The image depicts a group of people joining hands together in a gesture of unity and teamwork. The individuals are dressed in formal or business attire, suggesting a professional setting or collaboration. The positioning of their hands in the center of the image minimizes focus on any single person, emphasizing the collective effort and partnership among the group.

### Further Observations:
- **Composition**: The depiction is framed to highlight the unified hands rather than the facial features or identities of the people involved.
- **Background**: The background is plain and neutral, possibly to avoid distracting from the central focus.
- **Symbolism**:
  - Represents teamwork, solidarity, and unity.
  - Often used in contexts such as corporate team-building, diversity initiatives, or community support projects.

Shaping success together

We research and analyze.

We question and discuss.

We comment and present.

We listen and record.

 

We act consistently and sustainably,

are efficient and innovative,

meet our customers in a cooperative and cosmopolitan manner

and answer questions confidently, directly and honestly.

The image depicts a cityscape setting with tall modern buildings reaching towards the sky. In the foreground, there is a clear traffic sign with arrows indicating different directions labeled "National" to the left and "International" pointing upwards, suggesting directions for vehicles or pedestrian routes. Adjacent to the sign is a traffic light showing a green signal, implying clear passage for traffic going in the International direction. The scene is set against a background of clear skies, reflecting urban development and road navigation indicators. The image depicts a cityscape setting with tall modern buildings reaching towards the sky. In the foreground, there is a clear traffic sign with arrows indicating different directions labeled "National" to the left and "International" pointing upwards, suggesting directions for vehicles or pedestrian routes. Adjacent to the sign is a traffic light showing a green signal, implying clear passage for traffic going in the International direction. The scene is set against a background of clear skies, reflecting urban development and road navigation indicators.

Cosmopolitanism

We are international and cosmopolitan: Our colleagues hail from Afghanistan, Bulgaria, Germany, England, Cameroon, Spain and Turkey. We are business people and economists, biologists and medical professionals, mathematicians, media consultants, physicists and business informatics specialists. Our research publications appear in German and partly in English.

In our analyses, we take off our "German glasses", change our views in different scenarios and adopt new perspectives. It is important to be aware of local and cultural particularities and to take them into account, whether when looking at individual markets, talking to clients or during meetings in the respective country.

Cosmopolitanism is a prerequisite for us in developing a comprehensive and differentiated view of the world as the basis for our forecasts and opinions.

A group of people in a conference room discussing or collaborating on a project. The table is covered with documents, notebooks, cups, and some electronic devices like laptops or tablets. There are plants in the background and a television mounted on the wall.

Partnership

Partnership characterises our work; together we achieve success. The focus is on our team performance, the diversity of opinions, dialogue on the path to finding solutions, the willingness to develop something together, and trust in the expertise of the individual.

Partnership means being there for each other, stepping in during difficult situations, supporting each other and reaching out. We pursue a common goal. This also includes passing on information for our everyday work, proofreading a study at short notice or covering the phone when things are already stressful.

Partnership also determines our relationship with our customers. We talk to each other as equals, listen and exchange ideas. Our clients' needs and concerns are very important to us. They determine our range of services and our actions.

A group of people in a conference room discussing or collaborating on a project. The table is covered with documents, notebooks, cups, and some electronic devices like laptops or tablets. There are plants in the background and a television mounted on the wall.
### Description of the Image

**Central Element:**
- The word "Innovation" prominently displayed at the center within a circular orb.

**Surrounding Details:**
- A network of interconnected circles orbiting the central orb, linked by lines.
- Each surrounding circle contains various symbols or icons that may represent components or elements related to innovation.

**Icons Depicted:**
1. **People/Team:**
   - Icon resembling a group of people, symbolizing collaboration or teamwork.

2. **Clock:**
   - Represents time, deadlines, or punctuality, essential elements in innovation.

3. **Idea/Bulb:**
   - Icon showcasing a light bulb, a universal symbol for ideas or creativity.

4. **Gear/Process:**
   - Gear symbol demonstrating processes, efficiency, or mechanisms.

5. **Network/Structure:**
   - Circular connections resembling networks or strategic frameworks.

**Background Context:**
- Two hands positioned on either side of the network design, palms facing upwards.
- Suggests an element of presentation or protective custody of the innovation concept.
- The overall background is subdued, primarily white and wooden accents likely originating from a desk setting.

### Possible Themes and Implications
- **Innovation:** Central theme focusing on creating new solutions or ideas.
- **Collaboration and Teamwork:** Emphasizes the group effort required in innovative projects.
- **Time Management:** Signifying the importance of adhering to timelines in innovative processes.
- **Ideas and Creativity:** Essential for driving innovation.
- **Efficient Processes and Networking:** Critical for turning ideas into reality.

### Purpose of the Image
- Often used in presentations or discussions related to business, project management, or creative pursuits.
- Illustrates the complexity and multifaceted nature of innovation and its dependency on time, teamwork, and efficient processes. ### Description of the Image

**Central Element:**
- The word "Innovation" prominently displayed at the center within a circular orb.

**Surrounding Details:**
- A network of interconnected circles orbiting the central orb, linked by lines.
- Each surrounding circle contains various symbols or icons that may represent components or elements related to innovation.

**Icons Depicted:**
1. **People/Team:**
   - Icon resembling a group of people, symbolizing collaboration or teamwork.

2. **Clock:**
   - Represents time, deadlines, or punctuality, essential elements in innovation.

3. **Idea/Bulb:**
   - Icon showcasing a light bulb, a universal symbol for ideas or creativity.

4. **Gear/Process:**
   - Gear symbol demonstrating processes, efficiency, or mechanisms.

5. **Network/Structure:**
   - Circular connections resembling networks or strategic frameworks.

**Background Context:**
- Two hands positioned on either side of the network design, palms facing upwards.
- Suggests an element of presentation or protective custody of the innovation concept.
- The overall background is subdued, primarily white and wooden accents likely originating from a desk setting.

### Possible Themes and Implications
- **Innovation:** Central theme focusing on creating new solutions or ideas.
- **Collaboration and Teamwork:** Emphasizes the group effort required in innovative projects.
- **Time Management:** Signifying the importance of adhering to timelines in innovative processes.
- **Ideas and Creativity:** Essential for driving innovation.
- **Efficient Processes and Networking:** Critical for turning ideas into reality.

### Purpose of the Image
- Often used in presentations or discussions related to business, project management, or creative pursuits.
- Illustrates the complexity and multifaceted nature of innovation and its dependency on time, teamwork, and efficient processes.

Innovation

Discovering and trying out new things, always looking for the perfect solution: we strive to optimise services for our customers, to continuously develop analytical methods and to streamline our processes.

We use the possibilities offered by digitalisation in analysis, publication production and distribution.

In our DZ Research Blog we comment on economic trends, current market developments and take a stance on economic policy. We explain our view on things in videos and post our key messages on Twitter. Innovations provide us with new ways of reaching our customers. This is what drives and motivates us.

A child holding a small wind turbine model in a field or meadow backdrop.

Sustainability

We established our sustainability research in 2009. In a sense, pioneering work was done at that time. In the meantime, we use a scoring model to evaluate a notable universe of around 5,000 issuers in terms of sustainability and are witnessing increasing demand. Especially in the case of proprietary investments, cooperative banks attach great importance to acquiring bonds from issuers that consistently behave in a sustainable manner. This trend is continuing in investment advice to private clients.

Sustainability shapes our entire analysis. We therefore place great emphasis on continuity in coverage and at the same time strive to make dynamic adjustments to our research universe in order to meet the needs of our internal and external clients. We cultivate long-term and trusting relationships with our readers and business partners. On the other hand, we do not think it is effective to put forward lofty theories for the sake of attracting public attention.

Sustainability also plays a major role for us in our daily work and on how we get to work. Most of us take public transport or travel by bike, and video conferences can often replace business trips. For many years now, our research publications have been published almost only electronically. We also rely on electronic solutions for archiving, for example, for the documents and sources used in an analysis.

A child holding a small wind turbine model in a field or meadow backdrop.
The image shows a person wearing a dark suit with a white shirt and a red tie.

Dialogue is important to us. We are not only interested in the forecasts, but also in taking up current topics and answering questions of general interest. This also provides us with important impetus for our publications.

Dr. Michael Holstein, Chief Economist
### Description of the Image

**Theme:** 
Cybersecurity in a digital environment.

**Elements Featured:**
1. **Hands Typing** - A person's hands positioned over a keyboard of a laptop, suggesting an active interaction with the device.
   
2. **Laptop** - The presence of the laptop indicates a computing device being utilized for digital tasks.

3. **Hexagons with Icons:**
   - **Lock Icon**: Represents security, protection, or privacy measures.
   - **Monitor Icon**: Symbolizes computer technology or internet connectivity.
   - **Envelope Icon**: Suggests email communication or mail security.
   - **Smartphone Icon**: Represents mobile devices and telecommunications.
   - **Chat Bubble Icon**: Indicates messaging or online communication services.

**Visual Style:**
- **Modular Graphics:** The hexagons and icons give a contemporary, digital-themed illustration into the image.
- **Color Tone:** Soft with hints of technological aesthetics, creating a business-like vibe.

**Purpose/Impressions:**
- The arrangement of these elements focuses on conveying a message related to digital security, possibly emphasizing the importance of cybersecurity and privacy across different platforms and devices.
- It suggests operations happening in a networked environment, underlying how integral security measures are for daily online tasks. ### Description of the Image

**Theme:** 
Cybersecurity in a digital environment.

**Elements Featured:**
1. **Hands Typing** - A person's hands positioned over a keyboard of a laptop, suggesting an active interaction with the device.
   
2. **Laptop** - The presence of the laptop indicates a computing device being utilized for digital tasks.

3. **Hexagons with Icons:**
   - **Lock Icon**: Represents security, protection, or privacy measures.
   - **Monitor Icon**: Symbolizes computer technology or internet connectivity.
   - **Envelope Icon**: Suggests email communication or mail security.
   - **Smartphone Icon**: Represents mobile devices and telecommunications.
   - **Chat Bubble Icon**: Indicates messaging or online communication services.

**Visual Style:**
- **Modular Graphics:** The hexagons and icons give a contemporary, digital-themed illustration into the image.
- **Color Tone:** Soft with hints of technological aesthetics, creating a business-like vibe.

**Purpose/Impressions:**
- The arrangement of these elements focuses on conveying a message related to digital security, possibly emphasizing the importance of cybersecurity and privacy across different platforms and devices.
- It suggests operations happening in a networked environment, underlying how integral security measures are for daily online tasks.

Security

Security characterises our analysis and publication process. Our methods are transparent and comprehensible. We assume joint responsibility for our forecasts, prepare our research publications in accordance with the principle of dual control and observe confidentiality with regard to unpublished investment recommendations and strategy recommendations. We act independently of the Bank's trading and sales divisions and disclose any conflicts of interest in our Conflicts of Interest Policy.

In this way, we create the basis for providing our clients with the greatest possible security and transparency. The expertise of one of the largest research teams in Germany and a balanced presentation of the opportunities and risks in our publications provide a solid foundation for investment decisions.

### Description of the Image

**Theme:** Business & Human Resources

1. **Main Subject:**
   - A business person, likely in a formal attire (such as a suit), is the focal point of the image. 
   - Their hand is extended outward with a palm facing upwards.

2. **Illustrations:**
   - The depiction of small human icons scattered around the image.
   - In the foreground, one of these icons is distinctly highlighted within a circular frame, suggesting focus or emphasis.

3. **Background:**
   - Blurred or soft-focus, maintaining attention on the subject and icons.

### Interpretation

- **Professional Context:**
  - The image likely represents concepts related to human resource management.
  - The highlighted human icon in the hand may signify recruitment, selection, or highlighting an individual within a group.
  - Symbols like this are often used for topics associated with leadership, talent acquisition, or team management.

### Possible Usage

- **Business Presentations:** Used in slides discussing 
team building, recruitment strategies, or showcasing leadership qualities.
- **Website Content:** Suited for pages focusing on consultancy services, employment agencies, or business solutions.
- **Marketing Materials:** Visuals for brochures advertising business workshops, HR services, or leadership programs.

Performance

Each and every one of us does amazing work. However, we can only develop our full potential when we work as a team. We appreciate the cooperation, the interaction and the exchange; the serve and the return. We have fun at work and even admit it. Because this fun increases our motivation to deliver top performances.

Top performance means substantiated forecasts, our own positions beyond the mainstream, exciting ideas for reports and new and diversified perspectives. But top performance doesn't just fall out of the sky: it goes without saying that we obtain feedback from our clients, continue to undergo further training and are open to new ideas.

We are pleased to receive awards for our forecasting quality. However, an appreciative word from a customer during a conversation, a positive comment in one of our portals or a silent thumbs-up from a colleague is just as nice. Then we know that we are on the right track and continue to do our best.

### Description of the Image

**Theme:** Business & Human Resources

1. **Main Subject:**
   - A business person, likely in a formal attire (such as a suit), is the focal point of the image. 
   - Their hand is extended outward with a palm facing upwards.

2. **Illustrations:**
   - The depiction of small human icons scattered around the image.
   - In the foreground, one of these icons is distinctly highlighted within a circular frame, suggesting focus or emphasis.

3. **Background:**
   - Blurred or soft-focus, maintaining attention on the subject and icons.

### Interpretation

- **Professional Context:**
  - The image likely represents concepts related to human resource management.
  - The highlighted human icon in the hand may signify recruitment, selection, or highlighting an individual within a group.
  - Symbols like this are often used for topics associated with leadership, talent acquisition, or team management.

### Possible Usage

- **Business Presentations:** Used in slides discussing 
team building, recruitment strategies, or showcasing leadership qualities.
- **Website Content:** Suited for pages focusing on consultancy services, employment agencies, or business solutions.
- **Marketing Materials:** Visuals for brochures advertising business workshops, HR services, or leadership programs.
The image depicts two clear glass fishbowls placed next to each other. 

In the
- **left bowl**, several goldfish can be seen swimming in water. One of these goldfish is captured in mid-air as it leaps out of the bowl, with water splashing around it, illustrating movement and a dynamic escape.

In the
- **right bowl**, there is no fish inside; the bowl appears empty, reflecting the simplicity of a vacant environment.

The contrast between the busy left bowl filled with goldfish and the empty right bowl conveys themes of escape, transition, or freedom. The image depicts two clear glass fishbowls placed next to each other. 

In the
- **left bowl**, several goldfish can be seen swimming in water. One of these goldfish is captured in mid-air as it leaps out of the bowl, with water splashing around it, illustrating movement and a dynamic escape.

In the
- **right bowl**, there is no fish inside; the bowl appears empty, reflecting the simplicity of a vacant environment.

The contrast between the busy left bowl filled with goldfish and the empty right bowl conveys themes of escape, transition, or freedom.

Courage

We have the courage to express our opinions, even if they are critical or challenge established practices. This also means swimming against the tide with our opinion, listening to outsider opinions and integrating them into an overall picture, choosing innovative approaches to new topics and revising opinions if necessary.

It takes courage to present opinions in front of 300 people at home and abroad, to seek open discussions with specialists on the client side, to face criticism, to address problems and to be able to react unprepared and flexibly to questions.

Courage forms the basis of our cooperation: with our customers and among our colleagues.

The image depicts a series of wooden dominoes aligned closely to one another in a linear fashion across a wooden surface. The dominoes are in the process of falling—but it appears that a person, dressed in business attire, has strategically placed their hand to stop the domino effect from continuing. This scenario metaphorically represents the concept of crisis intervention, prevention, or control, where an action is taken to prevent a chain reaction of negative outcomes. The person is wearing a suit, suggesting it could be indicative of business decision-making or leadership action.

Consistency

For us, consistency goes hand in hand with courage. When the environment in which we have built our overall picture of economic trends and developments in the financial markets changes, it takes courage and consistency to react to it, to act and to change opinions and forecasts.

Consistency is required to question assumptions, to trace the logic of our lines of reasoning and to put our analyses to the test at the time of preparation as well as retrospectively. Only in this way can we gain experience, learn from mistakes, draw better conclusions in the future and present our opinions to our clients in a credible and consistent manner.

The image depicts a series of wooden dominoes aligned closely to one another in a linear fashion across a wooden surface. The dominoes are in the process of falling—but it appears that a person, dressed in business attire, has strategically placed their hand to stop the domino effect from continuing. This scenario metaphorically represents the concept of crisis intervention, prevention, or control, where an action is taken to prevent a chain reaction of negative outcomes. The person is wearing a suit, suggesting it could be indicative of business decision-making or leadership action.