digital twin on a sector of an organisation

RESEARCH DISSERTATION(BSOM077)
(Title: To establish the impact of digital twin over
the financial performance of an organisation. A
comparative study over General Electronics and
Robert Bosch)
Supervisor:
Submitted By:

Executive Summary
The present investigation initiates to determine the impact of digital twin over the financial
performance of the business. Therefore, it is a wide area of academic research that is imperative
in providing a detailed analysis of the aspect of digital twin and provides a wider skillset and
knowledge. For the effective evaluation over this particular subject, the analysis is executed via
the support of conducting comparative analysis among two businesses likewise, General
Electronics and Robert Bosch, thus these two are the largest multinational corporation which is
having their operation all around the globe and are concerned over enhancing their financial
performance, hence an effective financial stability matters for a business to gain growth and
success. In this existing evaluation, the analysis is being based on a mixed-method in which
information accumulation is based on qualitative and quantitative aspects, thus this provides a
strong way for the investigator to attain growth and success. In addition to this, deductive and
positivism philosophy has been applied to assist the work in the right direction to implementing
effective theories and hypotheses that encompass digital twin. Despite this, in this evaluation
literature review is developed to providing detailed support to the work as this information
accumulation is based on secondary sources like books, journals, published and nonpublished
articles. Data analysis and interpretation have been relied upon over executing survey with the
support of questionnaire as it is effective in accumulation of information from the wider
population, therefore, the discussion is also a major stage where analysis has been executed
through the support of literature review and findings associated through primary research. After
that, a conclusion is drawn over the findings of the research and recommendations are mainly
effective in providing future scope to the businesses to conduct suitable operations and
effectively implement the aspect of a digital twin to enhance the operations of the business.

Table of Contents
Executive Summary.........................................................................................................................2
Table of Contents.............................................................................................................................3
Chapter 1: Introduction (Please Highlight the changes in red please )............................................1
Overview of the Research......................................................................................................1
Background of the Research...................................................................................................2
The rationale of the Research.................................................................................................3
Research Aim.........................................................................................................................3
Research Objectives...............................................................................................................4
Research Questions................................................................................................................4
Chapter 2: Literature Review ..........................................................................................................5
The conceptualisation of digital twin.....................................................................................5
Comparative analysis among general electronics and Robert Bosch about the emergence of
digital twin..............................................................................................................................8
The potential impact of digital twin over the performance of general electronics and Robert
Bosch....................................................................................................................................10
Challenges are faced by the businesses due to implementing a digital twin........................11
Chapter 3: Research Methodology ................................................................................................14
Introduction..........................................................................................................................14
Research Onion....................................................................................................................14
Research Design:..................................................................................................................15
Research Approach...............................................................................................................15
Research philosophy.............................................................................................................16
Research Choice...................................................................................................................16
Research strategy..................................................................................................................17
Sampling-.............................................................................................................................17
Time horizon-.......................................................................................................................18
Data collection methods-......................................................................................................18
Data analysis-.......................................................................................................................19
Research Instruments-..........................................................................................................19

Ethical considerations-.........................................................................................................19
Reliability and Validity-.......................................................................................................20
Chapter 4: Data Analysis and Findings ........................................................................................21
Chapter 5: Discussion ...................................................................................................................46
Theme 1: Conceptualisation of digital twin.........................................................................46
Theme 2: Comparative analysis among general electronics and Robert Bosch about the
emergence of digital twin.....................................................................................................47
Theme 3: Potential impact of digital twin over the performance of general electronics and
Robert Bosch........................................................................................................................48
Theme 4: Challenges are faces by the businesses due to implementing a digital twin........49
Chapter 6: Conclusion and Recommendation ...............................................................................51
Introduction..........................................................................................................................51
Conclusion............................................................................................................................51
Recommendation..................................................................................................................53
References......................................................................................................................................56
Appendix........................................................................................................................................60

Chapter 1: Introduction
Overview of the Research
A digital twin is the collection or generation of digital data representing a project. Digital
twins are virtual replicas of physical devices that data scientists and IT aces can use to run
imitations before real devices are built as well as deployed. Digital twin technology has enthused
beyond manufacturing and into the integrating worlds of the IoT (Internet of Things), AI
(artificial intelligence) and data analytics.
An investigation is mainly executed for effectively resolving an issue with the help of
conducting detailed analysis, thus, the existing study is based on analyzing the assorted impact
like competitiveness, effective business performance, higher customers base, advancement in
operations and so on that are brought through digital twin over the financial sector of an
organization (Ivanov and Dolgui, 2020). Therefore, in today’s modern era digital twin is
recognized to be the imperative area of investigation as it is widely analyzed to the manner of
exploring detailed knowledge about the impact of digital twin over approaching growth of the
business. The digital twin is mainly defined as a virtual replica of a physical system, product, or
procedure. Therefore, the technology eventually renders a real-time look at how a physical asset
is performing. In addition to this, a digital twin is also referring as one of the most disruptive
technology in this modern era as it transforms the way of executing business and the market as
well. This aspect mainly includes applying a digital replica of assets, procedures, and systems to
build effective simulation in an organizational environment. In today’s modern business era,
businesses are rapidly striving to strike a balance between developing equipment efficiency and
reducing the entire production and maintenance costs (Eckhart and Ekelhart, 2018). Asset service
engineers and quality management around business sectors likewise, airlines, oil & gas,
pharmaceuticals, telecom, automobiles, and others, are pushed progressively to optimize their
planning and operational expenses. Therefore, the Digital Twins technology gives a realistic
prospect to influence virtual models to also enable influence aspect likewise to predict failures,
prescribe actions, and support digital supply chain networks. However, in this present study the
overall analysis is based on the comparative analysis of two organizations and for this General
Electronics and Robert Bosch are selected to guide the work in the right manner. Therefore,
these two are recognized as the largest and well-known corporations which are mainly concern
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over using digital twin for the betterment of their business performance within the commercial
centre (Datta, S.P.A., 2016).
Background of the Research
Digital Twin principally speaks to as the union of the physical and the virtual globe where
each modern item will get a powerful computerised portrayal. All through the item advancement
life cycle, directly from the planning stage to the sending stage, associations can have a total
computerised impression of their items (Zheng and Sivabalan, 2020). despite this, organizations
are broadly concerned over actualizing computerised twin as it helps the organisations in better
assessment of the items and anticipate the issues ahead of time, give notice on prior stage,
bringing down the cost, upgrading open doors for better plans, forestall downtime, etc. In today’s
modern business era, organisations are striving for attaining growth and progression and the
businesses are concerned over implementing digital twin for the intention of improvising their
operations and functions (Kaewunruen, Rungskunroch, and Welsh, 2019). In this present
analysis for determining the effectiveness of digital twin the study has been executed over
comparative analysis among General Electronics and Robert Bosch, Therefore, General
Electronics is a well repudiated American multinational conglomerate company, which is
incorporated in New York City and headquarter of the form is in Boston Massachusetts, U.S.
The company was founded in the year 1892 by the collaborative efforts of Charles A. Coffin,
Elihu Thomson, Edwin J. Houston, J. P. Morgan, and Thomas Edison. The company is operated
through its multiple processes which involve aviation, healthcare, power, renewable energy,
digital industry, additive manufacturing, venture capital, and finance and lighting. However, the
company is having around 205000 employees who are putting their significant efforts into the
progression of the business via enhancing the operations of each segment. The overall revenue of
the firm is around 95.214 billion, which shows the growth of the business, and the company is
also concerned about implementing high-tech facilities involving digital twin to generate more
revenue and reduce the extra cost of business. On the other hand, Robert Bosch is a famous
German multinational engineering and technology business, which has it headquarter is in
Gerlingen, near Stuttgart, Germany (Sierla, Kyrki, Aarnio and Vyatkin, 2018). The company
started in the year 1886 with a significant contribution of Robert Bosch. However, Bosch's core
operating areas are spread in around four business sectors which involves mobility (hardware
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