6 Industry 4.0 on the Way to Companies' Performance
Naveed R. Khan, Muhammad Rahies Khan, and Arsalan Mujahid Ghouri
6.1 Introduction
Traditionally, companies gain their competitive advantage through cost leadership, differentiation, and focus strategies (Michael, 1985). In the recent era, the principal driver of competition is technological change. Technological change not only alters the industrial structure but also creates and encourages new industries. Therefore, to handle the technological change and chase it as a competitive and value-added strategy, companies need deep knowledge, skills, capabilities, and understanding of new and emerging technologies. Despite the importance and need for these technologies, ...
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