[kand] Kauppakorkeakoulu / BIZ (Open Access)

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    Please Mind the Gender Gap: Evaluating Female Participation in Startup Ecosystems and Its Implications
    (2024) Chialà, Anna; Yli-Kauhaluoma, Sari; Johtamisen laitos; Kauppakorkeakoulu; School of Business
    This thesis investigates the underrepresentation of women in startup ecosystems, focusing on the Finnish startup scene and the Greater Helsinki Area's entrepreneurial ecosystem. It aims to identify the factors contributing to the gender gap in startup entrepreneurship and suggest measures to tackle them. The research methodology is a literature review, utilizing existing studies, reports, and statistical data on female entrepreneurship and startup ecosystems. Women's participation in founding startups is significantly low (European Investment Bank, 2019) and the lack of female founders in startup ecosystems is a cause for concern regarding diversity. It also highlights the importance of addressing the challenges and barriers that aspiring female entrepreneurs face. Generally, male entrepreneurs have been the primary beneficiaries of most global success stories and significant exit profits. When considering all these factors, it is not surprising that the term "tech bro" which originated from Silicon Valley, is frequently used to describe the current startup culture (Kovaleva et al., 2023). Most startups fail (Graham, 2012), and it is well-known that startup entrepreneurship is risky and challenging for everyone, regardless of gender. On top of this, my research indicates that women still face some additional disadvantages, such as smaller networks and less visibility within the startup community. Other factors contributing to the low number of female startup founders include gender stereotypes and biases in the society, limited access to capital, and a lack of female role models. Although there isn’t a universal solution or easy fixes available to increase the number of women as startup founders, this study’s findings suggest several practical ways to stimulate female entrepreneurship. Some examples of these include addressing societal attitudes and gender biases through public campaigns and education, enhancing access to funding for women, and providing targeted mentorship, study and support programs.
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    A Study on Return to Player Percentage via Form-Based Betting in Football
    (2024) Kivekäs, Konrad; Seppälä, Tomi; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    Betting on sports has been done for over two millennia. Apart from the more casual gambling aspect of the sports betting markets different strategies and prediction models have been built to find profits for investors. The possibilities that sport betting markets as a ground for investments and experimentation provide has been researched thoroughly through the last half a century. Sports betting markets have offered similar opportunities for experimentation and investing as financial markets and these markets have been seen as quite like one another. Some claim to have cracked the secrets of sports betting and some do indeed earn a profit from their investment. The reality still is that the business could never have boomed if every player could be able to make profits and the business thrives upon losing players. All is tied to the house’s edge or the bookies cut. Bookies determine the odds and offer these to the players. If a player would blindly choose any odd the expected return for the investment would be 93 % of the initial investment. This figure is the return to player percentage, and it showcases how the bookies make their money. The primary objective of this thesis is to examine if momentum or a team’s current form can be used as an indicator of how they will play their next match. The study will be made by examining the return to player percentage that form based betting offers in different football leagues. Effects of momentum have been researched and momentum shifts particularly have been investigated in the field of sports betting and finance. This thesis focuses on the last 5 games a football team has played and makes a verdict on how the team has performed. By looking at the last 5 games a team has played a bet will or will not be placed depending on the momentum or more simply put the form of the team. Using historical data from 2012-2023 different teams from the English Premier League, Italian Serie A, German Bundesliga and Finnish Veikkausliiga a program is used to cycle through all teams that have played in this period. Two separate studies are made on this premise, one that examines if winning teams keep on winning and another that examines if losing teams keep on losing. The results are pooled by league and return to player percentages, average odds on placed bets, standard deviation of return to player percentages and bets placed are stored for each team. The secondary objective of this thesis is to determine are there discrepancies amongst the leagues and do some leagues offer higher return to player percentages using the two strategies described. Apart from the quantitative analysis of the historical data a literature review is provided introducing the frameworks and studies done in the field. Examinations on strategies used in sports betting, how the market fluctuates and the rationale of gamblers are provided. The results seem to be in favor of form-based betting. The implementations of the two strategies for the four different leagues yielded results that 7 out of 8 times the return to player percentages were higher than the return to player percentage that bookies offer (93%). The strategies do not offer a chance to make profits but form as a key performance indicator could be considered.
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    Suoran ja välittömän yhteyden tulkinta arvonlisäveron vähennysoikeuden yhteydessä korkeimman hallinto-oikeuden ratkaisuissa
    (2024) Lehtoranta, Aada; Mäki, Noora; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
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    Drivers behind ERP System change in a Multinational Corporate Group
    (2024) Antila, Alex; Melgin, Jari; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    ERP systems are essential tools for corporations that are striving to increase efficiency and decision-making in order to gain a competitive advantage. The first ERP systems were implemented in the 1990s and these once state-of-the-art systems are reaching the end of their lifecycle. Therefore, companies are faced with a new challenge of changing their ERP system, which is not only complicated but a highly expensive project. This provided an incentive to research the drivers behind an ERP system change in a multinational corporation. For this research, a case study was conducted on a subsidiary of a multinational corporation that was undergoing an ERP system change. The objective of the research was to gain an understanding of the drivers and benefits behind an ERP system change and the effect that it has on the whole group from the subsidiary company’s perspective. Semi-structured interviews were chosen as the research methodology, and they were conducted to the key personnel of the case company. The findings of this research indicated that the most prominent drivers behind the system change were the technical limitations of the older ERP system and its lack of technical support. The new ERP system is also going to provide the case company with better decision-making capabilities and more real-time information, in addition to enhancing the user experience. In addition to this cost effectiveness and external regulation were identified as drivers behind the system change. The research also found out that the ERP system is going to increase transparency and integration between the parent and the subsidiary company, in addition to providing the parent company with a tool that could be used to increase control over the subsidiaries. However, the ERP system is not used for such measures in the case company due to the high level of pre-existing integration and goal alignment throughout the group corporation.
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    The impact of Enterprise systems on corporate financial management
    (2024) Santala, Santeri; Ly, Pham; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Below is a summary of the profound impact the company’s financial management systems have on its financial management. We will take a detailed look at how this impacts our decision-making process, improvements in operations as well as better financial data presentations. This case study focuses on how companies use enterprise resource planning (ERP), as well as supply chain management (SCM), together with enterprise risk management (ERM) concepts in their processes and risk management. A heterogeneous examination of enterprise systems impact on finances operations is carried out in this research. Multiple areas are found in this study where enterprise systems improve and uncomplicate accuracy and truth of financial reporting tasks using various materials such as academic papers, enterprise stories of companies, and practical surveys. The primary results indicate that corporate systems (ERP in particular) can improve budgeting methods and financial planning significantly thus resulting in more strategic or intelligent decision-making. Integrated analytical properties of these systems enable better more realistic financial management solution by prioritizing efficiency in operations which may involve savings from lower costs as well as fewer human mistakes. The thesis emphasizes the trade-off between the immediate difficulties of implementing enterprise systems and their long-term merits, implying a positive relationship with stock performances after implementation. This exploration adds more knowledge about the strategic value of enterprise systems used nowadays in financial management and advocates for a selective way they can be taken up with the aim of improving business’s financial performance.
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    Ticket Pricing in Finnish Music Festivals
    (2024) van Houtum, Matias; Seppälä, Tomi; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    Ticket pricing has been studied in numerous different applications from the airline industry to sporting events. This thesis aims to do so in the context of Finnish music festivals. The economics of music festivals are firstly examined to give the reader a better understanding of the state of the industry. The market for festivals is highly competitive and on the brink of saturation, which makes ticket pricing decisions more important than ever for festival organizers. The ticket pricing strategies used by Finnish music festivals are first examined through existing literature, diving deeper into multi-tier ticket pricing and dynamic ticket pricing. The thesis also includes interviews with industry experts to gain insights into the empirical side of how tickets are priced and the reasons behind them. The findings from these interviews provide a comprehensive understanding of the current practices and future trends in festival ticket pricing. The main findings of this thesis are that, for a multiple of reasons ranging from brand protection to marketing practices, Finnish music festival tickets are sub-optimally priced. The reasons for sub-optimal pricing are valid in the current market, which is underdeveloped compared to e.g. the United States. The ticket market in Finland is expected to further develop in the future, with no significant barriers in its way.
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    Latest technological advancements in internal audit: A Literature Review
    (2024) Merojala, Juho; Yamada, Ryoko; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Due to the constant growth of new technology the audit profession is living in a time of constant change. This thesis addresses the evolving landscape of the audit profession amidst rapid technological advancements. Conducting a comprehensive literature review utilizing articles from Google Scholar and Scopus, supported by other materials, the study focuses on the latest technological trends impacting internal auditing. Findings highlight the following. Technology of data analytics is found significant, particularly leveraging machine learning algorithms, in enhancing audit processes. Continuous auditing shows promise, but due to cost implications, it is found challenging to implement. Additionally, blockchain technology emerges as a potential asset for continuous auditing. Lastly, the anticipated impact of robotic process automation on internal auditing is not realized as expected. Through this examination, the thesis provides insight into the current state and future direction of technological integration in internal auditing practises.
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    Euroopan kiinteistösijoitussektorin non-IFRS-raportointi: Oikeana suuntana standardointi?
    (2024) Ahokanto, Oskari; Melgin, Jari; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Tässä kandidaatintutkielmassa olen tutkinut lisäisikö kiinteistösijoitussektorin toimialakohtaisten non-IFRS-tunnuslukujen standardoiminen osaksi IFRS-standardistoa raportoinnin arvorelevanttiutta ja laatua. Tutkielma on toteutettu käyttäen tutkimusmetodina kirjallisuuskatsausta. Kiinteistösijoitussektorille ominaisten kertaluontoisten erien vuoksi yhtiöt suosivat non-IFRS-tunnuslukuja, joiden on todettu olevan arvorelevantimpi vaihtoehto IFRS-tunnusluvuille. Euroopan kiinteistösijoitussektorin yhdistys EPRA on julkaissut oman ohjeistuksensa non-IFRS-raportointiin liittyen, jota yhtiöt noudattavat suurissa määrin. EPRA:n ohjeistuksen on myös todettu vähentävän johdon opportunistista julkaisukäyttäytymistä, sekä parantamaan non-IFRS-raportoinnin laatua ja informatiivisuutta. Tutkimuksessa selvisi, että täydet yhdenmukaistamisen hyödyt jäävät todennäköisesti kuitenkin saavuttamatta ohjeistuksen noudattamisen ollessa vapaaehtoista ja sääntelyn vähäistä. Velvoittavuuden lisääminen voisi kasvattaa edelleen kiinteistösijoitussektorin toimialakohtaisten non-IFRS-tunnuslukujen raportoinnin arvorelevanttiutta ja laatua kasvaneen vertailukelpoisuuden ja luottamuksen tuloksena. Tulevaisuudessa olisi arvokasta saada lisätietoa liittyen standarointikehitykseen, esimerkiksi etsimällä vastauksia kysymykseen: Mitkä luvut olisivat kaikille toimialan yhtiöille valideja raportoida?
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    SASB-standardin edellyttämien tietojen esiintyminen Suomessa toimivien rakennusyhtiöiden raporteissa
    (2024) Luukkonen, Jussi; Melgin, Jari; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Kandidaatintutkielmassani keskitytään suurten Suomessa toimivien rakennusalan yhtiöiden kestävyystiedon raportointiin vapaaehtoisen SASB-standardin näkökulmasta. Lähimenneisyyteen asti vastuullisuus- ja kestävyysraportointi on ollut hyvin vapaamuotoista, vaikeuttaen yritysten vertailua esimerkiksi sijoittajan näkökulmasta. Vuonna 2023 julkaistut IFRS S1 ja S2 tarkentavat pakollisen raportoinnin muotoa ja laajuutta. Uudet IFRS vastuullisuusraportointistandardit nojaavat vahvasti vapaaehtoisiin SASB raportointistandardeihin ja oletuksena on, että jatkossakin pakolliset IFRS-standardit tulevat pohjautumaan niihin. Tämän takia juuri SASB on mielekäs tapa tutkia raportoinnin laajuutta kohderyhmässä. Tutkielman tavoitteena on selvittää kohderyhmän yritysten raportoinnin laajuus SASB:n näkökulmasta. Tutkielmassa tarkastellaan kohderyhmän yritysten raportoinnin laajutta ja eroavaisuuksia. Kohderyhmänä toimii 5 suurta Suomessa toimivaa rakennusalan yhtiötä; YIT Oyj, Skanska AB, SRV Yhtiöt Oyj, NCC AB ja GRK Infra Oyj. SASB on kehitetty kilpailijoiden vertailuun ja se sisältää eri raportointistandardit eri alan yrityksille, joten samoilla markkinoilla toimivien suurten yritysten vertailu on mielekästä. Rakennusala on menneisyydessä tunnettu muun muassa veronkierrosta ja hämäristä liiketoimista. Tästä syystä juuri rakennusalan raportoinnin tutkiminen onkin erityisen mielenkiintoista.
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    Navigating M&A: the purpose of MCs in promoting desired outcomes
    (2024) Kurtén, Julia; Taussi, Thomas; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    Mergers and acquisitions (M&A) are strategic tools for companies aiming to grow and expand their operations beyond organic growth. Unfortunately, less than half of these M&A deals achieve their desired and planned goals. However, these desired outcomes can be encouraged by implementing certain management controls (MCs) in the acquired company. These MCs aim to develop a positive view of the acquiree company and the integration process. The purpose of this thesis is to analyse the use of management controls (MCs) in promoting desired results in M&A deals within a family-owned business. The objective is to determine: What management controls are utilized in a family-owned business, what kind of controls are used in a successful integration process, and how management controls can promote desired outcomes in post-acquisition integration. This thesis is a single case study conducted with a qualitative approach, chosen to enable a deeper dive into the specific topic. The empirical data was collected by conducting two interviews with the CFO of a family-owned company, who played a significant role in the acquisition team. However, due to the qualitative approach and the thesis being a single case study, there are limitations to the findings. The findings of this thesis validate the impacts of using MCs in post-acquisition integration. Focusing on MCs that encourage good communication, trust-building, and a thriving company culture facilitates positive perceptions of the acquirer and promotes successful acquisition outcomes. Future research on the topic of MCs utilized by different kinds of acquirers is recommended.
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    Price dispersion in the used-car market
    (2024) Joensuu, Aapo; Kitti, Mitri; Taloustieteen laitos; Kauppakorkeakoulu; School of Business
    What is the mechanism that produces variation in prices for the same good? Some economic theories propose that incomplete, asymmetric information between the buyer and the seller could capture this variation the best. Most notably, I discuss the applicability of information-driven models (e.g., Burdett and Judd, 1983; MacMinn, 1980; Reinganum, 1979) and imperfect information as a source of price dispersion in the used-car market. Another fundamental talking point overlapping with price dispersion has been the concept of price discrimination which implies a systematic effort to charge different consumer segments different prices for the same good. The literature review section seeks to shed light on the most prominent theories and empirical findings on price dispersion in various markets and applies that knowledge to the used-car market which has unique characteris-tics that make valuation mechanism for the good quite tricky. Additionally, I utilize that knowledge in the empirical work about the used-car market in Finland and work to distinguish some of the key components that influence price variation in used cars.
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    Emerging technologies transforming the auditing profession
    (2024) Isotalo, Noora; Pham, Ly; Laskentatoimen laitos; Kauppakorkeakoulu; School of Business
    The primary aim of this literature review is to overview the different emerging technologies changing the audit processes and shaping the auditing profession. Key technologies identified during the research process are Blockchain, Robotic Process Automation and Artificial Intelligence. This research provides a comprehensive review of current literature on how these mentioned technologies are shaping the traditional audit industry. Moreover, it will thoroughly examine the advantages, opportunities, concrete applications, challenges and threats these technologies may bring. Furthermore, the research will explore the changing demand for human resources and the potential characteristics auditors must develop to maintain their proficiency in the changing profession. The results indicate that technologies are replacing or have already replaced the repetitive and time-consuming tasks, yet the need for human auditors remains. Human judgement and professional scepticism are still needed in many tasks, such as analysing results. The role of auditors is transforming to more on performing more value-adding tasks. The increasing role of technology and the evolving tasks of auditors will potentially transform the skill set required in the future. Auditors may need to pose skills such as technology proficiency, communication capabilities, professional expertise, problem-solving and analytical capabilities that are becoming increasingly important. Furthermore, even though there are many advantages of implementing these technologies, many aspects such as ethical and privacy issues should be carefully considered throughout the integration process. To conclude the impact on a bigger picture, the transition is more gradual rather than rapid, with relatively slow increase in unemployment. However, the situation can as well change in the coming years.
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    Implementation process challenges of enterprise resource planning systems
    (2024) Isomäki, Teemu; Seongtae, Kim; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This literature review discusses the implementation of enterprise resource planning systems (ERPs) in organizations that are in the progress of developing their operations to be more efficient. The development of these systems is rapid and in the last decades the availability of these systems has greatly increased. Available features of the software are greater than ever before, and the implementation process has greatly developed. When implementing these systems, the organization must account for many variables. Problems in ERP integration is often met in the implementation process and the management of the project itself. Issues can be solved and min imized through having a dedicated team lead the process and with adequate management. A development in the field of ERPs is the increased number of cloud-based solutions. This makes access to the software easier and inexpensive as before without the need for large investments in technological infrastructure that has been a key cost in ERP usage. These cloud-based solutions have increased the availability of this software while also making them more versatile and modular. ERPs have direct effect on supply chain management as it gives real-time data to lead decision making in operations.
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    Wearable devices, preventive healthcare, healthcare technology
    (2024) Niemi, Emma; Bragge, Johann; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    The various purposes of wearable technology for health are studied and overviewed. The study will concentrate on benefits of wearables for healthcare and quality of life, and look into what the devices could be used for in the future. The most interesting findings relate to how wearables can be used together with artificial intelligence and the internet of things, to make our healthcare systems better and facilitate taking care of one’s health. The article also discusses so called prototypes and possible future scenarios for the use of wearable devices.
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    Vertical Compensation Gap and Corporate Innovation
    (2024) Elonen, Eetu-Pekka; Kim, Seongtae; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This bachelor’s thesis explores the relationship between the vertical compensation gap and corporate innovation. The vertical compensation gap, which is defined as the differences in compensation between hierarchical levels in an organization, has been identified as a crucial factor influencing the corporate innovation outputs of a company. By combining recent literature, this thesis reviews two previously identified frameworks: the tournament theory, which advocates for wider compensation gaps to enhance motivation and innovation through competition, and the social comparison theory, which posits that larger pay disparities can demotivate employees through perceived unfairness and inequality. By conducting a literature review of studies from 2018 to 2023, this thesis identifies conflicting evidence on the impact of the vertical compensation gap on corporate innovation. Some studies suggest in line with the tournament theory that larger compensation gaps can stimulate innovation by promoting a competitive, reward-based culture. Other studies argue that large disparities may lead to reduced collaboration and employee morale, resulting in less innovation. This thesis identifies and evaluates the positive and negative effects of the vertical compensation gap on corporate innovation. The results highlight the complexity and intricacy of the relationship and provides insights on what organizations must consider when designing compensation structures to foster an innovative environment. This thesis not only contributes to the academic discussion on compensation strategies but also offers recommendations for business leaders aiming to maximize innovation through creating a competitive yet equitable workplace.
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    How database normalization and schema versioning improve system efficiency, data integrity, and flexibility in changing business settings
    (2024) Pykälistö, Mateus; Bragge, Johanna; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    With an emphasis on major corporations like Nokia, this thesis investigates the effects of database normalization and schema versioning on system effective-ness, data integrity, and flexibility inside database management systems. The study investigates the implementation issues and successful techniques of these technologies through semi-structured interviews with database administration specialists. The results show that sophisticated schema versioning and normalization great-ly improve data management by enabling systems to adjust flexibly to new re-quirements without sacrificing efficiency. The study highlights several significant obstacles, including the difficulty in implementing schema modifications and the limitations imposed by company regulations. One of the highlighted effective solutions is the combination of schema management tools and version control systems to enhance traceability and rollback capabilities.
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    The use of Generative AI in Knowledge Management
    (2024) Heikkinen, Malena; Bragge, Johanna; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    This thesis explores the relationship between generative artificial intelligence (AI) and knowledge management, focusing on identifying key opportunities and chal-lenges in utilizing generative AI to enhance the knowledge management process in organizations. The research is conducted through comprehensive review and analysis of existing literature in the field. To establish a holistic understanding of how the two concepts can be integrated efficiently the review begins by investi-gating characteristics of the two concepts separately, and only after that delves into the opportunities and challenges that relate to the use of generative AI driv-en technology in knowledge management. The findings indicate that generative AI holds potential to revolutionize knowledge management by providing modern more effective tools to enhance the performance of various aspects of all four stages of knowledge management. Future generative AI driven knowledge management is characterized by better search results, less time spent on document creation, and improved skillsets among the personnel in organizations. The integration of the two does not come without its challenges that need to be taken into consideration to ensure an ef-fective integration. Challenges include data management issues, insufficient knowledge internalization, and social concerns.
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    Blockchain Technology in the Food Supply Chains
    (2024) Rongonen, Anneli; Seongtae, Kim; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    The global food supply chain’s complexities exacerbate issues with transparency and traceability. The lack of transparency and traceability enables opportunistic behaviours leading to food crises, decreased stakeholders’ trust, sustainability issues, and financial losses. This thesis presents blockchain technology as a potential solution to mitigate these problems.   The thesis explores practical applications of blockchain technology within the food supply chain such as smart contracts and blockchain’s integration to RFID technology or VMI strategy. These applications have demonstrated the potential to improve transparency and traceability as well as food quality, consumer trust, sustainability, collaboration, and operational efficiency. Additionally, this thesis examines barriers associated with blockchain implementation such as costs, data fragmentation, and scalability. The thesis was conducted as a literature review and supplemented by real-world Wal-Mart case study in order to provide comprehensive review about blockchain’s opportunities and limitations within the food supply chain.
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    Enhancing Supply Chain Resilience: The Role of an Advanced ERP System in Mitigating Supply Chain Disruptions
    (2024) Järvinen, Anna; Kim, Seongtae; Tieto- ja palvelujohtamisen laitos; Kauppakorkeakoulu; School of Business
    Today, supply chains are global and highly complex. Supply chain disruptions cause dramatic consequences for organizations all over the world. Therefore, both researchers and managers are interested in increasing supply chain resilience (SCRES) of organizations. Many organization’s operations are mainly controlled via Enterprise Resource Planning (ERP) systems. Therefore, new technologies to increase SCRES are often integrated into ERP systems. This thesis explores what should an advanced ERP system be like to support an organization with supply chain disruptions. The research method of the thesis is an analysis of the literature. The findings of the analysis show that an ERP system should integrate cloud technology, IoT, supply chain system integration, big data analytics and artificial intelligence to increase SCRES. No other technologies or other technical elements of modern ERP solutions are discussed significantly in journal articles to increase SCRES. Therefore, I am suggesting an advanced ERP system, that would be cloud-based and integrate IoT, supply chain system integration, big data analytics and artificial intelligence to increase SCRES. This thesis discusses these technologies as integrated to the advanced ERP solution and explores how they can be utilized to increase SCRES via sensing and transforming capabilities from dynamic capabilities theory (DCT).
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    Bridging the Gap Between Sustainability and Luxury
    (2024) Hiipakka, Sini; Mikkonen, Ilona; Markkinoinnin laitos; Kauppakorkeakoulu; School of Business
    This bachelor’s thesis investigates what is currently known of sustainable luxury. Through a bibliometric analysis, three main themes of sustainable luxury in current literature were identified: consumer perceptions, sustainability and CSR integration into luxury narratives, and circular economy implementation. The thesis synthesizes and collects information on all these themes in a novel way. The findings emphasize the importance of congruence between the consumer’s self—identity, the brand, and the brand’s CSR actions and explore how this can be achieved. Throughout the thesis, the significance of cultural differences also becomes apparent. This thesis also gives a variety of specific managerial implications.