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Managing Digital Disruption of Business Models in Industry 4.0

In: Managing Digital Open Innovation

Author

Listed:
  • Julian M. Müller
  • Jana Traub
  • Peter Gantner
  • Kai-Ingo Voigt
  • Anne-Laure Mention
  • Marko Torkkeli

Abstract

Industry 4.0, internationally known as the Industrial Internet of Things, is expected to challenge existing business models of industrial manufacturers. In response, manufacturers are required to find adequate strategies in the course of Digital Transformation. So far, literature only describes Digital Transformation in few articles, nevertheless highlighting the necessity to expand research and empirical insights in this area. In response to this research gap, the present paper investigates the Digital Transformation strategy of a German medium-sized industrial enterprise mainly active in the tool-making sector. Under the supervision and guidance of the company’s Chief Digital Officer (CDO), the paper presents empirical insights of the Digital Transformation process. Based on the CDO’s expertise and knowledge of seven company-wide experts, requirements for the successful transformation of the company’s business model are presented. Thereby, the paper contributes to the topic of business model transformation in the context of Industry 4.0.

Suggested Citation

  • Julian M. Müller & Jana Traub & Peter Gantner & Kai-Ingo Voigt & Anne-Laure Mention & Marko Torkkeli, 2020. "Managing Digital Disruption of Business Models in Industry 4.0," World Scientific Book Chapters, in: Pierre-Jean Barlatier & Anne-Laure Mention (ed.), Managing Digital Open Innovation, chapter 3, pages 47-72, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811219238_0003
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    Cited by:

    1. Ghadimi, Pezhman & Donnelly, Oisin & Sar, Kubra & Wang, Chao & Azadnia, Amir Hossein, 2022. "The successful implementation of industry 4.0 in manufacturing: An analysis and prioritization of risks in Irish industry," Technological Forecasting and Social Change, Elsevier, vol. 175(C).

    More about this item

    Keywords

    Open Innovation; Digital Disruption; Industry 4.0; Data-Driven Decision; Value Networks; Organizational Agility; Digital Design; Collaboration; Innovation Policy; Social Media; Open Strategy;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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