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01 HHL NEWS winter 2012/13
Annual Enrollments
Increased by 50%
1
HHL’s M.Sc. Program
is Ranked No. 1
in Germany
65
The Alumni of HHL
are Living in 65 Countries
NEWS
LEIPZIG GRADUATE SCHOOL OF MANAGEMENT winter 2012/13 WWW.HHL.DE
First Goals Reached
Recently, HHL Dean Professor Dr. Andreas
Pinkwart announced the first positive
summary of the goals reached with respect to HHL’s innovate125 Future Concept:
_ Increase in annual enrollments by 50%
since 2010/2011.
_ Major leap in the current global Financial
Times Masters in Management Ranking
from no. 3 (2010) to no. 1 in Germany and
from no. 39 (2010) to no. 11 in the world. In
this ranking, HHL is no. 1 worldwide in
the focal point of Entrepreneurship and
no. 2 globally in the specialization Corporate Strategy.
_D
oubling of third-party funded
professorships.
_T
eam of Program Directors strengthens
HHL’s M.Sc., MBA, Executive Education,
as well as doctoral program.
hhl.de/futureconcept-innovate125
campus
New HHL Research
Report Proves
Excellence in Theory
and Practice
HHL published its 2012 Research Report. It
is embedded in the new HHL Future Concept. HHL Dean Prof. Dr. Andreas Pinkwart
says: “With our innovate125 Future Concept, we aim to sharpen our research profile on a long-term basis. To achieve this, we
further developed our scientific structure
to systematically consolidate our strengths
and form new research focuses. One part of
our strategy is to introduce a new type of
research report presenting this new group
structure and the new cross-group centers.”
Rethinking Leadership
Dynamic Competition
and Sustainability
Companies worldwide are currently facing
a situation in which they must remain competitive in order to secure their existence on
a long-term basis but also must accept responsibility and contribute to society or the
environment. In many cases, these circumstances often lead to conflicts over goals and
decisions which make company leaders face
challenges of major importance.
Consequently, crucial questions must be
discussed: How distinctive is the conflict between competition and sustainability? How
should companies react to requirements
and challenges arising from this situation?
What are the consequences for company
management? What could a future leadership model look like?
The 2012 HHL Forum on November 21 and
22, 2012, is dedicated to finding answers
to these questions. In the process, the following three leadership-related topics will
be the focus of the discussions: financial
reporting, capital markets and future planning. Outstanding personalities from the
economy and science are involved in the
event supported by Stifterverband für die
Deutsche Wissenschaft, the Heinz Nixdorf
Foundation, MITGAS, enviaM, Blue Corporate Finance, and FUNDSTERS. With this
event, HHL wants to set the course and develop sustainable leadership strategy by creating a “Leipzig Leadership Model”.
The first topical module is to discuss the
potential for conflict between competition
and sustainability in a critical manner from
an economic standpoint. It will be followed
by talks on how certain aspects of sustainability may and should be embedded in competitive reporting before acknowledging the
regulation of capital markets as an area of
conflict. The HHL Forum will finish off with
a demonstration of sustainable future planning through various scenarios.
November 21 / 22, 2012
2012 HHL Forum
Rethinking Leadership:
Dynamic Competition and
Sustainability
hhl.de/research-report-2012
hhl.de/hhl-forum
René Obermann, CEO of
Deutsche Telekom AG:
Georg Fahrenschon, President of German
Savings Banks Association, DSGV:
“Rethinking leadership – dynamic competition and sustainability are not a contradiction for me. The telecommunications
market is without a doubt a prime example
for dynamic competition. New market participants basically arise from nothing, often with completely new business models.
A company can only continue to exist if it
adjusts to the changes in competition, if
it becomes more flexible, faster and more
innovative. Motivated employees are essential for that; employees who feel good
about working for that company and who
come with all sorts of different experiences – men and women, young and old, people
from different cultures. In short: sustainable and responsible company leadership
is virtually a precondition for economic
success.”
“Regulation of the financial sector must deal
with the risks as a starting point. The financial crisis has shown that we need more
regulation: Unregulated financial markets
greatly endanger stability. The financial sector has seen increasing deregulation, especially in the 1990s – a course which must be
changed now.”
Professor Dr. Dr. h.c. Jörg Baetge,
Leader of the Baetge research team,
University of Münster:
“Since operating economically became a
competitive factor for companies, the various stakeholders have demanded an account on aspects of economic, ecological and societal sustainability from the
company management. Accordingly, the
German Commercial Code prescribes reporting of non-financial performance indicators in group reports. If applied correctly and exemplified by the management,
the orientation towards Sustainable Development – Key Performance Indicators
by Dr. Axel Hesse may play a vital role in
sustainable company leadership.”
Sabine Busse, Vice President Dedicated to
Customers Program, Alstom:
“Working with disruptive scenarios has
shown us that statements such as ‘This will
never happen’ or ‘I am convinced that the
future will hold exactly this development’
have very little substance. We would be
wrong to assume we are able to control the
future. What we can do, however, is to think
it through and understand worst-case scenarios as an opportunity by preparing for
them early on.”
Karsten Schröder, Hedge Fund Manager,
CEO Amplitude Capital:
“I have always supported the idea of regulation for fair, secure and stable markets.
It promotes a functional financial system
while avoiding bubbles and crises. However,
the regulation initiatives suggested by German politicians are far from this concept
- they only serve the purpose of catching
votes in a populist manner and therefore are
a threat to a free capitalist world.”
02 HHL NEWS Winter 2012/13
CAMPUS
“My Resarch is
grounded in Practice”
Professor Vasanthi Srinivasan is HHL’s
new Holder of the ICCR Chair of Corporate
Responsibility & Governance. The chair is
kindly supported by the Indian Council of
Cultural Relations (ICCR), an institution
affiliated to the Indian Ministry of External Affairs. In an interview with HHL
news, Professor Srinivasan, who acted as
Associate Professor at the Indian Institute of Management Bangalore (IIMB)
and as Chair of the IIMB Center for Corporate Governance and Citizenship, gives
insights into her academic work.
How would you describe your journey
into academics?
Professor Vasanthi Srinivasan: I did my
MBA in Human Resource Management and
then worked in the information technology
industry in Bangalore for five years. Afterwards I did my Ph.D. looking at how human
resource management departments can
contribute significantly to the strategy of
the business. After I finished my Ph.D, I became a consultant designing and developing interventions for the HR departments
of large organizations. I am an applied researcher. I look at the problem and then I look
at the theory that can explain the problem
and then I go into the field and do my data
collection, come back and theorize. Therefore, much of my academic research is context specific with significant implications
for managers, who I believe are consumers
of research from the business schools.
How is your academic research linked
to the practice?
Professor Vasanthi Srinivasan: Over the
last ten years the area I have worked on is
diversity n India, women’s participation in
the workforce has increased significantly. Yet, global research on women shows
clearly that the talent pipeline of women
in senior executive positions is not as high.
Would Indian women’s participation differ
significantly from the global trend? Some
of the research questions that I focus on
are: What do organizations do to engage
women more effectively? How can women
pursue careers in a manner that the human
capital is effectively utilized? And how do
the societal and the structural elements
support or hinder women to continue at the
workplace? Currently, with my colleagues I
am researching on women on boards in India.Another area of interest is caste-based
diversity in Indian companies. As I chair
the Center for Corporate Governance and
Citizenship at the IIM in India, I also focus
on “How do we make young MBAs more
sensitive to creating responsible businesses and what is the role of business school
faculty in this area? We teach functional
areas of management very effectively but
have we created responsible leaders for the
future? I run a website for anyone interested in ethics, responsibility and governance called www.teachcsr.com. The site
has about 600 members, many of whom are
academics.
Record: Number of
Enrollments at HHL
Increased by 50%
The enrollments for the fall of 2012 embody a
new record for HHL Leipzig Graduate School
of Management. Compared to last year’s 126
matriculations, Germany’s oldest business
school can tally 186 enrollments in 2012. HHL Dean Prof. Dr. Andreas Pinkwart said:
“Compared to the annual enrollments in
previous years, the number of enrollments
for 2012 could be increased significantly
by 50 % through the offer of additional programs and classes. In addition, the faculties
and their internationalization have further
developed with HHL’s high quality standard
being a constant factor here. The increased
internationality at HHL is also very gratifying. Almost a third of all students at HHL
come from abroad. We currently have students from 25 countries at our campus. We
reached peak numbers in this year’s international full-time MBA program, with over
80 % of course participants coming from
outside of Germany. The increase in student
numbers as well as the international popularity of our Business School confirm the
direction of the HHL strategy concept innovate125, which was developed over the past
one and a half years.”
The enrolment celebrations for all new students of the Master of Science in Manage-
ment, MBA and the Doctoral Program took
place on Wednesday (September 12, 2012). More than 50 exchange students from 17
countries were also welcomed on the HHL
campus. In his lecture Rolf Schmidt-Holtz,
the former Chairman of the Bertelsmann
Music Group (BMG) as well as Chairman of
Just Software AG, gave the new HHL students the following advice: “If you want to
manage a company it is your creativity that
counts. Creativity is eight times more important than strategy!” In connection with
successful leadership Schmidt-Holtz elaborated: “It is not your or the investors money
that make a company successful, it is the
people. If you want to lead a company you
must be able to communicate with people
and to drive them forward.”
What would you like to contribute to
the life at HHL and what would you like
to get out of your German experience?
Professor Vasanthi Srinivasan: So far, my
impressions of Leipzig and HHL have been
extremely positive. I find Leipzig a warm
city with extremely helpful people. I have
been quite fortunate to be inducted into
HHL in a way that one could call a best
practice in HRM to bring in international faculty. Having someone like Ms. Beate
Kanheisser, with her wide experience to assist in my settling in is a privilege. I have begun teaching and did my first few sessions
in the MSc8 class. The students have been
highly engaged and participative with several questions on cross cultural aspects.
When you enter a new culture, you discover
more about yourself. I suppose, this is the
phase that I am going through.
I start with what I would like to take away:
It is actually the first time that I have moved
out of India for a year. Usually I do shorter
teaching assignments and travel. So for me,
staying a year at a school in a new city allows you to think about yourself and what
you did in ways that can be very different
from what you do back home. Secondly, in
the past few years since the financial crisis, I think there have been larger questions I suppose several of us have to ask.
We are living in a global economy. How are
we looking at those questions, whether it is
human resource management, corporate
governance or corporate responsibility – in
a manner that is holistic and interconnected? One of the expectations that I have is
to get more of that clarity, as a teacher and
researcher on how to look at several global problems in an interconnected world.
Thirdly, I think Germany has a place in the
global economy. This year we celebrate 60
years of Indian-German diplomatic relations. When I got offered the Chair here at
HHL, I found that there is a lot of interest
by German companies in India for research.
I have several invitations from companies
in Germany to visit their facilities. The outcome of these talks and research, I believe
would help to develop a research agenda
which I would like to contribute to HHL.
Apart from understanding India I would be
able to bring a distinct South-East-Asian
view in teaching, research or executive education. I have insights on South East Asia
through my participation in several international research projects.
This truly has to do with intercultural
management. A topic, which you are
also teaching at HHL?
Professor Vasanthi Srinivasan: In the fall
term I am teaching International Management Competencies with the intention that
the students can look at themselves as managers in a global context. No matter where
the student will work in the future, be it in
Qatar, Ukraine or Sydney, they will require
cultural intelligence which will allow them
to focus on similarities to build relationships and become effective leaders while
acknowledging the differences in cultures.
2nd Day of the Welcome Event
for New HHL Students:
The Code of Responsible
Conduct for Business
The 2nd day of the Welcome Event was organized by the Dr. Werner Jackstädt Chair
of Economics and Business Ethics. Thursday, September 13th, 2012 drew special attention to responsible economic conduct –
entirely in accordance with HHL´s mission
statement, “We educate effective, responsible and entrepreneurial business leaders
through outstanding teaching, research
and practice”. The intense but fruitful day
was made possible by the generous support
of our sponsors RWE AG, Klöckner & Co SE
and Deutsche Telekom AG.
Wolf-Rüdiger Grohmann, the former Director of Corporate Affairs at BP Germany,
offered the students some insights from
business practice. Speaking on the topic of
“Code of Conduct: Paper or Practice?” Mr.
Grohmann emphasized the importance of
responsible role models and actions as opposed to sweeping declarations of responsible behavior which are not, and in the face
of complex reality, often cannot be maintained in the company’s daily operations.
After a lively discussion of the complexities of combining principles with practice,
Professor Dr. Suchanek (left) returned to
the stage to present the “Code of Responsible Conduct for Business” (“Leitbild”). He
stressed the importance of understanding
and managing the potential for conflict due
to society’s expectations of business and
the restrictions of the competitive environment which businesses operate in. The concluding discussion then turned to the issue
of which societal expectations business can
reasonably be expected to fulfill.
In the afternoon, teams of students from
the new MBA and Master of Science classes
and this semester’s intake of exchange students created presentations in response to
several scenarios dealing with the “Leitbild”. A number of these scenarios were
conceptualized by the sponsors RWE and
Klöckner & Co (as “Leitbild” signatories)
and students’ ideas and suggestions were
delivered to these firms.
HHL NEWS Winter 2012/13 03
campus
CAMPUS
“Think Outside the Box!”
At the Graduation Ceremony on September 1, 2012, HHL news talked to speaker
Rainer Neske, member of the Management
Board of Deutsche Bank AG. As Head of
Private & Business Clients, he is in charge
of Deutsche Bank's global franchise with
28 million private and business clients and
more than 40,000 employees worldwide.
Financial Economics. Kenneth Rogoff and
Robert J. Shiller have been among the world
renowned economists to have received the
prize so far. Furthermore, Deutsche Bank
supports the House of Finance at Goethe
Universiy Frankfurt, Luxembourg School of
Finance and the renowned Bocconi University in Milan.
As part of its support for HHL through
its foundation, Deutsche Bank Stiftung,
Deutsche Bank has sponsored the Chair
of Innovation Management and Entrepreneurship since April 2011. How important
is this ongoing exchange between business and research and educational institutions for Deutsche Bank?
What memories do you have of your own
studies, and how do you assess the changes the university world has seen since?
Rainer Neske: Deutsche Bank attaches
great importance to the exchange between
business and academia. Our commitment to
education is therefore based on support for
pure and applied science and international
dialogue, with a focus on research on issues
of global relevance in economics and finance.
We honor outstanding achievements in these
fields through the Deutsche Bank Prize in
Rainer Neske: I studied IT and Business
Administration in Karlsruhe. Two subjects simultaneously – that was a tough
program, of course. Nonetheless, I enjoyed my time at university very much. After graduating, I followed the changes in
the university world mainly from an outside perspective. In my opinion, the development has been a very positive. Firstly, successful private universities, were
founded over the past 20 years, including
HHL. Secondly, many universities now
have institutes specializing in a particular field that are funded by private spon-
Graduation Ceremony at HHL
116 graduates from 17 countries celebrated
their graduation from the Masters of Science, MBA or the Doctoral Program at HHL
on September 1, 2012.
Awards for Deserving Students,
Graduates and Employees
Besides participating in the ceremony with
a commencement address given by Rainer
Neske (see left) and the handing over of degrees, the 350 guests consisting of the graduates' families and friends, the US Consul
General Marc J. Powell, members of the
German Bundestag as well as the Saxon
Landtag, members of the HHL Supervisory
Board and Board of Trustees and its partner institutes and friends, supporters and
sponsors of the school also witnessed several awards being granted.
M.Sc. graduate Dominik Kanbach received
the award “Schmalenbach Scholar 2012”
for outstanding academic achievements as
well as his commitment to the students' interests and his exemplary involvement in
extra-curricular activities. Last year’s best
of class awards were granted to Christina
Dier (P5), Stefan Frisch (MSc4), Andreas
Hönl (MSc4), SvenjaKlups (MSc4), Marko
Krause (M11), Denis Ranke (M11), Jens Reinstädt (P5) and Ramilya Sufianova (MSc4).
All award winners received a book voucher
of EUR 150, donated by the Association of
Friends of HHL and buecher.de. Christian
careers
Bettina Redl, founder of
MyRoomStyle
Onur Köksal, CFO of
Atasun Optik AS
Directly after finishing her Full-Time MBA
Program with a master thesis on internet
startups in 2011, Bettina set out to found
MyRoomStyle – a social commerce platform
for furniture and decoration. The 31-year
old is CEO and is responsible for Product
and Marketing and successfully launched
the platform in September 2012.
Onur Köksal, 36, is the Chief Financial Officer of the Optical Retailer Atasun Optik AS
which is an investment of HAL Investments
BV in Turkey. HAL Investments BV has investments in more than 40 countries, such as
Apollo Optik and Geers Hörgeräte in Germany. Mr. Köksal has been working for the company since its establishment in 2007. Before
he joined Atasun Optik he worked for the Istanbul office of PwC as senior auditor and for
Multi Corporation as Senior Project Controller in several shopping center construction
projects both in Turkey and Bulgaria. Mr.
Köksal is a graduate of HHL’s MBA class M3.
Anja Ritchie, Senior Analyst
Alternative Investments
at BOKF, N.A.
Anja Ritchie, 29, joined BOKF in 2010. In her
capacity as Senior Analyst the M.Sc. graduate of HHL is responsible for the sourcing
and due diligence of hedge, private equity
and real asset fund investments. Her team
of three investment professionals manages
roughly $700,000,000 in alternative assets
and is based out of Tulsa, Oklahoma, USA.
Samuel Kermelk,
CEO of HeiterBlick
Samuel Kermelk, 33, is the CEO of HeiterBlick GmbH based in Leipzig. HeiterBlick is
a producer of customized trams for the European market. Before joining HeiterBlick
in July 2011, he was responsible for the logis-
Part-Time M.Sc.
Student in the
Finals of ARD
Game Show
sors. I would not have thought this was
possible 20 years ago.
What advice would you give HHL graduates for the future?
Rainer Neske: Continuously expand your
horizon by thinking outside the box. We
need elites who are not only excellently
trained in their fields of expertise but who
also have a wide variety of interests. My second advice: Become politically involved for
Europe! I am convinced that only as a united continent will we Europeans continue to
have a strong voice at the global level.
Hoffmann, research associate at the Center
for Scenario Planning at HHL, was awarded the scholarship “Beta Gamma Sigma”
of USD 1,000. For outstanding academic
achievements Dr. Sebastian Hoffmann, Research Associate at the Chair of Accounting
and Auditing, was granted the Research
Award 2012, which includes EUR 500 donated by the Association of Friends of HHL.
The DAAD-Prize for outstanding achievements by foreign students at German universities with a EUR 1,000 award was received by the American MBA student Kyle
Wilson (M12) in the presence of the US Consul General Marc J. Powell. The Marketing
Award for the most outstanding marketing
student of a year, including EUR 500 donated by the Academic Marketing Association,
went to Tobias Rapper (MSc5).
tics planning at Porsche. Samuel Kermelk is
an engineering graduate of RWTH Aachen
and holds a MBA from HHL.
Bidisha Chakrabarty,
Senior Business Analyst
at Avery Dennison
Bidisha Chakrabarty, 31, works in the field of
business process transformation with Avery
Dennison, currently based in the Netherlands. Bidisha started her career in the IT
Industry in India as an engineer. Thereafter,
she moved to Germany and graduated from
the MBA Program of HHL in 2006. Since
then, Bidisha has worked in various roles in
Germany and later, in the Netherlands in the
area of operational excellence and business
process transformation based on Lean Six
Sigma methodologies and supported by ITenabled services.
In October, the German television channel
ARD was looking for “Der klügste Deutsche
2012” (The smartest German 2012). Parttime M.Sc. student Christine Hamann (25)
had a good chance to receive the title and
the prize money of EUR 100,000. Amongst
thousands of applicants nationwide, the
student, who originally comes from Eisenhüttenstadt, managed to make it into the
top 8. A short portrait of Christine Hamann
was filmed at HHL a few weeks before the
final.
CAMPUS
Stephan Stubner
Finished
Habilitation
On November 5, Dr. habil. Stephan Stubner
obtained his post-doctoral qualification
(habilitation) with an inaugural lecture on
"Challenges in Strategy Development". Dr.
Stubner, a graduate from HHL’s Diploma
program in 2000, had re-joined HHL in
2007 as Assistant Professor for Strategy
and Academic Director for HHL's highly
successful Entrepreneurship program. In
his research leading to the habilitation, he
focused on three topics: entrepreneurial
management and family firms, governance
and top management teams as well as strategic and scenario planning. With 13 academic publications, more than 20 working
papers and over 40 conference presentations, he built up his research profile
cumulatively, which was unanimously accepted by HHL's faculty, who awarded him
the venia legendi.
Prior to HHL, Dr. Stubner received his Ph.D.
from the University Erlangen-Nuremberg
where he worked from 2002 to 2004 as a
Research Assistant at the Chair of Management. He also spent several years in strategy consulting with The Boston Consulting
Group and co-founded the two online companies Ciao.com and trivago.de.
Dr. Stubner will remain in academia and
pursue a role as full professor. He already
is in discussion with two institutions that
are offering him a position.
04 HHL NEWS Winter 2012/13
CAMPUS
programs
Student from Illinois is Germany’s
Best Foreign Student
Global Executive MBA Program by
HHL and EADA Kicks Off
During the graduation ceremony on September 1, Kyle Wilson, an MBA student at
HHL, was awarded the DAAD Prize 2012.
Only the top ten international students in
Germany who show outstanding academic
performance are eligible for this award.
The prize along with EUR 1,000 were
awarded in the presence of the American
Consul Marc J. Powell. The German Academic Exchange Service (DAAD) is one of
the world's largest and most respected intermediary organizations in its field.
The 26-year old student very much liked
the international MBA class with students
coming from 12 countries: “HHL quickly
caught my attention as a leading business
school in Germany, as well as the whole of
Europe – a quality which never wavered
throughout my year-long study. From the
students to the administration, everyone
was open, friendly, and fully committed to
exemplifying and fulfilling the values and
standards so crucial to the culture of HHL.”
Wilson is currently on a study abroad term
at the Nanyang Business School in Singapore: “As one of the high quality universities selected by HHL to form a partnership,
Nanyang Business School is located in a region which has time and time again proven
itself to be critical to the future of the global business environment, offering a unique
learning opportunity to round out the comprehensive program provided at HHL.”
Wilson plans to search for a job located in
Germany first: “I would like to find something that utilizes both my undergraduate
degree in Mechanical Engineering as well
as my newly acquired MBA. Though I came
here with the hope of working for renewable energies, I find that my interests were
broadened during my studies at HHL. Anything from a start-up to a large well-known
corporation could be potentially appealing
for me.”
CAMPUS
“Business Students Without Borders”
Student Initiative Growing
Due to an increase in enrollment in the fall
term of 2012, the number of active members in Business Students Without Borders
(BSWB), HHL's student initiative, rose to 30.
Founded in 2009, the initiative, which aims
to help people to help themselves, may now
put together even more individual projects.
Very recently, a group of committed BSWB
members helped organize a popular biennial fall festival at a children's home in
Machern near Leipzig. M.Sc. students Miriam Amedick, Maximilian May and Torsten
Nowell (all MSc7), among others, were involved and helped set up, maintain and take
down the various game stands, such as beer
mug sliding and moon bounce, all over the
spacious area around the children's home.
Another wonderful project, which was already started during the last term, is the
planned computer tutorials for children
from the Leipzig area. They will be taught
how to work with Microsoft Office software
such as Word, PowerPoint and Excel as well
as how to use the internet. This year, the
organizers plan to have additional courses
taught in English.
bswb@hhl.de
A large part of BSWB team now forms
the new MSc8 Master class which aims to
launch various new projects despite the
stressful HHL studies at HHL. Rene Rabe
and his group, for example, want to support
the Leipzig Forikoloe.V. association with
the construction of schools in Sierra Leone.
At the beginning of October, the first class
of the new Global Executive MBA Program,
designed by HHL and the Spanish Escuela de Alta Dirección y Administración
(EADA), kicked off with 14 students representing 8 different nationalities (Brazilian,
Bulgarian, Colombian, German, Icelandic,
Israeli, Spanish and Russian). The members of this diverse group of outstanding
and highly motivated students have an
average of 10 years of work experience in
areas such as E-Commerce, IT, Green Technology, Tourism, Retailing, Consulting,
Media and Banking. The modular Global
Executive MBA Program is offered com-
pletely in English. The program focuses on
business practices in Western European
countries (especially Germany and Spain).
In addition, participants gain insight into
the economies and cultures of the Chinese,
Brazilian and Indian markets, attending
three International weeks in prestigious
Business Schools of these Countries. The
German student André Keeve (35), Head of
Marketing at Axel Springer AG, shares his
enthusiasm in this way: “I am particularly
excited to be part of the new Global Executive MBA program because it presents
a great challenge for my professional and
personal development. I am certain that
the program’s global approach and highly
international mix of participants is going
to help enhance my intercultural skills.
In addition to this, the particular focus
on rapidly emerging markets will widen
my understanding and outlook on today’s
globally intertwined market.”
hhl.de/GEMBA
PROGRAMS
Global Executive MBA Program
Accredited by ACQUIN
The new Global Executive MBA Program by
the German HHL and the Spanish Escuela
de Alta Dirección y Administración (EADA)
has been successfully accredited by the German organization ACQUIN. The modular
structure of the 18-month Global Executive
MBA Program is suited to the professional
and personal needs of international execu-
tives. The program consists of eight core
modules, of which four take place in Germany and four in Spain. The two additional
modules are completed at reputable business schools in Brazil, China, or India.
hhl.de/global-executive-mba
International Relations
HHL Extends Cooperation
with Indian Manager Forge
HHL recently extended its partnership with
the Indian Management Development Institute (MDI) Gurgaon. The cooperation, which
has existed since 2001, not only includes exchange programs for students and professors but also double degrees for students in
the M.Sc. and MBA degree Master programs.
Both business schools cooperate in the
field of company-specific training courses
and within the new Global Executive MBA
program of HHL and the Spanish EADA
Business School. One module of this international program takes place at MDI. Since
the beginning of the partnership with the
Indian manager forge, HHL has welcomed
17 Indian students to its campus. In return,
ten HHL students went to study at MDI.
From left to right: Professor Dr. Andreas Pinkwart
(Dean of HHL), Gita Bajaj, Ph.D. (Chairperson International Relations of MDI), Mukul P. Gupta, Ph.D. (Director of MDI), Frank Hoffmann (Director International Relations
of HHL)
campus
th
4 International HHL Manager Golf Cup
From left to right: Andreas Fichte, Dr. Horst Saalbach,
Christian Haase, Christian Strenger
The International HHL Manager Golf Cup
at Dübener Heide golf course saw full visitor numbers on September 14th. Numerous
regional and international guests from the
economy, politics and society turned up for
the competition and the culminating evening event.
They were joined by graduates and current students of Germany’s oldest Business
School, and besides the small white ball in
a trial lesson and during the competition, it
was all about the expansion of their personal and professional network.
Leipzig-born Dr. Horst Saalbach, entrepreneur and former president of Festo Corporation USA had initiated the Manager
Golf Cup for exactly that reason, to support
HHL in the realization of its growth targets.
The patrons of the competition, Professor
Dr. Georg Milbradt, former Prime Minister
of Saxony and Chairman of the Board of
the Kramer Foundation of HHL as well as
Christian Strenger, board member of DWS
Investment GmbH and Academic Director
at the Center for Corporate Governance at
HHL, follow this same intention. Strenger
said: “We are moving in the right direction
with the Golf Cup and its concept of regional
networking as well as the support of HHL.
The importance of HHL’s role for Leipzig
area becomes more and more obvious.”
The winners in the gross category of this
year’s tournament were Sandra and Jürgen
Balthasar (R.S.V.P. Kommunalberatung
GmbH). The special price for the “longest
drive” went to recently enrolled HHL student Cornelius Schilling. HHL is looking
forward to even more participants and supporters of the 5th Manager Golf Cup 2013.
hhl.de/events
golfturnier@hhl.de
We thank our supporters of the 4th
International HHL Manager Golf Cup
BMW Niederlassung Leipzig, Breuninger Leipzig, Deutsche Bank AG Leipzig, CBW Chemie
GmbH Bitterfeld-Wolfen, Dr. Dietmar Heintzschel, Dr. Horst Saalbach, DWS Investment
GmbH, Firma Jürgen Berger, Gerd Schmidt,
Hotel Fürstenhof Leipzig, Hotel und Residenz
Leonardo, Jana Martin – www.incentivearts.
com, Kanzlei Thomas Rößler, Lufthansa, Mattukat & Partner Steuerberatungsgesellschaft,
Modehaus Fischer GmbH & CO. KG, R.S.V.P.
Kommunalberatung GmbH, Seeteufel GmbH
& Co. KG, Sheraton Essen Hotel, Signal Iduna, www.taschenkaufhaus.de, Thomaskirche
Leipzig, VW Automobile Leipzig, Weidinger
Richtscheid Rechtsanwälte, Wubbe Prins,
Zander Malerfachbetrieb & Restaurierung
GmbH, Zentralkonsum eG, Zills Tunnel Restaurant Betriebs GmbH
HHL NEWS Winter 2012/13 05
Programs
Campus
“We are a Motley Crew”
Victor Schlenkhoff, 24, describes his first
days in the M.Sc. program at HHL Leipzig
Graduate School of Management. Born in
Dortmund, North Rhine-Westphalia, he
obtained a Bachelor in Business Administration from the University of Passau.
Schlenkhoff talks about house hunting
in Leipzig as well as the studying atmosphere and the internationality at HHL.
How did you experience your
first days at HHL?
Victor Schlenkhoff: Although we come
from all over Germany and abroad, we got
to know each other quite well during the
first two weeks. This was also the time I
was looking for an apartment. To be honest,
I thought it would be easier. Nonetheless,
you can find a cool place in Leipzig – no matter whether you want to live on your own or
share an apartment. Compared to Munich
or other university cities, the housing situation in Leipzig is a lot more relaxed.
How do you assess the learning
environment?
Victor Schlenkhoff: The Bachelor program
at the state university did not focus on the
practical side so much. The team work with
open tasks is much more intensive at HHL.
When we are discussing things as a team,
group dynamics develop which we use to
find the best possible solution. Working
with fellow students from other cultures
is particularly exciting because you get to
learn about different approaches and opinions from them.
And what about the topic of internationality at HHL in general?
Victor Schlenkhoff: The school itself and the
life on campus are incredibly international.
Everybody speaks English. If we speak German and a foreign student joins the group,
we immediately switch to English. We are
motley crew and do a lot together here in
Leipzig. I remember my Bachelor program
where exchange students did not mingle
with the German students very much. Here
at HHL, the atmosphere is a lot more interactive.
National Scholarship through
mysportbrands and Stadtwerke Leipzig
During the festive enrollment ceremony
on September 12, two HHL students were
awarded the National Scholarship through
the company mysportbrands and Stadtwerke Leipzig.
The 26-year-old M.Sc. student Phillipp Veit
(left) was elated to receive the National
Scholarship. He said: “I am very grateful for
the opportunities I have been given so far
and especially for the chances offered by
HHL. I think it is great that a start-up such as
mysportbrands, which was founded by HHL
graduates, now supports current students of
their alma mater.”
Scholarship holder Victoria Dressel (32,
second from the right), student of the parttime MBA program of HHL, added: “I am
very grateful for the wonderful support of
Stadtwerke Leipzig and HHL. As a senator
and class representative but also as a selfemployed person and single parent I will
continue to give my very best.”
Lydia Wagner (second from the left), area
manager Finances/Materials Administration at Stadtwerke Leipzig, explained: “We
are honored to award yet another National
Scholarship to an HHL student. We are an
essential employer in the Leipzig region
and also very interested in supporting local schools. The local region is indebted to
HHL’s work and we cooperate closely with
the business school in specialized topics. Therefore it was only logical for us to again
award a National Scholarship to an HHL student.”
PROGRAMS
Are you a member in any of the
numerous student initiatives at HHL?
Euro*MBA Again Certified by AMBA
Victor Schlenkhoff: I work in the 'Business
Students Without Borders' initiative. It is a
great thing since you organize projects that
you have an interest in together with a partner or on your own. We are currently thinking about offering computer classes for older
people in Leipzig. I also dedicate my time to
the European Ivy League, the largest soccer
tournament for European business schools.
The Euro*MBA, an innovative two-year
MBA program for executives, which is based
on blended learning, was awarded again the
international quality seal of the organization AMBA (Association of MBAs). Alongside AACSB and EQUIS, AMBA is one of the
best known international accreditations for
MBA programs. The Euro*MBA program
connects the latest technology in the dis-
tance learning sector with compact presence seminars at six European locations,
amongst others at HHL. The Euro*MBA is
listed as one of the leading programs internationally in the distance learning sector in
the renowned MBA rating of The Economist.
hhl.de/euromba
INTERNATIONAL RELATIONS
Excellent Cooperation: HHL and Its Partner Universities in France
For 16 years, HHL has maintained intensive
contact with outstanding business schools
in France. ESCP Europe was the first partner. Over the ensuing years, contracts with
13 other French universities were signed.
Audencia Nantes and, since May 2012, ICN
Business School in Nancy as well are among
the partners all of which have international
accreditations such as AACSB, AMBA and/
or EQUIS. This unparalleled high number of
partner universities in one country is based
on the requirement to secure the intercultural success of the studies. A maximum of
only two HHL students may go to one university at the same time as part of the exchange program. The schools cooperate in
the field of student exchange and double-degree programs (MBA and M.Sc.). Addition-
ally, HHL also conducts exchange programs
for professors and employees with specific
French universities. With some partners,
HHL cooperates in the Euro*MBA program
as well as in the fields of student initiatives
and career service. Since 1996, HHL has welcomed 73 students to its campus. In return,
81 HHL students seized the opportunity to
study at a French partner university. One of
them is Mirjam Rössler (MSc6, right), who is
currently completing a term abroad in Paris. “Besides capitalizing on the high quality
of academic standards at ESCP Europe, being a part of this extensive network all over
Europe is a rich experience you should not
be missing.” Due to her strong interest in
the wine industry, Miriam Rössler’s MSc6
classmate, Anastasiya Romanova, is spend-
ing a term at INSEEC, Bordeaux. She says:
“Today I had the opportunity to participate
in a blending workshop. The cuvee “J’aime
HHL” has 80 % Merlot and 20 % Cabernet
Sauvignon and according to the Maître de
Chai, the wine should now be matured ten
years in the bottle and only then be consumed. I promise to really do my best and
bring it to Leipzig in January!” Frank Hoffmann, Director of International Relations
at HHL, describes the importance of the
cooperation between German and French
universities: “France is Germany’s closest
and most significant ally in Europe. Germany is the most important trading partner
for France but also schools and universities
from these two countries work on increasing their network structures in the bilateral
and European framework. HHL actively focusing its course on this region is simply the
logical result of the developments so far.”
PROGRAMS
PROGRAMS
Team of Directors Strengthens
HHL’s Study Programs
Part-Time MBA Global Immersion
Seminar to Boston
With its innovate125 Future Concept HHL
states its goal of moving up into the league
of the top 10 graduate schools in Europe
with its significant M.Sc., MBA and Executive programs as well as its well-structured
doctoral program. To achieve this, a strong
team of directors oversees the content, the
structure as well as the further development of these academic offerings. Professor Dr. Manfred Kirchgeorg acts as new
Academic Director for the Executive Education programs of HHL and Professor Dr.
Schwetzler as his counterpart for the MBA
programs. Professor Dr. Henning Zülch supervises the M.Sc. Program and Professor
Dr. Wilhelm Althammer is responsible for
HHL’s Doctoral Program. In the upcoming
editions of HHL news you will find editorial
portraits of each HHL Program Director.
Professor Dr. Kirchgeorg
Professor Dr. Schwetzler
Professor Dr. Zülich
Professor Dr. Althammer
Embracing the topic “Feel the Innovative
Spirit of a Hub City: Key Success Factors of
Innovators” the part-time MBA class P7 went
on a Global Immersion Seminar to Boston
September 16 - 21, 2012.
During lecture sessions at Harvard Business
School, Boston University, Massachusetts Institute of Technology, Fletcher School/Tufts
University and Boston College, students got a
glimpse of the various academic institutions
in Boston and attended lectures on “Innovation Strategy”, “Flexibility in Engineering Design”, “Financial Reporting in a Global Economy” and “Social Networks in Organizations”.
To explore Boston’s leading role in entrepreneurship, innovation, business and science
the class visited several companies and organizations. Cambridge Innovation Center
and Akiban Technologies presented the entrepreneurial spirit of the city. MIT Media Lab
and the Broad Institute of MIT and Harvard
gave important insights into ground-breaking and innovative research.
06 HHL NEWS Winter 2012/13
Alumni Relations
ENTREPRENEURSHIP
HHL Alumni Homecoming
with Alumni from all over
the World
In context of this year’s Alumni-Homecoming HHL welcomed close to 100 of its
Alumni and their families and friends on
its Campus at Jahnallee Leipzig on the last
October-weekend. During the three-day
happening all Alumni enjoyed the possibility of a Campus-Tour with a special
focus on the new Schmalenbach Building,
talks with fellow alumni, HHL professors,
and staff members and also held its annual General Assembly. In addition, the
Diploma class K10 celebrated their 10th
anniversary with former classmates coming to Leipzig from all over Germany, from
London as well as the Netherlands.
All Alumni attended the Homecoming Dinner at the Panorama Tower, where the Dean
of HHL welcomed them and gave the Dinner Speech. By doing so he also presented
the new future strategy innovate125 to the
Alumni, and gave an insight into all current
developments at HHL as well as answered
questions by the Alumni. The homecoming
ended with a brunch on Sunday.
Election of new HHL Alumni
Association Board
During the Homecoming Event the General
Assembly also elected a new HHL Alumni
Association Board after the former Board
with Friedhelm Wachs (P2) as its chairman
decided not to run for another term after six
years. Unanimously elected by the Alumni
as the new chairman was Lars Wulfken
(P6), currently working for Adobe as product manager in Hamburg. The Board is completed by Christoph Stancke (P6) who takes
up the position as new Deputy Chairman
and works as counsel (Corporate/M&A) for
the Otto Group in Hamburg as well as by Dr.
New Board of the HHL Alumni Association: (from left
to right) Lars Wulfken, Chairman of HHL Alumni Association, Kai Schultz, Julia Höffner (HHL Alumni Officer),
Christoph Stancke, Deputy Chairman of HHL Alumni
Association, Jan Möwe-Jarren, Alexander Perske (all
alumni P6)
Marco Sperling, who currently works as an
consultant with McKinsey in Berlin, who
was re-elected as Treasurer. In his address
Friedhelm Wachs took the chance to look
back on the last six years, in which it was
possible to double the number of members
who pay their membership fee and quadrupled the annual income of the HHL Alumni
Association to EUR 26,000. Other achievements were the establishment of the HHL
Alumni Foundation as well as the donation
of all in all EUR 148,000 to HHL. For this
he especially thanked his partners on the
Board with Dr. Burkhart Eymer (K3) being
the Deputy Chairman for their extensive
involvement with HHL and its alumni in
the last years and wished the new board all
possible success in the coming years. Right
after the elections Lars Wulfken and his
team pointed out that it is their goal to establish an active, growing and high quality
alumni network, which provides its members with premium events, contacts as well
as knowledge transfer.
hhl.de/alumni
HHL Graduate Launches First
Universal Crowdfunding Platform
How can the funding for promising startups founded by HHL students and graduates be supported in the future? The talks
between HHL Dean Professor Dr. Andreas
Pinkwart and alumnus Markus Brütsch
resulted in a business idea to answer this
question. Europe’s first universal crowdfunding platform FUNDSTERS was
launched in early November. Whether you
are a founder, project initiator or developer
of ideas – FUNDSTERS enables crowdfunding without limitations to individual industries, fields of interests or funding volume.
The platform is open to everyone burning
for an idea. “Crowdfunding in Germany
should no longer be restricted to individual
industries or niches. This form of fund-raising is the modern-day alternative to classic
funding through banks and it is open to all
people believing in the success of their ideas,” says Markus Brütsch, co-founder and
CEO of FUNDSTERS, on the reasons behind
Supervisory Board, and Christian Strenger,
Academic Director of the Center for Corporate
Governance, at the meeting. Special thanks
go to alumna Katharina Rosenbohm (M7)
from Deutsche Bank who hosted the event in
the Deutsche Bank Tower Taunusanlage.
New Seating in the Library and
New Design of Alumni Lounge
Since the beginning of this year, HHL’s
library has new seating. This has been
made possible thanks to the extensive engagement of the HHL Alumni Association
who sponsored 40 new seats. Therefore,
the Dean, Professor Dr. Pinkwart (middle), and the Chancellor, Dr. Baisch (left),
proudly presented the new furnishings
in the library to Friedhelm Wachs (right),
Chairman of the HHL Alumni Association, during graduation ceremonies. The
15-year-old basic equipment could be replaced with the support of our HHL alumni.
The new seats are much more comfortable,
quieter and fitted to the table height which
makes time in the HHL library as pleasant
as possible.
Furthermore, the former “Cafeteria” on the
1st floor has been redesigned and now offers
great opportunities for reading newspapers and magazines, which are on display.
With the new sofa furniture a comfortable
atmosphere has been created in order to
relax and meet with fellow students and
staff. In addition, it is an excellent location
to bring HHL closer to interested people
who might join HHL.
All in all, the redesigned lounge is illuminated by seven wall lights while the beverage and food vending machines are hidden
by frosted glass.
fundsters.de
SMILE Events in the Winter Term
The Self-Management Initiative Leipzig
(SMILE) is offering a total of almost 100
different events up to March 2013. In addition to well-known “Leipzig Ideas Competition for Founders of New Businesses”,
LIFE, with its awards ceremony on November 28, numerous seminars and workshops on topics such as entrepreneurship,
start-up financing, preparation of business
plans and soft skill management have been
scheduled. For the first time, on-demand
events are being offered, for which there is
no fixed date. People interested in starting
their own businesses have the opportunity
to participate in individual coaching ses-
sions this year as well. They can contact
the SMILE office at HHL overseen by Nagwan Abu El-Ella and Eric Weber.
Students, alumni and employees of the cooperation partners may use all SMILE offers free of charge.
SMILE is a joint project of the University
of Leipzig, HHL Leipzig Graduate School of
Management, and Leipzig University of Applied Sciences funded by the European Social Fund (ESF), the Saxon State Ministry
of the Economy, Labor and Transport and
the Saxon Ministry of Higher Education,
Research and the Arts.
smile.uni-leipzig.de
Schumpeter Junior Professorship for
Entrepreneurship and Technology Transfer
Start-ups and Funding
must Attract one Another
Alumni Onsite in Frankfurt
On October 4, more than 40 participants joined
our alumni onsite meeting in Frankfurt and
got a comprehensive insight into HHL’s Future Concept innovate125 and the latest success
stories from HHL. We were also very pleased to
welcome Torsten Griess-Nega, member of HHL’s
launching the platform. For those wishing
to make investments through FUNDSTERS,
the new crowdfunding platform offers two
options. The first one envisages yield-oriented investments in the form of a silent
partnership, the other one is for funding
projects that offer project-related services
in return (e.g. discounts or pre-emptive
rights). The platform also allows for charity
funding with thank-you gifts of sentimental value such as dedications or photos.
FUNDSTERS has another obvious advantage compared to other platforms when
it comes to high capital requirements: a
BaFin license allows FUNDSTERS as the
first platform in Germany to administer investments exceeding the usual limit of EUR
100,000. This is an important factor since
about 45 % of all start-up projects have capital requirements of EUR 100,000 or more.
“What are the conditions for technologyoriented start-ups in Leipzig and how can
they be improved?” – this was the central
question of the first Leipzig Forum for Innovation and Investment which took place on
October 15, 2012. The Technologiegründerfonds Sachsen (Technology Start-up Fund
Saxony, TGFS) hosted the event.
Representatives from the economy, politics
and education discussed how to invigorate
the triad of ideas, capital and networks.
Looking at the statitics, it becomes obvious
that the Saxon metropolis has some catching up to do: both the expenditures for research and development and the number of
patent applications are far below the national
average. Furthermore, the specific structure
in Leipzig shows a gap in the field of earlystage funding: there are no major venture
capital companies. “Start-ups and funding
must attract one another: investors will
only come to Leipzig once existing startups have made the region more attractive,”
points out Dr. Vivek K. Velamuri. As the
Schumpeter Junior Professorship for Entrepreneurship and Technology Transfer at
HHL he is proud of his university's success:
“The teaching as well as the active network
allow us to motivate our students to start
their own businesses and to strengthen
the entrepreneurial spirit. We can measure
our success by the fact that more and more
students are highly motivated to complete
their internships in a start-up business
whereas 15 years ago, most people focused
on major enterprises.”
Strengthening the entrepreneurial spirit,
providing capital and expanding the network – those are the main tasks according
to those participating in the event.
HEINZ NIXDORF CHAIR OF IT-BASED LOGISTICS
Managing a Company through Processes
On September 25, 2012, as part of the course
“IT-based Logistics” of the Heinz Nixdorf
Chair of Logistics, Mr. Hans Steinbeck, a longterm IBM manager and freelance lecturer, offered HHL’s full-time MBA students an insight
into IBM’s quality management and restructuration processes. After a short insight into
IBM’s Six Sigma and Total Quality Management processes, Mr. Steinbeck concentrated
his guest lecture on the reengineering program at IBM in the 1990s. Looking at this program not just from the logistics perspective,
Mr. Steinbeck focused on the importance of a
lean and efficient IT structure and displayed
the rollout of SAP in the whole corporation.
Through the relating of anecdotes and the
involvement of participating students, the
guest lecturer presented a diverting speech.
HHL NEWS Winter 2012/13 07
ENTREPRENEURSHIP
Chair of Accounting and Auditing
Female Entrepreneurs
and Success?
Doctoral seminar for
Chairs of Accounting
Professor Dr. Christine Volkmann: Just go
for it! Do not let others who attach more importance to potential deficits deter you but
remember what it is you can and want to
do and believe in yourself (self-efficacy). It
is of profound relevance that you develop a
scalable business model as well as a support
network.
On the occasion of this year’s Leipzig Entrepreneurship Lecture, HHL news spoke
to Professor Dr. Christine Volkmann, UNESCO Chair in Entrepreneurship and Intercultural Management at Wuppertal University, about success factors for female
entrepreneurs.
Do female entrepreneurs have
different goals compared to their
male counterparts?
Professor Dr. Christine Volkmann: No, as
a matter of principle, they do not. The goals
of female entrepreneurs mostly depend
on how much time women spend involved
in their start-up. Statistically speaking,
women tend set up companies in the form of
part-time and side businesses. A major reason
for this is that women attribute more importance to the household context when making the decision to start a business. If they
have children, women do most of the family
work. They often work from home in their
business. Naturally, this leads to a different
weighting of the goals.
What advice would you give female
HHL students interested in starting
their own businesses?
The 2012 Leipzig
Entrepreneurship
Lecture
Within the framework of the Gründerwoche
Deutschland (Start-up Week Germany, November 12 to 18, 2012), HHL hosted its Leipzig
Entrepreneurship Lecture entitled “Female
Entrepreneurs and Success?” on November
13, 2012. In addition to Professor Dr. Silvia
Roth (formerly Roth & Rau AG developing
and producing plasma process systems for
the photovoltaic industry), female entrepreneurs Katja von der Burg (www.projecter.
de, an online marketing agency in Leipzig),
Marlene Schroeder (www.formverleih.com, a
studio for product design in Leipzig), Katja
Thieme (www.betourt.de, a provider of outdoor tours and events in Leipzig), Antonia
Neubauer (www.sister-mag.com, a digital
women’s magazine from Leipzig) as well
Tanja Bogumil (www.modemeister.com, an
online shopping service for men) attended
the event. Professor Dr. Christine Volkmann,
UNESCO Chair in Entrepreneurship and Intercultural Management at Wuppertal University, also gave a lecture. The event was
moderated by Professor Dr. Helge Löbler,
Chair of Marketing at Leipzig University.
HHL Dean Professor Dr. Andreas Pinkwart
as well as Deputy Managing Director of
the Leipzig Chamber of Industry and Commerce, Rita Fleischer, kicked off the event
with their opening speeches. The Leipzig
Entrepreneurship Lecture was supported
by the SMILE Selbst Management Initiative
Leipzig (Self-Management Initiative Leipzig), the Leipzig Chamber of Industry and
Commerce as well as Commerzbank Leipzig.
CHAIR OF financial MANAGEMENT
Professor Schwetzler at the
Annual Meeting of the German
Finance Association
Established to bundle the efforts of financial research in Germany, the German Finance Association (DGF) has become a
central hub between financial theory and
practice in the German speaking areas.
Professor Dr. Bernhard Schwetzler gave a
presentation entitled “An Anatomy of Serial
Acquirers, M&A Learning, and the Role of
Post-Merger Integration” of the 19th Annual
Meeting of the DGF which took place this
year at Leibniz University Hannover on October 5, 2012. Against this background, the
question of whether companies could actually learn how to acquire other companies
arose. According to Professor Dr. Schwetzler, the results drawn from more than
20,000 corporate transactions are of great
practical importance: they show that the
transaction performance of serial acquirers
is significantly lower than that of non-serial
and one-time acquirers contrary to the assumption of positive learning curve effects.
The results, obtained from the dissertation
by Dominic Klemmer in collaboration with
the Center for Corporate Transactions and
the Boston Consulting Group, have thus an
added value for both practice and science.
CHAIR OF MARKETING MANAGEMENT
Study on the Development of Consumer
Trade Shows in Germany Published
What are the future prospects for consumer
trade shows in Germany? What kind of potential do the results pose for trade show
organizers and exhibitors and what effect does this have on the position of trade
shows? The “Perspektiven, Potentiale und
Positionierung von consumer trade shows”
(“Prospects, Potential and Positioning of
Consumer Trade Shows”) study dealt with
these questions.
The team under the leadership of Professor
Dr. Manfred Kirchgeorg found that consum-
er trade shows will face increasing competition from a large number of shopping, event
and leisure activities. The study shows that
the multi-sensual brand experience represents an unrivaled ace up the sleeve compared to online shopping.
The results of the study will be published as
part of the series by the Institute of the German Trade Fair Industry and are available
for download free of charge on the following
website:
auma.de
The chair of Accounting and Auditing hosted the 4th Doctoral Seminar for Chairs of
Accounting of the Region East at HHL in
cooperation with the Ernst & Young Foundation. The event dealt with the latest developments in international financial reporting as well as special topics of corporate
social responsibility, auditing, forensic services, and costs of capital, and saw selected
professors and research associates from
leading universities of Eastern Germany
gathering at HHL on September 27 and
28, 2012. Moreover the program included a
presentation from representatives of Ernst
& Young’s management dealing with latest
developments in the accounting for leases. The seminar offered the participants a
unique opportunity to present their own
accounting research and to learn what colleagues at other universities are doing. The
28 academics enjoyed two interesting and
challenging days at HHL and in the city of
Leipzig. The Chair of Accounting and Auditing is looking forward to hosting the 5th
Doctoral Seminar in 2013 again at HHL.
Top in CSR, Flop in Financial Reporting?
Corporate Social Responsibility (CSR) has
become a popular and increasingly used
term among firms, authorities and in the
press. Sustainable and responsible corporate management is moving more and more
into the focus of companies and investors.
Whether companies in fact do change so
as to become more social, sustainable and
responsible remains to be seen. Marcus
Salewski and Professor Dr. Henning Zülch
from HHL's Chair of Accounting and Auditing analyzed the association between
CSR and the quality of financial reporting
in their new working paper entitled: “The
Impact of Corporate Social Responsibility
(CSR) on Financial Reporting Quality – Evidence from European Blue Chips”.
The findings of the published research paper are now subject of discussion on several
national and international accounting conferences. Starting point for discussion is the
HHL-Forum 2012 on November 22, 2012. In
this context Prof. Dr. Henning Zülch will
chair a panel discussion about “Financial
Reporting – A Sustainable Management
Tool?”
http://papers.ssrn.com/sol3/papers.
cfm?abstract_id=2141768
What is a ‘Fair Value’?
On September 18, 2012, the Gesellschaft für
kapitalmarktorientierte Rechnungslegung
e.V. (GKR), which is part of HHL’s Center
for Financial Reporting and Consolidation,
held a seminar on the new regulations for
fair value accounting under IFRS. On this
occasion, GKR also invited more than 40
IFRS practitioners who regularly meet for
an IFRS Roundtable in Leipzig to participate. Dr. Sebastian Hoffmann, Assistant
Professor at HHL’s Chair of Accounting and
Auditing, presented the new regulations
and outlined that they will become effective from 2013 onwards. The fair value is
now defined as a hypothetical selling price
which needs to be determined from the perspective of an independent market participant. For companies it will be a particular
challenge to identify such a market partici-
pant who then sets the parameters for valuation. In that regard it is important to keep
in mind the newly introduced fair value
hierarchy. It requires determining the fair
value based on current and actual market
prices. Only if such prices are not available,
may one apply valuation methods, such as
Discounted Cash Flow procedures or option
pricing models. Those methods should also
be based on market input parameters as far
as possible. Dr. Hoffmann assessed the regulatory changes as not imposing significant
material changes. However, new disclosure
requirements will increase costs for preparing financial statements. Furthermore, the
new rules “will still allow for discretionary
valuations when determining fair values”,
as one practitioner concluded.
CHAIR OF MARKETING MANAGEMENT
Changing Telecommunication Markets
Top executives of the German economy meet
twice a year to exchange their experiences
in the Wissenschaftliche Gesellschaft für
Marketing und Unternehmensführung (Academic Society for Marketing and Business
Leadership). Since 2006, Professor Dr. Manfred Kirchgeorg of HHL has been in charge
of the academic support of this circle. On
October 25 and 26, 2012, the members met
for the 63rd Leadership Talks at the Berlin
office of Deutsche Telekom AG.
Kicking off the event, René Obermann, Chairman of the Executive Board of Deutsche
Telekom AG, spoke about the challenges of
changing telecommunication technologies.
In addition to technological competencies,
customer orientation, quality of service and
brand trust represent important requirements for the future success of telecommunication service providers. With this background, Deutsche Telekom has expanded
its service quality and networks as well
as adjusted its brand architecture. These
measures caused a significant increase in
the brand trust of Deutsche Telekom. Following further presentations by Niek Jan
van Damme (Deutsche Telekom AG), Dr. Jürgen Meffert (McKinsey & Company Inc.) and
Professor Dr. Ansgar Zerfaß (University
of Leipzig), challenges as well as potential
courses of action regarding the technological change were discussed. Different aspects of the opportunities and risks of new
forms of digital communication (e.g. social
media, free apps for direct communication,
cloud computing) were highlighted, just
as much as concrete portal solutions by
Deutsche Telekom.
The participants closed the Leadership Talks
with a panel discussion on potential courses
of action for market-oriented leadership.
wissenschaftliche-gesellschaft.de
08 HHL NEWS Winter 2012/13
Stiftungsfonds Deutsche Bank
Chair of Innovation Management and
Entrepreneurship
Center for Strategy
and Scenario Planning
Trust, Internationalization and
Innovation - Recent Publications
Extension of Cooperation
between Center for Strategy and
Scenario Planning and Roland
Berger Strategy Consultants
The chair members have worked on a number of current and forthcoming publications that cover a range of topics. For example, one paper (ref.: Nagwan Abu El-Ella) is
about the role of trust in “Open Innovation”,
which highlights the new trust challenges
posed by open innovation, in a number
of organizational contexts of innovation
that require trust. Another paper (ref.: Dorian Proksch) discusses the role of trust in
“Venture Capital Investments” in new technology-based firms and shows the main
determinants of trust-building in those
cases. Another forthcoming paper (ref.:
Dorian Proksch) is about the internation-
alization of German start-ups. For a general
overview of the development of innovation
management as a part of the Business Economics discipline, as well as the shift in the
role of universities as entrepreneurial hubs
(from a German as well as an international
perspective), and a number of current innovation topics, check out the working paper
written by Professor Dr. Andreas Pinkwart
and Nagwan Abu El-Ella in our library or
visit the following link for the electronic
version:
hhl.de/en/faculty-research/publications/show/4019/
Center for Leading Innovation & Cooperation
Series of Workshops on the Future
of Work in the Service Sector
As a part of the “ServProf – Service Professionalität lernen und leben” (“Learning and
Living Service Professionalism”) project,
the Center for Leading Innovation & Cooperation (CLIC) conducted a series of workshops on the future of work in the service
sector. ServProf is a meta project initiated
by the German Federal Ministry of Education and Research to join together various
concepts on the topic of professionalizing
services.
The three workshops “Interaction Work”,
“Successful Professionalization Models
from the Service Sector and Application to
New Service Jobs” and “Training as a Service” were held on September 17 and 21 as
well as October 1 under the leadership of
Professor Dr. Ralf Reichwald and Dr. Agnes
Schipanski. Experts from science and practice were invited to each of these workshops.
servprof.de
clicresearch.org
Individuality is very important to the company selve. After all, selve is based on the
idea that customers can design their own
shoes according to their own ideas by combining the cuts, shapes, heels, fabrics and
colors they like. At first, the business focused on personal consultation in a store.
However, when selve transferred its idea to
the internet and launched a website where
you could design your own shoes using the
modular principle, one problem occurred:
on the one hand, the company sold highly
individualized products but on the other
Margarete Schmidt Sonntag
hand, the customers did not have personal
contact with a qualified assistant on the
internet. In order to combine the benefits of
both worlds, CLIC developed the Selve Live
Help system in cooperation with selve and
technology service provider Level 4.0/vee24.
With the help of this system, customers can
contact the assistants via video and text
communication while discovering the possibilities of personally designed shoes on
the website. As part of a pilot study, CLIC is
now examining how this innovative service
affects customer perception and operation.
The pilot phase of approx. three months
will be completed within the framework of
the KUMAC research project funded by the
German Federal Ministry of Education and
Research. The person to contact at CLIC is
Stefan Thallmaier who expects first results
at the end of the year.
clicresearch.org/tag/kumac/
Programs
New Series of Lectures for Executives
As of January 2013, the Leipzig Chamber of
Commerce and Industry (CCI) and HHL will
start a new series of lectures addressed to
executive directors of small and mediumsized enterprises. “KMU – Kompaktes Managementwissen für Unternehmer” (SME
– Compact Management Awareness for Entrepreneurs) combines technical know-how,
network development and practical further
education. The series of lectures will kick
off by looking at succession planning. Over
scenariomanagment.de
Publication in Zeitschrift für
Controlling: Special Issue on
Scenario-based Controlling
How Effective is Personal
Consultation via Video?
How can we use the benefits of the internet
and provide a more personalized service
at the same time? Stefan Thallmaier from
the Center for Leading Innovation and Cooperation (CLIC) is currently conducting a
pilot study examining the effectiveness of
online consulting via video.
In March 2012 the successful cooperation
between the Center for Strategy and Scenario Planning at HHL and Roland Berger
Strategy Consultants was extended for another three years. As part of this cooperation Roland Berger Strategy Consultants
continues to fund the Roland Berger Research Unit at the Center. Since 2009, the
Center, with the goal of advancing scenario planning and thinking in research and
practice, has established itself as an important think tank in the field. In the coming years the Center will concentrate its activities on new research areas such as the
quantification of scenarios and the development of specific tools like the 360° Stakeholder Feedback, which ease the application of scenario planning in practice. The
Center continues to be led by Professor Dr.
Torsten Wulf and Professor Dr. Burkhard
Schwenker, Chairman of Roland Berger
Strategy Consultants.
the course of three evenings the question of
how succession can be created in a strategic
and at the same time operational way will
be discussed, and which legal and financial
aspects have to be considered in the planning process. In summer 2013 CCi and HHL
will offer another series of lectures titled:
“Innovation instead of Imitation“. Further
information and registration:
hhl.de/kmu
T +49 341 9851-831
The Center for Strategy and Scenario Planning has published an article on how
executives can integrate scenario-based
planning in controlling processes of organizations in a special issue on scenariobased controlling published by Controlling.
The article titled “Strategische Planung
und strategisches Controlling mit Szenarien” co-authored by Professor Dr. Torsten
Wulf and Dr. Stephan Stubner describes
how scenario-based planning enables organizations to amend their controlling
processes in volatile environments. The
article highlights the importance of considering external developments in the controlling process. It introduces the Scenario
Cockpit as a tool, which can help managers
achieve this goal.
New Industry Scenario “The
Future of the German Consumer
Electronics Industry”
Together with Roland Berger Strategy Consultants the Center for Strategy and Scenario Planning has published a study on
the future of the German consumer electronics industry. The industry is an example of a sector that is presently influenced
by a large number of uncertainties making
future developments hard to predict. On
the one hand, customers are strongly interconnected making price comparisons of
different offers more common than in the
past. On the other hand, customers are less
attached to a specific brand when purchasing consumer electronics products and
look more for features such as individuality, service and design. The scenario study
presents four industry scenarios for the
year 2016 based on a sound industry analysis and an expert inquiry. Both producers
and retailers of consumer electronics will
need a more flexible and robust strategy in
order to be successful in an increasingly
volatile environment.
Programs
General Management Program 2013
The next round of HHL Executive’s General
Management Program (GMP) will run from
January to June 20131. 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 from the European Union is possible.
hhl.de/gmp2013
campus
HHL Meets
RB Leipzig
The soccer club RB Leipzig is one of the
great beacons of hope for the city of Leipzig
and the region. Just like HHL with its innovate125 Future Concept, RB has set itself
ambitious goals aiming to make it to the
Champions League over the next few years.
Being next door at Jahnallee campus, we are
looking to working more closely with the
team in the future. The friendly cooperation
kicks of with the premier game of RB Leipzig against FC Carl Zeiss Jena at Red Bull
Arena on Sunday, December 2, at 1.30 pm.
RB Leipzig has been kind enough to provide
us with some free tickets. If you are interested in seeing the game, you may pick them
up at the Dean's Office (while supplies last).
Upcoming Events
November 24
HHL GMAT Seminar for Beginners
November 27
HHL on Tour: Master & More and MBA
Lounge in Stuttgart
December 5
HHL@trivago: Challenges in Strategy
Development
December 6
HHL on Tour: Master & More in Berlin
December 8
HHL on Tour: Master & More in Münster
Application Deadlines for HHL’s
Study Programs
Full-time M.Sc. Program:
January 15 (intake March)
June 20 (intake September)
Full-time MBA Program:
June 30, Non-EU applications: May 30
Part-time M.Sc. Program/
Part-time MBA Program:
January 15
Global Executive MBA:
August 31, 2013
Impressum
Publisher:
HHL Leipzig Graduate School of Management
Jahnallee 59 · 04109 Leipzig · Germany
Tel.: +49 341 9851-60 · Fax: +49 341 9851-679
e-mail: info@hhl.de · Internet: www.hhl.de
Publication Date: November 22, 2012
V.I.S.D.P.: Prof. Dr. Andreas Pinkwart,
Dean of HHL
Editors: Executive Management of HHL:
Prof. Dr. Andreas Pinkwart, Dr. Axel Baisch
Editorial Board: Volker Stößel (MBA)
Concept: CLAUS KOCHTM
www.clauskoch.com
Photos: HHL, David Ausserhofer
Frequency: quarterly
ISSN 1433 934X | ISSN 1867-8017
Thank you to all contributors and proofreaders
of this edition.