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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

Authors

Saqib Shamim

Shuang Cang

Yun Li

Leo Yi Chen

Xifan Yao



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.

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