Managing complexity in the era of Industry 4.0
Complexity is one of the biggest barriers to success in organizations, whether in the business or nonbusiness sectors. Despite this fact there is very little research into the causes and consequences of this rapidly growing problem in the era of Industry 4.0. Similarly, there is very little practica...
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| Testületi szerző: | |
| Dokumentumtípus: | Könyv része |
| Megjelent: |
Faculty of Economics and Business Administration Doctoral School in Economics
Szeged
2020
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| Sorozat: | Proceedings of the Central European PhD Workshop on Technological Change and Development
4 |
| Kulcsszavak: | Technológiai fejlődés, Üzleti élet |
| Tárgyszavak: | |
| Online Access: | http://acta.bibl.u-szeged.hu/77651 |
| Tartalmi kivonat: | Complexity is one of the biggest barriers to success in organizations, whether in the business or nonbusiness sectors. Despite this fact there is very little research into the causes and consequences of this rapidly growing problem in the era of Industry 4.0. Similarly, there is very little practical information that provides actionable advice on how management in organizations can attack this problem. Internal complexity challenges like economic turbulence, understanding changes in customer needs, coping with economic crises, successfully launching innovative new products or services, dealing with regulatory changes, and finding and keeping talent are all major issues of management. In coordinating internal complexity with a complex competitive external environment, management of organizations needs to continually respond in order to succeed. We define complexity as the number of components in a system plus the variety of relationships among these components plus the pace of change in both the components and the relationships. Larger systems are often more complex – but they may just be more complicated if their behavior is unpredictable. Based on the database of the Global Entrepreneurship Index (GEI) we compared the EU-member countries (especially Hungary) and how prepared they are for management of growing complexity. Simplicity in business exists when we have exactly the right number of essential components and connections to achieve a successful result – no more, no less. That means everybody has to find an optimal level of complexity, which is called simplicity, or good complexity, so we can talk about good or bad complexity, and their respective levels are changing continuously. Investigating the countries, we have identified three clusters of displaying different management challenges: balanced, flexible, and vulnerable countries with regard to their capacity to face and manage growing complexity. Hungary is among the latter group. |
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| Terjedelem/Fizikai jellemzők: | 10-22 |
| ISBN: | 978-963-306-741-3 |