Technologies of the Fourth Industrial Revolution and their Impact on Business Strategy

Zandile Mahlangu and Collins Leke ()
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Zandile Mahlangu: University of Johannesburg
Collins Leke: University of Johannesburg

A chapter in Towards Digitally Transforming Accounting and Business Processes, 2024, pp 697-712 from Springer

Abstract: Abstract The study examines how the implementation of the elements in the cyber space of the Fourth Industrial Revolution (4IR), and strategy, or the lack thereof, impact on business. We cannot undermine the significance of business strategy especially when deciding which key disruptive technologies will form part of operations. 4IR without strategy is an unproductive and fruitless investment, and business strategy without the imbedded concept of 4IR results in outdated systems and operations that are quite evident from the detrimental failures of entities that delayed adopting 4IR within their corporate strategy. While many studies focus on the “Why” of the radical change, few studies construct their analysis addressing the “How” of the 4IR, that being, how to optimally adopt 4IR within the current business landscape without significantly affecting business operations and investments. This study utilises secondary data analysis and desktop research as the research methodologies, with the information gotten from journals and relevant publications. Also, through the compilation of diverse business research studies and findings in the finance and information technology (IT) sectors, more light would be shed on the main argument of this study. The intended results of the study are meant to provide insights into how the wrong business strategy in the implementation of these technologies of the 4IR could result in dire outcomes. In conclusion, the study intends to find out how strategy is the mitigating factor for the effective implementation of 4IR technologies based on evidence presented.

Keywords: Fourth industrial revolution; Artificial intelligence; Machine learning; 3D printing; Business strategy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-46177-4_37

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DOI: 10.1007/978-3-031-46177-4_37

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