Smart office technologies and innovations: Is there a business model innovation under pandemic circumstances?
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School of Business |
Master's thesis
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Authors
Date
2022
Department
Major/Subject
Mcode
Degree programme
Entrepreneurship and Innovation Management
Language
en
Pages
87+27
Series
Abstract
Pandemic has introduced challenges to the traditional working model. Hybrid and remote working models resulted in the need to rethink office space, create safe and smart working environment and to adjust real estate expenses. This work investigates how office spaces should be changed to correspond to the new realities of the pandemic. What technologies can be utilized and what are the new business model innovation opportunities that consequentially occurred. Real estate industry being at the frontline of pandemic impact has seen significant decrease in utilization of office spaces. Vast number of floor space became vacant as companies have relocated their offices to new locations and majority of employees started working remotely. Employees worry about contamination risk at the office yet missing on the opportunity for collaborative work. New office functions shifted towards collaboration and socialisation activities compared to traditional provision of personal working spaces. Real estate owners introduce new concepts of office spaces and coworking places as well as more flexible rental agreements. On the other hand, technological solutions that prevent virus spread and improve office safety appear. Combined with value chain analysis new business opportunities were identified across whole industry value chain. New business model innovation was introduced based on the operational model of AFRY AB and using concept of Triple Layer Business Model Canvas.Description
Thesis advisor
O'Shea, GregoryShulist, Patrick
Keywords
business model innovation, pandemic, real estate, technologies, business model, strategy, TLBMC, covid-19