Learning how to tackle a financial crisis
Kalle Hvidt Nielsen the new CEO from B&O visited the first year IB class to talk about how he plans to beat the financial crisis.
The luxury Audio Visual business is tough to say the least, but CEO Kalle Hvidt Nielsen is sure that B&O is able to turn around and come out on top. "Investing in the future is of utmost importance. We want to start in pole position with the best products when the economy picks up again," said Kalle Hvidt Nielsen.
B&O has seen revenues decline by 25% and income drop by DKK 356m to a minus DKK 206,8m for the first six months of 2009.
Not all about cutting costs
According to the B&O CEO the turnaround strategy must be coordinated on multiple levels. "As the market declines so must our expenses to match the revenues earned and earn a profit," said Kalle Hvidt Nielsen.
But for B&O it's not all about cutting costs. New products must be launched with focus on their core business in integrated TV and Audio systems to seize new customers and keep the old. For B&O this combination of cost cutting and product development is the way out of the crisis and on top of the luxury AV business.
The future is secured
To avoid an immediate liquidity crisis and ensure sufficient capital for investment in the future the CEO had only hours before the meeting with the IB students received the green light for a new stock issue. This would ensure capital of around DKK 432m and secure the immediate future of B&O. For the Company and its new CEO though it is important not only that they start in pole position but that they remain ahead throughout the race.
Martin Nyvang Mariussen
Last updated by Andrew Arnold 03/09/2009
BSc in International Business EngAGE
- Do you want to continue your career with a company directly after your BSc studies?
A selected group of BSc students will be granted the opportunity to follow a new programme aimed at continuing their career immediately after graduation in one of a number of large Danish companies.
The contents of this programme will be tailored in partnership with the companies, who will pose practical challenges to the students during the programme. The programme will be very academically demanding and offers individual coaching, preparing the students to work independently already after three years of studying.
The participants will be selected on the basis of an assessment of their aptitude. The companies will take part in the selection process.
The contents of this programme will be tailored in partnership with the companies, who will pose practical challenges to the students during the programme. The programme will be very academically demanding and offers individual coaching, preparing the students to work independently already after three years of studying.
The participants will be selected on the basis of an assessment of their aptitude. The companies will take part in the selection process.
Why choose International Business?
Lectures in English, an international programme and career opportunities are among the reasons given by current students.
"I had just finished high school and I was looking for an opportunity to study business," says Robert, a first year IB student from China. "Chinese businesses strongly emphasise internationally-oriented employees these days, and I knew I would have a better chance in the competitive business environment if I left China for my university studies."
A unique approach to international business education
The main task of the International Business programme is to educate students so they can work in, or be consultants for companies and organisations with international operations, says Associate Professor Jens Gammelgaard who took over as director of the International Business programme in 2009.
