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http://dx.doi.org/10.18807/jsrs.2020.10.1.069

A Study on CSFs in the 4th Industrial Revolution  

Sung, Tae kyung (Kyonggi University, Accounting & MIS Division)
Publication Information
Journal of Service Research and Studies / v.10, no.1, 2020 , pp. 69-83 More about this Journal
Abstract
The purposes of this study is to identify the critical success factors for the 4th industrial revolution through literature review and to empirically evaluate the validity of these factors through questionnaires from executives engaging in the industries of the 4th industrial revolution. Literature review identifies leadership, change management, top management support, strategic fit, training, empowerment, teamwork, organizational culture, communication, and project management as ten critical success factors, Questionnaires were administered to CIOs and CEOs in the industries belong to the 4th industrial revolution. Response rate was 64.4% which shows quite high participation. Respondents rated strategic fit as the most important factor, followed by top management support, leadership, change management, project management, teamwork, communication, training, organizational culture, and empowerment. To successfully pursue the 4th industrial revolution, the followings are recommended. (1) detailed and refined execution strategy, (2) establishment of effective network among government, public companies, research institutes, universities, and industries, (3) strategic and long-term plan, (4) differentiated execution strategy from other countries and global cooperation system.
Keywords
The 4th Industrial Revolution; Success Factors; Industry 4.0; Information Technology; Innovation;
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