Knowledge management strategies in companies: Trends and the impact of Industry 4.0

Abstract

The existing business models essential for the creation of consumer value and, consequently, business competitiveness are now undergoing a transformation. Brand-new technological developments based on network integration, intelligent technology and flexible automation are becoming increasingly relevant: additional competitive opportunities appear, and knowledge management and intellectual capital management are becoming key business processes. When developing a strategic vision, it is important for companies to pick the relevant data out of the information flow about the external and internal environment and convert it into organizational knowledge, which is a core management resource. The paper analyses the experience of Russian and foreign companies in the introduction of scalable models focused on the widespread use of Industry 4.0 and establishes the principles and strategies of knowledge management that allow these companies to maintain their competitive positions in a strategic perspective. The theory of knowledge management and resource approach constitute the methodological framework of the present study. The general scientific methods of logical-structural analysis and systematization, as well as the contingency case study method were applied. The information base encompasses the case studies of six companies, retrieved from publicly available sources. The findings of the empirical research prove the feasibility of applying a situational approach to knowledge management: companies use different strategies for accumulating and sharing knowledge according to their maturity level and the area of implementation of Industry 4.0. Based on the results obtained, the authors develop a situational approach to the strategic knowledge management of companies that successfully apply the technologies of the Fourth Industrial Revolution. The theoretical and practical significance of the study lies in identifying common approaches to knowledge management under various conditions, which can be used to create the strategic vision of managers involved in the key decision-making process in companies.