New Generation of Productive Workers

2021 ◽  
pp. 1632-1646
Author(s):  
Rok Cresnar
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Personal Values ◽  
Business Environment ◽  
Mediating Effect ◽  
Employee Productivity ◽  
Competency Models ◽  
Modern Business ◽  
New Generation

The main purpose of this chapter is to consider how can the millennials' personal values impact employee productivity in the future organizational environment of Industry 4.0. In the modern business environment, major changes are happening in many fronts. On one hand, we have the phenomenon of digitalization and Industry 4.0, and on another hand, we see that the millennials are rapidly taking over important roles and positions in those organizations that are impacted by digitalization. If we consider the notion that the new industrial revolution behind Industry 4.0 will be based on major improvements in productivity due to the mediating effect of a technological revolution, then the role of employee productivity or better say the millennials' productivity will be paramount. This chapter shows that based on deep analysis of millennials' personal values worldwide, the millennials hold prominent personal values, which correspond well with Industry 4.0 readiness and competency models, meaning that they can significantly impact the productivity of an organization.

New Generation of Productive Workers

2020 ◽  
pp. 261-275
Author(s):  
Rok Cresnar
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Personal Values ◽  
Business Environment ◽  
Mediating Effect ◽  
Employee Productivity ◽  
Competency Models ◽  
Modern Business ◽  
New Generation

The main purpose of this chapter is to consider how can the millennials' personal values impact employee productivity in the future organizational environment of Industry 4.0. In the modern business environment, major changes are happening in many fronts. On one hand, we have the phenomenon of digitalization and Industry 4.0, and on another hand, we see that the millennials are rapidly taking over important roles and positions in those organizations that are impacted by digitalization. If we consider the notion that the new industrial revolution behind Industry 4.0 will be based on major improvements in productivity due to the mediating effect of a technological revolution, then the role of employee productivity or better say the millennials' productivity will be paramount. This chapter shows that based on deep analysis of millennials' personal values worldwide, the millennials hold prominent personal values, which correspond well with Industry 4.0 readiness and competency models, meaning that they can significantly impact the productivity of an organization.

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.

Fraud Triangle Theory: Calling for New Factors

2021 ◽  
Vol 7 ◽  
pp. 54-64
Author(s):  
Naqiah Awang ◽  
Nur Syafiqah Hussin ◽  
Fatin Adilah Razali ◽  
Shafinaz Lyana Abu Talib
Keyword(s):  
Business Environment ◽  
Economic Downturn ◽  
Fraud Triangle ◽  
Risk Area ◽  
Motivation Factors ◽  
Detailed Evaluation ◽  
Modern Business ◽  
Prior Literature ◽  
Triangle Theory ◽  
New Generation

The famous financial scandal of Enron, WorldCom and 1 Malaysia Development Berhad has harmed the auditor’s reputation as the protector of shareholders’ rights. Auditors have done their part by conducting systematic audit procedures and “What Could Go Wrong” analysis in assessing the possible risk area to assist fraud detection in the client’s financial matters. However, fraud cases never seem to decline. Regardless of any safeguarding measures established, fraud incidents can just occur and be worsened by economic downturn and prolonged inflation especially after the pandemic ends. Additionally, the characteristic of the modern business environment, technology sophistication and new generation traits had challenged Cressey Fraud Triangle Theory on its validity and relevancy. Therefore, associating all these possible challenges into consideration, this study aims to review prior literature related to the evolution of Cressey fraud theory to propose a new insight in considering relevant motivation factors that drive fraud penetrations. From the review, the study discovered the need for a detailed evaluation and research on the essential fraud element in constructing an all-rounded fraud prevention mechanism.

scholarly journals Maturity Level of Kosovo Manufacturing Industry with regard to Industry 4.0

2018 ◽  
Vol 6 (3) ◽  
pp. 1-8
Author(s):  
Fatmir Azemi ◽  
Edmond Hajrizi ◽  
Bekim Maloku
Keyword(s):  
Industry 4.0 ◽  
Manufacturing Industry ◽  
Industrial Revolution ◽  
Chief Executive ◽  
Business Environment ◽  
Average Score ◽  
Furniture Industry ◽  
Manufacturing Companies ◽  
Maturity Level ◽  
Unskilled Workers

In this paper the concept of Maturity Level of Kosovo Industry will be presented according to the Industry 4.0. Digitalization of factory has impact the entire business environment and lead to Smart Enterprises. To create a model of Smart Factory, first we have analyzed the existing situation of Kosovo Manufacturing Industry with regard to revolution of Industry. In this paper we will describe the results of a recent research at the Kosovo manufacturing companies and are included metalworking and furniture industry, where is developed a Maturity Level for Kosovo Industry. To describe the Maturity Level of Kosovo Industry we have delivered questionnaire and have been done interviews with CEOs (Chief Executive Officer). The average score of Industrial Maturity Level for Kosovo Industry is 2.14 which represent 2nd Industrial Revolution, but some of enterprises belong to 3rd Industrial Revolution. Also, the main barriers of this low level of Maturity Level of Kosovo Industry are highlights based on questionnaire and interviews with CEOs, such as: lack of training programs, language barriers, high cost of purchasing/maintenance of technology, unskilled workers, and est.

scholarly journals Does CSR Enhance Young Bank Customers’ Satisfaction and Loyalty in a Developing Economy? The Mediating Role of Trust

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Rabia Rasheed ◽  
Stella Zulu-Chisanga
Keyword(s):  
Customer Satisfaction ◽  
Developing Economies ◽  
Positive Association ◽  
Business Environment ◽  
Corporate Identity ◽  
Point Of View ◽  
Mediating Effect ◽  
Mediating Role ◽  
Customer Satisfaction And Loyalty

The role of corporate social responsibility (CSR) on firm performance is well documented in the literature. Although the majority of the evidence available points to a positive association between CSR and determinants of company performance such as monetary performance, personnel commitment and corporate identity, findings still remain rather inconclusive as negative or no correlation results are also reported. In addition, little is known about how CSR is perceived from a bank customer’s point of view and studies examining its effect on customer satisfaction and loyalty in developing economies are scanty. Drawing insights from the stakeholder and signaling theories, this study examines the effect of CSR on customer satisfaction and customer loyalty. The study also examines the mediating role of trust on these relationships. Data from 348 bank customers in Zambia indicate that CSR positively affects satisfaction and loyalty. It was also established that trust has a significant mediating effect on the relationships. With the increase in complexity and dynamism of today’s business environment banks are advised to be more socially responsible as one way of building trust and customer satisfaction and loyalty.

scholarly journals Strategic company management in the digital business environment

2018 ◽  
Vol 26 (3-4) ◽  
pp. 82-91
Author(s):  
Mykola Gennadiyovych Nikolaev
Keyword(s):  
Strategic Management ◽  
Industrial Revolution ◽  
Design Method ◽  
Business Environment ◽  
Future Research ◽  
Digital Environment ◽  
Doing Business ◽  
Analysis And Synthesis ◽  
Modern Business ◽  
The Impact

Purpose – to analyze strategic company management in the digital business environment. Design/Method/Approach. General scientific methods are applied: systematization, comparison, generalization, analysis, and synthesis. Findings. The essence of strategic management and its significance to a company has been analyzed. The relationship between strategic company management and digital business environment has been elucidated. Basic trends for doing business in the digital environment have been defined. Theoretical implications. Theoretical significance of the research is in the advancement of opinion on the strategic company management in digital business environment. Practical implications. The practical value of the research is in the possibility of applying the results obtained by both international and domestic companies for strategic management in the digital business environment that emerged as a result of the Fourth industrial revolution. Originality/Value. The main trends of modern business in the digital environment have been identified. The choice of strategies of multinational companies has been identified, as well as the areas of their application in digital business environment. Research limitations/Future research. The prospects for further research are to study the strategic management of international companies and analyze the impact of digital business environment on their development. Paper type – theoretical.

scholarly journals Role of Information Technology Capabilities on Product Innovation Performance: Mediating Role of Corporate Entrepreneurship

2018 ◽  
pp. 94-121
Author(s):  
Abdul Wahab .
Keyword(s):  
Information Technology ◽  
Product Innovation ◽  
Sampling Technique ◽  
Corporate Entrepreneurship ◽  
Business Environment ◽  
Innovation Performance ◽  
Mediating Effect ◽  
Organizational Level ◽  
Entrepreneurial Activities

Despite the surplus studies demonstrating the significance of information technology capabilities in business growth with innovation, the knowledge of the approaches through which such benefits can be attained and their connections, expertise, and influence to other organizational and managerial aspects are yet limited. Purpose: To fill the research gap by studying the relationship between Information technology capabilities and business innovation within corporate entrepreneurial activities and also examining the mediating effect of Corporate Entrepreneurship, its sustainable approach at managerial level and contribution in market research towards emerging demands of IT. This study is also focusing on the skills, processes, and modifications to achieve such goals; also the implications for the managers dealing with product innovations in dynamic organizations. Design: Selected design for this study is descriptive in nature following a quantitative approach with stratified random sampling technique. The data is collected from 315 IT executive and managers from the population of 50 manufacturing firms in Karachi, Pakistan. Findings: Using data collected from the concerned population in the dynamic business environment, Researcher found the corporate entrepreneurship partially mediating the correlation between product innovation performance and information technology capabilities in an organization. These variables being studied are the observed elements of organizational progress and success; and their impacts on innovation, growth, and success are recognized and attested with the help of hypothesis testing in this research. Significance: This study is providing guide and support to organizations and policymakers incorporate entrepreneurial activities at different firms and managerial levels. Furthermore, this research study fills the existing gap by incorporating corporate entrepreneurship (CE) at the organizational level and contributes to the more robust development, understanding and involvement of IT to improve the overall business value.

scholarly journals THE IMPACT OF THE COVID-19 PANDEMIC ON INDUSTRY 4.0 IN THE CONTEXT OF GLOBAL ECONOMIC DEVELOPMENT

InterConf ◽  
2021 ◽  
pp. 54-59
Author(s):  
Bohdana Hunko
Keyword(s):  
Economic Development ◽  
Industry 4.0 ◽  
Global Economy ◽  
Industrial Revolution ◽  
Negative Consequences ◽  
Negative Effects ◽  
Technology Industry ◽  
World Economic ◽  
The Impact

The paper analyzes the role of Industry 4.0 in the process of overcoming the global economy from the crisis situation associated with the total Covid-19 pandemic. The aspect of economic profitability of using the technologies of the fourth industrial revolution to improve world economic development in the context of the Covid-19 pandemic was also identified. The author identified the positive and negative consequences of the involvement of technology Industry 4.0, on the basis of which a number of recommendations for small and medium-sized businesses were formed in order to quickly overcome the negative effects of the crisis. Based on the work, the author formulated a number of trends and prospects for global economic development, taking into account the current conditions of the Covid-19 pandemic.

scholarly journals Economies of Scale and Network Economies in Industry 4.0. Theoretical Analysis and Future Directions of Research

2018 ◽  
Author(s):  
Giacomo Büchi ◽  
Monica Cugno ◽  
Rebecca Castagnoli
Keyword(s):  
Mass Production ◽  
Industry 4.0 ◽  
Economies Of Scale ◽  
Industrial Revolution ◽  
New Production ◽  
Future Directions ◽  
Enabling Technologies ◽  
Production Models ◽  
Cost Differentials

This paper analyses the role of cost differentials in the fourth industrial revolution. It uses a literature review in order to identify origins, definitions, enabling technologies and changes in company productivity. Research results show how certain Industry 4.0 enabling technologies help obtain better economic results in mass production and others that support new production models in mass production: mass customization and mass personalization. This paper is of a theoretical nature and identifies certain reflections concerning Industry 4.0’s role in managerial literature by providing interesting lines to be developed in future directions of research.

Emerging Trends and Opportunities for Industry Development at the Sub-National Level in Russia

2019 ◽  
pp. 342-363 ◽  
Author(s):  
Leyla A. Gamidullaeva ◽  
Natalia S. Merkulova ◽  
Ludmila I. Kryachkova ◽  
Zoya A. Kondratieva ◽  
Yulia A. Efimova ◽  
...  
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
National Level ◽  
Climatic Conditions ◽  
Strong Impact ◽  
Emerging Trends ◽  
Level Of Economic Development ◽  
Level Of Knowledge ◽  
The Relationship

The authors believe that the transition to Industry 4.0 will have a strong impact on the level of urbanization in Russia. The level of urbanization is influenced by many factors, which include the level of economic development of the country, migration of the population, natural and climatic conditions. The highest level of urbanization is typical for industrialized regions. This suggests that it is necessary to develop industry and move to Industry 4.0. The purpose of this chapter is to show the relationship between urbanization and Industry 4.0, as well as to increase the level of knowledge about digital production, the internet of things, the Industry 4.0, and urbanization. The chapter explains the role of Industry 4.0 in the current changing environment. The chapter deals with the most important problems and opportunities of the fourth industrial revolution.

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