Master's Thesis from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,2, Steinbeis University Berlin (School of International Business and Entrepreneurship), course: Dual Degree @ Universidade Vila Velha, language: English, abstract: The megatrend of globalization has been influencing and is still shaping private as well as corporate life. This "inevitable wave of the future (...) is frequently confused with internationalization, but is in fact something totally different.". For this reason, it is pertinent to elaborate on this issue later on in the literature review because a shared understanding is key in order to provide correct and generalizable results by means of this paper. For a comprehensive understanding of the underlying problems and derived goals for the paper and the project, it is necessary to highlight another trend, whose origin can be traced back to aforementioned one: In addition to the increasing competitive pressure, primarily in the currently disruptively changing automotive and supply industry, the trend of the so-called renaissance of accounting is having far-reaching consequences. Since about 2010, the enormous potential for improvement in the financial sector has been (re)discovered, resulting in the necessity for various analyses with an internal and external focus, in which the existing processes were examined with regards to performance and compared to competitors by benchmarking oneself.