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      Dynamic capabilities in Italian leading SMEs adopting industry 4.0

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      Measuring Business Excellence
      Emerald

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          There is no author summary for this article yet. Authors can add summaries to their articles on ScienceOpen to make them more accessible to a non-specialist audience.

          Abstract

          Purpose

          This paper aims to focus on how Industry 4.0 technology transfer has been implemented by leading Italian innovative small, and medium-size companies (SMEs).

          Design/methodology/approach

          This exploratory-descriptive study uses qualitative methods for collecting primary data (interviews and ethnographic observation) and secondary data (surveys, press news and websites).

          Findings

          The paper contributes to the understanding of what building dynamic capabilities (DC) is, and to clarify pivotal roles, functions and dynamics of the entrepreneur and the executive team.

          Research limitations/implications

          The results that emerged from the present research unveil a great potential for further development. The study can be confirmed and/or extended by replicating it within other economic contexts such as the European Union allowing then comparative studies amongst regions and countries.

          Practical implications

          In Italian leading SMEs an “augmented management” emerged. The study shows that digital technologies are enriching not only “what” and “how” management performs its duties but also its role: “orchestration” – a key term in DC theory – has been enhanced by new meanings.

          Social implications

          The study points out the relevance of an inclusive approach to Industry 4.0 to leverage the collective intelligence of the company.

          Originality/value

          Implementing Industry 4.0 has required a renewal of the leadership executive team: new young executives coming from other companies and sons/daughters of the entrepreneurs have provided methodologies and commitment to foster the digital transformation.

          Related collections

          Most cited references46

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          Dynamic capabilities and strategic management

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            THEORY BUILDING FROM CASES: OPPORTUNITIES AND CHALLENGES.

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              An Evolutionary Theory of Economic Change

              This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
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                Author and article information

                Journal
                Measuring Business Excellence
                MBE
                Emerald
                1368-3047
                1368-3047
                November 28 2019
                November 28 2019
                : 23
                : 4
                : 472-483
                Article
                10.1108/MBE-06-2019-0058
                3699fee1-3f65-49ba-b9c3-f2aabb954821
                © 2019

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