The Effect of External Environment Factors on Core Competence in the Fourth Industrial Revolution
Sun-Min Lee, Hakyun Kim · Asia-pacific Journal of Convergent Research Interchange · 2022
The 4th industrial revolution is a technology that hyper networks and AI will bring.The 4th industrial revolution was triggered by the development of various information technologies.The 4th industrial revolution means changes in major industries, economy, and society.Its meaning continues to expand and develop.These changes have already begun in all areas, including economics and society, robotics, finance, manufacturing, personal assistants and content.These realms are realized with platform technologies of the Internet of Things, artificial intelligence and mixed reality.It will provide new opportunities for upgrading existing industries, convergence between industries, and creating new industries.In order for companies to continue to develop in the 4th industrial revolution, the business environment must change appropriately to fulfill their roles.Due to the 4th industrial revolution, customer demands and various technological innovations are being made.Due to the rapid change of the business environment, companies must strategically use the business environment to adapt to the changing environment.The external environment surrounding a company affects its core competencies.The external environment of the company due to the 4th industrial revolution will affect the core competencies through the brand expansion strategy.For basic analysis of data, statistics were performed using SPSS 23.0, and hypotheses were tested using Smart PLS 3.0 statistics package.The external environment of the 4th industrial revolution is as follows to summarize the analysis results of brand expansion strategies and core competencies.First, industrial competitiveness influenced the brand expansion strategy.Second, environmental uncertainty affected the brand expansion strategy.Third, the technological structure influenced the brand expansion strategy.Fourth, the brand expansion strategy had an impact on core competencies.In conclusion, external environmental factors, brand expansion strategies, and core competencies were affected in the 4th industrial revolution.