Digitalization in the steel and mining industries: overcoming challenges by comprehensive technological innovation to enhance sustainability
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School of Business |
Bachelor's thesis
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Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
47
Series
Abstract
This thesis examines the potential benefits of digitalization to address sustainability and efficiency challenges in the steel and mining industries. By using a qualitative research methods approach, with the support of limited quantitative data, the study identifies and analyzes the benefits, challenges and barriers to digital technology implementation as well as possible actions and strategies to overcome the problems in the industries. Key findings indicate that after successfully address the barriers, digitalization significantly enhances operational efficiency and environmental sustainability in these sectors. Digitalization also allows companies to have long-term benefits by encouraging a culture of innovation, creativity and adaptation, investing in workforce skill development to close the digital literacy gap, exploring scalable digital solutions that provide flexibility for expansion and adaption in the future. Consequently, adopting digitalization not only improves short-term operational performance but also positions companies for long-term growth, dynamic capabilities, and competitive advantage in the global market by aligning with sustainability goals.Description
Thesis advisor
Ranta, TapioKeywords
digitalization, sustainability, operational efficiency, steel industry, mining industry, technological innovation