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Incorporating Industry 4.0 in Corporate Strategy
Abstract
Knowledge tells us that increase in productivity decreases margins in a competitive market and increases margins in a growing market. Not much is known about Industry 4.0 and its position within the corporate strategy and its possible impact on corporate performance. This chapter discusses the position of Industry 4.0 within the corporate strategy and how it may impact corporate performance. The main points include that corporates have to reflect on their core resources, leadership, and knowledge portfolio to take advantage of the Industry 4.0 platform. The corporates engaging in cost and volume strategies and those engaging in fast new product development strategies may benefit greatly with Industry 4.0. The services of Industry 4.0 may be outsourced but with added risks. Finally, the increased productivity with Industry 4.0 under constraint market growth may lead to the potential risk of market failure and large-scale layoffs.
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