The saturation of markets due to globalization has caused a need for digital evolution of organizations to generate innovative manufacturing practices to assure sustained competitive capabilities. Even though technological capabilities have the impact to generate competitive capabilities strategic implementation is a must for optimal performance. The phenomenon of digital transformation and relating strategic efforts are subject to greatly varying viewpoints which has made it challenging for manufactures to engage with digital transformation. The purpose of the thesis is to decipher the phenomenon digital transformation and to further identify the vital aspects of approaching digital transformation strategies through analysing literature and manufacturing companies. In order to fulfil the purpose of this research project two research questions was formulated: • RQ 1: Which are the crucial aspects of digital transformation? • RQ 2: How should digital transformation strategies be approached? This thesis is a part of digital transformation coordination project which include four industrial partners. The case companies were therefore set before the initiation of this thesis with including work packages. A literature review was performed to generate an understanding of the different viewpoints and to provide the case companies with an academic insight. Empirical findings were established through the gathering of data through observations during project meetings and the through the use of questionnaires. An analysis was conducted by comparing the different datasets. Establishing a frame of reference were vital in understanding the scattered phenomenon of digital transformation. Through identifying the contents of Industry 4.0 subsequent digital transformation and related strategical efforts provided the thesis with a profound theoretical support. The empirical findings provided the thesis with an understanding of how four different manufacturing companies viewed digital transformation. The different state of digital transformations was identified with additions to stating the possibilities and challenges. The crucial aspects of digital transformation were found through analysing the different views and meanings of digital transformation, presenting technology, and organizationally driven digital transformation and finally the fundamental aspects of digital transformation. A sound approach for manufacturers to strategize digital transformation was found through analysing the key factors of digital transformation strategies and the current constraints of digital transformation strategies. Furthermore, a discussion of additional themes which does not apply to the research questions were found to be the cause of digital transformation disparity throughout the case companies and the communication of digital transformation. The crucial aspects of digital transformation are found to be the identification of internal and external company objects that require a holistic, organizational changing continuous process. Which furtherutilizes the potential of novel disruptive technologies to develop novel business practices to generate value and competitive competences. A sound approach towards digital transformation strategies is suggested to be through generating a current state understanding to recognize the appropriate activities that must be performed and understanding the financial aspects of said activities and formulating them in a practical holistic way to assure adequate organizational support. Furthermore, understanding and communicating each strategical phase is vital to assure that the organizational aspects can support the digital transformation.

Background: Companies in their search for value creation face different challenges when undertaking digital transformation (DT). Incumbent firms struggle differently than smaller-sized or newer firms because of their characteristics. Therefore, there is a growing interest in defining what types of challenges incumbents face, and understanding what the viable strategies are, necessary to implement digital strategies efficiently. For instance, knowledge exploration and exploitation are key to DT, affecting the recombination of knowledge in different degrees, therefore, also impacting the reach and efficacy of DT itself. Hence, the understanding of knowledge creation, its sharing, and application in the setting of incumbent firms must be improved, providing a better understanding of how digital technologies can be effectively implemented within these types of firms.  Purpose: The purpose of this study is to characterise the challenges that incumbents face during their DT journey, as well as to provide suggestions of strategies to adapt to them. This work also illustrates the role and importance of knowledge exploration and exploitation, and recombination throughout the firm. The goal of the study is to provide a framework for undertaking DT successfully.  Method: The present study applied an inductive qualitative research approach with a single case study research design. The case study company was Telia Infra and included interviews with ten managers from all its different departments. The interviews were of a semi-structured nature to allow flexibility in the interview design.   Conclusion: The highlights of the study’s outcomes are: (i) the disclosure of a relationship between barriers during DT and the digital maturity of the department, showing that knowledge sharing activities are beneficial in the longer term. (ii) A human-centric driven DT strategy, balancing explorative and exploitative activities is incredibly positive for the DT journey. This drives for (iii) exponential change strategies which results in more favourable environments for overcoming barriers and enabling DT.

In the industrial sector, next generation technologies are being rapidly developed. One of the promising technologies is cyber-physical systems which are being used to revolutionize the welding process. A cyber-physical system can greatly improve the welding processes by taking over the tasks performed by humans, such as analysis, control and sensing which results in increased efficiency, quality, and stability of the welding process. However, integrating cyber-physical systems in the welding process requires a digital transformation strategy that outlines how organizational and technical challenges are intended to be resolved. The aim of the study is to identify the organizational challenges of integrating cyber-physical systems, and how to overcome them with the use of a digital transformation strategy. For this, the study adopts a qualitative case study approach to investigate the organizational challenges of integrating a cyber-physical system in the welding process of a large manufacturing organization. Further, it outlines aspects required in a digital transformation strategy to succeed with the integration.  The findings indicate that common challenges when integrating cyber-physical systems revolve around building secure networks, securing competencies, committing to the integration, and achieving transparency between management and employees. In addition, when formulating a digital transformation strategy, the findings indicate three factors that contribute to the success of the transformation. These are involvement of critical digital skills, undergoing required structural changes and reengineering organizational work processes where the cyber-physical system aims to be integrated.  Besides providing practical implications for the challenges and formulation of a digital transformation strategy for implementing cyber-physical systems in the welding process, the study contributes to the literature on digital transformation strategy and cyber-physical systems in manufacturing organizations.

The face of banking has changed dramatically over the last few decades, and in no area does this statement hold more true than in the domain of digitalization. One term that has been relentlessly repeated when discussing the past, present and future of this development is ”Digital Transformation”. Digital Transformation can be tersely defined to mean change driven by digital technologies, with the potential to increase efficiency in existing processes, as well as to allow for new and novel technology-driven problem solutions and business models. Despite the fact that Swedish major banks have come a long way in their digital transformation efforts, there is a lot of evidence that points towards this process not proceeding fast enough. This study is an effort to get a general overview of the main barriers and mechanisms that are causing this development to proceed at a slower rate than might otherwise be desired, and to investigate how actors within the Swedish banking sector are seeking to overcome said barriers. This is done primarily through the interviewing of key personnel within major Swedish universal banks. The majority of the interviews are conducted with employees from a single major Swedish universal bank, taking the form of a case study, while a smaller number of interviews are conducted with individuals associated with other banks, in an effort to provide increased generalizability. The results of the study show that barriers standing in the way of continued digital transformation in the Swedish banking sector can generally be categorized into one of the following categories: Legacy Infrastructure, Organizational Structure, Organizational Culture, Incentive Structure, Resource Insufficiency, Regulation, and Failure in Management. The solutions and models discussed to address these issues included API First approaches, change driven through Cross-Functional Teams, and Collaborative Strategy Formulation. / Hur bankverksamhet bedrivs har förändrats dramatiskt över de senaste årtiondena, och i inget område är detta lika tydligt som när det kommer till digitalisering. Ett begrepp som ständigt upprepas när man beskriver den forna, nutida och framtida utvecklingen av den här typen är ”Digital Transformation”. Digital Transformation kan kortfattat summeras till att betyda förändring driven av digital teknologi, med potential att öka effektiviteten i befintliga processer, samt möjliggöra för nya problemlösningar och affärsmodeller. Trots det faktum att de svenska storbankerna har kommit en lång väg i sina digitala transformationsinitiativ, så finns det mycket som tyder på att denna process ändå inte går tillräckligt snabbt frammåt. Den här studien är ett försök att få en generell överblick på de primära barriärerna och mekanismerna som orsakar att denna utveckling går långsammare än önskat, samt att undersöka hur aktörer inom den svenska banksektorn har för avsikt att bemöta dessa problem. Detta görs huvudsakligen genom intervjuer med nyckelpersonal inom de svenska storbankerna. Majoriteten av de intervjuade kommer från en enda bank, där en form av casestudie utförs, medan ett mindre antal intervjuer genomförs med individer tillhörande andra banker, i en ansats att ge ökad generaliserbarhet. Resultatet av studien visar att barriärer som står i vägen för fortsatt digital transformation i den svenska banksektorn kan generellt kategoriseras in i följande kategorier: Föråldrad Infrastruktur, Organisationsstruktur, Organisationskultur, Incitamentstruktur, Resursbrist, Regulation, och Misslyckanden i Styrning. De lösningar och modeller som diskuterats for att adressera dessa problem inkluderade API First-baserade tillvägagångssätt, förändring driven av tvärfunktionella arbetslag, samt kollaborativ strategiformulering.

Digital transformation is an advancement in the wake of digitalization and have affected many industries and organizations during the recent decade. Due to both internal and external factors, this transformation is currently hitting the financial institutions and the asset management industry. Pressure from newcomers in the industry that have utilized the new technology and are taking over market share from larger banks. For asset managers to be able to hold on to their position in the market they will have to develop firm and sustainable digital strategies alongside the technological development. Regulations are toughening the industry and it is ever as important to report correct information about all your products. This thesis project will focus on asset managers who are facing such digital transformation and look at the key drivers of the digital strategy. The research was conducted via a qualitative method using interviews to gain further understanding of what the key driver are and the issues a legacy technical system can have on a team in asset management. The results found indicates the importance of adopting a digital strategy that is fit for the digitalization wave happening in the industry. Three main drivers were found to be most relevant, Human Capital, Digitalization \& Technology, and External Factors. The importance to focus on these three drivers when constructing the digital strategy is argued. The analysis has been in cooperation with an asset manager, however the digital strategy drivers could also be applied on other industries that are facing digital transformation. / Digital transformation är en fortsättning av vågen av digitalisering och har påverkat många industrier och organisationer det senaste årtiondet. Både på grund av interna och externa faktorer så har den här transformationen nätt finansiella institutioner och asset managementindustrin. Press från nykomlingar i industrin har utnyttjat nya teknologier och har börjat ta över marknadsandelar från bankerna. För att asset managers ska lyckas hålla kvar i sin dominanta position i marknaden så måste de utveckla starka och hållbara digitala strategier tillsammans med den tekniska utvecklingen. Regelverk blir allt tuffare i industrin och det blir allt mer viktigt att rapportera korrekt information om alla sina produkter. Det här examensarbetet kommer fokusera på asset managers som just nu möter sådan digital transformation och kommer titta på vad som är de viktigaste aspekterna i den digitala strategin. Arbetet har genomförts med kvalitativa metoder i form av intervjuer för att samla vidare information om vad som är just de viktigaste aspekterna. även analysera dem problemen som kan uppstå med förlegade tekniska system inom asset management. De funna resultaten indikerar vikten av att anamma en digital strategi som är passande den digitaliserings våg som just ni sker i industrin. De tre huvudaspekterna som hittades var, Det Mänskliga Kapitalet, Digitalisering & Teknologi och Externa Faktorer. Vikten av att fokusera på dessa tre aspekter när man konstruerar den digitala strategin har diskuterats. Analysen har gjorts i samarbete med en asset manager, men dessa huvudaspekter kan också bli applicerbara i andra industrier som möter digital transformation när man utvecklar den digitala strategin.