Abstract
Our world is facing substantial economic and social challenges due to an increasing pace of technological developments. The introduction of the Internet of Things (IoT) is ushering in a fourth industrial revolution. The vision of Industry 4.0 describes a whole new approach to business operations, and especially the production industries which is characterized by a new level of socio-technical interaction. Emphasizing the importance of intangibles management, organizations have become increasingly focused on the Intellectual Capital (IC) as the main source of value creation. From a strategic point of view, IC is linked to the ability to create and apply the potential of an organizations knowledge based capabilities, and is commonly categorized into three main components: human, structural and relational capital. The industry 4.0 is changing the way we create value which requires from organizations and individuals a rethinking of what is expected or desired from the internet-connected devices. As a phenomenon of interactions and complementarities, IC can offer a possible pathway for reconfiguring business models. The contribution of this work is mainly conceptual. The aim of this paper is to explore what has been researched so far about the importance of industry 4.0 with impact in organizational value creation and how the theory of intellectual capital can help to leverage its benefits. To achieve this objective, a comprehensive review of journal articles, conference papers, books and international reports was performed.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
World Economic Forum (2017) Realizing human potential in the fourth industrial revolution: an agenda for leaders to shape the future of education, gender and work
Baygin M, Yetis H et al (2016) An effect analysis of industry 4.0 to higher education. In: International Conference on information technology based higher education and training, pp 1–4
Bene\(\check{s}\)ov\(\acute{a}\) A, Tupa A Ji\(\breve{r}\)\(\acute{i}\) et al (2017) Requirements for education and qualification of people in industry 4.0 (11):2195–2202
Blanchet M (2014) Industry 4.0-the new industrial revolution
Bontis N (2001) Managing organizational knowledge by diagnosing intellectual capital: framing and advancing the state of the field. IGI Global
Brynjolfsson E (2014) The second machine age: work, progress, and prosperity in a time of brilliant technologies. Fir. W.W. Norton & Company
Cabrita MDR (2008) Intellectual capital and business performance in the portuguese banking industry. Int J Technol Manag 43(43):1–3212
Cabrita MDR (2009) Intellectual capital: a phenomenon of interrelationships. Int J Bus Syst Res 3(2):229–256
Cabrita MDR, Vaz JLD (2005) Intellectual capital and value creation: Evidencing in portuguese banking industry. In: European conference on knowledge management, September 8–9, 2005. University of Limerick, Ireland, pp 98–106
Chang CH, Chen YS (2012) The determinants of green intellectual capital. Manag Decis 50(1):74–94
Choo CW, Bontis N (2002) The strategic management of intellectual capital and organizational knowledge. Oxford University Press
Edvinsson L (2013) Ic 21: reflections from 21 years of ic practice and theory. J Intellect Cap 14(1):163–172
Felderer M, Piazolo F et al (2016) Innovations in enterprise information systems management and engineering: 4th international conference, erp future 2015-research, munich, germany, november 16-17, 2015, revised papers. Lecture Notes in Business Information Processing 245
Fjardon CM, Martos MaaS et al (2014) Intellectual capital and distinctive skills in smes of the timber industry in argentina. J Intellect Cap 54(6):634–646
Frey CB, Osborne MA (2013) The future of employment: how susceptible are jobs to computerisation? Technol Forecast Soc Change 114
Goodwin NR (2003) five kinds of capital: “ Useful concepts for sustainable development”. Gdae Working Papers pp 03-07
Hermann M, Pentek T, Otto B (2016) Design principles for industrie 4.0 scenarios pp 3928–3937
Hong RY, Wu XB (2009) Intellectual capital intellectual capital. Powder Part 28(28):3–19
Hungerland F, Quitzau J et al. (2015) The digital economy. Strategy 2030-Wealth and Life in the Next Generation
Katz LF, Margo RA (2013) Technical change and the relative demand for skilled labor: the united states in historical perspective. Nber Working Papers
Khalique M, Nassir Shaari JA, Isa AHBM (2015) Intellectual capital and its major components. Soc Sci Electr Publ 27(3):401–419
Male SA, Bush MB, Chapman ES (2010) Perceptions of competency deficiencies in engineering graduates. Australa J Eng Educ 16(1):55–68
Mann S (1999) Intellectual capital: the new wealth of organizations. Leadersh Organ Dev J (6)
Mosconi F (2015) The new european industrial policy: Global competitiveness and the manufacturing renaissance. J Intellect Cap 15(1):13–17
Roos J, Edvinsson L, Roos G (2013) Intellectual capital: navigating in the new business landscape. New York University Press
Subramaniam M, Youndt MA (2005) The influence of intellectual capital on the types of innovative capabilities. Acad Manag J 48(3):450–463
Sumedrea S (2013) Intellectual capital and firm performance: a dynamic relationship in crisis time. Proced Econ Financ 6(13):137–144
U\(\check{z}\)ien\(\dot{e}\) L, (2014) National intellectual capital as an indicator of the wealth of nations: the case of the baltic states. Proc Soc Behav Sci 156:376–381
Wall K (2010) Engineering: issues, challenges and opportunities for development
Zuehlke D (2010) Smartfactory-towards a factory-of-things. Ann Rev Control 34(1):129–138
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer International Publishing AG, part of Springer Nature
About this paper
Cite this paper
Cabrita, M.R., Cruz-Machado, V., Duarte, S. (2019). Enhancing the Benefits of Industry 4.0 from Intellectual Capital: A Theoretical Approach. In: Xu, J., Cooke, F., Gen, M., Ahmed, S. (eds) Proceedings of the Twelfth International Conference on Management Science and Engineering Management. ICMSEM 2018. Lecture Notes on Multidisciplinary Industrial Engineering. Springer, Cham. https://doi.org/10.1007/978-3-319-93351-1_124
Download citation
DOI: https://doi.org/10.1007/978-3-319-93351-1_124
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-93350-4
Online ISBN: 978-3-319-93351-1
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)