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JCR Category: Business in ESCI edition

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2024) 1.3 Q3
Journal Citation IndicatorTM (2024) 0.26 Q4
Received: 2024-01-15  |  Accepted: 2024-04-28  |  Published: 2024-06-30

Title

The impact of Industry 4.0 on business results


Abstract

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.


Keywords

Industry 4.0, enterprise, automation, robotization, digitalization


JEL classifications

M21 , E31 , E61


URI

http://jssidoi.org/jesi/article/1200


DOI


Pages

205-218


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Krulický, Tomáš
Institute of Technology and Business in České Budějovice, České Budějovice, Czech Republic https://www.vstecb.cz
Articles by this author in: CrossRef |  Google Scholar

Apanovych, Yelyzaveta
Institute of Technology and Business in České Budějovice, České Budějovice, Czech Republic https://www.vstecb.cz
Pan-European University, Bratislava, Slovakia https://www.paneurouni.com
Articles by this author in: CrossRef |  Google Scholar

Rodová, Veronika
Institute of Technology and Business in České Budějovice, České Budějovice, Czech Republic https://www.vstecb.cz
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

11


Number

4


Issue date

June 2024


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 1082  |  PDF downloads: 487

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