Abstract
Apart from the opportunities and benefits of the Fourth Industrial Revolution (4IR), as a technological advancement affecting the business environment, the 4IR will introduce new dynamics that will require organisations to re-evaluate their business strategies to remain competitive or gain competitiveness. Therefore, it is necessary to find new ways to deal with the new dynamics that the technological advancements will present, such as dynamic capabilities which are as a firm's ability to integrate, build, and reconfigure internal and external competencies toward environmental changes. A quantitative approach was adopted for this study to assess the dynamic capabilities of South African construction firms in the era of the 4IR, while a questionnaire survey was used as an instrument to collect data. A total of 150 construction professionals in management positions participated and data received were analysed using standard deviation, mean item scores, analyses of variance, and exploratory factor analysis. The reliability of the question was tested using the Cronbach alpha test. In relation to the findings, it was revealed that cloud computing and the Internet of Things are the most frequently used 4IR features. Secondly, it was found that while seizing and transformation capabilities are considered to be very significant, considerable attention must also be given to the sensing capabilities of construction organisations, particularly with respect to digitally identifying the target market/customers’ needs and tapping into developments in digital technologies. Thirdly, it was also shown that the lack of training as well as additional costs for training employees in using the technologies are the main factors affecting the attainment of the necessary dynamic capabilities in the 4IR. Lastly, the findings of the study revealed the impact of the attainment of dynamic capabilities will predominantly result in more innovativeness within as well as the digitalisation of construction organisations. Based on the findings it can be concluded that the usage of 4IR features remains low, moreover the attainment of dynamic capabilities will positively impact construction organisations. Overall the findings of this research give practical guidelines for construction firms seeking better competitive advantage in this era of 4IR by showcasing the dynamic capabilities needed. Furthermore, the study contributes theoretically to the discourse of 4IR in the construction industry and can be an excellent backdrop for future researchers seeking to explore this area of research.
M.Tech. (Quantity Surveying)