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This document provides information for new exchange students attending an introduction session at Maastricht University's School of Business and Economics. It outlines the problem-based learning (PBL) system used, including characteristics of tutorial groups, roles of group members and tutors, and the seven steps of the PBL process. It then provides an example PBL task about WikiLeaks for students to discuss. Finally, it discusses expectations of students and evaluating the introduction session. The overall purpose is to introduce students to the PBL method and provide an example of how tutorial group discussions will be structured.
This document provides information for new exchange students attending an introduction session at Maastricht University's School of Business and Economics. It outlines the problem-based learning (PBL) system used, including characteristics of tutorial groups, roles of group members and tutors, and the seven steps of the PBL process. It then provides an example PBL task about WikiLeaks for students to discuss. Finally, it discusses expectations of students and evaluating the introduction session. The overall purpose is to introduce students to the PBL method and provide an example of how tutorial group discussions will be structured.
This document provides information for new exchange students attending an introduction session at Maastricht University's School of Business and Economics. It outlines the problem-based learning system used, including characteristics of tutorial groups, roles of group members and tutors, and the seven-step process. It then gives instructions for an introductory activity where students introduce themselves and ask each other questions. Finally, it presents a sample problem-based learning task on WikiLeaks for discussion and provides information on follow up sessions.
This document summarizes a double degree program between Maastricht University School of Business and Economics (SBE) and Queensland University of Technology (QUT) Business School. Students can earn a Master of Science in International Business (Strategic Marketing) from SBE and a Master of Business from QUT over the course of one year. The program is only available to five strategic marketing students from SBE who meet the selection criteria of a 7.0 GPA or higher in their first two courses and pass all other courses.
The document summarizes a 1-year double degree program between Maastricht University School of Business and Economics (SBE) and Queensland University of Technology (QUT) that allows students to earn two master's degrees. Students study the first semester at SBE and earn a MSc in International Business, then spend the second semester at QUT earning a Master of Business, with options to major in Marketing or Integrated Marketing Communication. Students write one thesis that fulfills requirements for both degrees. Key benefits include an international educational experience, exposure to two different teaching styles, and earning two degrees in one year at the cost of only one tuition. Selection is competitive with only 5 spots available annually.
The document discusses research on how online investors form self-efficacy when searching for financial information from different sources. A study was conducted where participants had to invest money online after reviewing information from a firm, expert, and peer source. The findings showed that highly efficacious consumers achieved higher profits, perceived higher service value, and had higher usage intentions. Information source credibility and argument quality increased self-efficacy. Participants were segmented into groups that increased, maintained, or decreased their self-efficacy during the search process. The increasing segment was inexperienced but obtained high profits by spending high effort. Implications focused on partnering with credible sources, providing high-quality information, and engaging customers to increase their efforts.
The document summarizes DSM, a life sciences and materials sciences company. It provides an overview of DSM's history, transformation over the past century, business areas including nutrition, pharmaceuticals and performance materials. It discusses DSM's vision, strategic focus on life sciences and materials sciences, key financial figures, and sustainability efforts. The document also includes examples of pricing optimization projects and monitoring tools to improve profitability.
1) The University of Marketing and Finance (UM) has created a new Master's program in Marketing-Finance to train professionals who can bridge the fields of marketing and finance.
2) The one-year program combines marketing and finance coursework and covers topics like assessing investor behavior, value-based marketing, and developing successful financial products.
3) Graduates of the Marketing-Finance program will be able to understand the relationship between marketing and finance and apply marketing strategies to enhance financial performance.
The document discusses household finance and private retirement provision from a marketing-finance perspective, focusing on trading behaviors and performance of individual investors in options and equities. Key findings indicate that excessive trading, driven by overconfidence and poor market timing, leads to significant losses, particularly in options trading. The text suggests that paternalistic approaches and passive investment strategies, such as index funds, may be necessary for better retirement outcomes among citizens.
The document explores the integration of marketing and finance to develop financial products that achieve high returns with low risk. It discusses the challenges and methodologies for translating customer needs into product attributes, the impact of shareholder activism on firm marketing activities, and the influence of market sentiment on investor behavior. The emphasis is on the importance of interdepartmental collaboration to enhance business performance and create effective financial products.
The document discusses the interplay between marketing and finance, emphasizing how each field influences the other to enhance overall business performance. It addresses questions regarding marketers' contributions to shareholder value and how these dynamics can impact customer and supplier relationships. The program also highlights the importance of market research methodologies and seeks to bridge the gap between marketing and finance through various academic and industry perspectives.
1) The document discusses factors that influence individual risk taking behavior in investments, including perceived return, perceived risk, and risk attitude.
2) An study of 78 students found that risk taking is influenced by subjective risk/return perceptions more than historical data, and subjective risk attitudes predict behavior better than lottery tasks.
3) More overconfident individuals tend to take more risks with their investments. The relationships between risk taking determinants can vary based on the specific domain or asset class.
The document describes the econometrics and operations research program at Maastricht University, highlighting its quantitative focus on economics and business administration for mathematically talented students. It outlines the structure of the bachelor's and master's programs, including core courses, elective tracks, and the importance of study abroad opportunities. Additionally, it emphasizes career prospects and the vibrant student life in Maastricht, including various extracurricular activities and social events.
This document provides an overview and introduction to studying Economics and Business Economics at Maastricht University. It discusses what the programs entail, including the options of International Business Economics, International Economic Studies, and Infonomics. It also outlines course schedules, opportunities for study abroad, and career prospects after graduation such as related masters programs or the job market. Students are encouraged to gain experience through internships or involvement in student organizations during their studies.
Maastricht University's School of Business and Economics welcomes prospective students to its Open Day. The School was founded in 1983 and utilizes problem-based learning. It offers Bachelor's and Master's degrees in various business and economics fields. The Open Day will include presentations on degree programs and studying abroad, demonstrations of problem-based learning, and an information fair. The School prides itself on its international focus, innovative educational approaches, and high rankings.
1. The document provides an overview of the International Business program at Maastricht University, including what is covered, requirements for admission, and student life.
2. It describes the content of the International Business program, which takes a holistic approach to understanding business functions and the international environment. Coursework covers topics like management, marketing, finance, and supply chain management.
3. A typical week for a student includes lectures, tutorials, group meetings, social activities, sports, work, and time spent preparing or relaxing. Students also have opportunities to study abroad for a semester.
The Service Science Factory at Maastricht University collaborates with international companies and students to innovatively design new services through open innovation and co-creation. It brings together multidisciplinary experts from various universities and companies to work on problem-based learning projects. The Service Science Factory aims to support service innovation and economic growth by developing value-adding solutions through its multidisciplinary network and partnerships.
The document discusses the importance of culture for organizations like Shell. It provides three key points:
1) Examples are given of how culture and behaviors have significantly impacted Shell's performance. Culture can enable or undermine even the best strategies.
2) The role of finance is discussed as balancing controls with trust and enabling business performance management.
3) Views are presented that culture and behaviors do not receive enough attention in trainings at Shell, and that neither a good strategy carried out poorly due to culture nor a poor strategy embraced by culture are ideal outcomes. The optimal situation balances strategic and cultural factors.
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This document provides information for new exchange students attending an introduction session at Maastricht University's School of Business and Economics. It outlines the problem-based learning (PBL) system used, including characteristics of tutorial groups, roles of group members and tutors, and the seven steps of the PBL process. It then provides an example PBL task about WikiLeaks for students to discuss. Finally, it discusses expectations of students and evaluating the introduction session. The overall purpose is to introduce students to the PBL method and provide an example of how tutorial group discussions will be structured.
This document provides information for new exchange students attending an introduction session at Maastricht University's School of Business and Economics. It outlines the problem-based learning (PBL) system used, including characteristics of tutorial groups, roles of group members and tutors, and the seven steps of the PBL process. It then provides an example PBL task about WikiLeaks for students to discuss. Finally, it discusses expectations of students and evaluating the introduction session. The overall purpose is to introduce students to the PBL method and provide an example of how tutorial group discussions will be structured.
This document provides information for new exchange students attending an introduction session at Maastricht University's School of Business and Economics. It outlines the problem-based learning system used, including characteristics of tutorial groups, roles of group members and tutors, and the seven-step process. It then gives instructions for an introductory activity where students introduce themselves and ask each other questions. Finally, it presents a sample problem-based learning task on WikiLeaks for discussion and provides information on follow up sessions.
This document summarizes a double degree program between Maastricht University School of Business and Economics (SBE) and Queensland University of Technology (QUT) Business School. Students can earn a Master of Science in International Business (Strategic Marketing) from SBE and a Master of Business from QUT over the course of one year. The program is only available to five strategic marketing students from SBE who meet the selection criteria of a 7.0 GPA or higher in their first two courses and pass all other courses.
The document summarizes a 1-year double degree program between Maastricht University School of Business and Economics (SBE) and Queensland University of Technology (QUT) that allows students to earn two master's degrees. Students study the first semester at SBE and earn a MSc in International Business, then spend the second semester at QUT earning a Master of Business, with options to major in Marketing or Integrated Marketing Communication. Students write one thesis that fulfills requirements for both degrees. Key benefits include an international educational experience, exposure to two different teaching styles, and earning two degrees in one year at the cost of only one tuition. Selection is competitive with only 5 spots available annually.
The document discusses research on how online investors form self-efficacy when searching for financial information from different sources. A study was conducted where participants had to invest money online after reviewing information from a firm, expert, and peer source. The findings showed that highly efficacious consumers achieved higher profits, perceived higher service value, and had higher usage intentions. Information source credibility and argument quality increased self-efficacy. Participants were segmented into groups that increased, maintained, or decreased their self-efficacy during the search process. The increasing segment was inexperienced but obtained high profits by spending high effort. Implications focused on partnering with credible sources, providing high-quality information, and engaging customers to increase their efforts.
The document summarizes DSM, a life sciences and materials sciences company. It provides an overview of DSM's history, transformation over the past century, business areas including nutrition, pharmaceuticals and performance materials. It discusses DSM's vision, strategic focus on life sciences and materials sciences, key financial figures, and sustainability efforts. The document also includes examples of pricing optimization projects and monitoring tools to improve profitability.
1) The University of Marketing and Finance (UM) has created a new Master's program in Marketing-Finance to train professionals who can bridge the fields of marketing and finance.
2) The one-year program combines marketing and finance coursework and covers topics like assessing investor behavior, value-based marketing, and developing successful financial products.
3) Graduates of the Marketing-Finance program will be able to understand the relationship between marketing and finance and apply marketing strategies to enhance financial performance.
The document discusses household finance and private retirement provision from a marketing-finance perspective, focusing on trading behaviors and performance of individual investors in options and equities. Key findings indicate that excessive trading, driven by overconfidence and poor market timing, leads to significant losses, particularly in options trading. The text suggests that paternalistic approaches and passive investment strategies, such as index funds, may be necessary for better retirement outcomes among citizens.
The document explores the integration of marketing and finance to develop financial products that achieve high returns with low risk. It discusses the challenges and methodologies for translating customer needs into product attributes, the impact of shareholder activism on firm marketing activities, and the influence of market sentiment on investor behavior. The emphasis is on the importance of interdepartmental collaboration to enhance business performance and create effective financial products.
The document discusses the interplay between marketing and finance, emphasizing how each field influences the other to enhance overall business performance. It addresses questions regarding marketers' contributions to shareholder value and how these dynamics can impact customer and supplier relationships. The program also highlights the importance of market research methodologies and seeks to bridge the gap between marketing and finance through various academic and industry perspectives.
1) The document discusses factors that influence individual risk taking behavior in investments, including perceived return, perceived risk, and risk attitude.
2) An study of 78 students found that risk taking is influenced by subjective risk/return perceptions more than historical data, and subjective risk attitudes predict behavior better than lottery tasks.
3) More overconfident individuals tend to take more risks with their investments. The relationships between risk taking determinants can vary based on the specific domain or asset class.
The document describes the econometrics and operations research program at Maastricht University, highlighting its quantitative focus on economics and business administration for mathematically talented students. It outlines the structure of the bachelor's and master's programs, including core courses, elective tracks, and the importance of study abroad opportunities. Additionally, it emphasizes career prospects and the vibrant student life in Maastricht, including various extracurricular activities and social events.
This document provides an overview and introduction to studying Economics and Business Economics at Maastricht University. It discusses what the programs entail, including the options of International Business Economics, International Economic Studies, and Infonomics. It also outlines course schedules, opportunities for study abroad, and career prospects after graduation such as related masters programs or the job market. Students are encouraged to gain experience through internships or involvement in student organizations during their studies.
Maastricht University's School of Business and Economics welcomes prospective students to its Open Day. The School was founded in 1983 and utilizes problem-based learning. It offers Bachelor's and Master's degrees in various business and economics fields. The Open Day will include presentations on degree programs and studying abroad, demonstrations of problem-based learning, and an information fair. The School prides itself on its international focus, innovative educational approaches, and high rankings.
1. The document provides an overview of the International Business program at Maastricht University, including what is covered, requirements for admission, and student life.
2. It describes the content of the International Business program, which takes a holistic approach to understanding business functions and the international environment. Coursework covers topics like management, marketing, finance, and supply chain management.
3. A typical week for a student includes lectures, tutorials, group meetings, social activities, sports, work, and time spent preparing or relaxing. Students also have opportunities to study abroad for a semester.
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2) The role of finance is discussed as balancing controls with trust and enabling business performance management.
3) Views are presented that culture and behaviors do not receive enough attention in trainings at Shell, and that neither a good strategy carried out poorly due to culture nor a poor strategy embraced by culture are ideal outcomes. The optimal situation balances strategic and cultural factors.
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Ad
Culture eats Strategy by Tjeu Blommaert
1. 6-12-2010
door AMM Tjeu Blommaert
Culture is omnipotent Culture can kill the best strategic
omnipotent.
plan. There is no contest. If culture is the sum of our values,
beliefs, rights, and rituals, culture is reality.
Foof for Financials, Maastricht 2 december
1
2010
CONCLUSIE: CULTUUR IS EEN
ONLOSMAKELIJK ONDERDEEL VAN
BUSINESS CONTROL
(traditional)
Business
Cultuur is een soft control met
potentieel hard results.
controllers
should visit the
Het innerlijk (houding/attitude) van
medewerkers en het uiterlijk psychiatrist
(arbeidsgedrag) zijn onafscheidelijk.
Het fungeert als cause and effect , als regularly!
leading en lagging.
Fact finding is vaak/meestal te laat.
As the classic work is more
based on fact finding instead of
personal awareness finding.
Foof for Financials, Maastricht 2 december
2
2010
1
2. 6-12-2010
The Balanced Scorecard
Foof for Financials, Maastricht 2 december
3
2010
Control models
EXAMPLE
EFQM (European Foundation for Quality Management) INK-Model
EMPLOYEE
HRM
SATISFACTION
90
90
LEADERSHIP
RESOURCES
CUSTOMER BUSINESS
PROCESSES SATISFACTION
90 140
RESULTS
100 200
150
POLICY & IMPACT on
STRATEGY SOCIETY
80 60
ENABLERS 500 RESULTS 500
Hoe belangrijk is cultuur als het niet expliciet wordt geadresseerd?
Foof for Financials, Maastricht 2 december
4
2010
2
3. 6-12-2010
Meten is weten?
Dat betekent dus ook
ook
What gets
1) Dat de verkeerde dingen
measured, worden gedaan als de
verkeerde dingen
gets done! worden gemeten;
(what gets bonussed, gets done) 2) D di
) Dat dingen niet worden
i d
gedaan, als ze niet
worden gemeten.
Foof for Financials, Maastricht 2 december
5
2010
TELEPLAN int. (as cf0/ceo)
UK Poland
I have just decided to Not stealing from my
start my own boss today, is like a
company . missed opportunity
.
.
(after the Russian dominance)
Foof for Financials, Maastricht 2 december
6
2010
3
4. 6-12-2010
In Maastricht 225 mln
(as chairman of the SvB; 6 weeks only)
Servatius bekijkt nog wat moet gebeuren met de 180 heipalen
die inmiddels voor de campus in de grond geslagen zijn.
Foof for Financials, Maastricht 2 december
7
2010
Minister Vogelaar dd 18 november 2009
Ik moet erkennen, hier is iets niet goed gegaan.
200 mln
Foof for Financials, Maastricht 2 december
8
2010
4
5. 6-12-2010
There is NO business
as usual around the
globe
Do you read
newspapers?
Oke, thanks, then you must
have read the article about
credit crisis discounts!
Foof for Financials, Maastricht 2 december
9
2010
Wat is cultuur?
Cultuur is onze mentale programmering, de
software of the mind .
ft f th i d
Deze programmering ontstaat door de
opvoeding en de sociale context waarin
ervaringen worden opgedaan.
Een sterke cultuur reduceert onzekerheden, verhoogt de
efficiency en snelheid. Mensen hebben dan aan een half
woord genoeg.
Foof for Financials, Maastricht 2 december
10
2010
5
6. 6-12-2010
PDI= Power distance index " Culture is more often a source of conflict than of synergy.
IDV= Individualism index Cultural differences are a nuisance
MAS= Masculinity index at best and often a disaster."
UAI= Uncertainty avoIdance
LTO= Long-term orientation Prof. Dr. Geert Hofstede
11
Foof for Financials, Maastricht 2 december
11
2010
Wat betekent dit nu voor Management Control?
(denk eens aan de Levers of Control van Simons)
Foof for Financials, Maastricht 2 december
12
2010
6
7. 6-12-2010
Het betekent in ieder geval dat
Innovatie in sommige
Het wereldwijd regios beter zal lukken.
rondsturen van
spreadsheets, en h
d h het
vervolgens consolideren Corporate requirements
van de input, een geliefd of gehaat kunnen
cultuurblinde zijn.
vingeroefening is.
Risk-appetite contingente Dat een budget als een
toepassing behoeft.
p g afspraak/contract kan
worden b h
d beschouwd, maar
d
ook als optioneel (en dus dat
diagnostische controls alleen niet
zullen werken)
Foof for Financials, Maastricht 2 december
13
2010
Strategie en Organisatiecultuur
Enkele ideaaltypische organisatiecultuur
kenmerken Het verloop van een product is end-to-end geoptimaliseerd en gestroomlijnd om de
kosten te minimaliseren. Activiteiten zijn gestandaardiseerd, vereenvoudigd, strak
gecontroleerd en centraal gepland, waarbij weinig beslissingen worden overgelaten
aan lager management. Hanteren van vaste normen voor het beheer, en de focus op
OPERATIONAL transacties di snel worden vastgesteld en geco旦rdineerd. E b d ijf l
i die l d ld 旦 di d Een bedrijfscultuur di d
die de
EXCELLENCE effici谷ntie beloont en ineffici谷ntie verafschuwt.
Een losse, adhoc organisatiestructuur die voortdurend zal worden aangepast aan de
nieuwe strategie en de ondernemingsplannen (nodig om te verkennen en nieuwe
gebieden te benutten). Een bedrijfscultuur die de prestaties van de groep stimuleert,
PRODUCT INNOVATION terwijl het opkomen van onverwachte idee谷n wordt gestimuleerd vanuit een toekomst
gerichte mentaliteit. Resultaatgericht managementsysteem dat het succes van een
product beoordeelt en beloont, met de vrijheid om te experimenteren.
Een grote nadruk op het kernproces "solution development" (dwz helpen van de cli谷nt
CUSTOMER om te begrijpen wat er nodig is), resultaat-beheer (ervoor te zorgen dat wat nodig is
ook correct wordt uitgevoerd), en relatiebeheer. Een organisatiestructuur die de
INTIMACY/PROXIMITY besluitvorming delegeert naar de mensen die het dichtst bij de klant staan. Een
managementsysteem dat zich richt op een goed gekozen klantenkring. Een bedrijf dat
is ingesteld op specifieke maatregelen meer dan op algemene maatregelen en op goede
lange termijn relaties met klanten.
Foof for Financials, Maastricht 2 december
14
2010
7
8. 6-12-2010
Organisatiecultuurmodel van Hofstede
1) Proces gericht Resultaat gericht
2) Mens gericht Job gericht
3) Organisatie gebonden Professioneel
4) Open systeem Gesloten systeem
5) Strakke beheersing Los beheerst
6) Pragmatisch Normatief
7) Vertrouwen Wantrouwen
Foof for Financials, Maastricht 2 december
15
2010
Operational Excellence and
the Speed of Trust
SPEED COST
TRUST
Prove me
Trust me
Tell me Show
me
COST SPEED
CONTROL
loose tight R. Covey (2007)
Foof for Financials, Maastricht 2 december
16
2010
8
9. 6-12-2010
Cultuur DNA en verandering.
1) Proces gericht Resultaat gericht
2) Mens gericht Job gericht
Job ge c t
3) Organisatie gebonden Professioneel
4) Open systeem Gesloten systeem
5) Strakke beheersing Los beheerst
6) Pragmatisch Normatief
gewenst nu
7) Vertrouwen Wantrouwen
Foof for Financials, Maastricht 2 december
17
2010
LEVERS of CONTROL
Internal Controls (checks & balances, to reasonably assure good information
and prevent for devilment)
Robert. L. Simons
Beliefs
To contribute Interaction
To create
Traditional
focus
Boundaries Diagnostics
To do right
To achieve
Foof for Financials, Maastricht 2 december
18
2010
9
10. 6-12-2010
Mission , Vision
Credos
Management interaction
Core values
Personal meetings
CSFs Beliefs
Interaction
Challenging assumptions of plans
Culture To contribute Challenging action plans
Commitment To create
Learning/creative search
Inspiration
QBR
Strategic planning systems
Corporate requirements Target setting
Code of conduct Performance measurement
Operational procedures Boundaries Diagnostics Incentive systems
Risk appetite To do right Valuation standards
Defined product markets
To achieve KPIs
(territory)
Budgeting
19
Variance analyses
Input-------Process-------Output
Foof for Financials, Maastricht 2 december
19
2010
LEVERS of CONTROL :
PRACTICE (ex.)
Beliefs 5%
Interaction
Boundaries 10%
10% 75% Traditional
focus
Diagnostics
Foof for Financials, Maastricht 2 december
20
2010
10
11. 6-12-2010
LEVERS of CONTROL :
CHANGE (ex.)
Are you willing to change the balance (and still feeling
strong)?
Beliefs 10%
Interaction This means:
15% the budgeting system is
25% partly replaced with other
Boundaries 50% controls
Diagnostics
Foof for Financials, Maastricht 2 december
21
2010
LEVERS of CONTROL :
LEVERS of CONTROL :
CHANGE (ex.)
CHANGE (ex.)
Or even more challenging, killing some controls and using the
speed of trust ?
trust?
Beliefs 10%
Interaction This means:
20% the budgeting system is
20% replaced with less and other
Boundaries 25% controls
Diagnostics
SELF CONFIDENCE= A POSITION TO PUT TRUST INTO OTHER PEOPLE
PUTTING TRUST INTO OTHER PEOPLE= RECEIVING TRUST FROM OTHER PEO
Foof for Financials, Maastricht 2 december
22
2010
11
12. 6-12-2010
LEVERS of CONTROL :
(bad) PRACTICE (ex.)
Beliefs 10% I t ti 20%
Interaction
Traditional budget focus
mixed with new
20% 75% management styles;
2 worlds
Boundaries
Diagnostics
Foof for Financials, Maastricht 2 december
23
2010
Controllers must sync
their role to the diverse
cultural positions and
desired cultural
changes resp!
Foof for Financials, Maastricht 2 december
24
2010
12
13. 6-12-2010
THIS IS WHERE IT STARTS
(which is awareness)
Foof for Financials, Maastricht 2 december
25
2010
13