THE MAJOR CHALLENGES FACING ORGANISATIONS TO CREATE TECHNOLOGY-ENABLED VALUE IN THE FOURTH INDUSTRIAL REVOLUTION: A DYNAMIC CAPABILITIES PERSPECTIVE IN SOUTH AFRICA

Authors

  • Jonatan Jacobs Department of Engineering and Technology Management, Graduate School of Technology Management, University of Pretoria, South Africa
  • Marthinus Willem Pretorius Department of Engineering and Technology Management, Graduate School of Technology Management, University of Pretoria, South Africa

DOI:

https://doi.org/10.7166/31-2-2345

Keywords:

Dynamic Capabilities, Fourth Industrial Revolution, Value Creation, Technology and Innovation

Abstract

Organisations are finding it increasingly difficult to create value in the current dynamic, globalised, interconnected, and ever more complex business and technology environments. The Fourth Industrial Revolution (FIR) is set to increase these challenges as a result of the increasing complexity and dynamic changes in market, societal, and technological trends. While current technological trends potentially offer great value to organisations, emerging technological implementations and transformations often fail to realise the desired value-creation outcomes. Following an exploratory study with qualitative interviews, it was determined that most of these challenges to technology-enabled value-creation initiatives, in the current FIR related environment, can be linked to a dynamic capabilities perspective of strategic management. This perspective encompasses the enabling capabilities and strategic alignment between the external environment, an organisation’s strategies, its strategy execution, and its capability creation, adaptation, and management.

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Author Biographies

Jonatan Jacobs, Department of Engineering and Technology Management, Graduate School of Technology Management, University of Pretoria, South Africa

PhD Student 2019 at Graduate School of Technology Management, Department Engineering and Technology Management, University of Pretoria

Marthinus Willem Pretorius, Department of Engineering and Technology Management, Graduate School of Technology Management, University of Pretoria, South Africa

Associate Professor at Graduate School of Technology Management, Department Engineering and Technology Management, University of Pretoria

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Published

2020-08-30

How to Cite

Jacobs, J., & Pretorius, M. W. (2020). THE MAJOR CHALLENGES FACING ORGANISATIONS TO CREATE TECHNOLOGY-ENABLED VALUE IN THE FOURTH INDUSTRIAL REVOLUTION: A DYNAMIC CAPABILITIES PERSPECTIVE IN SOUTH AFRICA. The South African Journal of Industrial Engineering, 31(2), 40–61. https://doi.org/10.7166/31-2-2345

Issue

Vol. 31 No. 2 (2020)

Section

General Articles

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