Businesses increasingly recognize the growth opportunities offered by digitalization and interconnectedness. These technologies are enabling new business models, efficient use of resources, and cost-effective production of highly customizable products. These developments are collectively referred to as “Industry 4.0.”
Numerous studies have explored companies’ attitudes towards digital transformation and the opportunities and obstacles associated with it. The latter are rarely confined to a lack of technologies or standards. In many cases, faltering implementation of Industry 4.0 is due to rigid organizational structures and a conservative culture where people lack courage to do things differently.