skip to main content
Language:
Search Limited to: Search Limited to: Resource type Show Results with: Show Results with: Search type Index

Development of a Risk Framework for Industry 4.0 in the Context of Sustainability for Established Manufacturers

Sustainability, 2019-01, Vol.11 (2), p.384 [Peer Reviewed Journal]

2019 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2071-1050 ;EISSN: 2071-1050 ;DOI: 10.3390/su11020384

Full text available

  • Title:
    Development of a Risk Framework for Industry 4.0 in the Context of Sustainability for Established Manufacturers
  • Author: Birkel, Hendrik ; Veile, Johannes ; Müller, Julian ; Hartmann, Evi ; Voigt, Kai-Ingo
  • Subjects: Business models ; Competition ; Competitive advantage ; Context ; Corporate profits ; Decision theory ; Energy consumption ; Environmental economics ; Environmental risk ; Information technology ; Internet of Things ; Literature reviews ; Political factors ; Security ; Small & medium sized enterprises-SME ; Social responsibility ; Society ; Sustainability ; Value creation
  • Is Part Of: Sustainability, 2019-01, Vol.11 (2), p.384
  • Description: The concept of “Industry 4.0” is expected to bring a multitude of benefits for industrial value creation. However, the associated risks hamper its implementation and lack a comprehensive overview. In response, the paper proposes a framework of risks in the context of Industry 4.0 that is related to the Triple Bottom Line of sustainability. The framework is developed from a literature review, as well as from 14 in-depth expert interviews. With respect to economic risks, the risks that are associated with high or false investments are outlined, as well as the threatened business models and increased competition from new market entrants. From an ecological perspective, the increased waste and energy consumption, as well as possible ecological risks related to the concept “lot size one”, are described. From a social perspective, the job losses, risks associated with organizational transformation, and employee requalification, as well as internal resistance, are among the aspects that are considered. Additionally, risks can be associated with technical risks, e.g., technical integration, information technology (IT)-related risks such as data security, and legal and political risks, such as for instance unsolved legal clarity in terms of data possession. Conclusively, the paper discusses the framework with the extant literature, proposes managerial and theoretical implications, and suggests avenues for future research.
  • Publisher: Basel: MDPI AG
  • Language: English
  • Identifier: ISSN: 2071-1050
    EISSN: 2071-1050
    DOI: 10.3390/su11020384
  • Source: Freely Accessible Journals
    AUTh Library subscriptions: ProQuest Central
    ROAD
Back to results list
INSPIRE LIBRARY - TON DUC THANG UNIVERSITY (84-028) 37 755 057 Feedback
19 Nguyen Huu Tho St. Dist.7, HCM thuvien@tdtu.edu.vn

Copyright © 2017 INSPIRE LIBRARY - TON DUC THANG UNIVERSITY

Searching Remote Databases, Please Wait