Consequences of Industry 4.0 in Business and Economics
The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide...
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doaj-ff91341da85741c1b438284f070f4a0f2020-11-25T01:13:38ZengMDPI AGEconomies2227-70992018-08-01634610.3390/economies6030046economies6030046Consequences of Industry 4.0 in Business and EconomicsPetra Maresova0Ivan Soukal1Libuse Svobodova2Martina Hedvicakova3Ehsan Javanmardi4Ali Selamat5Ondrej Krejcar6Department of Economics, University of Hradec Králové, Rokitanskeho 62, 50003 Hradec Králové, Czech RepublicDepartment of Economics, University of Hradec Králové, Rokitanskeho 62, 50003 Hradec Králové, Czech RepublicDepartment of Economics, University of Hradec Králové, Rokitanskeho 62, 50003 Hradec Králové, Czech RepublicDepartment of Economics, University of Hradec Králové, Rokitanskeho 62, 50003 Hradec Králové, Czech RepublicSchool of Economics, Management and Social Sciences, Shiraz University, Shiraz 7194854358, IranMalaysia Japan International Institute of Technology (MJIIT), Universiti Teknologi Malaysia Kuala Lumpur, Kuala Lumpur 54100, MalaysiaCenter of Basic and Applied Research, Faculty of Informatics and Management, University of Hradec Králové, Rokitanskeho 62, 500 03 Hradec Králové, Czech RepublicThe introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions.http://www.mdpi.com/2227-7099/6/3/46consequences of Industry 4.0economicsbusiness processeseconomy growth |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Petra Maresova Ivan Soukal Libuse Svobodova Martina Hedvicakova Ehsan Javanmardi Ali Selamat Ondrej Krejcar |
spellingShingle |
Petra Maresova Ivan Soukal Libuse Svobodova Martina Hedvicakova Ehsan Javanmardi Ali Selamat Ondrej Krejcar Consequences of Industry 4.0 in Business and Economics Economies consequences of Industry 4.0 economics business processes economy growth |
author_facet |
Petra Maresova Ivan Soukal Libuse Svobodova Martina Hedvicakova Ehsan Javanmardi Ali Selamat Ondrej Krejcar |
author_sort |
Petra Maresova |
title |
Consequences of Industry 4.0 in Business and Economics |
title_short |
Consequences of Industry 4.0 in Business and Economics |
title_full |
Consequences of Industry 4.0 in Business and Economics |
title_fullStr |
Consequences of Industry 4.0 in Business and Economics |
title_full_unstemmed |
Consequences of Industry 4.0 in Business and Economics |
title_sort |
consequences of industry 4.0 in business and economics |
publisher |
MDPI AG |
series |
Economies |
issn |
2227-7099 |
publishDate |
2018-08-01 |
description |
The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions. |
topic |
consequences of Industry 4.0 economics business processes economy growth |
url |
http://www.mdpi.com/2227-7099/6/3/46 |
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