Industry 4.0: Myths and Pitfalls

Technology has always had an impact on competition but its impact has been accelerating in recent years. In particular, the tremendous advances being made in the capabilities of technology to harness data in new ways is leading to the emergence of innovative business models that are disrupting many industries. For manufacturing firms to embrace these challenge, Europe has been pushing the concept of Industry 4.0 while China has been promoting the Made in China 2025 vison to upgrade its manufacturing base. Both emphasize the prevalence of the Internet of Things in manufacturing and the consequent technology-driven changes which will trigger significant changes in the markets.

Professor Plötner will discuss the strategic options open to B2B manufacturing companies in global markets, highlighting  the sometimes hidden cost traps of changing strategy. Drawing from his research, he will provide actionable guidance as to how to overcome these traps.

Professor Olaf Plötner is the dean of Executive Education at ESMT. Since 2010 this group is ranked among the top-30 institutions in executive education worldwide by Financial Times (No.12 in 2016). Olaf joined ESMT as one of the first faculty members and managing director of ESMT Customized Solutions GmbH in 2002.

Olaf’s current research and teaching focus on strategic management in global B2B markets. His work is reflected in his most recent book Counter Strategies in Global Markets, published by Palgrave Macmillan, Springer, and SDX Shanghai. His research has been portrayed in journals such as Industrial Marketing Management and Journal of Business and Industrial Marking as well as in leading international media such as CNN, Wall Street Journal Europe, Times of India, Frankfurter Allgemeine Zeitung, China Daily Europe, and Financial Times.

Olaf is a visiting professor at Darden School of Business, University of Virginia and at Antai College of Economics and Management, Jiao Tong University in Shanghai. Before joining ESMT, Olaf worked as a consultant for Boston Consulting Group (BCG) in Frankfurt and was a director at Siemens AG in Boston.

Professor Heini Shi will introduce Professor Olaf Plötner.