Abstract Energy is essential for our lives and underpins all the key functions of society. However, our energy systems today are undergoing substantial changes. The growing energy demand and our dependence on fossil fuels have become an important issue faced by countries around the globe. Besides the technological developments in the field of renewables and smart grids for future smart energy, a significant weakness of our energy systems is their lack of social and economic perspectives, even though energy systems are often defined as techno-social systems. Through an extensive literature review of extant studies related to various aspects of energy and business model studies, this study has identified a major gap in that the business model and the value perspective have not been conceptualized with well-defined and holistic theoretical frameworks. Particularly, there is little understanding of the creation of open business models in digitalized industries, although the phenomenon is widespread in the real world. The main purpose of this research is to explore and understand the creation of open business models from the value perspective in the emerging smart energy ecosystem with a specific focus on value configurations. The study utilizes a system- and design-oriented action research approach and takes an energy innovation project funded by the European Union (EU) as the main data source. The results of the study are that: 1) the study proposes a holistic framework for the value perspective for (open) business models including value spaces, value configuration, and value complementarity. This is a major contribution to business model and management studies, and for the first time, it unifies the value thinking scattered throughout the existing literature; 2) the research provides an insight into how practitioners can conceptualize and approach the creation of open business models that are often enabled through digitalization; 3) the study contributes to the EU’s 2020 and 2030 energy and environmental targets. The research on new business models for the energy industry can assist in the implementation of new energy market development, policy instruments, and market regulations that promote the creation of smart grids, all of which are currently boosting jobs, economic growth, and environmental sustainability in Europe and elsewhere. / Tiivistelmä Nykyinen fossiilisista energianlähteistä riippuvainen energiajärjestelmämme on globaalissa muutoksessa energian kysynnän kasvaessa. Tulevaisuuden älykkäissä sähköverkoissa – ja koko energiajärjestelmässä – uusiutuvien energialähteiden rooli kasvaa huomattavasti. Vaikka energiajärjestelmät usein ymmärretäänkin sosio-teknisinä järjestelminä, ovat taloudelliset ja sosiaaliset näkökulmat jääneet aikaisemmassa tutkimuksessa usein teknisten näkökulmien varjoon. Tässä tutkimuksessa keskitytäänkin arvonluontiin ja liiketoimintamalleihin tulevaisuuden älykkäissä sähköverkoissa. Tutkimuksessa tehdyn ja energialiiketoimintaan kohdistuneen kirjallisuusanalyysin tuloksena voitiin todeta, että aikaisemmassa tutkimuksessa sovelletut liiketoimintamalli- tai arvonluonnin näkökulmat eivät muodosta riittävää ja kokonaisvaltaista viitekehystä älykkäiden sähköverkkojen tutkimukseen. Erityiseksi tutkimusaukoksi havaittiin avoimien ja digitaalisten liiketoimintamallien luominen energia-alalla. Tämän tutkimuksen tarkoituksena onkin ymmärtää, erityisesti arvon luonnin näkökulmasta, kuinka uusissa ja esiin nousevissa energiaekosysteemeissä syntyy ja luodaan avoimia liiketoimintamalleja ja arvokonfiguraatioita. Tutkimuksessa sovelletaan systeemi- ja suunnitteluorientoitunutta toimintatutkimusmetodologiaa, ja sen tutkimusaineisto on kerätty osana EU Horizon 2020 -ohjelmasta rahoitettua P2P-Smartest -hanketta. Tutkimuksen tuloksena esitetään 1) kokonaisvaltainen viitekehys avoimien liiketoimintamallien ymmärtämiseen arvonluonnin näkökulmasta. Viitekehys sisältää arvon luonnin alueen (value space), arvokonfiguraation (value configuration) ja arvon täydentävyyden (value complementarity) ulottuvuudet ekosysteemisessä kontekstissa. Lisäksi työssä esitetään näkökulmia, kuinka 2) käytännössä voidaan konseptoida ja luoda avoimia digitaalisia liiketoimintamalleja älykkäiden sähköverkkojen kontekstiin. Toteutetun liiketoimintamallitutkimuksen tulokset tukevat myös 3) EU:n vuosille 2020 ja 2030 asetettujen energia- ja ympäristötavoitteiden saavuttamista erityisesti energiamarkkinan, markkinaregulaation ja -politiikkojen kehittämisessä sekä älykkäiden sähköverkkojen käyttöön ottamisessa.

The purpose of this thesis is to investigate how Covid-19 affects international e-commerce firms. Covid-19 has been the source of changes in the international business environment across world from the beginning of year 2020. The effects on e-commerce firms are nearly unknown, therefore this research is unique. The aim of this study is to gain more knowledge on how international e-commerce firms are responding to the pandemic. By following a qualitative research method, the study will explore and conduct a deeper understanding on the e-commerce firms experience through a data collection. The literature review has been established, theories are mostly related to digital business environment and international value chain activities. The literature review has been summed up into a conceptual framework which illustrates the connections between the theories and Covid-19. Furthermore, the conceptual framework has been used to analyze the findings from the empirical data which was conducted in a multi-case study. The analysis chapter discusses similarities differences between the cases and connection to theory. Lastly, the conclusion chapter of this thesis concludes the findings and analysis, and it contains theoretical implications, recommendations, limitations and suggestions for future research.

Research from the international business field have demonstrated that firms operating both in domestic and foreign markets have a greater exposition to market turbulences and disturbances. The literature has established that dynamism, flexibility and agility are crucial capabilities. In fact, firms displaying the previously listed capabilities have a greater chance to survive to turbulent and disturbing market events. Given the current Covid-19 crisis impacting the global market, this paper is further justified by the need for diverse and deeper research on how firms develop so-called “resilience” to survive to disruptive events such as the current pandemic. Furthermore, Business Model Innovation is proposed by the literature as a way to build that organizational resilience. Especially, the adaptation of the Business Model to a more Digital Business Model. The literature presented Digital Business Model as a way for firms to build flexibility and agility capabilities. More specifically, the study aims to analyze how Swedish international manufacturing SMEs develop organizational resilience. Thanks to the four semistructured interviews carried out with four top manager part of Swedish international manufacturing SMEs, this qualitative study has been able to answer the given research question: “How can international manufacturing SMEs develop resilience through adapting a digital business model in order to survive during disruptive market changes?” The primary and secondary data were collected and analyzed according to the constructed conceptual framework. In conclusion, it can be noticed that the findings, based on empirical data, are aligned with the literature and demonstrate that in order to navigate in those turbulent international market environments firms need have a flexible and agile organizational structure. Furthermore, those findings highlight that the implementation of a Digital Business Model enables firms to develop that flexibility and agility, therefore leading to organizational resilience. However, surprisingly, the data shows that if most of the firms did implement Digital Business Model, those Business Model Innovation are not permanent but rather temporary.

The Swedish banking industry is facing major competition from Financial Technology(FinTech) firms. FinTech firms are leading in the adoption of leading tools and technologies to offer aunique and innovative solution to customers. On the other hand, major Swedish banks are facingchallenges when it comes to the adoption of modern technologies. Cloud computing emerged as a coretechnology that most Swedish banks adopted to compete in the market by offering innovation solutions.However, the adoption of cloud computing presents complex challenges. This study investigates thechallenges faced by the Swedish banking sector in adopting cloud computing solutions and explores thedigital business strategies implemented to address these challenges. This study aims to investigate and analyze the strategies implemented by Swedish banks toovercome challenges associated with the adoption of cloud computing technologies. By examiningfactors influencing cloud adoption, including technological, organizational, and environmental aspects,the study seeks to provide insights into digital business strategies within the Swedish banking sector. The study employed a combination of questionnaires and interviews to collect the data,utilizing a mixed-methods approach that encompasses both quantitative and qualitative analyses. Thequantitative analysis was conducted using the Fuzzy Delphi Method (FDM), which quantifies expertopinions on cloud adoption challenges. The qualitative analysis was performed using thematic analysis,which explores the digital business strategies employed by banks to address technological,organizational, and environmental challenges. The findings indicate a consensus among Swedish banking experts on key cloudadoption challenges. Thematic analysis uncovers a diverse range of strategies tailored to addresstechnological, organizational, and environmental challenges, highlighting the complexity of digitaltransformation in the Swedish banking sector. The study concludes that Swedish banks face major challenges in cloud adoption,emphasizing the necessity for a robust digital business strategy to successfully overcome these obstacles.Diverse strategic approaches are observed, tailored to each bank's specific context and needs, indicatingthat there is no single strategy that universally applies to all.Recommendations for future research: To address the limitations of this study and enhance itsfindings, future research should focus on extending the timeframe and enlarging the sample size.Incorporating insights from external experts, including C-level executives, and diversifying the sampleby including a broader range of banks would provide deeper insights into cloud adoption challenges anddigital business strategies within the banking sector.

Die Industrie 4.0 führt aktuell zu revolutionären Veränderungen und Herausforderungen im Industriesektor, auf die Unternehmen mit neuen Geschäftsmodellen reagieren müssen. Die Masterarbeit gibt mit Hilfe einer Status-Quo Analyse eine Bestandsaufnahme über die aktuellen digitalen Geschäftsmodelle deutscher Industrieunternehmen. Die Erkenntnisse wurden auf Basis von 71 \"Mini-Cases\" erhoben. Dabei wurden Anbieter, sowie Anwender von Industrie 4.0 Technologien untersucht und in neun Muster kategorisiert. Auf Grundlage dieser Ergebnisse wurde ein inkrementeller Transformationsprozess konzipiert, der zur Entwicklung von digitalen Geschäftsmodellen in der Industrie 4.0 genutzt werden kann.

Problemformulering: Hur påverkas organisationer vid digitala transformationer?  Syfte: Uppsatsens primära syfte är att redogöra för hur en digital transformation har påverkat organisationers affärsmodeller samt påverkat verksamheters användande av strategier. Vi ämnar även att undersöka varför organisationer genomgick en digital transformation och vad som önskades att uppnås med förändringen.  Metod: En kvalitativ datainsamling med en deduktiv ansats. Det empiriska materialet samlades in via strukturerade intervjuer på respondenternas arbetsplatser.  Slutsats: Studien påvisar att organisationerna efter en digital transformation har kunnat skapa ett högre värde genom kostnadsminimering och effektivisering genom användning av mindre medel. Studien visar även att organisationsförändringen förändrar en verksamhet från grunden eftersom nya strukturer och system tillämpas samt delvis påverkar affärsmodeller. Det är därför av vikt att ha en digital strategi, en handlingsplan och mål för förändringsprocessen.

The merging of business and information technology (IT) strategies, effectively becoming a Digital Business Strategy (DBS), is changing the way that organisations have to leverage resources to create differential value. Due to the DBS being such a novice idea, there is no clear understanding of what the DBS is, what its characteristics and boundaries are, how it impacts alignment between business and IT, and how it impacts organisational performance. Without this understanding, organisations leveraging a DBS run the risk of launching technological initiatives or making organisational changes that are disjointed from their strategic direction. These misaligned efforts may result in unrealised strategy and unsatisfactory organisational performance. The purpose of this study was to define the boundaries and characteristics of the DBS, provide a definition of a DBS and to establish if the DBS has a positive effect on organisational performance. To examine the DBS, it was observed in its natural habitat, through a single case study approach, focusing on an organisation that has been leveraging a DBS as part of their digital journey. The organisation is a South African based financial services provider and is a subsidiary of a larger financial services provider. In this study, the DBS was observed from an intellectual, operational, social and cultural alignment perspective, using a combination of the Strategic Alignment Model (SAM) and the Complex Adaptive System (CAS) frameworks. This study subscribed to a mixed-method approach which included both qualitative and quantitative research techniques. Staff providing input into this study included senior, middle, junior and non-management employees. The study was conducted over a period of thirteen months. The findings from both the qualitative and quantitative data suggest that to leverage a DBS the organisation must be concerned with more than just leveraging digital resources. For instance, organisations must focus on customer and staff empowerment, use customer and industry-related information to create opportunistic and competitive decision-making opportunities, and create a change-ready culture where bold experimentation and failing forward is embraced. Researchers and practitioners alike can use the findings of this case study as lessons on how to leverage organisational resources in the context of the DBS.

Traditionella affärsmodeller ligger till grund för hur företag gör vinst och levererar kunskap. När samhället blir mer och mer digitaliserat ökar risken för misslyckande när en traditionell affärsmodell används. Ett sätt att minska risken är att transformera affärsmodellen till digital affärsmodell.  Denna studie tar upp förklaringar till vad digitala affärsmodeller, konkurrensfördelar, digitalisering, digitisering och affärsmodeller är. Syftet med studien är att ta reda på vilka realiserade konkurrensfördelar har skapats av digitala affärsmodeller samt hur företagen fick fördelarna. Syftet uppfylldes med hjälp av en systematisk litteraturgenomgång och intervjuer för att kunna påvisa eventuella likheter och skillnader mellan företagen jämfört med tidigare forskning.  För att skapa konkurrensfördelar med digitala affärsmodeller krävs en översyn av prioriteringar. Det gäller för företag med digitala affärsmodeller att leverera kundnytta med digitaliserade lösningar. Företags engagemang i till exempel miljö och dess påverkan på arbetssätt skapar konkurrensfördelar, när det samtidigt kopplas till digitala affärsmodeller. / Traditional business models form the basis for how companies make profit, delivery, and knowledge. This means that the risk of failure increases with traditional business models when society becomes digital. One way to reduce the risk is to transform the business model into a digital business model.  This study addresses explanations of what digital business models, competitive advantages, digitization, digitization, and business models are. The purpose of the study is to find out what realized competitive advantages have been created by digital business models and how the company received the benefits. This was done with interviews and a systematic literature review to be able to demonstrate any similarities and differences between the companies compared with previous research.  Creating competitive advantages with digital business models requires a review of priorities. It applies to companies with digital business models to deliver customer value with digitized solutions. Companies' involvement in, for example, the environment and its impact on working methods creates competitive advantages, when at the same time it is linked to digital business models.

Innovation has become of increased importance to a company’ competitive advantage during the past years. Over the years, the importance of services has increased. Information and Tele- Communication Technologies (ICT) have become a supportive role in almost any type of industry. The ICT market is continuously changing at a very high pace. In order to cope with these changes, companies active within the IT and software industry needs to unceasingly maintain their solutions up to date. This thesis provides a case study on Digital Marketing AB, a small company active in the ITindustry, delivering tools for planning, sending, and analyzing digital marketing campaigns. Digital Marketing AB operates within a market that is changing rapidly. As new technologies emerge, existing technologies becomes known, and low-cost versions of the present technology appears in the market, eroding revenues from more differentiated services. Furthermore, if the companies are small, and do not have the same financial resources as bigger actors, it is important for these companies to rely on other types of strengths. Companies also need to make sure that they are able to sell the new technology in a way that is attractive to their customers, but at the same time profitable for the company. In other words, they need to integrate the new technology in a business model. The thesis concludes that Digital Marketing AB needs to develop new technology with regards to a specific target customer group, but also to work together with the customers in order to develop an attractive and competitive business model. Furthermore, the thesis concludes that how the business model will be designed will determine the success of adopting a new technology. Other issues that arise who have to do with the design of the business model are how to package and position the new technology. / Under de senaste åren har innovation har blivit ett allt viktigare bidrag till ett företags konkurrensfördelar. Betydelsen av tjänster har dessutom ökat. IT och telekommunikation (ICT) har kommit att spela en viktig roll i nästan alla typer av industrier. Denna marknad ändras mycket snabbt och kontinuerligt. För att bemöta dessa förändringar måste företag som är aktiva inom IT- och mjukvaruindustrin ständigt hålla sina lösningar uppdaterade. Detta examensarbete består av en fallstudie utförd på ett litet företag aktivt i IT-branschen, referat till som Digital Marketing AB. Företaget levererar ett system för att planera, sända och analysera digitala marknadsföringskampanjer. Digital Marketing AB konkurrerar på en marknad som förändras i mycket hög takt. Då nya teknologier växer fram blir de existerande lösningarna kända vilket ger utrymme för lågkostnadsalternativ som eroderar intäkter från mer differentierade tjänster. Om dessa företag vars intäkter eroderas dessutom är mindre företag som inte har samma finansiella resurser som de större företagen, måste de förlita sig på andra typer av styrkor. Företag måste även se till att kunna sälja tekniken de producerar på ett sätt som är attraktivt för kunden, men som samtidigt är lönsamt för företaget. De måste integrera sin teknik i en affärsmodell. Examensarbetet visar på att Digital Marketing AB bör utveckla sin affärsmodell dedicerad åt en specifik målgrupp, och dessutom göra det tillsammans med potentiella kunder för att affärsmodellen skall bli attraktiv och konkurrenskraftig. Dessutom visar arbetet på att beroende på hur affärsmodellen utformas, kommer att avgöras hur pass framgångsrik affärsmodellen kommer att vara. Andra frågor som uppstår i samband med utvecklingen av affärsmodellen har att göra med hur tekniken skall paketeras och positioneras.

Informationsteknik (IT) har i samband med ett växande behov att transformera verksamheter till digitala fått en större betydelse för beslutsfattande i företag, då utvecklings- och investeringsinitiativ i allt större utsträckning inkluderar specifika IT element. Likafullt kvarstår utmaningar med att motivera nyttor av en investering i digitala verksamhetssystem. Utmaningarna indikerar ett behov av att tydliggöra nyttor med användningen av ett digitalt verksamhetssystem.  Syftet med studien var att utforska nyttor och relevanta nyckeltal relaterade till användningen av ett företags digitala verksamhetssystem. Fortsatt var syftet att göra en ansats i att ta fram innehåll till en generell nyttokalkyl för användning av ett integrerat verksamhetssystem, vilken kan åskådliggöra faktiska nyttor och mätbara effekter samt användas vid försäljning av produkten. En kvalitativ fallstudie genomfördes på CANEA, där fem medarbetare på olika hierarkiska nivåer intervjuades och forskning inom ämnesområdet insamlades.  Det har påvisats att investeringar i digitala verksamhetssystem genererar både kvantitativa- och kvalitativa nyttor. Likaså har det påvisats att forskningen antyder att det inledningsvis kan vara fördelaktigt att inkludera finansiella nyttor i en nyttokalkyl för investeringar i digitala verksamhetssystem. Fortsatt har det indikerats att kalkylen behöver inkludera både kvantitativa-, kvalitativa- och finansiella nyckeltal. Givet till kalkylens utformning och design har studiens resultat implicerat att val av output för respektive nyckeltal bör anpassas till organisationen och systemet i fråga. / In connection with a growing need to transform businesses into digital, information technology (IT) has become increasingly important for decision-making in companies, as development and investment initiatives increasingly include specific IT elements. Nevertheless, challenges remain in motivating the benefits of investing in digital business systems. The challenges indicate a need to clarify the benefits of using a digital business system. The purpose of the study was to explore benefits and relevant key figures related to the use of a company's digital business system. The aim of the study was furthermore to make an effort to produce a content proposal for a general benefit calculation for the use of an integrated business system, which can illustrate actual benefits and measurable effects andbe used in the sale of the product. A qualitative case study was conducted at CANEA, where five employees at different hierarchical levels were interviewed and research in the subject area was collected.  It has been shown that investments in digital business systems generate both quantitative and qualitative benefits. Similarly, it has been shown that research suggests that it may initially be beneficial to include financial benefits in a benefit calculation for investments in digital business systems. The result has continued to indicate that the calculation needs to include both quantitative, qualitative and financial key figures. Given the design and design of the calculation, the results of the study have indicated that the choice of output for each key figure should be adapted to the organization and system in question.