Grant of 5.23 mill. DKK for a new project on digital business models
As part of their specific focus on digital business models, the Danish Industry Foundation has decided to support a new project called “Smart Home” at Department of Mangement. Researchers from three MGMT sections participate in the project.
A house is no longer just a house for us to live in. Buildings are becoming increasingly interactive, functioning more and more as digital information services, data suppliers, service providers and communication channels. Heat pumps, windows, systems controlling electricity, water and heat, security alarms, health devices and much more will be equipped with intelligent sensors transforming a traditional home into a Smart Home. This makes way for new business models and a digital transformation of the industrial sector.
For the entire construction industry and its suppliers, this involves great changes that lead to new sales and customer relations, new products and services, new partnerships, pricing strategies and export markets. The digital transformation redefines business systems and models as well as value chains in the construction industry and other industries that supply products or services to people’s homes, says Professor Børge Obel (ICOA, OSA), who has received the DKK 5.23 million grant from the Danish Industry Foundation in connection with the foundation’s specific digitisation initiative.
The research team spans across three MGMT sections involving also Professor Andrea Carugati (INEIS) and Associate Professor Marco Hubert (MAR). Researchers from MIT, Center for Information Systems Research and the University of Rostock will also participate in the research project, and the Alexandra Institute is a project partner. A number of companies will be invited to participate as well.
At the Department of Management, we have a strong research environment around precisely digital transformation of companies, and we are happy that this knowledge now leads to this grant, says Professor Andrea Carugati.
New business models
Over the next two years, the Smart Home project will be developing and testing a strategy and development process for companies developing new digital business models. Initially, the process will be developed in collaboration with 10 companies within the Smart Home industry. Later on, another 100 companies will be invited to take part. While the process is being tested, the researchers will gather information about the Smart Home customers’ experiences and needs and about the digital maturity of the companies. This information will be included in the development process and will be applied in an app that the companies can use to measure their own digital maturity. The process and the app will help the companies decide where to act if they wish to secure growth.
The companies are also invited to attend a Master Class on digital transformation with international experts and researchers.
Data collection and theory development
In addition to the project being of value to the companies involved and the smart home industry, knowledge, models and methods that can be used in other industries will be developed. Data will be collected on both customers and companies, so the Smart Home project allows for change based on evidence-based knowledge.
There is a lack of theory development in connection with digital transformation. The Smart Home project enables a link between concrete digital transformation for the benefit of specific companies as well as the development of new knowledge and the development of new theory and methodology that can support digital transformation in industries other than the Smart Home industry, says Professor Børge Obel.
Associate Professor Marco Hubert (MAR) adds: My motivation to apply for a grant with a focus on business impact (i.e. the Danish Industry Foundation) is twofold: First, I gain direct insights regarding the outcome of my work in the real world, get in touch with interested companies and, hopefully, create the impact the respective grant is expecting. Second, on top of the specific grant research, I get the opportunity to collect unique data (primary and secondary data) in collaboration with the companies for other research topics which are crucial in my area for high-quality publications.
For more information
Professor Børge Obel, ICOA, OSA
Professor Andrea Carugati, INEIS
Associate Professor Marco Hubert, MAR
Project Manager, Advisor Pernille Kallehave
Twitter: https://twitter.com/smarthomebss
Facebook: https://www.facebook.com/smarthomeAU/
Linkedin: https://www.linkedin.com/groups/13588065
Vacant position: Postdoctoral position in the SMART HOME research project
Industriens Fond (Danish Industry Foundation) https://www.industriensfond.dk
