Challenges of Business Management for the Digital Economy in the Countries of the Andean Community of Nations

Abstract

The fourth industrial revolution brings new technologies that have significantly impacted the way of working and production of all organizations worldwide which have adopted these changes. Thanks to this, significant advances have been achieved in optimizing their processes, which allows for better economic profitability and an essential impact on their value chain. In this work, we propose to develop a business management strategy that responds to the challenges of industry 4.0 in the digital economy in the countries of the Andean Community of Nations (CAN), to diagnose the current status of several companies in the manufacturing sector of the CAN countries regarding the use of the technologies implicit in industry 4.0, and thus, to generate strategies that highlight the importance of adopting the use of these in the development of their processes, ending with the management for digital commerce. The methodology applied is mixed: documentary and field. The companies surveyed have innovated and implemented technologies inherent to Industry 4.0 and consider the positive investment benefit. In addition, it was evidenced that most of them are aware of the barriers, limitations, and challenges when entering Industry 4.0 and the digital economy and the consequences of not doing so. This work shows the experiences of a group of manufacturing companies in the CAN countries regarding implementing Industry 4.0. Finally, the variables to be considered for the future challenges of manufacturing companies in automated processes and the digital economy are proposed.