Analysis of 2017 Gartner’s Three Megatrends to Thrive the Disruptive Business, Technology Trends 2008-2016, Dynamic Capabilities of VUCA and Foresight Leadership Tools

Nowadays, digitalization is the key element of business competition. This paper analyzes the concept of dynamic capabilities in the context of technological and business digitalization. We investigate the dynamic competence needed to create and manage a new Digital business, which is emerging from the technological transformation. Firstly, in this paper, we analyze the data of Gartner Hype Cycles 2008-2017. Thus, we present a comparative analysis of the changes in the Gartner hype cycle. Secondly, our aim is to present Gartner´s three distinct megatrends. We will present a summary of these Gartner evaluations and discuss key tendencies and trends of technological changes. Thirdly, the special focus of this article is the challenges of orchestration of dynamic capabilities in the special conditions of VUCA business disruptive business competition. Further, we define the role of competence gap identification inside a firm. Finally, we are presenting some useful tools to manage dynamic capabilities

Analysis of 2017 Gartner’s Three Megatrends to Thrive the Disruptive Business, Technology Trends 2008-2016, Dynamic Capabilities of VUCA and Foresight Leadership Tools

Nowadays, digitalization is the key element of business competition. This paper analyzes the concept of dynamic capabilities in the context of technological and business digitalization. We investigate the dynamic competence needed to create and manage a new Digital business, which is emerging from the technological transformation. Firstly, in this paper, we analyze the data of Gartner Hype Cycles 2008-2017. Thus, we present a comparative analysis of the changes in the Gartner hype cycle. Secondly, our aim is to present Gartner´s three distinct megatrends. We will present a summary of these Gartner evaluations and discuss key tendencies and trends of technological changes. Thirdly, the special focus of this article is the challenges of orchestration of dynamic capabilities in the special conditions of VUCA business disruptive business competition. Further, we define the role of competence gap identification inside a firm. Finally, we are presenting some useful tools to manage dynamic capabilities

Analysis of 2017 Gartner’s Three Megatrends to Thrive the Disruptive Business, Technology Trends 2008-2016, Dynamic Capabilities of VUCA and Foresight Leadership Tools

Nowadays, digitalization is the key element of business competition. This paper  analyzes the concept of dynamic capabilities in the context of technological and business digitalization. We investigate the dynamic competence needed to create and manage  a new Digital business, which is emerging from the technological transformation. Firstly, in this paper, we analyze the data of Gartner Hype Cycles 2008- 2017. Thus, we present a comparative analysis  of the changes in the Gartner hype cycle.    Secondly, our aim is to present Gartner ́s three  distinct megatrends. We will present a  summary of these Gartner evaluations and discuss key tendencies and trends of  technological changes. Thirdly, the special focus of this article is the challenges of  orchestration of dynamic capabilities in the special conditions of VUCA business disruptive business competition. Further, we define the role of competence gap  identification inside a firm. Finally, we are presenting some useful tools to manage dynamic capabilities.</div

Using interpretive structural modeling to uncover shared mental models in IS research

Today’s growth of the service sector as a whole has created demand for more efficient service production. Many services require interaction between customers and service personnel, whereas some can be automated into self-services. In this study, we focus on services, that are neither purely human facilitated, nor purely automated, and contain uncertainty in the production process. Based on resource centric theories of strategy and research on uncertainties in service production, we introduce a research framework to evaluate efficient solutions for service production. Our research framework looks at environmental and informational uncertainties, and how an organization can adapt to these by utilizing technology or skilled labour. Illustrated with a case company, we show how mobile information systems can be used to manage service production related uncertainties, which are also typically barriers to standardization. The case study demonstrates how informational uncertainty could be more easily controlled using the new system. The job satisfaction of the workers was increased and their turnover and training time was decreased. Additionally, customer complaints were reduced and invoicing became more efficient. These enabled the company to enhance the efficiency of the service production processes further, moving closer to standardizing and automating the service production process within an uncertain environment

Proliferation of Digital Twins: Towards new horizons of Digital Twin-technology

Digital Twin (DT) technology is at the forefront of the manufacturing integration of informatization and industrialization, pairing the datafied virtual world with the physical world of advanced manufacturing. It is a digital representation mirroring real-life objects, processes or systems, and as such DT is the spearhead of rapidly developing virtual simulation technology. While the concept of Digital Twins is relatively new, attention to the technology has exploded in recent years both in academia and among businesses. This is e.g. reflected by the placement of Digital Twin at the very peak of the Gartner Hype Cycle for 2019. Grasping the opportunities provided by Digital Twin-technology is therefore paramount in order to assess the current state-of-the-art of intelligent manufacturing, but also in order to fully exploit the potential benefits of intelligent manufacturing in an Industry 4.0-society.This paper first assesses the historical development of the Digital Twin-concept from the first proposition of the concept around 2002, through the incubation stage to the current growth stage. The paper then briefly examines the current state-of-the-art of Digital Twin in manufacturing through design, manufacturing, the use phase, and on to maintenance, repair and operation (MRO). After this, the remarkable current proliferation of the Digital Twin-concept is discussed. Now the concept is not only gradually expanding into more and more areas of the operating environment of the manufacturing industry, Digital Twin is also put to use in radically different contexts. There are increasingly Digital Twins of physical places, and DT is becoming an important tool for town planning and urban development. Smart City Digital Twins (SCDT) illuminates cities’ human-infrastructure-technology interactions, enables informed urban development choices and rapid responses to emergency situations. In 2019, the new Indian state capital Amaravanti, is thought to be the first ever city born with a Digital Twin approach. DTs are also used to simulate processes, and the idea of modelling complete operational environments for Digital Twin of an Organisation (DTO) is emerging. Also Personal Digital Twins (PDT) are appearing on the horizon as intelligent decision-assistance systems based on data algorithms and machine learning, aiding individuals in navigating through data-rich communication with machines, systems and other PDTs. Integrating digital, physical and social realms through PDTs can create superior customer experiences in both business-to-business and business-to-consumer markets and indeed fundamentally alter these markets. We can also expect that in the future novel products and services are innovated to Digital Twins, which is a novel challenge for companies and corporations. While digital twin in manufacturing and digital twins of smart cities has received significant academic attention in recent years, literature on DTOs and PDTs are hitherto very sparse. With the introduction and discussion of these concepts, the article therefore provides a significant contribution to the academic literature on digital twins.</p

Evaluation of the Implementation of Smart Specialisation Strategy in Lithuanian Industry

This article provides data-driven analyses of Lithuanian foreign trade activities. We combine Herfindahl-Hirschman Index (HHI) and Lauraéus-Kaivo-oja Index (LKI) measures to identify key changes and trends in export and import structures of the Lithuanian economy. The findings suggest that the export and import portfolios of the Lithuanian economy have been successfully diversified and the Lithuanian Smart Specialisation Strategy (S3) successful implemented in years 2015 through 2020. Presented in the form of HHI and LKI time series, our findings and the corresponding conclusions will be relevant to both the Lithuanian export and import industry and to industrial and economic policymakers in Lithuania and in international export and import agencies.</p

Human factors and ergonomics in manufacturing in the Industry 4.0 context – A scoping review

Industry 4.0 revolution has brought rapid technological growth and development in manufacturing industries. Technological development enables efficient manufacturing processes and brings changes in human work, which may cause new threats to employee well-being and challenge their existing skills and knowledge. Human factors and ergonomics (HF/E) is a scientific discipline to optimize simultaneously overall system performance and human well-being in different work contexts. The aim of this scoping review is to describe the state-of-the-art of the HF/E research related to the industry 4.0 context in manufacturing. A systematic search found 336 research articles, of which 37 were analysed utilizing a human-centric work system framework presented in the HF/E literature. Challenges related to technological development were analysed in micro- and macroergonomics work system frameworks. Based on the review we frame characteristics of an organisation level maturity model to optimize overall sociotechnical work system performance in the context of rapid technological development in manufacturing industries.</p

Future avenues of digital transformation : Next steps?

This chapter discusses future avenues of digital transformations. As public value-creation from data and digitalization becomes increasingly important for public innovation, the chapter suggests three complementary strategical directions for the public sector: experimental government, inclusive government, and anticipatory government. The directions could help governments induce innovation, helping us create “the future we want”, as the declaration behind the Sustainable Development Goals puts it. The chapter discusses, among other things, the benefits of learning by doing, the emergence of public–private digital ecosystems and platforms, and the impact of new waves of artificial intelligence.Peer reviewe

The 4thTECHNIUM International Conference Abstracts

Although emerging, disruptive and innovative technologies have been extensively researched, less attention has been paid to their impact on new business and business models. Often, innovative business models are linked to technologies. However, it can be argued that even radical innovations can have little impact on the market if the business model remains the same. However, the technological innovation of the future may have a revolutionary effect on the market and its business models. Service-based business models are bringing a number of new innovations to the market. In this paper, we present the so-called a “magic triangle” that describes the definition of a business model. The definition of a business model takes a position on three main questions of the triangle: (1) What is offered to the customer?, (2) how is value created? and (3) what is the value of the activity to the customer? In addition, the business model presents who is doing all this? These responses contribute to the business model’s revenue model, value network, and value proposition. The value proposition is related to what is offered to customers. The income model is related to how a company’s revenue stream is created. Further, the value network connects to how the value promise is created.The development of new innovative technologies is related to all these key issues of the business model, either directly or indirectly. Innovative technology affects what can be offered to a customer. The technology of the future is also related to how the revenue stream is created and how the value proposition is created. In principle, technological developments have gradually increased the supply and offer of various products and services. Technological development has also made it possible to e.g. digitalization brings new ways to create value and develop new revenue models. Likewise, technological advances have enabled new ways of organizing value networks.Business models and especially their practical implementation are based on the utilization of dynamic capabilities in companies. As David J. Teece (2018) has stated: Business models, dynamic capabilities, and strategy are always interrelated technology foresight. In addition, this is related to the phase of identifying new opportunities for a business. A company needs dynamic capabilities to be able to implement the business model of its choice. The current research aims to support companies and other societal organizations to identify the opportunities offered by future technology and thus promote the development of new innovative business models.</p

Reimagining Finland as a manufacturing base

After decades of globalization and outsourcing the idea of "bringing manufacturing back home" and the twin concepts of backshoring and nearshoring have received much attention in recent years. Recent positive stories from the Finnish manufacturing industry suggests Finland as an attractive target for nearshoring, yet little to none has hitherto been made of this connection. This article (i.) examines recent relocation literature with a focus on nearshoring and manufacturing in high-cost environments, (ii.) explores the location advantage of Finland, (iii.) analyses cases of recent manufacturing developments in Finland within this context as single incidents or signals of change, and (iv.) discusses this development within the perspective of Industry 4.0.Peer reviewe