The Resource-Based View (RBV) Competitive Advantage of Firms in The Context of Industry 4.0

Abstract

Resource-based view strategies have attracted the attention of many academicians, however, under the new context of Industrial Revolution 4.0, the factors, namely the resources and capacities of firms, should be audited in order that the updated characteristics will be clarified in this new context. The qualitative method with the emphasis on analyzing the current available online sources is the key data of this paper. The findings show that there have been many changes in the way the functions in the value chain of the company operate, including marketing, human resource management, supply chain management and finance management. The changes needed for the Industry 4.0 have been summarized into two most important key success factors in the IR 4.0. They are the information technology capacity and new relevant skills for talent. Other specific strategies to upgrade and leverage resources and capacities have been suggested. The paper, however, has limitations due to time pressure and data collection method that need more deeply quantitative and qualitative researches to triangulate outcomes while many drawbacks of IR 4.0 should also be identified and addressed.