Strategic factor analysis for industry 4.0

In impending decades Industrie 4.0 will challenge us in how to re-invent jobs in a world where machines will take our jobs. Although plenty of research has been carried out on the strategic importance of resources, capabilities, and boundaries where knowledge must be shared and assessed, no studies have been found which looking on strategic factor analysis for understanding how prepared we are for the fourth industrial revolution. Therefore asking the central research question “Is our strategy ready for the fourth industrial revolution?” Comparing the strategically related general and significant categories and subcategories of Industrie 4.0, with the strategic factor analysis summary themes and most important subcategories from firms in Estonia (n = 123), allowed answering the central research question that our strategy is only partly ready for the fourth industrial revolution. But the results of this study indicate also that we are ready in employee development, values, flexible services and products, high quality target, customer orientation, and strategy. Proposed solutions to overcome low profitability, lack of qualified manpower, and growth, could be expanding the market share into new markets, and development of innovative services. In order to be prepared for the fourth industrial revolution the development of a strategic knowledge vision is needed.

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