Influence of Industry 4.0 on the success of new-age enterprises – a resource-based view

Abstract

Purpose

This study aims to assess the influence of Industry 4.0 (I4.0) technologies using the resource-based view (RBV) framework to examine the impact of new-age enterprises. It means to investigate the impact of different resources on competitive advantages’ steering toward the contemporary business environment.

Design/methodology/approach

The paper investigates the critical success factors (CSFs) for the efficient implementation of I4.0 technologies and the importance of technological resources. This paper applies the Grey-DEMATEL technique to examine each of these CSFs to better understand the cause-and-effect relationships therein and to come up with a holistic view of how the CSFs are interdependent.

Findings

The major findings reveal that Adventure Tendency, Continuous Improvement and Creative Technology Utilization play a major role in the success of new-age enterprises. The paper concludes with suggestions to align technological abilities with market needs, and the entrepreneurial skill-set into simultaneously utilizing I4.0 technologies for innovation and growth.

Originality/value

This study contributes to the RBV framework literature by combining technological, human and organizational resources, specifically within I4.0, and offers theoretical and practical contributions for sustaining competitive advantage.