• A clear view on product cost price – creating a time-driven activity-based costing system in a belgian medium-sized food manufacturer

      Antidze, Mikheil; Dong, Hang (2019)
      Based on cost information, companies make important decisions about pricing, product mix and investment. A thorough and clear view on product cost price is essential to any company. In our research company, a Belgium-based medium-sized food manufacturer, the currently-used cost system is falling down on its job. The obsolete cost system outputs static and outdated cost price data, which barely gives any useful indication for products pricing today. Our task is to redesign a new cost system that is able to adapt to new changes within the company and from markets and give accurate and succinct results to managers. The aim of this paper is to introduce the steps we followed to develop the new costing price model in the company, the methodology we choose and the reasons behind it. In the beginning of the text, we first take a close look at different types of commonlyused cost systems nowadays and the possible connections that can be made with various costs in our research company. Next, we follow to introduce how the currently-used model looks like, the main structure of it and the main defect. Then the paper moves to how we start our cost analysis, the procedures we followed to develop the model. For example, production procedures identification, costs grouping, cost model structure designing and then the most appropriate allocation method choosing for each part of costs. We realize that the key to best reflect the costing reality is to choose the most appropriate allocation methods for different costs. In our model, all the costs associated with various functions of the business is carefully taken into account and a mixed of cost systems is used. In the methodology part, we first clarify which cost systems we use for each part of cost components and our main assumptions. A clear cost structure of is shown after that. Which starts from production cost and production overhead, followed by warehouse
    • A deep-dive on investment opportunities in enterprise software

      Demuynck, Alex; Vertommen, Christophe (2020)
    • A design of business structure and methodology for improved business development

      Kerstholt,Robert; Verelst, Charlien (2018)
      DEKRA Belgium (from now on referred to as DEKRA) is a mid-sized company that is part of the globally active DEKRA Group. It aims to assist in everything around safety and accidents at work, on the road, and at home. DEKRA does this throughout the whole safety lifecycle. Meaning that it provides services to prevent, handle, and improve. Most of DEKRA’s business considers the automotive industry, where it provides services like expertise in car damage and handling claims for insurance companies. The business activity of DEKRA is not limited to the automotive industry, with their departments industrial and personnel, they cover claims from insurance branches such as cars, cargo, real estate, liability, accidents, and health. DEKRA’s aim is to be the partner covering the entire safety lifecycle. DEKRA has strongly grown in previous years and the objective is to keep growing at a high pace. The company sensed the need for an improvement with regards to business development to reach this goal. This lead to a project to find out what this need exactly was, where it came from, and to provide a practical plan to fulfil this need. This report starts with preliminary research in which the exact need for business development gets tracked down. Tracking down the need for business development started with gathering general information about the company. This resulted in an understanding of the context. With this understanding, meetings were held in which targeted questions were asked about the motives for initiating this project. This lead to further research which revealed why there is indeed a need for improved business development. The reason for starting this project was illustrated with a couple of examples. These examples provided the insight that as DEKRA grew, certain company dynamics changed. This change in dynamics impacted the effectiveness of business development. Operations used to be able to somehow run the whole operational business and on top of that develop new business. Currently, the flaws of this system become evident. It is not possible anymore to expect operations to fulfill such tasks. They should no be expected to fulfill these tasks because it is not their expertise, nor do their day-to-day responsibilities leave enough time. This combination asks for a change that provides business development expertise and at the same time reliefs operations from tasks that do not fit their responsibilities. To provide this change, the logical solution is to assign one or multiple employee(s) with business development expertise and available time to do business development. Within DEKRA there is not enough spare capacity to meet both of those requirements. Therefore, new employee(s) are required to fulfill the business development need of DEKRA. Further research showed that for those new employees it should be clear who has the final responsibility for what. Organizational structure provides the necessary clarity. Designing this structure yields two options. They either work together as one team or they work separately. The first option results in one department from which business development is done company wide. The second option results in separate units that develop business for their specifically assigned department only. An evaluation of both options leads to the conclusion that setting up one department is the best option for DEKRA. This will bring organizational structure that fits DEKRA. The next part considers methods to develop business. This is about making what the department should do concrete. To concretize the function of this department, the exact scope of tasks that falls within the responsibility of the business development department was to be defined. To not reinvent the wheel a broad range of companies was studied in order to find learn from other companies about what to do to develop business. An evaluation of successful business development departments showed that business development can fulfil these tasks: creating an ideation culture, collecting business opportunities, creating an overview of business potential, evaluating potential business, making the step from plan to realization, adopting new business into day-to-day activity, marketing for the new business, managing the business development process. An additional conclusion with regards to the newly hired business developers is that they should get a job title that helps other employees to understand the function of business developers. This will lead to a higher chance of acceptance. The design of business structure and definition of tasks do not make clear what steps to take to improve business development. The real value for DEKRA comes from a practical plan. Therefore, a plan that describes how to do business development follows. From other companies was learned that there is not one set of tasks that will lead to effective business development for every company. The activities to develop business should be customized for the company. The next objective was to filter the list of tasks that business development departments usually fulfil. The value of performing these tasks at DEKRA was evaluated for each task individually, this lead to a set of tasks that is customized for DEKRA. Business development’s first task will be to collect business opportunities. This should be done in two ways. Firstly, by taking an active role with the aim to connect to the right people and sources of information. Secondly, attending meetings with customers and taking a similar active role to ensure opportunities are seized. The next step will be to create an overview of business potential; this can be done in various ways. How this is done will not be a difference of night and day. Making sure this step will not be skipped is what is most important. When the overview also displays the opportunities clearly and in order of urgency, then this step is performed very well. After everything is neatly organized, it is important to evaluate the potential business to see which opportunities are worth follow up. The most efficient way of doing this, is to start off with the pass/ fail evaluation method. Then a second evaluation round, where the evaluation matrix is used, results in a thorough evaluation. More practical information about how to create and use this matrix can be found in Appendix E. The end result of the matrix will be a tool for comparison and focused discussion. After deciding to further develop an idea, the realization of the idea should be prepared by establishing commitment through idea ownership and making a planning that tackles the pragmatic challenges. Then, the development and testing of minimum viable services will result in the actual realization of the business opportunity. Providing operations with necessary information to deliver the minimum viable service is driver of success. In parallel, business development should devise and realize a go-to-market strategy. To finish the business development cycle, the responsibility for the service should be transferred to operations. Operations will then adopt the new business in day-to-day activities while providing feedback to the business development department. DEKRA’s internal knowledge on management provides a solid basis to manage that all these tasks are performed correctly. However, it advised to spend extra attention on communication. Research showed that the use of a platform can result in the efficient and effective communication aspires to have. The assessment of multiple platforms provides an overview of options and inspiration on how to improve communication. A platform called Yambla has high potential to improve the communication of the business development process as well as the overall communication within DEKRA. A system that integrates DEKRA connect with a platform would make the ultimate communication tool. In conclusion, a business development department has to be set up and should follow a welldevised set of methods to fulfil the tasks that lead to business. The report covers in how to do this in closer detail. The execution of this plan will result in effective business development that enables DEKRA to grow in the future.
    • A dynamic model to assess the potential of the future green hydrogen market

      Borgions, Kristof; Claeys, Michael; Michiels, Sarah (2020)
    • A hybrid research on how to revive an iconic fmcg brand in the Belgian market

      Klinkers, Julie; Puelinckx, Anneleen; Rooryck, Julie (2019)
    • A market research of the financial market risk adivsory landscape

      Cravello, Iman; Spizzichino, Barbara; Hodjeff, Tatiana (2020)
    • A practical guide to scale up fist aid training in Southern African countries through blended learning

      Wakkach, Asmae; Van Daele, Clément; Villetti Chitolina, Paola (2018)
      Findings in Southern African countries concerning the number of deaths that could be prevented by first aid skills are worrying. In South Africa, for example, fifty percent of the number of deaths caused by road traffic accidents are cases where first aid could have made the difference. First aid knowledge is spread by various players offering training in the specific subject, but not to a satisfactory extent. To tackle this problem more efficiently, leveraging public and private partnerships and investing in digitalization is a solution, especially as mobile usage is booming and creating opportunities in the region. From this perspective, Belgian Red Cross Flanders (BRC-FL) is planning to launch blended learning projects for first aid in Southern African countries, offering a combination of online and offline training, that aim to be more convenient for the customer and easier to scale up. In Chapter I, the report kicks off with a market research to offer a background and overview of trends in the Southern African countries, the first aid market and blended learning market. To provide BRCFL support in launching the future projects, Chapter II entails a general model that will assist the project managers and management team in developing, managing and monitoring blended learning projects in South African countries, including frameworks and practical guidelines for the various steps the organization needs to go through. Currently, BRC-FL is working towards the launch of a blended learning project targeting the transportation sector, called SaFER, together with South African Red Cross Society (SARCS) and Empower School of Health (ESH). In Chapter III, the SaFER project is used as an application of the general model developed in Chapter II, where advice is given for the different stages of the project, including the analysis of the value chain and addressing the responsibilities to the parties involved, evaluation of ESH as partner in the project, evaluation of the technology and product development and the expansion to other countries. In addition, a special focus is given to protect the interest of SARCS in the future agreement with ESH. Chapter IV addresses two new high potential projects in Southern Africa. Project 1 takes place in Malawi, targeting the manufacturing industry for consulting purposes regarding first aid, while Project 2 is in South Africa, targeting rural population to provide primary health care services. The main takeaways and recommendations presented are with regards to SaFER, as this specific project is the primary focus of this report. The first main concern of the project is about how to develop a digital product and which technology to use. After evaluating the different possible scenarios, the main conclusion is that a mobile application is more suitable for the SaFER project as the blended learning project is targeting essentially drivers. Furthermore, different feasible scenarios are provided regarding the platform development and design and how the online product should look like as there is no one ideal solution at this moment. The most important is to move towards the digitization of the content and ship the product as soon as possible to the market, no matter the partner. The second advice concerning the digitalization of the content within the SaFER project and the projects to come is that it needs to be kept in-house. Executing this activity will provide BRC-FL the ownership of the digital content, and thus makes it important in the long run if the project becomes successful as it would be easier and faster to scale up. Lastly, the partnership with ESH leaves various question marks. To start, there are doubts if ESH really has the capabilities and experience it claims to possess, as well as its network in the African countries. Furthermore, the questions arise if ESH is the best option for the project, especially when needing to give up being responsible for the digitalization. It is not possible to find clear answers for the first questions yet, however, if the digitalization of content being made by BRC-FL is not an option for ESH, pulling the plug for the partnership is recommended.
    • A research for the impact and functioning of the Visual Player system in on-trade outlets in Belgium and the Netherlands, as a foundation for future improvements.

      Janssen, Stef; Willaert, Gilles (2018)
      The Bacardi Visual Player is a TV-screen placed in on-trade outlets in Belgium and the Netherlands that displays visuals of Bacardi brands. The objective of this program is to build brands in the on-trade and to influence the consumer buying decision towards Bacardi’s category. Until today, Bacardi has no understanding of the impact of this initiative on these objectives. They do not know any marketing KPIs of this system, nor the possible impact on sales. On top of this, Bacardi has no insights from outlet owners on what is currently working well and what is not. The only thing that is sure for the moment is the fact that the amount of well-functioning Bacardi Visual Players is significantly decreasing. Does Bacardi keep investing in this system ‘as is’ or not? If not, what do they need to do to improve this program?
    • A riziv/inami-reimbursement proposal for outpatient parenteral antimicrobial therapy (opat) in Belgium

      Dezutter, Olivier; D’Hondt, Louis; Vandenbroucke, Louise (2019)
      Outpatient parenteral antimicrobial (or antibiotic) therapy (OPAT) is the parenteral administration of antimicrobial therapy in the outpatient setting (e.g. at home). A way to deliver parenteral therapy in an outpatient setting is by means of non-electronic medication pumps, elastomerics. Although the elastomerics are a convenient and comfortable way to administer OPAT, the elastomeric pumps are not often used in Belgium. This mainly because of the low implementation of OPAT comparing with other countries such as the United States, United Kingdom and The Netherlands. However, the therapy is considered safe, cost-effective and convenient in the international literature To increase the potential of elastomeric pumps in Belgium, Baxter wants to raise the implementation of OPAT in the Belgian hospitals. Therefore, Baxter’s in-company project (ICP)-objective is to develop a RIZIV/INAMI (Rijksinstituut voor ziekte- en invaliditeitsverzekering/ Institut national d'assurance maladie-invalidité)-reimbursement proposal for OPAT. Not only Baxter benefits of the reimbursement of OPAT, also the patient, hospitals, and especially the RIZIV/INAMI, as substantial savings can be achieved on their side. To develop a reimbursement proposal for OPAT, the ideal way in which OPAT can be organized should be identified. Therefore, all stakeholders in the OPAT-ecosystem in Belgium including the patient, caregivers, physicians, hospital, hospital pharmacy, peripheral pharmacy, RIZIV/INAMI, private insurance, pharmaceutical industry and medical technology, home nursing and an external firm Remedus were interviewed. By interviewing these stakeholders, a large variety in the implementation of OPAT in the Belgian hospitals and thus a varying ecosystem is discovered. This is due to the recent implementation of in Belgium and the lack of a clear governmental framework. Every hospital has his own idea and organization of OPAT. Another important issue is the lack of reimbursement of OPAT, making this treatment expensive for the patient in comparison to a regular hospital stay. This mainly due to the ambulatory price of antibiotics and the use of medical materials (including elastomeric pumps) The following three different OPAT-scenarios could be identified in the Belgian hospitals: 1) the firstline scenario, where OPAT is seen as primary care, so the general practitioner and peripheral pharmacy get the responsibility of OPAT after start-up of OPAT in the hospital, 2) the hospital coordinated OPAT, where the hospital keeps control of the treatment and 3) the mixed scenario, where the hospital initially coordinates OPAT, but after a certain period the responsibility is shifted towards the first line care. Based on the interviews with hospitals and the other stakeholders, we concluded that the best current way to organize OPAT in Belgium would be the ‘hospital coordinated OPAT’ scenario. The actual reimbursement proposal consists of four elements. First, the reimbursement proposal includes a compensation of €300 per OPAT-treatment for the organization and coordination of OPAT by the hospitals (OPAT-initiation lump sum). The €300 lump sum is intended to cover the extra costs caused by the initiation of OPAT. Secondly, since there is an immense diversity concerning the antibiotics (much variation in the administration rates, delivery systems and costs of the antibiotics), the reimbursement proposal excludes the antibiotics from a lump sum. We concluded that the ideal way to deliver the antibiotics to the patient is through the hospital pharmacy, so the reimbursement of the antibiotics should be the same for an OPAT-patient as for a patient staying hospitalized. Consequently, the patient should only pay €0.62 co-payment per day independent of the (quantity of) antibiotics used for his/her treatment. Thirdly, as the administration rates of the antibiotics vary a lot and therefore also the medical materials used, five different daily lump sums for the medical materials are developed: three for bolus and intermittent administrations and two for continuous administrations. The former three are: €3.15 per day, €4.90 per day and €6.65 per day, for one, two and three administrations a day, respectively. For the latter, the daily lump sum for one continuous administration equals €32.85 per day, whereas for two administrations this equals €64.30 per day. Fourthly, home nurses should get a compensation dependent on the number of patients visits they have to do in a day. A compensation of €31.19 is provided in case of one and two administrations a day, while a compensation of €46.19 is foreseen when three administrations a day are needed. The financial implications of our reimbursement proposal for some stakeholders could be calculated. Based on a sensitivity-analysis of different parameters such as the changing number of patients, changing variety in antibiotics and changing duration of OPAT, the calculated savings for the RIZIV are around €20 million. The value for the patient is the fact that he/she is not financially penalized anymore while being able to recover in at home setting. Furthermore, the hospitals can receive the OPATinitiation lump sum and part of the money for the medical materials and reimbursement of antibiotics from the RIZIV/INAMI. With the recommended organization of OPAT and the proposed reimbursement, a good foundation for OPAT in Belgium is formed. However, there are some issues we could not address that still need to be solved to obtain an even better implementation of OPAT, such as the insurance of optimal quality and follow-up, involvement of the peripheral pharmacies and acceptance of providing OPAT in retirement homes.
    • A roadmap to industry 4.0 in the food processing industry

      Delorenzi, Hélène; Dochy, Laurence; Hanson, Lauren (2020)
    • Accelerate company growth in the complementary medicine market by redefining the value proposition and determining a new B2P2C go-2-market strategy

      Vermeiren, Evelien; Schirwis, Elija (2019)
      The European market of complementary medicine is booming due to the rising awareness in society of improving lifestyle needs. Lifestyle includes the behavior and activities that defines our daily life, for example the food we eat that directly affects our health. Various studies show that good nutrition acts preventive and lowers the risk for many diseases. For example, our food habits can prevent or stimulate heart disease, stroke, some types of cancer, diabetes, and osteoporosis. For consumers, nutritional supplements are a more effective way to absorb the daily recommended intake of essential vitamins, minerals and other important nutrients. Consequently, the market for consumer health, in particularly for nutritional supplements is growing with CAGR of more than 6% in Europe. However, this market is highly fragmented and many small- and medium-size companies offer very similar values to the consumer for both their products and services. Therefore, Energetica Natura (EN), operating in the Benelux countries and France, wants to redefine its value proposition and make a clearer statement towards its clients: both the professional and the end consumers. A team of two MBA students, Elija Schirwis and Evelien Vermeiren, was engaged in this in-company -project (ICP) and determined the following two research questions: • What value should Energetica Natura bring to the professional and end-customer? • And what corresponding go-2-market strategy is required to achieve company growth? To reach these goals, the company realized that it requires a clearly defined Value Proposition to communicate towards their professionals and the end-consumers. In the scope of this ICP project, the team analyzed the company data, studied various market reports, carried out interviews with Energetica Natura’s employees and professional clients, conducted a survey with the end-consumers and applied various frameworks in order to draw conclusions and to prepare recommendations. The recommendations that followed from this research are as follows: 1. To strengthen the company’s capabilities, they need to collect more profound data on the professional clients, the end-customers, the lifestyle trends, and the dynamics on the European markets in order to stay ahead of the market and respond to market trends 2. Incorporate the new value proposition for the professional and end-consumer market that is based on three drivers: Partnerships, Specialization and Lifestyle 3. Implement the optimization suggestions in order to improve the go-2-market strategy for the professional market. These suggestions are based on two pillars: Focus on defining specific target groups and augment the digitalization of internal processes. 4. Start building on the newly designed end-consumer go-2-market strategy that consists of three main drivers: Develop on a fully digital customer journey, design a GPS “light” questionnaire for the end-consumer, and launch a specific end-consumer brand Finally, this report is prepared on the premise that the proposed recommendations are useful and pragmatic for the company and that the new value propositions is substantial to accelerate the company’s growth in complementary medicine market. Our team is convinced that this report will serve as a practical roadmap to support Energetica Natura’s go-2-market decision for the B2P2C market.
    • Agile leadership and resource allocation in a global pharmaceutical company

      Fadoua, Amraoui; Timea, Rezi-Kato (2020)
      UCB, an innovation and R&D-based biopharma leader, has been growing off of its stable portfolio over the latest decade. In the next years, they are about to lose exclusivity on two of their major blockblusters, Cimzia and Vimpat, together accounting for more than half of the company’s net sales in 2019 (UCB, 2019b). While there are 6 new drugs. Currently in the R&D pipeline, their exact faith is still a question mark. Topped with international uncertainties, the external environment also brings doubts reaching from political (US elections) to economic (COVID-19) questions and more. In these uncertain times, one thing is sure UCB can no longer rely on its stable processes established over the years. They need to be able to show agility and quickly allocate resources to where it brings the most value for the organisation.
    • An opportunity assessment to launch a private placement service in the Belgian market

      Stockmans, Stéphanie; Van Hove, Pauline; Van Saet, Olivia (2019)
      Although the expectations of both emitters and investors emphasize the need for a private placement service, knowledge about private placements in the Belgian market is very limited. This can be explained, for example, by the fact that not many private placement deals have been disclosed yet. Due to the changing needs of emitters, KBC Securities (KBCS) is often challenged with the expectation of its clients to offer them as many financing options as possible. Moreover, KBCS wants to keep its investor base satisfied by offering compelling solutions when it comes to portfolio diversification. Accordingly, this report was commissioned to examine the possibility of launching a private placement service on the Belgian market. KBCS’ question with regard to private placements was very clear and was taken into account to determine what type of private placements should be sought, namely “is there an opportunity to implement equity private placement as a service in the Belgian market that meets the following requirements; (1) an issuer needs to be a private and mature company (2) an investor should be professional and not operate through a fund and (3) the focus should be on large deal sizes?” Methods of analysis include qualitative research, consisting of both primary and secondary research. Involvement of experts and investors facilitated the interpretation of data and the development of a shared understanding of the private placement landscape. Data was collected using 23 interviews. Statements that follow from these interviews are supplemented with secondary research obtained through articles, journals, reports and websites. Literature review shows that the European market for private placement is strongly dominated by debt. The neighbouring countries of Belgium, France and Germany, seem to dominate the European market for private placements of debt. When debt private placements are positioned against, for example ordinary loans, it is concluded that these products are generally riskier, require a higher interest rate, are more flexible and encompass more information asymmetry. It was decided that the scope of the business case would focus solely on equity private placement for the following reasons; (1) This research points to a higher demand for equity than for debt private placements in the Belgian market and (2) KBCS is triggered by the “little crowd concept” and has a genuine interest in this equity product. Note that this focus does not necessarily mean that there are no opportunities to offer services in terms of debt private placements or combinations of both. The most important stakeholders involved in a private placement are an issuer and an investor. According to our analysis, issuers are SMEs with stable cash flows and a well-grounded future plan. Targeted investors can be both wealthy individuals and family offices. They seem to be looking for well-diversified portfolios and a high return in exchange for a higher risk. In addition, they adopt a “buy-and-hold” strategy for private placements. These potential clients find private placements appealing because, for example, they offer them flexibility and confidentiality. Interviews have indicated that a due diligence from the perspective of the investor and a screening of the emitter performed by the arranger are the services that are at least expected when an intermediary is brought in to facilitate the process. In addition, the respondents indicated that networks instead of platforms should be used to bring contracting parties together because clients greatly appreciate the personal contact that they have with the arranger. The Belgian equity private placement market is characterized by a high demand from the investor’s side, low competition and therefore a high risk of market access and a difficult to estimate supply from the emitter’s side. In terms of competition, there are only two direct competitors who offer equity private placements in the Belgian market, being SDM-Valorum, which focuses on small deals with a maximum deal size of €10 million and Degroof Petercam, which focuses on larger deals ranging from €36 to €100 million. These large equity private placement deals are only issued by listed emitters. In addition, there are two types of indirect competitors that pose a threat to the relevance of an arranger, being private equity firms and family offices. On the one hand, this study indicates that the demand from Belgian unlisted emitters for equity private placements is concentrated at the lower end of the deal sizes, since historical private placement transactions in Belgium had an average and median transaction value of €23,40 million and €4,75 million respectively. In addition, only two outliers out of 19 transactions reached a transaction value of more than €10 million. As a result, this project is aimed at a deal size between €500 thousand and €10 million. Building on this latter range of deal sizes, KBCS requested to focus on two potential revenue models, namely (1) the matchmaking model and (2) the full-fledged model. Model 1 leads to less income as a result of a smaller number of services offered, since KBCS is only obliged to bring the contracting parties together and to perform a screening, including a due diligence for both contracting parties. It was therefore decided that the income from the matchmaking model would only be based on a success fee, usually 2% to 3% of the deal size. In this case the break-even point is reached at two to three deals a year if the deal size is at least €5 million. Under model 2, the service offering from KBCS is much more extensive. As a result, it requires a fixed fee in addition to a higher success fee. According to this model, the revenue is based on the sum of a fixed fee ranging from €10 thousand to €25 thousand and a success fee of 3% to 4,5% of the deal size. The exact number of deals needed to reach a break-even point differs greatly in terms of the number of deals, the fixed fee, the success fee and the deal size. Building on this latter range of deal sizes, KBCS requested to focus on two potential revenue models, namely (1) the matchmaking model and (2) the full-fledged model. Model 1 leads to less income as a result of a smaller number of services offered, since KBCS is only obliged to bring the contracting parties together and to perform a screening, including a due diligence for both contracting parties. It was therefore decided that the income from the matchmaking model would only be based on a success fee, usually 2% to 3% of the deal size. In this case the break-even point is reached at two to three deals a year if the deal size is at least €5 million. Under model 2, the service offering from KBCS is much more extensive. As a result, it requires a fixed fee in addition to a higher success fee. According to this model, the revenue is based on the sum of a fixed fee ranging from €10 thousand to €25 thousand and a success fee of 3% to 4,5% of the deal size. The exact number of deals needed to reach a break-even point differs greatly in terms of the number of deals, the fixed fee, the success fee and the deal size. If KBCS decides to accept the range of services that apply to equity private placement deals that can reach a maximum deal size of €10 million, a competitive advantage can be gained. This by elaborating on its focus on medium-sized companies, its current service and client base, its reputation and its existing network. The way in which KBCS commercializes the service will be thoroughly screened by the banking committee. In addition, KBCS must be aware that offering personalized communication and assistance throughout the deal process leads to customer loyalty, interaction and long-term engagement. The latter enables them to increase market share, because loyal customers will act as a brand advocate. The KBCS website will serve as an important tool to arouse interest by highlighting success stories and a detailed plan that explains what clients can expect until deal signing. It is concluded that the private market is booming and that there is a common belief that it is a good time to implement equity private placement services. However, it is also concluded that the answer from our research to the question of KBCS is unfortunately negative. This, because the demand from Belgian emitters for equity private placements is hooked up at the bottom of the deal sizes and large deals are issued by public companies and assisted by Degroof Petercam. If KBCS continues to insist on large deal sizes, the company must admit that emitters are listed. On the basis of interviews, however, it is assumed that there is little interest from Belgian private companies to issue large equity transactions as they simply do not feel the need to grow quickly and thereby raise big amounts of capital. Private companies can be served by KBCS only if the latter is willing to offer equity private placement services for smaller transaction values. For these deals, it is recommended to use the full-fledged revenue model, as research has shown that issuers within this range need a larger number of services. It is also recommended to (1) check whether there is a need to recruit additional staff, (2) to measure success in terms of the number of deals that must be done in order to breakeven, but (3) at the same time keeping the importance of clients’ expectations and the overall strategy in mind, (4) to raise awareness of the equity private placement services and (5) to prepare themselves by picturing the profile of each investor to become a pool of potentially interested investors that can be contacted in no time if KBCS is approached by a company to support an equity private placement deal.