The rapid growth and development of emerging markets have made them noteworthy actors in today’s globalized world. These markets are no longer restricted to resourceful MNCs. The potential these markets represent has also been captured by an increasing number of opportunity seeking INVs. Meanwhile, INVs are different from MNCs. Hence, what influences the entry mode decision of MNCs may not be the case for INVs. Furthermore, studies on INVs present a dilemma between alternative governance structures and FDIs. The objective of this paper is therefore to examine how the different factors influence the entry mode decision of INVs in emerging markets. The factors considered are taken from the conceptual model of Lin (2000). These are entering firm, market environment, partner factor, transaction-specific factor, and competitive strategy. This paper performs qualitative research by conducting semi-structured interviews with four INVs from different emerging markets to address the objective. The findings of this paper support the use of HRC modes, especially wholly-owned subsidiaries, in emerging markets. This decision is mostly influenced by transaction-specific and competitive strategic concerns. Knowledge-based INVs have to protect against leakages and expropriation of their valuable assets. This is why partner factors are of less significance when deciding on an entry mode. The risk of losing knowledge to partners is considered greater than the benefits of sharing risks. Furthermore, local presence signifies long-term commitment and makes it easier to seize emerging opportunities. Moreover, entering firm variables are also significant influencers of the decision. An international orientation is vital for the firm to risk using complex modes in highly uncertain markets. The market environment factor is therefore of less significance because the firms acknowledge that emerging markets are inevitable for niche-serving INVs. Considering the entry mode dilemma for INVs, this paper supports the use of FDIs. INVs need to take strategically optimal choices, despite their being start-ups. Alternative governance structures are not supported due to transaction-specific and competitive strategic variables. The argument supporting alternative governance structures, namely resource and power constraints, can be overcome through leveraging on other sources. The financial constraints are also of less significance due to the low-cost nature of emerging markets. Efficiency and context-specific knowledge can be learnt over time. Meanwhile, control is important in uncertain environments marked by unpredictable conditions. Hence, extant research on this area supporting the use of alternative governance structures is discarded due to the conflicting findings, especially when considering emerging markets. However, this field needs further research to support the findings of this study. Researchers eager to explore this relatively untouched field have more than enough to keep themselves occupied with.

The Triple Helix model promotes interaction between the government, universities and industry through free flow of information. The model is created with a closed system in mind. Free flow of information is illustrated by local interaction, without mention of external influence from e.g. global companies or donor organizations. In developing countries these actors play an important role and may influence the local Triple Helix. This influence is the basis for the main research question of this study.Research was conducted through a case study of Uganda and its hydropower sector. Relevant actors within the sector were interviewed in accordance to three sub questions on University-Industry collaboration. Through a thematic analysis of these semi-structured interviews, empirical results are presented. There is little UI-collaboration within hydropower in Uganda. The foreign actors within this sector wish to collaborate with the university, but request a national framework. A number of challenges to UI-collaboration in Uganda are revealed, which can be generalized as problems of all developing countries, i.e. lack of capital, weak institutions and lack of initiative to more collaboration.It is argued that foreign industry benefit from local knowledge and supports the local Triple Helix interactions. In the university, there is a need for a catalyst to initiate changes to enable increased UI-collaboration. Neither the government nor the industry is able to take this role. Donors are identified as important actors in developing countries and suggested as a catalyst. However, the study finds donors’ way of working to be slowing down the development in developing countries. This calls for a change in donor support, and further research to validate such change is suggested.It is concluded that the open system influence of donors, foreign industry and other similar institutions influence the Triple Helix interactions in developing countries. The model is still valid, as the external influence is supportive of local institutional interactions. To better illustrate the situation in developing countries, The Open Triple Helix model is introduced, which includes external actors as an influence to the Triple Helix model in developing countries.

This thesis addresses valuation of new technology-based ventures. Its main contribution is a framework for new technology-based venture valuation based on use of both empirically identified success criteria and traditional financial valuation theory. The framework is based on the principle that new technology-based venture value is driven by venture success, and that one therefore can assess a venture’s value through assessing its’ performance on criteria indicating success. To our knowledge this is the first framework for new technology-based venture valuation using this principle.In the thesis we conduct a thorough literature review on venture success, and we identify a series of success criteria. We also assess the impact of applying traditional financial theory on the new venture market. A framework is developed based on the theoretical development and the identified criteria. A preliminary empirical investigation to verify the identified factors is also conducted, and an indication of its ability to predict success is assessed. The framework is applied in a case study, and the results are compared to reference values. Conclusions on its applicability and value are drawn.The thesis consists of two main parts. The first part is a theoretically based article aimed for publication and the second part is a report that has a more applied context. Both the article and the report cover some of the same topics, but are aimed at different audiences of readers. Both parts can be read separately.

A global CEO study conducted by IBM in 2006 showed that business model innovation has a higher correlation with operating margin growth than any other type of innovation. It is therefore not surprising that business model innovation is a buzzword increasingly seen in business jargon and literature. However, the field is quite novel and finding ways of approaching and understanding the subject has been more elusive. This thesis presents a comprehensive and academically founded approach to business model innovation, including a framework that can be applied by managers to transform their business, and building capabilities that can become a source of competitive advantage.

As the modern business world has entered a state of what has been called “a hurricane of globalization”, the incentives for manufacturing companies to enhance their competitiveness are higher than ever. Many multinational manufacturing companies now choose to implement operations best practices like Lean Manufacturing in their multi-plant manufacturing networks in order to accomplish this. The Jotun Group is a multinational manufacturer of paint which has established Jotun Operations Academy – a training program for employees – in order to transfer best practices to the company’s subsidiaries. However, headquarters has experienced that the effect of the improvement initiative has varied between the company’s subsidiaries, and wants to learn why this is the case. Literature within the area has recognized several barriers which may occur when introducing new best practices to an organizational unit. The aim of this study is to increase the understanding of the conditions that influence implementation of operations best practices in the subsidiaries of a multinational company. In order to accomplish this, a comparative case study of two manufacturing units in the Jotun Group is conducted, investigating one plant in Flixborough (England) and one plant in Jakarta (Indonesia). Through the comparative case study, the study will i) investigate the degree of best practice implementation in the two subsidiaries, ii) identify factors which have influenced the implementation and iii) provide an explanation for the different outcomes of the two cases. The choice of using a case design builds on voices in the literature which argue that implementation of a best practice depends on multiple contextual conditions. Drawing on the strengths of such a research design, the study employs multiple sources of evidence, such as: semi-structured and un-structured interviews, direct observation, documentation and a survey. Further, in order to guide the collection of empirical data, the study uses theory from seven streams of literature: Absorptive Capacity Theory, Contingency Theory, Change Management, Agency Theory, Corporate Socialization, Resource Dependency Theory, and the cultural dimensions of GLOBE. The background for the comparative study was a perception that the Flixborough-plant had achieved major improvements through employment of the new practices, while not much had happened in Jakarta. The investigations create a more nuanced impression of the current situation; the managers in Jakarta have indeed made some attempts to use the new practices, and the practices are to some degree implemented in the organization. Still, local managers are finding it difficult to achieve results from the new practices, and both managers and other employees are losing focus on the practice implementation. In comparison, the best practices are much more widespread in the Flixborough organization. Employees are found to value the practices to a greater extent than in Jakarta, suggesting that one has achieved a higher level of internalization. This appears to have had a positive effect on the ability to create lasting changes in the organization.The study identifies 23 factors which have contributed to the different states of implementation in Flixborough and Jakarta. These are appearing on three levels of analysis: subsidiary level, company level and national level. The identified factors are used to construct and propose a multidisciplinary model for factors influencing best practice implementation in a multinational context, presented on page 80. Although the findings suggest a complex interaction between multiple factors on different levels, the discussion identifies some particular conditions as major determinants for the different outcomes in the two cases.•First, in line with Absorptive Capacity Theory, the discussion shows how the plant in Flixborough clearly had a major advantage over the one in Jakarta due to higher levels of prior relevant knowledge and practical experience. •Second, the discussion reveals several differences in the way the local change processes were managed, the most essential factor appearing to be local top managements’ efforts as a driving force in Flixborough.•Third, a discussion drawing on Agency Theory goes a long way to explain the different behaviours of the managers at the two plants, as the discussion reveals misaligned incentives between headquarters and local managers in Jakarta. •Fourth, a strictly limited degree of monitoring from headquarters appears to have made room for the misdirected efforts from the Indonesian managers. •Some cultural factors are found to function as potential restraints for the implementation, but not as determinants of the final outcome.For managers of multinational parent companies, the findings imply that providing theoretical knowledge about best practices to local managers is not enough in itself. In order to achieve higher levels of implementation, local managers must both possess a practical understanding of how to translate practices into results, and have incentives to perform considerable efforts on behalf of the implementation initiative. As a contribution to theory, the explanatory power of each of the employed theoretical perspectives is discussed. Further, the study clearly indicates the value of distinguishing between different levels of implementation, and to recognize that a units’ ability to make use of operations best practices is a major issue during best practice transfer. A main limitation of the study is the restricted number of cases, and future researchers are encouraged to test the proposed model on a higher number of manufacturing plants – preferably also across several parent companies.

Problems: How would a decision model that takes into account more aspects and dimensions than just the financial aspect look for smaller service compa-nies? What aspects are important to consider in such a decision model? Purpose: The purpose of this master thesis is to develop a decision model based on previous research, to improve decision making in smaller service com-panies – by considering perspectives that traditional investment calcula-tions ignore. Method: The study was qualitative and was based on both primary and secondary data. As data collection method for the development of the model we used literature search on previous research. The study’s primary data consisted of responses from five smaller service companies. The model was evaluated empirically by five smaller service companies to explore the model’s practical relevance and applicability. Conclusions: The study confirmed the need for a comprehensive investment decision model, since it has been clearly shown that aspects other than the tradi-tional calculation methods could have big impact on an investment deci-sion. The key factors for small service companies has shown to be cus-tomer relationships, previous experience, competitors and corporate strategy. The developed model was based on these factors and was con-sidered as useful and interesting by the responded companies. / Problemformuleringar: Hur kan en beslutsmodell som tar hänsyn till fler aspekter och dimens-ioner än enbart det finansiella se ut för mindre tjänsteföretag? Vilka aspekter är viktiga beakta i en sådan beslutsmodell? Syfte: Syftet med denna magisteruppsats är att med utgångspunkt i tidigare forskning utveckla en modell för att förbättra beslutsfattandet i mindre tjänsteföretag, genom att beakta perspektiv som traditionella investe-ringskalkyler förbiser. Metod: Studien var av kvalitativ karaktär och baserades på såväl primärdata som sekundärdata. Som datainsamlingsmetod för framtagandet av investe-ringsmodellen användes till störst del litteratursökning om tidigare forskning. Studiens primärdata utgjordes av responsen från fem mindre tjänsteföretag, som utvärderade den framtagna modellens praktiska rele-vans och applicerbarhet. Slutsats: Studien bekräftade att ett behov av en heltäckande modell för investe-ringsbeslut finns eftersom det tydligt har visat sig att andra aspekter än de traditionella kalkylmetoderna kan ha minst lika stor inverkan på ett investeringsbeslut. De viktigaste faktorerna för mindre tjänsteföretag har utöver det finansiella visat sig vara företagets anställda, kundrelationer, tidigare erfarenheter, konkurrenter och företagets strategi. Den framtagna modellen som bygger på dessa faktorer ansågs av de responderade före-tagen som användbar och intressant.

The purpose of this study is to examine a preschool's work to counteract traditional gender roles, which strategies are used and how norms about gender roles are produced and treated. The study also examines whether the preschool has an intersectional perspective in it's gender work, which analyzes how they relate to other categories such as ethnicity, race, class, age and sexuality in their work. I have been observing and conducting four interviews with teachers at a preschool with a gender profile. In my analysis I have used Foucault's theories about discourse and power. The results show that the informants had a high awareness of gender and that the main strategies used were: an individual perspective, seeing the individual and not the sex, and a gender-neutral strategy, removing everything that is gendered, for example, in language and environment. The preschool's work implementing the equal treatment plan (Likabehandlingsplan) allowed them to replace their gender profile, which included discrimination based on forms of ethnicity, religion or other belief, disability, sexual orientation, gender identity or expression and age. The results showed some examples of an intersectional perspective, for example, how the preschool worked with sexuality/different family structures and age, but other categories were harder to include, such as ethnicity, race and class. The conclusions I have drawn are that there are risks with these gender strategies. They confirm and reinforce gender roles, and there is a risk that the work is based on a white middle-class heterosexual norm, which means it is based on privileged positions. The work with the equal treatment plan requires an intersectional perspective and a self-reflected approach from the teachers. / Syftet med studien är att undersöka en förskolas arbete med att motverka traditionella könsroller samt vilka genusstrategier som används och hur normer kring genusuttryck produceras och bemöts. Studien undersöker även om förskolan har ett intersektionellt perspektiv, det vill säga hur de arbetar med andra kategorier såsom etnicitet, ras, klass, ålder och sexualitet i deras genusarbete. Jag har gjort observationer och intervjuer med pedagoger på en förskola med uttalad genusprofil. I min analys har jag använt mig av Foucaults teorier om diskurs och makt. Studiens resultat visar att informanterna hade en hög medvetenhet kring genus och att de vanligaste strategierna de använde var ett individuellt perspektiv, att se individen och inte könet, samt en könsneutral strategi, att avlägsna det som anses könat i exempelvis språk eller miljö. Förskolans arbete med sin likabehandlingsplan hade börjat ersätta deras genusprofil, vilket innebar att de även inkluderar förebyggande arbete mot diskriminering relaterat till etnicitet, religion eller annan trosuppfattning, funktionsnedsättning, sexuell läggning, könsöverskridande identitet eller uttryck och ålder. Studiens resultat visar exempel på ett intersektionellt perspektiv, exempelvis hur förskolan arbetade med sexualitet och olika familjebildningar samt ålder. Resultatet visar dock hur det var svårare att arbeta med andra kategorier såsom etnicitet, ras och klass. Slutsatserna jag dragit är att det finns risker med de genusstrategier som jag upptäckte. De riskerar att befästa och förstärka könsroller samt baseras på en vit heterosexuell medelklassnorm, vilket innebär att de baseras på positioner som ständigt privilegieras. Arbetet med likabehandlingsplanen kräver därmed ett intersektionellt perspektiv samt ett självreflekterande förhållningssätt hos pedagogerna.

I en tid när globaliseringen ökar och det blir allt vanligare att organisationer använder multinationella projektteam, så det finns goda skäl att fördjupa sig i hur dessa team kan ledas på bästa sätt. Syftet med den här studien är att utforska hur projektledare tillämpar ledarskapsstrategier för att hantera och dra nytta av pluralismen i projekt med multinationella projektgrupper. Den teoretiska utgångspunkten för studien är de tre strategier för att leda multinationella team som identifierats av Chevrier (2003): låt-gå-ledarskap, relationsorientering och gemensam yrkes- eller organisationskultur. Grunddragen i de respektive strategierna är att lämna det upp till projektmedlemmarna att på egen hand att överbrygga barriärerna; att främja utveckling av relationer och ömsesidigt acceptabla rutiner; att förlita sig på redan etablerade yrkes- eller organisationskulturer. Resultatet har även relaterats till bilden av norsk ledarstil i befintlig teori; en ledarstil som präglas av jämlikhet, kollektivism och konsensus. Det empiriska underlaget för studien har samlats in med hjälp av semistrukturerade kvalitativa intervjuer. Intervjupersonerna var projektledare verksamma inom ett norskt företag med verksamhet i stora delar av världen. Resultaten visar att det främst är den relationsorienterade strategin (Chevrier 2003) som används i den undersökta kontexten. Användningen av den relationsorienterade strategin är starkt kongruent med beskrivningarna av den norska ledarstilen i den studerade litteraturen. De strategitillämpningar som observerades i studien var huvudsakligen framväxande strategier, det vill säga strategin uppstår över tid genom konsekvens i handlingar trots avsaknad av en medveten plan eller en uppsättning riktlinjer som utformas i förväg för att hantera pluralismen (Mintzberg 1987). / In times with increasing globalization and when multinational project teams are frequently used in organizations, there are good reasons to study how these teams can be managed in the best way. The purpose of this study is to explore how project managers apply leadership strategies to manage and take advantage of the pluralism in projects with multinational project teams. The theoretical starting point for the study is the three strategies for leading multinational teams that are identified by Chevrier (2003): Laissez-faire leadership, relationship orientation and relying on transnational cultures. The basic features of the respective strategies are to leave it up to the team members on their own to overcome barriers; to promote the development of relations and mutually acceptable procedures; relying on already established professional or organizational cultures. The results have also been related to the image of the Norwegian leadership style in existing theory; a leadership that is characterized by equality, collectivism and consensus. The empirical basis for the study was collected using semi-structured qualitative interviews. The interviewees were project managers working for a Norwegian company with operations in many parts of the world. The results show that it is primarily the relationship-oriented strategy (Chevrier 2003) that is used in the examined context. The use of the relationship-oriented strategy is highly congruent with the descriptions of the Norwegian leadership style in the studied literature. The strategy applications that were observed in the study were mainly emergent strategies, that is, the strategy arises over time through consistency in actions, despite the absence of a conscious plan or a set of guidelines prepared in advance to deal with the pluralism (Mintzberg 1987).

Humor har visat sig ha många positiva effekter för individers hälsa och kan även ge positiv utdelning i arbetet. Den har nämligen visat sig bidra till ökad produktivitet och kreativitet i arbetslivet, därför kan man anta att det från företagens sida kan finnas ett intresse av att undersöka humor i arbetet närmare då det kan ge bättre utdelning från de anställda. Tidigare forskning om humor i arbetslivet riktar sig främst till anställda inom olika serviceyrken samt vård- och omsorg. Av den här anledningen beslutade vi oss för att göra en kvalitativ studie på en arbetsplats inom offentlig sektor och undersöka mer om hur individer upplever och eventuellt använder sig av humor på arbetet. Vår förhoppning är att det kan bli ytterligare ett forskningsbidrag till hur organisationer och HR-avdelningar bör förhålla sig till humor eftersom den kan bidra till mer glada och produktiva anställda. Vi har till en början redogjort för tidigare teorier kring ämnet humor och visat hur forskningen utvecklats genom åren. Det görs även en genomgång av begrepp som ofta används i samma mening som humor, till exempel skratt och skämt. Efter att ha sammanställt flera forskares definitioner så kunde vi till slut göra en egen definition på vad vi kallar positiv humor. Eftersom upplevelser av humor är individuella har vi utgått från ett subjektivt synsätt som låter intervjupersonerna själva avgöra vad humor är för dem. I intervjuerna har vi fokuserat på individernas upplevelser av humor på arbetet samt hur de påverkas, vi upplever att fenomenet inte har undersökts genom det perspektivet i någon större utsträckning tidigare. Resultatet i undersökningen visar att humor används flitigt och är uppskattat på arbetsplatsen. Medarbetarna upplevde att humor fyllde viktiga funktioner vad gäller skapandet av relationer samt som en hjälp att hantera svåra situationer i arbetet. Intervjupersonerna beskrev även positiva effekter både vad gäller hälsa men också arbetsprestationen. Humor visade sig vara en viktig ingrediens för intervjupersonerna som inte kunde tänka sig att vara utan den på sitt arbete.

Bakgrund: Den privata vårdsektorn är en sektor som karaktäriseras av stark tillväxt. Behovet av vård kommer alltid att finnas och i takt med att människan lever längre ökar även trycket på vården. Den privata vårdsektorn har skapat en debatt i samhället där man ifrågasätter att offentliga medel går till vinster i privata vårdföretag. Därav är det av allmänt intresse att analysera vårdföretagens ekonomiska utveckling och risk. Syfte: Att utreda vilka finansiella strategier privata vårdföretag tillämpar och om de byggt upp tillräcklig finansiell styrka (kapitalstruktur) för en långsiktig utveckling. Metod: Uppsatsen bygger på en kvantitativ metod där information baseras på årsredovisningar under en 10-årsperiod. Utifrån den finansiella informationen beräknas nyckeltal för att beskriva företagens kapitalstruktur och prestation. Därefter görs en ingående analys av resultat- och balansräkning för respektive företag. Uppsatsen använder sig av hävstångsformeln som huvudsakligt analysverktyg för att analysera om företagen vinstmaximerar eller om de har en mer långsiktig finansiell strategi för att uppnå finansiell styrka. Resultat, slutsatser: Genom vår analys av vårdföretagens rörelserisk har utredningen funnit att en rimlig balans mellan rörelserisk och finansiella styrka uppnås vid en soliditet på 40 % som är genomsnittet för bolag på Stockholmsbörsen. De små vårdbolagen (som är den dominerande företagsformen) uppnår mer än väl balans mellan rörelserisk och finansiell styrka. Deras soliditet uppgår i regel till ca 50 %. Företagen har hög lönsamhet och som finansiell strategi väljer de att inte vinstmaximera genom att belåna sig och utnyttja hävstångseffekten. Tre av de marknadsledande företagen har en dålig lönsamhet och en soliditet som är betydligt lägre än börsgenomsnittet. Den låga soliditeten kompenseras helt eller delvis av att företagen har starka ägare med möjlighet att tillföra kapital via aktieägartillskott och nyemissioner vid behov. Den fjärde av de marknadsledande större vårdföretagen har hög lönsamhet och högre soliditet än börsgenomsnittet. Även detta företag väljer att liksom de mindre vårdföretagen att inte belåna sig och utnyttja hävstångseffekten för att maximera vinster. / Background: The private health sector is a sector that is characterized by growth. The need for care will always be, and as the human lives longer it will also increase the pressure on health care. The private health sector has created a debate in the community in which the dividends allocation is being questioned. Hence, it is of general interest to analyze healthcare companies' financial performance and risk. Purpose: To investigate the financial strategies that private health care companies apply and if they have built up sufficient financial strength (capital structure) for long term development. Methodology: The essay is based on a quantitative method where information is based on annual reports over a 10-year period. Based on the financial information financial ratios are calculated to describe firms' capital structure and performance. Thereafter, a detailed analysis of the income statement and balance sheet is made for each company. The essay uses effects of leverage as the main analytical tool for analyzing how firms maximize profits or if they have a more long-term financial strategy. Conclusion: Through our analysis of healthcare companies operating risk, the investigation found that a reasonable balance between business risk and financial strength is achieved at an equity ratio of 40 % which is an average for companies on the Stockholm stock exchange. The small healthcare company (which is the dominant company form) achieve a balance between business risk and financial strength. Their equity ratio is usually around 50 %. Companies have high profitability and as financial strategy they choose not to maximize profits by leveraging themselves and use the effects of leverage. Three of the market leaders have a poor performance and a solvency that is significantly lower than the market average. Their strong owners compensate the low equity ratio with the ability to provide capital through shareholder contributions and new issues as necessary. The fourth of the leading major healthcare companies have high profitability and higher solvency than the market average. This company also chooses to, like the smaller healthcare companies not to use leverage and use the effect of leverage to maximize their profit.