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HHL LEIPZIG GRADUATE SCHOOL OF MANAGEMENT FALL 2019 Sustainability Regional New Course Executive Research Outreach Portfolio Education Common Cooperations Future Skills Broad Academic and for Future Program Focus Impulses Leaders Portfolio page 6 page 11 page 15 page 16 … and many more insights into HHL’s research, teaching and campus activities
02 HHL NEWS FALL 2019 www.hhl.de HHL NEWS FALL 2019 03
INTRO EDITORIAL
Numbers
We Are Proud Of 120+
Dear HHL Community,
#1 #2
More than 120 years of
experience and innovation in
entrepreneurial education.
Founded in 1898, HHL is the We publish our summer edition of the 2019 HHL news on And we create awareness for the importance of leader-
1st and oldest business the morning we celebrate the graduation of 220 HHL stu- ship in this context. We need business leaders that shape
Entrepreneurial Second highest university in Germany. dents from 65 nations. My sincere congratulations to all of organizations and societies, that help to identify entre-
University starting salary of its you! From now on you are HHL alumni and ambassadors preneurial opportunities and motivate people to collabo-
for your alma mater, wherever your careers will take you! ratively build on these opportunities. To do this, we have
graduates worldwide This year’s graduation is accompanied by a very special for example developed our HHL Leipzig Leadership Model
(USD 77,236) ceremony. We are proud and delighted to award the hon- as a discussion framework to reflect on good leadership.
Startup Radar 2018 The Economist Masters in Management
orary doctorate Dr. rer. oec. h.c. to the German Chancellor And as a result from these elaborations, we have also rec-
Founder’s Association for German Science Ranking 2019
Dr. Angela Merkel for her leadership accomplishments and ognized the tremendous impact Angela Merkel has on the
her resulting impact on management science. scientific and professional discussion on leadership – and
hence we have decided to award her with an honorary doc-
#2 #4
torate from HHL.
#1
As many of you are aware, at HHL Leipzig Graduate School
280 + 25,000 + of Management we have a special focus on entrepreneur-
ship. With five unicorns – startups valued at more than
1 billion US dollar – amongst our over 280 HHL startups
The current edition of the HHL news in your hands gives
you a small insight into the wide portfolio of activities in
and over 25,000 jobs that our alumni directly created, we research, teaching and service that HHL offers. You will
feel that this focus has an impact on business and soci- learn about initiatives for regional companies helping them
Program Facilities and ety. In addition, we have many family firm owners, lead- in the challenge of digital transformation, you will get
Companies set up Jobs created Range of access
content other services ers in small- and medium sized enterprises and managers an insight into latest changes in our curriculum like new
by alumni of HHL by HHL founders to overseas
in large companies and non-profit organizations amongst courses on disruptive technologies and you will get sum-
study programs
The Economist Masters in The Economist Masters in The Economist Masters in
our students and alumni. They all spent an important and maries of recent research as the work of Junior Professor
Management Ranking 2019 Management Ranking 2019 Management Ranking 2019 defining time with us which – as we hope – helped them to Erik Maier on mobile product search. Above all, we want
become the personalities they are today. to give you an idea of what HHL contributes to a great
student experience, insightful and relevant research and
When we teach entrepreneurship and support the devel- development of companies in Saxony and beyond.
#2 #1
5 Unicorns opment of an entrepreneurial spirit, we integrate a strong
long-term perspective on the triple bottom line. The deci- I hope you enjoy our HHL news.
“
sions of business leaders have a significant impact on busi- Yours sincerely,
nesses, but also on ecology and society, and we encour-
age our students to reflect on the wider consequences
This is a quote from this text
their decisions have. We discuss with them that economic
HHL startups Master in Management to create a lively impression.
objectives cannot be the only guiding principles but that
valued at more than globally Most popular they have a bigger responsibility than to just focus on Prof. Dr. Stephan Stubner
USD 1 billion
THE Ranking 2019 of “Times Higher business school short-term financial gains. Dean of HHL Leipzig Graduate School of Management
Education & Wall Street Journal”
in Germany
trendence Graduate Barometer
Table of Content
02 Intro
03 Editorial
04 People
06 Faculty
12 Publications
14 Teaching
18 Campus Imprint
22 Services Publisher: HHL Leipzig Graduate School of Management,
Jahnallee 59, 04109 Leipzig, Germany
+49 341 9851-60 info@hhl.de @hhlnews #hhl www.hhl.de
23 Event Reviews Contact HHL News: hhlnews@hhl.de Publication Date: August 2019
ISSN: 1433-934X ISSN (online): 1867-8017 V.I.S.D.P.: Executive Management
24 Event Calendar of HHL: Prof. Dr. Stephan Stubner, Dean of HHL, and Dr. Marcus Kölling,
Chancellor of HHL Editors: Daniela Neumann, André Hädicke
Photos: Michael Bader, Iona Dutz, HHL, Steffen Kugler (Bundes-
regierung/Bundespresseamt), Daria Nepriakhina (unsplash.com),
andreas160578 (pixabay.com), Daniel Reiche, Jens Schlüter, Dominik Wolf
Cover Image: Daniel Reiche Layout: Stefanie Bader
Thank you to all contributors and proof readers of this edition.
This edition of HHL News has been produced 100% climate neutrally.
04 HHL NEWS FALL 2019 www.hhl.de HHL NEWS FALL 2019 05
PEOPLE PEOPLE
Honorary Doctorate Awarded
to Federal Chancellor Dr. Angela Merkel
On August 31, 2019, HHL Leipzig Graduate School of
Management confers an honorary doctorate on the Ger-
man Federal Chancellor Dr. Angela Merkel. On the occa- Lennard Schmidt New Manager of Marie Schwimmer – Dijana Galijasevic – Claire Briatore –
sion of the 2019 graduation of 220 Master and doctoral Receives DAAD Research Alumni Relations With New Research Associate For More Presence, Purpose Online Marketing Manager
students, Christine Lagarde, Managing Director of the Grant For Digital Marketing HHL Experience With a Penchant for Fashion and Compassion With Open Doors
International Monetary Fund and designated President Research in the UK
of the European Central Bank, holds the laudation after In June 2019, Sigrid Fischer took over The Chair of Economics and Business Dijana Galijasevic joined the Chair of Claire Briatore joined HHL in March from
the welcome address of Saxon Prime Minister Michael Lennard Schmidt, research associate the role of Manager Alumni Relations. Ethics has gained a new member in Economics and Business Ethics in June the online marketing agency Projecter.
Kretschmer. at the Junior Professorship in Retail She previously worked in HHL’s Execu- May 2019 – Marie Schwimmer. She was to pursue her doctoral studies in the area She is responsible for HHL’s online mar-
and Multi-Channel Management, was tive Education Department and prior to awarded a Karl Schlecht Foundation of ethics and responsible leadership in keting and our schools visibility on all rel-
HHL decided to confer the degree based on the impact awarded a one-year research grant from that was a member of the Career Devel- scholarship and is a member of the Wit- business. She is a member of the Witten- evant digital channels. In addition, she
that Angela Merkels’ leadership style and achievements the German Academic Exchange Ser- opment team. Before joining HHL, she tenberg Center for Global Ethics, pursu- berg Center for Global Ethics, and holds looks after the maintenance and further
have on the ongoing academic and professional dis- vice (DAAD). The grant gives him the gained extensive international experi- ing her doctoral studies in the field of a Karl Schlecht Foundation scholarship. development of the HHL website and
cussion on leadership. Thus, she contributes to the fur- opportunity to conduct research pro- ence, having earned her B.A. at Indiana business ethics. Her dissertation focuses Her dissertation is titled “Kindness Vir- manages HHL’s social media accounts.
ther development of leadership science which also was jects on digital marketing at the Alli- University Bloomington (USA) and her on ethics in the garment industry, with tue in Business Leadership: From Micro- She especially likes to develop online
highlighted by four esteemed reviewers: Prof. Dr. Bar- ance Manchester Business School in M.Sc. at the University of Edinburgh in the working title “The Requirements for to Mid-Level Implications”. With her campaigns to support HHL’s strategic
bara Kellerman from Harvard University, Prof. Dr. Dieter the UK. At Alliance MBS, ranked 2nd Scotland (UK). She has gained national Obligatory Due Diligence for Companies diverse professional background, from a aims through a sustained increase in
Frey from Ludwig Maximilian University of Munich as in the UK for research power, Lennard and international work experience in in the German Garment Industry”. Dur- governmental role to building a startup, reach.
well as Prof. Dr. Timo Meynhardt and Prof. Dr. Andreas Schmidt will work in close collaboration key account and project management ing her postgraduate studies at Ernst- she has managed to realize her true pas- With her privately-run project Wohn-
Suchanek from HHL. with Prof. Dr. Florian Dost to investigate as well as in the field of career and tal- Abbe Hochschule Jena, she created The sion in bringing more presence, purpose zimmerdinner (Living Room Dinner),
phenomena of consumer privacy, spa- ent development. In close collaboration Happy Market – a secondhand-market and compassion to the business setting Claire Briatore combines her passion for
In partnership with the Opera Leipzig and its Intendant tial analytics and ad consumption. Pro- with HHL Dean Prof. Dr. Stephan Stubner concept. As a volunteer at Fashion Rev- and has been successfully running the good food with her online know-how. Via
Prof. Ulf Schirmer and the Gewandhaus Orchestra, the fessor Dost is a longstanding research and Chancellor Dr. Marcus Kölling, Sigrid olution Leipzig, she draws attention to Positive Business Lab and Exponentially the www.wohnzimmerdinner-leipzig.de
ceremony is embedded in a historic and festive setting partner of the Junior Professorship, and Fischer will be making sure that HHL’s the impacts of the fast fashion industry. Human initiatives. website, she invites people into her
with over 1,200 guests. has authored multiple articles in lead- close connection to our alumni will be home, cooks a loving 3-course menu
ing journals (e.g., Journal of Market- maintained and cultivated even more for her guests and hopes that they will
We will provide you with an in-depth coverage of the ing, International Journal of Research in extensively. no longer be strangers when they go
occasion in our next HHL news. Marketing). The joint work will deepen home. Her desire is to pass on her pas-
the relationship with both Professor Contact sion for leisurely dinners with good con-
Dost and with Alliance MBS. Sigrid Fischer versations and to create a place where
+49 341 9851-752 Leipzigers from all corners can meet in a
s.fischer@hhl.de cozy atmosphere.
Advertisement: Homefeelio is a startup company founded by HHL students
people-oriented strategies for ongoing
transformation in organizations. In addi-
tion, I look at the role of HRM as a value
driver for the design and implementa-
tion of new digital business models.
What are the challenges of using AI in
human resource management?
One issue is that HRM is a very sensitive
topic because humans are involved and
Prof. Dr. Anne-Katrin Neyer – each of them is special and very hard to
Welcome Back to M.Sc. Student Laura Faaß put into bits and bytes. The challenge,
Maria Gebhardt From PwC as Featured in Video Series New Academic Director at
especially in HRM, is much more com-
a Part-Time Doctoral Student “Deutschlandjahr” the Center for Leading Inno- plex. We need new problem-solving
vation & Cooperation (CLIC) methods, where efficiency and effec-
Welcome back! Maria Gebhardt has The MSc19 student and participant of tiveness play a key role: The fewer cal-
rejoined the Chair of Accounting and the Female Founders initiative Laura “Digitization Is culations needed, the better. To make it
Auditing as a research associate. Dur- Faaß was featured in a video for the short: Problems must be made steera-
ing her studies at Leipzig University, “Deutschlandjahr” video series funded Changing the Future ble. This is a key competence industry
she was a student assistant at the chair, by Auswärtiges Amt. The short film will of Work” and research has to develop in order to
headed by Prof. Dr. Henning Zülch, and showcase a day in the life of her balanc- have more time for decisive people man-
supported the “Investors’ Darling” and ing the life of an HHL student, found- Prof. Dr. Neyer, a warm welcome to you agement, creativity, social needs and to
“Austrian Financial Communications ing her own business and enjoying life as the new academic director at CLIC! develop innovative business models.
Award” projects. Gebhardt majored in in Leipzig in the process. The film was It is a great pleasure to be part of the
business administration and joined PwC produced by Bertelsmann Foundation CLIC Academic Board alongside Prof. What is your mission, Professor Neyer?
after her semester abroad at the Univer- North America and will be available on Dr. Anne Huff, Prof. Dr. Kathrin Möslein AI will reflect the values of its creators.
sity of Nebraska Omaha. She is currently Youtube in the fall of 2019. and Prof. Dr. Ralf Reichwald. A long aca- We are on our way to deploying data-
working with the auditing company demic journey has connected us for driven tools in all areas of our work.
PricewaterhouseCoopers (PWC) in its years and over the past decade, I’ve I want to contribute my part to ensure
Capital Markets and Accounting Advi- been watching closely as the center has that the decisions AI in HRM is making
sory Services (CMAAS) department evolved and to see which topics it has will take into account data from all parts
in Munich. The department focuses on focused on, so I’m even more excited to of the population, otherwise those deci-
helping clients with financial reporting support CLIC with my expertise in digi- sions will impact those whose data is
needs, as well as on M&A, capital market talization on the future of work. not included in the system. The first role
activities and the implementation of a of AI is to be personalized and make life
new accounting standard. Thus, she has CLIC is doing a lot of research in this better for everyone.
hands-on experience that she can lever- field, could you give us some insights
age for the chair’s main research areas: on your special focus? Professor Neyer, thank you for the
reporting, investor relations and capital Sure. My work and research focus on interview.
markets. analyzing the linkages of artificial intelli-
gence (AI) and human resource manage- clicresearch.org/de/
ment (HRM). I develop and implement anne-katrin-neyer
06 HHL NEWS FALL 2019 www.hhl.de HHL NEWS FALL 2019 07
FACULTY RESEARCH FACULTY RESEARCH
Doctoral Summer Meeting Showcases Developing the The Changing Management Quality of German Football Clubs
HHL’s High Performance in Sustainability Research DIGITAL SPACE – HHL’s Landscape of Corporate and Prediction of Success – The FoMa Q-Score 2018
Contribution to Digital Accelerators in
On July 1–2, 2019, doctoral students vey are twofold: First, research on sus- For HHL Dean Prof. Dr. Stephan Transformation Germany – a Porsche AG
Goes to Lisbon and Hamburg
from HHL Leipzig Graduate School of tainability and corporate responsibility Stubner, a special quality of sustaina- Chair Research Project
Management gathered for this year’s is widespread and diverse at HHL, and bility research at HHL is how well it is
summer meeting on “Growth and Sus- second, it is highly successful. aligned with the school’s core compe- In the time since the concept of HHL’s Corporate accelerator programs engag- The HHL Chair of Accounting and Audit- The European Academy of Manage- age, including Professor Zülch’s online
tainability”. Besides enjoying lectures tencies. Professor Stubner explains: DIGITAL SPACE impressed the jury of ing with entrepreneurial startups have ing, represented by chairholder Prof. Dr. ment, founded in 2001, is a learned column in the manager magazin (2019,
from leading thinkers in the field, includ- Carl Weuster, the research associate in “Sustainability is about considering the the “EXIST-Potentiale” competition run become a worldwide, cross-industrial Zülch and research associate Sébast- society that aims at advancing the aca- 7/8, “Der Transferwahnsinn erreicht die
ing Dr. Johannes Meier, CEO of Xi GmbH charge of the survey, elaborates: “Over triple bottom line: people, planet and by the German Federal Ministry for Eco- phenomenon. Dr. Dominik Kanbach and ien Jost, attended the annual European demic discipline of management in Bundesliga”).
Gütersloh, participants also got new 45 publications on sustainability topics profit. HHL, of course, has a lot to say nomic Affairs and Energy earlier this Prof. Dr. Stephan Stubner conducted Academy of Management (EURAM) Europe. With members from 49 coun-
insights into HHL’s greater contribution in five years – that is quite an achieve- in this regard. But if I had to name just year, the project team has made sig- the first corporate accelerator study of conference held in June in Lisbon, Por- tries in Europe and beyond, EURAM
to research on the topics of sustainabil- ment! HHL’s Sustainability and Compet- one recent example from the survey, it nificant progress in detailing the future the German market in 2015. Since then, tugal. Both were invited within the scope has a high degree of diversity and pro-
ity and corporate social responsibility. itiveness academic group provides the would be Tobias Dauth’s work on frugal entrepreneurial support from HHL to the landscape of corporate accelerators of EURAM’s Sport Management Strate- vides its members with opportunities to
majority of our scientific and academic innovation.” In his 2018 case study from founders and established companies. has changed rapidly as a large num- gic Interest Group (SIG) to jointly pre- enrich debates over across a variety of
output, of course, but many other chairs Brazil, Prof. Dr. Tobias Dauth, Holder of Combining the forces of the Porsche ber of new accelerator programs has sent a paper on football management. In research
“
have been complementing its work the Chair of International Management, AG Chair of Strategic Management and emerged while many existing programs their study, the authors developed and
through their own studies in recent and his co-authors explore how frugal Digital Entrepreneurship, the Stiftungs- have been significantly adapted or even operationalized a strategic management Just prior to the conference in Lisbon,
years or plan to do so in the near future.” approaches to innovation – that is, inno- fonds Deutsche Bank Chair of Innova- closed down. framework to assess the management Professor Zülch attended the annual
It is about being successful vations that lower the costs of existing tion Management and Entrepreneur- Therefore, researchers from the Porsche quality of professional football clubs Spielmacher conference in Hamburg,
in the long term. goods or services to make them more ship, and the Sparkassen-Finanzgruppe AG Chair of Strategic Management and using the “FoMa Q-Score”. A rebooted where he presented his assessment on
“
available to the poorest of the poor – Professorship in M&A of Small- and Mid- Digital Entrepreneurship are currently and customized version of the well- “Predictability in Professional Football”
can be used as affordable and envi- sized Entities has been a decisive factor conducting a new study that assesses known balanced scorecard as well as 60+ to high-level practitioners from pro-
In a preliminary survey, Prof. Dr. Wilhelm ronmentally sustainable alternatives to for pushing forward this strategic pro- how existent accelerators have adjusted key performance indicators (KPIs) were fessional football clubs. The clubs face
Althammer, Academic Director of HHL’s
Over 45 publications on established water heater systems. Their ject for HHL. With the DIGITAL SPACE, their design and program focus over implemented within the study in order to high volatility with regard to sport-
doctoral program, together with Vice- sustainability topics in five work shows that such approaches rep- HHL will further strengthen the estab- time. broaden views on the meaning of “suc- ing success, and therefore he assessed
Dean Prof. Dr. Henning Zülch and his years – that is quite resent viable alternatives for developing lishment of startups with digital busi- In a multiple case study approach, all cess” for professional football clubs and the extent to which professional foot-
team from the Chair of Accounting and an achievement! circular products and can contribute to ness models as well as assist small and 26 corporate accelerator programs in compare these along four distinct dimen- ball clubs can be managed in such a
Auditing, gathered information on the a socially inclusive form of environmen- medium-sized enterprises with the chal- Germany are analyzed in order to estab- sions. Moreover, the study offers avenues way that the success is predictable. In
major scientific publications issued by tally-friendly domestic energy use. Pro- lenges associated with the digital trans- lish a holistic understanding of each for further research to provide a better the best European leagues, investment
the HHL chairs over the past five years. Sustainability-related research at HHL fessor Stubner summarizes: “To solve formation. To this end, in the past few individual corporate accelerator. understanding of critical success factors volumes have risen to spectacular lev-
“Sustainability is not just about being covers a wide range of topics, rang- social and environmental problems with months, the specific needs of entrepre- This empirical study represents one of within this highly volatile industry. This els. As in any other industry, strategic
environmentally-friendly as an end in ing from sustainable consumption and entrepreneurial spirit, through innova- neurs with digital business models and the most comprehensive studies in the illustrates the authors’ interest to foster management skills are prerequisites for
itself,” says Professor Zülch, “there is an effective emission regulation to social tion. To me, studies like these showcase of regional small and medium-sized corporate entrepreneurship field. The interdisciplinary research and close the predictability. The Spielmacher confer-
entrepreneurial, a leadership quality to entrepreneurship. Most encouraging, that entrepreneurship, leadership and enterprises have been analyzed in detail, study findings also guide managers gap between accounting, financial com- ence is an event that connects the lead-
it. It is about being successful in the long says Weuster, was to see how impact- sustainability go hand in hand.” building the basis for HHL’s future offer- within corporate innovation in how to munication and strategic management. ing managers and executives within the
term. Our motivation was to assess how ful a lot of the projects proved to be: ings. The detailed concept will be sub- align accelerator design configurations “We would be very delighted to pursue European football ecosystem. The pres-
we, as a leading business school, are “Many of the studies made it into highly mitted to the EXIST program later this with corporate innovation goals and ena- the discussion further at the next EURAM entation was met with a very positive
performing in this area.” According to renowned journals – both in German year and the DIGITAL SPACE is slated to ble decision-makers to build more effec- conference in Dublin 2020”, Professor response by the practitioners’ commu- www.hhl.de/workingpaper177
Professor Zülch, the results of the sur- and international rankings.” www.hhl.de/publications go live in 2020. tive corporate accelerator programs. Zülch concluded. nity, and there has been media cover-
“Just Charge Me Up” – Charging Agile Work Does not Work Top Down – EAA Annual Congress 2019: Insights Digital Transformation –
Infrastructures in the Age of E-Mobility How to Transform Ideas Into Innovation Into Corporate Reporting Trends Time to Leave Your Comfort Zone
cessful implementation of these The Center for Leading Innovation & and guidelines replace fragmented The Annual Congress of the European Digital transformation is one core will constitute the basic technologies
infrastructures, “symbiotic” busi- Cooperation (CLIC) is participating in planning and enable rapid responses to Accounting Association (EAA) is one area within the research activities at for Logistics 4.0 in terms of localiza-
ness models are de facto prereq- the AGILHYBRID project funded by the changes and unexpected events. The of the world’s most renowned confer- the Heinz Nixdorf Chair of IT-based tion, identification and other functional
uisites for operator models that German Federal Ministry for Education control function takes over the agile ences in the field of accounting. Prof. Logistics. “Increasing support of for- aspects. On the cross-functional side,
meet these requirements. Sym- and Research and the European Social work of the team itself. As various inter- Dr. Henning Zülch and research associ- mer analogous processes, by more and technological paradigms such as cloud
biosis here means a direct inter- Fund. The project aim is to understand viewees stated, this is nothing that can ate Sophie Winter (both from the Chair more interlinked information and com- computing and analytical methods like
linking of strategy, stakeholder how the challenges of digitization can be imposed top down: “I think the most of Accounting and Auditing) had the munication technologies, has shifted business intelligence will be a main
requirements and technology use be met with the right competencies and important step is that the employees outstanding opportunity to present the action fields and functions within focus. A third essential point will be on
as well as social and security-rel- skills to create new and smart products are involved at all. If this idea [… agile and discuss their recent research on logistics”, says Prof. Dr. Iris Hausladen. the organizational design and change of
evant requirements. and services in hybrid and agile work work …] is not yours, I’m more likely to materiality conceptions and on strat- business models and processes.
systems. In four leading companies from be afraid of this new approach, of what egy disclosure at the 42nd EAA Annual Professor Hausladen, what does digital-
The Heinz Nixdorf Chair of IT- the building services engineering indus- is expected of me, is my job maybe in Congress, which was held in Paphos, ization mean for logistics in particular? What are exemplary use cases and
based Logistics, represented by tries (WILO SE, BLANCO GmbH + Co KG, danger?” said an employee of one of Cyprus, from May 29–31, 2019. Profes- applications of digital logistics?
Prof. Dr. Iris Hausladen, cooper- Viessmann Digital GmbH, Kölling Glas the industry partners. Based on this ini- sor Zülch presented the paper “Wildcat Obviously, there is a significant impact
ates with the “Netzwerk Ladein- GmbH + Co. KG), CLIC, together with tial study, CLIC and the project partners Inc. – A modular case on materiality con- on logistics activities and services. The The traditional fields within logistics
“Just charge me up” – that could be the frastrukturen” (Charging Infrastructure other academic partners (Martin-Luther- implement, test and validate teaching ceptions and reporting strategies” (co- concept of “Industry 4.0” is one of the are well-suited to describe a potential
slogan of intelligent electromobility. But Network) to examine potential busi- University Halle-Wittenberg, Karlsruhe and learning modules to enable employ- authors: Saskia Erben, Carl W. Weuster, main drivers behind this impact, leading application of digital logistics. An exam-
currently it’s far off the mark, due to the ness models for the operation of charg- University of Applied Sciences, SupraTix ees to independently develop digitally Sophie Winter) and Winter presented to what we also call “Logistics 4.0”. Tra- ple would be distribution logistics. Here,
lack of an adequate network of charg- ing infrastructures, which is one specific GmbH), conducted an in-depth inter- networked business models for intel- her latest study “What determines the ditional and further developed technol- software solutions in combination with
ing stations that would make this pro- field of the chair’s research focus on dig- view study. The findings show that agile ligent, individual and hybrid solutions. quality of voluntary strategy disclosure ogies are no longer isolated, but rather localization and navigation technolo-
cess as easy as charging a smartphone. ital transformation. A first guest presen- companies have to shift responsibility This method toolbox for work-inte- in German management reports?”. Fur- connected to the Internet of Things, gies allow automated route planning to
However, it is precisely the provision of tation has already taken place, enabling away from management and delegate it grated competence development will thermore, Winter served as the session Prof. Dr. Henning Zülch and Sophie Winter enabling the digitalization of logistics determine the best route for the cargo
a nationwide, user-oriented charging a subsequent discussion concerning the to work teams. The teams take respon- be based on social learning in gamifica- moderator of a discussion on financial due to a complete change within the distribution. Without digital technolo-
infrastructure that serves as an impor- current status of the development of an sibility for their own actions. Clear goals tion approaches. reporting and investor protection. The ference and had inspirational discus- value creation philosophy. gies, this wouldn’t be possible. The “last
tant incentive for the purchase of elec- intelligent charging station to be con- congress was an excellent platform for sions during symposia on topics such mile” within logistics is regarded as the
tric vehicles in both the private and sidered from the perspective of poten- our researchers to expand their network as “The Impact of Technology on Man- Which fields of activities constitute most expensive part along the supply
commercial sectors. tial business models. by meeting academics from all around agement Accountants”, “Blockchain logistics in the digital age? chain, as consolidation effects are rela-
the world. and the Future of Accountancy” and tively low. Concepts like DHL’s “Packsta-
Charging infrastructures must be The Netzwerk Ladeinfrastrukturen is “Challenges in Corporate Reporting”. We will experience a concentration on tion”, automated kiosks for self-service
planned, implemented, operated and a cooperation network, in which small This year’s Annual Congress of the EAA The research results of Prof. Dr. Zülch automation technologies like robot- pickup of parcels, would not be feasi-
maintained according to local, regional and medium-sized enterprises together focused on the overarching topic of and Winter provided a valuable con- ics and autonomous driving within the ble without sensor and technological
and supra-regional requirements. This with research institutions deal with pro- new developments and opportunities tribution to the topics discussed in the next years, which will improve the effi- connections to other systems and the
requires a concrete development plan cedures and methods for the cross-sec- in accounting research in light of new community. Winter also attended the ciency of logistics processes. Another customer.
for electromobility and the logistical toral integration of intelligent charging technologies and reporting concep- PhD Forum and got new insights into important field of activity is informa-
supply of users with precisely tailored devices for electric vehicles in technical tions. More than 1,100 delegates from the current trends in empirical financial tion and communication technologies. Thank you very much for the interview,
charging infrastructures. For the suc- infrastructures. www.agilhybrid.de 52 different countries attended the con- accounting research. Functional and cross-functional tools Professor Hausladen.
08 HHL NEWS FALL 2019 www.hhl.de HHL NEWS FALL 2019 09
FACULTY TALKS & PRESENTATIONS FACULTY COOPERATIONS
Young HHL Researchers Impressed Discussing Corporate Entrepreneurship
Student Projects With HHL Students With
at International Conference on Resource Research With Prospective HHL Porsche AG: Concept Opportunities in
Unique View on New
Sustainability in Adelaide Students and HHL Alumni in Shanghai of an Out-of-the-Box the Smart Waste
Business Models in
Product and Shaping Management Market –
Consulting Project with
Sustainability is not only an integral part sibilities of sustainable water supply, On June 27, Dr. Dominik Kanbach, Assis- with young startups, a phenomenon that Employee Services enviaM Meets HHL
of HHL’s DNA, but also “lives” in our land use, mobility and resource produc- tant Professor at the Porsche AG Chair has been growing worldwide in recent Deutsche Telekom
research. The Deutsche Post Chair of tion of a region. The conference contri- of Strategic Management and Digital years. Insights into the latest research
Marketing has been home to the "Sus- butions from various disciplines (civil Entrepreneurship, discussed current projects in this field of the Porsche AG From March to July 2019, the Porsche In the 2019 spring term, HHL realized The Stiftungsfonds Deutsche Bank
tainability Marketing" research area engineering, chemistry, econometrics, research in the field of corporate entre- Chair were presented and case studies AG Chair of Strategic Management its first student consulting project with Chair of Innovation Management and Cooperating With EY
since its establishment more than 20 etc.) all dealt with the question of how preneurship at the Tongji University in from various industries and companies, and Digital Entrepreneurship mentored energy provider enviaM. Since digi- Entrepreneurship successfully com- and McKinsey on the
years ago. to make urbanization more sustainable. Shanghai, China. The interactive session including BMW, Telefónica and SAP, two student teams from the M.Sc. and talization and the Internet of Energy pleted a student consulting project with
Sustainable consumption behavior is held at the Shanghai Youth Innovation were discussed with prospective HHL MBA classes to work on consulting pro- are firmly embedded in the strategy of Deutsche Telekom from April to June Pulse of Logistics
Three researchers from the Sustaina- also a central goal here. and Entrepreneurship Institute at HHL’s students from China and with the local jects for the premium car manufacturer. the company and its parent company, this year. The student team, consisting
bility Department, headed by Dr. Anja partner university focused on how alumni community of Shanghai. Thanks The MBA team worked on an innova- Innogy SE, the consulting support and of Raphael Asamer, Lucas Costantino, Enabling students to experience out-
Weber, are focusing in particular on sus- established companies work together to Tongji University for hosting us! tion project and developed a strategic expertise from HHL was highly appre- Daniel Kanaan, and Benedikt Tostmann, standing but also practice-oriented
tainable consumer behavior in an inter- The HHL researchers concept for an “out-of-the-box” prod- ciated. Four M.Sc. students success- worked on new business models in the and transfer-based teaching has always
national context. Thus, the International contributed to the discussion uct that provides additional benefits to fully analyzed the potential of the smart entertainment field and presented their been a focus at HHL. The Heinz Nix-
Conference on Resource Sustainability, within two presentations and Porsche customers and addresses the waste management market and came results twice to an audience of Telekom dorf Chair of IT-based Logistics has set
held in Adelaide, Australia, from July 1–3, a moderated session with blind spots of the car. They presented up with interesting business cases and employees at the Telekom headquarters up different forms of cooperation with
gave the researchers a unique opportu- the product prototype and its ideal use possible market entry strategies. Dur- in Bonn. The project was a great suc- excellent business partners to connect
interesting research results.
nity to reflect on their findings with col- case at the Porsche headquarters in ing the market analysis, the students cess. The students were able to present scientific know-how with real-life busi-
leagues from around the world. Anna-Katharina Jäger’s presentation Stuttgart. The M.Sc. team developed identified several pain points, e.g. inef- a unique view on the field and created ness requirements. Since 2014, Ernst &
(“Construal level and construal fit a comprehensive concept on how to ficient logistical processes as well as the highly innovative concepts and high- Young has collaborated with the chair
The central topic of the conference was between sustainable products and envi- strengthen the employee services eco- wrong mixing of different waste types. quality project documentation. The pro- to develop practical case studies to be
the ever-progressing global trend of ronmental messages: Evidence from an system at Porsche Leipzig. The team The results opened up a large num- ject was supervised by HHL alumnus taught in class.
urbanization and its effects on the eco- implicit association test and a field exper- identified gaps in the service portfo- ber of opportunities for feasible busi- Johannes Deubener from Telekom and
logical, social and economic sustainabil- iment”) was even awarded the “Best Oral lio, derived a benchmark analysis with ness models. After the first success- PD Dr. habil. Dorian Proksch from the Furthermore, since 2018, a research and
ity of our life. Today, more than 50% of Presentation Award” by the conference offers from other companies, and finally ful cooperation between enviaM and Chair of Innovation Management and teaching cooperation with McKinsey &
the world’s population lives in cities, by management. By participating in such came up with an extensive concept that HHL, we are looking forward to contin- Entrepreneurship. Company has produced several case
2030 that figure is likely to rise to 75%. interdisciplinary conferences, HHL is able included a variety of scenarios on how uing to work together on the future of studies for in-class teaching as well as
The emerging megacities do not grow to promote the worldwide exchange of to shape the employee ecosystem at smart cities. HHL alumna Claudia Tänzer a paper submitted to the Journal of Air
sustainably, but instead exceed the research and to provide impetus for a Porsche. The solutions were presented from enviaM and the Stiftungsfonds To start a cooperation, please contact: Transport Management. In 2019, another
“urban carrying capacity”, i.e. the pos- more sustainable future. to the top management board. The two Deutsche Bank Chair of Innovation Man- Martina Beermann promising cooperation with BaXian
projects underline the close partnership agement and Entrepreneurship super- Director Career Development/ Group, an IT security consultancy firm,
between Porsche AG and HHL Graduate vised the project. Employer Relations started by providing HHL students with
Dr. Dominik Kanbach (center in 2nd row) together with workshop participants School of Management. +49 341 9851-887 the latest insights and practical guest
at Tongji University martina.beermann@hhl.de lectures.
International Outreach for
CCTPE Research on Diversity and
Performance in Private Equity It’s all About Values: New Service Offerings to Support Private Equity Think Tank CCTPE
Teaching Corporate SME Corporates and Individuals Wins Two More Prestigious Consulting
Digital Responsibility
The digital transformation, with all decided to extend his advisory and edu-
Companies as Sponsors
One of many forms of how HHL aims for its required structural and cultural cational service offerings to the area of
excellent teaching is the combination changes, fixed asset investments and corporate finance. The Center for Corpo-
of co-teaching and choice of highly rel- its need for research and development rate Transactions & Private
evant topics. In the M.Sc. course “Global is and will remain the key challenge The new “Corporate Finance Practi- Equity (CCTPE) has achieved
Governance and Corporate Responsi- for small and midsized entities (SMEs). tioner Portfolio” comprises advisory another milestone on the
bility”, Prof. Dr. Andreas Suchanek and According to the Creditshelf investment services for value-based manage- way to becoming Europe’s #1
Dr. Martin von Broock, CEO of the Wit- study “Finanzierungsmonitor 2019”, two ment, transaction support and financ- think tank for private equity.
tenberg Center of Global Ethics (WCGE), Trust Requires the third of SMEs in Germany worry about ing choices. Maximilian Schreiter, who One of the largest interna-
discussed issues concerning corporate Organization of Trust being overextended by the transforma- oversees the project, points out: “We tional consulting firms and
digital responsibility – a topic which has tion ahead. Executives are insecure to help SMEs in setting up an investment one of the Big Four – EY –
gained momentum due to various inci- make strategic, investment-heavy deci- decision process that reflects the uncer- recently joined the prestig-
dents involving Facebook, Google, and On June 19, the Wittenberg Center for sions and are uncertain about establish- tainty they face, the financing that is ious pool of CCTPE support-
other tech firms. Global Ethics (WCGE) held a sympo- ing innovative partnerships. The reasons available and the opportunity costs they ers alongside Andersch AG, a
sium titled: Change, Trust, Responsibil- are manifold: hesitant leadership, inno- have, in particular when it comes to less leading restructuring consul-
YouTube, with its pedophilia problem, ity – The Role of the Economy in Times vation-unfriendly corporate cultures, tangible digital investments. Beyond tancy firm based in Germany.
and Google’s Dragonfly project in China, of Social Upheavals. Prof. Dr. Andreas a shortage of technical know-how, but that, we contribute to HHL’s Executive From left to right: Dr. Benjamin Hammer, Executive Director
are just two of many examples show- Suchanek, together with Katharina de also “a lack of expertise and tools in Education initiatives by offering semi- Dr. Benjamin Hammer, Exec- CCTPE; Michael Kunz, Market Segment Leader Private Equity
Germany, Switzerland, Austria, EY; Cord Stümke, TAS Leader
ing that even the biggest global cor- Biasi, who successfully completed her financial decision making”, as Alexander nars to practitioners and we are also utive Director of the CCTPE: Private Equity Germany, Switzerland, Austria; Prof. Dr. Bernhard
porate players do not always practice doctoral studies at HHL last year, dis- Lahmann, Professor of Mergers & Acqui- going to provide free online tools for “We are very much look- Schwetzler, Academic Director CCTPE
Prof. Dr. Bernhard Schwetzler and Dr. Benjamin Hammer their corporate values. Based on stu- cussed the necessity of keeping an eye sitions of Small- and Midsized Entities, some first indicative assessments and to ing forward to working with
dents’ presentations, these two cases on continuity in times of change. One explains. “The reflection of uncertain- raise awareness of critical levers.” these top-notch consulting compa-
Prof. Dr. Bernhard Schwetzler and and Returns”. Dr. Hammer continued to were extensively discussed and ana- of the main findings of the discussion ties, the assessment of flexible decision nies and are grateful to Michael Kunz Zeitung, Boston Consulting Group,
Dr. Benjamin Hammer were recently present his papers at conferences this lyzed. A thought from student Maximil- was that the more trust there is, the paths or a clear value-based investment Contact and Cord Stümke from EY as well as Carlsquare, Handelsblatt, Neuberger
invited to present the latest CCTPE year in Chicago and Birmingham (USA) ian Rudolph fits perfectly to this point: more willingness there is to be open process have not been established for Maximilian Schreiter Dr. Martin Schneider and Ralf Winzer Berman, Nordic Capital, Palero, as well
research at the Invest Europe CFO as well in Munich and Trier. to an uncertain future. But trust needs the majority of SMEs.” Together with +49 341 9851 632 from Andersch AG for their support. as the law firm Skadden, Arps, Slate,
Forum, held in Valencia, Spain, from June
11–12, 2019. The event brings together
CFOs, COOs and senior finance and fund
Three more conferences in the USA
and Asia will follow this year. Exter-
“
The speed and complexity
familiarity and thus rules, routines as
well as people who ensure that serious
disadvantages will not arise during the
his team, Alexander Lahmann therefore
Corporate Finance Practitioner Portfolio
m.schreiter@hhl.de Our sponsors give us valuable insights
into practice, which often leads to rel-
evant research questions. On the other
Meagher & Flom and ValueTrust.
Bernhard Schwetzler, Academic Director
operations executives from the private nal doctoral students Suleiman Naiem, change process. Here, as it is often the hand, we offer academic support and of the CCTPE adds: “Our pool of spon-
of today’s accelerated
equity industry to discuss their rapidly Sven Mettner and Norbert Wünsche case, leadership plays a central role. As a Value-based Management Transactions Support Financing Expertise a lively exchange with the current stu- sors not only comprises private equity
and globalized business
evolving roles amid ongoing regulatory presented their papers at the INFINITI useful support tool, Professor Suchanek dents from one of the most renowned funds and investors, but also lawyers,
and economic developments. Professor Conference on International Finance
environment requires presented the ethical compass for good Financial Planning Commercial Due Diligence Capital Structure
business schools in Europe.” advisers, media representatives and
Optimization
Schwetzler gave a talk on “The (R)evo- in June in Glasgow. Julian Kaboth and companies to follow a leadership, whose central principle is Financial Due Diligence services providers. This offers a unique
Liquidity Management
lution of Value Creation Strategies in Pri- Maximilian Schreiter gave presentations holistic value system to “Do no harm”. Particularly with respect Target Identification
Debt Planning and
Besides the two new partners, the group setting for collaboration and exchange
Risk Management
vate Equity”. Dr. Hammer spoke about at the 23rd Real Options Conference in carefully consider social, to change processes, leaders should
Investment Decisions
Corporate Valuation of sponsors includes several compa- that is unprecedented in Europe and will
“Gender Balance and Performance: London, which took place from June environmental and moral be encouraged to be aware of possible Economic Value Added
Corporate Tax Management
within Groups
nies active in the private equity sector, enhance public understanding of this
Deal Structuring
Exploring the Link Between Diversity 26–29, 2019. implications of decisions. harm and limit it as far as possible. including AssetMetrix, Astorius, Börsen- asset class in the long-run.”
10 HHL NEWS FALL 2019 www.hhl.de HHL NEWS FALL 2019 11
FACULTY GENERAL NEWS FACULTY REGIONAL OUTREACH
First Spinoff at Public Lecture HHL and Konsum Leipzig – Smart Infrastructure Ventures –
the Deutsche Post at the Source of Two Local Heros Cooperate First Private Venture Capital Fund in
Chair of Marketing: the Blue Nile
Mission2Impact Two local heroes are working together ers have to say and agile to implement,
the New German Federal States
more closely: Konsum Leipzig eG and but also provides us with rich field exper-
In April, the Deutsche Post Chair of Mar- HHL Leipzig Graduate School of Man- tise and a deep understanding of the
keting marked the first company founda- agement are now cooperating through local retail landscape.”
RICHARD WAGNER’S
tion in its 20-year history. With Mission- student consulting projects, in execu-
2Impact, Prof. Dr. Manfred Kirchgeorg, tive education and applied research. The The initial result of the cooperation was a
Dr. Silko Pfeil and Rico Manß are pursu- cooperation, championed and enabled project in which students consulted Kon-
MASTERPIECES
ing the idea of “translating” the latest by the Leipzig Chamber of Commerce, sum in the development of a tool to eval-
findings, approaches and methods from was formally signed for three years. uate prospective store locations. “Open-
science into feasible concepts and mak- “We can achieve a lot if two institutions ing new stores is of key importance for
ing them accessible to practitioners. so deeply rooted in Leipzig join forces”, Konsum’s continuous growth. In only
The company’s name results from its In compositional order says Dirk Thärichen, spokesman of the three months, HHL students developed
two aims: to generate a practical impact Management Board of Konsum Leip- an excellent tool with which we can score
from academic knowledge acquisition In just over three weeks zig, describing the agreement as a “way prospective store locations. From left to right: Prof. Dr. Stephan Stubner (Dean of HHL), Dirk Frohnert
(CEO Smart Infrastructure Ventures), Thorsten Kasten (Head of Retail, VNG),
and to take a holistic approach starting
from the mission statement and strat- During the last week of June, Professor
In his birthplace of Leipzig for an increased knowledge transfer
between theory and practice.” Konsum We already use the tool and it helps
Dr. Eric Weber (CEO SpinLab), Björn Bauermeister (CEO Smart Infrastructure
Ventures) and Bodo Rodestock (Member of the Board of VNG)
egy of a company up to its implementa- Vilks from the Chair of Microeconomics Leipzig, HHL students and the region will us a lot,” says Michael Faupel, Manag-
tion. To meet these goals, Mission2Im- visited Bahir Dar University in the capi- profit from this. Thärichen adds: “Thanks ing Director of Konsum. In turn, the stu- The “Smart Infrastructure Ventures” quality deal flow which leads to attrac-
pact provides access to a network of tal of Ethiopia’s Amhara region, located also to Leipzig’s Chamber of Commerce dents also appreciated the cooperation: fund is investing throughout Germany, tive investment opportunities – also out-
about 60 experts, including 10 profes- at Lake Tana and close to the source of for bringing us together.” Erik Maier, Jun- “We loved the project because we could especially in teams focusing on smart side of SpinLab,” explains Dr. Eric Weber,
sors, all of whom come from the same the Blue Nile. Professor Vilks discussed ior Professor of Retail and Multi-Channel work hands-on with Konsum and do cities, energy & eHealth. The new fund founder of SpinLab, which is also part of
school of thought, but have a diverse
knowledge and experience profile. Cor-
several research projects with faculty
and doctoral students at Bahir Dar Uni- SAVE THE DATE Management at HHL seconds this: “In
retail, we should not only worry about
something data-oriented and technical,
which is directly used by the company,”
will have a volume in the double-digit
millions and is still open for new inves-
the Digital Hub Initiative of the German
Federal Government, where SpinLab
porate clients benefit from this diversity
by involving these experts in tailormade
versity and gave a public lecture enti-
tled “Reflections on the Markets’ Invis- 20. 06. –––– giants like Amazon, but move step-by-
step to improve the competitiveness
says M.Sc. student Bernhard Krum. tors/limited partners. coordinates the Smart Infrastructure
Hub. In addition, HHL Leipzig Gradu-
14. 07. 2022
consulting projects or coaching ses- ible Hand”, which drew an audience of of our own local businesses. In the pro- A recent discussion between Saxony’s ate School of Management, which its
sions as required. economists and management scholars, cess, we need to confront teaching and Minister-President, Michael Kretschmer, Supported by SpinLab – focus on entrepreneurship and whose
but also academics from neighboring research with the reality. Konsum is an Konsum Leipzig and HHL at Saxony’s The HHL Accelerator and graduates have already founded five
www.mission2impact.de fields such as political science. The lec- INFORMATION & TICKETS: WWW.OPER-LEIPZIG.DE ideal partner for us: The company is inter- Retail Day showed that a local coopera- unicorns, belongs to the closer network
a Strong Network
ture critically examined the theoretical ested in what our students and research- tion can also help to put matters on the of the fund. Therefore, Prof. Dr. Stephan
foundations of claims about competi- political agenda. The discussion cen- Smart Infrastructure Ventures has a Stubner, Dean of HHL and co-founder of
“
tive markets which are widely attributed tered on retail concepts for urban and strong network of partners: SpinLab – trivago, agreed to join the Smart Infra-
to Adam Smith, and discussed their rural areas, but also on retailers’ need to The HHL Accelerator, has won multiple structure Ventures Advisory Board.
Female Founders impact in academia and politics. innovate and acquire employees. All in awards and has successfully supported
We can achieve a lot if two
Initiative Workshop all, both Konsum and HHL are looking more than 50 startups since 2014.
institutions so deeply rooted forward to continuing their joint work in “Based on our own organically grown Successful Entrepreneurs and
With Leadership Coach in Leipzig join forces. the region. networks, we are able to achieve a high- Business Angels: Investors in
Annekatrin Michler the Fund as its Decision-Makers
These unique conditions convinced
internationally experienced investors as
Entrepreneurial Succession in Saxony – well: Weber initiated Smart Infrastruc-
HHL Female Founders Initiative an IFU Theme Evening With State Minister Martin Dulig ture Ventures together with ex-Lon-
doners Björn Bauermeister, previously
Welcomes 4th Class of Participants an investment banker at BNP Paribas,
and Dirk Frohnert, formerly a portfolio
HHL, represented by the Chair of Inno- applications for competitions and pub- founders have participated and been manager at JPMorgan. Those two gen-
vation Management and Entrepreneur- lic funding. mentored by more than 15 experienced eral partners have been successful busi-
ship, and the local university network women entrepreneurs. We are excited ness angels and invested in the unicorn
SMILE offer a special semester-long In June 2019, three female entrepre- to continue offering this program and Revolut, among other startups. Bauer-
program designed to support women neurs from our program successfully hopefully convince more women to real- meister and Frohnert will be supported
entrepreneurs on their way to establish- participated in the Saxon idea contest ize their business ideas. by a powerful team with a great deal of
ing their own company. Each semester, “Sächsischer Mitmach-Fonds” and were The program is funded by the European experience, which is invested in the fund
up to eleven women are selected for delighted to receive prize money and Social Fund, the State of Saxony, and as well. These include founders of and
the “Gründerinnen-Initiative” (Female support to help put their ideas into prac- HHL and thus can be offered for free. investors in: AdytonSystems, brands-
Founders Initiative). In April 2019, HHL tice. Since the start of the initiative in 4friends, con|energy, E-world, Inter-
welcomed the 4th class of female October 2017, over 40 potential female www.hhl.de/female-founders From left to right: Dr. Marcus Kölling, Chancellor of HHL; Prof. Dr. Stephan Stubner, Prof. Dr. Alexander Lahmann, Professor in M&A of Small- and Mid-sized Entities shop, ipoque, Lieferheld/Delivery Hero,
founders to the program with an initial Dean of HHL; Prof. Dr. Alexander Lahmann, Professor in M&A of Small- and (left) and Martin Dulig, Minister of State discuss current succession challenges Pixaco, smow, Spreadshirt, etc. Frohnert
Midsized Entities; Martin Dulig, Saxon State Minister for Economic Affairs, Labor of Saxonian SMEs
idea workshop, where the participants and Transport summarizes: “The startups we will invest
discussed their ideas and got to know in will highly benefit from this unique
each other. The women were matched On May 14, 2019, the third theme even- financing options. Utilizing the insights to bridge expectations and lay the foun- combination of successful serial entre-
The Female Founders Initiative at with experienced female entrepreneurs ing focused on entrepreneurial suc- of studies on entrepreneurial succession dation for a comprehensible corporate preneurs and investors, as well as from
HHL welcomed Annekatrin Michler, and managers for one-on-one business cession in Saxony took place at HHL in conducted by Prof. Dr. Lahmann and his value that both can agree upon. The dis- our external network of experts.”
the “Ändertainerin” (“entertainer of coaching and mentoring. Leipzig. It was organized by the Insti- team, ongoing trends were at the heart of cussants agreed that succession readi-
change”) and Vice President of the tute for Family Businesses & Entrepre- the evening. One such detrimental trend ness is the decisive topic to work on
Leipzig Chamber of Commerce, to a In further workshops, seminars, and neurial Succession (IFU), led by Alexan- is the diminishing number of successors currently, as finding funding or financial VNG AG and SAB:
workshop on “Women in Leadership” events, they will enhance their busi- der Lahmann, Professor of M&A of Small that are ready to take over a company. support is widely covered by numerous Anchor Investors
held on June 20, 2019. By using acting ness skills, discuss problems related to and Midsized Entities. Addressing this Recent findings show that only 0.6 suc- programs and institutions.
and examples, Michler gave the partici- building their own company, network, year’s topic “Midsized firms, the back- cessors are available for each company Investors in Smart Infrastructure Ven-
pants very interesting insights into per- and challenge each other’s ideas. The bone and future of the Saxon economy”, in dire need of one. The panel guests and The IFU offers independent support to tures include energy and real estate
ceptions of status, communication, and goal is to move the participants out of over 70 representatives from regional the state minister focused on the willing- entrepreneurs and their potential suc- companies, banks, as well as busi-
the different ways of effective (female) their comfort zone to bring them closer companies, banks, associations, advi- ness and readiness of companies to be cessors throughout the preparation for nesspersons, entrepreneurs and busi-
leadership. With her longstanding expe- to realizing their own potential, despite sory firms and auditors participated in succeeded. Together they identified that succession, for estimating the corpo- ness angels. Anchor investors are the
rience, hands-on approach to portray- the challenges of combining work, fam- a lively discussion with the Saxon State generating transparency through read- rate value, for establishing a purchase energy group VNG, which is headquar-
ing day-to-day situations and a conta- ily and personal interests, the lack of Minister, Martin Dulig, as well as our ily available data and the existence of a agreement, and for structuring financ- tered in Leipzig, and the Sächsische
gious sense of humor, she encouraged role models, or simply fear of failing. esteemed panel guests. mid- and long-term integrated financial ing options to support the prosperous, Aufbaubank Development Bank (SAB).
participants to reflect on themselves Moreover, the initiative supports the projection are key factors for succession sustainable economic development of “It is our goal to leverage the opportuni-
and ask specific questions about situ- participants in finding the right type The main points of the discussion readiness. the greater region of Saxony. ties surrounding smart infrastructure as
ations they faced and also provided of financing for their startup projects revolved around the topics of entrepre- well as to use our special access to inter-
detailed advice through roleplaying and by providing contact to investors and neurial succession, fair company valu- Such a degree of information helps www.hhl.de/ifu esting startups in the new German fed-
acting exercises. business angels as well as assisting with ations, preparation for succession, and entrepreneurs and potential successors eral states,” emphasizes Bauermeister.
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