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Preparedness of companies for digital transformation and creating a competitive advantage in the age of Industry 4.0

Author

Listed:
  • Adamik Anna

    (Faculty of Management and Production Engineering Department of Management, Lodz University of Technology, Poland)

  • Nowicki Michał

    (Faculty of Management and Production Engineering Department of Management, Lodz University of Technology, Poland)

Abstract

One of the biggest challenges that organizations are facing today is finding the proper way to shape competitive advantages in the age of Industry 4.0. This digital revolution forces companies to face specific challenges. The main purpose of this paper is to identify key requirements for the creation of a competitive advantage in the age of Industry 4.0 [CA. 4.0] The second purpose is to evaluate the level of organizations' preparedness for Digital Transformation [DX]. Studies based on a literature review describe requirements for organizations functioning in the age of Industry 4.0, especially in the area of DX and exploitation of Virtualization [V&DX].

Suggested Citation

  • Adamik Anna & Nowicki Michał, 2018. "Preparedness of companies for digital transformation and creating a competitive advantage in the age of Industry 4.0," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 12(1), pages 10-24, May.
    • Handle: RePEc:vrs:poicbe:v:12:y:2018:i:1:p:10-24:n:2
    DOI: 10.2478/picbe-2018-0003
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    References listed on IDEAS

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    1. Richard A Parsons, 2015. "The impact of age on innovation," Management Research Review, Emerald Group Publishing Limited, vol. 38(4), pages 404-420, April.
    2. Audretsch, David B. & Link, Albert N. & Walshok, Mary Lindenstein (ed.), 2015. "The Oxford Handbook of Local Competitiveness," OUP Catalogue, Oxford University Press, number 9780199993307.
    3. Violina Rindova & Walter J. Ferrier & Robert Wiltbank, 2010. "Value from gestalt: how sequences of competitive actions create advantage for firms in nascent markets," Strategic Management Journal, Wiley Blackwell, vol. 31(13), pages 1474-1497, December.
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