Bakgrund: Övergången från en linjär till cirkulär ekonomi är något som har adresserats på en global nivå. SMF står för 56% av den svenska sysselsättningenoch är därmed en stor faktor i den svenska omställningen till en cirkulär ekonomi. För att kunna ställa om till en cirkulär ekonomi krävs det att de cirkuläraföretagen har tillgång till finansiering. Det finns en stor mängd forskning om olika typer av cirkulära affärsmodeller och hur de påverkar ett företags operativa verksamhet. Det finns även mycket forskning kring de finansiella förutsättningarna för SMF. Något som inte diskuteras lika mycket är hur de finansiella förutsättningarna ser ut för cirkulära affärsmodeller i SMF. Syfte: Syftet med denna uppsats är att kartlägga hur de finansiella förutsättningarna för att implementera och driva cirkulära affärsmodeller ser ut i svenska SMF. Metod: Studien är en kvalitativ tvärsnittsstudie som är utförd med en abduktiv ansats och med realism som vetenskaplig utgångspunkt. Det empiriska materialet har samlats in via semistrukturerade intervjuer med nio respondenter från olika SMF med cirkulära affärsmodeller och en respondent från ett finansieringsinstitut. Ett målstyrt urval har använts som urvalsmetod för att identifiera företag och respondentpersoner i relevanta positioner som skulle kunna bidra till studiens syfte. Slutsats: Resultatet av studien visar att SMF med cirkulära affärsmodeller skiljer sig i vissa avseenden gentemot linjära SMF när det kommer till finansiella förutsättningar. Cirkulära SMF:s finansiella implikationer kan medföra särskilda utmaningar som begränsar deras tillgång till finansiering, men det finns även implikationer som agerar som möjliggörare. De finansiella förutsättningarna skiljer sig mellan olika typer av cirkulära affärsmodeller i vissa avseenden, men förutsättningarna kan även skilja sig beroende på andra faktorer såsom ålder och storlek. / Background: The transition from a linear to a circular economy is being addressed on a global level. SMEs account for 56% of Swedish employment and are thus a major factor in the Swedish transition to a circular economy. Transitioning from a linear economy to a circular economy requires that thecircular businesses have access to financing. There is a large body of research on different types of circular business models and howthey affect a company's operational activities. There is also plenty of research on the financial preconditions of SMEs. There is however a lack of research on the financial preconditions for circular business models in SMEs. Research aim: The aim of this paper is to identify the financial preconditions for implementing and operating circular business models in Swedish SMEs. Method: The study is a qualitative cross-sectional study conducted with an abductive approach and with realism as a research paradigm. The empirical material was collected via semi-structured interviews with nine respondents from different SMEs with circular business models and one respondent from a financial institution. Targeted sampling was used as a sampling method to identify companies and respondents in relevant positions that could contribute to the aim of the study. Findings: The results of the study show that SMEs with circular business models differ in some respects from linear SMEs in terms of financial preconditions. The financial implications of circular SMEs may pose specific challenges that limit their access to financing, however there are also implications that act as enablers. Financial preconditions differ between different types of circular business models in some respects, but preconditions may also differ depending on other factors such as age and size of the enterprise. / Mistra REES

Background  AI adoption is increasing, and the highest increase of AI is seen in service functions, followed by product applications. Moreover, the patent filing is rapidly increasing showing high interest in the technology. Product-based firms developing AI technology may need to develop their business model as a result of the introduction of AI. Research aim This thesis aims to explore how product-oriented companies innovate the business model based on AI development. More specifically, how these technological opportunities can, create value, deliver value, and capture value as a result.    Method This thesis follows a qualitative strategy, mainly being explorative. The thesis follows a single case study approach of Axis Communications. Data collection was mainly conducted with semi-structured interviews. Findings The value creation of AI development is described based on functions and the value-added. The value delivery explores key capabilities of the data pipeline, algorithm development and partners. The value capture described the sales model and compares AI-related solutions with competitors. Conclusions The study concludes that AI-based solutions can be an attributing factor for a product-based company to innovate the business model towards a more service and partner-oriented business model. Keywords: Artificial intelligence, Internet of things, Digital servitization, Business model innovation, Business ecosystem

One of the most important sources of the world development is energy and Battery energy storage systems (BESS) have emerged as crucial components in transitioning from conventional energy systems to more sustainable and environmentally friendly alternatives. Despite BESS’s importance, the dissemination of knowledge about how this technology function has not kept pace with its market development. Bridging this knowledge gap has become imperative, and addressing this challenge, battery diagnostics emerges as a viable solution. In this way, by investigating alternative sales channels, specifically the utilization of resellers, the current study aims to enhance the market penetration strategy for the optimal integration of battery diagnostics software within specific ecosystems. It was explored both the potential benefits and challenges associated with this business model resulting on the design of such strategy though literature investigation combined with market experts interviews. Additionally, it was evaluated the financial implications by considering the Total Cost of Ownership (TCO) for electric bus owners, which sector showed a high degree of readiness for such technological integration. As a result, it was revealed up to 33.24% in TCO reduction through the implementation of this solution, with maintenance costs playing a pivotal role on this process reaching up to 19.72% on one of the simulated cases, while the battery life extension achieved a reduction of up to 15.17% in another case, confirming the substantial advantages of adopting battery diagnostics technology, reaffirming its favorable impact. / En av de viktigaste källorna till världens utveckling är energi och BESS har dykt upp som avgörande komponenter i övergången från konventionella energisystem till mer hållbara och miljövänliga alternativ. Trots BESS betydelse har spridningen av kunskap om hur denna teknik fungerar inte hängt med i marknadsutvecklingen. Att överbrygga denna kunskapsklyfta har blivit absolut nödvändigt, och för att ta itu med denna utmaning framstår batteridiagnostik som en hållbar lösning. På detta sätt, genom att undersöka alternativa försäljningskanaler, särskilt utnyttjandet av återförsäljare, syftar den aktuella studien till att förbättra marknadspenetrationsstrategin för optimal integration av batteridiagnostikprogramvara inom specifika ekosystem. Det undersöktes både de potentiella fördelarna och utmaningarna förknippade med denna affärsmodell, vilket resulterade i utformningen av en sådan strategi genom litteraturundersökningar i kombination med intervjuer med marknadsexperter. Dessutom utvärderades de ekonomiska konsekvenserna genom att överväga den totala ägandekostnaden (TCO) för elbussägare, vilken sektor visade en hög grad av beredskap för sådan teknisk integration. Som ett resultat avslöjades det upp till 33,14% i TCO minskning genom implementeringen av denna lösning, med underhållskostnader som spelade en avgörande roll i denna process och nådde upp till 19,72% i ett av de simulerade fallen, medan batterilivslängden förlängdes uppnådde en minskning med upp till 15,17% i ett annat fall, vilket bekräftar de betydande fördelarna med att använda batteridiagnostiksteknik, vilket bekräftar dess positiva effekt.

The conversion of red oak small diameter timber (SDT) into solid wood products was investigated. The objectives of this research were to 1) determine the yield of lumber, pallet and container parts, and residues from SDT and the market potential for these products; 2) determine the economic feasibility of a SDT sawmill and pallet part mill located in Southwest Virginia; 3) develop a business plan for a SDT sawmill and pallet part mill located in Southwest Virginia. The methods for this research consisted of resource, yield and economic analyses, and the development of a business model. The resource analysis indicated an ample supply of red oak SDT available in Southwest Virginia. The yield analysis used red oak SDT logs, which were manufactured into lumber, container parts and wood residues. The yield of 3" wide container parts from cants varied from 63% to 66%. The 1" nominal lumber produced was mainly 2A and 3A, 74%, and 24% was 1 common. The economic analysis utilized break even, net present value and internal rate of return analyses to determine the economic feasibility of utilizing red oak SDT. The results of the study indicated that the sawmill-only processing level scenario is not economically feasible given the specified conditions and assumptions. However, the results showed that the sawmill and pallet part mill, actual yield scenario at $35/ton delivered log cost is economically feasible. The hypothetical business model for Southwest Custom Hardwoods was economically feasible. The final net present value was calculated to be over $750,000 and the final internal rate of return was 11%. Future yield studies should weigh logs so that the yield of residues and solid wood products can be directly compared. Future research into the utilization of hardwood SDT should include yield studies of other species and other product mixes. / Master of Science

To explore critical aspects and analyse factors in the alignment of a business model during thecrisis is the purpose of this study. This study considers only the perspective of small andmedium enterprises on barriers and facilitators of the crisis moment to align with the existingbusiness model. By understanding these factors analysis and its abductive theory approachcan benefit other small and medium enterprises to be sustainable in the present and futurecrises from the critical aspects of this thesis research. It utilizes existing theories todemonstrate a theoretical framework by four factors analysis with the business modelelements, which was created and subsequently tested through a qualitative research strategy.The research design included three different steps of analysis before and during crisissituations. The primary data comprised interviews with a leadership position and topmanagement at each department relevant to the research area from the company as a singlecase study. The locations for the case study selection were based in Halmstad, Sweden. The results of the analysis imply that a number of dimensional changes happened during thecrisis in the case study company. Among these variations, the existing business model takes adifferent way to find out a new arena of opportunity. To sum up, the final frameworkillustrates more on changes factors, the reason of changes, challenges, and facilitators arecoming out, which is definitely the latent innovation in the crisis moment. According to these findings, practical and theoretical implications are presented and examinedin this research paper. The critical implications are that the case company as a category ofsmall and medium enterprise sustained by their acceptance in changes factors like a newcustomer, assortment, product alignment, and new demand creation by a different marketingapproach are really driving the whole potential barriers, no matter in logistics, support,functional layout, and resource allocation, etc. the facilitators of the driven-changes found theway out by crisis risk planning, establishing systems for resource planning and awareness inextensive picture leadership. Additionally, they drive for the new opportunity and areoptimistic in their value proposition and objectives of the company. I also admire that howimportant it is to make the situation calm and result-driven in a crisis situation that everybodyin the company communicates, takes the decision, and expresses the same language when needed.

Technological revolutions have occurred for markets and industries since the rise of organized communities and societies. In the past few years a technological revolution has been in process with the growth of digitalized markets. This has resulted in a shift of analog business becoming digitalized. Digitization is a structural change for industries and the Swedish economy is affected by it. This put a demand on many industries to adapt digitalized techniques, in order to stay competitive and survive this technical shift. Adapting to a technical revolution puts pressure on the business strategies and requires companies to model new ones. With the digitization, new requirements have arisen for companies to create new business models, value chains and ways of organizing activities, in order to manage the business strategies. Digitization has been seen to change innovation processes and some experts believe it will change whole markets. The accounting industry is one of the industries that has been seen to have a growth in digitalization and is expected to grow even more. The accounting industry is like many other industries are experiencing the need for a change due to digital technologies. Therefore, this study aims to investigate how digital accounting businesses could set up a general business model, in order to be a successfully digitalized business. This has been conducted through a multiple case study, with the aim to provide generalized findings of business model elements and barriers/facilitators for digitalization affecting the business model. The multiple case studies has been conducted through interviews with different accounting companies, that market themselves as digitalized actors. The findings of the research indicate that digitalization had a direct affect on how companies should strategically organize a business. Many of the implications on digitalized accounting will have direct impact on strategies, actions and processes. The digitalization will require company cultures, which are digitalization friendly. Some of the found results are: digitization will give accounting companies digital accounting tools, knowledge sharing and communication channels. It will put pressure on employees for having different knowledge than analogue businesses and more expertise skills. Digitalization it is estimated to affect the offerings provided to customers. The digitalization is also most likely to have key partners, targeted customer segment, cost structure and revenue streams specific for being digitalized. Digitalization of the accounting industry is likely to change the market from being a supplier driven to becoming demand driven and new actors with less accounting knowledge could get a opening for entering the market. And there are many barriers and a few facilitators for being a digitalized accounting business. This has been taken in consideration when mapping a general business model for a digital accounting firm in this report.

During the past decades, the world has seen a fast development in information technology. This has led to significant changes in many different industries including the media industry. The transformation is in progress and is unceasingly changing the game rules for media companies. Many magazines are struggling in the new competitive media landscape since existing business models in the print industry are hard to apply to the digital industry. In order for magazines to remain competitive they need to develop their revenue models and adjust to the new game rules in the industry. This thesis is focused on how magazines could develop their businesses in order to remain competitive in the transition from print to digital media. The research methods used were semi-structured interviews and a survey. The interviews were conducted with seven different media experts in order to find possible directions for Swedish magazines in general. The survey was aimed exclusively to the entertainment magazine Nöjesguiden in order to decide what additional revenue models fit them best. The results from the interviews implicate that magazines should continuously evaluate their print business using a holistic perspective, adopt long-term perspectives, initiate cost cutting in the print business and put the cost savings into investments for the future. In addition, they should have four main areas of focus in the digital business – strategy, content, target group and data. Strategy relates to focusing on the digital business, being innovative and trying new things. The results also show that it is beneficial to separate the old business from the new since the old business is linked to outdated industry structures. Regarding content, the direction should be either very broad or very niched. Thereto, magazines should focus on unique content, which refers to content that is not available elsewhere by other content providers. In addition, magazines should evaluate what makes their content unique. This is closely related to the target group, which is going to become more important in the future media climate. For magazines, getting to know their specific target group and focusing on improving the brand recognition are going to be advantageous factors in being competitive in the digital media climate. In conclusion, magazines should use data to continuously evaluate their business and use that knowledge to improve their offer. The results from the survey shows that the best new revenue model for Nöjesguiden at the moment is events.

This thesis research analyzes why and how Software as a Service (SaaS) ventures can succeed or fail using the two forms of free business models: freemium and free based on a multi-sided platform. Software as a Service ventures nowadays need a strong market presence and visibility to be financially sustainable, and that is why they are constantly innovating methods to reach solvency. Many of those companies chose free business models to reach that market presence and economic growth. Academic research in this subject is very limited, and there is no framework or guide that shows how companies using these business models can succeed. The aim of this research is to address that gap and determine the key factors that lead to success for ventures using these business models. The researchers‘ approach of understanding, analyzing and deciphering these business models stands on a qualitative open-ended research strategy with case studies, backed by interviews of companies using these business models. The findings are based on the gathered and analyzed data from the case studies and the interviews. The result of this research is the classification of key factors in three major groups: Customers, Development Strategy, and Business Sustainability. This research expands the information and understanding in the field of business models, and more precisely freemium and free based on a multi-sided platform. Also, it demonstrates that both free business models can be a viable choice for SaaS ventures.

As the competition for talented workers increases fringe benefits are becoming an   increasingpart of the salary package. A token of this, could be the lunch industry, which has emerged in Denmark and Sweden as a way of attracting and retain skilled staff. Despite the similarities between the two countries, different business models dominate the lunch industries in the respective markets. This study displays some fundamental differences in the lunch habits, which are established from childhood experiences. All Swedish schoolchildren receive a free lunch consisting of a hot meal served as a buffet in big dining halls. Danish schoolchildren carry cold packed lunch bags from home, consisting primarily of rye bread and cold cuts. As a result of these experiences Swedes prefer hot meals for lunch throughout their lives, while Danes gladly eat their cold rye bread. Nonetheless, the dominating business model, within the Danish lunch industry, offers workers hot lunches served as buffets, while the common Swedish model requires workers to visit lunch restaurants. Alternatively, lunch can be delivered, but then it is served as single portions or cold/frozen and has to be heated. According to the results of this study there are no fundamental differences within the content or focus areas of the business models in the two countries and the key success factors are the same. The Swedish lunch models are not likely to be accepted in Denmark, due to the Danish population’s attitude towards frozen ready meals and that buffets makes single portions superfluous. On the other hand, the commonly applied Danish model seems to be a good fit with the Swedish culture, hence an entrepreneurial opportunity.

In the world of today, constant change is the “new normal”. The context of our global economy calls for a new set of entrepreneurial leaders; leaders who embrace and diligently find the way forward for their organizations. In this context, leading decision makers need efficient tools for smart business model decision-making. (Ries, 2011) Thus, this thesis sets out to answer following questions, with the purpose to inform those seeking a fundament for advantageous business model decision-making. MAIN QUESTION: Can the Business Model Canvas be an advantageous tool for business model decision-making in large enterprises? SUB QUESTION 1: What are the limitations of the Business Model Canvas in the decision-making process? SUB QUESTION 2: What modifications might be applied to increase the relevance of the Business Model Canvas as a tool for large enterprises? To answer these questions, the thesis presents relevant theory regarding key concepts behind the business model, frameworks and tools commonly used in the startup community (the Business Model Canvas, Customer Development, Lean Startup, and Lean Canvas), as well as an overview of the concepts of strategy and dynamic capabilities. The empirical procedure begins with hybrid brainstorming sessions and in-depth interviews, and continues with a workshop and evaluation interviews and questionnaires. The empirical work is conducted with Microsoft Sweden Services’ executive leadership team, spanning a time period of approximately one month. The results are derived by reviewing the empirical findings in light of theory. In short, the results show: (1) That five out of six leadership team members regarded the Business Model Canvas (BMC) as a 4 or 5 on a 1-5 scale, ranging from “Prefer traditional tools” (e.g. a business plan), to “Prefer the BMC” (2) That the following areas where identified as “Key areas of improvement” by the leadership team (number of members considering this a key area for improvement in brackets): Connection to strategy (4/6), Connection to organizational capabilities (3/6), Connection to values (2/6), Mixing different levels of abstraction (1/6), Connection to compete (5/6), Ability to track development over time (4/6) The results are then discussed and analyzed, presenting critique of and limitations to the tools, as well as suggesting modification and a new model, The Business Model House (The BMH), which was created by this researcher and is based on following decisions: Integrate chosen aspects of the BMC and the Lean Canvas Add a foundation of values Add a ceiling of strategy Add an intersection of dynamic capabilities Add a third, optional, dimension capturing the transition between business models and innovation accounting. The purpose of these development decisions is to offer a more holistic and yet simple tool for business model decision-making.