Cambridge Scholars Publishing Entrepreneurship and Industry 4.0: Balancing Entrepreneurial Exploration and Exploitation

Industry 4.0 (i4.0) can unleash new business models or develop essential insights for a better decision-making process. It includes technologies like the Internet of Things (IoT), AI, cloud computing, machine learning, robotics, 5G, and Big Data Analytics (BDA). The imperative of i4.0 can enhance value creation and value capture at the same time with unmatched efficiency. This book explores how entrepreneurs can balance entrepreneurial exploration and exploitation in i4.0. The analytics world is moving beyond the descriptive to predictive, and in the future, it will be more prescriptive enabled by AI, machine learning, expert systems, and 5G. Thus, the future of entrepreneurial exploration and exploitation depends on how information is used to develop insights and to make intelligent, smart, and fact-based decisions to take actions that may have real-time correction mechanisms. As such, i4.0 has implications for students, managers, researchers, policymakers, and politicians alike. This book is a must-read for all. About the Author Dr Krishna Raj Bhandari is a Visiting Researcher at the University of Helsinki, Finland, having received his PhD from the University of Vaasa, Finland. His research interests are focused on the interface of the entrepreneurial and communicative constitution of organizations and start-ups, internalization theory, and competitive strategies, among others. His recent works bridge industry 4.0 and computation technologies such as AutoML and text-mining in social science, by applying such techniques to understand the balance of entrepreneurial exploration and exploitation, competitive strategies (pure vs. hybrid), and internationalization. His work has been published in various prestigious journals such as the Journal of Business Research. He has previously worked at start-ups and at Nokia headquarters as a strategist.