Internal and external precursors to favorable adoption of Industry 4.0 technologies

Abstract

In the modern era of rapidly emerging technologies, organizations are faced with pressing concerns about how to strategically maneuver their trajectory and corresponding operations to accommodate the rapidly changing environment. Associated with this dilemma is a dynamic perception of importance and urgency. Just as the physical environment is capable of guiding human behavioral tendencies, the competitive climate of the marketplace as well as internal organizational tendencies hold influential power over how organizations innovate over time. In the context of Industry 4.0 adoption, the benefits for organizations are not universally identical. Rather, the benefits are situationally associated with operational trends of the surrounding industry space. Thus, this publication offers a discussion on a subset of the research findings pertaining to Industry 4.0 adoption ventures. For Industry 4.0 considerations, the first hurdle that confronts organizations is the decision about how extensively to adopt Industry 4.0 technologies, if at all. As such, an urgencyimportance matrix is considered from a reliability context to help organizations identify favorable circumstances that are generally associated with higher levels of Industry 4.0 adoption necessity and success. Monitoring the competitive environment is essential to tailoring organizational strategies. The Industry 4.0 dimension plays an instrumental role in this area.