Effestiveness and efficiency criteria for strategic application of mechatronics in business processes

Mindaugas Laužikas (), Mindaugas Laužikas (), AistÄ— MiliÅ«tÄ— (), ViltÄ— MorozovaitÄ— () and Danielius KarpiÄ ius ()
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Mindaugas Laužikas: GILE Experts Limited, Malta
Mindaugas Laužikas: Vilnius University Business School, Lithuania
Aistė Miliūtė: Vilnius University Business School, Lithuania
ViltÄ— MorozovaitÄ—: Vilnius University Business School, Lithuania
Danielius KarpiÄ ius: Vilnius University Business School, Lithuania

Insights into Regional Development, 2021, vol. 3, issue 3, 79-105

Abstract: The present paper is centred on the effects of mechatronics in both high-tech and technologically less intensive firms. The strategy of innovation implementation in the mechatronics industry is tackled from both the high-tech business development perspective and the mechatronics product application perspective in other industries. Although the scientific and statistics literature with regards to the modern technology's effects is well established, the scarcity of scientific research in the field of the application of mechatronics/robotics in business makes this topic of significant scientific value. The purpose of this paper is to examine the effectiveness and efficiency criteria for the strategic application of mechatronics in businesses, related to both the decision-making process at the top-management level as well as choosing, applying, and monitoring the success of mechatronics among institutional clients. Given that mechatronics' application efficiency depends on a business model and the innovation culture, a focus on two categories of companies in terms of technological intensity could help businesses to choose the right high-tech product and the proper corresponding innovation commercialization model. Moreover, the paper could serve mechatronics firms while implementing the product/service or process innovations that are closer to consumer needs or specific industry challenges. Qualitative semi-structured expert interviews with four IT and four textile managers were conducted, and the conceptual model (which derives from the literature review) was tested. The choice of Lithuania as a target market for the analysed companies is related to the transition of this Baltic economy from the efficiency to the innovation-driven category, where the combination of high and low tech may be able to intensify the innovation process as well as to answer the research question of how to unlock the potential of mechatronics in business processes.

Keywords: entrepreneurship; mechatronics; business intelligence; efficiency-driven countries; innovation-driven countries; business processes; effects; high-tech; technological intensity (search for similar items in EconPapers)
JEL-codes: O32 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouird:v:3:y:2021:i:3:p:79-105

DOI: 10.9770/ird.2021.3.3(5)

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