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Purpose: To address the challenges regarding the concept of Industry 4.0 and the diversification\udmethodology and based on the strategic guidance towards Industry 4.0, we propose a process\udmodel as a guiding framework for Industry 4.0 collaborative diversification vision, strategy and\udaction building. In this paper we suggest a stage process model to guide and train companies to\udidentify new opportunities for diversification within Industry 4.0. Systematically carrying out the\udstages will take a company to their individual specific vision and collaborative vision between\uddifferent companies in the Industry 4.0 scenario.\udDesign/methodology/approach: This new collaborative diversification methodology involves\udindustry within the pilot program; from the diversification and capacity assessment analysis of the\udcompany`s profile, skills and technologies that dominates, to identify the diversification\udopportunity map and its business modeling within the Industry 4.0 paradigm.\udFindings: The application of maturity models to the Industry 4.0 may help organizations to\udintegrate this methodology into their culture. Results show a real need for guided support in\uddeveloping a company-specific Industry 4.0 vision and specific project planning.\udOriginality/value: Industry 4.0 promotes a vision where recent developments in information\udtechnology are expected to enable entirely new forms of cooperative engineering and\udmanufacturing. The vision of industry 4.0 describes a whole new approach to business\udoperations, and especially the production industries. To address the challenges regarding the concept of Industry 4.0 and the diversification methodology discussed above, and based on the\udstrategic guidance towards Industry 4.0 (Erol, Schumacher & Sihn, 2016), we propose a unique\udprocess model as a guiding framework for Industry 4.0 collaborative diversification vision,\udstrategy and action building.Peer Reviewe

Three stage maturity model in SME’s toward industry 4.0