Sign in to use this feature.

Years

Between: -

Subjects

remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline

Journals

Article Types

Countries / Regions

Search Results (14)

Search Parameters:
Keywords = IoT and corporate responsibility

Order results
Result details
Results per page
Select all
Export citation of selected articles as:
53 pages, 1950 KiB  
Article
Redefining Energy Management for Carbon-Neutral Supply Chains in Energy-Intensive Industries: An EU Perspective
by Tadeusz Skoczkowski, Sławomir Bielecki, Marcin Wołowicz and Arkadiusz Węglarz
Energies 2025, 18(15), 3932; https://doi.org/10.3390/en18153932 - 23 Jul 2025
Viewed by 291
Abstract
Energy-intensive industries (EIIs) face mounting pressure to reduce greenhouse gas emissions while maintaining international competitiveness—a balance that is central to achieving the EU’s 2030 and 2050 climate objectives. In this context, energy management (EM) emerges as a strategic instrument to decouple industrial growth [...] Read more.
Energy-intensive industries (EIIs) face mounting pressure to reduce greenhouse gas emissions while maintaining international competitiveness—a balance that is central to achieving the EU’s 2030 and 2050 climate objectives. In this context, energy management (EM) emerges as a strategic instrument to decouple industrial growth from fossil energy consumption. This study proposes a redefinition of EM to support carbon-neutral supply chains within the European Union’s EIIs, addressing critical limitations of conventional EM frameworks under increasingly stringent carbon regulations. Using a modified systematic literature review based on PRISMA methodology, complemented by expert insights from EU Member States, this research identifies structural gaps in current EM practices and highlights opportunities for integrating sustainable innovations across the whole industrial value chain. The proposed EM concept is validated through an analysis of 24 EM definitions, over 170 scientific publications, and over 80 EU legal and strategic documents. The framework incorporates advanced digital technologies—including artificial intelligence (AI), the Internet of Things (IoT), and big data analytics—to enable real-time optimisation, predictive control, and greater system adaptability. Going beyond traditional energy efficiency, the redefined EM encompasses the entire energy lifecycle, including use, transformation, storage, and generation. It also incorporates social dimensions, such as corporate social responsibility (CSR) and stakeholder engagement, to cultivate a culture of environmental stewardship within EIIs. This holistic approach provides a strategic management tool for optimising energy use, reducing emissions, and strengthening resilience to regulatory, environmental, and market pressures, thereby promoting more sustainable, inclusive, and transparent supply chain operations. Full article
(This article belongs to the Section B: Energy and Environment)
Show Figures

Figure 1

26 pages, 2589 KiB  
Article
Sensor-Generated In Situ Data Management for Smart Grids: Dynamic Optimization Driven by Double Deep Q-Network with Prioritized Experience Replay
by Peiying Zhang, Siyi Li, Dandan Li, Qingyang Ding and Lei Shi
Appl. Sci. 2025, 15(11), 5980; https://doi.org/10.3390/app15115980 - 26 May 2025
Viewed by 396
Abstract
According to forecast data from the State Grid Corporation of China, the number of terminal devices connected to the power grid is expected to reach the scale of 2 billion within the next five years. With the continuous growth in the number and [...] Read more.
According to forecast data from the State Grid Corporation of China, the number of terminal devices connected to the power grid is expected to reach the scale of 2 billion within the next five years. With the continuous growth in the number and variety of terminal devices in the smart grid, traditional cloud-edge-end architecture will face the increasing issue of response latency. In this context, in situ computing, as a paradigm for local or near-source data processing within cloud-edge-end architecture, is gradually becoming a key technological pathway in industrial systems. The in situ server system, by deploying servers near terminals, enables the near-data-source processing of terminal-generated in situ data, representing an important implementation of in situ computing. To enhance the processing efficiency and response capability of in situ data in smart grid scenarios, this study designs an in situ data processing mechanism and an access demand management framework. Due to the heterogeneity of in situ server performance, there are variations in response capabilities for access demands across rounds. This study introduces a double deep Q-network with prioritized experience replay to assist in response decision-making. Simulation experiments show that the proposed method reduces waiting latency and response latency by an average of 67.69% and 68.77%, respectively, compared to traditional algorithms and other reinforcement learning algorithms, verifying its effectiveness in in situ data management. This scheme can also be widely applied to in situ computing scenarios with low-latency data management, such as smart cities and industrial IoT. Full article
Show Figures

Figure 1

19 pages, 596 KiB  
Article
Managerial Competence in Integrating Industry 4.0 with Corporate Social Responsibility for Enhanced Safety Culture in Manufacturing
by Alain Patience Ihimbazwe Ndanguza
Sustainability 2025, 17(10), 4678; https://doi.org/10.3390/su17104678 - 20 May 2025
Viewed by 925
Abstract
The integration of Industry 4.0 technologies with Corporate Social Responsibility (CSR) initiatives offers transformative potential for enhancing safety culture in manufacturing. This study investigates how managerial competence facilitates the alignment of tools like the Internet of Things (IoT), Artificial Intelligence (AI), and big [...] Read more.
The integration of Industry 4.0 technologies with Corporate Social Responsibility (CSR) initiatives offers transformative potential for enhancing safety culture in manufacturing. This study investigates how managerial competence facilitates the alignment of tools like the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics with CSR principles to foster sustainable safety practices. Employing a qualitative methods approach with secondary data from 2010 to 2024, including case studies of some of five leading firms (Siemens, General Electric, Toyota, Bosch, and Ford) and a systematic literature review, this analysis uses thematic and statistical techniques. The results show that strategic integration significantly reduces workplace hazards by 30–50%, boosts employee engagement, and enhances operational efficiency through real-time monitoring, predictive maintenance, and CSR alignment. Managerial competence, encompassing strategic vision, technical expertise, and stakeholder engagement, is critical for aligning these domains, delivering enhanced safety, sustainability, and competitive advantages. Full article
(This article belongs to the Special Issue Sustainable Safety Culture in Manufacturing Enterprises)
Show Figures

Figure 1

19 pages, 3229 KiB  
Article
Digital Transformation for Sustainable Transportation: Leveraging Industry 4.0 Technologies to Optimize Efficiency and Reduce Emissions
by Hajar Fatorachian, Hadi Kazemi and Kulwant Pawar
Future Transp. 2025, 5(2), 34; https://doi.org/10.3390/futuretransp5020034 - 31 Mar 2025
Cited by 1 | Viewed by 869
Abstract
This study investigates how Industry 4.0 technologies can optimize transportation efficiency and contribute to global sustainability goals by reducing CO2 emissions. In response to the pressing climate emergency, the research examines the role of the Internet of Things (IoT), Artificial Intelligence (AI), [...] Read more.
This study investigates how Industry 4.0 technologies can optimize transportation efficiency and contribute to global sustainability goals by reducing CO2 emissions. In response to the pressing climate emergency, the research examines the role of the Internet of Things (IoT), Artificial Intelligence (AI), and predictive analytics in enhancing operational performance and aligning transportation systems with Sustainable Development Goals (SDGs), particularly Goal 13 (climate action) and Goal 9 (industry, innovation, and infrastructure). Using a qualitative research approach, semi-structured interviews and focus groups were conducted with industry experts, and the data were analyzed using thematic analysis and qualitative network mapping in NVivo software. The findings reveal that IoT enhances real-time monitoring, AI enables dynamic route optimization, and predictive analytics supports proactive maintenance, collectively achieving an average emission reductions of 30%. However, adoption is hindered by infrastructure gaps, high implementation costs, skill shortages, and fragmented regulatory frameworks. This study integrates the Technology–Organization–Environment (TOE) framework and Sustainable Corporate Theory to provide a structured analysis of digital transformation in transportation. The findings offer strategic insights for policymakers and industry stakeholders, highlighting the need for stronger regulatory support, targeted incentives, and digital infrastructure investments. Full article
Show Figures

Figure 1

21 pages, 1695 KiB  
Article
Integration of AI and IoT into Corporate Social Responsibility Strategies for Financial Risk Management and Sustainable Development
by Anna Viktorovna Shkalenko and Anton V. Nazarenko
Risks 2024, 12(6), 87; https://doi.org/10.3390/risks12060087 - 23 May 2024
Cited by 9 | Viewed by 6165
Abstract
This research explores the integration of artificial intelligence (AI) and the Internet of Things (IoT) within corporate social responsibility (CSR) strategies, focusing on financial risk management and sustainable development. Employing a novel Coevolutionary multi-paradigm approach to technological development, this study examines how these [...] Read more.
This research explores the integration of artificial intelligence (AI) and the Internet of Things (IoT) within corporate social responsibility (CSR) strategies, focusing on financial risk management and sustainable development. Employing a novel Coevolutionary multi-paradigm approach to technological development, this study examines how these technologies can be embedded into CSR practices to enhance sustainability and manage risks effectively. The findings reveal that successful integration depends significantly on the adaptability of institutional structures to support technological innovations. This study contributes to the literature by providing a comprehensive analysis of the intersection of AI, IoT, and CSR, highlighting the necessity for robust mechanisms and policies that ensure security, standardization, and sustainable use of emerging technologies. Through this investigation, this research offers a new perspective on leveraging advanced technologies to advance corporate sustainability and risk management objectives. Full article
Show Figures

Figure 1

23 pages, 1286 KiB  
Article
Revolutionizing Retail: Examining the Influence of Blockchain-Enabled IoT Capabilities on Sustainable Firm Performance
by Hassan Nazir and Jianqiang Fan
Sustainability 2024, 16(9), 3534; https://doi.org/10.3390/su16093534 - 24 Apr 2024
Cited by 11 | Viewed by 3275
Abstract
Blockchain has revolutionized the field of supply chain management, allowing firms to optimize their operations and achieve enhanced levels of efficiency and environmental responsibility. This study investigates the relationships between the functionalities of the blockchain-enabled Internet of Things (IoT) and many aspects of [...] Read more.
Blockchain has revolutionized the field of supply chain management, allowing firms to optimize their operations and achieve enhanced levels of efficiency and environmental responsibility. This study investigates the relationships between the functionalities of the blockchain-enabled Internet of Things (IoT) and many aspects of the supply chain, namely, supplier integration, internal integration, customer integration, and sustainable logistic capabilities. It also analyses the impact of these correlations on the supply chain performance and sustainability of firms. This study is grounded in an empirical inquiry carried out using a questionnaire survey of the retail industry in Pakistan. Partial Least Squares Structural Equation Modelling (PLS-SEM) was employed to analyze the data. The findings indicate a direct correlation between the use of BC-enabled Internet of Things (IoT) capabilities and the integration of the supply chain, as well as logistic capabilities. Furthermore, there is a strong and meaningful correlation between blockchain-enabled supply chain integration and sustainable logistic capabilities and firm performance. The research findings indicate that the combined impact of digital innovations results in higher levels of corporate performance and sustainability. By embracing digitization through blockchain technology, business organizations can attain supply chain excellence. This integration enhances the adoption of environmentally beneficial actions, minimizes waste, and decreases carbon emissions across supply chains, thus reinforcing the connection between sustainable firm performance and environmental sustainability. As a result, the enterprises may execute sustainably through improved logistical capabilities and effective integration. The results hold great theoretical and practical significance for improving supply chain management efficacy and accomplishing multiple SDGs, including SDG-8, SDG-9, SDG-11, and SDG-12. Full article
(This article belongs to the Special Issue Sustainable Strategy and Modelling for Supply Chain Management)
Show Figures

Figure 1

17 pages, 391 KiB  
Article
QISS: Quantum-Enhanced Sustainable Security Incident Handling in the IoT
by Carlos Blanco, Antonio Santos-Olmo and Luis Enrique Sánchez
Information 2024, 15(4), 181; https://doi.org/10.3390/info15040181 - 27 Mar 2024
Cited by 4 | Viewed by 2232
Abstract
As the Internet of Things (IoT) becomes more integral across diverse sectors, including healthcare, energy provision and industrial automation, the exposure to cyber vulnerabilities and potential attacks increases accordingly. Facing these challenges, the essential function of an Information Security Management System (ISMS) in [...] Read more.
As the Internet of Things (IoT) becomes more integral across diverse sectors, including healthcare, energy provision and industrial automation, the exposure to cyber vulnerabilities and potential attacks increases accordingly. Facing these challenges, the essential function of an Information Security Management System (ISMS) in safeguarding vital information assets comes to the fore. Within this framework, risk management is key, tasked with the responsibility of adequately restoring the system in the event of a cybersecurity incident and evaluating potential response options. To achieve this, the ISMS must evaluate what is the best response. The time to implement a course of action must be considered, as the period required to restore the ISMS is a crucial factor. However, in an environmentally conscious world, the sustainability dimension should also be considered to choose more sustainable responses. This paper marks a notable advancement in the fields of risk management and incident response, integrating security measures with the wider goals of sustainability and corporate responsibility. It introduces a strategy for handling cybersecurity incidents that considers both the response time and sustainability. This approach provides the flexibility to prioritize either the response time, sustainability or a balanced mix of both, according to specific preferences, and subsequently identifies the most suitable actions to re-secure the system. Employing a quantum methodology, it guarantees reliable and consistent response times, independent of the incident volume. The practical application of this novel method through our framework, MARISMA, is demonstrated in real-world scenarios, underscoring its efficacy and significance in the contemporary landscape of risk management. Full article
(This article belongs to the Special Issue Quantum Information Processing and Machine Learning)
Show Figures

Figure 1

16 pages, 700 KiB  
Article
A Construction and Empirical Study of Quality Management Evaluation Index System in the Internet of Things Industry
by Meng Shang, Chulwoo Lee, Junwei Cao and Yu Liu
Systems 2022, 10(6), 231; https://doi.org/10.3390/systems10060231 - 22 Nov 2022
Cited by 1 | Viewed by 2931
Abstract
A revised version of the ISO9001:2015 quality management system is an indispensable element for a corporation to survive against the severe competition and maintain sustainable, competitive superiority, as well as a new outlook. With this in mind, the first purpose of this research [...] Read more.
A revised version of the ISO9001:2015 quality management system is an indispensable element for a corporation to survive against the severe competition and maintain sustainable, competitive superiority, as well as a new outlook. With this in mind, the first purpose of this research was to seek customer satisfaction through the continuous improvement of the organization in the IoT industry. Furthermore, it aimed to lay a foundation for a preemptive response and formulate a management strategy regarding the continuity of the business. Simultaneously, we explored whether the scale items of the lower-ranking level resulting from the latent variables in the main provision of the revised edition are the variables that can sufficiently explain the latent variables. Furthermore, the statistical programs of the SPSS22.0 and the AMOS18.0 were utilized for analysis. The results demonstrated that corporations can achieve customer satisfaction through continuous improvements concerning the successful introduction and conversion of the new quality management system. It was confirmed that the core variables of the revised edition sufficiently explained the latent variables. Consequently, it is imperative to understand the latent risks from the internal and external environments surrounding the organization and formulate the short-term and long-term strategies of the organization on the part of a corporation. Full article
Show Figures

Figure 1

23 pages, 4356 KiB  
Article
Scalable IoT Architecture for Monitoring IEQ Conditions in Public and Private Buildings
by Isidro Calvo, Aitana Espin, Jose Miguel Gil-García, Pablo Fernández Bustamante, Oscar Barambones and Estibaliz Apiñaniz
Energies 2022, 15(6), 2270; https://doi.org/10.3390/en15062270 - 21 Mar 2022
Cited by 23 | Viewed by 5232
Abstract
This paper presents a scalable IoT architecture based on the edge–fog–cloud paradigm for monitoring the Indoor Environmental Quality (IEQ) parameters in public buildings. Nowadays, IEQ monitoring systems are becoming important for several reasons: (1) to ensure that temperature and humidity conditions are adequate, [...] Read more.
This paper presents a scalable IoT architecture based on the edge–fog–cloud paradigm for monitoring the Indoor Environmental Quality (IEQ) parameters in public buildings. Nowadays, IEQ monitoring systems are becoming important for several reasons: (1) to ensure that temperature and humidity conditions are adequate, improving the comfort and productivity of the occupants; (2) to introduce actions to reduce energy consumption, contributing to achieving the Sustainable Development Goals (SDG); and (3) to guarantee the quality of the air—a key concern due to the COVID-19 worldwide pandemic. Two kinds of nodes compose the proposed architecture; these are the so-called: (1) smart IEQ sensor nodes, responsible for acquiring indoor environmental measures locally, and (2) the IEQ concentrators, responsible for collecting the data from smart sensor nodes distributed along the facilities. The IEQ concentrators are also responsible for configuring the acquisition system locally, logging the acquired local data, analyzing the information, and connecting to cloud applications. The presented architecture has been designed using low-cost open-source hardware and software—specifically, single board computers and microcontrollers such as Raspberry Pis and Arduino boards. WiFi and TCP/IP communication technologies were selected, since they are typically available in corporative buildings, benefiting from already available communication infrastructures. The application layer was implemented with MQTT. A prototype was built and deployed at the Faculty of Engineering of Vitoria-Gasteiz, University of the Basque Country (UPV/EHU), using the existing network infrastructure. This prototype allowed for collecting data within different academic scenarios. Finally, a smart sensor node was designed including low-cost sensors to measure temperature, humidity, eCO2, and VOC. Full article
(This article belongs to the Collection Featured Papers in Electrical Power and Energy System)
Show Figures

Figure 1

25 pages, 3095 KiB  
Review
Agriculture-Food Supply Chain Management Based on Blockchain and IoT: A Narrative on Enterprise Blockchain Interoperability
by Showkat Ahmad Bhat, Nen-Fu Huang, Ishfaq Bashir Sofi and Muhammad Sultan
Agriculture 2022, 12(1), 40; https://doi.org/10.3390/agriculture12010040 - 30 Dec 2021
Cited by 224 | Viewed by 32274
Abstract
Modern-day agriculture supply chains have evolved from sovereign and autonomous local stakeholders to a worldwide interconnected system of multiple participants linked by complicated interactions, impacting the production, processing, transportation, and delivery of food to end consumers. Regular instances of fraudulent acts reveal a [...] Read more.
Modern-day agriculture supply chains have evolved from sovereign and autonomous local stakeholders to a worldwide interconnected system of multiple participants linked by complicated interactions, impacting the production, processing, transportation, and delivery of food to end consumers. Regular instances of fraudulent acts reveal a lack of openness in agriculture supply chains, raising worries about financial losses, eroding customer trust, and lowering corporate brand value. To develop an efficient and reliable trading environment, several fundamental modifications in the present supply chain architecture are required. There is broad consensus that blockchain can improve transparency in agriculture-food supply chains (agri-food SCs). Consumers now demand safe, sustainable, and equitable food production processes, and businesses are using blockchains and the internet of things to meet these needs. For enhanced responsiveness in agri-food SCs, new concepts have evolved that combine blockchains with various Industry 5.0 technologies (e.g., blockchain technology, big data, internet of things (IoT), radio frequency identification (RFID), near field communication (NFC), etc.). It is critical to cut through the hype and examine the technology’s limits, which might stymie its acceptance, implementation, and scalability in agri-food supply chains. This study presents Agri-SCM-BIoT (Agriculture Supply Chain Management using Blockchain and Internet of things) architecture to address the storage and scalability optimization, interoperability, security and privacy issues security, and privacy of personal data along with storage concerns with present single-chain agriculture supply chain systems. We also discussed the classification of security threats with IoT infrastructure and possible available blockchain-based defense mechanisms. Finally, we discussed the features of the proposed supply chain architecture, followed by a conclusion and future work. Full article
Show Figures

Graphical abstract

13 pages, 1617 KiB  
Review
Blockchain Technology in Life Cycle Assessment—New Research Trends
by Robert Karaszewski, Paweł Modrzyński, Gözde Türkmen Müldür and Jacek Wójcik
Energies 2021, 14(24), 8292; https://doi.org/10.3390/en14248292 - 9 Dec 2021
Cited by 16 | Viewed by 4744
Abstract
Environmental protection is currently one of the key priority areas of the European Union (EU). The search for precise tools to assess the impact of the economy, industry, or the production of individual products or services is crucial for an effective and efficient [...] Read more.
Environmental protection is currently one of the key priority areas of the European Union (EU). The search for precise tools to assess the impact of the economy, industry, or the production of individual products or services is crucial for an effective and efficient policy in environmental protection. Blockchain technology, originally related to the financial sector and cryptocurrencies, is an innovative solution that is increasingly being implemented by other areas of the economy and industry sectors. The authors reviewed the literature and based on it presented the possibilities and effects of using blockchain technology in Life Cycle Assessment (LCA), which is in line with the current development trends of this method. The analysis of the research conducted in this area also allowed to present not only the advantages of blockchain in LCA, but also the limitations of this technology and the potential directions of further research. Full article
(This article belongs to the Special Issue Strategic Planning and Management in Energy)
Show Figures

Figure 1

10 pages, 708 KiB  
Article
Attribute Service Performance Index Based on Poisson Process
by Kuen-Suan Chen, Chang-Hsien Hsu and Ting-Hsin Hsu
Mathematics 2021, 9(23), 3144; https://doi.org/10.3390/math9233144 - 6 Dec 2021
Cited by 3 | Viewed by 2806
Abstract
The purpose of a shop enhancing customer satisfaction is to raise its total revenue as the rate of customer purchases in the shop increases. Some studies have pointed out that the amount of customer arrival at a shop is a Poisson process. A [...] Read more.
The purpose of a shop enhancing customer satisfaction is to raise its total revenue as the rate of customer purchases in the shop increases. Some studies have pointed out that the amount of customer arrival at a shop is a Poisson process. A simple and easy-to-use evaluation index proposed for the Poisson process with the attribute characteristic will help various shops evaluate their business performance. In addition, developing an excellent and practical service performance evaluation method will be beneficial to the advancement of shop service quality as well as corporate image, thereby increasing the profitability and competitiveness of the shop. As the surroundings of the internet of things (IoT) are becoming gradually common and mature, various commercial data measurement and collection technologies are constantly being refined to form a huge amount of production data. Efficient data analysis and application can assist enterprises in making wise and efficient decisions within a short time. Thus, following the simple and easy-to-use principle, this paper proposes an attribute service performance index based on a Poisson process. Since the index had unknown parameters, this paper subsequently figured out the best estimator and used the central limit theorem to derive the confidence interval of the service efficiency index based on random samples. Then, we constructed the membership function based on the α-cuts of the triangular shaped fuzzy number. Finally, we came up with a fuzzy testing model based on the membership function to improve the accuracy of the test when the sample size is small in order to meet enterprises’ needs for quick responses as well as reducing the evaluation cost. Full article
(This article belongs to the Special Issue Fuzzy Applications in Industrial Engineering)
Show Figures

Figure 1

19 pages, 1893 KiB  
Article
Using Internet of Things and Distributed Ledger Technology for Digital Circular Economy Enablement: The Case of Electronic Equipment
by Chiara Magrini, Jana Nicolas, Holger Berg, Alberto Bellini, Enrico Paolini, Nazarena Vincenti, Luca Campadello and Alessandra Bonoli
Sustainability 2021, 13(9), 4982; https://doi.org/10.3390/su13094982 - 29 Apr 2021
Cited by 68 | Viewed by 6751
Abstract
Nowadays, high expectations are set for a digitally enabled circular economy (CE), to enhance resource efficiency. Tracing, tracking, and storing information is most important for this. In this paper, the application of Internet of Things (IoT) and Distributed Ledger Technology (Blockchain) are hence [...] Read more.
Nowadays, high expectations are set for a digitally enabled circular economy (CE), to enhance resource efficiency. Tracing, tracking, and storing information is most important for this. In this paper, the application of Internet of Things (IoT) and Distributed Ledger Technology (Blockchain) are hence discussed by presenting the case of professional Electrical and Electronic Equipment (EEE) in Italy. Within the context of CE, prevention of electronic waste (WEEE) is extremely relevant as it is a fast-growing waste stream, and the products contain environmentally damaging substances as well as valuable and rare materials. The use of a proper combination of IoT and blockchain can help the producers to keep control on products until EEE end-of-life, while promoting CE strategies and supporting decision-making. Based on the outcomes of five interviews conducted in 2019 to companies of the EEE sector, potential improvements in the EEE end-of-use management are discussed. After providing the definition of requirements for both the technical solution and its testing are provided, three solution variations and the related business models are created and presented, as well as considerations on their environmental and economic impacts. The study shows how digital technologies can support the appropriate and circular management of EEE products and WEEE. Full article
(This article belongs to the Special Issue Circular Economy in the Digital Age)
Show Figures

Figure 1

16 pages, 296 KiB  
Article
The Role of the CFO of an Industrial Company: An Analysis of the Impact of Blockchain Technology
by Philipp Sandner, Anna Lange and Philipp Schulden
Future Internet 2020, 12(8), 128; https://doi.org/10.3390/fi12080128 - 30 Jul 2020
Cited by 31 | Viewed by 7631
Abstract
This qualitative multiple case study explores the influence of blockchain technology on the chief financial officer (CFO) of an industrial company. Due to the advancing digitalization of business sectors and increasing competitive pressures, industrial companies are forced to promote their own digital transformation [...] Read more.
This qualitative multiple case study explores the influence of blockchain technology on the chief financial officer (CFO) of an industrial company. Due to the advancing digitalization of business sectors and increasing competitive pressures, industrial companies are forced to promote their own digital transformation to sustain on the market. Here, the literature regards the CFO as a key corporate function to induce digitization initiatives within organizations. The blockchain technology, due to its features of transparency, immutability and cryptography combined with its ability to coordinate data flows of e.g., the Internet of Things (IoT) or Artificial Intelligence (AI), constitutes a suitable instrument for the CFO to meet the requirements of Industry 4.0. This paper provides a contribution to address existing research gaps regarding the application side of blockchain technology. Thus, the objective of this work is to provide corporate financial functions, such as the CFO of an industrial company, with an understanding of the extent to which blockchain technology can be used for the role-specific responsibilities. Therefore, the underlying qualitative study explores the influence of blockchain technology on the CFO-function of an industrial company. Thus, intending to address a research gap on the application side, it asks (1) What is the impact of blockchain technology on the financial as well strategic role of the CFO? (2) What is the impact of blockchain technology in convergence with the Machine Economy on the key performance indicators (KPIs) of the CFO? (3) What is the impact of blockchain-enabled integrated business ecosystems on the role of the CFO? Based on a review of literature, semi-structured expert interviews were conducted with 23 participants. Analysis of the responses demonstrated a considerable impact of blockchain technology on the CFO-function. The results indicate improvements of business processes in regard to efficiency and automation, a relocation of the CFO’s strategic role, improvements of CFO-relevant KPIs through integrating machines into payment networks as well as the emergence of integrated business ecosystems facilitating new forms of inter-organizational collaboration. Necessary prerequisites for adoption include digital competences of the CFO, appropriate organizational structures, digital currencies and identities on the blockchain, a change of the competitive mindset as well as standardized platforms with a neutral governance. Full article
Back to TopTop