Abstract
Purpose - This conceptual paper aims to present a perspective on how to engineer sustainability through the prism of Industry 4.0 technologies and outline propositions to guide future research.
Design/methodology/approach – This study presents a literature review developing four research propositions, focusing on the nine leading technologies underpinning Industry 4.0 to engineer economic, environmental, and social sustainability dimensions.
Findings - We derive benefits and challenges of Industry 4.0 technologies across all three business model elements: value creation, value delivery, and value capture. We derive those for the economic, environmental, and social dimensions of sustainability. Thereupon, we develop several propositions for future research.
Originality/value - The paper contributes to extant literature by conceptualising how Industry 4.0 can leverage value in reaching sustainability in all three dimensions and produce broader ecosystems-wide impacts.
Practical implications – We provide suggestions to practice how to better achieve value in all three sustainability dimensions through implementing a business model perspective, ecosystem thinking, societal demands, and Data Governance and AI integration.
Social implications - By linking societal aspects of Industry 4.0 technologies with
environmental, and economic aspects, we provide several suggestions how to implement Industry 4.0. For instance, policymakers are recommended to support entire ecosystems than isolated solutions.
Design/methodology/approach – This study presents a literature review developing four research propositions, focusing on the nine leading technologies underpinning Industry 4.0 to engineer economic, environmental, and social sustainability dimensions.
Findings - We derive benefits and challenges of Industry 4.0 technologies across all three business model elements: value creation, value delivery, and value capture. We derive those for the economic, environmental, and social dimensions of sustainability. Thereupon, we develop several propositions for future research.
Originality/value - The paper contributes to extant literature by conceptualising how Industry 4.0 can leverage value in reaching sustainability in all three dimensions and produce broader ecosystems-wide impacts.
Practical implications – We provide suggestions to practice how to better achieve value in all three sustainability dimensions through implementing a business model perspective, ecosystem thinking, societal demands, and Data Governance and AI integration.
Social implications - By linking societal aspects of Industry 4.0 technologies with
environmental, and economic aspects, we provide several suggestions how to implement Industry 4.0. For instance, policymakers are recommended to support entire ecosystems than isolated solutions.
Original language | English |
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Journal | Sustainability Accounting, Management and Policy Journal |
Early online date | 11 Dec 2024 |
DOIs | |
Publication status | Published - 11 Dec 2024 |
Keywords
- Industry 4.0
- Sustainability
- Circular Economy
- Digital Transformation
- Ecosystems