How firms in emerging economies can learn industry 4.0 by extracting knowledge from their foreign partners? A view point from strategic management perspective

Shamim, Saqib; Cang, Shuang; Yu, Hongnian; Li, Yun; Chen, Leo Yi; Yao, Xifan

Abstract

This study offers a view point from a strategic management perspective which shows that firms in emerging economies can learn Industry 4.0 from their foreign partners operating from developed economies, by developing knowledge based dynamic capabilities (KBDCs). It emphasises on the importance of management inclination towards Industry 4.0. Integration of literature and logical beliefs show that management inclinations towards Industry 4.0 in terms of leadership, talent management, culture, and technology can facilitate the development of KBDCs which facilities knowledge activities. Firms in the emerging and underdeveloped economies are in special need of this kind of capabilities because of institutional voids. By developing these capabilities they can extract knowledge from their foreign partners from developed industrial economies who are doing well in terms of Industry 4.0. This study suggests that it needs a right combination of leadership, talent management, technology, and culture to learn and implement Industry 4.0 in the firm.

Citation

Shamim, S., Cang, S., Yu, H., Li, Y., Chen, L. Y., & Yao, X. (2019, August). How firms in emerging economies can learn industry 4.0 by extracting knowledge from their foreign partners? A view point from strategic management perspective. Presented at 2019 International Conference on Advanced Mechatronic Systems (ICAMechS), Kusatsu, Shiga, Japan

• Presentation Conference Type: Conference Paper (published)
• Conference Name: 2019 International Conference on Advanced Mechatronic Systems (ICAMechS)
• Start Date: Aug 26, 2019
• End Date: Aug 28, 2019
• Online Publication Date: Oct 10, 2019
• Publication Date: 2019
• Deposit Date: Jun 22, 2022
• Publisher: Institute of Electrical and Electronics Engineers
• Series ISSN: 2325-0690
• Book Title: 2019 International Conference on Advanced Mechatronic Systems (ICAMechS)
• DOI: https://doi.org/10.1109/icamechs.2019.8861622
• Keywords: Industry 4.0, Management inclination, Knowledge based dynamic capabilities, Knowledge extraction, Emerging economy
• Public URL: http://researchrepository.napier.ac.uk/Output/2881162