DOCSLIB.ORG

SUSTAINABILITY REPORT 2020 Introduction

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SUSTAINABILITY REPORT 2020 Introduction SUSTAINABILITY REPORT 2020 Introduction This Sustainability Report provides information about our Contents major economic, environmental and social impacts, areas of improvement, our risk mitigation activities and how we 2020 in brief 3 maximize the positive environmental contributions of our Focal points of 2020 4 solutions. The report covers in detail how sustainability Strategic role of sustainability 6 is woven into our business strategy, practices and daily Value creation 7 decisions as well as our role in the surrounding society’s ability to prosper. Engaging stakeholders 11 Managing sustainbility 13 Our sustainability work is driven by our key stakeholders, Our core sustainbility themes 16 their ambitions and needs as well as business opportunities Responsible business conduct 34 that can be gained from driving our sustainability agenda. This report explains the strategic link between ambitious Reporting principles and data collection 41 sustainability targets and customer benefits and discloses GRI Index 2020 42 data about our performance and progress in reaching our targets. We have also taken our climate action planning further by analyzing the next steps we need to take to cut our carbon emissions and what kind of opportunities this presents for our business areas. No US Registration Disclaimer In a number of jurisdictions, in particular in Australia, Canada, South Africa, Singapore, Japan and the United States, the distribution of this publication may be subject to restrictions imposed by law (such as registration of the relevant offering documents, admission, qualification and other regulations). In particular, neither the merger consideration shares nor any other securities referenced in this publication have been registered or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and as such neither the merger consideration shares nor any other security referenced in this publication may be offered or sold in the United States except pursuant to an applicable exemption from registration under the U.S. Securities Act. This publication is neither an offer to sell nor the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in the United States or any other jurisdiction in which such offering, solicitation or sale would be unlawful. This publication must not be forwarded, distributed or sent, directly or indirectly, in whole or in part, in or into the United States or any jurisdiction where the distribution of these materials would breach any applicable law or regulation or would require any registration or licensing within such jurisdiction. Failure to comply with the foregoing limitation may result in a violation of the U.S. Securities Act or other applicable securities laws. Information about Konecranes’ Annual Report 2020 Konecranes’ Annual Report 2020 consists of three separate reports: Annual Review, Governance and Financial Review, and the Sustainability Report. All documents are downloadable on our Annual Report website at https://investors.konecranes.com/annual_report_2020 This publication is for general informational purposes only. Konecranes reserves the right at any time, without notice, to alter or discontinue the products and/or specifications referenced herein. This publication creates no warranty on the part of Konecranes, express or implied, including but not limited to any implied warranty or merchantability or fitness for a particular purpose. Year 2020 Sustainability in Konecranes Sustainability themes GRI Index Year 2020 in brief 3,178.9 8.2% 16,900 50 MEUR (-4.4%) Adjusted Numbers of employees Countries where we Net sales EBITA margin (At the end of year) operate Konecranes is a world-leading group of Lifting Businesses™, meet their lifting and material handling needs through manufacturing, mining, nuclear energy, petroleum and serving a broad range of customers. We are truly a one supplier. In addition to offering a wide range of lifting gas, paper and forest, container handling, shipyards, global company: in 2020, we had 16,900 employees solutions, we provide specialized maintenance services power and metals production. We are a part of our in 50 countries. As a leading manufacturer of lifting and spare parts for all types and makes of industrial customers’ processes, as they do not only invest in equipment, Konecranes offers a vast range of advanced cranes, hoists and port equipment – from single pieces of equipment and services but look for solutions they can lifting solutions and services to different industries equipment to entire operations. rely on. We constantly strive to improve our performance worldwide. The solutions provided by our three Business in product design, service solutions, safety and Areas – Service, Industrial Equipment and Port Solutions Our customers operate in various fields, including the sustainability to stay ahead of our customers’ needs. – complement each other and enable our customers to automotive sector, waste to energy and biomass, general 3 Sustainability Report 2020 Year 2020 Sustainability in Konecranes Sustainability themes GRI Index Our mitigation actions have been quick and effective. leadership follow-up call has enabled us to have a full 2020 focal points In March, every Konecranes location developed a local picture of global COVID-19 developments and to share response plan both to prevent infections at the workplace best practices between countries and regions. We have Maintaining health and safety in the and to have clear procedures on how to act should an received positive feedback from both our employees and era of COVID-19 employee become infected or exposed to infected people. our customers on our response and guidelines. Despite The response plans were also drilled at the sites to a number of employees being infected, we have seen The year 2020 was exceptional in Health and Safety due ensure that they were effective and practical. Early on a very limited amount of intra-company exposure and to the global COVID-19 pandemic. The pandemic has had we also issued guidelines to our field staff on how to act transmission. In most of our countries, we have also an impact on both our employees and our customers and at customer sites to prevent any exposure to and from introduced procedures and tools to support the mental subcontractors, necessitating precautions at our own factories our customers as well as a risk assessment procedure to health and well-being of the people affected by the and customer sites. We are a key enabler of secure material evaluate the risk of sending people abroad to, for example, pandemic as well as training for the organization to flow, also in crisis situations. We ensure maintenance, repair customer projects. A major part of the prevention and adapt to remote work. and spare parts in all industries, including critical process mitigation actions are taken by country-specific response industries such as waste-to-energy plants and in ports. We teams, based on local circumstances and guidelines from COVID-19 continues to impact our people and business maintain and deliver equipment to many essential services authorities. operations during 2021. We will continue to monitor globally, which means that we have had to retain our level of the global situation and to carry out mitigation and operations to be able to support our customers in delivering We have issued general guidelines globally for e.g. response measures in all units. Read more about those services, but doing it in a way that protects both our work arrangements and travel, but ownership of the COVID-19 mitigation in the chapter Safe products own employees and customer staff. COVID-19 response has remained local. A weekly global and workplaces. 4 Sustainability Report 2020 Year 2020 Sustainability in Konecranes Sustainability themes GRI Index Driving a culture Finding the focus points of diversity & inclusion in managing human rights Advancing our climate roadmap We aspire to represent the multicultural communities in To ensure we are not neglecting typical human rights risks Limiting global warming requires decarbonization of all which we operate, and we made clear progress in 2020 that exist in the sectors and countries in which we operate, industry sectors, and everyone should analyze their ability on our diversity and inclusion roadmap. Wanting to raise we conducted a human rights risk screening in 2020 with to do their part. It means reviewing how climate change awareness globally and locally, we trained the organization the help of an external service provider specializing in affects the company and how the company contributes to about unconscious biases and the importance of founding human rights. The exercise covered our own activities, the climate change. In 2020, we continued discussions with the company’s culture on diversity and inclusion (D&I). The supply chain, and the use of our products. The focus of the top management and conducted a set of workshops for unconscious bias e-learning is mandatory for all employees. risk screening was on people instead of business impacts. all business areas and the procurement function to define As part of our talent development initiatives, we introduced Health- and safety-related risks stand out as a potential detailed climate-related risks and opportunities. Based on several programs to accelerate the representation of women high-risk area both for our
Load more

Recommended publications
  • Times Are Good for KONE, Neste Oil and Wärtsilä
    Nov 01, 2013 10:39 UTC Times Are Good for KONE, Neste Oil and Wärtsilä M-Index, M-Brain’s quarterly look into the media coverage of 15 large Finnish stock-listed companies revealed that in July-September, KONE, Neste Oil and Wärtsilä were the companies most often at the receiving end of positive publicity. Nokia reached a larger audience than the combined audience of all the other companies surveyed. Positive media coverage – three companies stand out Slightly more than half of KONE’s publicity in the surveyed web publications of Helsingin Sanomat, Kauppalehti and Taloussanomat was positive by tone, an excellent result and a further improvement to the company’s early-year performance. Examples of favourable coverage included positive profit warning and improved stock exchange performance that followed, Forbes placing KONE as an even more innovative company than Google, and reports of large orders that the company won in China. For Neste Oil, almost four tenths of publicity was positive. The company continued its good performance, improving from the last quarter’s one fourth share of positive attention. Most of the favourable coverage was connected with financials. Media reported of Neste Oil’s profit warning and the role of renewables in the improved Q2 result. Wärtsilä was the third company to stand out in terms of the share of favourable publicity. Comparisons to earlier M-Index analyses show that the company has considerably improved its performance in the surveyed media, compared to the last year. More than a third of Wärtsilä’s publicity in Q3 was positive by tone.
    [Show full text]
  • Persons Proposed for the Board of Directors of Yit Corporation
    1 (3) PERSONS PROPOSED FOR THE BOARD OF DIRECTORS OF YIT CORPORATION YIT Corporation shareholders representing more than 20% of the company’s shares and votes will propose to YIT’s Annual General Meeting, which will be held on March 13, 2008, that the following persons be elected to the Board of Directors: As Chairman Reino Hanhinen, born 1943, M.Sc. (Eng.), D.Sc. (Tech.) h.c. Member of YIT’s Board of Directors since 1988 and Chairman 1989–2000 and since 2006. Member of the Audit Committee since 2006. Primary working experience: YIT Corporation President and CEO, 1987–2005 managing director 2000– 2005 Perusyhtymä Oy managing director 1986–1987 YIT Oy Yleinen Insinööritoimisto managing director 1985–1986 Oy PPTH-Norden Ab managing director 1976–1985 YIT Oy Yleinen Insinööritoimisto Division Manager 1974–1976, Work Supervisor 1968–1974 Other positions of trust: Rautaruukki Corporation Vice Chairman of the Board of Directors 2007–, member of the Board of Directors 2006– KONE Corporation member of the Board of Directors 2005– As Vice Chairman Eino Halonen, born 1949, M.Sc. (Econ.) Member of YIT’s Board of Directors since 2000, Vice Chairman since 2003 and member of the Audit Committee since 2004. Primary working experience: Suomi Mutual Life Assurance Company Managing Director 2000– Pohjola Life Assurance Company Ltd Managing Director 1998–1999 Merita Nordbanken Executive Vice President, Regional Bank Manager 1998 Merita Bank Ltd Director and member of the Management Board 1996–1997 Kansallis-Osake-Pankki 1971–1995. Other positions of trust: SATO Corporation member of the Board of Directors 2006– Metsäliitto Osuuskunta member of the Board of Directors 2006– Finsilva Oyj member of the Board of Directors 2005– Cramo Oyj member of the Board of Directors 2003– OKO Bank member of the Board of Directors 2003– Finnish Cultural Foundation Other criteria for influenced corporations 2001– 2 (3) As Members Kim Gran, born 1953, M.Sc.
    [Show full text]
  • Stora Enso 2013
    Financial Report Stora Enso 2013 Stora Enso in Brief Contents Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry. We always rethink the Stora Enso in Capital Markets 2 old and expand to the new to offer our customers innovative Debt Investors 9 solutions based on renewable materials. Corporate Governance in Stora Enso 10 Board of Directors 18 The Group has some 28 000 employees in more than 35 Group Leadership Team 20 countries worldwide, and is a publicly traded company listed Report of the Board of Directors 22 in Helsinki and Stockholm. Our customers include publishers, Consolidated Financial Statements 38 printing houses and paper merchants, as well as the packaging, Notes to the Consolidated Financial Statements 44 joinery and construction industries. Note 1 Accounting Principles 44 Note 2 Critical Accounting Estimates and Judgements 53 Our annual production capacity is 5.4 million tonnes of Note 3 Segment Information 55 chemical pulp, 11.7 million tonnes of paper and board, 1.3 Note 4 Acquisitions and Disposals 61 billion square metres of corrugated packaging and 5.6 million Note 5 Other Operating Income and Expense 62 cubic metres of sawn wood products, including 2.9 million Note 6 Staff Costs 63 cubic metres of value-added products. Our sales in 2013 were Note 7 Board and Executive Remuneration 64 EUR 10.5 billion, with an operational EBIT of EUR 578 million. Note 8 Net Financial Items 68 Note 9 Income Taxes 70 Stora Enso uses and develops its expertise in renewable Note 10 Valuation Allowances 72 materials to meet the needs of its customers and many of Note 11 Depreciation and Intangible Assets and Property, today’s global raw material challenges.
    [Show full text]
  • Governance Governance Covers Part of Stora Enso’S Annual Report 2018 Stora Enso’S Governance Policy, Practices, and Actions As Well As Our Remuneration Statement
    Strategy Annual Report 2018 Governance Governance covers Part of Stora Enso’s Annual Report 2018 Stora Enso’s governance policy, practices, and actions as well as our remuneration statement. Sustainability Financials Governance Strategy Annual Report 2018 Contents Corporate Governance in Stora Enso 2018 ......................................2 Shareholders’ meetings .........................................................................2 Board of Directors (Board) .....................................................................3 Sustainability Board committees ..................................................................................7 Management of the Company ...............................................................8 Internal control and risk management related to financial reporting ................................................................10 Remuneration Statement ................................................................. 11 Decision-making procedure ................................................................ 11 Main principles of remuneration .......................................................... 11 Remuneration Report 2018 ..................................................................13 Members of the Board of Directors .................................................15 Members of the Group Leadership Team ....................................... 17 Appendix 1 ...........................................................................................20 Financials Governance 2 Stora Enso
    [Show full text]
  • Financial Statements
    KESKO'S YEAR 2017 FINANCIAL STATEMENTS REPORT BY THE BOARD OF DIRECTORS 3 Annual General Meeting 17 1.4 Critical judgements in applying Financial performance 3 Calculation of performance indicators 23 accounting policies 36 Segments 5 Analysis of shareholding 28 1.5 Consolidation principles 36 Acquisitions, divestments and other changes in Group 1.6 New IFRS standards and IFRIC interpretations composition in 2017 8 CONSOLIDATED FINANCIAL STATEMENTS and amendments to the existing standards and Main objectives and results achieved in sustainability 8 (IFRS) 30 interpretations 38 Shares, securities market and Board authorisations 12 Consolidated income statement 30 Flagging notifications 13 Consolidated statement of comprehensive income 30 2 FINANCIAL RESULTS 40 Key events during the financial year 13 Consolidated statement of financial position 31 2.1 Kesko's divisions 41 Events after the financial year 14 Consolidated statement of cash flows 32 2.2 Items affecting comparability 49 Resolutions of the 2017 Annual General Meeting and Consolidated statement of changes in equity 33 2.3 Other operating income 52 decisions of the Board's organisational meeting 15 2.4 Operating expenses 52 Information contained in the notes to the financial 1 ACCOUNTING POLICIES FOR THE 2.5 Foreign exchange differences recognised in statements 15 CONSOLIDATED FINANCIAL STATEMENTS 35 operating profit 53 Risk management 15 1.1 Basic information about the Company 35 2.6 Income tax 53 Significant risks and uncertainties 15 1.2 Basis of preparation 35 2.7 Earnings per share 54 Outlook 17 1.3 Critical accounting estimates and assumptions 35 2.8 Notes related to the statement of cash flows 55 Proposal for profit distribution 17 1 KESKO'S YEAR 2017 3 CAPITAL EMPLOYED 57 5.3 Related party transactions 95 NOTES TO THE BALANCE SHEET 109 3.1 Capital employed and working capital 58 5.4 Share-based compensation 97 Note 12.
    [Show full text]
  • Financial Statements KONE 2012 KONE 2012 Financial Statements | Information for Shareholders
    Nouveau Glamour design for global landmark buildings. Striking, bold interiors that deliver a wow effect every time. Cool colors and bold design elements are brought together in the Nouveau Glamour collection to create a stunning visual impact. Financial Statements KONE 2012 KONE 2012 Financial Statements | Information for shareholders Information for shareholders Annual General Meeting Payment of dividends Listing of KONE securities KONE Corporation’s Annual General The Board of Directors proposes to the KONE Corporation has two classes of Meeting will be held on February 25, Annual General Meeting that for the shares: the listed class B shares and the 2013 at 11:00 a.m. in the Finlandia Hall, financial year 2012 a dividend of EUR non-listed class A shares. The KONE class Mannerheimintie 13, Helsinki, Finland. 1,745 be paid for each class A share and B shares are listed on the NASDAQ OMX Shareholders wishing to attend the a dividend of EUR 1,75 be paid for each Helsinki and are registered at Euroclear meeting must be registered on the KONE class B share. All shares existing on the Finland Ltd. The share subscription period shareholder register at Euroclear Finland dividend record date, February 28, 2013 for the listed 2007 options ended on April Ltd. no later than on February 13, 2013, are entitled to the dividend. The dividend 30, 2012. and must register for attending the meet- will be paid on March 7, 2013. ing by mail (KONE Corporation, Share Register, P.O. Box 7, FI-02151 Espoo, Finland), by fax (+358 (0)204 75 4523), by telephone (+358 (0)20 770 6873), or over the internet (www.kone.com/corpo- rate/en/Investors/AGM) no later than by 3:00 p.m.
    [Show full text]
  • Creating the Technology to Connect the World
    Nokia Annual Report on Form 20-F 2019 on Form Nokia Annual Report Creating the technology to connect the world Nokia Annual Report on Form 20-F 2019 As filed with the Securities and Exchange Commission on March 5, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission file number 1-13202 Nokia Corporation (Exact name of Registrant as specified in its charter)) Republic of Finland (Jurisdiction of incorporation) Karaportti 3 FI-02610 Espoo, Finland (Address of principal executive offices) Esa Niinimäki, Deputy Chief Legal Officer, Corporate, Telephone: +358 (0) 10 44 88 000, Facsimile: +358 (0) 10 44 81 002, Karakaari 7, FI 02610 Espoo, Finland (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 (the “Exchange Act”): Title of each class Trading Symbol(s) Name of each exchange on which registered American Depositary Shares NOK New York Stock Exchange Shares New York Stock Exchange(1) (1) Not for trading, but only in connection with the registration of American Depositary Shares representing these shares, pursuant to the requirements of the Securities and Exchange Commission. Securities registered pursuant to Section 12(g) of the Exchange Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Exchange Act: None Indicate the number of outstanding shares of each of the registrant’s classes of capital or common stock as of the close of the period covered by the annual report.
    [Show full text]
  • Corporate Governance Statement 2020
    KONE’S CORPORATE GOVERNANCE STATEMENT 2020 CORPORATE GOVERNANCE STATEMENT KONE’S GENERAL GOVERNANCE PRINCIPLES The duties and responsibilities of KONE Corporation’s ▪ decisions on the company’s corporate various governing bodies are determined by Finnish law structure and KONE’s corporate governance principles. KONE ▪ decisions on major acquisitions and complies with the Finnish Corporate Governance Code investments 2020 published by the Securities Market Association, ▪ decisions on other matters falling under the with the exception of recommendations 16 Board’s responsibility by law (Independence of the company of the members of the audit committee), 17 (Independence of the company of The Board has created rules of procedure stipulating the members of the remuneration committee) and 18 the duties of the Board, its Chairman and its (Independence of the company of the members of the Committees. The Board of Directors holds six regular nomination committee). The entire Code is available on meetings a year and additional meetings as required. the Internet at www.cgfinland.fi. These exceptions are The Board of Directors reviews its own performance due to the company’s ownership structure. The and procedures once a year. company’s largest shareholder, Antti Herlin, controls 62 percent of the company’s voting rights and 22 percent Members of the Board of its shares. The significant entrepreneurial risk The Annual General Meeting elects five to ten members associated with ownership is considered to justify the and no more than three deputy members to the Board main shareholder serving as either Chairman or of Directors for one year at a time in accordance with Member of the Board of Directors and of its Committees KONE Corporation’s Articles of Association.
    [Show full text]
  • Stora Enso Vuosikertomus 2003
    Ajankohtaista TIETOJA OSINGONMAKSUSTA YHTEYSTIEDOT JA YHTIÖKOKOUKSESTA Kari Vainio Osingonmaksu Executive Vice President, konserniviestintä Hallitus esittää varsinaiselle yhtiökokoukselle, että Puh. +44 20 7016 3140 31.12.2003 päättyneeltä tilikaudelta maksetaan osinkoa Fax +44 20 7016 3208 0,45 euroa osakkeelta. Postiosoite: Stora Enso International Office, Ruotsin arvopaperikeskus (Värdepapperscentralen, 9 South Street, London W1K 2XA, UK VPC) huolehtii osingonmaksusta VPC:ssä rekisteröidyille [email protected] osakkeille ja osinko maksetaan Ruotsin kruunuina. Deutsche Bank Trust Company Americas huolehtii Keith B Russell osingonmaksusta sen hallinnoimien ADR-todistusten Senior Vice President, sijoittajasuhteet haltijoille ja osinko maksetaan Yhdysvaltain dollareina. Puh. +44 20 7016 3146 Lisätietoja kohdassa tietoja osakkeenomistajille sivulla 52. Fax +44 20 7016 3208 Postiosoite: Stora Enso International Office, Osingonjakopolitiikka 9 South Street, London W1K 2XA, UK Pitkän aikavälin tulokseen kytketty vakaa osinko [email protected] Puolet nettovoitosta suhdannekierron aikana Ulla Paajanen-Sainio Yhtiökokous Vice President, sijoittajasuhteet ja talousviestintä Stora Enso Oyj:n varsinainen yhtiökokous pidetään Puh. 02046 21242 torstaina 18.3.2004 klo 16.00 Finlandia-talossa, Fax 02046 21307 Mannerheimintie 13 e, Helsinki. Postiosoite: Stora Enso Oyj, PL 309, 00101 Helsinki [email protected] Kannen kuva Scott A. Deitz Vice President, sijoittajasuhteet, Pohjois-Amerikka Yksityiskohta sylinteristä Langerbruggen Puh. +1 715 422 1521 uuden paperikoneen kuivapäässä. Fax +1 715 422 3882 Keltainen vasemmalla ylhäällä on sylinterin pää, harmaa alhaalla oikealla Postiosoite: Stora Enso North America, P.O. Box 8050, on viira ja punainen keskellä on Wisconsin Rapids, WI 54495-8050, USA heijastus sylinterin pinnassa. [email protected] SISÄLLYSLUETTELO Konserni 2003 on käännetty englannin kielestä. 8 STRATEGIA 32 HALLITUS 21 Harkittu strategia edistää kannat- tavuutta ja kasvua.
    [Show full text]
  • Proposed Members for the Board of Directors 2013 Henrik Ehrnrooth
    1 (7) Proposed members for the Board of Directors 2013 Chairman Henrik Ehrnrooth born 1954, M.Sc. (Forest economics), B.Sc. (Econ.), Chairman of the Board of Directors of Pöyry Plc. Chairman of the Board of Directors 2009-. Chairman of the Personnel Committee 2009-. Chairman of the Working Committee 2011-. Member of the Board 2009-. Independent of the company, but not independent of the company’s significant shareholders. Henrik Ehrnrooth holds indirectly with his brothers Georg Ehrnrooth and Carl-Gustaf Ehrnrooth a controlling interest in Structor S.A., which is the largest shareholder of YIT Corporation. Primary working experience: Pöyry Plc: President and CEO 1986í1997, Economist 1979í1981. Positions of trust: Pöyry Plc: Chairman of the Board of Directors 2003-. Otava Ltd: Member of the Board of Directors 1988-. 2 (7) Vice Chairman Reino Hanhinen born 1943, M.Sc. (Eng.), D.Sc. (Tech.) h.c. Vice Chairman of the Board of Directors 2010-. Member of the Personnel Committee 2008-. Member of the Audit Committee 2006í2009 and 2012- Member of the Working Committee 2011-. Chairman of the Board 1989í2000 and 2006í2008. Member of the Board 1988-. Independent of YIT Corporation and its major shareholders. Primary working experience: YIT Corporation: Managing Director 2000-2005, President and CEO 1987-2005. Perusyhtymä Oy: Managing Director 1986-1987. YIT Oy Yleinen Insinööritoimisto: Managing Director 1985-1986. Oy PPTH-Norden Ab: Managing Director 1976-1985. YIT Oy Yleinen Insinööritoimisto: Division Manager 1974-1976, Work Supervisor 1968-1974 3 (7) Member Kim Gran born 1954, B.Sc. (Econ.), President and CEO of Nokian Tyres plc. Member of the Board of Directors 2008-.
    [Show full text]
  • BUSINESS ECOSYSTEMS ARE CREATING NEW OPPORTUNITIES for ASYMMETRIC PARTNERS Learning from Real-Life Ecosystems
    WORKING PAPER 25.11.2020 BUSINESS ECOSYSTEMS ARE CREATING NEW OPPORTUNITIES FOR ASYMMETRIC PARTNERS Learning from real-life ecosystems Pinja Lyytikäinen Project Coordinator M.Sc. (Economics and Business Administration) Sitra Competition is increasing and client demands are changing. These changes are driving companies to develop new business and operating models, strategies, and partnerships that enable them to adapt faster to continuously evolving market conditions. Business ecosystems are one solution to this problem, as they offer a new, more flexible way of organising with different kinds of partners, allowing companies to access more capabilities and enabling them to scale faster. Asymmetric partners in particular are therefore encouraged to form partnerships, as different sized companies have their own strengths, but also weaknesses that can be complemented by a partner’s capabilities. Asymmetric partners mean that partners that have differences with their resource portfolios and market positions collaborate. There are already tens if not hundreds of ecosystems involving Finnish companies. Many lessons can be learned from these existing ecosystems concerning their structures, purposes and the industries that have already started to utilise this means of joint value creation. This working paper provides valuable information on these topics, as it collates key findings from a study on the collaboration between large companies and small and medium sized enterprises (SMEs) in business ecosystems formed around data sharing between partners. The research findings show that it is beneficial for asymmetric partners to collaborate and share data, as it allows them strategic opportunities and operational benefits. 2 Sitra working paper © Sitra 2020 Business ecosystems are creating new opportunities for asymmetric partners This working paper is an outcome from a master’s thesis prepared by Pinja Lyytikäinen (Sitra) and co- operation with commentators Reko Lehti (Taival Advisory Oy), Marko Turpeinen (1001 Lakes Oy) and Jyrki Suokas (Sitra).
    [Show full text]
  • Kesko's Year 2007
    Kesko’s year year Kesko’s www.kesko.fi 2007 Business ID 0109862-8 Business Kesko’s year 2007 Design and layout: Incognito Photos: Kirsi Salovaara Milla Photos of Board Members: Rami Salle liked Kodin Ykkönen Printed by: Libris Oy because of Plussa offers sensible prices moving to study interior decoration trends Year 2007 Divisions The Group Financial statements Further information 1 Contents Financial Further Year 2007 Divisions The Group statements information 2 Kesko in brief 10 Kesko Food 38 Vision, values and goals 70 Contents 143 Shares and share- 4 Year 2007 in brief 16 Rautakesko 40 Strategic emphases 71 Report by the Board of holders 6 Review by the President 21 VV-Auto 44 Individual customer Directors 150 Information for and CEO 24 Anttila approach -K-Plussa 81 Consolidated financial shareholders 8 Operating environment 27 Kesko Agro 46 Real estate operations statements (IFRS) 151 Information about 31 Other operating 48 Kesko is a good work- 85 Notes to the consolidat- Kesko for investors activities place ed financial statements 152 Contact information Konekesko 51 Competitive advantage 134 Parent’s financial 154 Glossary Intersport Finland from chain operations statements (FAS) Indoor Group and K-retailer Musta Pörssi entrepreneurship Kenkäkesko 52 Corporate responsibility Tähti Optikko in Kesko Kauko-Telko 57 Corporate Governance Statement 66 Board of Directors 68 Corporate Management Board 2 Kesko's year 2007 Kesko in brief Divisions Kesko Agro | Page 27 Kesko Agro operates the K-maatalous and Kesko Food | Page 10 Kesko Agro chains. The company purchases Kesko Food’s retail chains in Finland are and sells animal feed, chemicals and machin- K-citymarket, K-supermarket, K-market and ery to agricultural entrepreneurs and trades K-extra.
    [Show full text]