A3 Refereed book chapter or chapter in a compilation book
Managing Strategic Flexibility in Industry 5.0 Transition : An Integrated Real Options and Strategic Foresight Approach
Authors: Savolainen, Jyrki; Knudsen, Mikkel Stein
Editors: Aaltonen, Päivi; Kurvinen, Emil
Publication year: 2025
Book title : Contemporary Issues in Industry 5.0 : Towards an AI Integrated Society
Series title: Technology, Work and Globalization
First page : 109
Last page: 134
ISBN: 978-3-031-74781-6
eISBN: 978-3-031-74779-3
ISSN: 2730-6623
eISSN: 2730-6631
DOI: https://doi.org/10.1007/978-3-031-74779-3_5
Web address : https://doi.org/10.1007/978-3-031-74779-3_5
Self-archived copy’s web address: https://research.utu.fi/converis/portal/detail/Publication/477979056
This chapter deals with the corporate investment decision-making strategies amid the transformative landscape of Industry 5.0 and system-level Digital Twins Twinning. Through the lens of Strategic Foresight (SF) and Real Options (RO), the chapter both identifies a methodological gap in the literature regarding the integration of ROs and SF and underscores the potential synergy between these two fields. It is suggested that ROs can adeptly address numerical uncertainties in resource exploitation business cases, while SF serves as a valuable qualitative exploration tool under structural or radical uncertainty. A high-level, integrated decision framework is drafted, and its applicability is discussed within the Industry 5.0 context of system-level Digital Twins.
Downloadable publication This is an electronic reprint of the original article. |  |
