Students rewarded with respected award for Master’s thesis

The former Master’s students Nikolas Bakke and Jan Emil Kjærgaard Lindhøj were awarded the prestigious commercial prize when Grundfos presented their annual project awards in 2013.

2014.02.06 | Julia Rolsted Stacey

Nikolas Bakke and Jan Emil Kjærgaard Lindhøj recently graduated from the Department of Business Administration at Aarhus University. In their Master’s thesis they carried out a study on potential business model innovation at Grundfos. The collaboration was indeed appreciated and Jan Emil Kjærgaard Lindhøj and Nikolas Bakke won a respected commercial project award of DKK 25.000,00.

“We see the award as a great honour and as a successful culmination of our education,” says Nikolas Bakke and continues:

“As thesis students we collaborated very closely with Grundfos. They gave us many opportunities and available resources through the whole project. They saw us as employees and that has a great strength in our work”.

Digitalisation is the future

Nikolas Bakke further explains that he and Jan Emil Kjærgaard Lindhøj carried out a situation analysis across the organisation. They interviewed more than 30 people about present challenges, possibilities and potential threats in the market for pumps and gathered a large amount of input on how Grundfos can carry out a transformation in its business model from offering a physical product to selling solutions. 

“We set up a concrete business model in which digitalisation was found to be the solution for future customers,” says Nikolas Bakke.

On the company's agenda

According to the jury member Morten Holst Bøgh, the work that Nikolas Bakke and Jan Emil Kjærgaard Lindhøj have done in their thesis is very relevant for Grundfos.

“They have given us specific ideas on how we can set up the transformation”.

Further information

Nikolas Bakke
Management consultant, Hildebrandt & Brandi
+45 7020 0687

Jan Emil Kjærgaard Lindhøj
Analyst, Accenture