Responding to opportunities provided by General Purpose Technologies Industry 4.0 in Finland

Companies are currently facing a technological change that has the potential of disrupt- ing entire industries. Recognizing opportunities provided by Industry 4.0 requires com- panies to apply vision and foresight and to adapt their strategies in order to face the changing environment. Acting upon t...

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Päätekijä: Weinmann, Cecilia
Muut tekijät: Kauppakorkeakoulu, School of Business and Economics, Business and Economics, Organizational Communication, Taloustieteet, University of Jyväskylä, Jyväskylän yliopisto
Aineistotyyppi: Pro gradu
Kieli:eng
Julkaistu: 2017
Aiheet:
Linkit: https://jyx.jyu.fi/handle/123456789/54419
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author Weinmann, Cecilia
author2 Kauppakorkeakoulu School of Business and Economics Business and Economics, Organizational Communication Taloustieteet University of Jyväskylä Jyväskylän yliopisto
author_facet Weinmann, Cecilia Kauppakorkeakoulu School of Business and Economics Business and Economics, Organizational Communication Taloustieteet University of Jyväskylä Jyväskylän yliopisto Weinmann, Cecilia Kauppakorkeakoulu School of Business and Economics Business and Economics, Organizational Communication Taloustieteet University of Jyväskylä Jyväskylän yliopisto
author_sort Weinmann, Cecilia
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description Companies are currently facing a technological change that has the potential of disrupt- ing entire industries. Recognizing opportunities provided by Industry 4.0 requires com- panies to apply vision and foresight and to adapt their strategies in order to face the changing environment. Acting upon these technological opportunities is managerially demanding, but crucial for maintaining companies’ future competitiveness. This thesis builds on literature on strategic management and General Purpose Technologies (GPTs) and takes a company-level perspective in answering the question of how such techno- logical opportunities are perceived and responded to by decision-makers. In order to explore this issue, the strategic approaches to Industry 4.0 of 16 publicly listed companies in Finland were analyzed. For this purpose, in-depth qualitative interviews with managers from the Industrial and the Basic Material sector were conducted and publicly available material in the form of CEO and CIO Interviews, journalistic articles, as well as company press releases were collected and analysed. The results provide insights into how the characteristics of GPTs influence decision- maker’s perceptions and responses and show that the technologies’ uncertain develop- ment and the generality of purpose result in difficulties in understanding the nature of change and identifying how to turn the potential of the technologies into actual revenue streams. The findings suggest that opportunities provided by GPTs are responded to with new products and services, organizational transformation, new strategies, the adaptation of business models as well as new cooperation with suppliers and customers. Under the high perceived uncertainty and the complexity of required changes, a more experimental, stepwise approach to the implementation of new GPTs is identified as suitable as it allows balancing disruptive effects and for learning and adaptation to occur, as uncertainties are resolved.
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spellingShingle Weinmann, Cecilia Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland Industry 4.0 General Purpose Technologies Strategy Technological change Yrittäjyys Entrepreneurship 20422 strategia teknologinen kehitys strateginen johtaminen
title Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland
title_full Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland
title_fullStr Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland
title_full_unstemmed Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland
title_short Responding to opportunities provided by General Purpose Technologies
title_sort responding to opportunities provided by general purpose technologies industry 4 0 in finland
title_sub Industry 4.0 in Finland
title_txtP Responding to opportunities provided by General Purpose Technologies : Industry 4.0 in Finland
topic Industry 4.0 General Purpose Technologies Strategy Technological change Yrittäjyys Entrepreneurship 20422 strategia teknologinen kehitys strateginen johtaminen
topic_facet 20422 Entrepreneurship General Purpose Technologies Industry 4.0 Strategy Technological change Yrittäjyys strategia strateginen johtaminen teknologinen kehitys
url https://jyx.jyu.fi/handle/123456789/54419 http://www.urn.fi/URN:NBN:fi:jyu-201706122799
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