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Master Thesis Master's Programme in Industrial Management and Innovation, 120 Credits

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Master Thesis Master's Programme in Industrial Management and Innovation, 120 Credits Master Thesis Master's Programme in Industrial Management and Innovation, 120 credits Capturing Business Model Innovation Driven by the Emergence of New Technologies in Established Firms A Case Study at Siemens Healthineers Thesis in Industrial Innovation Management, 30 credits Halmstad 2018-06-16 Emma Bäckman, Josefin Ellmarker HALMSTAD UNIVERSITY Abstract Background: It is argued that the emergence of new technologies and the digitalization can improve the healthcare, make it more efficient, personalized and available for everyone. The healthcare has already begun to become more digitized and there is no doubt that this trend will continue. Moreover, it is argued that AI will have a major impact on the MedTech and healthcare industry. Problem discussion: To stay competitive it has been concluded that firms must update and rethink their business models constantly thus, to undertake business model innovation. This applies specially to established firms that have been successful with the same business model for a long time. Despite the fact that the existing literature addresses the importance of business model innovation, very little attention has been drawn to how to actually achieve this change. Purpose: The purpose of this study is to explore how business models in established firms within the MedTech industry develops over time due to the emergence of new technologies. More specifically, we focus on how artificial intelligence is influencing and will influence the business models in the MedTech industry. Methodology: This study has been performed through a single case study at Siemens Healthineers. The primary data has been gathered through four meetings with people with expertise in the field of artificial intelligence as well as the MedTech and healthcare industry. Further, through 14 interviews with employees at Siemens Healthineers in Sweden as well as through four verifying interviews with other actors within the MedTech industry. In addition, secondary data from the period 1998-2017 has been gathered through 20 annual reports from Siemens AG, 10 annual reports from Siemens AB, 9 documents found on Siemens Healthineers’s website and 46 different websites. Findings: Several events have been identified which have contributed to business model innovation at Siemens Healthineers. Thus, 19 events have been identified between 1960-2000 and 21 events have been identified between 2000-2018. Further, three business models at Siemens Healthineers from the past, the present and the future is presented to visualize the business model innovation process. The trustworthiness of the findings is ensured by four verifying interviews with other actors within the MedTech and healthcare industry. Conclusion: Business model innovation at Siemens Healthineers has been a process of incremental changes over time. Further, it can be concluded that the firm has used both a planned and an emergent approach of change to achieve business model innovation. Keywords: Business models, business model innovation, process, events, new technologies, established firms, medtech, healthcare i Acknowledgements As this thesis is the final project of our studies within the Master Programme in Industrial Management and Innovation at Halmstad University, we wish to thank several persons that have been involved in the creation of this thesis. First and foremost, we wish to thank our supervisor at Halmstad University, Maya Hoveskog for your valuable support, feedback and guidance throughout this process. We cannot thank you enough, you really are the best and a big inspiration to us both! We also wish to thank our classmates at our programme for inspiring us every day and providing us with valuable feedback and discussions during the seminars. Further, we wish to thank our families and our friends for supporting us and believing in us during our study time. Thank you for always keeping us motivated! A special thanks to the employees at Siemens Healthineers that has participated in our thesis. You have provided us with valuable information and insights that have laid the foundation for our empirical data. Without you, this would not be possible. Thank you! Lastly, we want to thank each other for our great partnership and for always motivating each other to aim for the stars. We are the best! Halmstad, June 2018 Emma Bäckman and Josefin Ellmarker ii Abbreviations 3D Three-dimensional AGI Artificial General Intelligence AI Artificial Intelligence BMC Business Model Canvas BMI Business Model Innovation C$ Cost Structure CH Channels CR Customer Relationships CS Customer Segments CT Computer Tomography DL Deep Learning GDPR General Data Protection Regulation ICT Information and Communication Technology IoT Internet of Things IT Information Technology KA Key Activities KP Key Partners KR Key Resources MedTech Medical Technology ML Machine Learning MRI Magnetic Resonance Imaging O Outcome Events OR Operating Room R$ Revenue Streams R&D Research and Development VP Value Proposition WHO World Health Organization X-Ray X-radiation iii Table of contents 1. Introduction ...................................................................................................................... 1 1.1 Problem discussion ......................................................................................................... 2 1.2 Thesis layout .................................................................................................................... 4 2. Theoretical frame of references ................................................................................. 6 2.1 Business models ............................................................................................................... 6 2.1.1 Definitions .................................................................................................................. 6 2.1.2 Elements and tools ..................................................................................................... 9 2.1.3 Business model canvas............................................................................................. 10 2.2 BMI as a process ........................................................................................................... 13 2.2.1 Definitions ................................................................................................................ 13 2.2.2 Types of changes ...................................................................................................... 15 2.2.3 Approaches and stages of BMI ................................................................................ 16 2.2.4 Barriers and challenges ............................................................................................ 17 2.3 A process approach to study BMI ............................................................................... 17 2.3.1 Five categories of events .......................................................................................... 20 2.4 Summary of the theoretical frame of references ....................................................... 21 3. Methodology ................................................................................................................... 22 3.1 Research process ........................................................................................................... 22 3.1.1 Initiation ................................................................................................................... 22 3.1.2 Execution ................................................................................................................. 23 3.1.3 Examination ............................................................................................................. 24 3.1.4 Finalization .............................................................................................................. 25 3.2 Methodological choices ................................................................................................. 25 3.2.1 Research approach ................................................................................................... 25 3.2.2 Research purpose ..................................................................................................... 26 3.2.3 Research strategy and research choice ..................................................................... 26 3.2.4 Time horizons .......................................................................................................... 29 3.2.5 Data collection techniques ....................................................................................... 30 3.2.6 Data analysis procedures .......................................................................................... 34 3.3 Trustworthiness ............................................................................................................ 35 3.3.1 Credibility ................................................................................................................ 36 3.3.2 Transferability .......................................................................................................... 37 3.3.3 Dependability ........................................................................................................... 37 3.3.4 Confirmability .......................................................................................................... 38 iv 3.4 Research ethics .............................................................................................................
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