Birkel H, Veile J, Müller J, Hartmann E, Voigt KI (2019)
Publication Type: Journal article
Publication year: 2019
Book Volume: 11
Pages Range: 384
Journal Issue: 2
URI: https://www.mdpi.com/2071-1050/11/2/384
DOI: 10.3390/su11020384
Open Access Link: https://www.mdpi.com/2071-1050/11/2/384
The concept of “Industry 4.0” is expected to bring a multitude of
benefits for industrial value creation. However, the associated risks
hamper its implementation and lack a comprehensive overview. In
response, the paper proposes a framework of risks in the context of
Industry 4.0 that is related to the Triple Bottom Line of
sustainability. The framework is developed from a literature review, as
well as from 14 in-depth expert interviews. With respect to economic
risks, the risks that are associated with high or false investments are
outlined, as well as the threatened business models and increased
competition from new market entrants. From an ecological perspective,
the increased waste and energy consumption, as well as possible
ecological risks related to the concept “lot size one”, are described.
From a social perspective, the job losses, risks associated with
organizational transformation, and employee requalification, as well as
internal resistance, are among the aspects that are considered.
Additionally, risks can be associated with technical risks, e.g.,
technical integration, information technology (IT)-related risks such as
data security, and legal and political risks, such as for instance
unsolved legal clarity in terms of data possession. Conclusively, the
paper discusses the framework with the extant literature, proposes
managerial and theoretical implications, and suggests avenues for future
research.
APA:
Birkel, H., Veile, J., Müller, J., Hartmann, E., & Voigt, K.-I. (2019). Development of a Risk Framework for Industry 4.0 in the Context of Sustainability for Established Manufacturers. Sustainability, 11(2), 384. https://dx.doi.org/10.3390/su11020384
MLA:
Birkel, Hendrik, et al. "Development of a Risk Framework for Industry 4.0 in the Context of Sustainability for Established Manufacturers." Sustainability 11.2 (2019): 384.
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