THE IMPACT OF INDUSTRY 4.0 ON BUSINESS RESULTS

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F75081431%3A_____%2F24%3A00002742" target="_blank" >RIV/75081431:_____/24:00002742 - isvavai.cz</a>

Result on the web

<a href="https://jssidoi.org/jesi/article/1200" target="_blank" >https://jssidoi.org/jesi/article/1200</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

THE IMPACT OF INDUSTRY 4.0 ON BUSINESS RESULTS

Original language description

The article aims to present the impact of Industry 4.0, which has developed worldwide as a new revolution in production and impacted manufacturing companies and changes in companies in the Czech Republic that apply it. Discussions in the engineering business emphasise the need to consider both the benefits and drawbacks of proposed modifications. In today's fast-paced environment, staying current with trends and continuing education is critical. Changes can be chaotic, affecting several industries. Businesses must change rapidly to stay caught up. The current trend is Industry 4.0, in which emphasis is placed on automation, digitisation, robotisation, artificial intelligence, etc., and this is an era of opportunities for digitalisation on a comprehensive scale. Employee change in response to new technology requires preparedness and skill development. Furthermore, business investment prioritises land and labour substitution for capital and technological equipment updates. The industry seeks to improve process quality and efficiency while promoting environmental sustainability and waste reduction in corporate production, emphasising the critical need for a comprehensive sustainable strategy. The study examines the influence of Industry 4.0 on corporate performance over five years, focusing on prospective transitions towards the new industrial age. The authors employed data collection, content analysis, and correlation approaches. The findings show varying added value patterns post-implementation, impacted mainly by firm size.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

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Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2024

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Entrepreneurship and Sustainability Issues

ISSN

2345-0282

e-ISSN

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Volume of the periodical

11

Issue of the periodical within the volume

4

Country of publishing house

LT - LITHUANIA

Number of pages

14

Pages from-to

205-218

UT code for WoS article

001250847500013

EID of the result in the Scopus database

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