Emerging Industrial Revolution: Symbiosis of Industry 4.0 and Circular Economy: The Role of Universities

2020 ◽  
Vol 25 (3) ◽  
pp. 505-525 ◽  
Author(s):  
Seeram Ramakrishna ◽  
Alfred Ngowi ◽  
Henk De Jager ◽  
Bankole O. Awuzie
Keyword(s):  
Economic Growth ◽  
Circular Economy ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Production Systems ◽  
Fourth Industrial Revolution ◽  
New Jobs

Growing consumerism and population worldwide raises concerns about society’s sustainability aspirations. This has led to calls for concerted efforts to shift from the linear economy to a circular economy (CE), which are gaining momentum globally. CE approaches lead to a zero-waste scenario of economic growth and sustainable development. These approaches are based on semi-scientific and empirical concepts with technologies enabling 3Rs (reduce, reuse, recycle) and 6Rs (reuse, recycle, redesign, remanufacture, reduce, recover). Studies estimate that the transition to a CE would save the world in excess of a trillion dollars annually while creating new jobs, business opportunities and economic growth. The emerging industrial revolution will enhance the symbiotic pursuit of new technologies and CE to transform extant production systems and business models for sustainability. This article examines the trends, availability and readiness of fourth industrial revolution (4IR or industry 4.0) technologies (for example, Internet of Things [IoT], artificial intelligence [AI] and nanotechnology) to support and promote CE transitions within the higher education institutional context. Furthermore, it elucidates the role of universities as living laboratories for experimenting the utility of industry 4.0 technologies in driving the shift towards CE futures. The article concludes that universities should play a pivotal role in engendering CE transitions.

scholarly journals Industry 4.0 as the Driving Force of SME Internationalisation: A Case of Lithuania

2019 ◽  
Vol 33 (1) ◽  
pp. 192-206 ◽  
Author(s):  
Kristina Kovaitė ◽  
Paulius Šūmakaris ◽  
Jelena Stankevičienė ◽  
Renata Korsakienė
Keyword(s):  
Economic Growth ◽  
Driving Force ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Scientific Literature ◽  
Geographical Location ◽  
International Markets ◽  
Value Chains ◽  
Fourth Industrial Revolution

Abstract Small and medium-sized enterprises (SMEs) are assumed to be one of the key contributors to the country’s economic growth and social welfare. Thus, their internationalisation appears to be inevitable considering how globalisation processes have changed the rules of competition in recent decades. Smart and digitalised technologies (Internet of Things and Services, etc.) decentralise communication and provide the opportunities for new firms to overcome the barriers of geographical location and access international markets through co-creation business models and changes of the value chains. The paper aims at analysing and disclosing how the fourth industrial revolution (Industry 4.0) influences SME internationalisation. The present study is grounded on the research of extant scientific literature and assessment of experts. The research demonstrates that Industry 4.0 positively influences the internationalisation of SMEs on a number of dimensions. The recommendations for managers and policymakers how to foster internationalisation of SMEs are suggested.

scholarly journals Internal factors supporting business and technological transformation in the context of Industry 4.0

2019 ◽  
Vol 20 ◽  
pp. 137-145 ◽  
Author(s):  
Lucia Kohnová ◽  
Ján Papula ◽  
Nikola Salajová
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
New Technologies ◽  
Employee Education ◽  
Technological Transformation ◽  
Internal Factors ◽  
Fourth Industrial Revolution ◽  
Culture Strategy ◽  
Technology Transformation ◽  
And Training

Radical changes resulting from the Fourth Industrial Revolution strongly affect industrialized European countries. In particular, due to the new technologies that are characteristic of Industry 4.0, it will be essential for companies to make the necessary changes and achieve competitiveness through the implementation of these technologies. In order for companies to be able to make radical changes and innovations, they need to secure all the supporting areas in their organization. This research paper is focused on comparison of companies from Slovakia, Czech Republic, Austria, Germany and Switzerland in the context of readiness for Industry 4.0. This research was part of a research project, while data were collected in the period of 2015–2016. We have analysed companies from selected countries based on 7 areas which are closely interconnected with the business transformation and technology transformation coming from Industry 4.0. The main analysed questions focused on areas such as employee education and training, organizational culture, strategy, or organizational processes, that will be most affected by radical changes in the environment. Research has highlighted the differences between countries as a result of long-standing cultural differences, but at the same time identified the unified influence of the ongoing global debate on the need for technological innovation. With Slovak and Czech companies being below stronger innovators in the maturity of education systems, we strongly advise considering partnering in education which can bring valuable information to businesses that want to take on the wave of innovation.

Industry 4.0 and Its Effects on the Insurance Sector

2020 ◽  
pp. 251-266
Author(s):  
İsmail Yıldırım
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
New Technologies ◽  
Production Systems ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Daily Lives ◽  
Insurance Sector ◽  
Organization And Management ◽  
Production Order

Industry 4.0 defines the fourth industrial revolution, a new level in the organization and management of products and production systems. This cycle consists of services that include the entire chain, including individualized customer requests, product development, production order, distribution, and recycling to the end user. One of the most important preconditions for the realization of the Industry 4.0 revolution is that companies have completed their digital transformations. New technologies and digitalization have brought a new understanding of insurance. Insurance companies are focused on four areas such as big data, artificial intelligence, internet of objects, and blockchain in the changing world. With the changing habits of consumers in their daily lives, new generation insurance needs emerged. The introduction of a new era shaped by the insurance industry with new products, services, competitors, and customer expectations will have various effects. This chapter describes how Industry 4.0 transforms the insurance sector.

Accessible@tourism 4.0

2021 ◽  
pp. 1444-1463
Author(s):  
Pedro Teixeira ◽  
Leonor Teixeira ◽  
Celeste Eusébio
Keyword(s):  
Industry 4.0 ◽  
Essential Role ◽  
Industrial Revolution ◽  
Tourism Industry ◽  
Fourth Industrial Revolution ◽  
Tourism Sector ◽  
Challenges And Opportunities ◽  
The Government ◽  
Set Up

This chapter describes how Tourism 4.0 is a concept that combines tourism and the fourth industrial revolution, and although the literature in this field is very scarce, this concept has been explored in some research projects, such as the government-sponsored research project in Slovenian tourism. People with various kinds of access requirements represent a combination of challenges and opportunities for the tourism industry. Tourism 4.0 set up the main goals of making tourism accessible to everyone at any time. Therefore, this new phenomenon may have an essential role in the development of accessible tourism. The adoption of technological components in accessible tourism enables the development of a new technological solution that can facilitate access to tourism products for disabled people, contributing to the development of accessible tourism. The new term Accessible@Tourism 4.0 is the answer to the role of the fourth industrial revolution in accessible tourism, emphasizing the effect of Industry 4.0 components in the tourism sector.

scholarly journals Impact Assessment of Additive Manufacturing on Sustainable Business Models in Industry 4.0 Context

2020 ◽  
Vol 12 (17) ◽  
pp. 7066 ◽  
Author(s):  
Radu Godina ◽  
Inês Ribeiro ◽  
Florinda Matos ◽  
Bruna T. Ferreira ◽  
Helena Carvalho ◽  
...  
Keyword(s):  
Additive Manufacturing ◽  
Industry 4.0 ◽  
Manufacturing Systems ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Three Dimensions ◽  
Sustainable Business ◽  
Core Element ◽  
Sustainable Business Models

Additive manufacturing has the potential to make a longstanding impact on the manufacturing world and is a core element of the Fourth Industrial Revolution. Additive manufacturing signifies a new disruptive path on how we will produce parts and products. Several studies suggest this technology could foster sustainability into manufacturing systems based on its potential of optimizing material consumption, creating new shapes, customizing designs and shortening production times that, all combined, will greatly transform some of the existing business models. Although it requires reaching a certain level of design maturity to completely insert this technology in an industrial setting, additive manufacturing has the potential to favorably impact the manufacturing sector by reducing costs in production, logistics, inventories, and in the development and industrialization of a new product. The transformation of the industry and the acceleration of the adopting rate of new technologies is driving organizational strategy. Thus, through the lenses of Industry 4.0 and its technological concepts, this paper aims to contribute to the knowledge about the impacts of additive manufacturing technology on sustainable business models. This aim is accomplished through a proposed framework, as well as the models and scales that can be used to determine these impacts. The effects are assessed by taking into account the social, environmental and economic impacts of additive manufacturing on business models and for all these three dimensions a balanced scorecard structure is proposed.

scholarly journals Features of Digitalization in the Construction Industry as an Important Factor of Its Sustainable Development

2021 ◽  
Vol 7 (12) ◽  
pp. 169-174
Author(s):  
K. Voskovykh
Keyword(s):  
Sustainable Development ◽  
Construction Industry ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Cost Savings ◽  
Resource Scarcity ◽  
Current Level ◽  
Construction Site ◽  
Fourth Industrial Revolution

This article determines that in the context of global digitalization, the competitiveness and sustainable development of companies depend on the speed of mastering new technologies. Assessment of the current level of the construction industry indicates its lag behind other industries. The aim of the study is to analyze the current level of digitalization of construction companies and summarize the constraining factors. The importance of continuous digitization of production and logistics, networking of autonomous smart objects or the use of self-learning systems in order to increase flexibility and optimize processes is emphasized. The main benefit of implementing digital business models is reducing the time it takes to make decisions, implement a project, and bring products to market. The factors holding back digital processes at the construction site are highlighted: a high proportion of manual production, over-regulation, dependence on the public sector and cyclical changes, the scale of the company. New technologies resulting from the fourth industrial revolution promise more efficient processes, greater time and cost savings, greater productivity and quality. The construction industry must catch up with other industries, because it also has to face the challenges of globalization, urbanization, climate change, resource scarcity, demographic change and other events that disrupt its sustainable development. Construction Site 4.0 promises improvements, but the fourth industrial revolution on the construction site is just beginning.

scholarly journals Transformation of the world job market in the conditions of the Fourth Industrial Revolution

2021 ◽  
pp. 8-28
Author(s):  
Elena Viktorovna Shirinkina
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Job Market ◽  
Scientific Publications ◽  
Job Management ◽  
Business News ◽  
Fourth Industrial Revolution ◽  
The World ◽  
The Impact

The relevance of this research is substantiated by the fact that the world job market is currently under the influence of the Fourth Industrial Revolution (Industry 4.0). The goal lies in assessing the impact of cyclic and unexpected trends upon the job market, and thus, the forms of job management and employment functions. In this regard, analysis is conducted on the academic theories in the context of conceptualization of the impact of Industry 4.0 upon the job market and employment functions. The long-term trends in transformation of the job market are determined. The empirical basis of this research is comprised of the statistical data provided by Rosstat and the Ministry of Science and Higher Education of the Russian Federation, as well as the resources of analytical articles and scientific publications, including the materials of international organizations, leading consulting companies, global associations, leading educational institutions, other active participants of global educational environment, and job market experts. An overview is given to the trends that affect the companies, their strategies and business models; the impact of such trends upon the transformation of current professions and the emergence of new professions; skills required for these professions. The scientific novelty lies in substantiation of the concept of skill-biased technical change (SBTC) and the theory of routine-biased technological change (RBTC). The presented materials would allow the companies to combine business news with fundamental training of specialists for going along the new career trajectiory in light of the new technological challenges, which defines the practical value of this research.

scholarly journals Implications of the Fourth Industrial Revolution on sustainable development

2020 ◽  
Vol 4 (2) ◽  
pp. 45-60 ◽  
Author(s):  
Andrija Popović
Keyword(s):  
Sustainable Development ◽  
Industry 4.0 ◽  
Sustainable Development Goals ◽  
Industrial Revolution ◽  
New Technologies ◽  
Comprehensive Overview ◽  
The Sustainable Development ◽  
Agenda 2030 ◽  
Fourth Industrial Revolution ◽  
Development Goals

We are at the cusp of the Fourth Industrial Revolution, and its implications on the society are far-reaching. The purpose of this paper is to give a comprehensive overview of the implications that Industry 4.0 has on the Sustainable Development Goals from the UN Agenda 2030, based on the review and the analysis of the available literature. The paper is structured to give an insight into the basic concepts of Industry 4.0 and Sustainable Development, then moves through the implications of new technologies on the Sustainable Development Goals, and finally, points out the areas that need to be addressed by policymakers. This paper just tapped into the potentials and issues that the Fourth Industrial Revolution brings while leaving the room for in-depth research of any of the analyzed areas.

scholarly journals The fourth industrial revolution: personnel, business and state

2020 ◽  
Vol 159 ◽  
pp. 04012
Author(s):  
Eugene Genkin ◽  
Sergey Filin ◽  
Vladimir Velikorossov ◽  
Zhamilya Kydyrova ◽  
Kirill Anufriyev
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Highly Qualified ◽  
Qualified Personnel ◽  
Strategic Role ◽  
The Individual ◽  
Effective Use ◽  
Digital Capital

The solved tasks are to develop recommendations for combining industry 4.0 technologies with the reduction of less qualified personnel due to their use while maximizing (keeping) of the efficiency of the organization’s activities. The novelty is the justification for the need to use strategic methodological approaches for design and development of new value proposals and business models in the organization for the strategically effective use of Industry 4.0 technologies and management of highly qualified personnel. The main characteristics, basic technologies and the strategic role of Industry 4.0, as well as its impact on business and working conditions of employees and the state as a whole, are analyzed. The model of changes in the role of labor when using “digital” capital is analyzed. A full-fledged entry into Industry 4.0 will contribute to various structural and balance changes in the socio-economic sphere, while the main transformations will be subject to the traditional life of a person, his values, beliefs and, ultimately, the conditions of existence. Despite the fact that robotics in the course of Industry 4.0 to replace the individual, the human labour in specific segments will be necessary. Work is also necessary for the development of the individual, both culturally and psychologically.

scholarly journals Industry 4.0 Concept: Background and Overview

2017 ◽  
Vol 11 (5) ◽  
pp. 77 ◽  
Author(s):  
Andreja Rojko
Keyword(s):  
Industry 4.0 ◽  
New Technologies ◽  
Production Systems ◽  
Building Blocks ◽  
Current Status ◽  
Reference Architecture ◽  
Architecture Model ◽  
Incremental Development ◽  
Industrial Manufacturing

<p class="0abstract">Industry 4.0 is a strategic initiative recently introduced by the German government. The goal of the initiative is transformation of industrial manufacturing through digitalization and exploitation of potentials of new technologies. An Industry 4.0 production system is thus flexible and enables individualized and customized products. The aim of this paper is to present and facilitate an understanding of Industry 4.0 concepts, its drivers, enablers, goals and limitations. Building blocks are described and smart factory concept is presented. A Reference Architecture Model RAMI4.0 and role of standardization in future implementation of Industry 4.0 concept are addressed. The current status of Industry 4.0 readiness of the German companies is presented and commented. Finally it is discussed if Industry 4.0 is really a disruptive concept or simply a natural incremental development of industrial production systems.</p>

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