Innovation in a Context of Declining Returns to R&D

2019 ◽  
Vol 11 (4) ◽  
pp. 34-51
Author(s):  
Chris William Callaghan
Keyword(s):  
Problem Solving ◽  
Absorptive Capacity ◽  
Industrial Revolution ◽  
Innovation Process ◽  
Future Research ◽  
Novel Technologies ◽  
Fourth Industrial Revolution ◽  
Conceptual Paper ◽  
New Form ◽  
Over Time

Innovation theory has arguably driven the innovations that have contributed to human development over time. According to discussions related to the ‘Fourth Industrial Revolution,' interactions of novel technologies herald an age of unequalled productivity and human progress. Evidence however suggests that returns to innovation (narrowly defined here as investments in R&D), are in fact continuing to decline. Given this paradox, the objective of this conceptual paper is to present an argument drawn from theory that it is only a matter of time until declining returns to innovation reverse themselves and a new form of R&D problem solving becomes more widely utilised. If the propositions offered here are borne out by future research, then an important reconceptualization of the nature of the innovation process might be useful, one that questions Cohen and Levinthal's notion of absorptive capacity and path dependency as the primary mode of innovation problem solving.

Understanding the influence of technological capability and exogenous pressure on business model dynamics: insights from a longitudinal case study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jingqin Su ◽  
Shuai Zhang ◽  
Huanhuan Ma
Keyword(s):  
Business Model ◽  
New Technology ◽  
Innovation Process ◽  
Technological Capability ◽  
Future Research ◽  
Longitudinal Case Study ◽  
Content Type ◽  
Research Stream ◽  
Over Time

PurposeThe purpose of the study is to explore how technological capability and exogenous pressure interactively influence business model (BM) dynamics over time in new technology-based ventures.Design/methodology/approachThe study adopts a longitudinal case study of the BM innovations of a Chinese financial technology venture. The structural approach and temporal bracket are used to analyze and theorize the data.FindingsThe findings indicate that distinct contextual changes impel a firm to refine or abandon existing BMs over time. In different stages, the antecedents interactively influence BM dynamics with three successive patterns, namely pressure dominance, parallel influence and hybrid influence. While both antecedents trigger changes during the initiation and implementation of new BMs, they also serve as the filter and the enabler, respectively, during the ideation and integration of BMs.Research limitations/implicationsThe study inductively develops three propositions regarding the relationship between BM dynamics and its antecedents, which is based on the data collected from one single firm. Future research should test the propositions in other domains and take more cross-level antecedents into consideration.Originality/valueThe study contributes to the nascent research stream of BM dynamics by offering in-depth insights into the interaction of internal and external antecedents and by linking the differentiated roles of antecedents to the BM innovation process. The research offers some practical implications for new technology-based ventures seeking to develop BMs in a fast-changing environment.

Pedagogical Orientation in the Fourth Industrial Revolution

2021 ◽  
pp. 1044-1063
Author(s):  
Byabazaire Yusuf ◽  
Abdul Hamid Busthami Nur
Keyword(s):  
Problem Solving ◽  
Flipped Classroom ◽  
Industrial Revolution ◽  
Thinking Skills ◽  
Problem Solving Skills ◽  
Fourth Industrial Revolution ◽  
Collaborative Environment ◽  
Community Stakeholders ◽  
Part Time ◽  
Time Basis

Redesigning higher education is one of the most widely discussed topics among educators, parents, and other community stakeholders. This is due to the current developments in digital technologies and onset of the fourth industrial revolution which is set to alter the way people live and work. This chapter suggests the implementation of the flipped classroom model as an appropriate approach for equipping students with creative abilities, problem solving skills, thinking skills, and lifelong learning skills. Eight in-service teachers pursuing a postgraduate course on a part-time basis participated in a qualitative study. The study was conducted using asynchronous virtual focus group dialogue sessions. The study addressed three main questions: 1) why they adopted a flipped classroom model, 2) how they implemented it, and 3) what fourth industrial revolution skills were developed using this model. On the whole, this approach created an active and collaborative environment which enabled students to demonstrate their creativity and problem solving skills needed for future careers.

Prospects of the fourth industrial revolution for the hospitality industry: a literature review

2020 ◽  
Vol 11 (3) ◽  
pp. 479-494
Author(s):  
Benjamin Appiah Osei ◽  
Neethiahnanthan Ari Ragavan ◽  
Henry Kofi Mensah
Keyword(s):  
Literature Review ◽  
Hospitality Industry ◽  
Industrial Revolution ◽  
Tourism Industry ◽  
Service Industries ◽  
Future Research ◽  
Content Type ◽  
Fourth Industrial Revolution ◽  
Hospitality And Tourism ◽  
The Impact

Purpose The economy of today has moved toward the fourth industrial revolution (FIR), which is characterized by the adoption of technologies such as cyber-physical systems, internet of things, big data, artificial intelligence and robotics. Globally, there is a lot of awareness created on the influence of the FIR on all industries, including hospitality and tourism. A plethora of studies on FIR have been conducted in the setting of manufacturing industries. Nonetheless, there seems to be in-exhaustive and non-consensual agreement among researchers as to the development and prospects of the FIR for service industries. Therefore, the aim of this paper was to comprehensively review the prospects of the FIR for the hospitality and tourism industry. Design/methodology/approach As a result of the novelty and gaps associated with the FIR in the hospitality literature, the authors explored the concept of FIR using a comprehensive literature review approach. Specifically, this paper reviews existing literature from diverse academic backgrounds, and annotates issues with regard to the evolution and prospects of the FIR for the hospitality industry. Findings Emphatically, the development and principles of FIR were expatiated. Additionally, an exegesis was carried out on the prospects (positives and challenges) of FIR for the hospitality industry. Finally, practical and social implications were also discussed. Originality/value It still remains a discourse among scholars and industry stakeholders as to the prospects of the FIR. This paper clarifies the confusion among researchers and bridges the literature gaps. Moreover, this review serves as a theoretical foundation for future research on the impact of FIR on the hospitality industry.

Unveiling blockchain as a strategic resource

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Keyword(s):  
Design Methodology ◽  
Reading Time ◽  
Industrial Revolution ◽  
Smart Contracts ◽  
Competitive Advantages ◽  
Content Type ◽  
Fourth Industrial Revolution ◽  
Pertinent Information ◽  
Conceptual Paper ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings This conceptual paper concentrates on the strategic use of blockchain as a way of organizations gaining ongoing competitive advantages. Moving deeper into the fourth industrial revolution, the organizational advantages of blockchain implementation are the secure, verifiable, peer-to-peer transparency of agreement or communication mechanisms like smart contracts, since they can enhance organizational efficiency and therefore competitive performance. However, blockchain currently remains in a nascent phase on a practical use level, meaning organizations can now strategically prepare to adopt its capabilities in future. This is done by teams educating themselves about blockchain, and by defining problems that the technology could solve. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The Imaginary Structure of the Fourth Industrial Revolution

2019 ◽  
pp. 63-79
Author(s):  
Thomas Michaud
Keyword(s):  
Science Fiction ◽  
Industrial Revolution ◽  
Social Groups ◽  
Critical Dimension ◽  
Structuring Element ◽  
Fourth Industrial Revolution ◽  
Global Innovation ◽  
New Form ◽  
Design Fiction ◽  
Innovation Processes

Science fiction is increasingly involved in innovation processes in technological sectors. The imaginary, through design fiction, stimulates the creativity of decision makers and engineers who work to create a better world through technoscience. Science fiction participates in global innovation by constructing sectoral myths and by proposing a new form of rationality integrating the technical imaginary. Imaginnovation is a neologism, a synthesis of the terms imagination and innovation. This practice, already developed in several companies and organizations, will guide the decision-making process during the next industrial revolution. Science fiction appeared more than 200 years ago, when technical progress profoundly changed society. It later became an integral dimension of collective psychology. Its critical dimension must also be considered as a structuring element of the contemporary technical imagination. Innovation realizes imagination and science fiction allows the productive system to access the unconscious fantasies of individuals and social groups.

Evaluating Collective and Creative Problem-Solving Approaches and Tools for Wicked Problems

2021 ◽  
pp. 41-68
Author(s):  
Ziska Fields
Keyword(s):  
Problem Solving ◽  
Industrial Revolution ◽  
Wicked Problems ◽  
Unintended Consequences ◽  
Creative Problem Solving ◽  
Fourth Industrial Revolution ◽  
New Ideas ◽  
Creative Problem ◽  
Silver Bullet

Societies and businesses are faced with problems that contain too many new, unknown, and unintended consequences and even more so as humans have to face and deal with more complexity created by the Fourth Industrial Revolution. These problems have become ‘wicked problems'. Creativity is needed to solve problems as it allows people to create new ideas by using their mental toolkit, creative characteristics and behaviours. It is possible to solve wicked problems using collective and creative problem-solving approaches and tools. This means that people need to work together to generate creative ideas to find novel and breakthrough solutions. To try and find a “silver bullet” to solve wicked problems, various problem-solving approaches and tools were evaluated and it became evident that a combination of approaches supported by various tools might lead to solving wicked problems collectively and creatively.

The Impact of Unified Communication and Collaboration Technologies on Productivity and Innovation

2020 ◽  
pp. 44-73
Author(s):  
Anthony Bolton ◽  
Leilani Goosen ◽  
Elmarie Kritzinger
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Cyber Physical Systems ◽  
Future Research ◽  
Research Directions ◽  
Fourth Industrial Revolution ◽  
Emerging Trends ◽  
Future Research Directions ◽  
The Impact ◽  
Collaboration Technologies

Against the background of promoting inclusive growth in the context of the Fourth Industrial Revolution (4IR), the purpose of this chapter is to introduce Industry 4.0 in terms of the impact of Unified Communication and Collaboration (UC&C) technologies on productivity and innovation within a global automotive enterprise. To provide readers with a further overview of, and summarize, the content of the chapter, issues, controversies, problems, and challenges related to Industry 4.0 adoption, including, for example, Cyber-Physical Systems (CPS), are discussed. Solutions and recommendations for dealing with the issues, controversies, and/or problems are presented, and the chapter will also discuss future research directions and emerging trends, together with providing insight about the future of the book's theme from the perspective of the chapter focus on the impact of UC&C technologies on productivity and innovation. The last section will provide discussion of the overall coverage of the chapter and concluding remarks.

Evaluation of Influence of Principles Involved in Industry 4.0 Over Coal Industries Using TISM

2021 ◽  
pp. 926-940
Author(s):  
Bathrinath Sankaranarayanan ◽  
Rahul K. ◽  
Pradeep J. ◽  
S. G. Ponnambalam ◽  
Saravanasankar S.
Keyword(s):  
Renewable Energy ◽  
Adverse Effects ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Future Research ◽  
Interpretive Structural Modeling ◽  
Smart Transportation ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Sustainable Extraction

Coal is the major source of energy in the world. But, the process of extraction and use of coal has adverse effects on the environment. In this chapter, the authors try to reduce these effects by considering the principles and technologies involved in Industry 4.0, also known as the Fourth Industrial Revolution. From a few expert reviews and research works, eight crucial factors were taken into account and were analyzed. The eight factors are consumer, water resources, smart transportation, smart factory, smart grid, smart mining, smart home, and renewable energy. The analysis has been made using the total interpretive structural modeling (TISM) method. The model distinctly demonstrates the influence of the principles of Industry 4.0 over coal industries. This chapter also aims to pave the way for future research and tries to contribute towards the sustainable extraction and usage of coal in energy industries. Consumer plays the most influential role in this regard.

Anomaly Detection and Classification in Predictive Maintenance Tasks with Zero Initial Training

IoT ◽  
2021 ◽  
Vol 2 (4) ◽  
pp. 590-609
Author(s):  
Filippo Morselli ◽  
Luca Bedogni ◽  
Umberto Mirani ◽  
Michele Fantoni ◽  
Simone Galasso
Keyword(s):  
Machine Learning ◽  
Anomaly Detection ◽  
Industrial Revolution ◽  
Learning Algorithms ◽  
Machine Learning Algorithms ◽  
Predictive Maintenance ◽  
Initial Training ◽  
Novel Technologies ◽  
Fourth Industrial Revolution

The Fourth Industrial Revolution has led to the adoption of novel technologies and methodologies in factories, making these more efficient and productive. Among the new services which are changing industry, there are those based on machine learning algorithms, which enable machines to learn from their past observations and hence possibly forecast future states. Specifically, predictive maintenance represents the opportunity to understand in advance possible machine outages due to broken parts and schedule the necessary maintenance operations. However, in real scenarios predictive maintenance struggles to be adopted due to a multitude of variables and the heavy customization it requires. In this work, we propose a novel framework for predictive maintenance, which is trained online to recognize new issues reported by the operators. Our framework, tested on different scenarios and with a varying number and several kinds of sensors, shows recall levels above 0.85, demonstrating its effectiveness and adaptability.

Industry 4.0: proposing a framework

2020 ◽  
Vol 8 (6) ◽  
pp. 250-267
Author(s):  
Carlos Eduardo Silva ◽  
Rodolfo Cardoso ◽  
Ramon Baptista Narcizo ◽  
Luiza Maciel Gonçalves ◽  
Yohana Carvalho
Keyword(s):  
Quantitative Analysis ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Future Research ◽  
Fourth Industrial Revolution ◽  
The Subject ◽  
Scopus Database ◽  
Technological Clusters ◽  
Practical Implications

The term Industry 4.0 has gained prominence in academic and business discourses in recent years, having its concept related to the so-called fourth industrial revolution. Goal: The present research aims to develop and present a framework with the concepts of Industry 4.0. Methodology: The study started from a quantitative analysis of the academic articles available in the Scopus database. Subsequently, a qualitative analysis of articles and technical reports (mostly) was carried out to obtain a more applied technological vision in the industry. With this, technological clusters were built and, finally, the Industry 4.0 framework was proposed. Results: As a result, it was possible to establish an overview of the publications, highlighting the main conceptual views of the different terms that converge for the fourth industrial revolution, as well as the main technologies associated with Industry 4.0, systematizing the knowledge in the industry 4.0 framework. Limitations of the investigation: The search has been limited to available and selected papers for reading. Practical implications: The practical contribution has been satisfactorily evaluated to assist future research on the subject. Value: Finally, the main contribution of the work is the creation of a framework that synthesizes and systematizes the relationships among the main characteristics, technologies, products and business models of the 4.0.

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