Industry 4.0 and SMEs in the Northern Jutland Region

Arnim Decker

Research output: Contribution to book/anthology/report/conference proceedingBook chapterResearchpeer-review

Abstract

Being located in the Northern periphery, the economic structure of the
Northern part of the Jutland Peninsula in Denmark is characterized by a
relatively large proportion of firms operating in diverse industrial sectors.
A minor proportion of those are high growth companies with a signifi-
cant presence on international markets. Local firms operate in a diversity
of industrial sectors, which are characterized by medium to high tech-
nological intensity. According to the Danish government, Danish firms
cannot compete with foreign competitors based on low salaries alone
because they will be undercut by international competitors who enjoy
a lower cost base. In parallel, since the last financial crisis, Danish firms
have struggled with the issue of low productivity, which does not justify
the relatively high levels of salary. Because Northern Jutland, being part
of Denmark, falls into the category of a knowledge-based society with a
good educational infrastructure, Industry 4.0-related opportunities can
provide a significant boost to the local economy if tackled in the right
way and contribute to market development and international expansion.
However, a variety of factors, such as relative distance to important mar-
kets and potential industrial partners, can pose a challenge.

Original languageEnglish
Title of host publicationValue Creation in International Business : An SME Perspective
EditorsSvetla Marinova, Jorma Larimo, Nina Nummela
Number of pages26
VolumeVolume 2
PublisherPalgrave Macmillan
Publication date1 Jan 2017
Edition1
Pages309-335
Chapter13
ISBN (Print)978-3-319-39368-1
ISBN (Electronic)978-3-319-39369-8
Publication statusPublished - 1 Jan 2017

Keywords

  • Northern Jutland, SME, Industry 4.0, Internet of Things, Internationalization

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