Risk management has become an important topic for financial institutes, especially since the business sector of financial services is related to conditions of uncertainty. The turmoil of the financial industry emphasizes the importance of effective risk management procedures. Consequently, this thesis studies “What are the critical success factors for effective risk management procedures in financial industries?” This research question was formulated in order to gain a better understanding of risk management procedures and to examine the critical success factors for effective risk management procedures. To explore the importance of critical success factors in a practical context, we used the quantitative method of a self-completion questionnaire in order to collect data from a selection of financial institutions in Thailand. Financial institutions include banks, the stock exchange, insurance, stock securities, asset management and so on. Due to the fact that top-level management is directly responsible for risk management, the target groups included a range of positions from supervisors to board of directors. This research found a set of seven critical success factors which can be used as a guideline on how to increase the effectiveness of risk management procedures. These factors are (1). Commitment and support from top management, (2) Communication, (3) Culture, (4) Information technology (IT), (5) Organization structure, (6) Training and (7) Trust. Because risk management is an important part of the financial industry, effectiveness is vital to increase project success. These seven factors can increase the effectiveness of risk management procedures from the perspective of the financial industry in Thailand.

Mergers and acquisitions (M&A) in the corporate world are achieving increasing importance and attention especially in the advent of intense globalization. This is evident from the magnitude and growth of deal values and resultant ‘mega-mergers’ transacted in recent times. As expert advisory are sought in M&A activities to facilitate the undertaking and maximise the value of the transaction, advisory firms begin to play a more significant and at the same time lucrative role in M&A activities, to the extent of determining the outcome of such projects. Being an area of limited research, it is thus valuable to investigate what M&A advisory firms view as critical success factors to the projects they undertake. Consequently, the research question of “What are the critical success factors for merger & acquisition projects in the view of merger & acquisition advisory firms” has been raised. A list of ten critical success factors for M&A projects is firstly identified from an extensive literature review. These factors are (1) Complete and Clear objectives, goals and scope of the project, (2) Client consultation and acceptance, (3) Project manager’s competence and commitment, (4) Project team member’s competence and commitment, (5) Communication and information sharing and exchange, (6) Project plan development, (7) M&A advisory firm’s resource planning, (8) Time management and tight secrecy, (9) Price evaluation and financing scheme, and (10) Risk management. In an attempt to explore the importance of each factor in the practical context, data have been collected through three research methods. Primarily, the authors conduct a semi-structured interview with six interviewees currently working in three organizations which provide professional services related to M&A projects. Meanwhile, a self-completion questionnaire method is employed, following which a sample of 325 M&A advisory firms based in the U.S. is selected to participate in an online survey. In addition, the authors follow a case study approach based on the three organizations of the six interviewees in order to establish comprehensive knowledge about issues relating to M&A projects. In response to the research question, the findings strongly indicate that seven out of ten factors in the original list have a positive impact, being the factors listed above as (1), (2), (3), (4), (5), (8), and (9). On the other hand, it revealed the lesser importance of the other three. In addition, three new factors have been discovered from analyzing the data collected, being (i) Having a number of key potential buyers with suitable profile (ii) Right, correct and complete information and data in the data room, and (iii) The quality of the selling company. While as another outcome of this research, further practical insights have been provided regarding the role of M&A advisory firms, the M&A process, common issues faced by M&A projects and the success criteria for M&A projects. The findings from this research contribute valuable new knowledge to both researchers and practitioners in both project management and M&A fields, while facilitating the achievement of successful M&A projects.

<p>The focus of the study is to identify ERP COTS software where custom made ERPP and COTS software are different in product type and implementation process. The study further intensifies the focus on the factors which are critical for successful ERP COTS product selection and implementation by decision makers and ERP COTS implementers respectively.</p><p>The study involves decision makers, management and organizational actors (end users which are beneficiaries of ERP COTS system). The study tries to identify certain factors, which can lead to the success of the ERP COTS Software implementation and failure to identify those CSFs in selecting and implementing ERP COTS can lead to ERP COTS failure.</p>

Bedingt durch oftmals schnelle und fortschreitende Änderungen im wirtschaftlichen Umfeld stehen Unternehmen vor zahlreichen externen sowie internen Anforderungen und Herausforderungen, was wiederum eine effektive Steuerung und Koordination der innerbetrieblichen aber auch der überbetrieblichen Geschäftsprozesse und -abläufe erfordert. Um diesen Herausforderungen zu begegnen, ist der Einsatz von adäquaten Anwendungssystemen zwingend. Speziell die Nutzung von Enterprise Resource Planning-(ERP-)Systemen, die als standardisierte Systeme die gesamten unternehmerischen Aktivitäten und Geschäftsprozesse unterstützen können, ist zu einem wichtigen Bestandteil der Unternehmen geworden. Ein richtig ausgewähltes und implementiertes ERP-System bietet zahlreiche Vorteile sowohl für Großunternehmen aber auch für klein- und mittelständische Unternehmen (KMU). Die Implementierung eines ERP-Systems stellt jedoch ein komplexes und zeitintensives Projekt dar, welches den Unternehmen große Möglichkeiten eröffnet, diese aber gleichzeitig mit enormen Risiken konfrontiert. Dabei realisieren immer mehr KMU die möglichen Vorteile dieser Systeme, woraus eine konstante Nachfrage nach ERP-Systemen für kleine und mittlere Unternehmen resultiert. Um jedoch von den Vorteilen zu profitieren anstatt von den Risiken „verschlungen“ zu werden, ist es zwingend erforderlich, sich genau auf die Faktoren zu fokussieren, die zur einer erfolgreichen Einführung eines ERP-Systems beitragen. An diesem Punkt knüpft die vorliegende Dissertation mit einem ersten Forschungsschwerpunkt an. Dieser Schwerpunkt befasst sich mit kritischen Erfolgsfaktoren im Zusammenhang mit der ERP-System-Einführung und der ERP-System-Nutzung in klein- und mittelständischen Unternehmen. Ziel dieses ersten Schwerpunktes ist es, einen Einblick in die Erfolgsfaktoren bei ERP-System-Implementierung in KMU zu geben und die Unterschiede zu den Faktoren bei ERP-Projekten in Großunternehmen aufzuzeigen. Als konkretes Ergebnis dieses Forschungsstrangs wird dabei ein Vorgehensmodell für ERP-Einführungen in KMU entwickelt, welches auf Basis der Erfolgsfaktoren von ERP-Projekten aus bestehenden Modellen abgeleitet und an die Bedürfnisse und Anforderungen der KMU angepasst wird. Hierbei werden die Erfolgsfaktoren direkt in das Modell mit einbezogen. Des Weiteren resultiert ein zweiter Schwerpunkt dieser Dissertation erneut aus der hohen und konstanten Nachfrage nach ERP-Systemen, welche zu einem sehr stark fragmentierten ERP-Markt vor allem im Bereich der KMU geführt hat mit einer Vielzahl von Herstellern und Systemen. Hier erschwert es diese hohe Marktfragmentierung den Anwenderunternehmen nicht nur, die „richtige“ Software zu finden, sondern auch für das von ihnen ausgewählte System entsprechende Fachkräfte an sich zu binden. Daraus ergibt sich unter anderem auch die Notwendigkeit für Hochschulen, ihren Studierenden und späteren Absolventen dieses geforderte und benötigte Fachwissen, insbesondere in informationssystembezogenen Studiengängen zu vermitteln. Jedoch gibt es dafür keinen standardisierten Ansatz. Die Systemwahl und die Anzahl der Systeme sowie der Aufbau und die Anzahl der ERP-Kurse divergieren von Hochschule zu Hochschule, wobei in diesem Punkt eine Dominanz großer ERP-System Hersteller zu verzeichnen ist. Allerdings ist eine diversifiziertere Einbindung von ERP-Systemen vor allem aus dem Bereich der KMU sinnvoll. An diesem Punkt stehen die Hochschulen und die Lehrenden vor der Herausforderung, wie viele Systeme in die Curricula integriert werden sollten und auf welche Art und Weise und in welchem Umfang diese Systeme vermittelt werden sollten. Daher werden im Rahmen dieses zweiten Schwerpunktes Möglichkeiten und Kursmodelle beschrieben, durch die eine praktische Vermittlung einzelner oder auch mehrerer ERP-Systeme ermöglicht und unterstützt wird. Ziel dabei ist es, einen Beispielcurriculum zu entwickeln, in dem über verschiedene Kurse hinweg, Kenntnisse zu ERP-Systemen vermittelt werden. Die Kurse dieses Curriculums werden dabei auf Basis der Literatur und der Anforderungen von Unternehmen an spätere Absolventen (vor allem resultierend aus den Erfolgsfaktoren des ersten Forschungsstrangs) entwickelt. Des Weiteren werden diese Kurse und die darin eingesetzten Systeme mit den Ergebnissen einer Umfrage an Universitäten und Fachhochschulen zum ERP-System-Einsatz in der Lehre verglichen und auf Basis dieser Ergebnisse angepasst und modifiziert. Als konkrete Resultate dieses Forschungsstrangs werden mit dem zu entwickelnden Beispielcurriculum Handlungsempfehlungen gegeben, mit denen Hochschulen sowohl Kenntnisse zu ERP-Systemen für Großunternehmen als auch zu Systemen für KMU vermitteln können. Dabei steht auch die praktische Kenntnisvermittlung von kleineren Systemen im Fokus, um den Studierenden einen weiteren Blick auf die Verschiedenartigkeit von ERP-Systemen zu bieten.

The objective of the current study is to explore and identify the Critical Success Factors (CSFs), which impact upon the effective implementation of Human Resource Development (HRD) initiatives in support of nationalisation, and to recommend a model for practical application and future research. Accordingly the study focused on identifying and analysing the various factors in the localisation of a workforce with regard to five broad categories, namely: national level factors, organisational (policies and practices related) factors, organisational (HR related) factors, individual level (expatriate and experienced staff related) factors and individual level (UAE national related) factors. The data for the study was collected using both qualitative and quantitative methods. Qualitative methods were used to develop an in-depth case study of the Emiratisation process in an oil and gas organisation, as well as for identifying the critical success factors to be included in the survey questionnaire for collecting the quantitative data. The results of the study indicated that the critical success factors identified in the study are part of a complicated reality and need to be managed to ensure success of the localisation of a workforce. The mean scores obtained on the various factors differed significantly across the organisations or sub groups of respondents used in the study. This indicates that the impact of various factors that facilitate or constrain the localisation efforts are highly contextual and organisation specific. The findings of the study revealed valuable insights that could enrich not only future research in the area, but also the practical application of HR tools and methods to support the localisation process. The current study also developed a model for practical application and future research in the area. The model identified the role of HR strategies and tools as critical for managing the CSFs and ensuring the success of the process of localisation. The model developed in the current study also emphasises the need to define the 'success' of localisation in much broader terms, by addressing complex issues such as, employee morale and motivation, expectations of all employees, including expatriates and so forth, rather than just focusing on the number of UAE nationals employed and their competencies. The current study also identified some of the limitations of the study and highlighted suggestions for future research.

Σκοπός της διπλωματικής είναι η ανασκόπηση της βιβλιογραφίας και η ανεύρεση των κυριότερων θεωρητικών – εννοιολογικών μοντέλων σχετικά με τη πολιτική ποιότητας 6σ. Ωστόσο ο σημαντικότερος σκοπός ήταν η κατασκευή ενός πλήρους και τεκμηριωμένου ερωτηματολογίου που να ανταποκρίνεται στο περιβάλλον που λειτουργούν οι ελληνικές επιχειρήσεις. Μεθοδολογία: ανασκόπηση της βιβλιογραφίας και πιο συγκεκριμένα των διεθνών ακαδημαϊκών βιβλιοθηκών (emerald) όπου έγινε αναζήτηση άρθρων χρησιμοποιώντας ως λέξεις κλειδιά: 6 σίγμα, κρίσιμοι παράγοντες 6σ, οφέλη του έξι σίγμα, εμπόδια και δυσκολίες του έξι σίγμα, το έξι σίγμα στη παροχή υπηρεσιών, λόγοι εφαρμογής – λόγοι μη εφαρμογής, η απόδοση του έξι σίγμα, εργαλεία και τεχνικές που χρησιμοποιούνται στη πρωτοβουλία έξι σίγμα, το έξι σίγα και η σύνδεσή του με άλλες προσεγγίσεις ποιότητας (TQM, BE, ISO) και lean έξι σίγμα. Αποτελέσματα: η παρούσα εργασία παρουσιάζει τα κυριότερα εννοιολογικά μοντέλα πάνω στη πολιτική ποιότητας 6σ. Επίσης εξετάζει τα μοντέλα αυτά από την πλευρά των επιχειρήσεων παροχής υπηρεσιών και το πώς αυτά εφαρμόζονται επιτυχώς από αυτές. Το τελικό αποτέλεσμα της εργασίας είναι ένα τεκμηριωμένο ερωτηματολόγιο το οποίο προορίζεται για τις επιχειρήσεις παροχής υπηρεσιών και εξετάζει το κατά πόσο η πρωτοβουλία έξι σίγμα είναι γνωστή στα ελληνικά δεδομένα. Περιορισμοί: η εργασία παρέχει μόνο μία ανασκόπηση της βιβλιογραφίας και όχι ερευνητικά αποτελέσματα. Πρακτικές εφαρμογές: η εργασία παρέχει μία πλήρης εικόνα πάνω στα θεωρητικά - εννοιολογικά μοντέλα για την πολιτική ποιότητας έξι σίγμα στις επιχειρήσεις παροχής υπηρεσιών και μπορεί να χρησιμοποιηθεί ως βάση για μελλοντικές εργασίες. Καλύπτει το κενό που υπάρχει στην κατασκευή ενός πλήρους και καλά τεκμηριωμένου ερωτηματολογίου Πρωτοτυπία – αξία: η εργασία αυτή καλύπτει σημαντικά το κενό που υπάρχει στην ελληνική βιβλιογραφία σχετικά με τη πολιτική ποιότητας έξι σίγμα. Συμβάλλει στη παροχή ενός εννοιολογικού πλαισίου για τη πολιτική ποιότητας έξι σίγμα από την πλευρά των επιχειρήσεων παροχής υπηρεσιών. / The purpose of the current thesis is to review the literature and finding the main theoretical - conceptual models on the quality policy 6s. However the most important goal was to build a complete and documented questionnaire to respond to the environment that Greek companies operate. Methodology : literature review and in particular searching at international academic libraries (emerald) of articles using keywords such as: six sigma critical success factors, six sigma benefits, obstacles and difficulties of six sigma, six sigma in the service sector, implementation reasons – reasons for no implementation, the performance of six sigma, tools and techniques used in the six sigma initiative, the six sigma’s connection with other quality approaches (TQM, BE, ISO) and lean six sigma. Results: This paper presents the main conceptual models on the quality policy 6s. Also considers these models from the perspective of service providers and how they apply them successfully. The final outcome of this study is a well documented questionnaire intended for service firms, which examines whether the six sigma initiative is known in Greek service sector. Limitations: The paper provides only an overview of the literature rather than research results. Practical applications: this study provides a complete overview on the theoretical - conceptual models for the quality system of Six Sigma in the service sector and can be used as a basis for future studies. It covers the gap that exists in providing a complete and well- documented questionnaire. Originality - value: this study covers the major gap in Greek literature on Six Sigma quality policy. It provides a conceptual framework for six sigma quality policy on the part of the service providers.

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Title: Critical Success Factors for Integration of Enterprise Resource Planning System   Level: Student thesis, final assignment for Master Degree (one year) in Business Administration   Author: Kambiz Kafi   Supervisor: Dr. Maria Fregidou-Malama   Examiner: Dr. Ehsanul Huda Chowdhury   Date: 2018-11-26   Aim: This study examines the Critical Success Factor (CSF) model and its implementation in a case study where ERP Systems are integrated. The model includes Legacy System as a CSF.   Method: Deductive reasoning and case study were applied to support the research theory. Primary and secondary data were collected. Interviews with managers and staffs were performed.   Result &amp; Conclusions: The study shows the factors that are critical in successful implementation of ERP project and how a successful implementation and integration of ERP projects is executed when two companies are being merged. It also shows how the ERP integration project can be implemented. This work studied an implementation of Holland and Light’s theoretical CSF model empirically and validated that the model is general and robust for successful ERP implementation and managing changes.   Contribution of the research: This study of integration of few Legacy Systems when companies are being merged is a contribution to the theory of CSF. The central role that Legacy Systems plays in ERP project implementation is shown empirically. This study presents Software Alignment (Software Configuration) based on two company’s business processes empirically and found it to be essential in success of ERP projects. The research shows how CSF model manages changes, assisting managers in merging two companies successfully. The research presents a modified Holland and Light CSF model to meet the merging situations.      Suggestions for future research: To gain more knowledge about CSFs for integration of ERPs, this study suggests further cross- industrial empirical studies in wholesale and retail industries with varied sizes. Research about identifying CFSs in extended ERP using e_CRM is recommended.

ERP system har de senaste åren uppträtt som en central faktor vid framgångsrik informationshantering och agerat som en grundpelare i många företagsorganisationer. Implementering av ett nytt affärssystem är en komplex process vilket bidrar till att organisationer får svårigheter med att genomföra processen. Implementering av affärssystem handlar om att kombinera tidigare separerade system med fokus på att tillhandahålla en mer komplett informationsresurs för en organisation. ERP systemen tog fart under millenniumskiftet y2k och många företag hade vid det laget svårt att implementera systemen med ett positivt slutresultat. Arton år senare så kvarstår problematiken trots att ERP systemen har utvecklats och företagen blivit mer kunniga inom området. Detta visar en studie från Panorama Consulting (2017) där det framkom att 26 procent av företagen misslyckats med implementeringen 74 procent går över budget samt att 59 procent passerade den tänkta tidsplanen. För att finna en lösning på problematiken så har flertalet forskare genomfört studier där fokus ligger på att identifiera de negativt bidragande faktorerna vid ERP implementering. Dessa faktorer kallas för ”Critical failure factors”. Det finns idag lite empirisk forskning där information har samlats från ERP leverantörer. Forskningen som finns grundar sig i gamla teorier för vilka faktorer som bidrar positivt respektive negativt för en implementeringsprocess. Dessa teorier utgår de flesta forskare från i sina studier kring implementeringen av ERP system. Denna studie fokuserar därför på ERP leverantörernas perspektiv kring negativt bidragande faktorer vid implementering av ERP system. Stor vikt har legat på att samla in faktorer från ERP leverantörer för att vid ett senare skede i studien ställa dessa mot de faktorer som nämnts i tidigare studier för att finna samband och eventuella avvikelser. Studien använde sig av intervjuer som datainsamlingsmetod och fem intervjuer har genomförts med erfarna ERP leverantörer. Resultatet av det insamlade materialet från ERP leverantörerna identifierar ett antal kritiska faktorer som kan sammankopplas med faktorer från tidigare studier. Intressant är att studien även identifierat ett antal faktorer som avviker från tidigare studier. Slutsatserna som går att dra från studien är att implementeringsprocesserna kan förbättras och bli avsevärt mycket mer effektiva med hjälp av den nya insikten i problematiken som ERP leverantörerna framför. Medvetenhet om dessa negativt bidragande faktorer vid implementering av ett ERP system bidrar med kunskap inom området för implementeringsprocesser som i sin tur kan användas av företag och privatpersoner för att underlätta och förhindra de problem som kan uppstå i en sådan process. / In recent years, the ERP system has been a key factor in successful information management and served as a foundation for many corporate organizations. Implementing a new business system is a complex process, which leads organizations having difficulties implementing the process. Implementation of business systems involves combining previously separated systems focusing on providing a more complete information resource for an organization. ERP systems accelerated during the millennium shift y2k, and many companies at the time had difficulties to implement the systems with a positive end result. Eighteen years later, the problem remains, despite the fact that ERP systems have evolved and businesses become more knowledgeable in the field. This shows a study from Panorama Consulting (2017) where it was found that 26 percent of companies failed with implementation. 74 percent exceed budget and 59 percent passed the intended schedule. To find a solution to the problem, most researchers have conducted studies focusing on identifying the negative contributing factors in ERP implementation. These factors are called "Critical failure factors". There is currently a lack of empirical research where information has been gathered from ERP providers. The research found is based on old theories for which factors contribute positively and negatively to an implementation process. These theories are being used by most researchers in their studies regarding the implementation of the ERP system. This study therefore focuses on ERP suppliers' perspectives on negative contributing factors in implementing ERP systems. Major emphasis has been placed on collecting factors from ERP providers in order that at a later stage in the study they can address the factors mentioned in previous studies to find relationships and possible deviations. The study used interviews as data collection method and five interviews have been conducted with experienced ERP providers. The result of the collected material from ERP providers identifies a number of critical factors that can be linked to factors from previous studies. Interestingly, the study also identified a number of factors that differ from previous studies. The conclusions that can be deduced from the study are that the implementation processes can be improved and become significantly more efficient with the help of the new insight into the problems that the ERP providers lifts up. Awareness of these negative contributing factors in implementing an ERP system contributes knowledge in the field of implementation processes, which in turn can be used by companies and individuals to facilitate and prevent the problems that may arise in such a process.

Purpose: The purpose of this study is to identify and develop relevant keyperformance indicators within the warehouse operations in amanufacturing company, and how they can be used for control. Research question: In a manufacturing company, which are the most important KPIs forcontrolling and monitoring the warehouse operations, and how can thoseKPIs be developed?Methodology: This master thesis is based on a case study at a pharmaceutical companynamed Fresenius Kabi. A qualitative approach has been used whereprimary data was collected through 10 structured &amp; semi structuredinterviews and through observations in the warehouses to understand thecurrent state. Secondary data was used in form of academic papers to seewhat previous research had to say about KPIs and operation &amp; processmanagement. Internal documents were also used as a secondary source. Findings: Two key performance indicators have been developed, productivity andcost efficiency. A template has been designed to produce the KPIs. Thisstudy contributes to the understanding of how to develop KPIs that fits amanufacturing company´s warehouse operations and a recommendation onhow you could develop a system for producing the data.