Digital developments have significantly affected the market environment over the last decade. A sense of urgency has put concepts related to business transformation in high demand. Among these concepts, a popular term has been business model innovation; the strategic and innovative re-arrangement of business activities.
My thesis revolved around business model innovation, and the opportunities and barriers that digitalization creates. This was done by:
- Academically mapping out what it means to transform a business with the help of digitalization.
- Studying a specific business case where digitalization was part of changing the business model.
- Identifying the gap between what theory stipulates and the business case at hand.
The objective of the thesis captured key drivers of business model innovation in the context of digitalization, noting that opportunities are primarily identified through an increased reach, scalability, and decision-support based on data collection. Barriers are often related to the organizational inability to implement digital changes on a business level.