* Given the 4th Industrial Revolution and its Implications in the

implementation of MIS and design, give at least 5 strategies that most

companies must adopt to be able to manage the impact of 4 th IR among

industries

Industrial Revolution as a process of changing an agrarian and handicraft

economy into a more sophisticated and modernized one; which is dominated by

industry and machine manufacturing has never been as important as ever

before. This process have improved the quality of working and living among

people, also it allows businesses to further enhance and develop their

management to build a strong and competitive industry. Its evolution from the 1 st

Industrial Revolution up to the current Industrial Revolution has been critical and

tremendous as it is evident to numerous aspects of life. In particular, the 4 th

Industrial Revolution which is building on the third Industrial Revolution has been

occurring since the middle of the last century, it is characterized by a fusion of

technologies that is blurring the lines between the physical, digital, and biological

spheres.

In this light, the existence of the 4 th Industrial Revolution made an impact

on existing businesses all over the world. The key to adapt with the evolution and

to adopt the 4th Industrial Revolution is a key factor to improve and enhance the

operations of businesses. To do so, companies need to implement strategies that

will help their business to embrace and anticipate the impacts brought about by
the 4th Industrial Revolution. Moreover, there are various strategies that are

available in order for companies to adopt the process of 4 th Industrial Revolution.

First is the strategic alliance, this strategy is one of the most successful

coping mechanism in evading the impacts of the 4 th Industrial Revolution.

Strategic alliance is an arrangement between two companies to undertake a

mutually beneficial project while each retains its independence, the agreement is

less complex and less binding than a joint venture, in which two businesses pool

resources to create a separate business entity. For instance, Internet of Things

(IoT) which is the heart of the Fourth Industrial Revolution; enables a broad

swath of transformational opportunities, including open-standards-based

automation solutions, IT and operational technology (OT) convergence, and

vastly enhanced business intelligence. However, all of these advances are

dependent upon collaboration, no single organization can deliver the benefits of

(IoT) alone.

Next is to invest in education and training, the knowledge and skills of the

employees of a certain company is very vital in the process of its operations and

management concept. Understanding the what, why, and how of digital

technologies helps the employees use them more effectively, use their skills and

knowledge in novel ways, and keep them engaged as the company continue to

refine its business process management through automation and strategic

planning.

The third strategy is to adapt new rules and policies, given the impacts of

the 4th Industrial Revolution which is unprecedented for most of the businesses
requires a new set of regulations as well. Adapting to new technologies will

necessitate changes to this workflow. As the technological advance tend to grow

exponentially the more advanced they are, companies should revisit their

process systems every year to see what changes need to be made and what

actions need to be take. New rules and policies are instrumental in adopting the

new system of 4th Industrial Revolution.

Another strategy is the improvement of goods and materials quality.

Internet and technology has reduced the boundaries between countries.

Nowadays, consumers can buy goods and products from any other country in the

world, the efficiency and effectivity of the internet as a medium of transporting

goods or products has been essential. Thereof, companies need to improve their

products and the materials quality in association of the system brought about by

the 4th Industrial Revolution in order to compete in a high standardly manner.

The last strategy is to use of the Internet of Things (IoT), modernization

have changed the system of businesses in manufacturing, processing, and

allocation of goods, this also means that companies need to strive for a

modernize management and leadership in order to sustain the operation of its

business. Companies must incorporate a smarter technology team to pioneer the

integration with their production funnel. These changes are sure to maximize

output, find savings in operation cost, and push profit.

Generally, Adapting to the new system and trend is a must and it can only

be done through establishing a sound and effective strategy. With the numerous

strategies that are available and a great Management Information System,

companies will be able to manage the impact of the 4 th Industrial Revolution and

can make better decisions that will benefit their firm in the long run.

References

(1) Klaus Schwab, (2016)

(2) Will Kenton, (2021)

(3) https://www.britannica.com/event/Industrial-Revolution

(4) https://www.knic.co.id/5-strategies-that-companies-need-to-face-on-40-

industrial-revolution