Future of Education in Industry 4.0

With the developments in technology and innovation, the manufacturing, workforce, training, and educational systems were affected. Facing the fourth industrial revolution, academics are researching the possible changes that might arise in education and skills of the future workforce. As the workplace develops, new competencies will surface. With this context in mind, the authors initiated this research. A detailed questionnaire was prepared as a pilot study to comprehend students' views on the use of technology in classrooms and its impact on their learning experience and engagement. Knowledge of their views allowed the authors to draw inferences as to the skills and competencies of future students and whether they would match Industry 4.0. Furthermore, a gap analysis was conducted, whereby the existing situation at a Canadian higher educational institution was compared to the desired situation, and recommendations were put forward.

Industry 4.0 and Its Effects on the Insurance Sector

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.

Critical Success Factors in Enterprise Resource Planning Implementation

Enterprise resource planning (ERP) systems are considered, by many, to be extremely solid, while giving organizations the ability to quickly capture and manage data across diverse sectors. Because the successful employment of an ERP system depends upon skillful implementation, specific factors contributing to successful ERP implementation are essential. What are the critical factors in the implementation of ERP system? How do company administrators and IT professionals perceive the critical successful factors for the effective implementation of the ERP? How are critical successful factors defined? How do IT professionals perceive the influence of critical factors on the effective implementation of ERP in a Phoenix company? In this chapter, the critical successful factors in the implementation of ERP systems will be explored. A single case study was conducted, and the interview data were gathered from 15 IT professionals in a Phoenix, Arizona company. Problems, solutions, recommendations, and future research direction will be presented.

Social Media as a Communication Channel

In digital world, people spend most of their time on social media. Social media has gone beyond being just an online communication platform. It has become a channel that users prefer to other online platforms, such as websites, blogs, forums to get information about various businesses, events, and individuals. With Industry 4.0, all devices are connected to online platform, smart devices get more place in daily life. Instead of accessing information through individual applications, consumers prefer to obtain information from the company's social media pages and/or the company's internal and external customers' shared content. The purpose of the chapter is to indicate the importance of social media use, for organizations to interact effectively with all stakeholders, and to explain the benefits of social media usage of organizations in terms of different functions with examples from best cases and results of empirical researches.

Digitalization Strategies in the New World Order

Digitalization in organizational context enforces organizations to define their own strategies. In this sense, organizations make their choices from a variety of digitalization strategies from IT strategy to digital orchestration strategy. Organizational digitalization, their digitalization capabilities, and transformations that they have experienced define their routes in the digitalization process. Thus, the purpose of this chapter is to present digitalization strategy choices mentioned in the business management literature through examples.

Application of Utility Mining in Supply Chain Management

Supply chain management (SCM) assumes an exceptionally indispensable part in overseeing and sorting out big business forms, expanding operational productivity of the association. Inventory management is turning into a need to enhance the establishment and framework inside social orders which thusly builds the financial development. The examination discoveries demonstrate that despite the fact that it appears that SCM gives numerous administrations, it has a few issues as well including poor stock administration, bullwhip impact, high cost of coordination, innovation use, and lacking interest in IT. To beat issues of SCM, there is need of an enhanced sales forecasting model that will build the reliable and efficient forecasting results. An enhanced sales forecasting model is presented in this chapter.

Can Internal Social Media and Data Mining Be a Powerful Communication Vehicle in Reaching Employees in Change Management in Industry 4.0?

With the rapid changes in the information and communication technologies through Industry 4.0, managers and change agents are now able to unlock wholly new streams in communicating change to their stakeholders. Social media can be an important “vehicle” to facilitate better and faster change management, whereas data mining can provide some crucial insight about employee perception about change. The purpose of this chapter is to capture the reader's attention towards the relationship between change management and Industry 4.0 tools specifically: social media and data mining. For that purpose, three in-depth interviews with senior managers of a Turkish telecommunication and technology services provider were conducted. The results support the research questions partially but point out new variables (national culture and generation gap) to consider in the relationship between employee behaviors and social media usage as an internal communication tool. Lastly, this chapter aims to provide suggestions for further studies.

Artificial Intelligence Leadership

New developments in technology may cause massive changes in the organizational and managerial contexts as well as daily life. The aim of the research is to discuss how AI may affect the future of business life in respect to leadership and management. Additionally, questioning the possibility of artificial intelligence leadership. For this purpose, AI will be evaluated with regard to managerial roles defined by Henry Mintzberg. Evaluation of the managerial roles within the scope of AI leads us to think that AI will have a rich potential to lead and manage human beings. According to capabilities of AI, it can be suggested that AI might produce better results than human beings in the context of the managerial roles. AI leadership discussion gives a chance to shed light on today's management practices in a critical manner by comparing imagined AI with human being managers.

“New Normal” Strategic Communication

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.

Understanding Digital Congruence in Industry 4.0

Industry 4.0 is a type of revolution that brings profound changes around the world. Industry 4.0 has both broadened the scope of digital transformation and raised its importance to organizations. The interconnection of digital and physical processes is fundamentally increasing. In this respect, digital transformation becomes a major driving force of Industry 4.0 for organizations. While Industry 4.0 presents key opportunities to boost competitiveness and promotes digital change, development of digital capabilities is significant for organizations to be better prepared to implement these advances. Thus, according to some authors, digital capabilities refer to digital congruence. Digital congruence relates to culture, people, structure, and tasks in organizations. It is therefore considered that explaining the link between digital congruence and Industry 4.0 will provide a unique insight into the research agenda of Industry 4.0.