scholarly journals Required competencies for successful digital transformation

Ekonomika ◽  
2020 ◽  
Vol 66 (3) ◽  
pp. 47-54
Author(s):  
Vanja Erceg ◽  
Tihomir Zoranović
Keyword(s):  
Intellectual Capital ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Global Market ◽  
Digital Transformation ◽  
Business Culture ◽  
Fourth Industrial Revolution ◽  
Digital Strategy ◽  
The Internet Of Things

In the middle of the Fourth Industrial Revolution there is a digital transformation that will completely change our understanding of business. The development of Industry 4.0 with technologies such as Cloud computing, the Internet of Things, and artificial intelligence will significantly impact on current business models. In order to successfully implement the digital transformation and survive in the global market, companies must own adequate intellectual capital. Apart from technical skills, employees will need to adapt to the new digital strategy, organizational structure, and business culture. In response to this trend, there is a need to establish new professions in companies. The aim of this paper is to try to find the answers to the next questions: which professions are needed to be introduced to companies that are digitally transformed and what is their role, as well as what competencies are necessary for company executives to successfully slow down digital transformation.

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.

Digital Transformation and Industry 4.0

2021 ◽  
pp. 1-17
Author(s):  
Hanaa Abdulraheem Yamani ◽  
Waleed Tageldin Elsigini
Keyword(s):  
Customer Service ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Digital Transformation ◽  
Fourth Industrial Revolution ◽  
Industrial Companies ◽  
The Future ◽  
Information And Communication ◽  
Definition Of

The current era is witnessing many changes on various levels. The information and communication revolutions are considered one of the important changes which has cast a shadow over how different institutions in society work via the phenomenon of digitization. As some of the most important institutions of society, industrial companies have been responding to this phenomenon of digital transformation to improve products and customer service while achieving a significant profitable return. This response by these institutions to the digital transformation has resulted in the emergence of the so-called fourth industrial revolution. In this context, this chapter reviews the definition of digital transformation as well as its dimensions, benefits, and obstacles. It also comments on the future of digital transformation and its relationship with industry. Ultimately it presents the fourth industrial revolution in terms of its definition, history, criteria, benefits, and the challenges it faces moving into the future.

Industry 4.0 From a Management Perspective

2022 ◽  
pp. 1-18
Author(s):  
Ilknur Taştan Boz ◽  
Özden Ibrahimağaoğlu
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Organizational Structures ◽  
Transformation Process ◽  
Management Perspective ◽  
Fundamental Transformation ◽  
Transformation Processes ◽  
The Internet Of Things

Industries have undergone three fundamental transformation processes that were revolutionary. Following these processes, industries have been confronted with the phenomenon of Industry 4.0, known as the 4th Industrial Revolution, that is acknowledged as a new transformation process. The basic dynamics of this phenomenon include smart robots, simulation, the internet of things, cloud, additive manufacturing, and big data. It is of utmost importance for businesses that are involved in this process, that are new and trying to adapt to the process, to be prepared and adapt to the effects of Industry 4.0 dynamics. These dynamics lead to significant developments in business models, business processes, organizational structures, employees, and human resource processes. When Industry 4.0 and its dynamics are evaluated in general, businesses that follow the process and make necessary managerial adjustments will be ahead of the competition.

scholarly journals The analysis of the digital transformation trends in the Ukrainian economy

VUZF Review ◽  
2021 ◽  
Vol 6 (4) ◽  
pp. 136-144
Author(s):  
Hanna Snopenko ◽  
Olga Balueva ◽  
Olena Tanchyk
Keyword(s):  
Development Strategy ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Digital Economy ◽  
Digital Transformation ◽  
New Production ◽  
Fourth Industrial Revolution ◽  
Digital World ◽  
The World

The consistent evolution of technology around the world creates new production tools and opportunities for different economic agents. As a result, new economic structures are emerging as a result of industrial revolutions. Today, the digital economy is seen as the backbone of the fourth industrial revolution, as there is a clear shift in the underlying technology and signs of a technological and economic paradigm shift. The current stage of the industrial revolution is associated with the Internet communication technologies development, which has significantly changed the technology of business processes and has been called "digitalisation". Thus, the fourth industrial revolution and the third wave of globalisation are based on the digital economy. The article explores trends in the development of the Ukrainian economy under the influence of ubiquitous digitalisation. Digital transformation changes traditional business models of organisations, allowing them to occupy profitable niches in global markets, raising the prestige of business and the state as a whole. In today's environment, the level of digitalisation illustrates the degree of companies' competitiveness and is a determining factor in development strategy. To analyse the processes of digitalisation and determine the place of Ukraine in the digital world, the article identifies and describes four zones of digital transformation, which are particular to the world economies. It is determined that Ukraine has fallen into a zone of prospective economies, where digital infrastructure is limited. Still, digital development is accelerating, indicating the potential for digitalisation to flourish, which will benefit economic recovery from the COVID-19 pandemic and long-term transformation. Ukraine's integral digital transformation index score is placed at 2.81 out of a possible 5 in 2021. It was determined that the main barriers to the digital transformation development in Ukrainian business include ineffective legislation, insufficient funding and low digital literacy of the population. However, the highest score among the index components was given to companies' overall level of digital transformation. A positive result of the survey is confirmation of increased investment in the digital technologies development in Ukraine: priority investments in this area include customer interaction, data analytics and HR management.

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.

Digital Transformation in the Utilities Industry

2019 ◽  
pp. 304-330 ◽  
Author(s):  
Marcelo Teixeira de Azevedo ◽  
Alaide Barbosa Martins ◽  
Sergio Takeo Kofuji
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Treatment Plant ◽  
Water Treatment Plant ◽  
Digital Transformation ◽  
Fourth Industrial Revolution ◽  
Efficient Management ◽  
Industrial Internet ◽  
Management Of Resources ◽  
Third Industrial Revolution

Nowadays, there is a digital transformation in industry, which is being referred to as a new revolution, known as the fourth industrial revolution. Today, we are in the fourth industrial revolution, which strongly supports itself at enabling technologies, such as: Internet of Things (IoT), big data, cyber-physical systems (CPS) and cloud computing. These technologies are working cooperatively to promote a digital transformation in the forms of: Industry 4.0, Industrial Internet Consortium and Advanced Manufacturing. To meet these needs and as a proof of concept, a platform for digital transformation for a water issue is proposed with the objective of achieving an efficient management of resources linked to rational use of water. For the platform definition, a survey was performed of the process of a water treatment plant from the third industrial revolution and improved the process by applying the concepts of digital transformation to improve the new platform.

The corona crisis as a catalyst for the digital transformation in the sanitary trade?

2020 ◽  
Vol 15 (4) ◽  
pp. 2-12
Author(s):  
Marcus Diedrich ◽  
Markus Peplinski
Keyword(s):  
Business Models ◽  
Industrial Revolution ◽  
Industrial Sector ◽  
Digital Transformation ◽  
Work Design ◽  
Fourth Industrial Revolution ◽  
Digital Infrastructure ◽  
The Future ◽  
Framework Conditions ◽  
Working World

The term Work 4.0 is connected with the discussion about the fourth industrial revolution, but focuses on modes of working conditions – not only in the industrial sector but also in the entire working world. The digital transformation is leading to profound changes in business models, organizations and work design. The working world of the future will be more digital, flexible and networked. The corona crisis has shifted the framework conditions with regard to communication both within the company and with customers. Many companies are becoming aware that too little money and time has been invested in digital infrastructure. The aim of this essay is to fnd out to what extent the corona crisis serves as a catalyst for the digital transformation in the specialist sanitary trade. The study carried out for this purpose leads to the result that the use of video conferences and home offces have increased and will also be used more frequently in the future. In contrast, the use of targeted multi-channel measures in the form of virtual showrooms is on the decline.

Industry 4.0: proposing a framework

2020 ◽  
Vol 8 (6) ◽  
pp. 250-267
Author(s):  
Carlos Eduardo Silva ◽  
Rodolfo Cardoso ◽  
Ramon Baptista Narcizo ◽  
Luiza Maciel Gonçalves ◽  
Yohana Carvalho
Keyword(s):  
Quantitative Analysis ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Future Research ◽  
Fourth Industrial Revolution ◽  
The Subject ◽  
Scopus Database ◽  
Technological Clusters ◽  
Practical Implications

The term Industry 4.0 has gained prominence in academic and business discourses in recent years, having its concept related to the so-called fourth industrial revolution. Goal: The present research aims to develop and present a framework with the concepts of Industry 4.0. Methodology: The study started from a quantitative analysis of the academic articles available in the Scopus database. Subsequently, a qualitative analysis of articles and technical reports (mostly) was carried out to obtain a more applied technological vision in the industry. With this, technological clusters were built and, finally, the Industry 4.0 framework was proposed. Results: As a result, it was possible to establish an overview of the publications, highlighting the main conceptual views of the different terms that converge for the fourth industrial revolution, as well as the main technologies associated with Industry 4.0, systematizing the knowledge in the industry 4.0 framework. Limitations of the investigation: The search has been limited to available and selected papers for reading. Practical implications: The practical contribution has been satisfactorily evaluated to assist future research on the subject. Value: Finally, the main contribution of the work is the creation of a framework that synthesizes and systematizes the relationships among the main characteristics, technologies, products and business models of the 4.0.

scholarly journals Regional development: organizational and economic mechanism in the context of the fourth industrial revolution

2021 ◽  
pp. 144-155
Author(s):  
Marina Slonimska ◽  
Nadezhda Dubko ◽  
Elena Veretennikova
Keyword(s):  
Supply Chains ◽  
Regional Development ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Digital Transformation ◽  
Sustainable Growth ◽  
Business Community ◽  
Economic Mechanism ◽  
Fourth Industrial Revolution ◽  
Systemic Transformation

Relevance of the research topic. The information and knowledge flow management is an important component for regional development in the context of the fourth industrial revolution. It allows taking advantage of the opportunities hidden in the digital transformation of the business community and providing the transformations necessary to reorient development towards inclusive and sustainable growth. Formulation of the problem. Managing the process of introducing Industry 4.0 technologies based on effective state and collective strategies opens up opportunities for regional development, but requires the development of special decision support tools, scientific substantiation of the model of systemic transformation of the region, identification of the main stakeholders and the mechanism of their interaction. Analysis of recent research and publications. The works of such researchers as Yasheva G. A. and Fateev V. S. (Belarus), Lenchuk E. B. (Russia), Götz M. and Jankowska B. (Poland), Ciffolilli A. and Muscio A. (Italy) and others are devoted to the issues of territorial and regional development in the context of the fourth industrial revolution. Selection of unexplored parts of the general problem. The mechanism of small businesses involving in the process of the necessary systemic transformation in the context of the fourth industrial revolution has not been sufficiently studied. Setting the task, the purpose of the study. The purpose of the study is to analyze the theories of regional development in the context of the fourth industrial revolution and to propose an organizational and economic mechanism for the digital transformation of the regional business community, including the SMEs’ sector. Method or methodology for conducting research. The research used the methods of analogies, analysis and synthesis, sociological survey. Presentation of the main material (results of work). The article analyzes the main concepts of regional development, concludes that it is necessary to consolidate regional actors according to the ‘Quadruple Helix’ model based on inter-organizational information systems in order to introduce Industry 4.0 technologies. An algorithm for the development of an electronic platform from a cluster site to an information system of integrated supply chains is proposed on the example of the Novopolotsk innovative and industrial petrochemical cluster. The field of application of results. The results of the research can be used by companies providing activity in regional development and small business support, in scientific and educational institutions, in public administration. Conclusions according to the article. Networked connections between regional actors, innovation networks based on the open innovation paradigm and integrated supply chains promote region development in the context of the fourth industrial revolution, this requires appropriate institutional conditions.

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