Barriers to Value Specification when Carrying out Digitalization Projects

Abstract

The growth of competition, environmental challenges, and market changes make it ever more important for companies nowadays to ensure that they utilize resources as efficiently and effectively as possible. Rapid technological development also increases the technological opportunities to streamline businesses and take fuller advantage of existing opportunities to create more value, reduce resource consumption, and increase competitiveness. The World Economic Forum’s “Digital Transformation Initiative” (WEF, 2021) states, for example, that: “Digitalization has immense potential: we estimate it could deliver around $100 trillion in value to business and society over the next decade”. Carrying out effective digitalization projects has thus become an ever more important industrial and economic objective.