Critical success factors in value chain-oriented strategy in Industrial Service 4.0

Behler, Juri (2019) Critical success factors in value chain-oriented strategy in Industrial Service 4.0. DBA thesis, Middlesex University / KMU Akademie & Management AG. [Thesis]

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Abstract

Due to the rapid rise of computing power in recent years, new and advanced opportunities for data collection and data processing have arisen. This digitization trend has also been very well received in the industrial world and is reflected in the concept of industry 4.0. The term industry 4.0 encompasses many changes in the industrial service economy as well. As a result of these changes, new business models are emerging in this economic sector. One of these, the value chain-oriented strategy, is based upon the typology of Bruhn et al. and is characterized by a high degree of immateriality of the service, a high degree of integration within the value chain of the customer, a high degree of individuality and a high degree of interaction with partners in the business ecosystem. In the age of big data, the internet of things, cloud computing, and edge computing and analytics, this business model takes a new form which is determined by these new technological opportunities. Many companies have recognized the great potential of this technological development and are heavily investing in the resulting future markets. This study addresses the gap in current knowledge regarding the needed empirical study and identification of the critical success factors of this strategy type in the industrial service business in the context of industry 4.0. This study is primarily based on the resources-oriented approach of strategic management and has an explorative character. As a result, 38 critical success factors – which are decisive factors in either success or failure – are identified and analysed. These factors are grouped into the following categories: acceptance, customer satisfaction, investments, partner management in the service ecosystem, organizational structures, leadership, personnel, talent management, development and innovation, strategy, and processes. The findings are also discussed in view of current scientific findings in this research field. This thesis also presents concrete recommendations for management practice and discusses the implications of the findings for further research.

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