The Impact of Industry 4.0 on Innovative Organisations, A Thematic Review using the PRISMA Statement 2020

Abstract

The fast growth of technologies during the Industry 4.0 era resulted in new or evolved organisations forming. Throughout the Fourth Industrial Revolution, the interaction between technology and humans evolved. Furthermore, the skills and capacities of individuals and organisations are changing due to the abundance of technology. This study investigated the impact of industry 4.0 on innovative organisations and used thematic analysis to identify the major themes. VOS viewer content analysis and critical terms of occurrences analysis were used to identify the major themes. In addition, the PRISMA statement 2020 is applied for the methodological part. The results indicate three significant themes business models, innovative organisations, and digital transformation. The findings show that changes in the global economy and market needs are forcing businesses to adopt technical breakthroughs made possible by digital transformation. it is considered that adequate resources, experienced and capable workers, and well-organized, adequately adaptable, and creative procedures are required for innovative organisations. In addition, HRM practises in the digital era must incorporate teleworking, promote employee engagement in achieving the aim of digital transformation, and incentivise a proper leadership style. Also, technological advancement drives businesses to innovate in their everyday production, supply, value chains, and numerous operations, allowing them to adapt quickly to client requests.