A study among Finnish large and mid-sized companies
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School of Business |
Master's thesis
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en
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72
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Abstract
Over the last decade, researchers have discussed how digitalization significantly affects companies’ business environment and competitiveness. Several studies have suggested that besides other organizational resources, a board of directors may play a key role when a company is trying to adapt to its changing competitive environment and a new strategic context. Furthermore, researchers have widely discussed boards’ role in the new digital era and how traditional corporate governance no longer meets the needs of companies in rapidly-changing business environments. The purpose of this thesis was to examine the role and capabilities of the board of directors in managing digitalization in Finnish large and mid-sized incumbent companies and to come up with suggestions on how Finnish boards could improve their contribution to their companies’ success in the digital era. For this purpose, an anonymous online survey was conducted and sent to a large group of chairmen and board members from Finnish large and mid-sized companies. The results – combined with several international studies – suggest that in the new digital era, the traditional role of boards in monitoring financial results is no longer enough and there is an urgent need for the discussion about the role of the board of directors in managing digitalization and taking an active role in companies’ strategy work.Description
Thesis advisor
Rossi, MattiPenttinen, Esko