The Current State of Digital Transformation in the Nordic Business Environment
A Shift Actions white paper series
Part 3: The digital transformation landscape in the Nordic business environment and a blueprint for digital transformation
The vast majority of organizations worldwide have recognized digital transformation as a strategic agenda that can provide a significant contribution to businesses in the following years to come. Utilizing and integrating new digital technologies offers a great potential of reshaping entire business models and no-one is entirely unaffected by effects of the phenomenon. Therefore, organizations need to shift from contemplating when to transform and instead rapidly start embracing digital transformation, in order to create the competitive advantages it can offer.
Current state of Digital Transformation in the Nordic business environment is a three-part series of white papers based on a research collaboration between Shift Actions and Hanken School of Economics. The findings are based on 19 interviews with senior management members and experts of large Nordic industrial companies. The white papers represent developing work on the topic of digital transformation.
An initial hypothesis was created when embarking on the research for this white paper series: “most digital transformation initiatives are theatrical updates to current business”. The hypothesis has shown to partly be true.
The last installment of the series, “Part 3: The digital transformation landscape in the Nordic business environment and a blueprint for digital transformation” discusses and contemplates the current state of digital transformation in the Nordic region. Furthermore, a high-level blueprint for how to undergo a digital transformation is provided.
To download the white paper, follow the link below.
The Current State of Digital Transformation in the Nordic Business Environment
A Shift Actions white paper series
Part 2: Uncovering the objectives, barriers and processes of undertaking a digital transformation
Digital Transformation offers great opportunities for reinventing entire businesses by offering the means for reshaped & improved stakeholder value creation, while simultaneously creating the foundation for operational excellence. However, for traditional industrial companies, it is considered a significant challenge to venture into the many unknowns related to the phenomenon. Therefore, there is a need for shedding light on the topic in order to reduce the risk of transformation efforts ending up in failure.
Current state of Digital Transformation in the Nordic business environment is a three-part series of white papers based on a research collaboration between Shift Actions and Hanken School of Economics. The findings are based on 19 interviews with senior management members and leaders of large Nordic industrial companies. The white papers represent developing work on the topic of digital transformation.
“As stated by Nordic industry leaders, the majority of digital initiatives are focused on incremental innovation, whilst very few companies are taking a leap of faith and striving to transform their entire business by doing something totally different.”
“As stated by Nordic industry leaders, the majority of digital initiatives are focused on incremental innovation, whilst very few companies are taking a leap of faith and striving to transform their entire business by doing something totally different.”
The second instalment of the series, “Part 2: Uncovering the objectives, barriers and processes of undertaking a digital transformation”, examines why organizations transform, what they are trying to achieve, and obstacles standing in their way. Additionally, the paper presents contemporary understandings of how a digital transformation can unfold.
To download the white paper, follow the link below.
The Current State of Digital Transformation in the Nordic Business Environment
A Shift Actions white paper series
Part 1: Paradox - Everyone is embracing Digital Transformation and yet there is little agreement on what that means
Digital Transformation has been a prominent board room topic during the last decade. While digitalization is sweeping though industry after industry and supporting widespread transformation, a large portion of digital transformation efforts ends up in failure. The reason behind this failure is a low consensus on what the phenomenon actually means and a lack of comprehension on how to actually transform. Hence, there is room for clearing up the air around the topic.
Current state of Digital Transformation in the Nordic business environment is a three-part series of white papers based on a research collaboration between Shift Actions and Hanken School of Economics. The findings are based on 19 interviews with senior management members of large Nordic industrial companies. The white papers represent developing work on the topic of digital transformation
“Research indicates that a large portion of digital transformation efforts fail, due to a lack of comprehension on how to actually transform”
“Research indicates that a large portion of digital transformation efforts fail, due to a lack of comprehension on how to actually transform”
The first instalment of the series, “Part 1: Paradox – Everyone Seems is embracing Digital Transformation and yet no-one seems to agree on what it means”, aims to reduce misconception on the phenomenon at large, by shedding light on what digital transformation means according to scholarly and non-scholarly literature. Secondly, it provides insights into how the concept is viewed by top industry leaders in the Nordic region.
- Within the Nordic region, there are two primary schools of thoughts regarding digital transformation; one focusing primarily on internal process developments and one focusing on developing novel means of value creation
- Wider industry characteristics appear to predetermine the speed and approach of digital transformation efforts
- Nordic industry leaders seem to have difficulties in understanding the complete socio-technological scope of digital transformation
To download the white paper, follow the link below.