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Sustainable Industrial Value Creation: Benefits and Challenges of Industry 4.0

In: Digital Disruptive Innovation

Author

Listed:
  • Daniel Kiel
  • Julian M. Müller
  • Christian Arnold
  • Kai-Ingo Voigt

Abstract

The Industrial Internet of Things (IIoT) poses several implications on manufacturers in terms of economic, ecological, and social aspects referring to the Triple Bottom Line (TBL) of sustainable value creation. Due to its technical core, the current research focused on its technical fundamentals, whereas the economic discussion is still in its infancy. This paper aims at painting a comprehensive and structured picture of IIoT-related economic, ecological, and social benefits and challenges. For this purpose, we employ an exploratory multiple case study approach based on semi-structured expert interviews in 46 manufacturing companies from three leading German industries. Our study contributes to the sparse body of scientific IIoT literature by analysing the IIoT’s implications according to the TBL. We show that, in order to qualify for sustainable industrial value creation, the IIoT requires an extension of the established TBL by three further dimensions, i.e., technical integration, data and information, and public context.

Suggested Citation

  • Daniel Kiel & Julian M. Müller & Christian Arnold & Kai-Ingo Voigt, 2019. "Sustainable Industrial Value Creation: Benefits and Challenges of Industry 4.0," World Scientific Book Chapters, in: Joe Tidd (ed.), Digital Disruptive Innovation, chapter 9, pages 231-270, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781786347602_0009
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    More about this item

    Keywords

    Innovation; Digital Innovation; Disruptive Technologies; Digital Disruption Strategies; Digital Business Model Innovation; Digital Platform Innovation;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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