scholarly journals Extending micro-credentials to micro-apprenticeships for the Fourth Industrial Revolution: Enhancing vocational education and training in the post-pandemic’s ‘new normal’

2021 ◽  
Vol 12 (1) ◽  
pp. 39-43
Author(s):  
Pi-Shen Seet ◽  
Janice T. Jones
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Vocational Education And Training ◽  
New Normal ◽  
International Borders ◽  
New Business ◽  
Digital Competencies ◽  
Increasing Demand ◽  
Restricted Mobility

As noted in the foreword of this Special Issue, COVID-19 has accelerated the Fourth Industrial Revolution’s or Industry 4.0’s disruption to the labour market (Sally, 2021). Beyond Industry 4.0 (I4.0), the COVID-19 pandemic has accelerated the adoption of digital technologies by enterprises, underscoring the need for workers to continuously upskill their digital competencies in order to remain relevant (Heinonen & Strandvik, 2021). Besides digitisation, organisations have had to innovate and adopt new business models to adapt to the ‘new normal’ of surviving and growing beyond the COVID-19 pandemic (Heinonen & Strandvik, 2021). In countries that largely relied on skilled migration as an important source of talent, the closure of international borders has restricted mobility of human capital resulting in insufficient skilled employees to meet the current and ever-increasing demand for skills (Guadagno, 2020).

Industry 4.0 and Sustainability

2020 ◽  
pp. 67-84
Author(s):  
Sibel Yildiz Çankaya ◽  
Bülent Sezen
Keyword(s):  
Sustainable Development ◽  
Global Warming ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Business ◽  
The Impact ◽  
Industrial Revolutions ◽  
New Business Models

Modern industry developed over several centuries and three industrial revolutions. Today, we experience the fourth era of the industrial revolution, Industry 4.0. The advance of industrialization brought along many problems, including environmental pollution, global warming, and depletion of natural resources. As a result, the concept of sustainability began to gain importance. Sustainability can be achieved through a balance between economic, social, and environmental processes. In order to establish such balance, businesses need new business models or insights. At this point, Industry 4.0 can be regarded as a new business mindset that will help businesses and communities move towards sustainable development. The technologies used by Industry 4.0 bear a strong promise to solve these problems, after all. Even though Industry 4.0 attracts a lot of attention lately, few works are available on its impact on sustainability. This chapter examines the impact of Industry 4.0 on sustainability.

Industry 4.0 and Sustainability

2021 ◽  
pp. 113-130
Author(s):  
Sibel Yildiz Çankaya ◽  
Bülent Sezen
Keyword(s):  
Sustainable Development ◽  
Global Warming ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Business ◽  
The Impact ◽  
Industrial Revolutions ◽  
New Business Models

Modern industry developed over several centuries and three industrial revolutions. Today, we experience the fourth era of the industrial revolution, Industry 4.0. The advance of industrialization brought along many problems, including environmental pollution, global warming, and depletion of natural resources. As a result, the concept of sustainability began to gain importance. Sustainability can be achieved through a balance between economic, social, and environmental processes. In order to establish such balance, businesses need new business models or insights. At this point, Industry 4.0 can be regarded as a new business mindset that will help businesses and communities move towards sustainable development. The technologies used by Industry 4.0 bear a strong promise to solve these problems, after all. Even though Industry 4.0 attracts a lot of attention lately, few works are available on its impact on sustainability. This chapter examines the impact of Industry 4.0 on sustainability.

“New Normal” Strategic Communication

2020 ◽  
pp. 71-92
Author(s):  
Slavica Cicvarić Kostić ◽  
Jelena Gavrilović Šarenac
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Planning Process ◽  
Strategic Communication ◽  
New Normal ◽  
Business Functions ◽  
New Industry ◽  
Modern Technologies

The digital industrial revolution, also called Industry 4.0, is substantially changing all areas of business. The application of modern technologies is transforming not only products and processes in the industry, but also business models in all sectors, which further implies required adaptations of all business functions. This chapter addresses the new dynamics and implications for strategic communication brought on by digitalization. A planning process of strategic communication will be elaborated within a digital context, together with the specifics of communicating with younger generations. Communication activities mostly relevant for companies in the new industry will also be presented. The issue of ethics in strategic communication will be also addressed, together with major initiatives in regulating the standards of the profession. The purpose of this chapter is to describe the changes that new technologies have brought to the discipline.

Digital transformation of traditional marketing business model in new industry era

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aylin Caliskan ◽  
Yeşim Deniz Özkan Özen ◽  
Yucel Ozturkoglu
Keyword(s):  
Industry 4.0 ◽  
Service Sector ◽  
Business Models ◽  
Industrial Revolution ◽  
Marketing Mix ◽  
Point Of View ◽  
Content Type ◽  
Depth Analysis ◽  
New Business ◽  
Managerial Implications

PurposeImpact of the digitalization on the production and service sector is a highly popular topic in these days and especially, new business models receive increasingly more attention. Under the light of digitalization, the Fourth Industrial Revolution, so-called Industry 4.0, and its impacts on all kinds of process is a promising topic in the academia and also beneficial for the practitioners. Since there are arguments from scholars that Industry 4.0 has an important and shaping effect on marketing, the concept of 7P's in marketing should be incorporated in Industry 4.0 elements. From this point of view, this study focuses on developing the understanding of 7P's based on contemporary perspectives of Industry 4.0.Design/methodology/approachIn order to do that, different criteria related to integration of Industry 4.0 and marketing practices under each marketing-mix element are presented and one of the multi-criteria decision-making (MCDM) methods, the best–worst method (BWM) is used to prioritize the criteria for future implications.FindingsResults indicated that product, process and physical evidence are the most affected marketing-mix factors by considering Industry 4.0. managerial implications which were also presented based on the numerical results.Originality/valueAn in-depth analysis of literature review related to Industry 4.0 revealed that changing and developing technologies are examined in detail mostly around a production perspective. In order to fulfill the gap in the knowledge, this study focuses on the examination of impacts of Industry 4.0 on the marketing-mix strategy. To the best of the authors’ knowledge, this is the first study which merges Industry 4.0 with the marketing mix.

scholarly journals Business Models in the Industry 4.0 Environment—Results of Web of Science Bibliometric Analysis

2022 ◽  
Vol 8 (1) ◽  
pp. 19
Author(s):  
Sandra Grabowska ◽  
Sebastian Saniuk
Keyword(s):  
Competitive Advantage ◽  
Bibliometric Analysis ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Strategic Thinking ◽  
Research Areas ◽  
New Business ◽  
Modern Business ◽  
Business Practitioners

The Fourth Industrial Revolution affects the operations of companies and results in new strategic thinking. The changes resulting from the requirements of Industry 4.0 force restructuring in many areas of management or the building of new business models. The aim of this article was to indicate the pillars that will form the basis for building business models of enterprises functioning in the era of Industry 4.0. The research methods used in this article were bibliometric analysis and analysis of the content of sophisticated publications. The results of this research are the analysis of the dynamics of publications in the area of business models in the era of Industry 4.0, an indication of the research areas undertaken in these publications and the identification of the pillars that will constitute the basis for building business models in the era of Industry 4.0. Business models in the era of Industry 4.0 are to be a method of increasing and using the company’s resources in order to achieve a competitive advantage through personalization of products and their new quality; their key competitive advantage will be a structure based on a network of cyber-physical cooperation. This article is dedicated to scientists and business practitioners looking for tips for building modern business models.

Industry 4.0 initiatives in EU countries: experience for Ukraine

2020 ◽  
pp. 65-70
Author(s):  
Nataliya Ryvak ◽  
Anna Kernytska
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Successful Implementation ◽  
Industrial Complex ◽  
Interconnected System ◽  
Industrial Transformation ◽  
Eu Countries ◽  
European Experience ◽  
High Level

In this paper, digital technologies development was analyzed as the basis for the so-called “fourth industrial revolution” with the potential for the qualitative transformation of the Ukrainian economy based on EU countries’ experience. Industry 4.0 is a new control chain over the entire chain of creating value throughout the product lifecycle. When developing an economic policy, it is important to pay attention to Industry 4.0. It increases productivity, produces new, better, and individualized products, and implements new business models based on “undermining” innovations. A comparative analysis of national initiatives I4.0 with their characteristics according to the main dimensions, including funding, focus, direction, was conducted. Particular attention was paid to considering deterrents to the successful implementation and enforcement of the I4.0 initiative in European countries. The factors of successful implementation of I4.0 initiatives in the EU countries were analyzed. Drawing on the analysis of the European experience of digital transformations in industry and national economies in general, the necessity of critical focus of such transformations in Ukraine was highlighted, and the need for state support of industrial transformation was substantiated. The emphasis was placed on the cooperation development between stakeholders within the implementation of Industry 4.0 – it is necessary to create national and regional 4.0 platforms, following the example of EU countries, which would bring together government institutions, businesses, and academics. The successful positioning of the Ukrainian modern industrial complex on the world markets depends on the high level of the interconnected system providing factors that characterize its development process. Considering the influence of a list of inhibiting factors on implementing the country’s industry accelerated development, a set of measures needed to transform Ukraine’s industry based on European experience was substantiated.

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.

Procurement 4.0: factors influencing the digitisation of procurement and supply chains

2018 ◽  
Vol 24 (4) ◽  
pp. 965-984 ◽  
Author(s):  
Florian Bienhaus ◽  
Abubaker Haddud
Keyword(s):  
Supply Chains ◽  
Industry 4.0 ◽  
Online Survey ◽  
Business Models ◽  
Industrial Revolution ◽  
Primary Data ◽  
Content Type ◽  
Procurement Process ◽  
Enabling Technologies ◽  
The Impact

Purpose While digitisation is a key driver of the fourth industrial revolution (Industry 4.0); organisations have different approaches to deal with this topic to get a clearer picture of the opportunities and challenges concerning the digital transformation. The purpose of this paper is to identify the impact of digitisation on procurement and its role within the area of supply chain management. The research will also explore potential barriers to digitising procurement and supply chains and ways to overcome them. Finally, the significance of potential enabling technologies to the digitisation will also be examined. Design/methodology/approach A quantitative approached utilising an online survey was used to collect the primary data for this study. Data were collected from 414 participants directly involved with procurement or related business functions and work for different organisations in different industries. The survey included eight items about the impact of digitisation on organisational performance in the area of procurement and supply chains; ten items related to key barriers to digitisation of organisations and ways to overcome them; and seven items about enabling technologies to leverage procurement procedures and processes digitisation. All of these items utilised the Likert five-point level of agreement scale. Findings The findings indicate that digitisation of procurement process can yield several benefits including: supporting daily business and administrative tasks, supporting complex decision-making processes, procurement will become more focussed on strategic decisions and activities, procurement will become a strategic interface to support organisational efficiency, effectiveness, and profitability, and supporting the creation of new business models, products, and services. The authors were also able to confirm that there are barriers to digitising procurement process and supply chains and such barriers found in existing procedures, processes, capacities, and capabilities. Finally, the significance of a number of enabling technologies to the digitisation process was revealed. Originality/value To the best of the authors’ knowledge, this is the first study of its kind with participants located world-wide. Industry 4.0 as a topic had been explored within different business areas and functions but very limited research specifically explored potential impact, barriers, and enabling technologies of procurement 4.0. The results can be beneficial for organisations already implemented Industry 4.0 or planning to do so. The study can also benefit academic scholars interested in the researched topic, business professionals, organisations within different sectors, and any other party interested in understanding more the concept of procurement 4.0.

Economic and legal regulation of economic activity in the formation of Industry 4.0

2021 ◽  
pp. 105-110
Author(s):  
Nataliya Vnukova
Keyword(s):  
Economic Activity ◽  
Industry 4.0 ◽  
Business Models ◽  
Legal Regulation ◽  
Digital Economy ◽  
Main Body ◽  
National Academy Of Sciences ◽  
Industrial Economics ◽  
New Business ◽  
Develop Technology

Problem setting. The development of the digital economy, taking into account international experience, provides a comprehensive analysis of the regulation of economic activity in relation to the application of Industry 4.0 technologies. Conditions for the development of the digital economy and society provide a thorough analysis of economic and legal regulation of economic activity on the use of innovations in Industry 4.0. Actualization of processes is enhanced by the practical actions of various stakeholders, which emphasizes the need for economic and legal support of this process. Therefore, there is a need to develop recommendations for identifying changes in the economic and legal regulation of the actions of economic entities to develop technologies in Industry 4.0. Analysis of resent researches and publications. OECD conducted a study on the development of digital economy and new business models (2014), Polish scientists R. Pukala, M. Ratajczak, Wozniak Jechorek B. consider the problems of communication in the context of digitalization and startups, recommendations for enterprise development in Industry 4.0 on the basis of their intellectualization provided by researchers of the Institute of Industrial Economics of the National Academy of Sciences of Ukraine N. Bryukhovetskaya and O. Chorna. Plakitkin by Yu. and L. consider programs of Industry 4.0 and digital economy. Target of research. Development of theoretical provisions and practical recommendations for determining changes in the economic and legal regulation of the actions of economic entities to develop technology 4.0 Industry. Article’s main body. The current changes in the regulation of economic activity that occur during the development of Industry 4.0 are considered. An innovative approach to the use of modern search engine Google Trends to determine the interest in the digital economy in the world, the results of a survey to understand the concept of Industry 4.0 and determine the potential level of interest of businesses in Ukraine to invest in the industry 4.0 Conclusions and prospects for the development. To regulate economic activity in the context of the development of Industry 4.0 requires developments in the field of law, the results of the survey indicate the need for further analytical and organizational activities to increase the interest of different categories of businesses in the development of Industry 4.0.

Industry 4.0 in Pumping Applications

2021 ◽  
pp. 941-954
Author(s):  
Luiz Eduardo Marques Bastos
Keyword(s):  
Working Conditions ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Future Research ◽  
Research Directions ◽  
Equipment Operation ◽  
The World ◽  
Future Research Directions ◽  
Traditional Industry

This chapter addresses the so-called Industry 4.0 and some of its applications in industrial pumps, seeking to emphasize its characteristics and benefits. The introduction of 4.0 industry technologies in this traditional industry can cause profound changes in existing business models, providing greater customer satisfaction, either improving the effectiveness of equipment operation, contributing to better adjustment to working conditions, and also prolonging their life cycle. We are still in the early stages of these technologies and a lot is yet to evolve; however, there are already interesting examples developed by some pump manufacturers around the world, some of which will be mentioned in this chapter. It is subdivided into three main parts, namely brief historical panorama from the first industrial revolution to Industry 4.0, current applications in the industrial pump industry, and finally, future research directions and conclusion.

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