Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis

Sustainability and digitalization are essential duties for companies to perform in the current socio-economic landscape due to risks caused by traditional manufacturing practices, and rules imposed by stakeholders and governments. Tools that help exploring uncertain future scenarios to address such...

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Autores principales:	Roberto Pasqualino, Melissa Demartini, Faezeh Bagheri
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	sustainability-oriented innovation digital transformation inequality inflation employment productivity Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/40152abaefb5428e8867d3ab8364151c
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spelling	oai:doaj.org-article:40152abaefb5428e8867d3ab8364151c2021-11-11T19:20:35ZDigital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis10.3390/su1321115642071-1050https://doaj.org/article/40152abaefb5428e8867d3ab8364151c2021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11564https://doaj.org/toc/2071-1050Sustainability and digitalization are essential duties for companies to perform in the current socio-economic landscape due to risks caused by traditional manufacturing practices, and rules imposed by stakeholders and governments. Tools that help exploring uncertain future scenarios to address such a complex challenge are of vital importance for both businesses, governments, and financial institutions. This paper presents the IN4.0-SD, a novel system dynamics model to capture the dynamic interplay of industrial innovation, inequality, and inflation. The IN4.0-SD is a closed-economy System Dynamics model composed of three agents: sustainable oriented innovation business (SOIB), digital asset supplier business (DASB), and household. DASB and SOIB are both assumed to supply one product to the economy and fundamentally differ among each other in their business models. While the sustainable oriented innovation business produces and sells capital goods making revenue out of sales, digital asset supplier detaches the concept of production from sales moving toward an intangible economy, charging for a fee licence of their tools that can be distributed via a network economy. Simulations show the level of flexibility of the model in addressing a variety of scenarios, playing at the threshold of technology development, inequality rise, massive unemployment and providing an archetype for sustainable oriented innovation and digital transformation models. The findings suggested by the model analysis are used to infer conclusions for the wider society, including implications for sustainable oriented businesses and digital transformation. These are confirmed by previous studies, around the overall trend in wealth creation for large technology firms’ owners, potential impact for employment in the digital economy, and transformation for the labour market.Roberto PasqualinoMelissa DemartiniFaezeh BagheriMDPI AGarticlesustainability-oriented innovationdigital transformationinequalityinflationemploymentproductivityEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11564, p 11564 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	sustainability-oriented innovation digital transformation inequality inflation employment productivity Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	sustainability-oriented innovation digital transformation inequality inflation employment productivity Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Roberto Pasqualino Melissa Demartini Faezeh Bagheri Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis
description	Sustainability and digitalization are essential duties for companies to perform in the current socio-economic landscape due to risks caused by traditional manufacturing practices, and rules imposed by stakeholders and governments. Tools that help exploring uncertain future scenarios to address such a complex challenge are of vital importance for both businesses, governments, and financial institutions. This paper presents the IN4.0-SD, a novel system dynamics model to capture the dynamic interplay of industrial innovation, inequality, and inflation. The IN4.0-SD is a closed-economy System Dynamics model composed of three agents: sustainable oriented innovation business (SOIB), digital asset supplier business (DASB), and household. DASB and SOIB are both assumed to supply one product to the economy and fundamentally differ among each other in their business models. While the sustainable oriented innovation business produces and sells capital goods making revenue out of sales, digital asset supplier detaches the concept of production from sales moving toward an intangible economy, charging for a fee licence of their tools that can be distributed via a network economy. Simulations show the level of flexibility of the model in addressing a variety of scenarios, playing at the threshold of technology development, inequality rise, massive unemployment and providing an archetype for sustainable oriented innovation and digital transformation models. The findings suggested by the model analysis are used to infer conclusions for the wider society, including implications for sustainable oriented businesses and digital transformation. These are confirmed by previous studies, around the overall trend in wealth creation for large technology firms’ owners, potential impact for employment in the digital economy, and transformation for the labour market.
format	article
author	Roberto Pasqualino Melissa Demartini Faezeh Bagheri
author_facet	Roberto Pasqualino Melissa Demartini Faezeh Bagheri
author_sort	Roberto Pasqualino
title	Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis
title_short	Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis
title_full	Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis
title_fullStr	Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis
title_full_unstemmed	Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis
title_sort	digital transformation and sustainable oriented innovation: a system transition model for socio-economic scenario analysis
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/40152abaefb5428e8867d3ab8364151c
work_keys_str_mv	AT robertopasqualino digitaltransformationandsustainableorientedinnovationasystemtransitionmodelforsocioeconomicscenarioanalysis AT melissademartini digitaltransformationandsustainableorientedinnovationasystemtransitionmodelforsocioeconomicscenarioanalysis AT faezehbagheri digitaltransformationandsustainableorientedinnovationasystemtransitionmodelforsocioeconomicscenarioanalysis
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Digital Transformation and Sustainable Oriented Innovation: A System Transition Model for Socio-Economic Scenario Analysis

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