Marcus Kölling
E-mail: [email protected]
HHL News – SUMMER 2010
The project is also a member of the Strategic
Partnership on Service Productivity:
Executive Education
General Management Program 2011
The next round of HHL Executive’s General
Management Program (GMP) will run from
January 20 to June 18, 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 by the European Union is
HHL Executive
Jana Studemund
Tel.: +49 341 9851-838
E-mail: [email protected]
Professor Dr. Torsten Wulf (left), Academic Director of the GMP
Modules and Dates
Strategy & Competition
Professor Dr. Torsten Wulf
January 20-22, 2011
Brand Management
Professor Dr. Manfred Kirchgeorg
March 03-05, 2011
Controlling & Finance
Dr. Martin Weiss
May 12-14, 2011
Problem Solving & Projects
Dr. Stephan Stubner
February 10-12, 2011
Leadership & Communication
Maren Lehky
April 07-09, 2011
Business Simulation
Professor Dr. Torsten Wulf
June 16-18, 2011
Corporate Valuation seminar
with Professor Schwetzler
HHL Executive will conduct a 1-day seminar
led by Professor Dr. Bernhard Schwetzler in
cooperation with the German Private Equity
and Venture Capital Association on September 16, 2010. The seminar “Corporate Valuation: Art or Science?” is designed for managers in the areas of investment management
and controlling, M&A, finance and accounting, controlling, business planning and devel­
opment. Furthermore, management consultants, accountants and auditors who deal with
these issues will also be addressed.
The participants will gain insights into the various methods of corporate valuation as well as
their possibilities and limitations for solving
these problems. The fee for this seminar is
EUR 895 plus VAT. If you are interested in registering or would like more information, please
check out the website:
Upcoming programs
Advanced Management Program
Dr. Remigiusz Smolinski
September 16-17, 2010
Strategic Innovation
Dr. Andreas König
November 1-2, 2010
The 2-day modules will take place
in the splendid surroundings of
Schloss & Gut Liebenberg (near
Berlin). The fee for one module is
EUR 1,399 plus VAT.
Professor Dr. Bernhard Schwetzler leads corporate
valuation seminar at HHL Executive
HHL News – SUMMER 2010
Executive Education
PMP® certificate project
management preparation seminar
Today, companies desperately need qualified,
capable project managers for increasingly
complex project issues. The PMP® (Project
Management Professional) certification from
PMI (Project Management Institute) is one of
the best internationally recognized certifications available.
HHL Executive offers a PMP preparation seminar that not only reduces the time required
for the exam, but also provides optimal conditions to pass the demanding PMP® exam
first time. Participants will work through all the
important areas of the exam, including the
project life cycle, project management pro-
cesses, as well as project integration, time
and quality management, and risk management; they will also receive valuable tips for
the exam as well as practice exams. Besides
the PMI reference book, the PMBOK® Guide,­
participants will be given a comprehensive
collection of documents for their individual
Christian Staerk leads
PMP® preparation seminar
The 5-day seminar (in English) will take place
November 1-5, 2010, and will be led by Chris­
­tian D. Staerk (K5), a PMP®-certified trainer
with significant project management experience in Europe and Australia. The PMP®
preparation seminar is designed for project
managers with more than 3 years of project
experience. The seminar costs EUR 2,950
plus VAT.
Euro*MBA: residential week at HHL
The individual courses and events were organized by HHL Executive. Its Managing Director Jana Studemund said: “Content-wise,
the residential week was related to one of the
most discussed topics of our time, namely
“green innovation”, i.e. innovations within the
field of ecological and environmental protection. We discussed key issues with the managers from the viewpoints of marketing,
technology, and sustainability. Valuable impulses were given by guests from enterprises
such as Q-Cells and SunCoal. But the residential week at HHL was characterized not
only by practice-oriented courses - different
social events, such as a visit to the Porsche
plant including a test drive strengthened the
community feeling considerably.”
Changing the tires of an original “Trabbi”,
group skiing or searching together for historical objects of interest in the city – the residential week of the Euro*MBA Program kicked
off with an unusual kind of paper chase for
47 participants on the weekend of January
9-10, 2010. The Euro*MBA is an innovative,
two-year e-learning-based executive program that combines the latest distance learning technology with concentrated residential
weeks at six European sites.
The residential week in Leipzig formed the
prelude for 13 participants in the new class.
At HHL they met fellow students who have
already been studying for a few months. The
average age of the participants was 37; they
possessed on average 11 years of professional experience and came from 20 different
countries. But the weekend was not only the
introduction event for the “newcomers” - the
residential week for the two other Euro*MBA
classes was also run in parallel.
Volker Stößel
The application deadline for the Euro*MBA
Program starting in January 2011 is
November 15, 2010.
News about the latest
scientific stories, research projects,
public events, and new developments at HHL
HHL News – SUMMER 2010
Record participation at XIV European Ivy League
Organized autonomously
by HHL students, the
motto for the XIV European Ivy League was
Champions” and it continued the tradition of
providing an excellent
opportunity for networking among alumni and
HHL’s cheerleading team
The 14th edition of the European Ivy League
soccer tournament ended on May 16, 2010,
after a weekend that saw record participation
levels. A total of 44 teams from Europe’s top
business schools took part, with the teams
from the University of Economics in Bratislava
emerging victorious.
The cup in the men’s
and the women’s soccer tournaments as well
as in the cheerleading
competition went to the
teams from the Ekonomická Univerzita v Bratislave. The list of participating teams reads like a Who’s Who of
European business schools and includes
GISMA Business School, WFI Ingoldstadt
School of Management, and Mannheim Business School (all Germany), Higher School of
Economics (Russia), Università dell’ Insubria
(Italy), Rijksuniversiteit Groningen (Nether-
HHL Energy Club
HHL recently founded the Energy Club, an
initiative bringing together students and energy companies. Events organized by the
club include workshops with energy experts
(e.g. from Roland Berger Strategy Consultants and VNG) and company visits (e.g. to
EEX) providing a forum for discussing energy-related topics. The initiative is fully managed by students with support coming from
the Chair of Strategic Management and Organization. The club’s overall purpose is not
only to get its 40 affiliated HHL students excited about energy topics, but to promote
HHL as part of the city of Leipzig’s wider initiative to establish a leading energy cluster.
HHL News – SUMMER 2010
lands) and Regent’s College London (U.K.).
Organizer Laura Berg (MSc4) said, “We are
particularly proud of the fact that, even in these­
economically difficult times, we were able to
significantly increase the number of teams
participating in Europe’s most important soccer tournament for business students.”
The main sponsor of XIV European Ivy
League was again BASF, continuing the tradition of many years. HHL is also very grateful to Bäckerei Göpfert, Coca Cola, Corps
Lusatia, Ernst & Young, Fitness First, HHL
Alumni Asscociation, idbeer, Jägermeister,
Mercedes-Benz Niederlassung Leipzig, PricewaterhouseCoopers (PwC), Procter&Gamble,
Roland Berger Strategy Consultants,
Schwar­tau,, Subway, Technologiegründerfonds Sachsen (TGFS), Xenofit as
well as Wiesenberger Salami for their support of this highlight of the HHL calendar.
Save the date! The XIIV European Ivy League
will take place in Leipzig June 3-5, 2011.
Volker Stößel
Chapter member to be awarded 2010
Beta Gamma Sigma Scholarship
As one of only three AACSB accredited business schools in Germany, HHL hosts one of
two German chapters of Beta Gamma Sigma (BGS), the world's first truly global honor
society in business. Membership is increasingly recognized as a mark of academic excellence, and every year the chapter invites
the top 20 per cent of graduates from HHL’s
programs and all who have completed HHL’s
doctoral program to become members.
In 2008/09, HHL’s BGS chapter was named a
Premier Chapter for the third time. As a result,
the chapter was entitled to nominate one of its
members for the BGS Scholarship Program.
During the graduation ceremony on July 24,
2010, the 2010 Beta Gamma Sigma scholarship was awarded to Oliver Ehrlich, external
doctoral student at the Department of Mar-
keting Management at HHL. This scholarship
amounts to USD 1,000 and is funded jointly
by the BGS Central Office in the USA and the
A truly exceptional personality
In his recommendation, Professor Dr. Manfred Kirchgeorg, HHL faculty member and
the nominee’s Ph. D. advisor, mentions Oliver
Ehrlich’s outstanding grades and his commitment to extra-curricular student initiatives.
Mr. Ehrlich has developed an empirical research design for his Ph. D. project, for which
he applies sophisticated multivariate analysis
tools. Furthermore, he contributes significantly
to a culture of discussion in the doctoral colloquia. In his professional experience as a
consultant, Mr. Ehrlich has developed leadership skills as a team player and a moderator.
Furthermore, Oliver Ehrlich plays an invaluable role as a member of the Wissenschaftliche Gesellschaft für Marketing und Unternehmensführung (Academic Society for
Marketing and Business Leadership). He is
also the leader of a rock band!
We would like to thank the Association of
Friends of HHL (GdF) for co-financing this
scholarship, thus rewarding both the academic performance and the social commitment
of one of our chapter members. HHL’s BGS
chapter and the entire HHL community
warmly congratulate Oliver Ehrlich on his nomination for the BGS scholarship.
Beate Kanheißner
[email protected]
New members to be inducted into HHL’s BGS Chapter in 2010
HHL’s Chapter of Beta Gamma Sigma now totals 240 life members.
The names of the 40 newly inducted members of the Beta Gamma Sigma chapter at HHL
were read out at the 2010 graduation ceremony:
“Bottles for Charity” allowed 400
children to enjoy a summer vacation
event. Six weeks long Lucretia Löscher
has collec­ted over 1,000 returnable
bottles from the HHL community for her
campaign “Bottles for Charity”. On July
2, the K23 student handed over a check
worth EUR 400 to the organizers of the
Leipzig-based summer vacation event
“Stadt in der Stadt” (City in the City).
Thanks to this donation, 400 children
from needy families had a free day of
play and being creative.
Adarsh Adula
Konrad Assig
Jan Friedrich Auras
Marcus Baumbach
Lennart Bösch
Mathias Bosse
Kristin Büttner
Christina Dier
Hanns-Christian Ehret
Dr. Lutz Ellermann
Benedikt Ernst
Dr. Daniel T. Fischer
Dr. Andreas Fuchs
Shabal Goel
Dr. Dennis Häckl
Christian Hoffmann
Dr. Kathrin Regina Jung
Shilpa Kataria
Florian Kielhorn
Jennie Jill Lee
Doctoral program
Doctoral program
Doctoral program
Doctoral program
Doctoral program
Paul Martinez
Dr. Regina M. Neubauer
Benjamin Neumann
Erik Pfannmöller
Andreas Preller
Jens Reinstädt
Harald Rothe
Christin Rudolph
Bernhard Särve
Sebastian Sager
Achim Schäfer
Johannes Schoen
Clemens Schülke
Marcus Schulte
Frank Sonne
Karl-Maximilian Strobel
Punit Kumar Tiwari
Friedhelm Wachs
Tobias M. Wolff
Dr. Martin Wünsch
Doctoral program
Doctoral program
Follow the HHL Library on twitter!
Library news and useful search tips
HHL News – SUMMER 2010
The Negotiation Challenge (TNC)
attains new heights in 2010
Winner of this year's “The Negotiation Challenge” (TNC): University of California Hastings College of the Law.
From left to right: Professor Dr. Kurt Biedenkopf (Former Prime Minster of Saxony and Honorary Doctor of HHL),
Ryan Canningham, Christoffer Lee, Timothy Crawley (all from the University of California Hastings College of the
Law), Dr. Judith Marquardt (Chancellor of HHL)
“That was simply unbelievable,” said one of
the participants in TNC, the negotiating com­
pe­ti­tion held annually in Leipzig hosted by
HHL, which this year was held March 11-14,
2010. “The venues were exciting, the talent of
the competition was world class, and the level
of organization was impressive.” In the thrilling
final in the historic main courtroom of the Federal Administrative Court in Leipzig, the team
from the University of California Hastings eked
out a narrow victory over a strong team from
IESEG School of Management from France to
earn the title “World Champions of Negotiation.” To earn the title, the Californians had to
fight through 4 qualifying rounds against 11
other teams from around the world. The
teams came from Aarhus Business School
(Denmark), Alfa University Belgrade (Serbia),
Belarus State University (Belarus), HHL –
Leipzig Graduate School of Management,
and ­Bucerius Law School/WHU (both Germany), IESEG School of Management
(France), Univer­sity of California Hastings
College of the Law, Harvard Law School, and
Georgetown Law (all U.S.A), University of Bologna (Italy), National Law In-stitute University
Bhopal and National Law School India Bangalore (both India).
One scintillating aspect of this year’s competition was that the topics of negotiation were
specific to the venues in which they were
held. This included an historical 17th century
roleplay in the Moritzbastei, the dungeon of
an old castle, and a sports contract nego­
tiation in Leipzig’s central stadium. Other
venues­ included the Leipzig Opera House,
where the participants were treated to a prenegotiation performance of opera arias.
[email protected] launches
workshop series
Founded in 2000 by HHL students,
[email protected] is one of the first German
initiatives to foster entrepreneurship at universities. It is entirely run by M.Sc. and MBA
students from various educational and
international backgrounds. The participants
engage in different activities such as conferences, round tables, on-site visits to start-ups,
case studies, business plan competitions and
regular discussions on current entrepreneurial
issues. The events are strongly supported by
both HHL’s Chair of Strategic Management and
Organization and by practitioners from the entrepreneurial scene. One of the most recent
undertakings is the workshop series [email protected]
HHL which offers HHL students as well as
external participants the opportunity to expand
their networks and their entrepreneurial
knowledge in the field of start-up financing,
entrepreneurial marketing, and growth management. The events are supported by industry
experts who offer an authentic view
of the real world of entrepreneurship.
Christian Hetke (MSc4)
The success of this year’s event was due to
the hard work of the students in the TNC project
team, HHL faculty & staff, key judges from
around Europe and generous support from
TNC’s sponsors, the law firm Weidinger Richtscheid, the HHL Alumni Association and PR
agency Public Relations v. Hoyningen-Huene
(PRvHH). Save the date! The next TNC will be
held March 11-13, 2011.
James Downs (M10)
Congratulations to the M10 students (from
left to right) Murielle Gagnebin, Tobias Wolff,
and Fatima El-Khatib as winners of the
­Warsaw Negotiation Round 2010.
May 14-17, 2010, the team successfully
showed their negotiation skills at the
Warsaw Business School. Other competing
teams came from Poland, the U.S.A.,
Sweden, the Czech Republic, India,
Slovakia, Belarus, and Croatia.
HHL News – SUMMER 2010
The negotiation “cook book”
Every day we all negotiate. But do we really
know what distinguishes the smart bazaar
stall holders from a skillful diplomat? HHL
provides the secret recipes of negotiation in
courses given by HHL alumnus Dr. Remigiusz (Remi) Smolinski. The MBA class P5 recently enjoyed two weekends of intensive
introduction to the methods and techniques
of negotiation.
Negotiation and cooking are similar: before
enjoying a meal, you need to prepare it. Dr.
Smolinski’s cook book recommends “Principle-based Negotiation,” also known in Eu­
rope­­ as the “Harvard method.” This integrative approach to negotiation, described by
Roger Fisher and William Ury in their wellknown book “Getting to Yes,” focuses on
creating value for all parties in a negotiation.
Every step of the theoretical foundations
­presented by Dr. Remi Smolinski was
backed up by practical exercises: MBA students
role-played negotiations for a multifeatured
luxury automobile called a Mustbach, an airport extension in Hamburg Finkenwerder
and a wage tariff dispute in a steel company.
Soon after starting the negotiation process,
the students forgot it was only an exercise
and got really involved.
Six students in the MBA class
P5 and 12 further students at
HHL decided to dive even
deeper into the matter and
took part in an internal negotiation competition among
HHL sudents run by Dr. Smolinski. He was supported by
Alberto Chullen and Ekaterina­
Demidova from HHL’s Chair
of Economics and Information­
Systems who wrote two new
cases and also supported
the internal competition.
From left to right: Clemens Schülke, Christina Dier, Johannes Schön
James Downs (M10) and his
(all P5), Philip Meißner (M8, TNC coach)
team­of fellow students made
the whole event possible thanks to their great
and create a competitive advantage by also
organiza­tional­ efforts. The MBA P5 team
extending its research program to investigate
Chris­tina Dier, Johannes Schön, and Clemens
this subject. Unlike in the U.S.A., very few
Schülke won the exciting neck-and-neck race
(business) schools in Europe focus on negotiand represented HHL in the international TNC
contest three weeks later, supported by Philip
Meißner (MBA graduate, participant TNC 2008
Although we already unconsciously knew
and TNC coach since 2009).
and were applying some of the negotiation
tips, Dr. Smolinski made the mechanics visiIn my opinion, the negotiation course is one
ble and provided a useful framework for conof the most powerful in the MBA curriculum
ducting negotiations in future.
because it applies directly to every one of us
Clemens Schülke (P5)
in our everyday lives and at work. HHL has
the chance to further enhance its reputation
1st HHL Students’ Golf Trophy – swing your club and enjoy
the perfect weather
to demonstrate their
proficiency on the
fairways and greens.
In addition, 21 students participated in
the taster session
and enjoyed their first
experience with clubs.
New friendships were
made in a relaxed atmosphere, HHL stories were exchanged
Organizers and trophy winners: Benedikt Billmann, Philipp Joas, Lea Bolz, Philip
shared. After the
Rode (from left to right)
tournament, the parOn April 24, 2010, the first HHL Students’
ticipants met other students, doctoral
Golf Trophy took place at the 1st Golf Club
candidates and professors for a barbecue in
Leipzig. Alumni and both current and prothe inner courtyard at HHL. The evening’s
spective HHL students took advantage of
highlight was the award ceremony during
HHL News – SUMMER 2010
which the winners of the trophy and the
taster session were duly acclaimed. The
event was judged a great success by all
participants and supporters. As a result, we
are happy to offer 11 international students a
proficiency license course in cooperation
with 1st Golf Club Leipzig. Everybody is
already looking forward to next year’s event
which will take place in April 2011.
HHL is very grateful to 1st Golf Club Leipzig,
Bertelsmann AG, BIHOPHAR, Cleveland Golf,
Drei Gürteltiere, Götz Ponater, Schwarze Dose
28, Wein Rieder for their sponsorship of this
event. For further information, join the HHL
Students’ Golf Trophy Facebook group or
Philipp Joas and Benedikt Billmann (both MSc4)
HHL news presents a selection of incoming
exchange students and asks them:
A What is your favorite place in Leipzig?
B For you personally, what was the most outstanding thing about your time at HHL?
Hsu-Liang Nien,
National Chengchi University,
Taipeh, Taiwan
Vigdís Sif Hrafnkelsdóttir,
Reykjavik University,
Reykjavik, Iceland
Antoine Cretenet,
Audencia Nantes School of
Management, Nantes, France
A Together with my two daughters (in the
picture: the two girls on the left) who also
stayed here with me for two months, I
discovered many beautiful places in Leipzig
and experienced the friendliness of the city.
Our favorite places were all the beautiful
parks, of which there are unusually many in
Leipzig compared to other cities of the
same size in my experience. We loved
spending the afternoons walking and
playing in Clara-Zetkin-Park. Spending a
day at Leipzig Zoo and another day at
Belantis are just two examples of the
adventurous time we had.
B Despite the ash from Eyjafjallajökull,
which affected millions of travelers around
the world, our family’s traveling plans were
not affected to any extent. Instead of
traveling home for an exam, my older
daughter was able to take it here in Leipzig
with the assistance of HHL, thereby saving
us a lot of trouble. Being an exchange
student at HHL has been a great experience for which I am very thankful.
A The Gottschedstrasse is definitely one of
my favorite places in Leipzig. Pretty well
known by HHL students, the Ducktail pub is
a great place to recover from busy weeks!
It is here that I enjoyed my very first German
B Coming from France, you might think that
studying here at HHL is not such a big
change for me. I would have to say that
you’re wrong! The architecture of Leipzig
buildings, the way of life, the open-minded
German way of thinking reminds me that I’m
a foreigner here in Germany. People are
friendly, and talk easily about everything. I
was also completely astonished about the
level of English of German people in general.
I certainly had some good times and will not
regret my choice of HHL. Of course, you
also have to work hard, but the atmosphere
among the students is really friendly and
means you don’t count the hours you’ve
worked. I’m really grateful to all HHL
students for their welcome, and I’m already
looking forward to coming back again.
A Leipzig is a very convenient city. Although
it’s not as big as other international cities, I
can live better here with a higher living
standard. The summer in Leipzig is very
beautiful with all the green places and parks.
I can walk along the riverside near HHL,
enjoying the sunshine in the afternoon.
B HHL is a small but all-in-one graduate
school where I can learn much from the
knowledgeable teachers and talented
students in any class or group discussion.
I’d also like to thank the HHL faculty for
organizing the courses. HHL is a really
rewarding place to study!
Paul Gert Reimers,
Universidad de Chile,
Santiago de Chile, Chile
A My favorite place in Leipzig is the city
forest (“Wildpark”).
B I enjoyed the university city life style. It’s
safe, not crowded, not polluted and there
are a lot of international students to meet
and get to know.
ZOO Leipzig
HHL News – SUMMER 2010
Devaki Menon,
Asian Institute of Technology,
Bangkok, Thailand
Yeny R. Malaver,
The Tuck School at Dartmouth
College, New Hampshire, USA
Alexandra Chernova,
MIRBIS, Moscow, Russia
A My favorite place in Leipzig is the
restaurant Auerbachskeller and the cafe
Mephisto. The cakes at the cafe were the
best I’ve ever eaten and I really miss them. I
used to go there every week to treat myself!
B I am really happy that I chose HHL for my
exchange. Not only did I manage to learn a lot
from my classes and assignments, I also
discovered a new part of Germany, one that I
knew very little about. The 3 months that I
spent at HHL were always eventful. Although
the curriculum was very demanding and
challenging, I always found my professors and
colleagues to be very easy going and helpful.
A My favorite places in Leipzig are those
that remind us of the key role that Leipzig
played in the fall of the Berlin Wall. The
mural is one example of memories of this
peaceful revolution that united Germany.
B The most interesting thing was to get
immersed in German culture and analyze
the way Germans behave. I personally
enjoyed experiencing the effects that
German history has on the current life of its
citizens. It is interesting to have a close
interaction with German nationals because
it is clear how their history still dictates
some of their current character traits.
A One of my favorite places in Leipzig is the
Monument of the Battle of the Nations. First
of all, the monument impresses on account
of its size (91 meters in height); secondly,
when you go inside, you find yourself in a
hall where 4 statues of 9.5 m in height stand,
representing the four virtues of courage,
faith, national strength and dedication.
Finally, after you have climbed 500 steps,
you find yourself on a panorama platform
where in good weather you can enjoy the
view of Leipzig with its beautiful architecture.
B Incredible, multi-tasking students. I cannot
remember one single outstanding thing, but I
remember my first class at HHL. I was
surprised about how HHL students can
manage to participate actively in lectures at
the same time as they are busy online.
Prager StraSSe
Leipzig among
New York Times
“31 Places to Go in 2010”
Julia Sorokina,
Tallinn University of Technology,
Tallinn, Estonia
A My favorite places in Leipzig are the
parks and the old town.
B For me the most outstanding thing
probably would be the working groups and
the importance of time management. At my
home university, I haven’t experienced serious
group work so far, so it was a challenge for
me. And I was impressed by the ability of
HHL students to manage their time. This is a
very important skill if you want to perform well
at HHL and be successful in life.
HHL News – SUMMER 2010
Las Vegas or Leipzig? According to the current
New York Times list of the 31 most exciting destinations in 2010, the Fair City ranks ahead of
Sin City. Thanks in part to Johann Sebastian
Bach and Neo Rauch, the metropolis on the
Pleiße comes in tenth place, ahead of Los
Angeles (11th place), Shanghai (12th) and
even Las Vegas (17th). At the top of the list is
Sri Lanka, which since the end of the civil war
in May 2009 has developed into a true tropical
On the path to success
Hubertus Scherer
After receiving his HHL Diploma, Hubertus
Scherer (K5) joined the Boston Consulting
Group (BCG) in Hamburg. Today, he is a
Principal at this consultancy firm with a client
portfolio that ranges from European trading
companies via German hospitals to global
investment banks. As an HHL alumnus, he
led a pro-bono project for HHL in 2006/2007
to develop a fundraising concept and
implementation plan. Scherer made use of
BCG’s sabbatical programs to spend time
studying at the Wharton School as well as at
Harvard Business School. In the context of
the initiative [email protected], launched by
BCG in 1998 to improve the quality of
business education at secondary schools in
Germany, Scherer gives business instruction
at two college-prep secondary schools in his
hometown and favorite city, Hannover.
HHL news: How did your studies at HHL
prepare you for your career?
HHL combines a lot of aspects that make it
one of the most outstanding business
schools. For me, HHL was an excellent
platform to prepare for a challenging work
environment. The “virtual toolbox” I had – a
good mix of strategic, financial and marketing know-how – when I graduated from HHL
was a solid foundation on which I could build
my career as a consultant at BCG.
HHL news: What does your current job
As a Principal at BCG, I am responsible for
managing multiple client relationships. The
main goal is to help them to define their
national and international strategic agendas.
But I am also a “doctor for companies”:
clients ask for advice when things become
difficult and then you have to have an
answer off the top of your head. A prime
example of our work is the fundraising
project we did for HHL. A good strategy
needs a good implementation plan; they are
completely interlinked and only the combina-
tion of both delivers what the client asked for
– real impact. By the way, the HHL project
became something of a blueprint for many
fundraising initiatives at BCG. I still get calls
from around the world asking me to support
the financial concepts of educational institutions or non-profit organizations with my
advice – from American universities to charity
organizations. And in addition to taking care
of my clients, an essential task for me is to
develop my team members and to take an
active role in shaping BCG’s future.
HHL news: What does the HHL alumni
network mean to you?
It is ten years since we graduated from HHL
and I still stay in touch with a lot of people I
met during my time in Leipzig. HHL is a
young “old” business school, and the alumni
network will become even more powerful
within the next ten years. We were one of
the first classes that graduated from HHL
after its “rebirth” – and we hopefully have not
finished our careers yet. I feel strongly
attached to HHL, because it is not just an
excellent but also a very likeable academic
institution. So I am proud to be part of the
selection commission finding the right people
to extend our HHL network.
HHL alumni – a truly active network
HHL alumni life has been very active in the past
few months. The Berlin and Munich chapters
both facilitated meetings after the winter break
to ring in the new year. While the London
Chapter met with HHL’s Head of Communication Volker Stößel, M.Sc. Program Manager
Franka Storzer and Alumni Officer Franziska
Rook had a chance to join the Frankfurt Chapter for a high-energy meeting – at a bowling
alley. The Alumni Chapter Hamburg met with
Professor Dr. Manfred Kirchgeorg who was in
town for a student excursion. Among other
topics, the alumni present were updated on
recent developments at HHL and introduced
to the new part-time M.Sc. Program.
Another memorable get-together was this
year’s European Ivy League (EIL) May 14-16,
2010, in which over 80 alumni participated,
either as players or on the sidelines cheering
on the contenders. The event included the
General Meeting of HHL Alumni e.V. and an
Alumni Dinner before the legendary EIL party
carried on into the wee hours.
HHL and the organization teams of The Negotiation Challenge (TNC) and the XIV European
Ivy League would like to thank HHL Alumni
e.V. for their generous support of this year’s
HHL News – SUMMER 2010
Homecoming 2010, your forum for meeting
up with old friends and making new
contacts, is again set for the third weekend
in October (October 15-17, 2010). All alumni
are welcome to attend, but we especially
extend our invitation to graduates from
classes K5 and K6, who celebrate their 10th
graduation anniversary, and graduates from
classes K15, K16, M5, and P1 who celebrate their 5th graduation anniversary. The
planning process for this exciting weekend
has already started, and we welcome your
suggestions regarding the event. Please get
in touch with Alumni Officer Franziska Rook
via [email protected] to submit your ideas and
Heute Strategieberater.
Morgen ins Management.
Activate your Future.
Starten Sie Ihre Karriere als Inhouse-Berater bei Siemens Management Consulting.
Werden Sie Teil eines globalen Netzwerks von über 190 Ländern. Folgen Sie dem Karrierebeispiel von Bing Yuan, die das Senior Management der unterschiedlichsten Siemens Geschäftsdivisionen weltweit berät. Ganz gleich ob Strategieplanung, Post-Merger-Integration,
Benchmarking oder Konzernrestrukturierung: die Lösungen, die Bing gemeinsam mit ihrem
Team entwickelt, steigern den Geschäftswert des gesamten Unternehmens. Und morgen?
Nimmt Bing eine neue Herausforderung im Management eines der weltgrößten Technologieunternehmen an. Vielleicht dann mit Ihnen als ihrem Nachfolger bei SMC?
HHL News – SUMMER 2010
Research & Prog rams
Learning about leadership from a basketball coach
Stefan Koch
Successful managers benefit from globalization by using opportunities for their company. They must recognize social changes and
trends promptly and act prudently in crisis
situations. These ideas were the starting
point of the Leadership Experience
seminars, which took place in the framework of HHL’s MBA Program from April 28
to July 2, 2010. One lecturer was Stefan
Koch, an internationally renowned coach in
professional basketball. He has many years
of experience in structuring, motivating, and
guiding teams. HHL news talked to him
about leadership and his class at HHL.
HHL news: What makes you an expert in
leadership questions?
I have been a leader in professional sports
for a long time, and have made a lot of
mistakes in this role. But I think that I have
been able to analyze these mistakes and
learn from them. Some may say that sports
is not business. That is true, but most of the
concepts can be adapted, although some
might need a little modification.
HHL news: What do you regard as good
A leader has to be able to link individual and
common goals. A leader needs to be
authentic. This means that he must choose
his position according to his personality. A
good leader is flexible, but not willing to
compromise when fundamental values or
moral concepts are involved.
HHL news: How does that relate to HHL’s
MBA curriculum?
I have had players from all over the world on
my basketball teams. Similarly, people from
all over the world come to study at HHL. I
strongly believe that our abilities to understand and tolerate different cultures define
our success in an increasingly globalized
world. So the great emphasis that HHL has
put on international experience makes a lot
of sense.
Ten years of HHL’s full-time MBA: 2000 – 2010
This year HHL celebrates the 10th anniversary
of its full-time MBA Program. Compared to
Harvard, which first set up an MBA program
in 1908, the HHL full-time MBA in General
Management is still relatively young. Despite
this, the MBA curriculum and the students
have developed considerably since the
program’s inception. HHL offers a flexible
and innovative curriculum with the focus on
leadership and global experience, and featuring courses, such as negotiation. For the students, a key advantage of this program is the
vast cultural diversity: 70 per cent of students
have an international background. In combination with the small classes at HHL, this offers an enormous potential for gaining intercultural skills while studying.
We are proud that, although small in size, the
full-time MBA has figured in various rankings
over time. But we know that success has to
be earned. We work constantly to improve
marketing activities and the admissions pro­cess, to be innovative in the curriculum, to
stay in contact with our alumni and to find
ways of helping more excellent students
­fi­nance their degree. Ten years is just the beginning, but it has been a successful start:
our next goal is to become one of the leading
business schools in Europe!
Financing your MBA
In discussions with prospective students, the
economic crisis last year raised the difficulty
of how best to finance their MBA degree.
There is no doubt that education is the most
promising investment in terms of long-term
personal and career goals; this is especially so
with regard to management education. We are
happy to be able to offer various possibilities
for supporting excellent students on their way
to an MBA qualification. Find out more about
the various options:
Young Leader Scholarship
Future Entrepreneur Scholarship
KARL KOLLE Scholarship
MBA Scholarship for Entrepreneurs – a
cooperation between HHL and DIE WELT
Education Funds & Student Loans
Various education funds and student loans
help to cover the expenses of studying.
HHL News – SUMMER 2010
ESF Fund (primarily for part-time students)
If you are working in a small or medium-sized
company in Saxony and Saxony Anhalt (with
up to 500 employees), your company can
request financial support (up to 80% of the
tuition costs) from the European Social Fund
(ESF) for further education purposes.
Educational Assistance Department of VA
(Veterans Affairs)
Candidates who have served on active duty
in the U.S. Army are eligible to apply for the
education benefit program.
Federal Student Aid FAFSA
U.S. citizens interested in studying at HHL can
request financial aid through the Free Application
for Federal Student Aid FAFSA and have the
opportunity to apply for Subsidized / Unsubsidized
Loans or Federal Graduate Plus. HHL is the
only German institution recognized by the U.S.
Department of Education for these loans.
More information: [email protected]
Research & Prog rams
HHL viewed by …
…Professor Dr. Christian Zielke,
who has been teaching at HHL since 1996.
Professor Zielke lives near Gießen and
spends most of his time working in
international projects in the area of sales
effectiveness, leadership, communication
and motivation on behalf of his own management institute and international clients.
HHL news: What do you teach at HHL?
I teach career strategies and application
training. That means which career path is
the right one for you and how do you get
the job for which you’re applying. My
courses cover everything from effective
applications right through to the persuasive
interview. Essentially, everything you should
know about the hidden agenda of the
personnel department.
P6 successfully under way –
Join our next MBA class!
Our new part-time MBA class P6 started
successfully with 34 students. As with other HHL
courses, the student group is very diverse. The
participants come from different academic
backgrounds and work in well-known companies
such as Continental, Daimler, Deutsche Bahn,
E.ON, Hapag-Lloyd, IBM, Lufthansa, Q-Cells and
T-Mobile. Other employers are local companies
such as KPMG AG Leipzig and MIBRAG. Besides
Germany, the students come from Bulgaria,
Finland, and Japan, among others. Applications
for the next class are already being accepted; the
courses start on January 21, 2011.
HHL and DIE WELT offer MBA
entrepreneurship scholarship
HHL is well known for its entrepreneurial spirit.
The school’s graduates have created over
80 start-ups in the past ten years and are
constantly active in the German start-up scene.
To foster even more entrepreneurial thinking,
HHL is now offering a special MBA scholarship
in cooperation with the daily newspaper DIE
WELT. The requirement is a promising business
idea and the demonstrable need for the potential
entrepreneur to develop necessary business
skills before starting his or her own company.
HHL news: How do HHL students stand
I see HHL students as very dynamic,
goal-oriented and open. They’re businessminded, communicative, take the initiative
and are competitive. They are strong strategic thinkers, share a willingness to learn
and to perform, have an international working background and a lot of team spirit –
in other words they’re ideally suited for a
career in, for example, the consulting business.
HHL news: What do you like most about
the city of Leipzig?
I like Leipzig very much because it is an
historically important city with nice shops,
bars, and restaurants. The city has a young,
lively spirit and is a good place for making
great things happen.
HHL’s part-time MBA Program:
An investment in personal advancement
and the vibrant city of Leipzig that brought
me to HHL.
HHL news: What are the most important
Apart from the enrichment of my managerial
skills and knowledge, the takeaways from
working in groups with professionals from
diverse backgrounds really appealed to me.
I also feel that the MBA Program helped me
personally grow in areas like self-organization and time management.
Thomas Klein
In an interview with HHL news, Thomas Klein
talks about his experience as a graduate of
HHL’s part-time MBA Program. The 32-year
old works for Mercedes-Benz as Head of
Sales at the brand’s Mainfranken branch.
HHL news: Why did you opt for an MBA
at HHL?
I chose HHL because of its excellent
reputation and its strong international, yet
deeply-rooted regional background. It was
the combination of these two elements
together with the extremely motivated staff
HHL News – SUMMER 2010
HHL news: How did the MBA program
affect your working and private life?
At times, especially at the beginning of the
program, it was quite tough to incorporate
studying into my equally challenging working
and private life. Our fascinating lectures,
vivid discussions, exciting group work and
the wonderful classmates more than compensated for the tough moments, however.
HHL news: Who would you recommend
the part-time MBA to?
I would recommend the part-time MBA
Program to people who are willing to go the
extra mile and invest a considerable amount
of their private life into their personal
education and advancement. The program
is definitely not a walk in the park.
Research & Prog rams
Leadership experience - dealing with complexity
Many leadership or HR-related courses
convey fundamental theories of leadership,
such as the Blake-Mouton-Grid, in order to
prepare students for future management positions. However, in a world where complexity
is increasing dramatically, these models reach
their limits very quickly. As a consequence,
academics and leading corporations are constantly working on new models for leadership.
Therefore, Dr. Johannes Meier, an experienced manager in practice, also put considerable emphasis on other approaches to
leadership which deal specifically with complexity. In our intensive two-day seminar February 17-18, 2010, we learned about concepts from system theory and concepts from
IT, such as the art of architecting or “Wikinomics”. Not surprisingly, we worked out solutions during our team assignments dealing
with current issues of complexity. We dis-
cussed issues such as key performance indicators for multi-project management and
war room concepts. All the solutions were
then gathered in a wiki. Collaborating via a
wiki fostered the process of learning from
­fellow students and at the same time pro­
vided first ideas of what leadership might
look like in a Web 2.0 world. Besides leadership concepts, Dr. Meier also provided valuable insights into management practice and
challenged our minds in discussions.
Looking back and reflecting, clearly nobody
learns to lead within a two-day seminar, but
you can learn to think in other dimensions
and levels of depths. In the end, we came to
the conclusion that leadership is like Pink
Floyd’s music – at different levels, it means
different things to you.
Michael Römer (MSc4)
Field projects
Master Program
in Management (M.Sc.)
Stakeholder Relations – A Sustainability
Stakeholder Engagement Process for Bayer AG
Partner: Bayer AG
Chair of Microeconomics
For more details, see page 36
Recombinant proteins for human
medicinal products
Partner: BioPlanta GmbH
Chair of Financial Management
There have been a large number of research and
innovation projects in recent years focusing on
developing human medicinal products in
genetically modified plants. BioPlanta, a Leipzig
biotech firm, developed a new technology which
enables them to extract antibodies from these
plants. Extracting antibodies from plants has
many advantages compared to extracting
antibodies from animals and could make a big
contribution to the field of individualized medicine
which seems to be the new trend. The goal of the
project team was to conduct a market study
which shows different ways of introducing this
concept to the market. This includes identifying
important players with their needs and wants but
also developing market entry strategies.
Mystery Shopping
Partner: Checkstone Survey Technologies GmbH
Chair of Marketing Management
Checkstone® GmbH is one of the leading agencies
providing Test Advice and Mystery Shopping.
“Mystery Shopping” is a methodological
instrument of hidden, participating observation in
advisory and sales situations in order to
double-check the service quality in a situation of
direct contact to the customer. Checkstone® acts
primarily act in two segments:
Assurance Companies (advisory services) and
Retailers (sales services). The main objective of
the field project was to develop a marketing
concept for Checkstone® in order to derive
concrete implementation measures regarding
products, services, pricing, positioning and
Strategic business options for DECIMUS GmbH
Partner: DECIMUS GmbH / PrimaCom AG
Chair of Accounting and Auditing
For more details, see page 29
No title
Partner: Sparkasse Leipzig
Sparkassen-Finanzgruppe Chair of Macroeconomics
HHL News – SUMMER 2010
From left to right: Sarah Feige (SV SparkassenVersicherung), Daniela Peter, Andreas Hönl, Ivelina Florev,
Dennis Grosche, Katharina Müller (all MSc4)
Women as a target group for SV SparkassenVersicherung – a market analysis
Partner: SV SparkassenVersicherung Holding AG
Chair of Marketing Management
SV SparkassenVersicherung is the third largest
public insurance company in Germany and
market leader in the field of real estate
insurance. For a company of this size women
with their needs for financial services are an
important target group. This group’s growth
potential has already been identified; however,
appropriate strategies for tapping this potential
appear not to exist. Therefore, the project team
was asked to provide the SV SparkassenVersicherung with a recommendation whether to tap
this specific target group, to what extent this
could be done, and which measures should be
Research & Prog rams
Models for citizen participation in establishing alternative energy plants in Central
Partner: Volksbank Leipzig eG, Thüringer
Ministerium für Landwirtschaft, Forsten, Umwelt
und Naturschutz (TMLFUN), Sakosta SKB GmbH,
and Agil Projektmanagement
Chair of Economics and Information Systems
For more details, see page 42.
Responsible conduct in the conflict area of
workforce reduction
Partner: Wittenberg Center for Global Ethics
Dr. Werner Jackstädt Chair of Economic and
Business Ethics
The field project focused on the analysis of
conflict in the area of workforce reduction. The
project team had the task of developing
concepts which might enable companies to cope
with the conflict area in a responsible way and
to identify communicative competencies or
behavior patterns which might prove useful for
companies to consider in this regard.
Master Program in General
Management (MBA)
Market analysis and recommendations
concerning the global green building market
Partner: Henkel AG & Co. KGaA
Chair of Strategic Management und Organization
Green building – a design philosophy which
focuses on increasing the efficiency of resource
use while reducing building impacts on human
health and the environment – is gaining more
awareness and importance in mature as well as
emerging markets. Although the green building
market seems to be a promising opportunity for
Henkel Adhesive Technologies, the largest division
of Henkel AG & Co. KGaA, the overall picture on
this market is unclear because many of the
national green building markets, especially in
emerging countries, are still at a very early stage
and secondary data on this topic is hard to obtain.
For this reason, the project carried out a detailed
analysis of the green building markets around the
world with regard to size, growth, market drivers,
competitors’ activities, decision bodies, etc., and
assessed the market attractiveness and ability to
win in this market for Henkel Adhesive Technologies, including recommendations for future
Internationalization concept
for Mister Spex GmbH
Partner: Mister Spex GmbH
Chair of Strategic Management und Organization
Development of a global logistic concept for
Q-Cells SE
Partner: Q-Cells SE
Heinz Nixdorf Chair of IT-based Logistics
Mister Spex GmbH is a highly successful online
retailer of spectacles, sunglasses and contact
lenses; since 2008 it has offered its products at
prices up to 60 % below those of traditional
opticians. The company wishes to reinforce its
strong growth rate and secure future markets,
and so has planned to expand into international
markets in 2010. The plan calls for the
establishment of online shops in other European
countries within the next year, whereby the fixed
costs are to be kept as low as possible initially in
order to minimize risk exposure. The principal
aim of the project was to identify European
markets that are of interest for Mister Spex and
to develop market entry strategies taking
culture-specific aspects into account. Furthermore, the product of the online-shop needed to
be reviewed for any necessary adaptations and
the business had to be restructured in view of
the internationalization strategy.
Since Q-Cells SE was established in 1999 it has
grown into one of the leading companies in the
alternative energy sector. As one of the world’s
largest solar cell manufacturers Q-Cells’ core
business is the development, production and
marketing of solar cells. In the future Q-Cells will
be transforming from a pure cell producer to a
global photovoltaic company. Thus, recent
downstream activities will be moved more into
focus, new products will be offered and additionally, new country markets and market segments
within the downstream area will be explored.
Consequently the structure of Q-Cells’ customers
will change. Thus, one of the main future
challenges for Q-Cells will be the adoption and/or
development of its logistics to meet international
and cost efficient conditions. Of importance within
this context is Q-Cells’ reliability in interactions
with their customers. Thus, the aim of the project
was the development of a best-practice approach
based on experiences and benchmarks of other
industries and companies and the adaptation of
these practices to Q-Cells.
Development of a marketing concept to
emphasize the uniqueness of pluriSelect
Partner: pluriSelect GmbH
Chair of Marketing Management
pluriSelect GmbH, located in Leipzig, is a young
and dynamically growing biotech company.
Since its formation in 2006, pluriSelect GmbH
has developed, produced and distributed
innovative separation technologies for the
isolation of cells, proteins, viruses and bacteria
from whole blood, cell culture, cord blood and
other biological fluids. These cell and protein
separation tools form the basis of research in
cancer, rheumatic illnesses, arteriosclerosis and
allergies. The development of a marketing
concept to differentiate pluriSelect clearly from
its competitors was the overriding goal of this
project. The focus was on the B2B customer
analysis (customer value) and competitor
analysis (benchmark for differentiation),
including a SWOT analysis so that a positioning
strategy could be derived which was to be
implemented in particular by pricing, product
layout and communications.
HHL News – SUMMER 2010
Development of an information management
system on sustainability
Partner: Siemens AG
Dr. Werner Jackstädt Chair of Economic and
Business Ethics
As a global and long-established company for
electronics and electrical engineering, operating
in the industry, energy and healthcare sectors,
Siemens AG takes a great interest in the topic of
sustainability. Siemens' understanding of
sustainability incorporates integrating stakeholders' expectations and global trends into
corporate strategy in order to create value for
the company and society over the long term. In
consequence, the identification and evaluation of
expectations and trends in very different areas is
an important part of efforts to ensure sustainability. Digital information processing makes such a
wide spectrum of information available that
filtering, prioritizing and making the necessary
information available to those who need it has
become a major challenge. The aim of this
project was the conception of a user-friendly
information management system focussing on
sustainability and a proposal for its operative
Dr. Dennis Häck
Established in 1996, HHL’s doctoral program
has produced 87 graduates to date and, with
104 candidates currently enrolled, it is growing fast. In an interview, Dr. Dennis Häckl tells
HHL news about his dissertation project, the
research journey and the great opportunities
that HHL offered him.
HHL news: What is your dissertation
project about?
Dr. Häckl: My thesis dealt with new
technologies in the healthcare sector. There
are many innovative technological advances
such as telemedicine, which have been
discussed as cost-decreasing and qualityimproving technologies, but have not been
fully implemented in the German healthcare
Research & Prog rams
system. The dissertation analyzes the
regulatory framework and its incentives for
the different actors to identify main barriers
to the diffusion of such technologies.
HHL news: Did you connect up with other
research institutions?
Dr. Häckl: Through my doctoral scholarship
from the Hanns-Seidel-Stiftung, I was a
member of a nationwide network of young
researchers; we regularly discussed specific
topics of our dissertations as well as current
economic and political projects. Moreover, I
was in contact with researchers from Wayne
State University in Detroit and FriedrichAlexander University of Erlangen-Nuremberg
as well as the Halle Institute for Economic
HHL news: What opportunities did HHL
offer you?
Dr. Häckl: At HHL I was able to do
research at the Center for Healthcare
Management, which hosted a large
international conference on e-health
(MEDNET 2007) and other top class events
such as the HHL Healthcare Challenge
during my time as a doctoral student. I
also led projects and studies for the Federal
Ministry of Education and Research (BMBF)
and different ministries in Saxony. Furthermore, I benefited immensely from the
international expertise of my doctoral
supervisors Professor Dr. Hans Wiesmeth
and Professor Pierfrancesco La Mura,
Ph.D., as well as from HHL’s extensive
network in academia, politics and business.
Doctoral degrees
awarded by HHL
March 2010
Martin Wünsch
Die indikative Kaufpreisallokation bei der
Bilanzierung von Business Combinations nach
IFRS 3 – Ziele und Methoden der “Pre-Deal PPA”
March 2010
Dennis Häckl
Neue Technologien im Gesundheitswesen:
Rahmenbedingungen und Akteure. Eine institutionenökonomische Analyse der Verbreitung von
Innovationen am Beispiel der Telemedizin
May 2010
Regina Neubauer
Business models in the area of logistics:
In seach of Hidden Champions, their business
principles and common industry misperceptions
June 2010
Eva Böttger
Employer Branding – Verhaltenstheoretische
Analysen als Grundlage für die identitätsorientierte Führung von Arbeitgebermarken
June 2010
Oliver Viellechner
Incumbent Inertia in Light of Disruptive
Change in the Airline Industry: Causal Factors
and Top Management Moderators
July 2010
Marco O. Sperling
Treatises on Corporate Governance and
Mergers & Acquisitions
Summer School 2010
July 5-9, 2010, HHL held another successful
Summer School in its Doctoral Program, this time
with 52 participants. During the 4-day event, the
students were provided with an insight into the
topic of Corporate Governance through lectures
by experts including Christian Strenger (DWS
Investment GmbH) and Daniela Weber-Rey
(Clifford Chance), both members of the German
Corporate Governance Commission. Strenger
talked about expectations of investors and the
capital market, while Ms. Weber-Rey focused on
European aspects. Other guest lecturers were
Dr. Peter Henning (Deutsche Bank AG), who spoke
about the role of supervisory boards and legal
aspects; Professor Dr. Christoph Kaserer and Dr.
Marc Rapp (both Technische Universität München)
reflected on the topic from a finance perspective;
and Hans-Jürgen Fahrion (KPMG Advisory), a
long-standing guest lecturer in
HHL’s academic programs,
provided thoughts on leadership and stakeholders in corporate governance. In addition,
Professor Dr. Andreas
Suchanek from the Dr. Werner
Jackstädt Chair of Economic
and Business Ethics highlighted ethical aspects of
corporate governance, and
Professor Dr. Steffen Brenner
(Copenhagen Business School, Denmark), lectured
on the press as a governance device and on the
consequences of the financial crisis for corporate
governance. To allow students to network with
each other, HHL arranged a number of social
activities including a Summer School barbeque,
HHL News – SUMMER 2010
a guided tour of Neo Rauch’s new exhibition
“Begleiter” at Leipzig’s Museum of Fine Arts and
a get-together in the Club International with Dr.
Hans-Dietrich Winkhaus.
Franka Storzer
Research & Prog rams
Exchange programs funded by the
EU and the DAAD continued
larly integrated. We were very satisfied with
the high quality of the students.”
Six HHL students were supported in their
term abroad in 2009/2010 by funding from
the EU’s ERASMUS program. In addition, in
the last academic year HHL opened up new
horizons within the program: Professor Dr.
Iris Hausladen, holder of the Heinz Nixdorf
Chair of IT-based Logistics, taught at Audencia Nantes School of Management (France)
and Jutta Miksche and W. Henning Blarr, Research Associates at the Chair of Strategic
Management and Organization, spent one
week at the University of Economics, Prague,
to teach courses entitled “International Corporate Strategy” and “Problem Solving &
Communication.” Miksche recalls: “A major
goal of my course was to foster intercultural
communication and discussion – for this reason the participants’ experiences were regu-
This year, Theresa Fischer, Petra Spanka,
Volker Stößel, Jana Vogel, and Jörg Wolf all
engaged in staff exchanges with HHL’s European partner institutions. Thus, they were
able to share experiences with their interna­
tional colleagues and bring back ideas for
improving processes in their daily work. Last
but not least, the financial contribution of the
European Union provided valuable impetus
for improving mobility organization, for example the integration of incoming ERASMUS
students at HHL. Eight HHL students are
looking forward to studying abroad at other
ERASMUS institutions in Fall 2010.
Frank Hoffmann
Teaching abroad in China
In Spring 2010, four of HHL’s Research
Associates spent time as visiting scholars at
Lanzhou University, Lanzhou, P.R. China. Dr.
Kathrin Jung, former Research Associate at
HHL’s Chair of Marketing Management and now
Associate Professor of Marketing and Sales at
the University of Applied Sciences Jena, W.
Henning Blarr, and Jutta Miksche both Research
Associates at the Chair of Strategic Management
and Organization, as well as Oliver Hoßfeld,
Research Associate at the Sparkassen-Finanzgruppe Chair of Macroeconomics, taught at the
School of Management at Lanzhou University,
one of HHL’s partner universities in China.
Hoßfeld, who gave a course in quantitative
methods, recalls: “I spent three wonderful and
exciting weeks in Lanzhou. I was fascinated by
the high academic quality of the Lanzhou
students. I was invited on several trips, including
to a Buddhist temple. Actually, there was a huge
cooling system in one of the buildings. I was
really astonished when I heard the reason: The
Buddhas inside were made of cheese – fortunately
they were behind a glass wall. I will never forget
the great experience and, because I enjoyed it so
much, I will return to Lanzhou University next year.”
Chair of Accounting and Auditing
Active participation in
EAA Conference in Istanbul
together an illustrious community of accounting scholars, researchers and practitioners.
Over 900 high quality research papers were
presented at this year’s conference. The
Chair of Accounting and Auditing contributed
two papers to the research forum sessions.
May 19-21, 2010, six members of the Chair
of Accounting and Auditing attended the 33rd
Annual Congress of the European Accounting Association in Istanbul. The EAA brings
In the category Financial Analysis, Paul Pronobis introduced his research work on the
predictive power of comprehensive income
and its individual components under IFRS.
Thomas Nellessen presented a paper on the
perception of the reliability of investment property fair values under IFRS in the category
Financial Reporting.
From LGK to GKR
Since September 2007, the Leipziger Gesprächskreis Rechnungslegung und Prüfung
e.V. (LGK) has tried to link theory and practice
in the fields of accounting, annual auditing and
corporate governance by publishing numerous
articles and books as well as by organizing
scientific seminars and supporting young
researchers. After a resolution passed by the
general meeting of October 29, 2009, the LGK
was renamed Gesellschaft für kapitalmarktorientierte Rechnunglegung e.V. (GKR). This
step is designed to provide the basis for a more
precise and focused national profile. Neither
the association’s aims nor its subject matter
have changed. GKR will continue to discuss all
issues relevant to accounting, annual auditing
and corporate governance.
Enjoy the short film “A minute with ...
Professor Dr. Henning Zülch”
HHL News – SUMMER 2010
Research & Prog rams
GKR series “Financial Reporting Practice”
At the beginning of 2010, the Gesellschaft
für kapitalmarktorientierte Rechnunglegung
e.V. (GKR) launched its own series, published by Erich Schmidt Verlag and edited by
Professor Dr. Henning Zülch. The series allows the GKR to discuss current issues in
the fields of accounting, auditing and corporate governance from an academic and a
practical perspective, and makes the outcome of these discussions accessible to a
wider public. The first volume, entitled “Bilanzierungserleichterungen im Rahmen der
IFRS”, appeared in December 2009. Zülch
and Nellessen discuss ease of reporting
procedures in the framework of IFRS, considering in particular the topic of impracticability. In the context of this publication series,
well-known practitioners and researchers
have the opportunity to present their theoretically well-founded and practically implementable solutions.
Financial Reporting Practice – Volume 1
Henning Zülch / Thomas Nellessen:
Bilanzierungserleichterungen im Rahmen der
IFRS, Berlin 2010, ISBN 978-3-503-12099-4,
176 S., 39,95 EUR
Zülch, Henning / Hoffmann, Sebastian /Siggelkow, Lena
Umsatz- bzw. Ertragsrealisation im Rahmen
von Sale-and-Buy-Transaktionen
in: KoR: Zeitschrift für internationale und kapitalmarktorientierte Rechnungslegung, 10 (2010)
1, 40-45
Pronobis, Paul / Schwetzler, Bernhard / Sperling,
Marco O. / Zülch, Henning
Trends in der Ergebnisqualität (earnings
quality) deutscher Jahresabschlüsse – Teil 1:
Quantitativ empirische Untersuchung rechnungswesenbasierter Ergebnismaßgrößen
in: Corporate Finance biz, 1 (2010) 2, 93-99
Zülch, Henning / Siggelkow, Lena
Der Impairment-Test gemäß IAS 36: Problembereiche und Implikationen der Wirtschaftskrise
in: Zeitschrift für Internationale Rechnungslegung: IRZ, 5 (2010) 1, 29-35
Zülch, Henning / Güth, Simon
Der deutsche Standpunkt zum IFRS for SMEs
– Status Quo und kritische Würdigung
in: Der Betrieb, 63 (2010) 11, 576-578
Zülch, Henning / Hoffmann, Sebastian
Rechnungslegungs-Agenda 2010
in: Der Betrieb, 63 (2010) 4, Gastkommentar, M1
Zülch, Henning / Hoffmann, Sebastian
Nach der Prüfung ist vor der Prüfung
in: KoR: Zeitschrift für internationale und kapitalmarktorientierte Rechnungslegung, 10 (2010) 2,
Gastkommentar M1
Zülch, Henning / Hoffmann, Sebastian
Fehlen eines Prognoseberichts als wesentlicher Fehler der Rechnungslegung
in: Unternehmensteuern und Bilanzen: StuB, 12
(2010) 3, 83-87
Zülch, Henning / Hoffmann, Sebastian
Notwendigkeit eines Prognoseberichts im
Lagebericht auch in der Wirtschaftskrise
in: Entscheidungen zum Wirtschaftsrecht Kurzkommentare: EWiR, 26 (2010) 2, 57-58
Zülch, Henning / Güth, Simon
Die neue Satzung der IASCF (IASCF Constitution Review) – Implikationen für den
Standardsetzungsprozess und die künftige
Ausrichtung der IFRS
in: KoR: Zeitschrift für internationale und kapitalmarktorientierte Rechnungslegung, 10 (2010) 4,
Zülch, Henning / Krauss, Patrick / Pronobis, Paul
Die Entwicklung von Abschlussprüferhonoraren in Deutschland zwischen 2004 und
2008: Eine empirische Analyse ausgewählter
Börsenindizes (DAX, MDAX, SDAX, TecDAX)
in: Die Wirtschaftsprüfung: WPg, 63 (2010) 8,
Zülch, Henning / Hoffmann, Sebastian
Probleme und mögliche Lösungsansätze der
„neuen“ Ausschüttungssperre nach § 268
Abs. 8 HGB
in: Der Betrieb, 63 (2010) 17, 909-912
HHL News – SUMMER 2010
Zülch, Henning / Hoffmann, Sebastian
Rechtsprechung zum RechnungslegungsEnforcement in Deutschland – ein erster
in: Deutsches Steuerrecht: DStR, 48 (2010),
Zülch, Henning / Burghardt, Stephan
The granting of loans by German banks to
SMEs against the background of international financial reporting
in: Journal of Applied Accounting Research,
11 (2010) Issue 1, 43-57
Pronobis, Paul / Schwetzler, Bernhard / Sperling, Marco O. / Zülch, Henning
Trends in der Ergebnisqualität (earnings
quality) deutscher Jahresabschlüsse –
Teil 2: Kapitalmarkrelevanz von Ergebnismaßgrößen
in: Corporate Finance biz, 1 (2010) 3, 165-169
Zülch, Henning
Arbeitskreis "Immaterielle Werte im
Rechnungswesen" der SchmalenbachGesellschaft für Betriebswirtschaft e.V.
(Hrsg.): Immaterielle Werte im Rahmen
der Purchase Price Allocation bei Unternehmenszusammenschlüssen nach IFRS –
Ein Beitrag zur Best Practice
in: zfbf Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, Sonderheft
Research & Prog rams
Enforcing Financial Reporting
Standards in Germany
On April 22, 2010, the Gesellschaft für kapitalmarktorientierte Rechnungslegung e.V. (GKR) and Susat &
Partner OHG held a seminar on the enforcement of
financial reporting standards in Germany. Following
the welcome by Professor Dr. Henning Zülch, WP StB
Patrick Scheinpflug and WP StB Dirk Driesch CPA,
both from Susat & Partner OHG, gave the seminar’s
thirty participants an overview of the German
Financial Reporting Enforcement Panel (FREP). They
also presented accounting problems on which the
FREP is focusing in 2010. Next, Peter Mißler, Head of
Corporate Accounting & Reporting at Deutsche Post
AG, provided a personal account of his experience
with an enforcement examination. In addition, he
gave recommendations for companies under the
scrutiny of FREP. Finally, Professor Dr. Henning Zülch
summed up court decisions regarding FREP’s legal
status. Most of these rulings have strengthened the
enforcement process so far. While the seminar’s
participants agreed on the need for an enforcement
institution, Peter Mißler stressed that “an examination takes up a great deal of corporate resources
during the audit.”
Field projects
New staff
Strategic business options
Partner: DECIMUS GmbH / PrimaCom AG
Chair of Accounting and Auditing
DECIMUS is a 100% subsidiary of PrimaCom AG, one of the largest cable operators
in Germany. DECIMUS provides managed
services for cable operators. Through its
proprietary cable network, it is able to
provide customers with television, internet
and telephony. The scope of the project was
to create a strategy which helps DECIMUS
to position itself in the market and to be
successful in the coming years. First, a vision
and a mission statement were developed in
close collaboration with the DECIMUS management team. The strategic management
process applied included an external analysis of the market identifying trends, and an
internal analysis looking at the company’s
core competences. As a result, several
strategic options were developed which
required an adjustment of the organizational
structure as well as the internal processes
in order to create sustainable value.
Marcus Salewski joined the HHL Chair of
Accounting and Auditing as a Research
Associate in April 2010. He graduated from
Freie Universität Berlin, majoring in Accounting, Finance, and Econometrics. During his
studies, he gained experience at the Chair of
Banking and Finance at FU Berlin as a student assistant. He gained further practical
experience through internships with Landesbank Berlin AG and Ernst & Young GmbH.
Alternating every six months with his work at
HHL, he will continue working at Ernst & Young
GmbH, focusing on Transaction Services.
Talks at conferences
Paul Pronobis
The predictive power of comprehensive income
and its individual components under IFRS
EAA Conference
Istanbul, Turkey, May 19-21, 2010
Thomas Nellessen
The perception of the reliability of investment
property fair values under IFRS – a quantitative empirical analysis of European listed
property companies between 2005 and 2007
EAA Conference
Istanbul, Turkey, May 19 -21, 2010
Paul Pronobis
Wirkungsanalyse der Neugestaltung des Performance Reporting nach IFRS. Empirische
Evidenz deutscher kapitalmarktorientierter
Unternehmen unter Berücksichtigung der
HHL Doctoral and Research Colloquium
Leipzig, Germany, April 30, 2010
Professor Dr. Henning Zülch
Enforcement in Deutschland: Verfahrensablauf und bisherige Rechtsprechung
Meeting of the Gesellschaft für kapitalmarktorientierte Rechnungslegung e.V.
Leipzig, Germany, April 22, 2010
Professor Dr. Henning Zülch
Das Bilanzrechtsmodernisierungsgesetz
(BilMoG) – Auswirkungen auf die betriebliche Altersversorgung aus Sicht der
Aba - Forum Steuerrecht
Mannheim, Germany, April 14, 2010
Sebastian Hoffmann
Lobbying im Rahmen der Entstehung von
HHL Doctoral and Research Colloquium
Leipzig, Germany, February 5, 2010
Guest lecturers
Hans-Jürgen Fahrion
KPMG AG, Munich
Dr. Mark-Ken Erdmann
Be Business Consulting GmbH
HHL News – SUMMER 2010
Dominic Detzen started working at HHL’s Chair of
Accounting and Auditing as a Research
Associate in April 2010. He graduated from
the University of St. Gallen with a Master’s
degree in Accounting and Finance after
receiving his Bachelor of Science from the
Catholic University of Eichstätt-Ingolstadt.
He also spent a year abroad at the
University of Memphis. During his studies,
he gained practical experience through
internships at Landesbank Saar, PricewaterhouseCoopers and KPMG.
Research & Prog rams
Chair of Financial Management
Corporate valuation with BCG:
Combining theory and practice
During the guest
lecture, we had the
opportunity to gain
from one of the leading
consulting firms. Dr.
Kengelbach spoke
about one of BCG’s
current M&A cases,
which was very exciting and informative. He also talked
about joint projects
with the Chair of FiFrom left to right: Professor Dr. Bernhard Schwetzler, Marco O. Sperling,
Dr. Jens Kengelbach, Dr. Philipp Jostarndt, Dr. Amadeus Petzke
Management. Then, Marco
The intertwining of theory and practice is cenSperling, Research Associate at the Chair
tral to HHL’s teaching philosophy. On March 5,
summarized the findings of the paper “How
2010, as part of our lecture on corporate valuDoes Geographical and Legal Proximity Afation, we had the great pleasure of welcoming
fect the Performance of M&A Transactions?”
Dr. Jens Kengelbach, Dr. Amadeus Petzke
which he co-authored with Dr. Kengelbach
and Dr. Philipp Jostarndt from The Boston
and Professor Dr. Schwetzler. Afterwards, Dr.
Consulting Group (BCG). In the lecture, we
Jostarndt gave insights into the current M&A
learn about international and German valuaenvironment, talking about the development
tion approaches, such as the DCF and multiof overall M&A activity, private equity deals,
ple-based valuation, as well as about valuaequity issuance and debt financing.
tion issues in mergers & acquisitions (M&A).
Gaining insights from the practical world definitely helped me to better understand and
process the theory heard in the classroom.
Overall, the guest lecture really enriched the
corporate valuation course and raised my interest in financial issues even more.
Anna-Kristin Georgii (M10)
Scientific Hotspot:
Proximity and M&A
Geographical as well as legal proximity do
have a significant impact on the success of
corporate transactions. Transactions between
firms in neighboring countries often show
negative performance. Regarding legal
proximity, we find that the management of
target firms in countries with weaker
shareholder rights tends to accept offers too
early, while the management of acquirers
coming from a weaker legal system tends to
Marco O. Sperling
Doktorandenseminar Ost: Funding the route, not the results
On April 16 and 17, 2010, Sven Arnold, Alexander Lahmann and Christin Rudolph, all
doctoral students at the Chair of Financial
Management, attended this year’s Doktorandenseminar Ost at Martin Luther University
Halle-Wittenberg (MLU).
The HypoVereinsbank-UniCredit Group-Stiftungsfonds finances the colloquium twice a
year in order to enable a fruitful exchange of
thoughts and ideas between doctoral students and professors from university chairs
of banking and finance in eastern Germany.
Not only do the participants benefit from the
critical questions and encouraging comments of their colleagues, but the listeners
gain new insights from the presentations on
a variety of topics. Often researchers from
different universities work in similar fields,
and thus can benefit from each other’s experience and knowledge.
This year’s first seminar started at noon on
Friday, April 16, 2010, with a get-together
and a short welcome speech by Professor
Dr. Laitenberger, holder of the Chair of Banking and Finance at MLU. Following this, several doctoral students from the universities
of Leipzig, Jena and Halle-Wittenberg presented their research projects on credit rationing of banks and the role of bootstrapping in
performance measurement of investment
funds. The first day of the seminar ended
with an exciting tour through the State Muse-
HHL News – SUMMER 2010
um of Prehistory, home of the famous Sky
Disc of Nebra, and an enjoyable dinner at the
Ratsherrenklause. The second day was filled
with interesting presentations and subsequent discussions on current topics such as
the influence of the financial crisis on the random walk behavior of international stock
markets. In the end, the event was a great
success for all the participants.
The next Doktorandenseminar Ost will take
place October 15-16, 2010, at TU Berg-­
akademie Freiberg. We are looking forward
to it!
Christin Rudolph
Research & Prog rams
Chair of Financial Management Doctoral
Colloquium: Fostering team spirit
On March 2, 2010, the Chair of Financial Management met to discuss the status of current
research projects and dissertations. These
regular meetings are used to track the progress of projects, discuss problems and
open questions, and to set new targets.
Thus, the meetings motivate an active exchange of knowledge and foster the team
spirit among the chair’s staff.
The colloquium took place at HHL and commenced with a status report by Research Associate Marco O. Sperling on his working paper Cash Holdings and Corporate Governance
Around the World. He was followed by Research Associate Alexander Knauer, who
talked about his research on Sources of Value
Creation in Private Equity Transactions, and
Research Associate Alexander Lahmann,
who reported on his progress in the construction of a German transaction (WpÜG) database. One of the chair’s new doctoral stu­
dents, Bruno Nöllgen, then gave insights into
his bibliographical research on interrelations
between corporate diversification, transactions
and cash. Professor Dr. Bernhard Schwetzler
closed the doctoral colloquium with a summary of the meeting and the formulation of the
chair’s next goals.
The next colloquium will take place October
13-16, 2010, in Tyrol, Austria. As former doctoral students will also take part, the excur­s­ion will not only involve exciting seminars
and group discussions, but also promises to
be an enjoyable reunion.
Alexander Lahmann, Christin Rudolph
Expert group “Corporate
Transactions & Valuation” of DVFA
Since January 2009 the expert group “Corporate
Transactions & Valuation” of DVFA (The German
Society of Investment Professionals) has been
considering corporate valuation in situations of
domination, such as squeeze-outs or profit
transfer agreements. The group is headed by
Professor Dr. Bernhard Schwetzler and also
includes lawyers, investment bankers and other
professionals from DVFA; it meets every six to
eight weeks in Frankfurt/Main. The group’s task
is to develop best-practice recommendations for
a fair and transparent valuation report. Until
recently, the group concentrated on gathering
and analyzing information on relevant laws,
economic behavior of market participants and
standards in corporate valuation. Currently,
the group is developing and discussing its
recommendations. The first draft of its report
is expected this summer.
Sven Arnold
New staff
From left to right: Marco O.
Sperling, Sven Arnold, Bruno
Nöllgen, Christin Rudolph,
Matthias Tischner, Alexander
Fritsch, Professor Dr. Bernhard
Schwetzler, Alexander Knauer,
Alexander Lahmann
HHL/D&P Fairness Opinion Monitor
The Chair of Financial Management recently
published the third issue of the Fairness Opinion Monitor, produced jointly with Duff &
Phelps. Fairness opinions are applied to evaluate whether a public offer for a target firm is
fair from a financial point of view. The goal of
the HHL/D&P Fairness Opinion Monitor:
Jahresreport 2009 is to collect and analyze
the content and quality of German public
fairness opinions. The findings for 2009 show
that fairness opinions have gained importance in Germany and that the recommendations of the Fairness Opinions expert group
of the DVFA (German Society of Investment
Professionals), headed by Professor Dr.
Bernhard Schwetzler, were widely applied.
The group’s best-practice recommendations
include the following: A variety of valuation
methods should be used to assess a target
firm; any potential conflicts of interest, for example when the initiator and the provider of a
fairness opinion have professional or private
links, should be made public; sources of information on the target company should be
stated. These recommendations are intended to ensure the credibility of fairness opinions. The analyses of German fairness opinions summarized in the HHL/D&P Fairness
Opinion Monitor showed that these and
other recommended practices are increasingly being followed.
Sven Arnold
HHL News – SUMMER 2010
Christin Rudolph joined HHL’s Chair of Financial
Management as a Research Associate in
August 2009. She graduated from HHL,
where she attained her Diploma, majoring
in Strategy and Finance. She completed
one term abroad, participating in the MBA
program at the Instituto de Empresa in
Madrid. During her studies she gained
practical experience in the consulting and
banking industry. Her research will be
focused on Diversification and Capital
Get to know HHL’s part-time MBA
and part-time M.Sc. Program on September 3, 2010
Information & registration:
Research & Prog rams
Initiatives at the Chair
of Financial Management
employees and graduates from Leipzig’s universities and non-university research institutes, Smile.medi­biz has a stronger focus
on the medical/healthcare business.
Both initiatives are under the auspices of the
Chair of Financial Management and headed
by Professor Dr. Bernhard Schwetzler.
Sandro Günther
Matthias Tischner
Research Associate
E-mail: [email protected]
Alexander Knauer
Research Associate
E-mail: [email protected]
LIFE is an idea competition for prospective
company founders at Leipzig’s universities. This year saw the third edition with
more than 60 ideas submitted by university
students and employees. Of these, the ten
best ideas had a one-minute slot to present
themselves during the award ceremony
on January 27, where the more than 300
guests chose their three favorites live by
TED. Among the winners was HHL graduate
Sandro Günther who won third prize with an
“Intelligent E-commerce Platform.”
Coaching projects (examples)
Welcome to our new external
doctoral students!
Dominic C. Klemmer (left) and Bruno Nöllgen
recently joined HHL’s Chair of Financial
Management as external doctoral candidates.
Until April 2010, Dominic C. Klemmer worked as
a consultant for BCG, where he was a core
member of the Corporate Development practice
area and the European Corporate Finance Task
Force. He is working towards his doctoral degree
in the course of a BCG-sponsored Educational
Leave of Absence (ELoA). His research focuses
on Mergers & Acquisitions and Corporate
Governance. Prior to his doctoral studies, Bruno
Nöllgen worked as a consultant for McKinsey &
Company. Before that, he attained his Diploma at
HHL, majoring in Finance and Production
On November 11, 2009, an event entitled
“Start-up financing by the KfW Förderbank”
was held at HHL. Experts from the KfW bank
and from the Sparkasse Leipzig introduced
different forms of support for company founders and highlighted important criteria for financing a new business successfully. Afterwards,
all the participants had the opportunity to get
together with snacks and drinks.
LIFE – Leipziger Idea Competition
for Founders
Matthias Tischer (left) and Alexander Knauer
Smile – Selbst Management Initiative Leipzig – is a joint project between the University
of Leipzig, the Leipzig University of Applied
Sciences (HTWK) and HHL. It is funded by
the Saxon State Ministry for Economic Affairs,
Labor and Transport (SMWA), the Saxon
State Ministry for Science and the Arts
(SMWK), and by the European Social Fund
(ESF). Smile.medibiz is a joint project be­
tween the University of Leipzig, the Helmholtz Centre for Environmental Research
(UFZ) and HHL. It is funded by the Federal
Ministry of Economics and Technology
(BMWi) and the European Social Fund (ESF).
The main objective of both the Smile and
the Smile.medibiz programs is to establish a
last-ing “culture of entrepreneurship” at universities and non-university research institutes in Leipzig and to increase the number
of innovative start-ups and their chances of
success. While Smile focuses on students,
Start-up financing
by the KfW Förderbank
awibra stands for “Alles Was Ich BRAuche,”
or “Everything I Need,” and tries to simplify
the procurement of non-durable goods by
employing a special technology developed
in-house which guarantees that the customer­
is always supplied in time.
Management. We are glad that he has returned
and that HHL is still his academic institution of
choice. His doctoral studies are sponsored by
McKinsey, also in the context of an ELoA, and
focus on the impact of corporate diversification
on payment methods in takeovers. We warmly
welcome both to our chair!
Werbeboten is a new opportunity for companies to market their products within a relevant target group. Everybody can join and
become a “Werbebote” or advertising messenger and earn money by wearing a T-shirt.
HHL News – SUMMER 2010
Research & Prog rams
Kengelbach, Jens / Schwetzler, Bernhard /
Sperling, Marco O.
How does geographical and legal proximity
affect the performance of M&A transactions
in: Journal of General Management, Issue 35,
2010, 81-97
Aders, Christian / Schwetzler, Bernhard
HHL/D&P Fairness Opinion Monitor:
Jahresreport 2009
in: CORPORATE FINANCE biz, Issue 2,
2010, 118-121
Friedl, Gunther / Schwetzler, Bernhard
Unternehmensbewertung bei Inflation und
in: ZfB - Zeitschrift für Betriebswirtschaft, Issue 4,
2010, 417-440
Piehler, Maik / Schwetzler, Bernhard
Zum Wert ertragsteuerlicher Verlustvorträge
in: zfbf - Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, Volume 62, Issue 2,
2010, 60-100
Pronobis, Paul / Schwetzler, Bernhard /
Sperling, Marco O. / Zülch, Henning
Trends in der Ergebnisqualität (earnings
quality) deutscher Jahresabschlüsse – Teil 1:
Quantitativ empirische Untersuchung rechnungswesenbasierter Ergebnismaßgrößen
in: Corporate Finance biz, Volume 12, Issue 2,
2010, 93-99
Pronobis, Paul / Schwetzler, Bernhard /
Sperling, Marco O. / Zülch, Henning
Trends in der Ergebnisqualität (earnings
quality) deutscher Jahresabschlüsse – Teil 2:
Kapitalmarktrelevanz von Ergebnisgrößen
in: Corporate Finance biz, Volume 12, Issue 3,
2010, 165-169
Guest lecturers
Dr. Jens Kengelbach
The Boston Consulting Group
Dr. Philipp Jostarndt
The Boston Consulting Group
Carsten Knobel
Henkel KGaA
Other Events
Wall Street Prep Course for students
Leipzig, Germany, July 3-4 and 10-11, 2010
Chair of Marketing Management
Chair of Marketing Management
at Brand Management Conference
Represented by three Research Associates,
the Chair of Marketing Management attended the 6th Thought Leaders International
Conference in Brand Management, which
took place in Lugano, Switzerland, April
18-20, 2010. The range of topics varied from
B2B branding, place branding, corporate
branding and brand identity to brands and
communication, and also included services
branding. The latest academic research and
best practices in new topics were presented,
such as the impact of the Web and emerging
media on branding. HHL’s Chair of Marketing
Management contributed four papers to the
more than 150 paper submissions prior to
the conference, and the four were among the
80 papers scheduled for presentation. In addition to the parallel sessions, keynote
addresses by personalities such as Yves
Daccord (Director of Communication of the
International Committee of the Red Cross)
and Professor Jean-Nöel Kapferer (HEC,
Paris) provided interesting insights into brand
Beatrice Ermer
From left to right: Gunther Greven, Jenny Müller,
Beatrice Ermer
Academic Marketing Association: Doctoral Meeting
At the end of February 2010, the members of
the Academic Marketing Association (Akademische Marketinggesellschaft e.V., AMG)
met in Germany’s highest city Oberwiesenthal. There the association not only held
its fourth General Meeting but also organized
a doctoral colloquium for HHL’s Chair of Marketing Management. During this colloquium,
current doctoral students presented their
planned or ongoing research work and then
discussed it in plenum. In addition, participants received revealing insights into the study
LiveTrends 2009/10 before Professor Dr.
Manfred Kirchgeorg presented the state of
the art in research on green marketing. The
association’s next meeting will take place in
September 2010 in Ahrweiler. For more information on the AMG, its activities, its current
HHL News – SUMMER 2010
management board and other details, see:
For more information regarding the LiveTrends
2009/10, please contact [email protected]
Beatrice Ermer
Research & Prog rams
What gets measured gets done – how to
make marketing more accountable?
Participants at the 58th Leadership Talk
On April 22 and 23, 2010, the Academic Society for Marketing and Business Leadership
(Wissenschaftliche Gesellschaft für Marketing und Unternehmensführung) met for its
58th semi-annual Leadership Talk to discuss
“The Contribution of Marketing to Corporate
Performance”. The event took place at
Schloss Wilkinghege in Münster. The event
opened with the traditional fireside chat during which Peter Kowalsky, CEO of BIONADE,
provided interesting insights regarding how
he managed to successfully position a lifestyle brand from a small village in Lower
Franconia in the highly competitive market
for soft drinks. The second half of the Leadership Talk comprised two components.
First, lectures by Professor Werner Reinartz
(University of Cologne), Andreas Koch (Miles
& More), Udo Klein-Bölting (BBDO Consulting) and Professor Christoph Burmann (University of Bremen) illustrated best practice
examples in marketing efficiency and demonstrated which tools companies can use to
strengthen the impact of marketing on corporate performance. Secondly, all the lecturers convened to take part in a panel discussion and to share their experience with
the society’s members. The next Leadership
Talk will take place in Hamburg at the premises of Gruner + Jahr on November 4 and 5,
2010. Manuel Roj
Retailing has many faces –
a visit to the Otto Group
Together with the Otto Group,
a leading international trading
and services corporation, the
Chair of Marketing Management organized a visit to the
holding in Hamburg for students of the MSc3 class who
had chosen Retail Marketing
as an elective. After a warm
welcome, Dr. Björn Schäfers,
CEO of shopping24 and, gave a presentation on the change of business models and success
factors in e-commerce. After
the lunch break, Andreas
Streubig talked about the significance of sustainability and how the Otto
Group approaches and realizes it. This highly
topical subject provoked many questions.
Before returning to Leipzig, the students had
some time to stroll around and enjoy Hamburg. On behalf of the Chair and the students
of MSc3 class, we would like to thank the
Otto Group, and particularly Dr. Jansen, for
Attendance at International Case
Method Workshop
From March 18 to 19, 2010, Dr. Evelyn Kästner
attended an international workshop on how to
teach strategy and entrepreneurship using case
studies. The workshop which was organized by
ecch, a non-profit organization offering the
world’s largest and most up-to-date collection
of management case study materials, took
place at Copenhagen University. In addition to
theoretical knowledge, hands-on experience
was provided in solving and writing cases and
there was plenty of opportunity to make
valuable contacts with university professors in
a social context.
Dr. Evelyn Kästner
Research Associate becomes
IAMS™ Board Member
In March 2010, Dr. Evelyn Kästner joined the
International Institute of Marketing Professionals IIMP™ as a member of its IAMS™ Board.
IAMS™ Board members represent the G20
countries and include senior academic leaders
from reputable business schools and Chief
Marketing Officers from major corporations.
The IAMS Board will lead the development of
Internationally Accepted Marketing Standards. Publications
Kirchgeorg, Manfred / Ermer, Beatrice /
Brühe, Christian / Hartmann, Dagobert
LiveTrends 2009/10: [email protected] – new
forms of customer dialogue
Cologne, Leipzig, 2009
Kirchgeorg, Manfred / Klante, Oliver / Jung,
The future of trade shows: insights from
a scenario analysis,
in: Journal of Business and Industrial Marketing, Vol. 25 No. 4, 2010
the excellent organization in Hamburg and
for giving us the opportunity to visit. Also, we
would like to express our thanks to the
­Academic Marketing Association (AMG e.V.)
for their financial support of this excursion.
Jenny Müller and Beatrice Ermer
HHL News – SUMMER 2010
Kirchgeorg, Manfred / Springer, Christiane
Einsatz und Wirkung von Instrumenten
der Live Communication im Kundenbindungszyklus,
in: Georgi, D., Hadwich, K. (ed.): Management von Kundenbeziehungen, Wiesbaden
2010, 325-343
Research & Prog rams
Talks at conferences
Beatrice Ermer
The 6 senses – The essentials of marketing
EMAC 2010 Doctoral Colloquium
Copenhagen, Denmark, May 30 - June 1, 2010
Professor Dr. Manfred Kirchgeorg
Automotive Cluster Ostdeutschland – ACOD
EUIJ-Kansai 11th International Symposium –
The Automotive Parts Industry in the Aftermath
of the World Financial Crisis: European and
Japanese Perspectives
Osaka, Japan, May 14, 2010
Beatrice Ermer
Consequences of Crisis Exposure on
the Brand Communication Mix of German
6th Thought Leaders International
Conference on Brand Management
Lugano, Switzerland, April 20, 2010
Gunther Greven
Brand-Related Drivers of University Attractiveness – An International Comparison
6th Thought Leaders International
Conference on Brand Management
Lugano, Switzerland, April 19, 2010
Jenny Müller
Influence of the Financial Crisis on Employer
Brands of Banks
6th Thought Leaders International
Conference on Brand Management
Lugano, Switzerland, April 19, 2010
Jenny Müller
Integrating Employer Branding into a holistic
brand management framework
6th Thought Leaders International
Conference on Brand Management
Lugano, Switzerland, April 19, 2010
Professor Dr. Manfred Kirchgeorg
Unternehmensstrategien bei steigendem
Wettbewerbsdruck im Messewesen
9. Messeforum Baden-Württemberg
Offenburg, Germany, March 25, 2010
Professor Dr. Manfred Kirchgeorg
Unternehmensprofilierung am Arbeitsmarkt
– Kann das Employer Branding von der
klassischen Markenführung lernen?
8. Tagung des Preferred Partnership Program
Königswinter, Germany, March 22-23, 2010
Professor Dr. Manfred Kirchgeorg
Mitarbeiter der Zukunft – Zukunft
der Mitarbeiter
4. Leipziger Personalforum
Leipzig, Germany, March 18, 2010
Leipzig’s cluster strategy – a thorough check-up
Roughly a decade ago, five industry clusters
were initiated by the Leipzig city administration to support the cooperation between stakeholders from business, research and politics
in the city. In November 2009, the Chair of
Marketing Management was commissioned
by the city administration to run a project
analyzing and revising cluster activities in
Leipzig. The main questions to be answered
were whether the cluster strategy has been a
success so far and what strategic adjustments might be necessary in the future.
Based on an extensive analysis, including a
large number of personal discussions, a telephone survey and a statistical investigation,
the study’s first results were presented by the
Chair at the Neues Rathaus in May 2010. During the final stage of the project, Professor
Kirchgeorg attended a cluster conference in
Osaka, Japan, to share some results regarding the regional automotive sector with industry experts. Leipzig’s new cluster strategy
will be presented to the public this summer
and will hopefully contribute to the positive
economic development Leipzig has undergone in recent years.
Kai Weinrich
Sparkassen-Finanzgruppe Chair of Macroeconomics
Talks at conferences
Professor Dr. Wilhelm Althammer
Pollution Havens: Empirical Evidence
for Germany
4th World Congress of Environmental and
Resource Economists
Montreal, Canada, June 28-July 2, 2010
Carstensen, Kai / Hagen, Jan / Hoßfeld, Oliver /
Neaves, Abelardo
Money Demand Stability and Inflation
Prediction in the Four Largest EMU Countries
in: Scottish Journal of Political Economy, 2009,
Volume 56, Issue 1, 73-93
HHL News – SUMMER 2010
Althammer, Wilhelm / Mutz, Christine
Pollution Havens: Empirical Evidence
for Germany
Working Paper (27 pages)
Scherzer, Falk
On the Value of Individual Athletes
in Team Sports
Working Paper (24 pages)
Research & Prog rams
Chair of Microeconomics
A special experience: impressions
by a Chinese scholar at HHL
Study at HHL is really a very special and impressive experience for me. At the beginning,
I experienced a fairly major culture shock and
the speed with which people speak was a
really big problem for me. Also, the role conversion confused me somewhat, because I
came to HHL not only as an exchange student but also as a visiting scholar. On most
occasions, I was engaged in listening to the
courses and lectures as a student in the
classrooms, preparing for the various individual and group assignments, participating in
the workshops and team work, and so on.
Professor Dongmei Hao
At the same time, I also tried to spend some
time reading relevant reference books and
articles for my own research field, Game Theory application in Human Behavior. Furthermore, it is very complicated but necessary for
me to learn to use the different IT and communication hardware and software at HHL.
There is a totally different set of highly efficient management processes and knowledge management methods here. However,
I am very lucky and happy to have met the
kind and honorable Professor Dr. Arnis Vilks
and the friendly and warmhearted HHL staff,
as well as pleasant and proactive classmates.
They were all a big help to me in adapting to
studying and living in this new campus and
the beautiful city of Leipzig. In short, all
aspects of study at HHL made me change
my perspectives, and to some degree also
my values and behavior. Now after these
three warm-up months, I find I love studying
at HHL and living in Leipzig. I am looking forward to learning more in the months to come.
Dongmei Hao, Associate Professor of Lanzhou
University in P. R. China
Field projects
“Stakeholder relations – Sustainability
stakeholder strategy for multinational
Partner: Bayer AG
Chair of Microeconomics
During the winter term, a team of five MSc4
students, namely Philipp Hahn, Christian Hetke,
Bert Förster, Susanne Weidenkaff and Sarah
Jentzsch, participated in a field project with
Bayer AG with the aim of developing a sustainability stakeholder strategy for multinational
enterprises. The students were supported by Dr.
Daniel Steiners and Dagmar Jost from Bayer AG
in Leverkusen and by HHL’s Chair of Microeconomics. During the project, the students
developed a process that makes it possible for
Bayer to engage successfully with its stakeholders. Additionally, they verified the process by
applying it in the fields of nanotechnology and
access to medicine. The students visited Bayer
AG’s headquarters in Leverkusen three times to
From left to right: Susanne Weidenkaff, Christian Hetke, Philipp Hahn, Sarah Jentzsch, Bert Förster
present their results and discuss their ideas with
senior management. Overall, Bayer was very satisfied with the final results delivered by the HHL
team and will implement changes to the current
stakeholder engagement strategy.
HHL News – SUMMER 2010
In appreciation of the good work, they also
invited the students to visit the production
facilities of Bayer Schering Pharma in Berlin.
Sarah Jentzsch
Innovation braucht Kapital.
Technologiegründerfonds Sachsen
Wir unterstützen Sie bei
der Herausforderung, als
innovativer Unternehmer
erfolgreich zu sein.
Wir stärken Unternehmern
in Sachsen den Rücken mit
Venture Capital von 0,2
bis 4 Mio. .
Sie suchen einen Partner,
mit dem Sie von Beginn an
stark aufgestellt sind?
Sie haben ein innovatives
und wollen selbständiger
Unternehmer werden?
Dieses Projekt wird finanziert
aus Mitteln der Europäischen
Union und des Freistaates Sachsen
onds S
& Co. K
aße 16
5 Leipz
[email protected]
w w w.t
HHL News – SUMMER 2010
Research & Prog rams
Chair of Strategic Management and Organization
Center for Scenario Planning
Center publishes first research
results on scenario planning
The Center for Scenario Planning at HHL has
published its first research results with both
an applied and a theoretical focus. The Center has written a synopsis of the book “Business Planning in Turbulent Times” which has
been released in a forthcoming issue of ZfB
– Zeitschrift für Betriebswirtschaft. The book
is edited and co-written by leading researchers in the field of scenario planning
and is a valuable read for practitioners and
academics alike. It nicely bridges the gap
between scenario theory and application.
Further results from the Center’s scenario research include a detailed description of the
approach taken to scenario-based strategic
planning and a first scenario study.
ple strategy options and takes multiple perspectives into account. Simultaneously, it
overcomes the weaknesses of traditional
scenario planning by offering a systematic
process to scenario creation that is built on
specific management tools and can thus be
implemented easily. The outcome of this approach is a core strategy which is complemented by several strategic options derived
from different scenarios. We illustrate the benefits of this management innovation on the
basis of experience gained during a project
in the German photovoltaic industry.
Center for Scenario
Roland BeRgeR
Planning ReSeaRCh
The publication can be found at:
Future ScenarioS
for the German Photovoltaic industry
Center Publishes First Industry
Scenario – The Future of the
German Photovoltaic Industry
A Scenario-based Approach to Strategic
– Integrating Planning and Process Perspective of Strategy
Prof. Dr. Torsten Wulf, Philip Meissner and Dr. Stephan Stubner
Working Paper 1/2010
Leipzig, March, 25th, 2010
Center Publishes First Working Paper
The HHL Center for Scenario Planning has
published a working paper introducing a new
approach to scenario-based strategic planning. In the paper, the Center argues that a
scenario-based approach to strategic planning can serve as a management innovation
in the field, thus having the potential to overcome the discrepancies between the two
opposing planning and process schools of
strategy. The scenario-based approach to
strategic planning builds on the strengths of
traditional scenario planning, i.e. it is an open
and creative approach that considers multi-
The HHL Center for Scenario Planning has
published a first scenario study, which focuses on the future of the German photovoltaic industry. The industry is an example of a
sector that is presently under the influence of
a large number of uncertainties that make
future developments hard to predict. On the
one hand, companies are struggling with the
German government’s recent cuts in subsidies and growing pressure from Asian competitors. On the other hand, the increasing
global awareness concerning climate change
creates new opportunities for growth. The
scenario study presents four industry scenarios for the year 2015 based on a sound industry analysis and an expert inquiry. We
hope that these scenarios inspire and help in
managing the risks and opportunities that
this dynamic industry currently faces.
HHL News – SUMMER 2010
Presentations at
conference EURAM
The European Academy of Management
(EURAM) is a professional society for scholars in the field of management. The annual
EURAM Conference is the biggest and most
important European forum for networking
and research in general management, organizational behavior, organizational theory, corporate governance, strategy and decision-making.
After passing a double-blind review process,
Professor Torsten Wulf, W. Henning Blarr,
Jutta Miksche and Philip Meißner had the opportunity to present three research papers at
the conference: “A Scenario-Based Approach To Strategic Planning – Integrating
Planning And Process Perspective Of Strategy”, “Ambidexterity And The Concept Of Fit
In Strategic Management: Which Better Predicts Success?” and “Performance Over The
CEO Life Cycle – A Differentiated Analysis Of
Short And Long Tenured CEOs.”
Thanks to these presentations and the subsequent discussions with renowned researchers, the team was able to underline the
Chair’s dedication to management research
and sharpen its profile in all the Chair’s fields
of interest. Among the scholars who attended the presentations were experts from various universities, including Professor Dr.
Frans A.J. Van Den Bosch (Rotterdam School
of Management Erasmus University), Dr. Susan A. Hill (London Business School) and
Professor Dr. Winfried Ruigrok (Universität St.
In addition to the EURAM Conference, the
Chair’s research papers were also accepted
for presentation at other leading international
conferences, e.g. BCERC – Babson Entrepreneurship Research Conference and the
AOM – Academy of Management Conference.
Research & Prog rams
Munkert, Michael J. / Stubner, Stephan /
Wulf, Torsten
Founding a company – Handbook of legal
forms in Europe
Berlin: Springer 2010
Wulf, Torsten / Stubner, Stephan
Krisenfest durch organisationale Ambidexterität: Stabil aber flexibel – was Familienunternehmen tun müssen, um zukünftige
Krisen zu bewältigen
In: Alphazirkel Forum für Familienunternehmen,
Jahrespublikation 2009, Munich: 2010
Wulf, Torsten / Meissner, Philip
Rezension zu: Rafael Ramírez, John W. Selsky &
Kees van der Heijden:
Business planning in turbulent times: New
methods for applying scenarios
in: Zeitschrift für Betriebswirtschaft, Volume 80,
Issue 3 (2010), 329
Wulf, Torsten / Meissner, Philip / von Bernewitz,
Future Scenarios for the German Photovoltaic Industry
Center for Scenario Planning
Working Paper No. 2, Leipzig 2010
HHL Working Paper No. 99
Wulf, Torsten / Brands, Christian /
Meissner, Philip
360° Stakeholder Feedback – Tool
Center for Scenario Planning
Working Paper No. 3, Leipzig 2010
HHL Working Paper No. 101
Guest lecturers
Dominic von Planta, Kai Engelmann
Booz & Co.
Michael Dorn
COO and CRO PrimaCom AG
Dr. Marcus Kuhnert
Corporate Senior Vice President, Laundry &
Home Care – Financial Director,
Henkel AG & Co. KGaA
New staff
Professor Dr. Wilhelm Simson
Professor Dr. Hermut Kormann
former CEO Voith AG
Professor Dr. Klaus Wucherer
Siemens AG
Bernd Euler
Siemens AG
Professor Dr. Michael Junker
Marc Kirchner
Roland Berger Strategy Consultants
Talks at conferences
Professor Dr. Torsten Wulf / Dr. Stephan Stubner /
Kati Roleder / Jutta Miksche
Performance over the CEO life cycle
Annual Conference of the European Academy of
Rome, Italy, May 19-22, 2010
Professor Dr. Torsten Wulf / Dr. Stephan Stubner /
Blarr Henning
Ambidexterity And The Concept Of Fit In
Strategic Management: Which Better
Predicts Success?
Annual Conference of the European Academy of
Rome, Italy, May 19-22, 2010
Professor Dr. Torsten Wulf / Philip Meissner /
Dr. Stephan Stubner
A Scenario-Based Approach To Strategic
Planning – Integrating Planning And Process
Perspective Of Strategy
Annual Conference of the European Academy of
Rome, Italy, May 19-22, 2010
Martin Lüers
Siemens Management Consulting
HHL News – SUMMER 2010
Christian Brands joined the Chair of Strategic
Management and Organization and the HHL
Center for Scenario Planning as a Research
Associate in February 2010. He graduated
from HHL where he received his M.Sc.
degree, majoring in Strategy and Finance.
In 2008, he spent a term abroad at the
Helsinki School of Economics, Finland.
Before joining HHL, he graduated in International Management and French from the
University of Bath School of Management
(UK), and gained work experience in the
German retail and consulting industries.
Professor Dr. Torsten Wulf / Dr. Stephan Stubner /
Dirk Schneider
Experience dimensions in CEO-strategy
fit research
Workshop on Top Management Teams &
Business Strategy Research
Valencia, Spain, March 22-23, 2010
Professor Dr. Torsten Wulf / Dr. Stephan Stubner /
Kati Roleder / Jutta Miksche
Performance over the CEO life cycle
Workshop on Top Management Teams & Business Strategy Research
Valencia, Spain, March 22-23, 2010
Research & Prog rams
Two awards for family
business research at HHL
At the leading international meeting on family
business research, the Family Enterprise Research Conference (FERC), a paper by HHL’s
Chair of Strategic Management and Organization, was awarded two major prizes.The paper addresses the current lack of strategic
management research in the literature on family businesses. It assesses whether family
firms are so special that traditional concepts
of strategic management cannot be applied,
or if any adaptations need to be made for the
family firm context. Based on a survey of almost 200 companies in Germany, the paper
provides new insights at the interface of
strategy and family firm research. Corinna Lindow, doctoral student at the Chair of Strategic
Management and Organization, co-authored
the paper with her doctoral supervisors Professor Dr. Torsten Wulf and Dr. Stephan Stubner. She was invited to this year’s 5th Family
Enterprise Conference (FERC) in Cancún, Mexico, to present the paper and received two
major awards for her work: the 2010 FERC
Doctoral Award for outstanding research
achievement, and the Rogers Young Scholar
in Family Business Award. The latter includes
a round-trip to Canada to present her research at the University of Toronto.
The 5th Family Enterprise Conference (FERC)
April 16-19, 2010 was attended by leading
scholars in family business research and
Ph.D. students from more than 20 nations.
All submissions to the conference were eval-
uated in a three-stage peer reviewed submission process between December 2009
and April 2010. Participants had the opportunity to discuss their research and to engage in various panels and workshops.
Heinz Nixdorf Chair of IT-based Logistics
The World of Amazon Distribution –
Theory-Practice Transfer
Amazon is the world’s largest online mail order company and is well known as a seller of
books, films, music and much, much more.
Many of us have ordered something online at
Amazon, but what happens with the items
after the order is received? On May 18, Amazon Distribution GmbH Leipzig and the Heinz
Nixdorf Chair of IT-based Logistics at HHL
gave the MSc4 students the opportunity to
obtain practical insights into complex logistics
processes and answers to the question above. Prior to leading a two-hour guided tour,
Amazon’s Area Manager Thomas Uhlich gave
the seminar participants a concise overview
of Amazon’s impressive development and its
business activities worldwide. During the tour
through the warehouse, the students then
had an explanation of the whole procedure
from the placement of an order through to actual shipment of the product. The students
also heard about the role of modern IT solutions and their contribution to establishing effective logistics processes.
Special thanks go to Amazon Distribution
GmbH Leipzig for enriching Professor Dr. Iris
Hausladen’s Supply Chain Management
course in this way.
HHL News – SUMMER 2010
Research & Prog rams
“Medicine meets Logistics”
Understanding of cells for diagnostic purposes, application possibilities and ways of
optimizing manufacturing processes in biotechnological and biomedical enterprises is
expanding dramatically and will change the
face of medicine in the coming years. However, as market implementation increases, all
these processes reach certain limits and this
is when logistical problems move into the foreground. The enormous potential of biotechnology and biomedicine will only be realized if innovative production technologies
are combined with effective logistics solutions.
There is a significant amount of biomedical
activity in Leipzig, including research institutions inside and outside the university, numerous clinics and medical laboratories, and
companies working in logistics, biotechnology and biomedicine. The excellent infrastructure in Leipzig, for example in Bio City Leipzig, and the first-rate transport links – including
Leipzig/Halle airport and the interchange between the A9 and A14 autobahns – create
conditions for sustained growth of the city as
a biomedical location. In order to coordinate
these assets in the region, the Network Biomedizinische Logistik – bm-log started its
work at the beginning of 2010. The intention
of the network is to develop and to apply
complex logistics business processes in the
field of individualized medicine and biomedi-
cal engineering. The Center for IT-based Logistics (CITLOG) is one of the founding partners in the network. Furthermore, CITLOG
and the Translational Centre for Regenerative
Medicine (TRM) submitted a successful application to the BMBF Innovationsforum to
organize an international conference in the
field of biologistics in Leipzig to highlight the
network’s activities. The congress will provide both an interdisciplinary platform for biomedical/biotechnical and logistics industries
giving experts the opportunity to exchange
experience and information, and to develop
new R&D projects. The event will take place
in May 2011 at the Congress Center Leipzig
together with the MedLogistica Congress.
If you are interested in attending the biologistics conference, please contact the Center
for IT-based Logistics Leipzig (CITLOG).
With the help of their expertise, Leipzig as an
energy center wants to take an active part in
Talks at conferences
Professor Dr. Iris Hausladen
Reference Modeling of an IT-based
Logistics System
8th Heinz Nixdorf Symposium: Changing Paradigms:
Advanced Manufacturing and Sustainable Logistics
Paderborn, Germany, April 22, 2010
Professor Dr. Iris Hausladen
Die Perspektiven der Europäischen
Verkehrspolitik – Herausforderungen für
die Logistik in Mittel und Osteuropa
Chemical Logistics Cooperation in Central
and Eastern Europe 2. ChemLog Konferenz
Leuna, Germany, April 15, 2010
Professor Dr. Iris Hausladen
Vorstellung des Heinz Nixdorf-Lehrstuhls
für IT-gestützte Logistik und Einführung in
das Thema Bio-Logistik
Auftaktveranstaltung NEMO Netzwerk
biomedizinische Logistik bm-log
Leipzig, Germany, February 16, 2010
Contacts at CITLOG:
Professor Dr. Iris Hausladen
E-mail: [email protected]
Nicole Porzig
E-mail: [email protected]
Logistics makes energy fit for the future
Politics and the media have been increasingly
concerned with discussions about the future
of energy supply in recent years. The use of
alternative energy sources, or so-called renewables, also implies a rethinking with regard to the provision and utilization of energy.
The city of Leipzig has recognized the importance of this topic and has brought together
professionals from the energy sector in the
“Energy and Environmental Technology Clus­ter” (Cluster für Energie und Umwelttechnik).
shaping environmentally conscious energy
production and consumption in the region.
Leipzig is being actively supported in its pursuit of this objective by the Heinz Nixdorf
Chair of IT-based Logistics. Professor Dr. Iris
Hausladen and her team conducted several
expert interviews within the “Energy and Environmental Technology Cluster” on current
and prospective projects in the field of energy
logistics. The aim was to identify trends and
developments in the energy sector in order to
be able to align future cluster strategies to
these changes and to firmly establish Leipzig
as an “energy metropolis” in the region.
Hausladen, Iris
Reference Modeling of an IT-based
Logistics System
in: Dangelmaier, Wilhelm; Blecken, Alexander;
Delius, Robin; Klöpfer, Stefan (eds.): Advanced
Manufacturing and Sustainable Logistics
Berlin, Heidelberg: Springer, 2010, 234-244
Hausladen, Iris
Materialwirtschaft und Produktion heute –
prozessorientiert und IT-gestützt
in: HMD – Praxis der Wirtschaftsinformatik
(2010) 272, 6-16
Company Visits
Amazon Distribution Center Leipzig
BMW Leipzig
Get to know HHL
at the Information Day on October 15, 2010
Information & registration:
HHL News – SUMMER 2010
Research & Prog rams
Guest lecture “Reverse Logistics
in the Helicopter Industry”
As a part of the course of lectures on IT-based
Logistics, on May 19, 2010, the participating
M.Sc. students had the opportunity to gain an
insight into the helicopter industry and its
reverse logistics. Martin Lang is the engineering
director in the maintenance, repair and overhaul
sector at Eurocopter Deutschland
GmbH, and he gave an impressive
introduction to the challenges and
difficulties of maintaining helicopters while meeting exacting
customer expectations. He outlined
the role of intelligent information
systems in efficiently supporting
maintenance order processing
based on the different service
contracts available.
On June 18, 2010, Bernd Sondermann gave
practical insights into “Challenges faced by
logistics service providers ... and how IT can be
part of the answer”. The Principal Consultant of
Steria Mummert Consulting AG discussed the
topic with full-time MBA students of Professor
Dr. Iris Hausladen`s course “IT-based Logistics”.
Chair of Economics and Information Systems
Field Project: Models for citizen
participation in Central Germany
From left to right: Thomas Auerswald (Volksbank
Leipzig), Tatiana Bazhenova, Denise Engel, Igor
Stepanishchev, Svenja-Beatrice Bücherl (all: MSc4)
Maik Harles (Sakosta SKB), Alberto Chullen Lamas
(Chair of Economics and Information Systems), Stefan
Frisch (MSc4), Raik-Steffen Ulrich (TMLFUN), Achim
Schillak (Agil Projektmanagment)
In the winter term 2010, the Chair of Information Systems together with five students from
the MSc4 class managed a field project in cooperation with Volksbank Leipzig eG, Thüringer Ministerium für Landwirtschaft, Forsten,
Umwelt und Naturschutz (TMLFUN), SakostaSKB GmbH and Agil Projektmanagement,
in the area of renewable energy.
The objective of this field project was to explore the investment potential of several renewable energy forms in the region of Central
Germany. Furthermore, a special characteristic of this project was the interest of the project partners to successfully include the community as investing partners in this project. In
order to achieve these objectives, the project
was broken down into several milestones,
which included an analysis of the political environment, a compilation of the relevant compensation schemes and funding opportunities
for renewable energy production, the calculation of the average costs of alternative energy
plants and a profitability analysis of the different energy forms, a comparative assessment
of legal forms (e.g. GmbH, e.G.) and the selection of a preferred option from the perspective of broad public participation.
Through the in-depth discussions with the
partners, our students gained invaluable insights into the process of developing a renewable energy investment project. At the same
time, they used the field project to prove their
management skills and to apply the knowledge gained during the Master of Science
Alberto Chullen
HHL News – SUMMER 2010
Talks at conferences
Professor Pierfrancesco La Mura, Ph. D.
Group Bargaining with Incomplete
32nd Bosphorus Workshop on
Economic Design,
Bodrum, Turkey, July 3-10, 2010
Ekaterina Demidova
Group Bargaining with Incomplete
The fourth international conference
on Game Theory and Management
St. Petersburg, Russia, June 28-30, 2010
Papers in Refereed Proceedings
Demidova, Ekaterina / La Mura, Pierfrancesco
Group Bargaining with Incomplete
in proceedings:
The fourth international conference
on Game Theory and Management
St. Petersburg, Russia, June 28-30, 2010
Research & Prog rams
Dr. Werner Jackstädt Chair of Economic and Business Ethics
What are you working on at the
moment, Professor Suchanek?
“At the moment, I’m concentrating on research on ’everyday ethics’. My goal is to put
what are often rather abstract concepts in
ethics, such as responsibility, fairness, integrity, sustainability and others, into an applicable form for use in solving the concrete
problems that enterprises have to deal with
every day. The main focus is on the different
areas of conflict that businesses and decision-makers find themselves facing again
and again. Ethics doesn’t offer any simple
Suchanek, Andreas
Die Goldene Regel als Grundlage
werteorientierter Unternehmensführung
in: Meier, Uto; Sill, Bernhard (eds.): Führung.
Macht. Sinn. Ethos und Ethik für Entscheider
in Wirtschaft, Gesellschaft und Kirche, 2010,
Suchanek, Andreas
Dem Gemeinwohl verpflichtet
in: Rheinischer Merkur 5 (2010) 4.2.2010
Suchanek, Andreas
Vertrauen und die Verantwortung
von Unternehmen
in: Zeitschrift vom Stifterverband W & W 1
Talks at conferences
Professor Dr. Andreas Suchanek
Zu Wert und Unwert von Verhaltensregeln
24. Passauer Arbeitsrechtssymposiums
Passau, Germany, June 17-18, 2010
Professor Dr. Andreas Suchanek
53. Jahrestagung des Verbands der
Krankenhausdirektoren Deutschlands
Trier, Germany, June 10-11, 2010
Professor Dr. Andreas Suchanek
Alltagstaugliche Ethik als Grundlage
vertrauensvoller Zusammenarbeit
Führungskräftetreffens der VNG
Potsdam, Germany, June 9, 2010
solutions for these kinds of difficulty, but it
does give an indication of the kind of consequences a principle such as ‘promises
should be kept’ as the expression of a
company’s responsibility can have throughout
the company’s areas of operation. My work
and the everyday ethics idea is intended to
contribute to giving students, practitioners
and managers an impulse for effective and
responsible leadership.”
Professor Dr. Andreas Suchanek
Fragen der Wirtschafts- und
Informationstag der Dr. Jürgen Meyer Stiftung
Köln, Germany, May 31, 2010
Professor Dr. Andreas Suchanek
Ethik in der Wirtschaft?
8. Landeswettbewerb von SIFE Germany
Essen, Germany, May 27, 2010
Professor Dr. Andreas Suchanek
Die Bedeutung einer Alltagstauglichkeit von
Ethik und Nachhaltigkeit in der Wertschöpfung
8. Dienstleistungstagung des Bundesministeriums für Bildung und Forschung (BMBF)
Haltern am See, Germany, May 26-27, 2010
Save the date!
HHL Discourse in October 2010
On October 7, 2010, at 7 p.m. the annual
HHL Discourse will begin. This year it is
­organized by the Dr. Werner Jackstädt
Chair of Economic and Business Ethics.
“You mustn’t do that” is the topic of the
­ iscourse, which will focus on the
challenges of corporate responsibility. You
are cordially invited to discuss with us!
New staff
Professor Dr. Andreas Suchanek
“Economics and Ethics”
Jahrestagung der estnischen Ökonomen
Tartu, Estonia, January 29-30, 2010
Professor Dr. Andreas Suchanek
„Über die Unverzichtbarkeit
der Ethik in der Wirtschaft“
Wirtschaftsakademie Magdeburg Konferenz
„Wirtschaft und Ethik – Was soll ich tun?“
Magdeburg, Germany, January 28, 2010
Professor Dr. Andreas Suchanek
Vertrauen und die Verantwortung des Unternehmens Vorstandssitzung des Stifterverbandes für die Deutsche
Berlin, Germany, January 21, 2010
HHL News – SUMMER 2010
Jan Sammeck joined HHL’s Dr. Werner Jackstädt
Chair of Economic and Business Ethics as a
Research Associate in February 2010. He
has been working on his dissertation in the
area of industry self-policing arrangements
since June 2009. Sammeck is an alumnus
of HHL’s MSc1 class, having completed his
Master’s degree in July 2008. Prior to
joining the Chair, Sammeck worked in
consulting, focusing on pricing for banking
and consumer goods.
1st European MBA Career Fair
sulting GmbH & Co. KG. The fair is a development of the MBA Career Fair that was held
last year for the sixth time and continues to
represent an excellent opportunity for companies to meet international MBA graduates.
This year the fair was again organized by
GISMA Business School and HHL. Other
participating business schools were Audencia Nantes School of Management (France),
Goethe Business School (Germany), MIP
­Politecnico di Milano (Italy) and Warwick
Business School (United Kingdom).
The 1st European MBA Career Fair, a joint initiative of leading European business schools,
took place in Berlin at the bcc Berliner Congress Center on April 26, 2010. Almost 130
students with multicultural origins and diverse academic backgrounds in fields such
as engineering, business studies and social
sciences used the chance to meet with recruiters in workshops, pre-arranged personal
interviews, presentations and an open forum.
The participating companies included Alpiq
Energie Deutschland AG, Axel Springer AG,
Barilla, BASF SE, DHL Vertriebs GmbH & Co.
KG, Johnson & Johnson GmbH, LSP Con-
The 1st European MBA Career Fair is also
part of the collaboration between Audencia
Nantes, HHL and MIP, the three business
schools which formed the JOINUS business
education alliance in April 2009. By sharing
their expertise, best practices and corporate
relations, the schools provide their MBA students and graduates with superior services,
increased networking possibilities and a collaborative alumni network, and they also better address the evolving needs of businesses.
Consulting firms continue to be the largest employers at HHL –
McKinsey is the employer of choice for HHL’s Diploma students
In summer 2009, Class 22 of the Diploma
program (K22) graduated from HHL. Their
placement statistics reveal an increased interest in the consulting sector and so McKinsey & Company, Inc. took top position in
2009 among the employers of HHL’s Diploma graduates, with a share of 10.7%. It was
closely followed by Roland Berger Strategy
Consulting GmbH and h&z Unternemensberatung AG (both 7.1%). The diagram shows
the distribution of the students’ placement in
2009 and the statistics for 2008 for comparison purposes. The figures illustrate the following developments:
• With a share of 50% in 2009 and 38.9% in
2008, consulting firms continue to be the
largest employers, as in previous years.
• With 10.7% each, start-ups and family
businesses shared second place with postgraduate studies and the industrial sector.
• The proportion of HHL Diploma graduates
employed in the banking and financial sector
fell to 7.1% in 2009 (2008: 16.7%), down to
fifth place.
• In 2009, the option of starting a career in
companies in the services, media and telecommunications industries was chosen by 3.6%.
• The proportion of graduates taking up a
position in the accounting sector fell from
5.6% (2008) to 0% (2009).
Placement Statistics of the Diploma program in 2008 and 2009
Start-ups, Family Business
Postgraduate Studies
HHL News – SUMMER 2010
2nd HHL Start-up Career Fair
Company presentations are an integral part
of life for HHL students. They provide an excellent opportunity to make contact with
HHL’s leading corporate partners and find
out about career opportunities. On April 7,
2010, almost 80 students met HHL start-ups
which for the second time presented themselves as employers. Hitflip/Hitmaster, KeyX,
Dr. Stephan Stubner, Academic Director of the Program for International Entrepreneurship:
“We try to stimulate students’ entrepreneurial
spirit through networking events such as the
HHL Start-up Career Fair.”
New staff
Mister Spex, and trivago provided an insight
into their day-to-day business, the challenges they faced during the early stages of
founding and, of course, career opportunities
for HHL students and graduates. In addition,
the intention of the event – organized by Dr.
Stephan Stubner, Academic Director of the
Program for International Entrepreneurship,
and HHL’s career service – was to inspire
students to start their own business some
day. With over 90 start-ups founded by its
graduates, HHL is one of the premier breeding grounds for future entrepreneurs.
After the presentations, students had the
chance to network further with HHL entrepreneurs and to exchange future business
ideas during a get-together over a delicious
barbecue and a few drinks. In view of the positive response to the event among both students and entrepreneurs, HHL is planning to
hold the next HHL Start-up Career Fair on
September 22, 2010.
Natalie Nürnberg joined HHL in April 2010.
Standing in for Kati Dorsch during the
latter’s maternity leave, she supports the
Department of Corporate Relations / Career
Service as HHL’s career service manager.
She graduated from the Otto von Guericke
University of Magdeburg with a Diploma in
Psychology and then worked as a recruiter
for companies in the construction and
service industries. During her studies, she
spent time in Paris and undertook an
internship at goFluent.
HHL’s entrepreneurs
In 2004, Markus Weigl (MSc4) founded his
own company Hochzeitstauben-Sachsen.
HHL news talks with the 25-year old from Mittweida/Saxony about his inspiration and ideas
regarding his successful business model.
HHL news: Your business idea seems
quite unusual. How did it all start?
I have been breeding homing doves since I
was 14 years old. With the help of the earth's
magnetic field a dove of this type is able to
navigate hundreds of kilometers to fly home
to its mate. I found the intelligence and loyalty
of these small creatures fascinating from the
very beginning and that is why I decided to
breed them.
While I was doing an internship, a colleague
asked me if I could arrange for a dove release
at a wedding. The guests liked the idea of a
white wedding dove ceremony so much that
I started receiving further bookings. That was
the start of Hochzeitstauben-Sachsen.
HHL news: How do you intend to expand
your business model in the future?
We rely on local pigeon lofts to serve weddings in every large city. Each loft is integrated into our organization and provides us with
white doves. Currently, we operate lofts in
four large cities, namely Chemnitz, Dresden,
Halle and Leipzig, and have over 700 white
doves. After starting at HHL, I begun to expand with lofts across Germany. In the longer
term, it’s my vision to go international and
provide wedding doves in Vienna and Paris,
for example.
HHL News – SUMMER 2010
HHL news: With more than 90 successful
start-ups, HHL has made a name for itself
as an academy for entrepreneurs. How
have you personally benefited from the
focus on entrepreneurship at HHL?
First of all, I really like the entrepreneurial spirit
at HHL. The professors and lecturers provide
important knowledge and skills needed to run
a start-up and encourage us students to do
so. The open door policy invites critical discussion of business opportunities with the
professors. Moreover, HHL provides a dense
network of founders and potential investors.
This facilitated getting into contact with likeminded people. I think this knowledge and
access to the HHL network provides a sustainable basis for being a successful entrepreneur.
HHL news: In one sentence: what makes a
start-up like yours successful?
The aspiration to deliver the highest value to
our customers and make the most wonderful
day of their life a dream come true.
HHL news presents a selection of HHL’s young entrepreneurs and asks them:
What is the biggest challenge in your job? offers an efficient way
for companies to market their products on social media networks by
identifying relevant multipliers within
their target group.
One of the biggest challenges in my
opinion is 1) to separate important
from less important to-dos and then,
2) Do only the important ones.
Mario Körösi (Doctoral student)
Grazia Equity provides ambitious entrepreneurs with start-up capital, relevant advice and powerful networks to
help them to fulfill their dreams and
turn them into real companies that
The challenge is the day-to-day work
helping portfolio companies weather
the tough conditions and navigate
them to safer, fertile shores...
But this is also fun!
Jochen Klüppel (K1)
trivago is Europe's largest meta
search site for hotel rates and hotel
reviews. It compares prices of more
than 50 online travel agents and suppliers for 400,000 hotels worldwide.
Users find the ideal hotel in their chosen destination and always book at
the best available rate.
For me it is challenging to put structures into place: team spirit and creativity are very important, especially in a
start-up company. Once a company
grows larger, the implementation and
organization of processes becomes
equally crucial. People need to buy in
to that change.
Malte Siewert (K6)
Brief news on entrepreneurs
Business Plan Competition Winter 2010:
The Business Plan Competition Winter 2010
ended with a final presentation in front of Jan
Borgstädt, Principal at venture capitalist BDMI,
and Marcel Radzei (K5), founder and CEO of The jury was impressed by all
presentations but had to choose a winner in the
end. Hyalocart, a company founded at the Translational Centre for Regenerative Medicine (TRM)
Leipzig, presented its business plan developed
together with a team of HHL students, and was
voted the winner alongside trainmyself, another
start-up where HHL students developed the
presentation together with the founder.
In Spring 2010, Grazia Equity hosted the “Grazia
Equity Business Plan Competition” for the eighth
consecutive year. As the event took place only
after the editorial deadline for HHL news, please
expect to read more about it in the next issue.
New HHL Start-ups:
Ethnic Stay: HHL alumnus Deepak Suryanarayanan (M9) returned to his home country of India
after graduation but took the entrepreneurial spirit
with him. He opened up a “serviced apartments”
enterprise in Coimbatore called “Ethnic Stay”. So
if you are in the region, do consider staying there. Serial entrepreneurs and HHL
alumni Daniel Grözinger and Sven Schmidt (both
K4) present, their latest endeavor.
After a successful exit from (and
prior to that, they have now started a
new player in the online yellow pages market. aims to redefine the yellow pages
market in Germany. Recently launched with
nearly four million entries, the website will soon
provide significantly more information about
companies than similar sites.
típica Mexican restaurant: HHL alumnus René
Brembach (K14) co-founded an authentic Mexican taquería offering fresh tacos, alambres and
other Mexican dishes in a modern and stylish
atmosphere. You can find the first restaurant in
the center of Berlin.
MyCityDeal UK: HHL graduate Christopher Muhr
(MSc2) has started MyCityDeal's UK branch as
CEO. After supporting several startups within
the Rocket Internet sphere (including as CEO
of ecareer), Christopher has now taken on the
challenge of independently growing the business
of MyCityDeal out of his London base.
Plinga: HHL alumni Johannes Kreibohm (K21)
and Thorsten Lubinski (K6) co-founded the
social games venture Plinga. Plinga develops
and publishes games which let users play
online with their real-world friends using the
infrastructure built by social platforms such
HHL News – SUMMER 2010
as Facebook or VZ Networks. The start-up is
funded by Rocket Internet, the business builder
of the Samwer brothers' European Founders
Fund where numerous HHL alumni are currently
working developing new ideas.
Awards: is best health portal in Germany:
Computerbild tested health portals in Germany
and found that, the start-up founded
by HHL graduate Christian Angele (K20), offers
the best services.
Stiftung Warentest crowns
­best price comparison site for flights in
German consumer test service Stiftung Warentest recently assessed online booking portals.
Among the seven services tested, billigflieger.
de, the meta price comparison engine for flights
founded by HHL alumnus Marcel Radzei (K5),
delivered the best prices and was crowned test
German Wunderkinder: HHL alumnus
Karsten Schröder featured:
Finance portal recently featured
successful German hedge fund managers.
Among the most successful (Barron's ranking
#23) is HHL alumnus Karsten Schröder (K8) with
his own fund Amplitude Capital.
Backg round
Prospective students of HHL’s M.Sc. class 2035
Gregor Dienemann
(* 24.8.2009)
Parents: Ulrike Maria Dienemann
(Head of Buiness Development)
and Uwe Dienemann
Jannika Twork
Parents: Kati Dorsch
(Career Service)
and Markus Twork
Toni Fleischer (*20.01.2010)
Parents: Dorothee Maria Fleischer
(Student Affairs/ Examination
Office) and Jens Ruske
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,
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,
Beatrice Deutschland GmbH, Paderborn
Festo AG & Co. KG, Esslingen-Berkheim
Stadt- und Kreissparkasse 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,
E. Breuninger GmbH & Co., Leipzig
Deutsche Bahn AG, Berlin
Alte Leipziger Lebensversicherung aG,
Dr. Siegfried Luther, Gütersloh
Chamber of Commerce and Industry Leipzig
Professor Dr. Dr. h. c. Karl-Heinz Forster,
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,
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-WittgensteinBerleburg, Bad Laasphe
Uniplan GmbH & Co KG, Cologne
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
Stephan Schröter, Leipzig
Kinowelt GmbH, Leipzig
Weber Rohrleitungsbau GmbH & Co. KG
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
HHL News – SUMMER 2010
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,
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 Aktiengesellschaft,
Veolia Wasser GmbH, Leipzig
Daniel Kirchhof, Leipzig
Irena Tomys, Mirkow
Professor Dr. Bernhard and Gisela Schwetzler,
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,
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
Account number: 171 991 300
IBAN: DE90 8607 0000 1719913 00
Purpose of payment: Zustiftung/Endowment
Backg round
Upcoming events 2010
My way in…
An American in Leipzig
Like many MBA students, my route to HHL
was full of twists and turns. In fact, the focus
for the majority of my life was on the performing arts and not on business. I earned a Bachelor of Fine Arts in Dance Choreography
from Arizona State University in 2002 and have
spent the past 8 years working and performing
Farewell to Barbara Oetger,
welcome to Sabine Reich
After 43 years at the
Leipzig, Barbara Oetger
retired on June 30,
2010. We would like to
express our gratitude to
her for her dedication to
HHL, whether it was as
part of the small “founding” team which shaped
the “new” Handels­­hochschule in 1992, as a
member of the HHL team during the 1st Corporate
Run in Leipzig in 2008, or as a singer in the fare­well choir for former Dean Professor Wies­meth.
We wish her all the best for her well-deserved
retirement. She is succeeded by Sabine Reich,
who worked as an accountant in a data proces­s­ing company before joining HHL. In her leisure
time, she enjoys classical dancing at a dancing
school in Leipzig. Welcome aboard, Sabine Reich!
on both sides of the U.S. in San Francisco and
New York City. In 2005, I started working outside of the art world for the first time and discovered that I had some talent in, and actually
enjoyed, business. With the economic downturn of 2008/09, I found myself, like many people, wondering what to do next. Having never
had a basic business education, I started looking at MBA programs and after a friend men­
tioned the option of studying in an international
program in Germany, I realized, “Here is a
chance for an education and some adventure.” HHL was at the top of my list not only
because of the reputation but because I'd visited Leipzig back in 1997 when stationed in
Germany with the U.S. Army. The international
nature of HHL has more than fulfilled my expectations and this past year has been an adJared Cardon (M10)
venturous education.
New staff
V.I.S.D.P.: Professor Dr. Arnis Vilks, Dean of HHL
September 3: HHL Part-time Programs Info Session
September 8: Seminar on Logistics with Jugend
Aktiv Mitteldeutschland e.V.
September 14: Enrollment Ceremony with keynote
speaker Professor Dr. Michael Junker, Managing
Director Financial Service Accenture Germany
September 16-17: Advanced Management
Program | Negotiation | HHL Executive
September 16: Unternehmensbewertung:
Art or Science? | HHL Executive
September 28: HHL Award: Ready for Business,
October 7: HHL Discourse (see page 43)
October 15: HHL Information Day
October 15-17: HHL Alumni Homecoming 2010
October 16: GMAT Seminar
November 1-2: Advanced Management
Program | Strategic Innovation | HHL Executive
November 1-5: PMP® certificate project
management preparation seminar | HHL Executive
Theresa Fischer joined HHL’s International Office
in January 2010, and the Student Affairs/
Examination Office in April. She graduated
from the University of Leipzig, holding a
Diplom in Political Science as well as a
Diplom in Public Administration. During her
studies she spent a year abroad at the
Université de Lausanne, Switzerland.
HHL on tour 2010
September - October: QS World MBA Tour
(Germany, Latin and North America)
October 2: e-fellows MBA-Day, Frankfurt
November 24-25: Absolventenkongress, Cologne
Application deadlines for
HHL’s study programs
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:
September 3: 2nd International HHL
Manager Golf Cup
PHOTOS: HHL, A. Simmelbauer, SV SparkassenVersicherung,
Frequency: twice a year
Circulation: 5,000
ISSN 1433 934X | ISSN 1867-8017
Part-time M.Sc. Program /
Part-time MBA Program:
November 1, 2010 (starting January 2011)
Thank you to all contributors and proofreaders of this edition.
Full-time M.Sc. Program: June 20, 2011
Non-EU applications: May 30, 2011
editors: Executive Management of HHL: Professor Dr. Arnis
Vilks (Dean), Dr. Judith Marquardt (Chancellor)
Editorial Board: Volker Stößel (MBA), Jana Vogel
concept, AdvertisEments: WSB Werbeagentur GmbH
Neumarkt 20 · 04109 Leipzig · Germany
Tel.: +49 341 141000 · Fax: +49 341 1410014
HHL News – SUMMER 2010
Full-time MBA Program: June 30, 2011
Non-EU applications: May 30, 2011

Similar documents