scholarly journals A Case Study of the Korean Government’s Preparation for the Fourth Industrial Revolution: Public Program to Support Business Model Innovation

2019 ◽  
Vol 5 (2) ◽  
pp. 35 ◽  
Author(s):  
Heyoung Yang ◽  
Su Youn Kim ◽  
Seongmin Yim
Keyword(s):  
Business Models ◽  
Industrial Revolution ◽  
Model Framework ◽  
Fourth Industrial Revolution ◽  
Business Ecosystems ◽  
Before And After ◽  
New Business ◽  
World Economic ◽  
Smart Cars

The Fourth Industrial Revolution caused by innovative technologies is an irresistible megatrend, and many companies, institutions, and major countries are making efforts to participate. The World Economic Forum took the lead in discussing the Fourth Industrial Revolution, adding the issue to its 2016 agenda, and found that many governments, including that of Korea, were concerned about how to support their nation’s participation in the Fourth Industrial Revolution and were pursuing programs to support such efforts. In this study, we describe one of those programs, the Korean government’s Flagship Project Support Program (FPSP), which supports latecomers in creating open platforms and creating new business ideas in innovative technological industries. The program helps businesses overcome entry barriers to existing business ecosystems established by big technological players in growing fields such as smart cars, the Internet of Things (IoT), virtual reality (VR), etc. The purpose of this study is to determine whether latecomers and small- and medium-sized companies that are experiencing difficulties in their own innovation can succeed in innovation through the Korean government’s FPSP. This study performed a comprehensive and qualitative analysis based on the Logic Model Framework consisting of an investigation of business ecosystems before and after the FPSP, assessment of outcomes, and evaluation of the effectiveness of the FPSP. This study shows that open platforms resulting from the FPSP successfully innovated business models in Korea. Our study, therefore, has implications for other governments seeking to play a role in supporting the Fourth Industrial Revolution.

scholarly journals The Fourth Industrial Revolution of Healthcare Information Technology: Key Business Components to Unlock the Value of a Blockchain-Enabled Solution

2020 ◽  
Author(s):  
Ann Ingraham ◽  
Jim St. Clair
Keyword(s):  
Business Model ◽  
Business Models ◽  
Industrial Revolution ◽  
Healthcare Information Technology ◽  
World Economic Forum ◽  
Goods And Services ◽  
Fourth Industrial Revolution ◽  
Blockchain Technology ◽  
New Business ◽  
World Economic

Editor’s note: This article is one of an ongoing series covering topics published in conjunction with the Health Information Management and Systems Society (HIMSS) describing the development of blockchain technology and its applicability to healthcare.  As described by the World Economic Forum (WEF),1 the fourth industrial revolution is here and is changing business models across every industry vertical. This revolution includes digital technology, big data, artificial intelligence, distributed ledger technology (DLT, or blockchain), and analytics, and represents new ways in which technology is being integrated into societies. This changing interaction with technology will impact business models. Traditional business models are historically based on a centralized framework for delivery of goods and services to the consumer. The new business model is based on the decentralization of the creation and delivery of goods and services. At the core of the new model, organizations must demonstrate value-creation and value-delivery, while ensuring their solutions are secure, scalable, and interoperable to remain competitive. A decentralized business model built on a blockchain framework can provide the decentralization and security needed for this industry shift. 

Revolutionary dreams: Future essentialism and the sociotechnical imaginary of the fourth industrial revolution in Denmark

2019 ◽  
Vol 50 (4) ◽  
pp. 542-566
Author(s):  
Kasper Schiølin
Keyword(s):  
Public Reason ◽  
Industrial Revolution ◽  
National Level ◽  
Original Material ◽  
Discursive Strategies ◽  
Fourth Industrial Revolution ◽  
The World ◽  
World Economic ◽  
To Come

In 2015, the World Economic Forum announced that the world was on the threshold of a ‘fourth industrial revolution’ driven by a fusion of cutting-edge technologies with unprecedented disruptive power. The next year, in 2016, the fourth industrial revolution appeared as the theme of the Forum’s annual meeting, and as the topic of a book by its founder and executive chairman, Klaus Schwab. Ever since, the Forum has made this impending revolution its top priority, maintaining that it will inevitably change everything we once know about the world and how to live in it, thus creating what I conceptualize as ‘future essentialism’. Within a short space of time, the vision of the fourth industrial revolution was institutionalized and publicly performed in various national settings around the world as a sociotechnical imaginary of a promising and desirable future soon to come. Through readings of original material published by the Forum, and through a case study of the reception of the fourth industrial revolution in Denmark, this article highlights and analyses three discursive strategies – ‘dialectics of pessimism and optimism’, ‘epochalism’ and ‘inevitability’ – in the transformation of a corporate, highly elitist vision of the future into policymaking and public reason on a national level.

scholarly journals DIGITAL GLOBALIZATION IN THE ERA OF THE FOURTH INDUSTRIAL REVOLUTION: POTENTIAL FOR TRANSFORMATION

2021 ◽  
Author(s):  
Olena Dovgal ◽  
◽  
Georgiy Dovgal ◽  
Keyword(s):  
International Trade ◽  
Business Models ◽  
Industrial Revolution ◽  
Production Costs ◽  
Fourth Industrial Revolution ◽  
Digital Infrastructure ◽  
The World ◽  
New Business ◽  
The Impact ◽  
New Business Models

The article considers the potential for transformation of the world economy under the influence of digital globalization in the era of the fourth industrial revolution. It is substantiated that within the framework of digital globalization the paradigm of organization of production, configuration and content of international trade are changing. At the same time, the process of digitalization leads to qualitative changes in all spheres of production, economic and trade activities around the world. Formation of production technological processes using the Internet of Things, modules of artificial intelligence and 3D-printing allows to reduce production costs and increase the competitiveness of products. Attention is focused on the essence of the changes taking place, the directions of the vectors of economic development in the context of the changing digital space. Particular attention is paid to the functioning of new business models (in particular, digital platforms), the transformation of the structure, configuration, forms and methods of international trade, as well as the impact of ongoing processes on international competitiveness. An important place is given to the problems of e-commerce, the content of the processes taking place in this segment of international economic relations. Some approaches to solving the problems of digitalization at the international and national levels are proposed. In the global dimension, it is important to ensure, through the adoption of binding legal documents for WTO member states on the freedom of information exchange, aimed at stimulating innovative development, promoting the removal of barriers in the e-commerce segment, encouraging investment in digital infrastructure and human capital. . The development of the country's digital potential and digital infrastructure involves the implementation of localization measures, ie requires the creation of national platforms for the accumulation and storage of information. It is concluded that the global process of digitalization creates the potential for dynamic development of new business models, stimulates productivity and increases competitiveness.

scholarly journals The analysis of the response from tertiary education programs to the challenges of the Fourth Industrial Revolution

2019 ◽  
Vol 13 (1) ◽  
pp. 1261-1266 ◽  
Author(s):  
Ioana Coralia Zavera
Keyword(s):  
Business Models ◽  
Industrial Revolution ◽  
Tertiary Education ◽  
Educational Environment ◽  
Human Society ◽  
New Paradigm ◽  
Education Programs ◽  
Fourth Industrial Revolution ◽  
New Business ◽  
Heated Debate

Abstract One can find at the level of the specialized literature a heated debate on the metaphor that defines the status of the international economy and human society. Some analysts argue that the Third Industrial Revolution is currently undergoing an advanced stage, while others claim that due to the speed, scale and impact of the transformations that have taken place, the fourth industrial revolution has already begun. This paper analyzes how the artificial intelligence, personalized medicine, virtual reality or the internet of things are a few motors that fueled the advance to the Fourth Industrial Revolution and their impact on cognitive competencies, skills and abilities to guarantee tertiary education programs. The main analytical hypothesis is that technology is the one that encourages humanity to accelerate and focus on changes in other areas, especially that the risk of increasing gap between technological advance and in areas such education appears. The paper examines the concrete way in which transformations that follow a symbiosis of man with technology contribute to the configuration of a new paradigm to which the educational environment has to face with. The paper aims also to highlight the main challenges of the educational environment in relation to the fourth industrial revolution, and what are the necessary transformation for a good correlation of the human capital with technological progress. Emphasis is on new sets of skills, creativity, innovation, so that new business models can be developed and applied in a changing environment.

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 Post Human Craft: A Humble Attempt to Reorient Makers to the Inevitable

Cubic Journal ◽  
2020 ◽  
pp. 150-165
Author(s):  
James Stevens ◽  
Keyword(s):  
Human Evolution ◽  
Industrial Revolution ◽  
First Century ◽  
World Economic Forum ◽  
Profound Change ◽  
Fourth Industrial Revolution ◽  
The World ◽  
World Economic ◽  
Digital Algorithms ◽  
Waking Up

Nearing the end of the second decade of the twenty-first century many craftspeople and makers are waking up to the inevitable reality that our next human evolution may not be the same, that this time it could be different. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum refers to what we are beginning to experience as the Fourth Industrial Revolution (Schwab 2017, 01). Schwab and his colleagues believe that this revolution could be much more powerful and will occur in a shorter period than the preceding industrial and digital revolutions. This revolution will cause a profound change in how we practice, labour and orient ourselves in the world. Rapidly evolving technologies will proliferate the use of robotics and personalised robots (co-bots) that can sense our presence and safely work alongside us. Digital algorithms are already becoming more reliable predictors of complex questions in medicine and economics than their human counterparts. Therefore, the gap between what a computer can learn and solve and what a robot can do will quickly close in the craft traditions. This article will engage in the discourse of posthumanism and cybernetics and how these debates relate to craft and making. Intentionally this work is not a proud manifesto of positions, strategies, and guidelines required for greatness. Alternatively, it is a humble attempt to reorient makers to the necessary discourse required to navigate the inevitable changes they will face in their disciplines. Thus, the article seeks to transfer posthumanist literary understanding to intellectually position craft in the Fourth Industrial Revolution.

scholarly journals Analysis of Comparison of Islamic Banks with Online Micro In Disbursements of Micro-Financing Based on Requirements, Services Speed and Margin (Case Study of Micro-finance at Bank Mandiri Syariah and Micro Credit Uangteman.com)

2020 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Lucky Nugroho ◽  
Harnovinsah Harnovinsah ◽  
Yananto Mihadi Putra ◽  
Prinoti Prinoti
Keyword(s):  
Interest Rates ◽  
Digital Technology ◽  
Business Models ◽  
Industrial Revolution ◽  
Secondary Data ◽  
Financial Sector ◽  
Islamic Banks ◽  
Financial Technology ◽  
Micro Credit

The dynamics of the use of digital technology in the industrial revolution era 4.0 has had an impact on the financial sector. One of them is the development of financial technology (fintech) in the form of online loan services. Furthermore, the flagship product from fintech is lending to micro and small entrepreneurs. Likewise, Islamic banks that have a focus on financing to micro and small entrepreneurs must be able to compete with fintech services in the era of the industrial revolution 4.0 that is happening at this time. The purpose of this study is to analyze the different mechanisms of micro-financing distribution between Bank Mandiri Syariah and microcredit UangTeman.com. The method used is qualitative, which is to compare the requirements, mechanisms, and margins imposed on the customers and the information obtained through secondary data, namely standard and operational procedures. Based on the results of the study, the requirements and procedures for granting loans to micro and small entrepreneurs at Bank Mandiri Syariah are longer compared to UangTeman.com. While the fines for late payment in installments and interest rates on UangTeman.com are higher than the fines and margins of Bank Mandiri Syariah micro-financing. Therefore to be able to improve products and services for micro and small entrepreneurs, Bank Mandiri Syariah conducts a review of business models and business

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.

scholarly journals Measurable Effects of Metropolitan Gas Purchasing Group in the Light of Gas Market Functioning in Poland

Resources ◽  
2020 ◽  
Vol 9 (4) ◽  
pp. 36
Author(s):  
Karolina Mucha-Kuś
Keyword(s):  
Market Structure ◽  
Business Models ◽  
Market Liberalization ◽  
Positive Effects ◽  
A Value ◽  
New Business ◽  
Gas Market ◽  
Purchasing Group ◽  
New Business Models

As a result of the gas market liberalization, new business models are emerging and one that brings positive effects to market players is purchasing group functioning. This paper adopts the approach of gas market review and provides a synthesis of its functioning in Poland. The review focuses first on the frameworks of the process of gas market liberalization. Next, the author presents gas market structure and lists and comments on its components. Then, the main characteristics of the market are discussed. The author presents a case study of the Metropolitan Gas Purchasing Group—the largest gas purchasing group in Poland with the volume reaching almost 225 GWh of purchased gas. As a result, the author highlights the effects of this coopetitive strategy which reached a value of PLN 3,000,000.

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