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Digitalization is a fundamental disruptive force triggered by FourthIndustrial Revolution and Internet of Things, which has changed theway we approach and think about business processes and activities.In this increasingly digital age, relationships between organizations(i.e. companies, governmental agencies, and others) and customersare being reshaped and new business models are being invented. Today,companies across industries need agility, speed, flexibility, andthe ability to pivot rapidly to pursue new business opportunities andkeep up with a fast-changing global business environment. Digitalizationemphasizes the importance of placing advanced technology atthe heart of all processes, products, and services. However, much ofthe promised value of digitalization for business and society has notyet been fully realized. Academia will play a vital role in developingthe required knowledge and skills at the individual, company, andsocial levels. LTU can contribute to digital transformation by upgradingteaching and research so that students and researchers learn,understand, and apply digitalization for business development, innovationmanagement, and social value creation.

Purpose– Prior studies have argued that small firms with dynamic capabilities can revise and reconfigure their internal resources to meet the uncertainties of their business environment. However, there is a lack of understanding of how they can develop such critical capabilities. The purpose of this paper is to propose that small firms can employ information and communication technology (ICT) capabilities as a facilitator for developing dynamic capabilities. Thus, the study builds on resource-based view (RBV) literature and information systems (IS) literature by examining the influence of ICT capabilities on the dynamic capabilities of small firms.Design/methodology/approach– Several hypotheses were tested by analysing the survey data from 291 small high-technology firms in Sweden.Findings– The results reveal that ICT capabilities influence dynamic capabilities of small firms. More specifically, the ICT use for internal efficiency positively influences adoptive capabilities, collaborative use of ICT positively influences networking capabilities, and ICT use for communications positively influences both adaptive and innovation capabilities. Consequently, the results suggest that the different components of ICT capabilities facilitate the development of the different organizational capabilities that together represent dynamic capabilities and thus, can contribute to a small firm's competitive advantage.Practical implications– This study has few implications for the managers and CEO's of small high-technology firms. First, by prioritizing ICT capabilities, small firms can benefit from the development of dynamic capabilities that will support them to meet the challenges of turbulent business environment. Second, because small firms usually lack internal resources (i.e. financial resources and competence), the study provides more specific direction on how they can strategically invest and build different components of ICT that will positively influence their adaptive, absorptive, innovative, and network capabilities.Originality/value– The study provides an alternative view of how ICT capabilities influence the performance of small firms, and outlines how such capabilities influence the development of dynamic capabilities. Therefore, the study in hand contributes to the RBV and IS literature by specifically linking the components of ICT capabilities to dynamic capabilities and its related sub-capabilities.

E-procurement is constantly receiving attention from industries, business and government agencies. Analysts believe that utilization of e-procurement can lead to enormous cost saving and efficiency in procurement process. E-procurement also enlarges customer base, broadens the search for raw materials to lower its production cost. Though, it has benefited the global business tremendously, its expected growth rate has been moving downwards. While E-procurement can be used for the purchase of indirect or direct materials, the risks associated with the e-procurement has been holding the companies from adopting it. The purpose of this paper is to understand the e-procurement process by focusing on benefits, risks, practices and strategies of e-procurement and its emerging usages in the current business to business (B2B) environment. A qualitative method was used for the case studies in which two companies each from India and Sweden were studied and analysed. The results showed that cost benefit was the main driver for companies to implement e-procurement. Other benefits included were transparency and visibility across process, better internal and external relations and streamlined buying process. The problems of implementation and integration of existing infrastructure and security and control risks were holding back companies from wide usage of e-procurement. But most of all, lack of managerial commitment hinders the adoption process. Company's needs were the deciding factor for the kind of approach they will follow regarding the adoption of e-procurement and emergence of a new approach. This paper compares the works of different authors in the field of e-procurement and its implications for the B2B. ; Godkänd; 2006; 20070623 (ysko)

Circular and bio-economy represents a political and industrial initiative to ensure that our society can rely on renewable biological sources while achieving economic growth. However, there is a need to critical review how realistic and feasible such initiatives are towards fulfilling the promised benefits of this economy. The literature on bio-economy often discusses the importance of innovative business models and their role in a successful shift to a bio-economy. Still, much of the discussion that is related to circular business models is fragmented and immature. Therefore, the purpose of this study is to conduct a systematic literature review of circular business model activities and the barriers to a bio-economy. Further, this review provides future research directions for a shift to a bio-economy. This study is based on a systematic review of 42 scientific journal articles and book chapters on a forest-based bio-economy. The business model canvas is used to provide a structured aggregation of the existing circular business models activities being used by the forestry sector. In addition, we develop a framework that describes the barriers to bio-economy-based circular business models and suggest new directions for future research. The study highlights the need for alignment among the elements of a business model as a key condition for its successful implementation in a bio-economy. ; fi=vertaisarvioitu|en=peerReviewed|

Purpose
– The purpose of this paper is to propose a product-service systems (PSS) risk management decision-making framework for PSS operation, which can enable global manufacturing companies to offer PSS successfully. Thus, the authors aim to contribute primarily to developing the PSS literature by integrating insights from the literatures on risk management and decision making.


Design/methodology/approach
– This study is based on an exploratory, single case study with a Swedish manufacturing company that has long-term experience with providing PSS. In total, the authors conducted 25 semi-structured interviews with diverse respondents from different functional units.


Findings
– The study's main findings include identifying and proposing an interconnection between the operational risks associated with providing PSS, possible risk management responses, and decision criteria, all of which enable decision makers to select an appropriate risk management response.


Research limitations/implications
– The study contributes to the literature in three ways. First, the authors classify PSS operational risks into three categories related to delivery competence risks, technical risks, and behavioural risks. Second, the authors explain conditions under which each risk can be mitigated using different risk management strategies (avoidance, reduction, sharing/transfer, and retention). Finally, the authors combine different risk categorizations, decision criteria, and risk responses into an integrated decision framework of PSS risk management.


Originality/value
– The novel contribution is developing a PSS risk management decision support framework, which holds theoretical and practical value.