Research - HHL Leipzig Graduate School of Management

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HHL – LEIPZIG GRADUATE SCHOOL OF MANAGEMENT 

Internationally well positioned 

Now in its 111 th year, HHL is one of the top 

business schools in Germany and enjoys an 

excellent reputation around the world. HHL’s 

internationality manifests itself in its accreditation 

by AACSB, its excellent positions in 

international rankings, its membership in international 

associations of business schools, 

its integration into a global network of over 

100 partner universities cooperating in student 

exchanges and its involvement in international 

research projects. 

In 2004, HHL was proud to be the fi rst private 

business school in Germany to have its 

commitment to quality and continual improvement 

recognized by AACSB International, 

the top accrediting agency for business 

schools worldwide. To date only three 

business schools in Germany have achieved 

this accreditation. HHL has repeatedly 

featured among the best schools in the list 

compiled by South American business 

magazine AméricaEconomía (see p. 3), while 

HHL’s innovative MBA program resulted in its 

inclusion in the German Academic Exchange 

Service’s (DAAD) “Top 10 International 

Master’s Degree Courses made in Germany 

(2008).” HHL is also an active member of 

high-profi le associations of international business 

schools, including AACSB, CEEMAN, 

CLADEA, EAIE, efmd and NAFSA. (see p. 4) 

HHL actively encourages intercultural learning 

among its students and, to this end, has 

partnership agreements with over 100 business 

schools around the world, from Austra- 

Contents 

Internationally well positioned (p. 1) 

Support HHL (pp. 6-7) 

Outstanding year for HHL Executive (p. 18) 

HHL’s dynamic entrepreneurs (pp. 38-39) 

Career Service – your path to success 

(pp. 40-41) 

WINTER 08/09 

HHL students come from all over the world 

lia to Uruguay. This is a high number in comparison 

with similar institutions and allows 

HHL to send a maximum of two students per 

class to any partner university at any one time, 

increasing the intensity of their experience in 

the different culture (see pp. 10-13). 

The process of selecting partner universities 

is undertaken very carefully as Frank Hoffmann, 

Director of International Relations, 

explains: “When we’re looking at colleges 

and universities as potential partners, we 

consider things such as accreditation, reputation 

in the business community, the attractiveness 

of the location and, of course, the 

safety of our students when they’re there.” 

Each year, 80 HHL students go abroad to 

study at one of the partner institutions and, in

2 

return, HHL hosts the same number of international 

students on its campus in Leipzig. 

Over the last few years, HHL has received a 

total of 150,000 EUR in grants for interna- 

tional students from the DAAD, and this 

figure has been matched by corporate partners 

in the region. 

The DAAD has also provided funding for foreign 

doctoral students at HHL. As a natural 

consequence of HHL’s international orientation, 

English – the language of international 

business – is the language of instruction at 

HHL and the lingua franca on campus. 

“The MSc at HHL was a great 

opportunity for me to further 

enhance my knowledge of 

economics and business, in a 

way that a public university could 

never provide.” 

Minu Chawla (26/India) 

MSc alumna (MSc1) 

Summer Associate/L.E.K. Consulting, 

Munich, Germany 

Not only are around 70 % of students in the 

full-time MBA program from outside Germany, 

international students are enrolling increasingly 

in the Master of Science program. Like 

the student body, HHL’s teaching faculty is 

also highly international, with guest lecturers 

from the USA, Canada, Norway, Sweden, 

Great Britain and Israel. 

Research at HHL crosses national bound- 

aries, too. The Chair of Marketing Management 

recently led a project with partners from 

the University of Antwerp Management School 

and Tongji University, Shanghai, within the 

European Union’s Asia Link program and 

developed a course syllabus for an executive 

program in trade show management (see p. 

Highlights 

“What do I really enjoy about 

my current job at E.ON Gaz 

Romania? Just as at HHL, 

there is a fantastic spirit of 

entrepreneurship here.” 

Leif Christian Cropp (33/Germany) 

MBA alumnus (M4) 

Director Gas Supply Division/E.ON Gaz Romania 

27). The IHK Chair of Applied Economic Theory 

is a partner in the INVENT project also 

funded by the EU’s Asia Link program with 

eight partners from Europe and Asia (see 

p. 22). 

“After closely comparing HHL and 

the other international business 

schools that I had on my short list, 

I finally chose HHL. 

I am happy that I made the right 

decision by coming to Leipzig. 

I find the experience truly unique 

and exquisite.” 

Asana Mohammadi (27/Iran) 

MBA student (M9) 

HHL NEWS – WINTER 2008/2009 

INVENT focuses on developing an Integrated 

Waste Management plan to deal with the environmental 

challenges facing the rapidly developing 

countries in South-East Asia, such 

as Vietnam, Thailand, Cambodia and Laos. 

Various student initiatives contribute to the 

cosmopolitan atmosphere on HHL’s campus; 

two of these are The Negotiation Challenge 

(TNC) and the European Ivy League (EIL). 

Instigated in 2007 by students at HHL in collaboration 

with Harvard Law School, in 2008 

TNC tested communication skills under the 

motto “People Move the World” by setting 

ten international teams of students negotiation 

tasks relating to the automobile and transport 

industries. 

“HHL helped me shape my 

international career path thanks to 

the classes in English, the compulsory 

semester abroad, the foreign faculty 

and guest speakers.” 

Arne Otto (34/Germany) 

Diploma alumnus (K2) 

Regional Business Unit Head/Osram Asia 

Pacific Hong Kong 

EIL is the annual highlight for soccer-loving 

business students across Europe. 

An annual tournament organized by students 

at HHL since 1997 in the spirit of friendly 

competition, the EIL attracts teams from 

schools all over Europe to Leipzig to enjoy 

the sporting challenge, networking and three 

days of fun. The 2009 event is slated for May, 

when the motto will be “Face the Challenge.” 

Volker Stößel

Highlights 

Tomorrow’s managers celebrate graduation 

HHL students celebrate their graduation 

Another year full of challenges has passed, and 

on July 26, 2008, 107 students from 19 countries 

celebrated their graduation with more than 

400 guests at the Congress Center Leipzig. 

Among the graduates this year were the first 

Master of Science class (MSc1) and the first representatives 

from the revised and newly structured 

doctoral program together with K21, M8, 

and P3. Special guest was Dr. Hans-Dietrich 

Winkhaus, former CEO of Henkel AG & Co. 

KGaA and former President of Institut der deutschen 

Wirtschaft Köln, who delivered the graduation 

speech. He expressed his firm conviction 

that the excellent education they received at 

Top rankings 

Recent rankings place HHL, with its highly international, 

service-oriented and customer-focused 

concept, among the top players in the 

league of German business schools. 

HHL’s full-time MBA program “International 

Management” has repeatedly been commended 

in Latin America. In the region’s most 

prestigious ranking, the business magazine 

AméricaEconomía puts HHL in 36 th position – 

a leap of 18 places in just two years. América- 

Economía’s assessment criteria include average 

GMAT score, percentage of foreign 

students, and graduates’ starting salaries. 

(AméricaEconomía, August 2008) 

HHL would open up the best professional opportunities 

for the HHL graduates, but he also 

admonished them always to be aware of their 

exemplary role both within and outside of their 

companies in their future managerial positions. 

The occasion also saw the announcement of 

the “Best of the Best” awards, as has become 

traditional. The title of Schmalenbach Scholar 

in recognition of academic achievement to- 

gether with outstanding extracurricular commitment 

was awarded to Cora Theißen (Msc1), 

Robin Buschmann (K21), Thomas H. Klein 

(P3), and Philip Meißner (M8). The DAAD award 

The results of a survey by Germany’s largest 

online student network, StudiVZ, show students’ 

satisfaction with their university and their 

courses. In the overall evaluation of business 

administration programs, HHL comes out as 

one of the top business schools in Germany. 

The assessment consists of the average values 

in the categories “equipment”, “study condi- 

tions”, “practical orientation” and “university 

city” with their respective sub-categories. 

(StudiVZ University Ranking 2008) 


for Best International Student went to Sarah 

Call (M8) from Idaho/USA. Gunther Greven 

(K19), Hannes Wiese (K19), Christian Keiber 

(K20), Katharina Rosenbohm (M7), and Thomas 

Pönisch (P2) were honored as the top 

graduates in their respective classes; Gunther 

Greven, now a doctoral student at HHL, also 

received a Beta Gamma Sigma scholarship. A 

new award, the Martens & Prahl Research 

Award for outstanding research associates at 

HHL, was presented for the first time and went 

to Dr. Marc Steffen Rapp for 2006 and to Dr. 

Nick Lin-Hi for 2007. 

Last but by no means least, the graduates also 

made their own awards, honoring the HHL faculty 

and staff voted best in their respective categories 

by HHL students at the end of the 

academic year. The recipients were Professor 

Dr. Torsten Wulf (best professor), Professor Dr. 

Harald Hungenberg (best guest lecturer), Dr. 

Andreas Wilms (best research associate), and 

Kati Dorsch (best administrative staff member). 

After an ecumenical service at the world-famous 

Thomaskirche and the ceremony in the 

Congress Center, the graduation ball in the Felsenkeller 

provided an appropriately relaxed end 

to the special day. 

Gisela David 

Trendence published the survey Deutsches 

Absolventenbarometer 2008 in which students 

were asked about the degree of satisfaction 

with their university. HHL is ranked 

as the leading business school in Germany 

and stands out regarding quality of library 

and IT infrastructure, quality of placement 

and student services. The survey, involving 

9,250 students, was conducted at 77 business 

faculties and universities. 

(Trendence Institut, 2008) 

3

4 

Highlights 

HHL at conferences of international networks 

CEEMAN 

HHL’s Dean, Chancellor and 

Director of International Relations 

were among the participants from 

27 countries who gathered in 

Albania’s capital to discuss what 

kind of management education is 

needed to support the emerging 

markets in their efforts to achieve 

and sustain competitive advantage 

in the globalizing world economy. 

In other words, to what 

Professor Danica Purg, PhD (CEEMAN President) at the CEEMAN extent management education is 

Annual Conference 2008 

and can be universal, and to what 

extent, and in which way, it could and should 

be adapted to the specific features of emerging 

markets. 

HHL has been a member of CEEMAN, the 

Central and East European Management Development 

Association since 2006. The 16 th 

CEEMAN Annual Conference, held September 

25-27, 2008, in Tirana, Albania, focused 

on “Management Education for the Realities 

of Emerging Markets”, and yet again boasted 

high-profile international speakers, including 

the renowned social philosopher Charles 

Handy, management guru Ichak Kalderon 

Adizes, former Vice-Chancellor of Austria and 

Special Co-ordinator of the Stability Pact for 

South Eastern Europe, Erhard Busek, and the 

Speaker of the Albanian Parliament, Jozefina 

Topalli. 

CLADEA 

HHL has been a member of CLADEA (Consejo 

Latinoamericano de Escuelas de Administración) 

since 2003, and is the only German 

member at university level. The 2008 annual 

conference was held in Puebla/Mexico October 

23-25, with more than 250 participants 

from all over Latin America. Prior to this conference, 

the annual double degree meeting 

with all partners of the Florida International 

University took place at ITAM/Mexico City. 

The conference explored in detail how 

business schools deal with the realities of 

emerging markets in areas such as competitiveness 

and innovation, entrepreneurship 

development, corporate social responsibility, 

and strategic partnerships and alliances between 

business schools as well as with the 

corporate world. 

The conference included an information session 

on “CEEMAN International Quality Accreditation 

(IQA)”, which is comparable with 

other international accreditations, like EQUIS, 

but incorporates a specific review of the impact 

of business schools on their respective 

regional economy. 

Frank Hoffmann seized the opportunity to pay 

a campus visit to both of HHL’s partners in 

Mexico, ITAM and ITESM, and to discuss future 

plans and developments with these universities. 

Of course he also caught up with the 

HHL students who were pursuing their studies 

abroad in Mexico City (at the Oktoberfest 

México in the Club Alemán, Ciudad de México). 

The annual meeting is the most important, 

but not the only event offered by CLADEA: 

in May, Sophie Schnick, Assistant to the Director 

of International Relations, attended a 

CLADEA conference in Barcelona on internationalization. 


AACSB 

The hot issues of globalization,entrepreneurship, 

sustainability and 

corporate responsibility 

were among the many 

topics headlining the 

world’s largest gathering 

of business educators April 13-15, 2008, in 

Honolulu. The occasion was the International 

Conference and Annual Meeting of AACSB International 

(The Association to Advance Collegiate 

Schools of Business). In 2004 HHL joined 

the ranks of the approximately 550 business 

schools from 70 countries (only three in Germany) 

which have received the internationally 

renowned accreditation by AACSB. Around 

1,200 business school deans, administrators, 

professors and corporate business leaders attended 

the three-day conference at the Hawai’i 

Convention Center. 

Honolulu: venue of the Annual Meeting of AACSB 

Frank Hoffmann represented HHL and took 

full advantage of the meeting to discuss HHL’s 

strategies for internationalization with colleagues 

from all over the world. The conference 

also reviewed AACSB’s participation in the United 

Nations Global Compact as a co-convener 

of the Principles for Responsible Management 

Education (PRME), and the recommendations 

of the final report of the AACSB Impact of Research 

Task Force, which were published in 

February 2008. Other sessions covered global 

and regional perspectives on entrepreneurship 

and the future of management education, 

accreditation, faculty recruitment and development, 

and leadership strategies. 

Frank Hoffmann

Highlights 5 

Welcome Event 2008 – Porsche and HHL focus on 

CO 2 emissions and sustainability 

In the fall term last year, 102 students from 25 

countries commenced their studies at HHL. 

September 8-9, 2008, all the new students in 

the different programs had the chance to 

familiarize themselves with HHL and with 

each other during the Welcome Event. 

At the same time, they learned about the 

relevance of sustainability and responsibility 

for decision makers in the world of business. 

On the first day of the two-day Welcome 

Event, the enrollment ceremony took center 

stage with special guest speaker Mr. Dirk 

Albersmeier, Managing Director M&A, JP 

Morgan, and the new students were introduced 

to HHL. 

The second day was supported by Porsche AG, 

the leading German sports car manufacturer, 

and was organized by Professor Dr. Andreas 

Suchanek and Hans-Christian Erdmann of the 

Dow Chair of Sustainability and Global Ethics at 

HHL. Porsche demonstrated not only the efforts 

it is making to reduce emissions with its 

new models, but also how the EU Commission’s 

proposed regulations could endanger the success 

of the whole company. 

Alumni Homecoming 2008 

In a new tradition, this year’s Homecoming 

started on Friday, October 17, early in the 

afternoon, kicking off with a lively discussion 

with Manfred Gerdes (former Managing Di- 

From left to right: Manfred Gerdes, Friedhelm Wachs 

Students of MSc3 attending the Welcome Event 

In the morning session, Mr. Herbert Ampferer, 

previously Motorsport Director and now 

Environmental Officer at Porsche, gave an 

introduction to carbon dioxide emissions in 

general and sensitized students for the topic. 

The afternoon’s activities took place at the 

facilities of Porsche Leipzig GmbH. The students 

were asked to work in groups on Porsche-related 

topics and on how Porsche 

could strategically deal with the requirements 

rector Sony Deutschland GmbH). Professor 

Dr. Iris Hausladen, Professor Dr. Manfred 

Kirchgeorg and Professor Dr. Torsten Wulf also 

gave lectures on various business topics. 

Friday evening was rounded off 

with individual class parties: K2, 

which enjoyed an almost 100 % 

turnout, marked its 10 th anniversary 

during the weekend and, 

together with the class reunion of 

P2, celebrated until the early 

hours of Saturday morning. 

Saturday started with a guided 

tour through the Leipzig opera 

house. Following last year’s pattern, 

the Annual General Meeting 

took place on Saturday afternoon 

in the Villa Rosental. The new 


for severe cuts in CO 2 emissions. After the 

hard work came the pleasure, and the new 

students were able to enjoy rides around the 

race track in some of Porsche’s finest products. 

We would like to thank the entire team 

from Porsche, in particular Herbert Ampferer, 

Siegfried Bülow and Dr. Gerhard Schäfer for 

their generous support. 

Hans-Christian Erdmann 

board was elected, with Friedhelm Wachs 

(P2) as President and Dr. Burkhart Eymer 

(K3) as Vice-President. Monika Swierczek 

(M1) was elected Treasurer, while Fabian 

Kratzberg (K10), Ronald Wulle (M6), Florian 

Jäger (K13) and Marco Sperling (doctoral 

candidate) are the Honorary Assessors. 

HHL’s Executive Management, represented by 

Dr. Judith Marquardt, as well as HHL department 

heads provided an update on recent 

developments and plans for the future. 

We are now looking forward to the next 

Homecoming, which will incorporate the 10th 

anniversaries of K3 and K4. Contacts for the 

class reunions are Dr. Burkhart Eymer (K3) 

and Magnus Sprenger (K4). 

Conny Stollmann

6 

Support HHL 

“HHL 2020” – our path to success 

Support HHL’s first-class 

education 

HHL already receives more enquiries from 

recruiting departments of leading companies 

than it has graduates. This can be seen 

as evidence of the demand for excellence 

and as a call to offer a first-class education 

to a great number of business leaders. For 

HHL as one of the leading business schools 

in Germany, this means preparing more 

young people for tomorrow‘s management 

challenges, but under the same excellent 

conditions as today. We aim to double 

student numbers and at the same time 

count among the top 10 European Business 

Schools by 2020. 

New platforms 

We work together with an exclusive circle of 

supporters, donors and sponsors who share 

our desire to assume responsibility for the future. 

We are interested in making contact 

with patrons, foundations and companies 

who are as dedicated to excellence as we 

are and who would like to express their social 

commitment by supporting HHL. Join us in 

our endeavor and help us to achieve our vision 

“HHL 2020”. From 2009 on, we will have 

various platforms tailored to the type and intensity 

of your involvement. Through these 

new platforms you can show your individual 

contributions to HHL’s excellence and network 

with other supporters. 

To receive more information about our principles 

and goals, please ask for our brochure 

(download: www.hhl.de/support). It summarizes 

the ways in which you can support HHL 

and gives you an overview of our history, our 

faculty and our future. 

Contact: Ulrike Buchheim 

E-mail: ulrike.buchheim@hhl.de 

Tel.: +49 341 9851-618 


Dean’s Circle – Gold Sponsors 

The Dean’s Circle is an exclusive group of 

individuals or companies who support HHL 

with an annual sum of 100,000 EUR and 

upwards. Members of the Dean’s Circle play a 

central role in helping us realize major growth 

projects such as the creation of new chairs 

or competence centers, paving the way for 

the education of more business leaders. If 

you sponsor a chair or a center, you will have 

direct access to our expertise, giving you an 

excellent opportunity to advance your own 

business goals. If you wish to provide full 

funding for a chair or center we will be proud 

to name these after you. We are happy to 

involve members of the Dean’s Circle in our 

plans for moving HHL forward. 

Supporters – Silver Sponsors 

An annual commitment of 25,000 EUR or 

more brings you membership of the circle 

of Supporters of HHL. Your contribution will 

help maintain HHL’s record of excellence in 

teaching and research by facilitating new 

research positions and by providing stateof-the-art 

equipment, such as our MediaLab 

or our new Campus Software System. This 

in turn allows us to provide a first-class 

innovative education. Or you could sponsor a 

particularly motivated and talented student by 

providing a scholarship for him or her. HHL’s 

students and professors are very grateful for 

this kind of support. 

Friends – Bronze Sponsors 

The Circle of Friends of HHL comprises all 

of our supporters who contribute up to 

25,000 EUR per annum, whether they are 

companies, alumni or parents of students. 

Their support helps us implement shortterm 

and medium-term projects, including 

student initiatives such as The Negotiation 

Challenge, the European Ivy League, and the 

graduation celebrations.

Support HHL 

Shape the future by promoting excellence now – 

endowments for a sustainable commitment 

Sustainability is central to HHL’s management 

education. However, its importance is not 

restricted to research and teaching; sustainability 

is also key to HHL’s long-term 

financial stability. HHL’s Kramer Foundation 

was founded with the sole aim of supporting 

HHL. We plan to increase the foundation’s 

capital stock in the next few years. 

To help us achieve this goal, we are looking 

Interview 

Professor Dr. Gerhardt Wolff (Alternate Managing Director), VNG – Verbundnetz Gas Aktiengesellschaft 

HHL news: The VNG – Verbundnetz Gas 

Aktiengesellschaft is strongly involved 

in the area of education. What are the 

reasons for this? 

Professor Wolff: A company at the front 

of the line needs employees whose knowledge 

is up to date. This applies to our current, 

as well as our future employees. 

That’s why we offer our employees ad- 

vanced training and continuing education. 

At the same time we support external 

educational institutions – for example HHL 

here in Leipzig – so that our future employees 

also receive an excellent education. 

HHL news: How would you describe the 

partnership between your company and 

HHL? 

Professor Wolff: Our partnership is multifaceted. 

We have been working together in 

the area of managerial training for many 

years. As a result, members of our man- 

Professor Dr. Georg Milbradt – former Prime Minister of Saxony – 

becomes new chairman of HHL’s Kramer Foundation 

“I have been watching the growth of the Handelshochschule Leipzig since its re-founding in 1992 

and as the new chairman of HHL’s Kramer Foundation, my personal involvement is based on one 

elementary principle: an economy can only be as strong as the next generation of leaders that it 

produces. We have to assure the quality and sustainability of the education at HHL, and the 

Kramer Foundation offers the best prospects for achieving these goals. It is up to us to support 

the future of excellent management education in Germany.” 

for donors and sponsors who wish to contribute 

to educating tomorrow’s effective 

and responsible business leaders. We 

would be delighted to receive endowment 

contributions. For larger endowment projects, 

we offer the option of creating a 

foundation under the auspices of HHL’s 

Kramer Foundation which would then bear 

your name. Join us in shaping tomorrow’s 

agement can attend lectures in HHL’s parttime 

MBA program. At the moment we are 

looking for ways to connect what we offer in 

continuing education with the courses that 

HHL offers. One approach is the combination 

of energy and managerial issues with a 

high level of relevant practical experience. 

Apart from that we continue to cooperate in 

regard to projects. Here we would like to especially 

point out HHL’s support in relation to 

our project “Value-oriented Business Management”. 

We also want to contribute to the realization 

of the vision “HHL 2020” to generate more 

funds, more students, more researchers and 

an even wider array of offers at HHL – not to 

mention the growth in reputation. One of 

HHL’s real strengths is its generalist education, 

coupled with its highly practical relevance. 

Corporate partnerships thus offer a win-win 

situation. 


society today. There are many ways of 

helping us. To learn more about our plans, 

please request the new brochure from 

HHL’s Kramer Foundation or get in touch 

with us directly. 

Contact: ulrike.buchheim@kramerstiftung.de 

HHL news: From your point of view: what 

does a manager need today? 

Professor Wolff: Assuming that we are 

talking both about managers and senior 

executives, my answer is, in brief, this: 

people in these positions today – as in 

the past – must be able to achieve certain 

results. This usually happens in a team, so 

these people must be able to lead and 

convince others. The ability to convince 

others, on a long-term basis, today – as in 

the past – not only requires professional 

competence but also appropriate social 

competence. Social competence can, in 

fact, be trained, although many universities 

neglect this subject. Having an international 

orientation is also essential in this day 

and age. Altogether HHL offers an excellent 

approach. 

7

8 Support HHL 

Alumni chapter meeting in Hamburg 

The alumni chapter meeting in Hamburg at 

the beginning of September was the first to 

host HHL’s Executive Management. Professor 

Dr. Oliver Klante (K2), Thorsten Becker 

(K2) and Dr. Burkhart Eymer (K3) invited 

Professor Dr. Hans Wiesmeth and Dr. Judith 

Marquardt to an open discussion with other 

alumni, held in the brand-new offices of 

Management Angels, Thorsten Becker’s 

start-up located in the docks area of Hamburg. 

The Executive Management was joined 

by Conny Stollmann, HHL’s Alumni Officer, 

and Friedhelm Wachs (P2), President of 

the Alumni Association. 

Supporters of HHL 2008 

CHAIR ENDOWMENTS/ 

ENDOWMENT CONTRIBUTIONS 

(100,000 EUR and more) 

Chamber of Commerce and Industry Leipzig 

Deutsche Bank AG, Frankfurt/Main 

Dow Olefinverbund GmbH, Schkopau 

Heinz Nixdorf Foundation, Essen 

Leipzig Foundation for Innovation and 

Technology Transfer, Leipzig 

Stadt- und Kreissparkasse Leipzig 

Stifterverband für die 

Deutsche Wissenschaft, Essen 

WestLB AG, Düsseldorf 

PREMIER PARTNERS 


Association of Friends of HHL, Leipzig 

BASF SE, Ludwigshafen 

Bertelsmann AG, Gütersloh 

Gudrun Demling, Bavaria 

Dr. Ing. h.c. F. Porsche AG, Stuttgart 

JPMorgan Chase Bank, Frankfurt/Main 

Karl Kolle, KARL-KOLLE-Foundation, Dortmund 

KWL – Kommunale Wasserwerke 

Leipzig GmbH, Leipzig 

PricewaterhouseCoopers AG, Frankfurt/Main 

Roland Berger Strategy 

Consultants GmbH, Munich 

Sachsen Bank, Leipzig 

The Boston Consulting Group GmbH, Munich 

Uniplan International GmbH & Co. KG, Kerpen 

Veolia Wasser GmbH, Leipzig 

VNG – Verbundnetz Gas 

Aktiengesellschaft, Leipzig 

PARTNERS 


Arthur D. Little, Wiesbaden 

Bain & Company Germany Inc., Munich 

BBDO Germany GmbH, Düsseldorf 

First, Professor Wiesmeth detailed HHL’s vision 

of becoming one of the ten leading European 

business schools by 2020, explaining 

the strategic milestones along the road 

to achieving this vision. Dr. Marquardt then 

talked about the expansion of HHL’s facilities, 

and discussed the exciting developments 

in the area of executive education 

through HHL Executive. The meeting concluded 

with general agreement to set up 

regular meetings between the alumni chapters 

and the Executive Management. 

Conny Stollmann 

We would like to express our deep appreciation to all our financial partners. 

Blue Corporate Finance AG, Leipzig 

Booz & Company, Munich 

BVK Group, Berlin 

Credit Suisse AG, Frankfurt/Main 

Deutsche Bahn AG, Berlin 

Duff & Phelps GmbH, Munich 

envia Mitteldeutsche Energie AG, Chemnitz 

Ernst & Young AG, Frankfurt/Main 

Forcont GmbH, Leipzig 

Gabler Verlag/GWV 

Fachverlage GmbH, Wiesbaden 

Helmholtz Centre for 

Environmental Research – UFZ, Leipzig 

HHL Alumni Association Leipzig 

KWL Stadtbad Foundation, Leipzig 

Labor Dr. Reising-Ackermann 

& Partner, Leipzig 

Lazard Asset Management 

(Germany) GmbH, Frankfurt/Main 

Leipziger Messe GmbH, Leipzig 

Messe Düsseldorf GmbH, Düsseldorf 

MLP Finanzdienstleistungen AG, Heidelberg 

OC&C Strategy Consultants GmbH, Düsseldorf 

Ostdeutscher Sparkassenverband, Berlin 

Pasemann Cultur- & Werbecompany, Leipzig 

PETERSEN GRUENDEL, 

Rechtsanwälte Steuerberater, Leipzig 

Ute & Winfried Pinninghoff, Lüdinghausen 

Q-Cells AG, Thalheim 

Robert Bosch GmbH, Stuttgart 

Rothschild GmbH, Frankfurt/Main 

RWE AG, Essen 

Siemens AG, Leipzig/Berlin 

Siemens Management Consulting, Munich 

Smava GmbH, Berlin 

Translational Centre for 

Regenerative Medicine (TRM), Leipzig 

Wirtschaftsinitiative für 

Mitteldeutschland GmbH, Leipzig 


Farewell to Conny Stollmann 

Conny Stollmann 

served as HHL 

Alumni Officer 

from September to 

December 2008. 

In that brief time, 

she substantially 

developed HHL’s alumni relations. With her 

input, we now have a package of HHL benefits 

exclusively for members of the Alumni Association. 

Due to private reasons, Mrs. Stollmann 

has moved to Shanghai. We will miss her! 

SUPPORTERS 

ACOD – Automotive Cluster 

East Germany, Ludwigsfelde 

Akademische 

Marketinggesellschaft e.V., Leipzig 

BHF-BANK Aktiengesellschaft, Frankfurt/Main 

commlab, Leipzig 

CosiFan Computersysteme GmbH, Leipzig 

Deutsche Telekom, Bonn 

Deutsche Post AG, Bonn 

Dresdner Bank AG, Leipzig 

DOUGLAS HOLDING AG, Hagen 

E. Breuninger GmbH & Co., Stuttgart 

Prof. Dr. Dr. h.c. Karl-Heinz Forster, Frankfurt/Main 

GRIP Personal Consulting GmbH, Frankfurt/Main 

Hoesch & Partner GmbH, Frankfurt/Main 

HL komm Telekommunikations GmbH, Leipzig 

KATHI Rainer Thiele GmbH, Halle (Saale) 

KIK Computerausbildung und 

Vertrieb GmbH, Leipzig 

KIROW Leipzig AG, Leipzig 

KPMG AG, Berlin 

Kugel- und Rollenlagerwerk Leipzig GmbH, Leipzig 

Leonardo & Co. GmbH & Co. KG, Frankfurt/Main 

Prof. Dr. Rainer Ludewig, Kassel 

MARTENS & PRAHL 

Versicherungskontor KG, Leipzig 

McKinsey & Company Inc., Frankfurt/Main 

Mercedes-Benz Niederlassung Leipzig 

Dr. Marc Steffen Rapp, Munich 

SMP AG, Düsseldorf 

Stadtwerke Leipzig GmbH, Leipzig 

Irena Tomys, Mirkow, Poland 

Dr. jur. Dr. h.c. Ludwig Trippen, Münster 

Volkswagen Consulting, Wolfsburg 

Weidinger | Richtscheid Rechtsanwälte, Leipzig 

WSB Werbeagentur GmbH, Leipzig 

(December 2008)

RTL Group | Random House | Gruner + Jahr | Arvato | Direct Group 

Executive Education 

9 

Willkommen bei Bertelsmann, 

dem Unternehmen der Unternehmer. 

www.createyourowncareer.de 

HHL NEWS – WINTER 2008/2009

10 

Partnership 

News from the International Office 

During fall 2008 a total of 51 HHL students 

have spent a term abroad at one of HHL’s 

partner universities (Asia 11, Australia and 

New Zealand 3, Europe 18, North America 7, 

Latin America 12). At the same time, HHL 

welcomed 39 exchange students from all 

over the world (Asia 15, Europe 16, North 

America 2, and Latin America 6). In addition, 

HHL’s part-time MBA students spent a week 

in Shanghai, with outstanding support from 

HHL’s partner Tongji University (see p. 36). 

A study period abroad is extremely important 

for HHL students. It provides valuable 

insights into foreign cultures. Incoming exchange 

students help to internationalize 

HHL’s regu-lar programs. HHL makes every 

effort to guarantee these places at foreign 

Exchange students report 

Iceland, Reykjavik University 

It has been a valuable experience to come 

to HHL as exchange students and take 

part in interesting courses, be taught by 

first-class professors and meet wonderful 

fellow students who will remain in our memories 

for a long time. 

We were so fortunate to study in a very 

international atmosphere and get to know 

partner universities and to attract excellent 

exchange students. This involves monitoring 

exchange flows and securing equal conditions 

in student information. During 2008 HHL 

negotiated new agreements with the following 

universities: IEDC Bled (Slovakia), ALBA 

(Greece), U Louisville (USA), Zagreb School 

of Economics (Kroatia), Audencia Nantes 

(France), ISM Vilnius (Lithuania), Victoria U 

Wellington (New Zealand), Drexel U (USA). 

Intensive communication is necessary to 

ensure an ongoing flow of information. HHL 

visited some of its partner universities and 

had the chance to welcome some of its partners 

in 2008, but most of the meetings took 

place at international conferences. For this 

reason HHL’s Director of International Relati- 

students from Germany, China, Japan, 

Sweden, and many other countries. It is 

also great to see how the professors interacted 

in an international way and to experience 

their excellent teaching style. 

Leipzig is a beautiful city with many opportunities 

in terms both of cultural life and 

other activities. It represents the typical 

Eastern side of Germany, which we were 

delighted to get to know. We met friendly 

locals who were always willing to assist us. 


ons attended numerous events, including the 

NAFSA meeting in Washington, the EAIE 

meeting in Antwerp, the qs-Conference in 

Seoul, just to mention a few at university level. 

The following annual conferences were also 

relevant for HHL’s International Department 

in 2008 as opportunities to network with international 

colleagues: AACSB in Honolulu/ 

USA, CLADEA in Puebla/Mexico (Latin America), 

CEEMAN in Tirana/Albania (Central 

and Eastern Europe), efmd in Oslo/Norway 

(Europe), and in addition the International 

Dean’s Confer-ence in Shanghai/China and 

the Global Conference of AACSB and efmd 

in Barcelona/Spain. 

Frank Hoffmann 

The surroundings of Leipzig are also really 

worth seeing with beautiful lakes and forests. 

All in all, we certainly recommend 

Leipzig as a city to visit and HHL as a 

school to study at. And, of course, we 

would like to see students from HHL come 

to Iceland for an exchange visit. A warm 

Icelandic welcome awaits! 

Katrin Jonsdottir, Audur Lind Adalsteinsdottir, 

Omar Asbjörn Oskarsson

Belgium, Brussels 

Solvay Business School 

When I first arrived in Leipzig by train from 

Brussels, I was amazed to discover that the 

train station was also an incredible mall where 

you can go shopping, eat or just wander 

around, depending on your mood; it was an 

interesting concept that I was not accus- 

tomed to. 

Talking about the city itself, I was pleased to 

find that more or less everything was concentrated 

in the center. That might not seem 

surprising, but still, everything seemed very 

close to me, and I had no problems finding a 

decent place to live, nor did the other students 

I talked to. 

At the beginning at HHL, I had some difficulty 

figuring out which courses I was entitled to 

take, and finding a way to avoid overlaps be- 

tween them. But when I had sorted it out, the 

time for the group work had come, and the 

real HHL life started, and it was as intense 

and interesting as promised. 

However, it didn’t prevent me and many 

other students from visiting some other German 

cities, or even other countries, showing 

that even though there is a lot of work, there 

is always time to enjoy being an ERASMUS 

student at HHL. 

Hussein Hmami 

Partnership 

Poland, Poznan 

University of Economics 

HHL has offered me a truly outstanding experience 

during my exchange semester. 

Courses with qualified and well-known professors 

were a great challenge (the workload 

was quite demanding) and provided me with 

a perfect learning experience in an interna- 

tional environment. 

During classes and long hours of group work, 

I got to know the German way of handling 

problems and had the possibility of working 

in English and practicing my German at the 

same time. The student community made 

my stay in Leipzig extraordinary. I found my 

classmates to be very friendly and helpful in 

getting me accustomed to the new surroundings. 

We not only studied together but also 

partied and took some trips to enjoy other 

parts of Germany. I have never made so 

many international friends in such a short 

time! 

I will treasure the wonderful memories from 

Leipzig and keep my new friends in my heart. 

Coming here with high expectations, I can go 

home with those fulfilled. I would like to take 

the opportunity to thank the faculty, the administration 

and fellow students for making 

my stay in Germany such a valuable and unforgettable 

experience. 

Edyta Kasprzak 


Mexico, Mexico City 

ITESM 

11 

Studying abroad is one of the most valuable 

experiences you can have. It is an opportunity 

to grow, not only professionally but also on a 

personal level, as you discover a new culture 

and a completely different way of learning. 

Our first experience of Germany has been 

really successful for us. Sharing with our colleagues 

of different nationalities has taught 

us the way of thinking of young people just 

like us from around the world, and revealed 

their attitudes to everyday life and problems. 

HHL received us with a full package of wonderful 

surprises; the structure of the courses 

and the assignments involved us in a world of 

knowledge and new challenges. 

We are now talking about new ways of doing 

things that could help us improve our own 

performance back in Mexico in the future and 

contribute to the country’s development. In 

addition, our experience at HHL has given us 

the impulse to overcome barriers and boundaries; 

from the language to the process of 

adaptation, we have learnt that the best way 

of reacting to pre-conceived paradigms is to 

take risks, to dare and always to work hard to 

achieve goals in every aspect of our lives. 

Aurora Valiente, Gabriela Cervantes and 

Jonathan Anzaldo

12 Partnership 

HHL students travel the world 

Ecuador, Quito 

Universidad del Pacifico 

We spent one term at Universidad del Pacifico 

(UPAC) in Ecuador. Our decision to go to 

a developing country was based on the desire 

to learn a new language, to find out about 

another culture and to spend some time far 

away from home. UPAC has three campuses; 

one in Quito, one in Guayaquil and one in 

Cuenca. We decided to study in Quito, since 

it is the capital of Ecuador and is geographically 

well situated as a base for traveling 

throughout the country. 

Our studies gave us interesting insights into 

what it’s like to be a student in Latin America. 

The university offers a wide range of courses, 

which are mostly characterized by a high level 

of interaction and group work. In addition, 

Universidad del Pacifico provides excellent 

support to help foreigners feel comfortable 

with Spanish and to become part of the 

community. 

Our travels throughout Ecuador were also 

really exciting. Despite being only about two 

thirds the size of Germany, Ecuador nonetheless 

has four geographically and climatically 

completely separate regions – the Andes, the 

jungle, the coast and the Galapagos Islands 

– and therefore offers a broad range of op- 

portunities. It is possible to spend one day on 

Cotopaxi, the world’s highest active volcano, 

and be on the beach the next. In conclusion, 

going to Ecuador was one of the best experiences 

of our lives. 

Janis Münch, Kristin Schieback (both K22) 

New Zealand, Wellington 

Victoria University 

New Zealand’s capital Wellington is picturesquely 

located between mountains and the 

sea. The beautiful city offers many opportunities 

to enjoy beach life, night life and Kiwi life, 

and also caters for a broad range of cultural 

tastes. An excellent public transportation 

network makes exploring the area a pleasant 

experience. 

Victoria University and the Faculty of Commerce 

and Administration are well equipped 

with computers and technology, while the 

large library offers a broad range of literature. 

The courses are highly relevant and self- 

study is an integral part of success. However, 

they differ significantly from the style of lectures 

at HHL. The workload in general is high 

and typical for a university in New Zealand. 

As a result, there is rarely time for traveling 

during the trimester. Nevertheless, any visitor 

should experience the beauty of the country 

and allow some time for exploring New Zealand 

after the term is finished. Both the North 

and South Islands are ideal for backpacking 

and camping, and are great places to explore, 

offering unique landscapes combined with 

the charming Kiwi style. 

Alexander Kaulfersch, Christian Heinig 

(both K22) 


Japan, 

Nagoya University of 

Commerce and Business 

I wanted to go to an Asian country for my 

term abroad and chose Nagoya University of 

Commerce and Business (NUCB) as my destination. 

Nagoya is Japan’s fourth largest city 

and could be described as a metropolis of 

high-rise buildings, wide boulevards, multilane 

highways and flyovers, where business 

takes precedence over tourism. It is hard to 

find anybody on the street who speaks or 

even understands English. Due to its central 

position in Japan, and as it has its own airport, 

Nagoya is a good base for exploring the 

country – a place of ancient gods and customs, 

but also with a cutting edge of cool 

modernity. 

NUCB is highly respected, and is the second 

Japanese university to receive AACSB accreditation. 

Located in the business area of 

Nagoya, it offers a direct link to Japanese 

companies, something I personally experienced 

when visiting Toyota or the Nagoya 

office of BCG. I took courses in the Englishspeaking 

MBA program which focused on 

international management issues. 

Even though most of the students in the 

courses are exchange students from all over 

the world, I was nonetheless able to get to 

know many Japanese people who are gen- 

erally open minded and very friendly towards 

foreigners, and are happy to show their special 

way of life. 

In summary, my time at NUCB involved a lot 

of work but I also found the time for sightseeing 

around the country, enjoying Japan’s natural 

beauty and learning for life in general. 

Adelheid Plümpe (MSc2)

USA, New Orleans 

Tulane University, A.B. 

Freeman School of Business 

New Orleans is one of the most exciting cities 

in the southern USA. “N’awlins”, as it is known 

locally, is famous for Mardi Gras, the Jazz and 

Heritage Festival, and the charming French 

Quarter with its art galleries, antique shops, 

historical museums and live-music clubs. All in 

all, the “Big Easy” offers plenty of possibilities 

for spending your leisure time outside the university. 

The campus of Tulane University’s Freeman 

School of Business is located in the heart of 

the historical district of New Orleans on St. 

Charles Avenue, which is famous for its beautiful 

French colonial mansions. Tulane University 

is one of the major international studies 

research institutions in the USA and attracts 

students from all over the world. 

The MBA program at Freeman School emphasizes 

practical skills supported by a strong 

theoretical background. The business school 

is well respected throughout the country, including 

on Wall Street, for its hands-on seminars, 

such as Burkenroad Reports, Darwin 

Fenner Student Managed Fund, as well as for 

its comprehensive trading courses. Beside its 

strength in Finance that led to the ranking of 

“10 th globally in finance” according to the Financial 

Times, the MBA program offers excellent 

specializations in Entrepreneurship, International 

Business, Leadership and Consulting. 

Partnership 

Because of the high standard at the Freeman 

School of Business, our semester abroad was 

a challenging and very enjoyable experience. 

Pierre Franke, Jan Rößler (both K22) 

Uruguay, Montevideo 

Universidad ORT 

Uruguay is located between Brazil and Argentina 

with a long Atlantic coast in the east 

and the Rio de la Plata River in the south. 

With only 3 million inhabitants, half of whom 

live in the capital Montevideo, it is known as 

the “Switzerland of South America”. Uruguay 

is famous for producing some of the world’s 

best beef, often served a la parrilla (grilled), 

the sweet dulce de leche (“sweet milk”) and 

maté tea. 

Universidad ORT is the biggest private university 

in the country and enjoys a very good 

reputation. Most of the professors graduated 

from and have taught at renowned universities 

(e.g. Harvard) and so combine high academic 

standards with case studies, readings, 

quizzes, and participation in class. The 

courses either take place in the morning or 

evening as most students work during the 

day. But despite their long days, Uruguayan 

students are very relaxed, open and 

friendly. Once you get to know them, they 

will often invite you to an asado (barbecue) or 

even to their beach houses. Aside from studying, 

there was still some time available to 

experience the new culture, and to enjoy the 

beaches, parties and traveling. 

Andreas Preller (MSc2) 


Norway, Oslo 

Norwegian School of 

Management 

13 

When we arrived at the Norwegian School of 

Management (BI), we were welcomed with 

two introductory weeks consisting of case 

studies, sightseeing tours, and parties where 

we met all the exchange students and our 

Norwegian colleagues. 

During the last sunny days in August, we 

spent a lot of time exploring the city of Oslo 

with its museums, theaters, and the beautiful 

view over the rooftops from the Holmenkollen 

to the famous ski jump. Oslo’s night life is 

an expensive experience as the liquor prices 

burn big holes in your pockets very quickly. 

However, Norwegians do not seem to mind 

and enjoy themselves anyway, and we soon 

adjusted easily enough. 

The university is an architectural landmark 

and a fruitful environment in which to study 

and to get to know BI’s diverse student body. 

You can spent the whole day at the university 

and enjoy many facilities such as a gym, a 

coffee shop, a convenience store, a book 

store, and, of course, the beloved library. 

We went on a number of trips to discover 

Norway outside Oslo, for example to Stavanger, 

and experienced the beautiful landscape 

and natural Norwegian environment. We enjoyed 

every single day and really recommend 

Norway and Oslo to all prospective exchange 

students. Ha det bra! 

Kareen Günther (MSc2), Erich Süß (MSc2) and 

Stefan Merker (K22)

14 

Activities 

HHL – a reliable partner in the region 

From left to right: Detlef Scheunert, Dr. Stephan Stubner and 

Christian Vogel 

At the two events HHL-Unternehmergespräche 

(Entrepreneurs’ Talks at HHL) and Wirtschaft trifft 

Wissenschaft (Business meets Academia) HHL 

demonstrated once more its strong partnership 

with the regional business world. 

On November 26, 2008, representatives of local 

firms met with professors and students from 

HHL for the fifth time for the HHL-Unternehmergespräche 

on the premises of PC-Ware Information 

Technologies AG. The topic was “Succession 

challenges in family business”. Dr. 

Stephan Stubner, Assistant Professor at the 

Chair of Strategic Management and Academic 

On the path to success 

Dr. Stefan Niemeier 

Partner 

McKinsey & Company, Inc. 

HHL news: How did your studies at 

HHL prepare you for your career? 

Dr. Niemeier: In many ways, my time 

at HHL helped me to make a smooth 

transition from studying to working. 

HHL teaches you the right balance 

Director of the Program “Inter- 

national Entrepreneurship” at HHL, 

gave a presentation on problems of 

succession planning for privately 

held companies. He showed first 

results of a study, which he is 

conducting with the financial support 

of the IHK zu Leipzig 

(Leipzig Chamber of Industry and 

Commerce), and outlined the importance 

of long-term succession 

planning. The second presentation 

by Christian Vogel (CEO of the 

Leipzig-based CFH Beteiligungsgesellschaft 

mbH) dealt with the topic of 

the valuation of a company. 

In the final presentation Detlef Scheunert, 

CEO of an international contract manufacturer, 

gave insights into the situation of an entrepreneur 

involved in a management buy-in. 

The event, generously hosted by PC-Ware 

Information Tech-nologies AG, was jointly organized 

by PC-Ware, the IHK, BVMW Leipzig 

(German Association for Small and Medium-sized 

Businesses) as well as HHL, and 

supported by the Stifterverband für die Deutsche 

Wissenschaft and the BMBF (Federal 

between academic and pragmatic thinking, 

develops your team work and leadership 

skills, and gives you countless opportunities 

to improve your presentation skills. 

HHL news: What does your current job 

involve? 

Dr. Niemeier: As a partner at McKinsey & 

Company, my job offers a lot of variety. On 

projects, I need to make sure that my teams 

develop the right solutions for our clients. I 

counsel individual clients on issues important 

to them and I keep in touch with prospec- 

tive clients. In addition, I help to develop 

McKinsey and its people further by being 

responsible for a number of internal activities. 

HHL news: What does the HHL alumni network 

mean to you? 

Dr. Niemeier: Some of my best friends are 


Ministry of Education and Research) in the 

framework of the HHL Open School Initiative. 

On December 4, 2008, the academic and 

business worlds met for the sixth time under 

the heading Wirtschaft trifft Wissenschaft at 

the invitation of the IHK. HHL is one of five institutions 

of higher education in the region that 

signed the new cooperation agreement with 

the IHK at the Fraunhofer Institute for Cell 

Therapy and Immunology (IZI) in Leipzig. The 

IHK set aside 120,000 EUR to support the 

knowledge and technology transfer between 

research facilities, universities and small and 

medium-sized companies in the region. 

In addition to its long-standing chair endowment, 

the IHK has financed a number of HHL 

projects over the years. In the course of the 

plenary event, Dr. Marcus Kölling, Executive Director 

of the Center for Leading Innovation & 

Cooperation (CLIC), and Dr. Anne-Kathrin Neyer, 

Senior Research Fellow (CLIC), gave insights 

into one of the other IHK-funded projects when 

they talked about “Open innovation – alternative 

innovation strategies for SMEs”. 

Dennis Häckl, Volker Stößel 

people I met at HHL. Our 10 th anniversary 

class reunion of K2 took place recently 

and it was amazing to see how close people 

are even after such a long time and 

how many memories we share. It felt like 

our graduation had just happened the day 

before. 

HHL news: What is the smartest advice 

you ever got? 

Dr. Niemeier: It’s very difficult to pick “the 

smartest” advice. What was definitely a 

good piece of advice was that whenever 

you’re worried by something, you should 

think about what was worrying you three 

months ago. Most of the time you won’t 

remember, and that’s exactly what will 

happen with your current problem.

Activities 

Partner für Forschung 

und Studium 

Die erstklassige Qualifi zierung unserer Mitarbeiter sichert der 

VNG-Gruppe eine führende Position auf den globalen Energiemärkten. 

Damit wir auch in Zukunft auf Spitzenkräfte setzen können, 

unterstützen wir besonders befähigte Studenten, Hochschulen 

und mit unserer Initiative VNG-Campus auch länderübergreifende 

Hochschulkooperationen. 

Die VNG – Verbundnetz Gas AG mit Sitz in Leipzig ist ein international agierender Erdgasimporteur 

und Energiedienstleister mit 50-jähriger Tradition. Zum Kerngeschäft der Unternehmensgruppe 

gehören der Handel mit Erdgas, der Transport und die Speicherung sowie 

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VNG – Verbundnetz Gas AG | PF 24 12 63 | 04332 Leipzig | Telefon + 49 341 443-0 | Fax + 49 341 443-1500 | info@vng.de | www.vng.de 

15

16 

Activities 

Regional book launch Services Made in Germany – A Travel Guide 

On November 4, 2008, the book premiere of 

Services Made in Germany – A Travel Guide 

took place at the Zeitgeschichtliches Forum 

Leipzig (Leipzig Forum of Contemporary History). 

After a short greeting by Dr. Kornelia 

Lobmeier (Research Associate, Leipzig Forum 

of Contemporary History), Professor Dr. 

Dr. h.c. Hans Wiesmeth (Dean, HHL) wel- 

comed the audience and introduced the 

book presentation. 

During the event, all participants were invited 

to join the project team of HHL’s Center for 

Leading Innovation & Cooperation (CLIC) on 

the journey to exciting locations of service 

innovation and service research in Germany. 

The authors of the travel guide, Professor Dr. 

Prof. h.c. Dr. h.c. Ralf Reichwald and Professor 

Dr. Kathrin M. Möslein, Academic Directors 

of CLIC, and Assistant Professors Dr. 

Marcus Kölling and Dr. Anne-Katrin Neyer, 

presented highlights of service innovation 

such as service engineering at Munich Airport, 

service individualization at Adidas in 

Herzogenaurach or service excellence in 

education and research at Germany’s cradle 

Book premiere and presentation Strategies Towards 

Innovative Services – CLIC at the RESER conference 

Dr. Anne-Katrin Neyer and Dr. Marcus Kölling at the RESER conference 

RESER is an interdisciplinary European network 

focusing on service research. Researchers 

and practitioners from the worlds of 

business and politics meet to exchange and 

discuss ideas on services at an annual con- 

Regional book launch in Leipzig on November 4, 2008 

of business administration: HHL. Next, Dr. 

Knut Löschke, Founder and Chairman of the 

Board of PC-Ware Information Technologies 

AG, fascinated the audience with his concepts 

of service innovation in the IT industry. 

ference, the topic of which in 

2008 was “New Horizons for the 

Role and Provision of Services”. 

Professor Dr. Kathrin M. Möslein, 

Dr. Marcus Kölling and Dr. Anne- 

Katrin Neyer from CLIC delivered 

a paper entitled Strategies Towards 

Innovative Services: Findings 

from the German Service 

Landscape in a workshop session. 

They presented their research 

findings and discussed 

with participants new opportunities 

for companies, concluding 

that the German service land- 

scape can be divided into five 

clusters. Designing service innovations 

means focusing either on a highly 

people-oriented or highly IT-based inter- 

action. German service providers follow an 

approach of differentiation rather than cost 

leadership, offering their customers high 


In conclusion, Dr. Thomas Hofmann, Managing 

Director of IHK zu Leipzig (Leipzig 

Chamber of Industry and Commerce), presented 

his institution as a service partner for 

enterprises in our region. 

quality and unique services. Service inno- 

vations by German companies continue the 

country’s tradition as a quality leader in 

certain industries. 

CLIC also launched the English edition of its 

Services Made in Germany – A Travel Guide, 

which gives insights into the German service 

industry, showcasing remarkable examples 

of innovation. For example, you can read 

about the fascinating services offered by 

Flowline, a German company providing service 

engineering in Hollywood, about what 

bookkeeping will look like in the future, or 

about how a “care-free system” for machines 

works. The travel guide is a result of the project 

“Innovative Services on the Way to World 

Class”, which is funded by the BMBF (Federal 

Ministry of Education and Research). 

For more information, please go to: 

http://innofor.clicresearch.de/

Activities 

CLIC at the Academy of Management 

2008 conference in Anaheim 

August 8-13, 2008, the worldwide management 

research community met in Anaheim, 

California/USA, to discuss the latest research 

findings under the heading “AoM 2008: The 

Questions We Ask”. Professor Dr. Kathrin M. 

Möslein, Dr. Marcus Kölling and Dr. Anne- 

Katrin Neyer from CLIC ran a Professional 

Development Workshop (PDW) entitled: “Discovering 

innovative answers to compelling 

questions about services”. 

Together with their colleagues Professor 

Anne Huff, PhD (Technische Universität München), 

Bernhard Doll (UnternehmerTUM), 

and Professor Barbara Gutek, PhD (University 

of Arizona), they discussed findings gained 

from 12 years of research in the field of “Services 

in Germany”. Participants in the workshop 

were intrigued by the absorbing subject 

of service innovation and its inherent challenges 

for both research and practice. 

HHL on top 

For the fourth consecutive year, HHL MBA 

alumni met for the hiking event known as 

“Future Executive Wandern” in September 

2008. This year’s destination was the Plei- 

HHL MBA alumni at “Future Executive Wandern” 

One of the workshop highlights was the active 

involvement of the participants from all 

over the world in the prototyping service innovation 

experience. One of the participants 

said: “It was great to learn about and experience 

the different prototyping tools, such as 

simple paper and pencil approaches, or 

LEGO ® , and how they can be used to create 

highly innovative services. I’m thinking about 

using this approach for teaching my MBA 

students about service innovations.” 

senhütte, a point overlooking the Karwendel 

Mountains on the German-Austrian border at 

an altitude of 1757 m. 


17 

Professor Dr. Kathrin M. 

Möslein now member of 

editorial board of Journal of 

Strategy and Management 

Professor Dr. Kathrin M. Möslein has joined 

the editorial board of the Journal of Strategy 

and Management. The Journal of Strategy 

and Management is an international 

journal dedicated to (1) improving the existing 

knowledge and understanding of strategy 

development and implementation globally 

in private and public organizations, (2) 

encouraging new thinking and innovative 

approaches to the study of strategy, (3) offering 

executives strategic insights based 

on outcomes of original scholarly research, 

and (4) establishing effective communication 

between researchers and executives 

managing public and private organizations. 

If you have any questions about the journal, 

its reviewing process or manuscript requirements, 

please feel free to contact: 

kathrin.moeslein@hhl.de 

The 12 participants met on Friday evening 

in Munich and started the hiking weekend 

with a hearty breakfast at Munich’s famous 

Nockherberg beer garden on Saturday 

morning. 

After three hours of enjoyable hiking later 

that day (some even took up the challenge 

and continued the climb up to the Pleisenspitze 

summit at 2567 m), the group arrived 

safely at the Pleisenhütte, which is famous 

for its outgoing host and rather relaxed attitude 

towards the typical rules in hiking 

dorms. A great home-made Austrian dinner 

was followed by an evening of relaxed and 

convivial drinking in the dorm. On Sunday, 

the group returned to Munich. 

The event was again a great opportunity to 

stay in touch with HHL MBA alumni and to 

strengthen the existing network among the 

participants. Anyone interested in joining in 

the event in 2009 should contact Rolf Illenberger 

(rolf.illenberger@mba.hhl.de). 

Rolf Illenberger (M6)

18 

Management program for 

regional chemical company 

Participants in DOMO Caproleuna’s General Management 

Program 

In August 2008, HHL Executive started a General 

Management Program for DOMO Caproleuna 

GmbH, which will run until June 2009. 

Located in Leuna, the company is part of 

DOMO ® CHEMICALS, a competitive and dynamic 

player operating in growing plastic market 

segments. The program participants, all of 

them executives of DOMO Caproleuna and 

most of them with a background in applied 

natural science, will pass through 11 modules 

which will broaden their management skills. 

Professor Dr. Torsten Wulf, the Academic Director 

of the program, conducted the first 

module about Strategy and Competition. 

New staff 

Nicole Scheuermann joined HHL Executive in 

September 2008 as Program Administrator. 

She supports the Executive Management in 

the administration, development and marketing 

of the programs and seminars. After 

completing her qualification as Business Assistant, 

Mrs. Scheuermann first worked at 

Rolf Benz. Following a stint in London, she 

moved to the human resources department 

of the Stuttgart Media University (HdM). 

Executive Education 

Outstanding year for HHL Executive 

2008 was the most successful year to date in 

the history of HHL Executive. HHL’s subsidiary 

for executive education attracted new clients 

and developed and conducted more company-specific 

programs than ever before. As 

part of the long-standing partnership with the 

Bertelsmann University, this year’s Senior 

Management Program took place with a record 

number of participants. The first modular, 

tailor-made General Management Program in 

partnership with the DKB Management 

School was completed in November. This 

program was so well received that an open 

enrollment version will be conducted in 2009. 

The Volkswagen General Management Program 

for over 80 executive managers of 

Volkswagen Sachsen will continue until July 

2009; half of the learning modules were already 

successfully completed in 2008. The 

Top Executive Program in conjunction with 

the DOUGLAS HOLDING ACADEMY took 

place three times; a fourth program will start in 

February 2009. Further programs in 2008 

were the Financial Consulting Program for 

Blue Corporate Finance and the Business 

Simulation Seminar for Siemens Enterprise 

Communications Manufacturing. 

In 2009 HHL Executive is venturing into new 

areas, launching an open enrollment General 

Management Program for General Management 

program for executives. In the six mod- 


ules the participants will learn about new 

concepts and management tools in the fields 

of strategic management, problem solving, 

brand management, leadership and communication, 

finance and controlling. During 2009 

German companies have to get ready for 

the modernization of German GAAP (Bil- 

MoG). HHL Executive is therefore offering 

open seminars with Professor Dr. Henning 

Zülch and Sebastian Hoffmann (Chair of 

Accounting and Auditing) on February 19, 

2009, and March 5, 2009, to prepare manag- 

ers and decision makers in the areas of accounting, 

auditing, controlling and finance 

for this challenge. 

Jana Studemund, Managing Director of 

HHL Executive, is excited about the growth 

of the company and the diversification of 

HHL Executive’s portfolio, “Given the excellent 

response to our company-specific management 

programs, we are confident that 

our customers will find that the programs 

and seminars we have planned for 2009 will 

meet their needs not only in terms of content, 

but also in quality of service. At HHL 

Executive, the customer is king!” 

Jana Studemund, HHL Executive 

Tel.: +49 341 9851-699 

E-mail: jana.studemund@hhl.de 

executive.hhl.de 

HHL Executive welcomes participants of 

MDI’s Advanced Management Program 

In mid September 2008, HHL Executive 

again hosted the Advanced Management 

Program of HHL’s partner university Management 

Development Institute (MDI), Gurgaon, 

India. The three-day program for 32 General 

Managers and Deputy General Managers of 

large Indian companies consisted of a mixture 

of interactive classes and company excursions. 

The lectures were held by Professor 

Dr. Torsten Wulf, Chair of Strategic Man- 

agement and Organization, Professor Dr. 

Manfred Kirchgeorg, Chair of Marketing 

Management, and Professor Dr. Bernhard 

Schwetzler, WestLB Chair of Finance. In 

addition an interactive session was held by 

Dr. Tillman Blaschke, Member of the Man- 

agement Board of PC-Ware Information 

Technologies AG, who introduced the participants 

to management challenges in an 

environment of growth and internationalization. 

Supplementing the academic input, participants 

visited the BMW plant in Leipzig as 

well as TAKRAF, a world leader in opencast 

mining and materials handling technologies, 

and the plant of Siemens Enterprise Communications 

Manufacturing GmbH & Co. KG. 

HHL Executive looks forward to welcoming 

a group of Indian top managers to Leipzig 

again in 2009. 

Sandra Miersch

Activities 

Wirtschaftsnavi 

Kostenloses Probe-Abo unter 01802/818283 (0,06 € pro Anruf) oder www.ftd.de/probeabo 


19

20 

Chair of Accounting and Auditing 

Research 

Annual financial reporting – a big challenge for all companies 

From left to right: Friedhelm Wachs (P2), Michael Otto (K20), Professor Dr. Henning Zülch, Dr. Georg Flascha, 

Professor Dr. Klaus Kreulich 

Increasingly stringent reporting standards are 

a big challenge for all reporting companies. In 

view of this, the Leipziger Gesprächskreis 

Financial market 

reporting at the 

University of Leipzig 

On November 4, 2008, Sebastian Hoffmann 

joined the first “Financial Market Reporting” 

seminar held by the University of Leipzig’s Institute 

for Communication and Media Sciences. 

He presented selected topics connected 

with financial analysis focusing on 

banks to 20 journalism students and Christina 

Rathmann, journalist with Financial Times 

Deutschland. 

Ms. Rathmann then discussed practical 

aspects of reporting about banks with the 

seminar participants. The unique combination 

of accounting theory and journalism was 

very rewarding, and the seminar is likely to be 

repeated next year. 

Sebastian Hoffmann 

Rechnungslegung und Prüfung e.V. (LGK) 

organized a lecture and discussion event at 

HHL on September 5, 2008, in cooperation 


with KPMG Leipzig which was attended by 

more than 60 business people, researchers 

and students. In an effort to do justice to the 

complexity of the topic, three aspects were 

presented. Firstly, Gerhard Bischof from 

KPMG Berlin introduced the legal reporting 

framework from a national and an interna- 

tional point of view. Secondly, Professor Dr. 

Klaus Kreulich from Michael Konrad GmbH 

(a financial reporting software provider) outlined 

IT solutions for compiling financial reports. 

Finally Michael Otto, HHL alumnus 

who now works at Impacct Communication 

GmbH (an agency for corporate communication), 

discussed design aspects for annual 

reports. All the participants appreciated the 

combination of perspectives on reporting 

and said they believe that the topic will remain 

“hot” for the next few years. 


The current financial crisis discussed by LGK 

From left to right: Professor Dr. Henning Zülch, Professor Dr. Edgar Löw, 

Christian Strenger, Professor Dr. Bernhard Schwetzler 

On June 10, the Leipziger Gesprächskreis 

Rechnungslegung und Prüfung e.V. (LGK) organized 

its second event at HHL in 2008, discussing 

the sub-prime mortgage crisis currently 

dominating the financial markets. The 

discussion was arranged in cooperation with 

finexpert GmbH. After a short introduction by 

LGK, Professor Dr. Edgar Löw, Head of the 

Department of Professional Practice Banking 

& Finance at KPMG Germany in Frankfurt, 

identified the reasons for the present crisis by 

explaining important accounting questions 

and outlining weaknesses in current 

accounting practices. Afterwards, 

Löw memorably illustrated 

his explanations by commenting 

on Germany’s best-known victims 

of the crisis: IKB and Sachsen LB. 

He was followed by Christian 

Strenger, a member of the German 

Corporate Governance 

Committee, who gave a lecture 

on the monitoring and administration 

of banks and their role in the 

crisis. He identified massive problems 

in the field of bank governance; in particular, 

this included poorly qualified members 

of bank supervisory boards and called for 

better skills in boardrooms, saying that they 

are necessary in order to avoid future crises 

on financial markets. At the end of the discussion, 

all participants agreed that action 

on the financial markets is essential – in issues 

concerning accounting as well as 

monitoring and management. 

Sebastian Hoffmann

Publications 

Zülch, Henning / Nellessen, Thomas 

Geplante Änderungen in der Bilanzierung von 

aufgegebenen Geschäftsbereichen nach IFRS 

in: Praxis der internationalen Rechnungslegung 

(PiR) 4 (2008) 12, pp. 406-408 

Zülch, Henning / Burghardt, Stephan 

Akzeptanz der IFRS am amerikanischen 

Kapitalmarkt 


(PiR) 4 (2008) 11, pp. 378-379 

Zülch, Henning / Hoffmann, Sebastian 

Bilanzierung am Wendepunkt? 

in: Der Betrieb, 61 (2008) 46, p. I 

Pronobis, Paul / Schwetzler, Bernhard / Sperling, 

Marco O. / Zülch, Henning 

Die Entwicklung der Ergebnisqualität (Earnings 

Quality) in Deutschland – Eine quantitativ 

empirische Analyse deutscher börsennotierter 

Unternehmen zwischen 1997 und 2006 

Working paper (53 pages) 

available at http://ssrn.com/abstract=1266589 

Zülch, Henning / Burghardt, Stephan 

The granting of loans by German banks to small 

and medium-sized entities against the background 

of international financial reporting 


available at http://ssrn.com/abstract=1296611 

Zülch, Henning / Willms, Jesco 

IFRS 6 – Exploration und Evaluierung von 

mineralischen Ressourcen (Exploration for and 

Evaluation of Mineral Resources) 

in: Münchener Kommentar zum Bilanzrecht Band 1 

IFRS – München, C. H. Beck, 2009 – ISBN 

9783406578649 

Zülch, Henning / Fischer, Daniel 

IAS 1 – Darstellung des Abschlusses 

(Presentation of Financial Statements) 


IFRS – München, C. H. Beck, 2009 – ISBN 

9783406578649 

Henning Zülch / Jesco Willms 

IAS 8 – Bilanzierungs- und Bewertungsmethoden, 

Änderungen von Schätzungen und Fehler 

(Accounting Policies, Changes in Accounting 

Estimates and Errors) 


IFRS – München, C. H. Beck, 2009. – ISBN 

9783406578649 

Zülch, Henning / Gebhardt, Ronny 

Politische Ökonomie der Rechnungslegung – 

Forschungsansatz, Empirische Ergebnisse und 

kritische Würdigung 

HHL working paper no. 83, p. 39 

Leipzig 2008 


Impairment Test 

in: Bilanzen im Mittelstand, 1 (2008) 2, p. 43 



Analyse und Würdigung der Stimmung zum 

BilMoG im Deutschen Bundestag 

in: Der Betrieb, 61 (2008) 42, pp. 2261-2263 


Beginn der zweiten Phase des IASB Annual 

Improvements Project. 


(PiR) 4 (2008) 10, pp. 342-344 

Zülch, Henning / Pronobis, Paul 

Das „Joint Financial Statement Presentation 

Project“ von IASB und FASB: angedachte Neuerungen 

im Rahmen der Phase B 


(PiR), 4 (2008) 9, pp. 302-304 


Auswirkungen der Krise an den Finanzmärkten 

in: Zeitschrift für Corporate Governance: ZCG, 3 

(2008) 4, pp. 189-192 

Zülch, Henning / Nellessen, Thomas 

Die Überarbeitung der Rahmenkonzepte von 

IAS und FASB: aktueller Stand des „Conceptual 

Framework-Project“ 


(PiR), 4 (2008) 8, pp. 270-273 

Zülch, Henning 

IAS 40 - Als Finanzinvestition gehaltene 

Immobilien 

in: Internationales Bilanzrecht, Rechnungslegung 

nach IFRS 

Bonn [u.a.], Stollfuß, 2008 – ISBN 9783083509004 


Die Stellungnahme des Bundesrats zum Bil- 

MoG-RegE – Anmerkungen zu den vorgeschlagenen 

Änderungen 

in: Der Betrieb, 61 (2008) 31, pp. 1643-1644 

Hoffmann, Sebastian 

Asset-Backed-Securities und Kreditderivate: 

eine vergleichende Analyse zu deren Einsatz in 

der Kreditportfoliosteuerung 

in: Saarbrücken: VDM-Verl, 2008, p. 96 – 

ISBN 9783836485166 

Zülch, Henning / Löw, Edgar 

Eine Frage der Darstellung - IFRS kann den 

Zugang zu Krediten erleichtern 

in: Finance: das Finanzmagazin für Unternehmer, 

(2008) 7/8, pp. 30-31 


21 


IFRS-Erstanwendung und Aufstellung separater 

Einzelabschlüsse: Änderungen in IFRS 1 und 

IAS 27 


(PiR), 4 (2008) 7, pp. 237-239 

Zülch, Henning / Wünsch, Martin 

Indikative Kaufpreisallokation bei der Bilanzierung 

von Business Combinations nach IFRS 3 

in: Zeitschrift für internationale und kapitalmarktorientierte 

Rechnungslegung (KoR), 

8 (2008) 7-8, pp. 466-474 


Die geplante Neuregelung zu Ansatz und Bewertung 

von Rückstellungen nach dem BilMoG 

– Handlungsbedarf für den Mittelstand 

in: Bilanzen im Mittelstand, 1 (2008) 1, pp. 7-10 


Der Regierungsentwurf zum BilMoG: Neue 

Lösungen und viele Fragen 

in: Steuern und Bilanzen (StuB), 10 (2008) 11, p. I 


Bilanzrechtsmodernisierungsgesetz: Wesentliche 

Änderungen des Regierungsentwurfs 

gegenüber dem Referentenentwurf 

in: Betriebs-Berater (BB), 63 (2008) 24, pp. 1272-1276 

Participation in conferences 

Stephan Burghardt, Sebastian Hoffmann, Martin 

Wünsch 

9 th IFRS Round Table 

Leipzig, September 3, 2008 

Sebastian Hoffmann, Paul Pronobis, Martin Wünsch 

10 th IFRS Round Table 

Leipzig, October 1, 2008 

Daniel Fischer 

7. IFRS Kongress 

Berlin, November 24-25, 2008 

Professor Dr. Henning Zülch, Martin Wünsch 

SIR-Kongress zur softwaregestützten Konzernrechnungslegung 

Munich, November 27-28, 2008

22 

Talks at conferences 

Paul Pronobis 

IFRS 8 – Segmentberichterstattung 

9th IFRS Roundtable 


Professor Dr. Henning Zülch, Martin Wünsch 

Aktuelle IFRS-Entwicklungen bei Business Combinations 

und die Bedeutung der Pre-Deal PPA bei 

der Kaufpreisallokation 

CFO Dialog 15, Hamburg, September 15-16, 2008 


Seminar Bankbilanzanalyse 

University of Leipzig, Leipzig, November 4, 2008 


Professor Dr. Henning Zülch 

• Hintergrund und Zielsetzung des BilMoG 

• Modernisierung des Einzelabschlusses 

• Bilanzierung immaterieller Vermögensgegen- 

stände nach BilMoG 

• Modernisierung der Unternehmensberichter- 

stattung und der Corporate Governance 

IFF-Seminar „BilMoG – Das neue HGB“ 

Hamburg, November 13-14, 2008 


Bilanzrechtsmodernisierungsgesetz: Aktueller 

Stand und weitere Entwicklung 

Seminar of Verband der Wohnungsgenossenschaft 

Sachsen-Anhalt e. V. 

Wernigerode, November 25, 2008 

IHK Chair of Applied Economic Theory 

Saxon biotechnology under the (economic) microscope 

The Center for Healthcare Management 

(CHM) at the IHK Chair of Applied Economic 

Theory was asked by the Saxon State Ministry 

of Science and the Fine Arts (SMWK) to 

evaluate the development of biotechnology 

in Saxony from an economic point of view. 

Characteristics of 

biotechnology 

In a first phase, the characteristics and challenges 

of the biotech market were highlighted: 

high R & D expenditures, long and risky 

research periods of up to 14 years and problems 

with the financing of start-ups as well 

as other factors influenced growth in the biotech 

industry. Nevertheless, to date this industry 

is comprised of many small companies 

with diverse activities regarding research 

and development. 

Biotech location Saxony 

In a second phase (scheduled to last until 

June 2009), the biotech landscape in Saxony 

will be examined based on the findings from 

International meetings and conferences 

Professor Dr. Hans Wiesmeth was invited to 

give a keynote lecture on “The Private Finance 

Initiative: Investment Opportunities in Waste 

Management” at the 2nd International Conference 

on Accounting and Finance in Thessaloniki, 

Greece, August 28-30, 2008. He was 

also invited to present the same paper at the 

EU-Asia Solid Waste Management Conference 

in Ipoh, Malaysia, October 28-30. 

October 12-27, Professor Wiesmeth participated 

in the final meeting of the Asia Link Pro- 

ject “INVENT – Integrated Waste Management 

Modules for Different Courses of Graduate 

Studies”. HHL is represented by the IHK Chair 

of Applied Economic Theory in this project 

which spans six countries. Professor Wiesmeth 

gave presentations on the topic of “Integrated 

Waste Management” in workshops and training 

courses in Phnom Penh (Cambodia), Can 

Tho (Vietnam), Vientiane (Laos) and Bangkok 

(Thailand). Waste management is a vital issue 

for these rapidly developing countries on the 

River Mekong as their economic growth is 



• Hintergrund und Zielsetzung des BilMoG 

• Modernisierung des Einzelabschlusses 

• Bilanzierung immaterieller Vermögensgegen- 

stände nach BilMoG 

• Modernisierung der Unternehmensberichter- 

stattung und der Corporate Governance 

IFF-Seminar „BilMoG – Das neue HGB“ 

Frankfurt, December 18-19, 2008 


Guest lecture “Seminar Ausgewählte Fragen der 

Konzernrechnungslegung und Konzernabschlussanalyse“ 

Vienna University, October – December 2008, 

Vienna, Austria 

phase 1. Indeed, the local development in 

Saxony will be investigated in a national context. 

The analysis will focus on patents, on 

third-party funding and venture capital, and 

on strategic alliances of companies and research 

institutions worldwide.The study will 

provide some insight into the special characteristics 

of a potential new growth area. 

Dennis Häckl 

being accompanied by increasing amounts of 

waste, while environmental awareness has not 

yet developed. “Integrated Waste Management” 

integrates waste and what could be 

done with it into the economic allocation problems; 

practical implementations are based on 

the three Rs: reduce, reuse, and recycle. Integrated 

waste management is a growth area, 

with a turnover of 120 billion EUR in the European 

Union last year. In 2008, venture capitalists 

in the US are expected to invest more than 

1 billion dollars in innovative recycling projects.


Center for Healthcare Management prepares 

eHealth project for European Union 

HHL’s Center for Healthcare Management 

(CHM) conducted a scientific study on telemedical 

care of pacemaker patients. The 

project, which included an analysis of 98 studies 

throughout Europe and a benefit assessment, 

was designed to assist in making 

fundamental decisions regarding the further 

application of telemedical procedures. 

The study was commissioned by Eucomed, 

an association of more than 60 leading medical 

technology manufacturers in Europe including 

Johnson & Johnson, 3M, Biotronik 

and Medtronic. The results will be made available 

to the European Commission which is 

about to launch a communication campaign 

for telemedicine. 

Enormous benefits 

for patients 

“Most health insurers and hospitals have recognized 

that remote patient monitoring 

technology, if applied correctly, offers enormous 

benefits for the patient and is very economical. 

Our research project looked at the 

European dimension of this issue for the first 

time and provides scientific evidence of the 

benefit,” explains Dr. Christian Elsner, Director 

of CHM. 

The researchers also assessed regulatory 

frameworks and found that most European countries 

face very similar problems: “Reimbursement 

is insufficiently regulated, which means 

that the use of telemedicine de facto generates 

a loss for physicians although the technology 

as such can very well cut costs for all parties 

involved and improve the quality of care,” says 

Dennis Häckl, co-author of the study. 

Attractive market 

CHM, known for its expertise in eHealth and 

reimbursement issues, was also asked to 

estimate the size of the telecardiology market 

for investors. According to the research work 

done, the market for telecardiology alone 

promises revenues totaling 400 million EUR 

annually. 

Next steps 

An action plan is being developed which will 

facilitate implementation of structured reimbursement 

and which will recommend regulatory 

measures. CHM is cooperating with 

several partners on the design and implementation 

of such a new reimbursement system. 

A pilot project is scheduled to be presented 

in early 2009. 

Dow Chair of Sustainability and Global Ethics 

New staff 

Hans-Christian Erdmann (K21) joined the Dow 

Research Professorship for Sustainability 

and Global Ethics as a Research Associate 

in August 2008. He graduated from HHL 

with a Diploma in Business Administration, 

majoring in Finance and Entrepreneurship. 

Before joining HHL’s Diploma program, he 

worked as a consultant for the Public Diplomacy 

Division at the NATO headquarters in 

Brussels. During his studies, he gained work 

experience in the German media industry 

and in various companies. 


Publications 

23 

Häckl, Dennis / Wiesmeth, Hans 

Analyse des Biotechnologie-Standortes Sachsen 

– Erfolge und Besonderheiten Expertise der HHL 

im Auftrag des Sächsischen Staatsministeriums 

für Wissenschaft und Kunst 

Working paper, 2008 

Häckl, Dennis / Elsner, Christian 

Nutzenbewertung von eHealth: Wie können 

ökonomische Bewertungen objektiv im eHealth- 

Kontext genutzt werden? 

in: Telemedizinführer Deutschland, Issue 2009 

(2008), pp. 24-28 

Elsner, Christian / Häckl, Dennis / Hindricks, 

Gerhard 

Nutzen der Telemedizin im Bereich der Kardiologie: 

Evaluation ökonomischer Effekte im 

Rahmen der REFORM-Studie 

in: Telemedizinführer Deutschland, Issue 2009 

(2008), pp. 117-119 

Wiesmeth, Hans 

Investment Opportunities in Waste Management 

through the Private Finance Initiative 

in: Investment Research and Analysis Journal (Vol. 

3 / N1 / Spring 2009) 


Professor Dr. Hans Wiesmeth 

Keynote Lecture on “The Private Finance 

Initiative: Investment Opportunities in Waste 

Management” 

2nd International Conference on Accounting and 

Finance 

Thessaloniki, Greece, August 28-30, 2008 


“Integrated Waste Management” 

Final Meeting of the Asia Link Project “INVENT – 

Integrated Waste Management Modules for Different 

Courses of Graduate Studies” 

Phnom Penh, Cambodia, October 14-16, 2008 

Can Tho. Vietnam, October 18-20, 2008 

Vientiane, Laos, October 23-25, 2008 

Bangkok, Thailand, October 27, 2008 


“The Private Finance Initiative: Investment 

Opportunities in Waste Management” 

EU-Asia Solid Waste Management Conference, 

Ipoh, Malaysia, October 28-30, 2008

24 

WestLB Chair of Finance 


A practitioner’s guide to value added 

From left to right: Dr. Florian Wiedemann and Professor Dr. Bernhard Schwetzler 

Publications 

Schwetzler, Bernhard / Rapp, Marc Steffen 

Equilibrium Security Prices with Capital Income 

Taxes and an Exogenous Interest Rate 

in: Finanzarchiv, vol. 64, no. 3, pp. 334-351 

Schwetzler, Bernhard 

Die „volle Entschädigung“ von außenstehenden 

und ausscheidenden Minderheitsaktionären 

– eine Anmerkung aus ökonomischer 

Sicht 

in: Die Wirtschaftsprüfung, 61. Jg., pp. 890-902 

Schwetzler, Bernhard / Friedl, Gunther 

Terminal Value, Accounting Numbers, and 

Inflation 

Working paper (23 pages), SSRN 

Schwetzler, Bernhard / Sperling, Marco O. 

Zur zeitlichen Entwicklung von Corporate Governance-Qualität 

und Eigentümerstrukturen 

in Deutschland 

in: Going Public, 10/2008, pp. 58-61 


Corporate governance and the dynamics of 

ownership of German firms between 1997 

and 2007 

in: Corporate Ownership and Control, forthcoming, 

Vol. 6, Issue 2, pp 25-32 


Die Entflechtung der Deutschland AG 

in: AG – Die Aktiengesellschaft, 21/2008, pp. 

R468-R470 

Pronobis, Paul / Schwetzler, Bernhard / Sperling, 

Marco O. / Zülch, Henning 

Die Entwicklung der Ergebnisqualität (Earnings 

Quality) in Deutschland – Eine quantitativ 

empirische Analyse deutscher börsennotierter 

Unternehmen zwischen 1997 und 2006 


Kengelbach, Jens / Schwetzler, Bernhard / 

Sperling, Marco O. 

How does proximity impact on the performance 

of M&A transactions? 



Alexander Lahmann, Martin Metzker, Marco O. 

Sperling, Matthias Tischner 

Doctoral Colloquium of HypoVereinsbank 

Stiftung 

Potsdam, October 17-18, 2008 


On September 25, 2008, Dr. Florian Wiedemann, 

Director of Duff & Phelps, was 

the special guest speaker at Foundations 

in Management, a course in the Master of 

Science in Management program at HHL. 

Dr. Wiedemann talked about the Value 

Added Approach and its application in 

practice. The two-hour presentation was 

followed by a lively discussion about finance 

in practice and Dr. Wiedemann’s 

management experiences at Duff & Phelps. 

Alexander Lahmann 


Marco O. Sperling 

“Who Is There When They Leave? – An 

Anatomy of Block Trades in a Bank-Based 

Economy” 

ATINER 6th International Conference on Finance 

Athens, July 7-9, 2008 


“M&A Activity Around the World” 

HHL Doctoral Colloquium 

Leipzig, July 25, 2008 


“Who Is There When They Leave? – An 

Anatomy of Block Trades in a Bank-Based 

Economy” 

German Economic Association of Business 

Administration (GEABA) – IX. Symposium zur 

ökonomischen Analyse der Unternehmung 

Augsburg, September 29-30, 2008 

Professor Dr. Bernhard Schwetzler 

„Unternehmensbewertung nach dem IDW 

S1: Zentrale Bewertungsannahmen auf dem 

Prüfstand“ 

IACVA Annual Meeting 

Frankfurt, October 1, 2008


Portfolio management and investment decisions at Henkel 

From left to right: Karsten Knobel and Professor Dr. Bernhard Schwetzler 

New staff 

Alexander Knauer (K21) joined the WestLB 

Chair of Finance and Center for Corporate 

Transactions as a Research Associate in October 

2008. He graduated from HHL and the 

Glauchau University of Cooperative Education, 

earning his Diploma in Business Administration 

with majors in Finance and Marketing 

and a Diploma in Finance and Banking re- 

Matthias Tischner (K21) joined the WestLB 

Chair of Finance as a Research Associate in 

August 2008. He graduated from HHL, where 

he received his Diploma in Business Administration 

with majors in Finance and Strategic 

On November 26, 2008, the Corporate 

Vice President of Henkel 

AG & Co. KGaA, Carsten Knobel, 

held a guest lecture on “Portfolio 

Management and Investment Decisions 

– Henkel’s Acquisition of 

National Starch” as a part of the 

MBA’s Financial Management 

course. The lecture offered some 

crucial insights into the practical 

application of investment and financing 

concepts that were covered 

during the course. The sec- 

Sven Arnold joined the WestLB Chair of Fi- 

nance as a Research Associate in December 

2008. He graduated from the Leipzig University 

of Applied Sciences (HTWK), where he 

received his Diploma in Business Mathematics. 

He specialized in Financial and Actuarial 

Mathematics. During his studies he 

spectively. In 2007, he spent a semester at 

the University of Victoria in British Colombia, 

Canada, participating in the MBA program in 

Entrepreneurship. During his studies, he gained 

work experience at zeb/rolfes.schierenbeck.associates 

and at BASF East Asia, 

Hong Kong. 

Alexander D. F. Lahmann joined the WestLB 

Chair of Finance as a Research Associate in 

September 2008. He graduated from the Freie 

Universität Berlin (FU Berlin), where he received 

his Diploma in Economics with majors in Finance, 

Mathematical Modeling and Public Fi- 

Management. Before joining HHL’s Diploma 

program, he completed his MBA in the USA. 

During his studies, he gained work experience 

in the financial services industry and in various 

companies. 


25 

ond part of the lecture was given by HHL 

alumnus Carsten Martens (K18), who talked 

about career opportunities at Henkel. Both 

presentations highlighted the links and similarities 

between Henkel’s and HHL’s profiles: an 

international focus, a long tradition, a personal 

atmosphere, dynamic and flexible people, and 

a concentration on quality and motivation. 

Henkel and HHL also share a common goal: 

to intensify the cooperation and partnership 

between them. 

Alexander Knauer 

gained work experience in the financial 

service industry in Munich, Frankfurt and 

Zurich with a focus on Pricing Theory, Risk 

Management, IT and Information Systems. 

However, he is not a new face. Mr. Arnold 

has been working at the Chair as a Research 

Assistant for one year already. 

nance. During his studies, he gained theoretical 

work experience at the Chair of Finance at the 

FU Berlin. Before joining the FU Berlin, he 

worked as an analyst in the Risk Management 

Division of Commerzbank AG while studying at 

the Berlin School of Economics.

26 

Chair of Marketing Management 


Positioning strategies for the center? – 

Leadership Talk 

Can companies compete successfully in the 

center or will they get stuck? The answer to 

this question is at the heart of a well-known 

model developed by Harvard professor and 

holder of HHL’s honorary doctorate Michael 

E. Porter, PhD. It, along with its social causes 

and effects, was discussed during the 55 th 

Leadership Talk of the Wissenschaftliche Gesellschaft 

für Marketing und Unternehmensführung 

(Academic Society for Marketing and 

Business Leadership). 

More than 40 top executives and renowned 

marketing academics gathered in Nuremberg 

in response to an invitation by the 

society’s member companies Douglas Holding 

AG and GfK AG. The traditional fireside 

chat on Thursday evening took place at 

Douglas Perfumeries’ flagship store in the 

heart of the city. 

Professor Dr. Helmut Haussmann, businessman 

and former Federal Minister for Economic 

Affairs, opened the evening with a talk on 

the role and position of the center in Germany 

today, looking at the subject from political, 

economic and social points of view. Professor 

Dr. Manfred Kirchgeorg moderated the 

In cooperation with the Institute for Information 

Technology at the University of Leipzig, 

HHL’s Chair of Marketing Management submitted 

an application for a project on Topic 

Maps to the BMBF (Federal Ministry of Education 

and Research). Topic Map technology 

subsequent discussion which also considered 

the effects of the current financial crisis 

on Germany’s economy and society. 

On Friday, the participants met at the IHK Nürnberg 

(Nuremberg’s Chamber of Industry and 

Commerce) to examine the topic in more 

depth. The discussion was launched by two 

insightful addresses, one by Professor Dr. Hermann 

Diller, University of Erlangen-Nuremberg, 

taking an academic view on consumption in 

the center, and one by Wolfgang Twardawa, 

GfK AG, who provided a market research-oriented 

perspective. Professor Dr. Dr. h.c. Klaus 

Backhaus, University of Münster, moderated 

the final plenary discussion. He was supported 

by Dr. Daniel Terberger, KATAG AG, and Ralf 

Klein-Bölting, Deutsche Bahn AG, who reflected 

on their experience in business in their opening 

statements. The Leadership Talk was rounded 

off with a traditional Franconian lunch. 

In addition to enjoying the substantial aspects 

of the event, the society’s members also attended 

to formal matters, agreeing on a new 

corporate design for the tradition-rich institution. 

The redesign was done by the well-known 

Düsseldorf-based design agency Claus Koch 

can be used for data integration and data 

analysis, making the exchange of knowledge 

easier and information more easily accessible. 

HHL’s Chair of Marketing Management 

analyzed the German market in terms of its 

potential and customer requirements for a 

Topic Map product in the future. 

For the analysis, the Chair conducted interviews 

in Norway – leader in the application of 

Topic Map technologies – and ran a survey 

questioning German companies on their 

needs and their current situation with regard 


Professor Dr. Hermann Diller 

and found wide approval. It will soon appear on 

letterheads, notepaper and the all-new website 

at www.wissenschaftliche-gesellschaft.de. 

Gunther Greven 

New market challenges identified – HHL and University of Leipzig 

reach first milestone in Topic Maps project 

to data integration and analysis. As a result, 

the team discovered that there is a significant 

market potential among small and mediumsized 

companies for competitively-priced 

data integration and data analysis technologies. 

A product development and business 

plan will be drawn up based on these results 

if the project is accepted by the BMBF. 

Jenny Müller

Trade show management collaboration – 

Asia Link project a success 

Over a period of 30 months, HHL, the University 

of Antwerp Management School and 

the School of Economics and Management 

of Tongji University have been engaged in intense 

collaboration to advance teaching and 

research in the field of trade show management. 

HHL’s Chair of Marketing Management 

initiated and acquired the project, which received 

Asia Link funding from the European 

Commission. 

Researchers on two continents worked 

closely together to create state-of-the-art 

case studies. New theoretical frameworks for 

successful trade show management were 

developed in the course of numerous project 

Research 27 

meetings held in Germany, Belgium and China 

and were embedded in a comprehensive 

curriculum. Besides the practical output, 

everybody involved in the project gained 

valuable experience of working in cross- 

cultural teams and widened their perspective 

on what it means to bring together different 

research styles and teaching practices on a 

truly international level. Last but not least, a 

tightly-knit network between the universities 

was established that will certainly be of great 

value for future projects and research collaborations. 

Kathrin Jung 

Live communication as value driver in 

recessive times – Uniplan Campus Day 

In response to numerous requests and widespread 

interest, live communication agency 

UNIPLAN ran a second Campus Day in 2008. 

The first, a joint initiative of HHL’s Chair of Marketing 

Management and UNIPLAN, was held 

in spring 2008 in Leipzig, and the second took 

place on November 18, 2008, in UNIPLAN’s 

new Cologne office premises. The Campus 

Day provided a small number of decision- 

makers from academia and business with the 

opportunity to exchange experience and to 

discuss trends and developments in live communication. 

As in spring, the management of 

complex live communication portfolios was 

the focal point of the November event. To- 

gether with Dagobert Hartmann, Director 

Consulting and Research at UNIPLAN, 

Professor Dr. Manfred Kirchgeorg, Chair of 

Marketing Management at HHL, presented 

the results of the study “Live Trends 2008 – 

Live Communication as a value-creating factor 

in marketing”. Further topics included “live 

communication as a driver of value”, “creativity 

as a value-creating factor” and “marketing 

in the period of recession”. 

Part of successful marketing planning, however, 

is the willingness to tread innovative 

paths. Thus the event’s afternoon session 

was entirely dedicated to innovation and creativity 

in marketing. An interactive workshop 

showed creative techniques which are conceivable 

in marketing and how they can result 

in innovative solutions when applied in a 

target-oriented way. 

Beatrice Ermer 


New staff 

Jenny Müller joined HHL’s Chair of Marketing 

Management as a Research Associate 

in October 2008. She graduated from the 

Catholic University Eichstätt-Ingolstadt, 

where she received a Diploma in Business 

Administration with majors in Marketing, 

Statistics and Organizational Psychology. 

During her studies, she gained work experience 

in Marketing, particularly in the 

automotive and retail industries. 

New marketing case 

study book published 

Supplementing the 

renowned marketing 

textbook by 

Meffert/Burmann/ 

Kirchgeorg, which 

is one of the most 

widely-used German 

introductory 

books in the field 

of marketing management, 

the 10 th 

edition of Marketing Arbeitsbuch. Aufgaben 

– Fallstudien – Lösungen was recently published. 

It complements the textbook with 

numerous exercises and case studies with 

sample solutions, and can be used for exam 

preparation. Students can also use the 

exercise book to deepen and test their marketing 

knowledge and to apply theoretical 

knowledge in practice. One of the cases 

contained in the book is the “Beetle Case” 

which was created by HHL’s Chair of Marketing 

Management in cooperation with 

Volkswagen AG.

28 


News from the Academic 

Marketing Association (Akademische 

Marketinggesellschaft e.V.) 

Professor Dr. Manfred Kirchgeorg 

Publications 

Kirchgeorg, M. / Springer, C. 

Zielgruppenorientierte Steuerung der Unternehmenskommunikation 

in: Gröppel-Klein, A./Germelmann, C. C. (Hrsg.), 

Medien im Marketing, 

Optionen der Unternehmenskommunikation, 

Wiesbaden 2008 

Schumacher, M. 

Identifikation und Erklärung der Wirkung von 

Direkt-Kommunikation bei Kunden der Generation 

50plus. Eine Untersuchung am Beispiel von 

Modewerbung im Einzelhandel des gehobenen 

Marktes 

Dissertation, Leipzig 2008 

Kirchgeorg, M. / Dornscheidt, W. / Stoeck, N. 

Trade Show Management – Chinese Edition 

Shanghai 2008 

Kirchgeorg, M. / Greven, G. 

Motivallianzen als Treiber des nachhaltigen 

Konsums 

in: Marketing Review St. Gallen, No. 4, 2008, p. 50-54. 

Burmann, C. / Kirchgeorg, M. / Meffert, H. 

Marketing – Arbeitsbuch 

Wiesbaden 2008 

June 26-29, 2008, the Akademische Marketinggesellschaft 

e.V. held its regular meeting 

and doctoral seminar, organized by the Chair 

of Marketing Management. This year, the 

venue was the Breuninger premises in Stuttgart 

where, besides presentations and 

discussions of current dissertation and 

research topics, a highlight was certainly 

the presentation of the Festschrift on the 

occasion of Professor Dr. Manfred Kirchgeorg’s 

50 th birthday. A presentation was 

also made to Felix Kreutzmüller for the best 

marketing diploma thesis at HHL. 

On July 26, the Akademische Marketinggesellschaft 

e.V. Marketing Prize for the most 

outstanding marketing graduate in 2008 

(worth 500 EUR) was awarded to Alexander 

Knauer at HHL’s graduation ceremony. 

Evelyn Kästner 



“Marketing Strategies of Trade Show Companies” 

International Summer School, University of Cologne 

Cologne, August 25, 2008 

Professor Dr. Manfred Kirchgeorg / Gunther Greven 

/ Beatrice Ermer / Kathrin Jung 

Research conference Marketing Institute for 

Marketing and Retail (HSG) 

St. Gallen, Switzerland, September 11-13, 2008 

Gunther Greven 

“Implications of sustainable consumer behaviour 

research for new product development 

and introduction” and “Climate Change and 

Resilience Management: Preparing Societal 

Institutions for Discontinuous Climate Change 

Impacts” 

14th Annual International Sustainable Development 

Research Conference 

New Delhi, India, September 21-23, 2008 


“CSR – Die Dimension Ökologie: Vom Umweltvorteil 

zum Wettbewerbsvorteil“ 

Forum impulse for Corporate Social Responsibility 

in Mitteldeutschland 2008 



Now available! 

Chinese edition of 

Trade Show Man- 

agement handbook 

It may look different 

but the content 

is the same: 

a Chinese-lan- 

guage version of 

“Trade Show Management” 

was 

launched in China 

in August 2008. 

Professor Dr. Man- 

fred Kirchgeorg 

and his three co-editors had already pub- 

lished the handbook, which comprises over 80 

articles by experts, managers and researchers 

in the field of trade show management, in German 

and English in 2005, but the new edition 

now makes the unique work available to Chinese 

readers as well. The book is published 

by the well-known Shanghai University of Finance 

and Economics Press. 


Workshop “Research in Clustermanagement” 

1. Deutsche Clusterkonferenz 

Leipzig, October 20-21, 2008 


Dr. Christiane Springer 

1. GEM-Forum “Neuroökonomie und Markenführung” 

Münster, November 18, 2008 


Microeconomics of Competitiveness 

Workshop at Harvard Business School 

Boston, USA, December 9-10, 2008


Research conference on marketing at the University of St. Gallen 

September 11-13, researchers from German 

and Swiss universities gathered at the University 

of St. Gallen (HSG), Switzerland, in response 

to an invitation from the Institute for 

Marketing and Retailing. Over the three days 

of the conference on marketing research, the 

participants discussed studies in the fields of 

branding, service, consumer and decision behavior, 

sales and innovation. 

Chair of Microeconomics 

The conference was opened by Professor Dr. 

Sven Reinecke and Professor Dr. Marcus 

Schögel from the Institute for Marketing and 

Retailing at the HSG. Following the presentations 

and discussions in the morning and early 

afternoon, the late afternoon program of- 

fered participants the opportunity to visit a 

traditional Swiss chocolate factory. As well as 

seeing how chocolate bars are made, the visi- 


29 

tors were able to find out about the latest 

trends in the confectionary industry and to 

discuss future marketing concepts with the 

company’s CFO. 

The conference ended with an agreement to 

hold the next annual meeting in Berlin. 

Beatrice Ermer 

Professor Arnis Vilks joins Board of WCGE 

In July 2008, Professor Dr. Arnis Vilks joined 

the Management Board of the Wittenberg 

Center for Global Ethics (WCGE), which is 

chaired by Professor Dr. Andreas Suchanek, 

Dow Research Professor for Sustainability 

and Global Ethics at HHL. 

The Wittenberg Center for Global Ethics was 

founded in 1998 at the initiative of Andrew 

Young, former US Ambassador to the United 


Professor Dr. Arnis Vilks 

“Kripke’s Wittgenstein, Rules and Rationality” 

Conference “Logic of Change, Change of 

Logic” 

University of Prague 

Prague, Czech Republic, 

September 10-14, 2008 

Nations, and Hans-Dietrich Genscher, former 

German Foreign Minister, with the purpose 

of organizing dialogs, reflection and inter- 

disciplinary research on ethical principles for 

the emerging global society. For instance, a 

joint Israeli-Jordanian Forum on Economic 

Cooperation initiated by the Amman Center 

for Peace and Development, and the Peres 

Center for Peace took place for the sixth time 

this year at the WCGE. 

Martina Wuttke 

“Global Poverty Alleviation: Contribution of Corporate 

Citizenship as integral part of corporate 

strategy” 

Conference “Market-based Poverty Alleviation: 

Corporations as agents of development” 

Martin Luther University Halle-Wittenberg 

Wittenberg, September 29-October 1, 2008 

Personalities from politics, business, academia 

and the churches as well as many 

German and international corporations and 

organizations support the mission of the 

Wittenberg Center. Recently, a foundation 

to support WCGE was established and 

endowed with initial capital by BASF, 

Commerzbank, Deutsche Bank, EWE, K+S, 

Robert Bosch, RWE, and VNG. 


Martina Wuttke 

Development through Innovative Business 

Models 

Federal Ministry of Economic Cooperation and 

Development (BMZ) 

Berlin, September 18, 2008 

Get to know HHL 

at the Information Day on May 8, 2009 

Information & registration: 

www.hhl.de/infoday

30 


Chair of Strategic Management and Organization 

Program for International Entrepreneurship 

Publications 

Wulf, Torsten / Stubner, Stephan 

Executive Departure following Acquisitions in 

Germany - An empirical analysis of its antecedents 

and consequences 

HHL working paper No. 84 



Übergabe der Führungsrolle in Familienunternehmen 

- Ansatzpunkte einer erfolgreichen 

Gestaltung der Nachfolge 




Executive succession and firm performance 

- the role of position-specific skills 



Wulf, Torsten / Stubner, Stephan / Landau, Christian 

/ Gietl, Robert / Auras, Jan 

Private Equity and Family Owned Businesses 

- Can Private Equity Investors add to the Success 

of formerly owned Family Firms? 



Wulf, Torsten / Stubner, Stephan / Miksche, 

Jutta / Roleder, Kati 

Performance consequences of CEO succession 

- the effect of succession type and 

post-succession senior management turnover 

in German corporations 



Wulf, Torsten / Stubner, Stephan / Blarr, W. Henning 

Erklärungsansätze für den Diversifikationserfolg 



Munkert, Michael J. / Stubner, Stephan / Wulf, 

Torsten 

Founding a company - Handbook of legal 

forms in Europe 

Springer 

Heidelberg 2008 

Wulf, Torsten / Stubner, Stephan / Miksche, Jutta / 

Blarr, W. Henning 

Fireno - HHL Case Study 


Wulf, Torsten / Blarr, W. Henning 

Billigflieger.de - HHL Case Study 

Monaco 2008 


Professor Dr. Torsten Wulf 

“Langfristplanung als Forschungsfeld – Ergebnisse 

einer Impulsstudie in Kooperation 

zwischen Roland Berger Strategy Consultants 

und der Handelshochschule Leipzig” 

Annual Meeting of Roland Berger Academic 

Network 

Leipzig, June 21, 2008 

Professor Dr. Torsten Wulf / Dr. Stephan Stubner 

“Executive succession and firm performance 

– the role of position-specific skills” 

Annual International Conference of the Strategic 

Management Society 

Cologne, October 13, 2008 


“Management of diversified companies - Current 

management thinking and possible future 

directions” 

HHL Alumni Homecoming 



“Succession in Family Businesses – Development 

of an integrated analysis model” 

Annual meeting of Forum der deutschen Mittelstandsforschung 

Frankfurt/Main, October 31, 2008 


“Succession in Family Businesses – relevance 

in Eastern Germany and analysis of typical 

problems” 

HHL Unternehmergespräche 2008 

Leipzig, November 26, 2008 

Unternehmer-Stammtisch revival 

On August 21, we revived HHL’s traditional 

entrepreneurs’ meeting. We met at the imedo.de 

office in Berlin as guests of Christian 

Angele (K20) and spent a whole day discussing 

interesting and challenging topics. The 

participants included HHL entrepreneurs (recent 

start-ups, longer-standing start-ups, 

and family businesses) and Professor Dr. 

Torsten Wulf and Dr. Stephan Stubner. After 

a brief update on HHL from Professor Wulf 

and an introduction to the new Entrepreneurship 

Program, the rest of the day focused on 

business issues entrepreneurs have. In the 

evening, we invited Jörg Rheinboldt, co- 



W. Henning Blarr 

ECCH Case Method Workshop 

Monaco, June 7-9, 2008 

Dr. Stephan Stubner 

Invited Junior Faculty Workshop, Business 

Policy and Strategy Division, Academy of 

Management 2008 Annual Meeting 

Anaheim, USA, August 8-13, 2008 


Alphazirkel: Forum for family business, 

Quarterly Meeting 

Munich, October 9, 2008 


Junior Faculty invited paper development 

workshop, Annual International Conference of 

the Strategic Management Society 

Cologne, October 11, 2008 


Paper development workshop with Professor 

Anne Huff, University of Erlangen-Nuremberg/AIM 

Advanced Institute of Management 


Nuremberg, October 30, 2008 


Roland Berger Academic Network “Consulting 

meets Academia” 

Munich, November 21, 2008 

founder of eBay Germany and now a successful 

serial entrepreneur and investor, to 

talk about the Entrepreneurs’ Organization, 

a worldwide community of entrepreneurs. 

Thanks go to him, and also to Julia Derndinger 

for her initiative in organizing the event. 

Feedback from all sides was very positive, so 

we agreed to continue the Unternehmer- 

Stammtisch on a regular basis. The next 

meeting will be in Düsseldorf at the office of 

trivago.de (Rolf Schrömgens, Malte Siewert, 

Peter Vinnemeier) on January 13, 2009. 

Dr. Stephan Stubner

Chair of Information Systems 

New staff 

In November 2008, Dr. Luigi Senatore joined 

HHL’s Chair of Economics and Information 

Systems as a Research Associate to Professor 

Pierfrancesco La Mura, PhD. Dr. Senatore 

graduated from the University of Siena with an 

MSc in Economics and earned a PhD at the 

University of Salerno in 2005. During his doctoral 

studies, he gained broad experience in 

teaching economic courses to undergraduate 

students. In the same period, he attended advanced 

economics courses at the London 


School of Economics, the Catholic University 

of Louvain and the University of Essex. From 

2006 to 2007, he was a Teaching Assistant in 

the Department of Economics at the University 

of Leicester. However, Dr. Senatore’s working 

experience is not restricted to academia – in 

2005 he planned and organized an incubator 

center in micro and nano technologies. His 

current research inter-ests lie in the areas of 

microeconomic theory, game theory and institutional 

economics. 

MBA field project “Future-oriented laboratory information system” 

Between February and July 2008, the Chair 

of Economics and Information Systems together 

with a group of six MBA students (M8) 

conducted a field project for Labor Dr. Reising-Ackermann 

und Partner, a medium-sized 

company offering medical diagnostic services. 

Running eight modern laboratories in 

Saxony and Thuringia, Labor Dr. Reising- 

Ackermann und Partner provides a wide 

range of medical diagnostic tests to more than 

40 hospitals and nearly one thousand physicians 

across Central Germany. Operating in a 


Professor Pierfrancesco La Mura, PhD 

Markovian Entanglement Networks 

University of Salerno 

Salerno, Italy, October 1, 2008 

highly competitive market Labor Dr. Reising- 

Ackermann und Partner maintains a continuous 

process of improvements in order to 

provide its customers with high-quality and 

cost-efficient services. IT Laboratory Information 

Systems (LIS) were identified as the 

field with most improvement potential, and 

the team of HHL students was requested to 

support the project partner in selecting a future-oriented 

LIS. The realization of the project 

was divided into two parts. In the first 

part, limitations imposed by the current LIS 

Professor Pierfrancesco La Mura, PhD 

Projective Expected Utility 

ESI-EVO-EVA-HHL Workshop 

Jena, October 7, 2008 

Ekaterina Demidova 

Group Bargaining under Incomplete Information 

ESI-EVO-EVA-HHL Workshop 

Jena, October 7, 2008 

Sparkassen-Finanzgruppe Chair of Macroeconomics 


Oliver Hoßfeld 

Equilibrium Real Exchange Rates and Real 

Exchange Rate Misalignments: Time Series vs. 

Panel Estimates 


31 

were identified and investigated, while the 

second part analyzed the market for LIS vendors 

and its future trends. Based on the findings 

of these two stages, the project group 

developed a set of realistic and realizable recommendations 

for use in selecting a suitable 

LIS. Working on the project turned out to 

be a stimulating experience for both the project 

partner and the students. In particular, 

the team proved fully capable of successfully 

conducting a real-life project which furnished 

the client with a high-quality product. 

Publications 

André Casajus 

The Shapley value, the Owen value, and the 

veil of ignorance 

in: International Game Theory Review, October 

2008 

Macroeconometric Workshop, DIW Berlin 

Berlin, November 28-29, 2008

32 


Heinz Nixdorf Chair of IT-based Logistics 

House of quality 

From left to right: Alexander Kutscher and Jürgen Ortlepp 

On August 25, 2008, as part of the Production 

Management course at the Heinz 

Nixdorf Chair of IT-based Logistics, HHL’s 

MBA students had the opportunity to learn 

more about the challenges facing today’s 

prosperous and competitive logistics service 

providers. Alexander Kutscher from 

Infraserv Logistics Leipzig GmbH, a sub- 

sidiary of the highly successful Frankfurt- 

As part of the lecture series Foundations in 

Management – Sub-module Marketing & Logistics 

Management – students had the opportunity 

to gain interesting insights into the 

motivation, requirements, processes and ex- 

based Infraserv Logistics GmbH, and his 

colleague Jürgen Ortlepp gave an impressive 

presentation on the range and scale of 

the challenges involved in identifying and 

complying with quality criteria along the 

value creation chain. 

Kutscher and Ortlepp began by introducing 

the concept of the “House of Quality” as 

perience of setting up DHL Hub Leipzig 

GmbH. It was therefore a great pleasure for 

the organizers at HHL to welcome Michael 

Reinboth, CEO of DHL Hub Leipzig GmbH, 

as a guest speaker on September 18, 2008. 

During his presentation, Mr. Reinboth 

described in detail the process 

of setting up DHL in the 

Leipzig/Halle region, from the 

very beginning in 2005 to the 

commencement of full operations 

in 2008. He pointed out that less 

than three years elapsed between 

planning and realization, a phenomenal 

achievement for everybody 

involved in the gigantic 

project. As Mr. Reinboth was on 

board right from the start, he was 

able to illustrate very vividly the 

special challenges facing the 


one basic element in “Quality Function 

Deployment (QFD)”, a well-known quality 

management technique. They then started 

to construct a “House of Quality” with the 

students, taking into account customer requirements 

that had been identified. 

The event was rounded off with a workshop 

in which the students were faced as 

design engineers with the challenge of developing 

a seat for a luxury car fulfilling all 

customer requirements. 

Following the lecture and workshop, the 

speakers were available to answer the numerous 

questions the students had. The 

guest lecture by Infraserv Logistics Leipzig 

GmbH underlined once again the highly 

practical orientation of education at HHL. 

Further presentations by practitioners will 

follow in the near future in the framework of 

the Production Management course. 

Relocation of DHL to the Leipzig/Halle region 

Guest lecture by Michael Reinboth 

DHL Hub Leipzig GmbH and him personally 

as the project leader. He also pointed out 

the opportunities opened up for the region 

by this investment – the creation of more 

than 2000 new jobs is just one impressive 

example – and looked at the future of DHL 

in the region. 

After his presentation, Mr. Reinboth was happy 

to talk with the students and answer their 

questions. The tour of the hub on September 

22, which he personally guided, capped off 

the class, and brought home the magnitude 

of the project team’s achievement. 

The cooperation between DHL and HHL will 

be of great interest in the future for both the 

Heinz Nixdorf Chair of IT-based Logistics and 

CITLOG, connecting theory with practical experience.


Project day at HHL – Logistics is not for the lazy ... 

As part of their career planning, 50 highly 

talented high-school students from Saxony, 

Saxony-Anhalt and Thuringia visited HHL 

Roadmap for a successful continuous improvement program 

On November 21, 2008, as part of the 

course “Production Management” at the 

Heinz Nixdorf Chair of IT-based Logistics, 

HHL’s MBA, Diploma and exchange students 

had the opportunity to gain some 

valuable insights into the Lean Six Sigma 

Concept, the DMAIC methodology component 

of Six Sigma, and to find out about 

project management essentials from a 

practical point of view. Dr. Hans Bohnen 

and other representatives from Booz & 

Company gave striking demonstrations of 

the challenges and difficulties involved in 

analyzing and improving complex processes 

by using (process) standardization. The 

theory was illustrated with some interesting 

examples from their daily activities as consultants. 

Improving procurement with a shared service center in Romania 

From left to right: Michael Czok and Jörn Stelzner 

in September 2008. The project day was 

organized and supported by Jugend Aktiv 

Mitteldeutschland e.V.. In addition to finding 

out about the programs offered at HHL, the 

17 to 18-year-olds were introduced to the 

subject of logistics. The basis was provided 

in a lecture by Professor Dr. Iris Hausladen, 

Heinz Nixdorf Chair of IT-based Logistics, 

entitled “Intelligent logistics concepts, or 

how does the product arrive at the customer 

on time?”, a business game followed 

during which the visitors learned to optimize 

production and material flows by folding 

paper boats. 

Professor Hausladen pointed out the importance 

of Central Germany as a logistics 

location and that, as a consequence, the 

On November 25, 2008, as part 

of the “Production Management” 

course at the Heinz Nixdorf Chair 

of IT-based Logistics, HHL’s 

MBA, Diploma and exchange 

students were given some background 

information about the decision-making 

process within an 

outsourcing project in a mediumsized 

company. Michael Czok 

(Managing Director) and Jörn 

Stelzner (Corporate Vice Presi- 


Representatives of Booz & Company at HHL 

33 

demand for skilled workers in this field would 

increase significantly. In addition to voca- 

tional qualifications, the academic education 

of logistics professionals should therefore 

also be developed. 

Logistics studies at HHL fulfill this educa- 

tional mission through their orientation towards 

practical experience from the very first day, 

and this in turn means that graduates are in 

a strong position to meet the challenges 

raised by regional, national and international 

developments in the field of sustainable logis- 

tics and supply chain management. The 

permanent theory-practice transfer is a central 

focus, particularly in logistics as a traditionally 

cross-divisional function which is 

nowadays predominantly IT-based. 

dent & General Manager) from Freudenberg 

& Co. KG gave an impressive demonstration 

of the challenges and difficulties involved in 

the process of establishing a completely new 

Shared Service Center for procurement and 

bookkeeping in Romania. The main message 

was that in such a case, decisions are not 

based on business calculations alone but 

that cultural aspects must also be consid- 

ered. If not, such projects may fail even 

though the financial benefits appeared excellent 

at the outset. 

HHL spreadshop is online! 

Our merchandise reflects HHL’s identity as a high-profile 

educational institution, combining elements of tradition with a modern look and feel. 

www.hhl-shop.spreadshirt.net

34 


“Lekker Logistiek doen in Leipzig” 

Group of Dutch and German logistics experts at HHL 

“Network Logistics Leipzig/Halle” was established 

as a registered association (e.V.) on 

September 11, 2008, with approximately 

twenty founder members, among them the 

City of Leipzig, the IHK zu Leipzig (Leipzig 

Chamber of Industry and Commerce), the 

Leipzig/Halle Airport GmbH and DHL. The 

majority of the members are, however, local 

small and medium-sized enterprises. The 

aim of the network is to promote Leipzig/Halle 

as a logistics center and to improve both 

Publications 

Hausladen, Iris 

Forschung am Puls der Praxis, “IT trifft Logistik” 

an der Handelshochschule Leipzig (HHL) 

in: VDI Ingenieur-Nachrichten 3/2008, p. 8 

Hausladen, Iris / Porzig, Nicole / Santel, Hauke 

Logistik-Weiterbildungsbedarf der Wirtschaft 

im Raum Leipzig 

Working paper, CITLOG 


Professor Dr. Iris Hausladen 

“IT-based Logistics – Concepts and Instruments 

for an Efficient Value Creation Management” 

Round Table “IT and Logistics” 



“Intelligente Logistikkonzepte oder wie kommt 

das Produkt pünktlich zum Kunden?” 

HHL workshop 

“Jugend Aktiv Mitteldeutschland” 


general conditions and perspectives 

for local logistics businesses. 

To achieve these goals, “Network 

Logistics Leipzig/Halle” cooperates 

with other logistics regions in 

Europe, for example in the Netherlands, 

which has one of the 

most dynamic logistics markets in 

the world. In this context, the network 

recently welcomed a delegation 

of fifteen Dutch companies 

representing different logistics and 

sub-contracting industries. The 

delegation’s visit was supported 

by the Netherlands Agency for International 

Business and Cooperation 

(EVD), the Brabant Chamber 

of Commerce, and the Netherlands Embassy 

in Germany. 

A special highlight was the round-table discussion 

at HHL as well as the joint visit to the 

laboratories of the Information Systems Institute 

at the University of Leipzig. Dutch and 

German logistics experts used this opportunity 

to exchange experiences in the field of IT 

and logistics. Professor Dr. Iris Hausladen 

(Heinz Nixdorf Chair of IT-based Logistics at 


“IT-gestützte Logistik – 

Chancen im Mittelstand” 

Mittelständischer Unternehmertag 2008 



“IT-based Logistics – Concepts and Instruments 

for an Efficient Value Creation Management” 

Alumni Homecoming HHL 




Impulse und Belastungen der Logistik-Branche 

für die Stadt- und Regionalentwicklung 

Leipzig, August 14, 2008 

Hauke Santel 

Lübecker Symposium “Best Hospital 2015” 

Berlin, September 1, 2008 


HHL) and Professor Dr. Bogdan Franczyk 

(Chair of Information Management at the 

University of Leipzig) presented their research 

on IT-application adoption in the logistics 

business. The Center for IT-based Logistics 

Leipzig (CITLOG), sponsored by the Leipzig 

Foundation for Innovation and Technology 

Transfer, and the Logistics Service Bus (LSB) 

were also presented. 

The Dutch visit coincided with the grand 

opening of the Netherlands Business Support 

Office (NBSO) in Leipzig which assists 

Dutch companies looking to establish trade 

relations. The Netherlands maintains over 

twenty NBSOs worldwide; the office in Leipzig 

is the second NBSO opened in Germany 

after Stuttgart. 

Contact: 


E-Mail: iris.hausladen@hhl.de 

Nicole Porzig 

5. BMBF-Forum für Nachhaltigkeit/ 

12. European Round Table on Sustainable 

Consumption and Production 

Berlin, September 23-25, 2008 


Netzwerkempfang des Netzwerk Logistik 

Leipzig/Halle e.V. 



Mittelständischer Unternehmertag 2008 


Hauke Santel 

Leipziger Forum Gesundheitswirtschaft 


Nicole Porzig 

1. Deutsche Clusterkonferenz 

Leipzig, October 20-21, 2008

Doctoral degrees 

awarded by HHL 

September 2008: Marc Schumacher 

Identifikation und Erklärung der Wirkung von 

Direkt-Kommunikation bei Kunden der Generation 

50plus – Eine Untersuchung am Beispiel von 

Modewerbung im Einzelhandel des gehobenen 

Marktes 


September 2008: Elmar Michael Günther 

Klimawandel und Resilience Management – Interdisziplinäre 

Konzeption eines entscheidungsorientierten 

Ansatzes unter besonderer Berücksichtigung 

der Resilience- und Klimawandeladaptionsforschung 


Ein Geländewagen ohne Dreck 

ist wie ein Mann ohne Narben. 

Der neue Cayenne S Transsyberia. 

Narben muß man sich verdienen: Das Wettbewerbsfahrzeug 

errang bei der Transsyberia Rallye 2008 einen Sechsfachsieg. 

Porsche empfiehlt 

Research 35 

October 2008: Ronny Gebhardt 

Abbildung von Leasingverhältnissen in der 

internationalen Rechnungslegung – Eine Analyse 

propagierter Neuregelungen auf konzeptionelle 

Begründbarkeit 

Chair of Accounting and Auditing 

dummy_180x136_narben 02.12.2008 13:34 Uhr Seite 1 

November 2008: Markus Wolf 

Business Angels, Startups und Vertrauen – Eine 

theoretische Betrachtung aus interaktionsökonomischer 

Perspektive 

Dow Professorship of Sustainability and Global 

Ethics 


Hier erfahren Sie mehr – www.porsche.de oder Telefon 01805 356 - 911, Fax - 912 (EUR 0,14/min). 

Kraftstoffverbrauch l/100 km: innerstädtisch 20,2 · außerstädtisch 10,1 · insgesamt 13,7 · CO 2 -Emission: 329 g/km 

December 2008: Torsten Briegel 

Einrichtung und Ausgestaltung unternehmensinterner 

Whistleblowing-Systeme: Eine ökonomische 

Analyse 


Ethics 

December 2008: Nick Lin-Hi 

Eine Theorie der Unternehmensverantwortung 


Ethics 

December 2008: Christine Mutz 

Pollution Havens – Empirical Evidence for Germany 

Sparkassen-Finanzgruppe Chair of Macroeconomics 

02.12.2008 Operator: 

Burkard 

1. Proof / Daten: 



Die Bilderstürmer GmbH & Co KG • Otto-Hahn-Strasse 58 • Fon: 0 61 03 - 58 49 0 • Fax: 0 61 03 - 58 49 27 • ISDN: 0 61 03 - 93 63 60 

Interne Jobnummer: 45929 Format: 180x136 Motiv: Narben 

Kunde: Küster Werbeträger: HHL News 

Sujet-Nr:

36 

Studies 

P3 Global Immersion Trip to Shanghai 

HHL and the Euro*MBA 

As a full member of the Euro*MBA consortium, 

HHL participates in the program’s board meetings. 

This annual event took place at the IAE, 

Aix en Provence, in September 2008. Professor 

Dr. Hans Wiesmeth is a member of the 

Board for the program, Frank Hoffmann is 

HHL’s Academic Director for the Euro*MBA 

and Volker Stößel is a member of the program’s 

Marketing Board. All three had very intensive 

sessions with discussions about the future de- 

Interview 

HHL’s doctoral program – 

a success story 

Established in 1996, HHL’s doctoral program 

has produced 68 graduates so far 

and, with 81 candidates currently enrolled, it 

is growing fast. In an interview, Christina Ravens-Hobbach 

(35) tells HHL news about 

her work-life balance, her dissertation project 

and the doctoral courses at HHL. 

In late September 2008, at the end of our twoyear 

part-time MBA program, the Global Immersion 

Seminar took us to Shanghai, China, for 

one week. On the day of our arrival in Shanghai, 

we performed our own group presentations as a 

perfect preparation for the entire week: we received 

insights into industries and the markets of 

the companies we would visit in the following 

days. These included Shanghai Pudong International 

Airport Cargo Terminal Co., Ltd. 

(PACTL), The Shanghai New International Expo 

Centre, Roland Berger Strategy Consultants, 

Volkswagen Shanghai, the German Centre and 

Krupp Stainless. At all of them, we were 

velopment of the Euro*MBA. HHL is respon- 

sible for two distance learning modules in 2009 

and will host a residential week in 2010. Professor 

Pierfrancesco La Mura, PhD, who will design 

HHL’s online course on Managerial Econom- 

ics, and Matthias Tischner, Research Asso- 

ciate at the WestLB Chair of Finance, received 

first impressions about the outstanding quality 

of the students from around the world, all of 

whom have significant professional experience 

HHL news: Mrs. Ravens, how do you manage 

to care for your new-born baby and at 

the same time write your dissertation? 

Mrs. Ravens: For one, I can rely on a great 

day-care center. The months spent looking 

at different places a long time before our 

son was born, is probably one of the best 

investments we have made recently. Secondly, 

my husband is very supportive. 

Last but not least, I changed jobs from running 

a licensing department with a huge 

focus on sales to a brand management position 

at Mercedes-Benz. This reduced my 

time away on business travel significantly. 

HHL news: What is your dissertation about? 

Mrs. Ravens: I’m working on the effectiveness 

of internal brand management instruments accounting 

for cultural differences. My research is 

being supervised by Professor Dr. Manfred 

Kirchgeorg, Chair of Marketing Management. 


repeatedly confronted by the issues we were 

discussing so vigorously: What is the secret of 

the impressive Chinese growth? How can competitive 

advantages be maintained for German 

joint venture partners? How to protect technological 

know-how? In addition, two lectures by 

professors from Tongji University Shanghai and 

China Europe International Business School 

(CEIBS), gave us very interesting insights into 

Chinese psychology and thinking. Besides our 

official program, we of course made the most of 

the unique city and its culture. 

Dirk Sühnel (P3) 

at managerial level. All six partners in the consortium 

have at least one international ac- 

creditation (AACSB and/or EQUIS). The program 

itself is AMBA accredited and was ranked 

#5 in the world for distance education by The 

Economist in October 2007. 

Frank Hoffmann 

HHL news: Which courses in the doctoral 

program have you attended so far? How 

did you like them? 

Mrs. Ravens: During my first term, I took 

courses in Economic Analysis and Management 

Research. During my second 

term I signed up for courses which could 

bridge those aspects of my research that 

I am not as confident about as I should 

probably be, e.g. multivariate data analysis 

skills. All in all, the program provides external 

doctoral candidates with a great opportunity 

to gain access to the HHL community, 

share experiences, and network.

Studies 

5 th part-time MBA class (P5) with international flair 

A new, stimulating spirit arrived on HHL’s 

campus on November 14, 2008, as the fifth 

class of HHL’s part-time MBA program 

kicked off to a flying start. This group of exceptional 

individuals consists of high-potentials 

from very diverse backgrounds, both in 

terms of nationality and profession. Together 

they create an interdisciplinary environment 

which facilitates learning on several levels, 

New and unique courses in HHL’s MBA programs 

Full-time MBA: 

Social Networking 

According to a recent MIT Sloan Management 

Review article, what really distinguishes high 

performers from the rest is their ability to 

maintain and leverage large, diversified social 

networks that are rich in experience and span 

all organizational boundaries. 

That’s why HHL offers its full-time MBA students 

“Social Networking”, a unique course 

taught by Professor Christopher R. Tunnard 

(Fletcher School, Tufts University, USA). 

The course is designed especially to introduce 

students to both the basic concepts and the 

analysis of social networks. Students examine 

their own social and professional networks 

and draw conclusions about how to use them, 

for example, when searching for jobs. Furthermore, 

they learn techniques that managers 

can use to recognize and tap into social net- 

preparing the students ideally for professional 

challenges to come. 

The large variety of degrees held by the 

members of P5 ranges from the humanities, 

languages, media and law through to economics, 

science and medicine, and is reflected 

in the wide spectrum of positions 

held by the students in their companies, in- 

works and understand enabling technologies 

and their impact on network formation. 

http://crtunnard.blogspot.com 

“An excellent professor, great group 

work and very valuable insights into a 

rising hot topic. This course enriched my 

personal skills. I highly recommend it.” 

Kerwin-Ryan Marquez 

(USA/Germany), M9 

Part-time MBA: 

Family-owned businesses 

No other form of business organization is as 

common in Germany as the family-owned 


37 

evitably shaping their management skills in 

very different ways. Among the corporations 

employing our part-time students are AWD, 

eBay, EnBW, Infineon Technologies, JEN- 

OPTIK, Q-Cells, Siemens, Schaeffler and local 

companies, like Stadtwerke Leipzig. Other 

students are self-employed, and three already 

hold a PhD. The combination of theory and 

practice at HHL attracts highly motivated and 

committed students from all over the world, 

and this year’s intake is no different – nine 

out of the 28 are from outside Germany, 

coming from Argentina, Egypt, Colombia, Italy, 

Kazakhstan, the USA and China. 

The multinational atmosphere and the cosmopolitan 

make-up of the group enrich each 

student’s education and, indeed, life. Against 

this background, it is obvious why ambitious 

professionals choose HHL: they see it as an 

ideal place to get to know other proficient and 

dedicated people and also to acquire knowledge 

and skills that they can profit from for 

many years to come. 


business. Contributing 53 % of the gross val- 

ue added of all enterprises and providing 68 % 

of all jobs in Germany, family-owned companies 

are the backbone of the German economy. 

HHL’s part-time MBA program features a 

special course focusing specifically on this 

type of company. Through a combination of 

lectures, guest speakers such as Dr. Georg 

Prinz zur Lippe (Weingut Schloss Proschwitz), 

discussions and case studies, the course 

presents selected theories, practice, management 

concepts and tools relevant to family-owned 

businesses operating in different 

local, regional and global environments, and 

enables the students to integrate their knowledge 

into the international management of 

family-owned businesses. 


News about the latest events, research projects, 

and new developments at HHL 

www.hhl.de/news

38 

HHL’s entrepreneurs 

HHL news: You and your venture SunCoal 

Industries recently won the start-up competition 

run by the business magazine WirtschaftsWoche. 

What is so promising about 

your business model? 

Friedrich von Ploetz: SunCoal revolutionizes 

biomass-based renewable energy with 

its CarboREN process. It transforms heterogeneous 

waste biomass into homogeneous 

green coal that can be used in existing infrastructures 

for heat and power generation; in 

its liquid state, it is a renewable synthetic fuel. 

SunCoal improves energy security, reduces 

CO 2 emissions and creates jobs in structurally 

weak regions while being economically 

sustainable. Our company’s business model 

is designed in such a way that it exploits synergies 

between existing biomass-based 

technologies, such as biogas, and current 

users of coal, such as municipal utilities. 

HHL news: Unlike many other start-ups nowadays, 

your business is rather “old economy”. 

How did you develop your idea? 

Friedrich von Ploetz: The foundations of our 

business idea were developed at the begin- 

Brief news on HHL’s entrepreneurs 

New start-ups 

Team Europe Ventures: Lukasz Gadowski (K12), 

founder of spreadshirt.com and investor in more 

than 50 other start-ups, including several from HHL, 

has now set up another business of his own. Actually, 

it is more that he is giving his many activities a 

new institutional form, as he plans to channel his 

investments via the venture capital fi rm Team Europe 

Ventures. 

Playnik.com: Malte Paul (K10) started browserbased 

gaming portal playnik.com. Only on the 

market a few months, Malte has already laid down 

an impressive track record as can be seen from 

the awards and press coverage he has already received. 

Talos Management Consultants: Philipp Tenbieg 

(M3) recently started his own consultancy in Zurich. 

After years spent working for reputable large consulting 

fi rms, he and his co-founders now offer specialized 

advisory services for the fi nancial industry. 

LTLprints.com: Carsten Petzold (K15) just started 

another company after his successful CPVenture 

Entrepreneurship 

ning of the 20th century by Nobel laureate 

Friedrich Bergius. But only in the last few years, 

with soaring energy prices and increasing 

awareness of global climate change, has it 

started making sense to scale up the process 

to an industrial level. SunCoal with its Carbo- 

REN process has developed an economically 

viable way of doing this. 

HHL news: With more than 60 successful 

start-ups, HHL has made a name for itself 

as an academy for entrepreneurs. How do 

you benefi t from this network? 

Friedrich von Ploetz: It is great to meet 

other HHL alumni in a professional context 

as you share a common experience, and 

that engenders trust. This happens all the 

time, e.g. during fi nancing talks with VCs or 

at entrepreneur development programs 

such as the Accelerator Program of the 

Entrepreneurs’ Organization. 

Consultants. With LTLprints.com, he is entering the 

market with a new customized printing solutions 

company. 

Augenzentrum Fankhauser AG: Franz Fankhauser 

(P2) plans to develop and run eye-care centers. With 

his background as a qualifi ed physician and graduate 

of HHL’s MBA program, he has been building this 

business successfully since 2005. 

Toshina Art Gallery: Another start-up from HHL, 

and this time in an area where we have not been 

active before: Toshina Art Gallery is our fi rst foray 

into the art world. Nico Mateew (K7) opened the gallery 

in Leipzig this summer. 

HHL start-ups dominate Venture Lounge: At the 

September Venture Lounge “Web 2.0, IPTV, Mobile 

& Games” in Berlin, a competition was held to fi nd 

the leading German start-ups in these fi elds. Out of 

the three winners, two come from HHL: Playnik, 

started by Malte Paul, won the gold medal, while Mr. 

Spex, Dirk Graber’s (K15) online optician, came in 

third. Besides the huge publicity within the start-up 

and venture capital community, this achievement 

secured the winners access to the venture lounge 


Interview with Friedrich von Ploetz (K11), 

co-founder of SunCoal Industries 

SunCoal Industries is a successful business 

founded by Friedrich von Ploetz in 

Königs Wusterhausen (Brandenburg). The 

company develops and operates biomass-to-coal 

plants, and sells SunCoal, a 

fuel product derived from waste biomass. 

SunCoal is a CO 2-neutral substitute for 

fossil coal for heating and power generation 

without the need to retrofi t the existing 

infrastructure; it can also be used as a homogeneous 

input for chemical purposes, 

e.g. in the production of synthetic biofuels. 

network which includes access to capital, networking 

and press agencies. Another representative from 

HHL to make it into the top 10 was trivago, the hotelcomparison 

portal set up by Rolf Schrömgens (K5), 

Malte Siewert (K6) and Peter Vinnemeier (K5). 

trivago: The online consumer travel site was recently 

re-launched with new functions and a new 

design. Aside from adding an intuitively navigable 

world map, trivago has optimized its free-style hotel 

search. Users are now able to fi nd the best hotel 

deals by typing in a region or country in the search 

box, in addition to searching by hotel name or city. 

Also, the website now brings together over 3 million 

hotel reviews: trivago calculates a hotel’s overall 

rating by combining the reviews of booking 

partners such as Expedia, booking.com and HRS, 

and its own 190 000 reviews. These new functions 

allow trivago to offer a more comprehensive service 

to help the customer’s decision-making process. 

With the recent launch of a Russian and 

Dutch platform the company further advanced its 

internationalization process.

Entrepreneurship 

HHL news presents a selection of HHL’s young entrepreneurs and asks them: 

A) What was the best piece of advice you ever received? or 

B) What is the biggest challenge in your job? or 

C) How has your experience at HHL helped you starting up and running your business? 

VerkehrsmittelVergleich.de 

VerkehrsmittelVergleich.de is a search engine that helps to fi nd the fastest and cheapest 

connection between two cities, comparing and combining all relevant means of transportation 

such as train, plane, car, bus etc. 

www.verkehrsmittelvergleich.de 

B: Our biggest challenge has been to fi nd smart people. 

VerkehrsmittelVergleich.de GmbH, Johannes Grassmann (K13) 

TALOS Management Consultants offer 

fi nancial service institutions management 

advisory services in the areas of: 

• Supply Management 

• Business Transformation Management 

• Strategic IT Management 

www.talos-consulting.ch 

B: Founding yet another management 

advisory boutique may seem ambitious. 

Focusing its services exclusively on the 

fi nancial sector right in the middle of the 

fi nancial market crisis is a challenge. 

And an opportunity if you offer anticyclical, 

effi ciency and cost-oriented advisory 

services which will lead to measureable 

results for your clients. 

TALOS Management Consultants 

GmbH, Philipp C. Tenbieg (M3) 

Scholarship for HHL entrepreneurs 

Mario Körösi (former HHL Research Associate 

at the WestLB Chair of Finance) and 

his team have been granted an EXIST 

Founders’ Scholarship by the Federal Ministry 

of Economics and Technology. Their 

We invented a fully automated dispensing 

system for pharmacies and industrial 

applications to assure the economical 

storage of small products which are 

highly complex or come in large quantities 

and great variety. 

C: The combination of my technical 

background and the business education 

at HHL prepared me for daily work in my 

business. Every day I appreciate the 

high education standards that HHL conveys 

when I am working with HHL graduates 

Jan Angermann (M3), André Völkel 

(M5) and Iwan Zwick (PhD, St.Gallen) 

in my company. 

Gollmann Kommissioniersysteme 

GmbH, Daniel Gollmann (M4), Swiss 

co-founder Dr. Iwan Zwick 

business creation is still in stealth mode, 

but already shows great promise. “The 

scholarship allows us to focus on our product 

and puts us in a comfortable position 

for future negotiations with investors. With- 


Contact: 


Tel.: +49 341 9851-677 

E-mail: stephan.stubner@hhl.de 

39 

smava is Germany’s leading personto-person 

lending marketplace – a kind 

of eBay for those who want to borrow or 

lend money. 

A: Give opportunity the chance to fi nd you. 

smava GmbH, Sebastian Rieschel (K11) 

Syntops is the leading expert for software 

for individualizing print products in 

a mass production process. Syntops 

technology enables the implementation 

of the business model of mass customization 

for the print and media industry. 

http://syntops.de/ 

A: 1. Focus on sales. 

2. Focus on sales. 

3. Focus on sales. 

Syntops GmbH, Gregor E. Dorsch (M2) 

out HHL, this important seed fi nancing 

would not have been possible,” Mario explained. 

HHL is supporting the start-up entrepreneurs 

with networking opportunities 

and mentoring.

40 

Career Service 

Entrepreneurial spirit among HHL’s 

Diploma graduates 

Placement statistics of the 

Diploma program in 2008 

The 2008 placement statistics once again 

underscore HHL’s reputation as a highly 

successful incubator of start-ups. One sixth 

of the graduates turned down a high-paying 

Placement Statistics of the Diploma program in 2007 and 2008 

Consulting 

Banking 

Start-ups, Family Businesses 

Postgraduate Studies 

Industry 

Accounting 

0 % 

1,8 % 

5,6 % 

8,3 % 

7,3 % 

Wide spectrum of company presentations at HHL 

In fall 2008 HHL’s Career Service organized a 

series of unique opportunities for students to 

meet with potential employers. A total of 16 

corporate presentations, workshops and recruiting 

events were held by company representatives, 

among them a number of HHL 

alumni, from different industries, including 

consulting, banking, auditing and the media. 

For the first time, Volkswagen’s in-house 

consulting firm presented itself as an attractive 

employer on the HHL campus. In their 

workshop “Think Lean” students applied 

their theoretical knowledge to practical prob- 

lems during a showcase on automotive production. 

Siemens Management Consulting 

job in consulting or banking, choosing 

instead to found their own company. 

This is the main conclusion drawn from 

placement statistics for the 36 graduates of 

the Diploma class K21. The diagram below 

shows the distribution of the students by 

5 % 10 % 15 % 20 % 25 % 30 % 35 % 40 % 45 % 50 % 

2007 2008 

12,7 % 

13,9 % 

14,5 % 

18,2 % 

16,7 % 

16,7 % 

38,9 % 

41,8 % 

(SMC), the Inhouse Consulting firm of Siemens 

AG, presented students with a very 

different aspect of the daily challenges in 

management. During the course “Interpersonal 

Skills Training” students learned the 

basics of successful leadership and gained 

interesting insights into the structure of their 

own and other people’s personality. Another 

exciting event was the company presentation 

of Booz & Company GmbH, which took 

HHL students into the Leipzig Zoo at night. 

With a guided tour, a visit to the aquarium, 

and dinner in the Hacienda Las Casas, this 

evening was an unforgettable experience, 

and not only for those who were visiting the 

zoo for the first time. A highlight at the end 


employer branch in 2008 and the figures for 

2007 for comparison purposes. In terms of 

specific sectors, the years 2007 and 2008 

show the following developments: 

• With a share of 41.8 % in 2007 and 38.9 % 

in 2008, consulting firms continue to be the 

largest employers, as in previous years. 

• In spite of the financial crisis, banking and 

financial companies were in second place 

with a slightly decreasing share from 

18.2 % in 2007 to 16.7 % in 2008. 

• Compared to a minor share of 1.8 % in 2007, 

the option of starting their own company, 

joining a start-up or working in the family 

business was chosen by 16.7 % of the students 

in 2008. It is the first time in the history 

of HHL placement that start-ups have 

ranked third in the employment statistics. 

• As in 2007, fourth place is occupied by grad- 

uates who chose not to start employment 

right away and instead joined a postgraduate 

program (2007: 12.7 % / 2008: 13.9 %). 

• The proportion of employment in the in- 

dustrial sector fell to 8.3 % in 2008 (2007: 

14.5 %), down to fifth place. 

• Sixth place is occupied by accountants 

and tax advisors; the share decreased 

slightly from 7.3 % in 2007 to 5.6 % 

in 2008. 

of this year’s on-campus recruiting season 

was the visit by Bertelsmann Media Group, 

which presented its huge variety of business 

activities and entry opportunities. In the evening 

program by The Boston Consulting Group 

GmbH, another aspect of Leipzig was enjoyed 

by the female HHL students. They were 

invited to the art galleries of the historical 

Leipziger Baumwollspinnerei (Leipzig cotton 

mill) to discover the creative heart of Leipzig 

and discuss how the famous “Neue Leipziger 

Schule” (New Leipzig School) achieved 

its world-wide reputation. 

Kati Dorsch

First placement statistics 

for HHL’s MSc program 

In summer 2008, HHL’s Master of Science 

in Management program (MSc) graduated 

its first students. Their initial placement 

pattern is quite similar to that of the Diploma 

students in previous years. Consulting 

continues to be the most attractive employ- 

er branch with 46.7 %. However, the indus- 

Career Service 

trial sector was the second most popular 

choice among graduates of MSc1, with 

26.7 % starting their career in this area. 

With 13.3 % each, the banking and financial 

sector shared third place with start-ups 

and family businesses. 

Placement Statistics of the Master of Science in Management Program in 2008 

Consulting 

Industry 

Banking 

Start-ups, Family Businesses 

0 % 

13,3 % 

13,3 % 

26,7 % 

46,7 % 

5 % 10 % 15 % 20 % 25 % 30 % 35 % 40 % 45 % 50 % 


41 

“The reason why I chose to pursue an 

MSc degree was to gain more 

academic knowledge, to grow my 

personal and international network and 

of course to improve my job opportunities. 

The strong connection to my 

fellow students as well as the diverse 

insight into the real business world 

given to us during lectures and field 

projects were very important to me.” 

Cora Theißen (28/German) 

MSc alumna (MSc1) 

Started a career as a consultant 

with SMP AG in Düsseldorf. 

�� 

�� 

Ohne Praxis nützt die beste Theorie nichts. Darum schaffen 

wir Raum für eine zukunftsorientierte und praxisnahe Ausbildung 

in Leipzig. Wir lassen Worten auch Taten folgen und 

unter stützen aktiv, damit junge Leute in Leipzig studieren. 

Um Fortschritt zu ermöglichen, engagieren wir uns für den 

akademischen Nachwuchs, bieten kontinuierlich Praktika 

sowie Diplom- und Masterarbeiten in unserem Hause an. 

Neugierig geworden? 

Wir beraten Sie gerne unter 

Telefon: 0341 121-6405 

Erich Kästner

42 

Background 

Happy hunting, or 20 minutes in the life of a librarian 

Library team: Andrea Lieb, Katrin Exner and Daniela 

Neumann (from left to right) 

Yes! Finally! I’ve got you! Am I sorry for you? 

No, I am not. Mr. Student – one of dozens of 

inquirers at HHL – really needed you. I had to 

hunt you down! I am an HHL Librarian – so, 

who am I actually chasing? Let’s call him Arthur 

– Arthur Article – a single piece from the tangled 

world of scientific publications. 

Mr. Student had given me an advance notice of 

Arthur Article from somebody’s publications 

list. “Forthcoming” it said, naming the title of the 

New staff 

Franziska Greim joined HHL in July 2008. As 

the replacement for Simone Panten during 

the latter’s maternity leave, she supports 

Professor Dr. Hans Wiesmeth and is responsible 

for the Dean’s office. Ms. Greim studied 

Eastern Slavic Language and Literature, Cultural 

Sciences, and Business. After graduat- 

journal. Chasing Arthur ... Just being cited here 

and there seems to run in his family, who is, by 

the way, not unfamiliar to me: A few weeks ago 

I searched for one of his ancestors, Annie Article 

from the seventies. I found her in a publisher’s 

archive with free access generously funded by 

the German national government. With Arthur’s 

expected date of publication being 2008, I 

knew that it would be useless to search for him 

in open space. Printed Articles of the younger 

generation rarely present themselves freely to 

the public. Sometimes you find a relatively new 

Article in a free online issue. Save it – next time 

you access the page you may be forced to pay 

per view. Sometimes one happens to find a 

kind of pre-print Article on the web. But would 

you prefer a half-baked roll to a tasty bakery 

product? 

Let’s check HHL’s resources: I type the name of 

the sought-after journal into the new A-Z metasearch 

tool on the homepage of HHL’s Library: 

“Journal of Innovation Management” – no result. 

Hmm, is there such a journal at all? I ask 

the Journals Database (last quick link on the 

Library’s homepage) – again no result. Maybe, 

Stephan Werchau joined HHL’s Department of 

Information Technology in July 2008. He grad- 

uated from the Leipzig University of Applied 

Sciences (HTWK) where he received his Diploma 

in Media Technology with majors in 

ing, she gained professional experience in a 

number of projects in Russia and Germany, 

including twinning projects for the Leipzig City 

Administration. Immediately prior to joining 

HHL, Ms. Greim worked for the organization 

„New Watersides“, which is uncovering the 

Pleiße and Elster rivers in Leipzig. 


it is a “Journal for Innovation Management”? 

“Journal of Innovation in Man- 

agement”? No hits. Let’s restrict the title 

search to just the three words Journal, Innovation, 

Management – voilà, the “International 

Journal of Innovation Management” is the 

closest match out of the 16 titles listed. Back 

to the A-Z metasearch, typing “International 

Journal of Innovation Management”. The different 

access options shown tell me that the 

journal is not available at HHL and that we do 

not have access to the 2008 issues via the 

Ebsco database because of a 12-month embargo 

on the digital fulltexts. So Arthur Article 

seems to be the perfect candidate for a distance 

loan order. But was it published in 

2008 at all? In which issue? Under which title? 

The hunt has just begun... . 

Confused now? Or curious about how to find 

answers to these questions? From January 

2009 HHL Library will offer monthly “hunting lessons” 

open for all students and staff at HHL. 

www.hhl.de/library 

Daniela Neumann 

Information Technology and Media Design. 

Before joining HHL, he worked for HELIOS 

Kliniken GmbH and was IT infrastructure and 

communication systems administrator at a 

hospital.

Background 

HHL is grateful to the Kramer Foundation’s donors: 

Dr. Andreas Schmidt, Berlin 

Prof. Dr. Kathrin Möslein, Leipzig 

Dr. Judith Marquardt, Halle (Saale) 

Prof. Dr. Dr. h.c. Hans Wiesmeth, Leipzig 

Winfried Pinninghoff, Leipzig 

KODA Stanz- und Biegetechnik GmbH, 

Dortmund 

Roland Berger Strategy Consultants, Munich 

Dr. Hans-Paul Bürkner, Frankfurt/Main 

Festo Corporation, Hauppage (New York), USA 

Prof. Dr. Dr. Helmut Sihler, 

Pörtschach am Wörthersee, Austria 

Prof. Dr. Dr. h.c. mult. Heribert Meffert, 

Münster 

Beatrice Deutschland GmbH, Paderborn 

Festo AG & Co. KG, Esslingen-Berkheim 

Stadt- und Kreissparkasse Leipzig 

Dr. Norbert Emmerich, Münster 

Kreiskrankenhaus Greiz GmbH, 

Greiz/Thuringia 

Marco Minnerup, Oberursel 

Harald and Nicola Lehmkühler, Warendorf 

Sachsen LB, Leipzig 

Deutsche Bundesbank Hauptverwaltung 

Leipzig 

E. Breuninger GmbH & Co., Leipzig 

Deutsche Bahn AG, Berlin 

Alte Leipziger Lebensversicherung aG, 

Oberursel 

Dr. Siegfried Luther, Gütersloh 

Industrie- und Handelskammer zu Leipzig 

Prof. Dr. Dr. h.c. Karl-Heinz Forster, 

Frankfurt/Main 

Dr. Christian Elsner, Leipzig 

Dr. Ing. h.c. F. Porsche AG, Stuttgart 

Deutsche Bank AG, Frankfurt/Main 

Dr. jur. Dr. h.c. Ludwig Trippen, Münster 

Hans-Peter Wehner, Cologne 

Prof. Dr. Hans Göschel, Leipzig 

Bayerische Hypo- und Vereinsbank AG, 

Munich 

Ernst & Young AG, Berlin 

Deutsche Industriebank AG, Leipzig 

Stadtwerke Leipzig GmbH 

Robert Bosch GmbH, Gerlingen-Schillerhöhe 

Martens & Prahl Versicherungskontor GmbH, 

Leipzig 

Prof. Dr. Gert Assmus, Hanover 

(New Hampshire), USA 

Prof. Dr. Christian Milow, Kronberg 

Frank Wilhelmi, Heidelberg 

in memory of Florian Zinsmeister, Straubing 

The Terboven Family, Rheinberg 

The Uhlig Family, Oberursel 

Markus Schmitt, Bad Soden 

Friedrich von Ploetz, Berlin 

Thomas Butzlaff, Berlin 

Dr. Alfred Oetker, Bielefeld 

The Dr. Enders Family, Bornheim 

Dr. Michael Rau, Frankfurt/Main 

Silvia und Harald Hungenberg, Lich 

Anja Nietzschmann, Taucha 

Bernhard Walter, Frankfurt/Main 

Michael Petersen, Leipzig 

Hubertus Scherer jun., Hannover 

Dr. Hans-Dietrich Winkhaus, Düsseldorf 

Christian Pfingsten, Düsseldorf 

Prof. Dr. Dieter J. Pommerening, Hamburg 

Michael Veit, Munich 

PricewaterhouseCoopers AG, 

Frankfurt/Main 

Kommunale Wasserwerke Leipzig GmbH 

Siemens AG, Leipzig 

Dr. Arend Oetker, Berlin 

Ludwig-Ferdinand Prinz zu Sayn- 

Wittgenstein-Berleburg, Bad Laasphe 

UNIPLAN International GmbH & Co KG, Kerpen 

Henkel KGaA, Düsseldorf 

Dr. Johannes Habbig, Bergisch Gladbach 

Bettina Kudla, Leipzig 

K19 of HHL 

Sebastian Just, Munich 


b&m management, Zürich, Switzerland 

Karl Kolle, Dortmund 

43 

Goldman, Sachs & Co. oHG, Frankfurt/Main 

WIPConceptWinfriedPinninghoff, Leipzig 

K13 of HHL 

Ivy League Organizing Team 2006 / K20 

Peter Krakow, Leipzig 

Alexander von Reden, Leipzig 

The von Plato Family, Heiligenthal/Lüneburg 

Christian Freiherr von Humboldt-Dachroeden 

Stephan Schröter, Leipzig 

Kinowelt GmbH, Leipzig 

Weber Rohrleitungsbau GmbH & Co., Puhlheim 

Deloitte & Touche GmbH, Leipzig 

BGH Edelstahlwerke GmbH, Freital 

BMW AG, Werk Leipzig 

Ivy League Organizing Team 2007 / K21 & MSc1 

Tatjana and Sebastian Steusloff, Frankfurt/Main 

P2 of HHL 

Dow Olefinverbund GmbH, Schkopau 

Dr. Burkhart Eymer, Lübeck 

Andreas Frisch, Frankfurt/Main 

Dr. Niklas Darijtschuk, Verl 

Dr. Gerd Robertz, Augsburg 

Ciarán O’Leary, Munich 

CosiFan Computersysteme GmbH, Leipzig 

Daniel Theuerkauf, London, UK 

Dr. Alois und Antonella Waldburg-Zeil, Leipzig 

Emilio Matthaei, Oxford, UK 

Dr. Nikolaus Petersen, Leipzig 

Peter Dorsch, Leipzig 

Daniel Kirchhof, Leipzig 

Irena Tomys, Mirkow, Poland 

The Schwetzler Family, Leipzig 

Büromöbel Müller Sachsen GmbH, Leipzig 

Telefonanlagenbau Spanka GmbH, Schkeuditz 

Last updated: December, 2008

44 

My way in… 

Best-in-class is just right 

As German Vice Champion in canoe slalom, I 

used to travel a lot to competitions such as 

World Cups and World Championships, and I 

did a huge amount of training. At some point in 

my career, I fi gured out that in sports the criteria 

for success are really quite simple: You have to 

apply your knowledge and abilities in the most 

effi cient way to achieve the best result in terms 

of medals. If you do that every day, with a little 

luck, things will work out for you. Whilst I was 

studying economics at the University of Augsburg, 

I realized that there are more similarities 

between beating other sportsmen in races and 

competing in the business world. To achieve 

your goals, you have to be best-in-class. That 

Small and medium-sized companies in Saxony 

(with up to 500 employees) can apply to the 

European Social Fund (ESF) for subsidies for 

further education at HHL for their employees. 

Both the MBA programs and HHL Executive’s 

General Management Program are eligible for 

subsidies up to 80 % of the tuition fee. ESF requires 

the employee to be a member of staff of 

Impressum 

Publisher: HHL – Leipzig Graduate School of Management 

Jahnallee 59 · 04109 Leipzig · Germany 

Tel.: +49 341 985160 · Fax: +49 341 4773243 

E-mail: info@hhl.de · Internet: www.hhl.de 

V.I.S.D.P.: Prof. Dr. Hans Wiesmeth, Dean of HHL 

EDITORS: Executive Management of HHL: Prof. Dr. Hans 

Wiesmeth (Dean), Dr. Judith Marquardt (Chancellor) 

EDITORIAL BOARD: Volker Stößel (MBA), Jana Vogel 

Background 

is why I opted for HHL. Another reason is that I 

saw that studying at HHL would boost my future 

career perspectives. Now I can say that 

HHL and I proved to be the perfect match! 

Erik Pfannmöller (K23) 

Financial support for HHL tuition fees 

On the move: Professor Dr. Arnis Vilks 

a small or medium-sized Saxon company; the 

company must submit the completed application 

form prior to the start of the program. Other 

states offer similar programs. 

For further information, please contact 

Petra Spanka (petra.spanka@hhl.de) or visit 

www.esf-in-sachsen.de 

On November 3, 2008, the Chairs of Microeconomics and 

of Economics and Information Systems, moved to their 

new, freshly renovated offi ces in Katharinenstrasse 17. In 

January 2009, this location in the center of Leipzig also 

became the new home for the Sparkassen-Finanzgruppe 

Chair of Macroeconomics, CLIC and HHL Executive. 

CONCEPT: WSB Werbeagentur 

ADVERTISEMENTS: WSB Werbeagentur GmbH 

Lampestraße 9 · 04107 Leipzig · Germany 

Tel.: +49 341 141000 · Fax: +49 341 1410014 

PHOTOS: HHL, CEEMAN archive 

FREQUENCY: twice a year 

CIRCULATION: 5,000 

ISSN 1433 934X | ISSN 1867-8017 

Thank you to all contributors and proofreaders of this edition. 


Upcoming events 2009 

January-July: VW General Management 

Programm | HHL Executive 

February 10-12: DOUGLAS Top Executive Program | 

HHL Executive 

February 19 and March 5: Seminar “BilMoG – Bilanzrechtsmodernisierungsgesetz” 

| HHL Executive 

February 28: e-fellows.net MBA Day, Munich 

March 19-20: 3 rd International Conference on 

“Regulatory Risks”, HHL 

March 21: World MBA Tour, Frankfurt 

March 26-29: The Negotiation Challenge (TNC) 

April 7: HHL Award “Ready for Business” 

April 27: MBA Career Fair, Berlin 

May 4-8: Bertelsmann Senior Management Program | 

HHL Executive 

May 8: HHL Information Day 

May 9: GMAT Seminar 

May 22-24: XIII European Ivy League 

July 25: Graduation 

July 27-August 8: Summer Course “Doing Business in 

the Enlarged European Union”, HHL 

News from HHL’s Department 

of Information Technology 

HHL’s IT Department is currently preparing for 

the introduction of a Campus Management software 

which will cater for online applications and 

admissions, student administration, program 

administration, and room and lecture planning. 

Name wanted! 

Put your creative cap on and come up with a 

name for HHL’s Campus Management 

Software. The name should not contain an 

umlaut and should be easy to pronounce. 

Please e-mail your proposal with the subject 

line stating “new name” to joerg.wolf@hhl.de 

by February 13, 2009. The winner will receive 

an iPod.

Research - HHL Leipzig Graduate School of Management

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