The technological revolution’s impact on business management

Authors

  • Jaroslav Kollmann
  • Daniel Chamrada
  • Pavel Cepák

DOI:

https://doi.org/10.59380/crj.vi5.5107

Abstract

The rapid advancement of technology in the era of the fourth industrial revolution has significantly transformed organizational management practices. This study examines the influence of technological progress on organizational management, specifically analyzing the effects of data analysis and digital management methods in response to these changes. The main objective is to determine how these technological advancements impact enterprises of various sizes in the Czech Republic. The research employed comparative and analytical approaches, utilizing survey data collected from numerous organizations. Concrete methods used in the study include a comprehensive questionnaire survey, comparative analysis, and statistical correlation analysis to assess the significance of technologies based on the classification of enterprise size. The findings demonstrate substantial disparities in the implementation and advantages of technology contingent upon the magnitude of the organization, with smaller and larger enterprises exhibiting enhanced flexibility and deliberate assimilation of novel technologies. The main conclusion is that proficient administration of technology results in competitive advantages and operational efficiencies. Companies are advised to customize their technology strategies based on their available resources and market requirements. Further analysis explores the connections between investments in technology and other organizational elements such as financial resources and personnel, highlighting the importance of developing coherent plans that successfully incorporate technology into the overall structure of the organization.

Keywords:

Technology Integration, Industry 4.0, Organizational strategy, Business Competitiveness

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Author Biographies

Jaroslav Kollmann

Department of Economics, The Faculty of Operation and Economics of Transport and Communications, University of Žilina, Slovakia

Daniel Chamrada

Department of Economics, The Faculty of Operation and Economics of Transport and Communications, University of Žilina, Slovakia

Pavel Cepák

The Faculty of Corporate Strategy, Department of Management, Institute of Technology and Businesses in České Budějovice, Czech Republic

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Published

2024-07-31

How to Cite

Kollmann, J., Chamrada, D., & Cepák, P. (2024). The technological revolution’s impact on business management. CRJ, (1), 20–27. https://doi.org/10.59380/crj.vi5.5107

Issue

No. 1 (2024): CIT Review Journal

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