Purpose/ Background The key resource for value creation in ambulatory healthcare is knowledge. Providers of ambulatory care are faced with knowledge-related challenges: Increasingly complex disease patterns and rapid medical innovation overwhelm their capacity to identify, generate, integrate, modify, diffuse and apply relevant knowledge. This results in reduced quality of care. Nevertheless, knowledge-based value creation has not been widely explored in ambulatory healthcare. Several research gaps explain: There are few publications regarding tools and methods for the management of knowledge resources in this context. Furthermore, the causal links between knowledge and organizational outcomes has not been theorized. A third major gap in the literature is the non-existence of frameworks for measuring knowledge-induced ambulatory healthcare performance. Against this backdrop, this dissertation attempts to answer the following overarching question: How can knowledge-based value creation be managed and measured in ambulatory healthcare? Design/ Methodology/ Approach This cumulative dissertation adopts a mixed-methods approach, i.e., each of the four included publications adopts a methodological approach appropriate to its topic and research question. The first publication narratively reviews major developments in Intellectual Capital (IC) and Knowledge Management theory. It benchmarks the new industry standard on Knowledge Management Systems (ISO 30401) against the previous literature by means of document analysis. Thereby it summarizes the state of research and practice regarding knowledge-based value creation. The second publication takes the form of a systematic literature review. In line with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, it summarizes the literature on Knowledge Management and performance in ambulatory healthcare. It compiles an overview of Knowledge Management practices which have been studied in the literature. Furthermore, it lists the indicators used to measure the impact of Knowledge Management on ambulatory healthcare performance and assesses their usefulness for further research and practice. The third publication explores the Knowledge Management-performance relationship by means of qualitative data analysis. Based on interviews with stakeholders from the ambulatory healthcare context, a toolbox of human-centered Knowledge Management methods and technical Knowledge Management tools for ambulatory healthcare is compiled. A conceptual model of the causal links between knowledge and organizational value creation is derived. The fourth and final publication uses social network analysis to measure Relational Capital in referrer networks of medical specialists in ambulatory settings. Using inferential statistics, it correlates Relational Capital with the economic performance of healthcare providers.   Findings The first publication shows that the “ISO 30401:2018 Knowledge Management Systems” standard successfully integrates the broad and heterogenous extant literature on Intellectual Capital and Knowledge Management. The standard creates a common language for this research field and provides guidelines for Knowledge Management Systems across geographical, industry and organizational settings. As it is intentionally neutral with regards to concrete Knowledge Management tools and methods, the challenge lies in the implementation of the standard in practice. The second publication is a systematic literature review on Knowledge Management and its effects on the performance of ambulatory healthcare providers. It reveals that the previous literature is narrowly focused on 6 types of Knowledge Management practices, namely Electronic Health Records, Health Information Systems, Clinical Decision Support Systems, Trainings, Communities of Practice and bundles of firm-specific Knowledge Management initiatives (“multi-faceted interventions”). In previous publications, these tools and methods were mostly studied in relation to healthcare quality, while other outcomes like financial performance, staff engagement and patient satisfaction were neglected. The third publication, an interview-based conceptual study, paints a different picture than the literature review. Practitioners use a much broader range of Knowledge Management initiatives than those studied in the literature. Specifically, self-learning tools such as apps and podcasts as well as immersive training sessions are used by ambulatory healthcare providers. Also, technical gadgets for speech recognition and automated data processing are used. Sector stakeholders also relate Knowledge Management initiatives to a much wider set of outcome dimensions than the academic literature. Financial performance, staff engagement and client (patient/ referrer) satisfaction were named as distal outcomes. According to the interviewees in the study, Knowledge Management initiatives have direct causal connections with these outcomes as well as indirect connections mediated by quality and efficiency. The fourth publication shows that Relational Capital in social-professional networks of medical specialists can be measured by social network metrics (degree, density, relative betweenness centrality, referrer concentration). Furthermore, empirical support for the relationship between the Relational Capital and economic performance of medical specialist offices is provided. Originality/ Value In summary, this thesis makes three key contributions to research: Firstly, it provides an overview of human-centered Knowledge Management methods and technical Knowledge Management tools for the ambulatory healthcare context. Secondly, it sheds light on the causal links between knowledge resources and value/performance delivered by ambulatory healthcare providers. Thirdly, it develops a measurement framework for Relational Capital. Finally, it points out a range of research questions worth exploring.:1 Introduction 1 2 Theoretical Premises 5 2.1 Definitions 5 2.1.1 Ambulatory Healthcare 5 2.1.2 Value in Ambulatory Healthcare 9 2.1.3 Knowledge 11 2.1.4 Knowledge Management 12 2.1.5 Intellectual Capital 18 2.2 The Resource-based View of the Firm 21 2.2.1 Historic Development 21 2.2.2 Key Criticisms 24 2.2.3 Applicability of the Resource-based View to Healthcare 24 2.3 Intellectual Capital Theory 27 2.3.1 Historical Development of Intellectual Capital Theory 27 2.3.2 Intellectual Capital Theory in (Ambulatory) Healthcare 37 2.3.3 Criteria for Constructing and Assessing Intellectual Capital Measurement and Management Frameworks 39 2.4 Knowledge Management Theory 41 2.4.1 Development of Knowledge Management Theory 41 2.4.2 Knowledge Management Theory in (Ambulatory) Healthcare 50 2.4.3 Criteria for Constructing and Assessing Knowledge Management and Measurement Frameworks 51 3 Methodology and Data 53 3.1 Thesis: Mixed Methods Approach 53 3.2 Methodology Publication 1: Narrative Review and Document Analysis 55 3.2.1 Methodological Considerations 55 3.2.2 Data and Analyses 56 3.2.3 Trustworthiness 56 3.2.4 Methodological Issues 56 3.3 Methodology Publication 2: Structured Literature Review 57 3.3.1 Methodological Considerations 57 3.3.2 Sampling and Data Collection 58 3.3.3 Trustworthiness 61 3.3.4 Methodological Issues 61 3.4 Methodology Publication 3: Interview-based Qualitative Data Analysis 63 3.4.1 Methodological Considerations 63 3.4.2 Interview Guide Development 63 3.4.3 Sampling and Data Collection 64 3.4.4 Analyses 66 3.4.5 Trustworthiness 67 3.4.6 Methodological Issues 67 3.5 Methodology Publication 4: Social Network Analysis and Inferential Statistics 69 3.5.1 Methodological Considerations 69 3.5.2 Metric Choice 69 3.5.3 Network Construction 73 3.5.4 Regression Methodology 73 3.5.5 Model Specification 76 3.5.6 Database and Software 82 3.5.7 Reliability and Validity 82 3.5.8 Methodological Issues 82 4 Publication 1: The ISO 30401 Knowledge Management Systems Standard – A New Framework for Value Creation and Research? 83 4.1 Abstract 83 4.1.1 Purpose 83 4.1.2 Design/ Methodology/ Approach 83 4.1.3 Findings 83 4.1.4 Originality/ Value 83 4.2 Introduction 84 4.3 Theoretical Background 85 4.3.1 Roots of Knowledge Management Theory 85 4.3.2 Knowledge and Value – the Resource-based View (before 1991) 86 4.3.3 Theory Development in the 1990s 86 4.3.4 Theoretical Diversification and Empirical Testing in the 2000s 88 4.3.5 Consolidation in the 2010s 88 4.3.6 Approaches to the ISO 30401 89 4.4 Structure and Content of the ISO 30401 – Knowledge Management Systems Standard 90 4.4.1 Structure of the ISO 30401 90 4.4.2 Knowledge Management System Requirements According to ISO 30401 90 4.4.3 Features of the Organizational Context Supporting the Knowledge Management System 93 4.4.4 Non-requirement Statements 93 4.5 Looking Back: Benchmarking the ISO 30401 Against the Literature 94 4.5.1 Nature of Knowledge Management 94 4.5.2 Knowledge Management Practices 95 4.5.3 Knowledge Management Enablers 97 4.5.4 Knowledge and Value Creation 99 4.6 Looking Forward: Maximizing Knowledge-based Value Creation 100 4.6.1 Operationalize the ISO 30401 Based on Empirical Evidence 100 4.6.2 Leverage Effects of Standardization on the Organization 101 4.6.3 Consider Market Forces 101 4.7 Conclusions 102 4.7.1 Synthesis of Findings 102 4.7.2 Contribution and Limitations 102 5 Publication 2: Knowledge Management as a Driver of Performance in Ambulatory Healthcare – a Systematic Literature Review Through an Intellectual Capital Lens 104 5.1 Abstract 104 5.1.1 Purpose 104 5.1.2 Design/ Methodology/ Approach 104 5.1.3 Findings 104 5.1.4 Originality/ Value 104 5.2 Introduction 105 5.3 Methods 106 5.3.1 Data Sources and Search Strategy 106 5.3.2 Quality Assessment Strategy 107 5.3.3 Inclusion and Exclusion Criteria 107 5.3.4 Data Extraction Methods 108 5.4 Findings 108 5.4.1 Search Results 108 5.4.2 Types of Knowledge Management Initiatives and Knowledge Management Impact on Intellectual Capital 109 5.4.3 Performance Dimensions, Indicators and Impact 133 5.4.4 Relevance, Validity and Feasibility of Indicators 134 5.5 Discussion 135 5.5.1 What Knowledge Management initiatives have been used by ambulatory healthcare providers and how do they influence Intellectual Capital? 135 5.5.2 How has Knowledge Management-induced performance been operationalized in ambulatory healthcare and what impact of Knowledge Management on performance has been observed? 136 5.5.3 How suitable are the indicators used in the literature for further research on Knowledge Management, Intellectual Capital and performance in ambulatory healthcare settings? 137 5.5.4 Implications for Research 138 5.5.5 Implications for Practice 139 5.5.6 Limitations 139 6 Publication 3: Developing a Conceptual Model for Knowledge Management and Organizational Success in Ambulatory Healthcare 140 6.1 Abstract 140 6.1.1 Purpose 140 6.1.2 Design/ Methodology/ Approach 140 6.1.3 Findings 140 6.1.4 Originality/ value 140 6.2 Introduction 141 6.3 Related Literature 142 6.3.1 Definition: Fluid Nature of Knowledge 142 6.3.2 Definition: Business Process-Oriented Knowledge Management 142 6.3.3 Knowledge Management in Ambulatory Healthcare 143 6.4 Methodology 144 6.4.1 Sample: Two Sets of Semi-structured Interviews 144 6.4.2 Method: Qualitative Content Analysis (“Coding”) 145 6.5 Findings 145 6.5.1 Process-oriented Taxonomy of Knowledge Management Methods and Tools for Ambulatory Healthcare 145 6.5.2 Conceptual Model of Knowledge Management-induced Ambulatory Healthcare Performance 149 6.6 Discussion 154 6.7 Conclusion 156 7 Publication 4: Relational Capital in Referrer Networks of Medical Specialists in Office Settings 158 7.1 Abstract 158 7.1.1 Purpose 158 7.1.2 Design/ Methodology/ Approach 158 7.1.3 Findings 158 7.1.4 Originality 158 7.2 Introduction 159 7.3 Literature-based Hypothesis Development and Variable Selection 161 7.3.1 Dependent Variable: Economic Performance 162 7.3.2 Independent Variables: Network Characteristics 162 7.3.3 Control Variables: Characteristics of the Organization 166 7.4 Methods 167 7.4.1 Data Source 167 7.4.2 Constructing Medical Specialists’ Networks 167 7.4.3 Statistical Analyses 168 7.5 Findings 168 7.5.1 Sample Characteristics and Descriptive Statistics 168 7.5.2 Correlation of Network Characteristics with Practice Performance 170 7.6 Discussion 173 7.7 Conclusion 174 7.7.1 Contributions to the Literature 174 7.7.2 Implications for Practice 174 7.7.3 Limitations 175 7.7.4 Opportunities for Future Research 176 8 Discussion and Conclusion 177 8.1 Summary of the Results of the Thesis 177 8.2 Contributions to Research 178 8.2.1 Topic 1: Management of Knowledge Resources 178 8.2.2 Topic 2: Knowledge and Value Creation 179 8.2.3 Topic 3: Knowledge (Performance) Measurement 180 8.3 Implications for Practice 181 8.4 Limitations 183 8.5 Opportunities for Future Research 183 8.6 Conclusion 185 9 Appendix I: Questionnaire for Publication 3 (Physician Version) 186 10 Appendix II: Code Counts from the Second Interview Cycle (Publication 3) 192 11 Publication bibliography 198

Background: In recent years, more and more municipalities have started to publish more and more Open Government Data (OGD) and, in relation to this, the number of users of this data has also increased. But while the publication and use of data has increased, there is still a lack of understanding of who uses the data and for what purpose. Furthermore, the municipalities have also had little control over what values are created with the help of the data that is published and in particular environmental values, which makes it of great interest to investigate. Aim: The thesis aims to investigate the use of Open Government Data (OGD) in Swedish municipalities and explore how it contributes to creating environmental values after it has been implemented, who is using OGD, and for which reason OGD is used. To investigate this following research questions were used: Who uses municipal open data resources and for what purposes? What environmental values are created through the use of OGD in Swedish cities and municipalities where it has been implemented? Method: This paper applies the qualitative research methodology. To collect data for the paper, semi-structured interviews with both private individuals and employees in Swedish municipalities were used, which were conducted digitally via Zoom with video and audio. In relation to the interviews, secondary data was also collected from Dataportal.se in the form of a large number of datasets consisting of metadata. The collected data was analyzed through a thematic analysis and two different frameworks. In total, 11 interviews were conducted and about 400 datasets were collected as a basis for the work. The key findings and conclusion: reveal that various stakeholders, including individuals, companies, schools, and municipalities, are major users of OGD. Municipalities mainly use OGD for decision-making and to increase transparency with citizens, while individuals, companies, and organizations utilize it to increase transparency, make informed decisions, and influence events. Transparency, informed decision-making, and empowerment can be seen as shared benefits observed among the municipalities and individuals using OGD. The main environmental values created through OGD include resource minimization (e.g., reducing food waste), air quality monitoring, infrastructure planning, and waste management where OGD enables citizens to work with municipalities towards environmental policies and goals, promoting engagement and informed decision-making.

This publication-based dissertation concerns the syndication and value creation activities of heterogenous corporate venture capital funds over six chapters. The first chapter serves as an introduction to venture capital heterogeneity and syndication and provides an overview of the four research papers included in the dissertation. The second chapter is a systematic literature review of recent research on heterogeneous venture capital syndication. Therein the underlying motivation, dynamics and results of fund- and affiliation-heterogenous syndicates are clearly identified, integrated and promising avenues for further research are specified. The third chapter is a research paper on the value creation activities of investment syndicates among independent and corporate venture capital funds. Building on a cross-industry sample of 35 interviews this inductive study identifies the determinants of value creation, integrating them in a matrix comprising shareholder relationships, corporate setup, venture lifecycle and deal terms. Chapter four is a research paper that empirically observes how corporate venture capital units leverage the resources of their incumbent parents to generate value for their portfolio firms. Based on case studies of 11 corporate venture capital units the paper reveals the mechanism behind corporate venture capital value creation holistically and identifies eight design elements that result in a typology of four distinctive archetypes. The last research paper is chapter five and concerns the distinct impact structurally heterogeneous corporate venture capital funds have on portfolio firms operating efficiency. Employing the longitudinal, European Union sponsored VICO dataset the paper finds differences in CVC structure, autonomy and objectives to have implications on firm efficiency. The present dissertation is concluded in the sixth chapter, highlighting contributions, limitations and promising avenues for further research.

Denna uppsats undersöker värdet av att inkludera hållbarhet och ESG i en due diligence-process inom kontexten för internationella företagsförvärv. Ett konsultperspektiv tillämpades på grund av externa rådgivares vidsträcka erfarenhet och insyn i denna relativt nya process. Analysen har utgått från två kompletterande perspektiv på värdeskapande, Gemensamt värdeskapande och Stakeholder Value Creation Model med rötter inom Intressentmodellen. Genom kvalitativ metod och semi-strukturerade intervjuer med konsulter med hållbarhetsprofil har perspektiv kring värdeskapande i samband med ESG due diligence framkommit. Analysen visar att potential för värdeskapande på längre sikt finns men att det kortsiktiga värdeskapandet är begränsat. Mindre fördelaktiga ESG-resultat hos målföretaget kan översättas till värdeskapande möjligheter. / This essay examines the value of incorporating sustainability and ESG factors in a due diligence process within the context of international acquisitions. A consulting perspective was applied due to external advisors'  extensive experience and insight into this relatively new process. The analysis has been based in two complementary perspectives on value creation, Shared Value Creation, and the Stakeholder Value Creation Model rooted in the Stakeholder Model. Through qualitative methods and semi-structured interviews with consultants specializing in sustainability, perspectives on value creation related to ESG due diligence have emerged. This analysis indicates that there is potential for long-term value creation, but short term value creation is limited. Less favorable ESG outcomes in the target company can be translated into value creation opportunities.

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Digitalization as a driving force in the AEC industry is no longer a new subject when talking about accelerating innovation and solving environmental challenges. Traditional approaches can limit some of these outcomes and typically imply that many issues that could have been predicted with early involvement of stakeholders, are recognized in much later stages of the project at great expense. In a long run outlook, the operational phase of a building is notably the most demanding if accounting the lifecycle perspective of a building. Still, why is O&M lagging in adopting integrated models? This thesis approaches this subject from the assumption that Information Management plays a strategic role to oversee the different demands, urgencies and use from both sides.  The first theoretical framework used was Lean Management’s main premise that value is created through the identification of waste in a continuous improvement process. The second theoretical framework presented was to analyze the findings with the intention to simulate an optimal context for information flow and understand where the biggest bottlenecks are. The findings show that the perceived value on the information added is low from actors actually feeding the model, a bit higher from project managers but an essential part of information managers responsibility. Main issues related to digitalization were directly linked to the lack of communication between teams, lack of standards across different teams as well as difficulty in finding effective and accurate information. Practical issues with high information models related by the industry also demonstrate a necessity of more roles focused on information management. A model based on the five principles of Lean Management is in equivalence to Information Management is presented and then inserted as enablers for a continuous improvement cycle. Based on the findings, further research can evaluate in more detail the view from operational teams towards information management roles. / Digitalisering som en drivande kraft i AEC-industrin är inte längre ett nytt ämne när man talar om att påskynda innovation och lösa miljöutmaningar. Traditionella tillvägagångssätt kan begränsa vissa delar av resultatet och många frågeställningar som kunde ha besvarats genom ett tidigt engagemang av intressenter, blir lösta i mycket senare skeden av projektet, till stora kostnader. På lång sikt är driftsfasen i ett byggprojekt den mest krävande när man tittar på livscykeln av en byggnad. Så varför ingår inte O&M i integrerade modeller? Denna uppsats tar sig an detta ämne utifrån antagandet att informationshantering spelar en strategisk roll för att övervaka de olika kraven, hur brådskande det kan vara och användningen från båda sidor. Den första teoretiska utgångspunkten som användes var Lean Managements huvudsakliga premiss att värde skapas genom identifiering av avfall i en kontinuerlig förbättringsprocess. Den andra teoretiska utgångspunkten som användes var för att analysera resultaten med avsikten att simulera ett optimalt sammanhang för informationsflöde och förstå var de största flaskhalsarna låg. Resultaten visar att det upplevda värdet på den tillagda informationen är lågt från aktörer som faktiskt matar modellen, lite högre för projektledare men en viktig del av informationschefernas ansvar. Problemen relaterade till digitalisering var direkt kopplade till bristen på kommunikation mellan team, brist på standarder mellan olika team samt svårigheter att hitta effektiv och korrekt information. Praktiska problem med informationsmodeller relaterade till branschen visar också att det behövs fler roller som fokuserar på informationshantering. En modell baserad på Lean Management fem olika principer är i likhet med Information Management-praxis och presenteras och infogas sedan som möjliggörare för en kontinuerlig förbättringscykel. Baserat på resultaten kan vidare forskning utvärdera mer detaljerat synen från operativa team mot informationshanteringsroller.

Considering that technology is developing at a rapid pace, the venture capital landscape changes due to R&D and product maturity life cycles shortening dramatically compared to 50 years ago, thus impacting the portfolio of a VC and its future investment opportunities. However, this relationship between digitalization and venture capital remains underexamined in literature. The research problem is thus to explore how venture capital and the industries it backs have been shaped by digitalization and thus deep tech within the context of Europe. The literature review as a method is examining mechanisms propelled by the digitalization behind the top five VC-backed industries between 2015- 2019 in Europe. In this research, deep tech is a major factor as to why industries have been the most heavily invested in due to their predicted potential exploiting the use of digital technologies. Further research should explore this relationship deeper through obtaining primary data with a quantitative approach to strengthen the implications of the findings. / Med tanke på att tekniken utvecklas i snabb takt förändras riskkapitallandskapet på grund av FoU och produktmognadets livscykler som förkortas dramatiskt jämfört med för 50 år sedan, vilket påverkar portföljen för en VC och dess framtida investeringsmöjligheter. Detta förhållande mellan digitalisering och riskkapital förblir emellertid inte undersökt i litteraturen. Forskningsproblemet är alltså att undersöka hur riskkapital och de industrier det stöder har formats av digitalisering och därmed djup teknik inom Europa. Litteraturöversynen som metod undersöker mekanismer som drivs av digitaliseringen bakom de fem främsta VC-stödda industrierna mellan 2015-2019 i Europa. I denna forskning är djup teknik en viktig faktor för varför industrier har varit de mest investerade i på grund av deras förutsagda potentiella utnyttjande av digital teknik. Ytterligare forskning bör undersöka detta förhållande för djupare förståelse genom insamlad primärdata och en kvantitativ metodik för att stärka konsekvenserna av resultaten.

Recent studies on the Service-Dominant (S-D) logic perspective highlighted the importance of customer value. In this perspective, value is seen to be created, determined, and perceived by the customer through use or `value-in-use', which directly highlights the importance of customer participation in the service delivery process. This study used the Vargo and Lusch (2016) practice approach to understand how customers perceive the use of the self-checkout system and how value co-creation impacts the use of the self-checkout system in retail stores. This study carried out qualitative research on a retail store in Sweden, and data was collected using a semi-structured structured interview. The thematic approach was used to identify, analyze, and report patterns within the data. The data were further categorized into four themes – Convenience, Need for Communication, Cooperation, and Intention to Co-create. The result highlighted the factors influencing customer perception and intention toward the self-checkout system. The study further showed that customer’s intention to co-create is recognized as an effective practice in SST, and customer co-creation intention in SST is essential in determining their co-creation practices  Overall, this study showed that customer perceived value is determined by customer participation.

The interest for blockchains and cryptocurrencies, like Bitcoin, from corporations, policymakers and individuals continues to increase. Due to its rapid growth in adoption, this technology can no longer be ignored. However, researchers have mainly been focused on the technical details of Bitcoin while the business and managerial opportunities have received little attention. This is especially true when looking at Bitcoin mining, the very fundamental operation that protects and maintains the network. Initiatives from the commercial sector are abundant as companies scramble to gain a competitive advantage in this industry but their business models and strategies are unexplored by modern literature. The thesis aims to contribute with knowledge to fill this gap in literature by studying the business models of Bitcoin mining and investigate their sustainability. This thesis is a case study with embedded units of three Swedish companies in the Bitcoin mining industry together with the commissioner company. The findings show that all companies have developed sustainable business models with very different approaches to value creation. In an industry marked by high dependence on volatile externalities, vertical integration of electricity production was shown to be a successful business model strategy for capturing value. Furthermore, the study highlights that such a strategy opens the possibility for a Bitcoin miner to create or take part in a private financial ecosystem of bitcoin that is largely disconnected from the traditional economy of local fiat currencies. The result of this study makes three contributions to literature. Firstly, the findings contribute to knowledge on the economics and the business models of the Bitcoin mining industry. Secondly, the thesis contributes by applying the business model strategy of vertical integration on the Bitcoin mining industry and showing that it can help companies create value. Lastly, the thesis contributes by developing the Business 2 Protocol (B2P) model for describing the dynamics of the Bitcoin mining industry. / Intresset för blockkedjor och kryptovalutor som Bitcoin från företag, lagstiftare och individer fortsätter att öka i snabb takt. Den snabba adoptionstakten som vi nu ser kan denna teknik inte längre förbises. Trots detta har nuvarande forskning främst fokuserat på de tekniska detaljerna kring Bitcoin medan de affärsmässiga möjligheterna i det stora hela har förbisetts. Detta gäller speciellt Bitcoin mining, den fundamentala verksamhet som skyddar nätverket och får det att fungera. Det finns gott om kommersiella initiativ i branschen där företag skyndar sig in i branschen för att etablera sig och försöker etablera marknadsmässiga övertag med affärsmodeller och strategier som är outforskade av den moderna forskningslitteraturen. Målet med denna uppsats är att utforska detta gap i litteraturen genom att studera affärsmodellerna hos Bitcoin mining och undersöka hur hållbara de är ur ett miljömässigt och finansiellt perspektiv. Det här examensarbetet är en studie av tre svenska företag inom Bitcoin mining branschen. Resultaten pekar mot att företagen i studien har arbetat med att utveckla hållbara affärsmodeller genom att närma sig värdeskapande från olika ingångsvinklar. I en bransch som är präglad av högt beroende av volatila externaliteter så har vertikal integration av energiproduktion visats vara en framgångsrik affärsstrategi för att skapa värde. Vidare så visar studien att en sådan strategi möjliggör för en Bitcoin miner att skapa eller ta del av ett privat finansiellt ekosystem av bitcoin som till stor del är frikopplat från den traditionella ekonomin av lokala fiatvalutor. Resultaten från det här examensarbetet gör tre bidrag till den befintliga litteraturen. För det första så bidrar det med kunskap om ekonomin och affärsmodellerna kopplade till Bitcoin mining branschen. Vidare så visas hur en strategi med en vertikalt integrerad affärsmodell kan användas för värdeskapande inom Bitcoin mining. Slutligen så utvecklas modellen Business 2 Protocol (B2P) för att beskriva dynamiken som finns i Bitcoin mining branschen.

Today, sustainability has become a central part of every recent global agenda. As the world is establishing a more sustainable path, professional service firms have started setting up new targets and goals to meet the changing demands and regulations of governments, societies, and investors. In an initiative to create sustainable long-term value for multiple stakeholders, professional service firms are investigating alternative approaches to value creation and competitiveness in a previously unknown market. This has proven to be challenging as value today is often measured in short-term sales and income and long-term value is often overlooked in the business model and the project selection processes.  The aim of the study was to identify and evaluate the challenges professional service firms face when incorporating sustainable value creation into their business model and also to suggest actions to create competitiveness in a previously unexplored market of sustainable value creation. An abductive case study was performed on a large professional service firm. The data collection consisted of 10 semi-structured interviews with company representatives of different ranks. Additionally, a survey with 30 respondents from the case company was carried out. The study concludes that challenges related to sustainable value creation include; incorporating clear measurement and reporting systems in terms of the triple bottom line, transforming Value Uncaptured to Value Captured, lowering the perceived risk of sustainability incorporation, and convincing the right people to make the right decisions. Moreover, the study elicits a framework for sustainable value creation that professional service firms can use as a tool to incorporate sustainability into the business model.  In order to create competitiveness in the new market of sustainable value creation, professional service firms could incorporate sustainable value creation, through the assessment of tangible and intangible assets in all business cases and offerings, and thereby work proactively to meet future demands. This will create competitiveness through a first mover advantage. / På senare tid har hållbarhet blivit en central del av varje global agenda. I samband med att världen lägger mer fokus på hållbarhet har professionella tjänsteföretag börjat sätta upp nya mål för att bemöta de förändrade kraven och reglerna från beslutsfattare i samhället och investerare. I ett initiativ för att skapa hållbart långsiktigt värde för flera intressenter undersöker professionella tjänsteföretag alternativa tillvägagångssätt för att skapa värde och förbli konkurrenskraftiga i den outforskade marknaden. Detta har visat sig vara utmanande då värde idag ofta mäts i kortsiktig försäljning och inkomst och långsiktigt värde ofta förbises i affärsmodellen och projekturval processerna. Syftet med studien var att identifiera och utvärdera de utmaningar som professionella tjänsteföretag står inför när de införlivar hållbart värdeskapande i sin affärsmodell och även att föreslå åtgärder för att skapa konkurrenskraft på en tidigare outforskad marknad för hållbart värdeskapande. En abduktiv fallstudie utfördes på ett stort professionellt serviceföretag. Datainsamlingen bestod av 10 semistrukturerade intervjuer med företagsrepresentanter av olika rang. Dessutom genomfördes en undersökning med 30 respondenter från fallstudieföretaget. Studien drar slutsatsen att utmaningar relaterade till hållbart värdeskapande inkluderar; introduktionen av tydliga “triple bottom line”-baserade mät- och rapporteringssystem, omvandling av “Value uncaptured” till “Value captured”, reducering av den upplevda risken för hållbarhets inkorporering samt att övertyga rätt personer att fatta rätt beslut. Vidare, summeras studien i ett ramverk för hållbart värdeskapande som professionella tjänsteföretag kan använda som ett verktyg för att uppnå hållbarhet i affärsmodellen. För att skapa konkurrensfördelar på den nya marknaden för hållbart värdeskapande kan professionella serviceföretag inkorporera hållbart värdeskapande, genom bedömningen av materiella och immateriella tillgångar i alla affärsfall och erbjudanden, och därigenom arbeta proaktivt för att möta framtida krav. Detta skulle kunna skapa konkurrenskraft genom en ”först till marknad” fördel.