The technological revolution’s impact on business management
DOI:
https://doi.org/10.59380/crj.vi5.5107Abstract
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 CompetitivenessDownloads
References
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AMEJWAL, M., EL JAOUHARI, A., ARIF, J., FELLAKI, S. & JAWAB, F. (2022). Production Flow Management Based on Industry 4.0 Technologies. LOGISTIQUA2022. 40-46. ISSN 2166-7349. doi:10.1109/LOGISTIQUA55056.2022.9938064
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ANGELOPOULOU, A., MYKONIATIS, K. & BOYAPATI, N. R. (2020). Industry 4.0: The use of simulation for human reliability assessment. International Conference on Industry 4.0 and Smart Manufacturing. 42, 296-301. ISSN 2351-9789. doi: 10.1016/j.promfg.2020.02.094
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ASTUTI, P. D., DATRINI, L. K. & CHARIRI, A. (2023). Understanding the Antecedents and Consequences of Sustainable Competitive Advantage: Testing Intellectual Capital and Organizational Performance. Economies. 11(4). ISSN 2227-7099. doi:10.3390/economies11040120
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ELAFRI, N., TAPPERT, J., ROSE, B. & YASSINE, M. (2022). Lean 4.0: Synergies between Lean Management tools and Industry 4.0 technologies. IFAC Papersonline. 55(10), 2060-2066. ISSN 2405-8963. doi: 10.1016/j.ifacol.2022.10.011
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FERNÁNDEZ-ALLES, M., HERNÁNDEZ-ROQUE, D., VILLANUEVA-FLORES, M. & DÍAZ-FERNANDEZ, M. (2022). The impact of human, social, and psychological capital on academic spin-off internationalization. Journal of International Entrepreneurship. 20(3), 433-473. ISSN 1570-7385. doi:10.1007/s10843-022-00311-4
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FIGUEIRAS, P., LOURENCO, L., COSTA, R., GRACA, D., GARCIA, G. & JARDIM-GONCALVES, R. (2021). Big Data Provision for Digital Twins in Industry 4.0 Logistics Processes. IEEE METROIND4.0 & IOT. 516-521. doi:10.1109/METROIND4.0IOT51437.2021.9488507
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FOCACCI, C. N. & PEREZ, C. (2022). The importance of education and training policies in supporting techno-logical revolutions: A comparative and historical analysis of UK, US, Germany, and Sweden (1830-1970)*. Technology in Society. 70, 251-274. ISSN 0160-791X. doi: 10.1016/j.techsoc.2022.102000
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FUSTER, V. T. (2019). The Challenges of the Fourth Technological and Industrial Revolution in a European Pe-ripheral Society and Its Consequences in Political Governance and Legal Regulation. With Special Reference to the Valencian Community. Revista General De Derecho Administrativo. (50). ISSN 1696-9650. https://www-webofscience-com.ezproxy.techlib.cz/wos/woscc/full-record/WOS:000460613300014
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GOWRIPEDDI, V. V., BIJJAHALLI, M. C., JANARDHAN, N. & BHIMAVARAM, K. R. (2021). Role of Education 4.0 Technologies in Driving Industry 4.0. Cross Reality and Data Science in Engineering. 1231, 576-587. ISSN 2194-5357. doi:10.1007/978-3-030-52575-0_48
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HERNANDEZ, J. G. V. & SALCEDO, M. T. A. (2020). The influence and benefits of technology as a strategy in organizations. Multidisciplinary Journal for Education Social and Technological Sciences. 7(1), 32-53. ISSN 2341-2593. doi:10.4995/muse.2020.10693
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JASKOVÁ, D. (2020). Labour Market Changes in the Regions of Slovakia in the Context of Industry 4.0. Vplyv Industry 4.0 Na Tvorbu Pracovnych Miest 2019. 183-191.
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JIN, Y. G., DONG, N. Y., TIAN, G. L. & ZHANG, J. R. (2023). Wisdom of the masses: Employee education and corporate risk taking. Economic Modelling. 118. ISSN 0264-9993. doi: 10.1016/j.econmod.2022.106102
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JOSEPHNG, P. S. (2023). Innovative Usage of Grid Solutions with a Technology Behavior Model in a Medium-Size Enterprise. Applied System Innovation. 5(1). ISSN 2571-5577. doi: 10.3390/asi6010011
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KALENYUK, I., BOHUN, M. & DJAKONA, V. (2023). Investing in Intelligent Smart City Technologies. Baltic Journal of Economic Studies. 9(3), 41-48. ISSN 2256-0742. doi: 10.30525/2256-0742/2023-9-3-41-48
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KIM, J., LEE, J., YANG, E. Y. & KANG, S. K. (2023). Technology forecasting from the perspective of integration of technologies: Drone technology. KSII Transactions on Internet and Information Systems. 17(1), 31-50. ISSN 1976-7277. doi: 10.3837/tiis.2023.01.003
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KUCIAPSKI, M. (2019). How the Type of Job Position Influences
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Technology Acceptance: A Study of Employees’ Intention to Use Mobile Technologies for Knowledge Transfer. IEEE Access [online]. 7, 177397-177413. ISSN 2169-3536. doi: 10.1109/ACCESS.2019.2957205
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LEE, N. & CLARKE, S. (2019). Do low-skilled workers gain from high-tech employment growth? High-technology multipliers, employment and wages in britain. Research policy 48(9). doi: 10.1016/j.respol.2019.05.012
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LI, H. Z., AN, N. & LIU, J Y. (2021). Strategic planning, strategy map and management control: a case study. Nankai Business Review International. 12(3), 386-408. ISSN 2040-8749. doi: 10.1108/NBRI-10-2020-0054
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LI, M. X. & HUANG, G. Q. (2021). Production-intralogistics synchronization of industry 4.0 flexible assembly lines under graduation intelligent manufacturing system. Internationa Journal of Production Economics. 241. ISSN 0925-5273. doi: 10.1016/j.ijpe.2021.108272
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MASÁR, M. & HUDÁKOVÁ, M. (2020). The Impact of Human Factor on Projects of Implementation Concept In-dustry 4.0 in Manufacturing Enterprises. Vplyv Industry 4.0 Na Tvorbu Pracovnych Miest 2019. 268-276.
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PERDANA, A., LEE, H. H., ARISANDI, D. & KOH, S. (2022). Accelerating data analytics adoption in small and mid-size enterprises: A Singapore context. Technology in Society. 69. ISSN 0160-791X. doi: 10.1016/j.techsoc.2022.101966
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RAHMANI, A. M., EHSANI, A., MOHAMMADI, M., MOHAMMED, A. H., KARIM, S. T. & HOSSEINZADEH, M. (2022). A new model for analyzing the role of new ICT-based technologies on the success of employees’ learning pro-grams. Kybernetes. 51(6), 2156-2171. ISSN 0368-492X. doi: 10.1108/K-02-2021-0164
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RICHNÁK, P. (2021). Key Concept of Industry 4.0 in Production Management in Slovak Wood Processing Man-agement. WOODEMA 2021.
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ROSA, E. S., GODINA, R., RODRIGUES, E. M. G. & MATIAS, J. C. O. (2022). An Industry 4.0 Conceptual Model Proposal for Cable Harness Testing Equipment Industry. 3rd International Conference on Industry 4.0 and Smart Man-ufacturing. 200, 1392-1401. ISSN 1877-0509. doi: 10.1016/j.procs.2022.01.340
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SULEIMAN, Z., SHAIKHOLA, S., DIKHANBAYEVA, D., SHEBAB, E. & TURKYILMAZ, A. (2022). Industry 4.0: Clustering of concepts and characteristics. PRODUCTION & MANUFACTURING. 9(1). doi: 10.1080/23311916.2022.2034264
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VENTER, S. & GROBBELAAR, S. (2023). A Technology Management Capabilities Framework for Technology Platforms. IEEE Transactions on Engineering Management. 70(7), 2558-2573. ISSN 0018-9391. doi: 10.1109/TEM.2022.3172720
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References
AMEJWAL, M., EL JAOUHARI, A., ARIF, J., FELLAKI, S. & JAWAB, F. (2022). Production Flow Management Based on Industry 4.0 Technologies. LOGISTIQUA2022. 40-46. ISSN 2166-7349. doi:10.1109/LOGISTIQUA55056.2022.9938064
ANGELOPOULOU, A., MYKONIATIS, K. & BOYAPATI, N. R. (2020). Industry 4.0: The use of simulation for human reliability assessment. ISM 2019. 42, 296-301. ISSN 2351-9789. doi: 10.1016/j.promfg.2020.02.094
ANGELOPOULOU, A., MYKONIATIS, K. & BOYAPATI, N. R. (2020). Industry 4.0: The use of simulation for human reliability assessment. International Conference on Industry 4.0 and Smart Manufacturing. 42, 296-301. ISSN 2351-9789. doi: 10.1016/j.promfg.2020.02.094
ASTUTI, P. D., DATRINI, L. K. & CHARIRI, A. (2023). Understanding the Antecedents and Consequences of Sustainable Competitive Advantage: Testing Intellectual Capital and Organizational Performance. Economies. 11(4). ISSN 2227-7099. doi:10.3390/economies11040120
DAI, Y. X., HOU, J. N. & LI, X. (2021). Industry policy, cross-region investment, and enterprise investment effi-ciency. Research in International Business and Finance. 56. ISSN 0275-5319. doi: 10.1016/j.ribaf.2020.101372
ELAFRI, N., TAPPERT, J., ROSE, B. & YASSINE, M. (2022). Lean 4.0: Synergies between Lean Management tools and Industry 4.0 technologies. IFAC Papersonline. 55(10), 2060-2066. ISSN 2405-8963. doi: 10.1016/j.ifacol.2022.10.011
FERNÁNDEZ-ALLES, M., HERNÁNDEZ-ROQUE, D., VILLANUEVA-FLORES, M. & DÍAZ-FERNANDEZ, M. (2022). The impact of human, social, and psychological capital on academic spin-off internationalization. Journal of International Entrepreneurship. 20(3), 433-473. ISSN 1570-7385. doi:10.1007/s10843-022-00311-4
FIGUEIRAS, P., LOURENCO, L., COSTA, R., GRACA, D., GARCIA, G. & JARDIM-GONCALVES, R. (2021). Big Data Provision for Digital Twins in Industry 4.0 Logistics Processes. IEEE METROIND4.0 & IOT. 516-521. doi:10.1109/METROIND4.0IOT51437.2021.9488507
FOCACCI, C. N. & PEREZ, C. (2022). The importance of education and training policies in supporting techno-logical revolutions: A comparative and historical analysis of UK, US, Germany, and Sweden (1830-1970)*. Technology in Society. 70, 251-274. ISSN 0160-791X. doi: 10.1016/j.techsoc.2022.102000
FOSFURI, A., GIARRATANA, M. S. & SEBREK, S. S. (2020). Resource partitioning and strategies in markets for technology. Strategic Organization. 18(2), 251-274. ISSN 1476-1270. doi:10.1177/1476127018791329
FUSTER, V. T. (2019). The Challenges of the Fourth Technological and Industrial Revolution in a European Pe-ripheral Society and Its Consequences in Political Governance and Legal Regulation. With Special Reference to the Valencian Community. Revista General De Derecho Administrativo. (50). ISSN 1696-9650. https://www-webofscience-com.ezproxy.techlib.cz/wos/woscc/full-record/WOS:000460613300014
GAJEK, A., FABIANO, B., LAURENT, A. & JENSEN, N. (2022). Process safety education of future employee 4.0 in Industry 4.0. Journal of Loss Prevention in the Process Industry. 75. ISSN 0950-4230. doi: 10.1016/j.jlp.2021.104691
GARCIA-LORO, F., PLAZA, P., QUINTANA, B., SAN CRISTOBAL, E., GIL, R., PEREZ, C., FERNANDEZ, M. & CASTRO, M. (2021). Laboratories 4.0: Laboratories for Emerging Demands under Industry 4.0 Paradigm. EDUCON. 909-915. ISSN 2165-9567. doi:10.1109/EDUCON46332.2021.9454095
GIUSTOZZI, F., SAUNIER, J. & ZANNI-MERK, C. (2018). Context Modeling for Industry 4.0: an Ontology-Based Proposal. KES-2018. 126, 675-684. ISSN 1877-0509. doi: 10.1016/j.procs.2018.08.001
GONG, L., ZHU, D. G., LIU, Y., XIE, J., MO, Z. C. & ZHU, M. R. (2021). Technology Network Construction and Analysis Method for Technology Trends Discovery. ICIEA 2021. 464-468. ISSN 2156-2318. doi:10.1109/ICIEA51954.2021.9516339
GOWRIPEDDI, V. V., BIJJAHALLI, M. C., JANARDHAN, N. & BHIMAVARAM, K. R. (2021). Role of Education 4.0 Technologies in Driving Industry 4.0. Cross Reality and Data Science in Engineering. 1231, 576-587. ISSN 2194-5357. doi:10.1007/978-3-030-52575-0_48
HERNANDEZ, J. G. V. & SALCEDO, M. T. A. (2020). The influence and benefits of technology as a strategy in organizations. Multidisciplinary Journal for Education Social and Technological Sciences. 7(1), 32-53. ISSN 2341-2593. doi:10.4995/muse.2020.10693
HUAMANCHUMO, P. A. G. (2021). Technological singularity and transhumanism. Teknokultura: Revista De Cultura Digital Y Movimientos Sociales. 18(2), 195-200. ISSN 1549-2230. doi:10.5209/TEKN.74056
JASKOVÁ, D. (2020). Labour Market Changes in the Regions of Slovakia in the Context of Industry 4.0. Vplyv Industry 4.0 Na Tvorbu Pracovnych Miest 2019. 183-191.
JIN, Y. G., DONG, N. Y., TIAN, G. L. & ZHANG, J. R. (2023). Wisdom of the masses: Employee education and corporate risk taking. Economic Modelling. 118. ISSN 0264-9993. doi: 10.1016/j.econmod.2022.106102
JOSEPHNG, P. S. (2023). Innovative Usage of Grid Solutions with a Technology Behavior Model in a Medium-Size Enterprise. Applied System Innovation. 5(1). ISSN 2571-5577. doi: 10.3390/asi6010011
KALENYUK, I., BOHUN, M. & DJAKONA, V. (2023). Investing in Intelligent Smart City Technologies. Baltic Journal of Economic Studies. 9(3), 41-48. ISSN 2256-0742. doi: 10.30525/2256-0742/2023-9-3-41-48
KIM, J., LEE, J., YANG, E. Y. & KANG, S. K. (2023). Technology forecasting from the perspective of integration of technologies: Drone technology. KSII Transactions on Internet and Information Systems. 17(1), 31-50. ISSN 1976-7277. doi: 10.3837/tiis.2023.01.003
KUCIAPSKI, M. (2019). How the Type of Job Position Influences
Technology Acceptance: A Study of Employees’ Intention to Use Mobile Technologies for Knowledge Transfer. IEEE Access [online]. 7, 177397-177413. ISSN 2169-3536. doi: 10.1109/ACCESS.2019.2957205
LEE, N. & CLARKE, S. (2019). Do low-skilled workers gain from high-tech employment growth? High-technology multipliers, employment and wages in britain. Research policy 48(9). doi: 10.1016/j.respol.2019.05.012
LI, H. Z., AN, N. & LIU, J Y. (2021). Strategic planning, strategy map and management control: a case study. Nankai Business Review International. 12(3), 386-408. ISSN 2040-8749. doi: 10.1108/NBRI-10-2020-0054
LI, M. X. & HUANG, G. Q. (2021). Production-intralogistics synchronization of industry 4.0 flexible assembly lines under graduation intelligent manufacturing system. Internationa Journal of Production Economics. 241. ISSN 0925-5273. doi: 10.1016/j.ijpe.2021.108272
MASÁR, M. & HUDÁKOVÁ, M. (2020). The Impact of Human Factor on Projects of Implementation Concept In-dustry 4.0 in Manufacturing Enterprises. Vplyv Industry 4.0 Na Tvorbu Pracovnych Miest 2019. 268-276.
MESÁROVÁ, T., KORDOS, M. & SOKOL, J. (2019). The Impact of Industry 4.0 Initiative on Society. Vplyv Industry 4.0 Na Tvorbu Pracovnych Miest. 195-200.
MIN, H. (2022). Smart factory: a game changer or another fad in the era of fourth industrial revolution. Interna-tional Journal of Technology Management. 89(1-2), 26-45. doi: 10.1504/IJTM.2022.123006
NEWMAN, J., MINTROM, M. & O´NEIL, D. (2022). Digital technologies, artificial intelligence, and bureaucratic transformation. Futures. 136. ISSN 0016-3287. doi: 10.1016/j.futures.2021.102886
OZTURKLER, Z. (2021). Assessment of private Sector Employees in Terms of Education in Northern Cyprus. Propositos Y Representaciones. 9. ISSN 2307-7999. doi: 10.20511/pyr2021.v9nSPE1.854
PAPULOVÁ, Z., GAZOVÁ, A. & SUFLIARSKY, L. (2022). Implementation of Automation Technologies of Industry 4.0 in Automotive Manufacturing Companies. 3rd International Conference on Industry 4.0 and Smart Manufacturing. 200, 1488-1497. ISSN 1877-0509. doi: 10.1016/j.procs.2022.01.350
PERDANA, A., LEE, H. H., ARISANDI, D. & KOH, S. (2022). Accelerating data analytics adoption in small and mid-size enterprises: A Singapore context. Technology in Society. 69. ISSN 0160-791X. doi: 10.1016/j.techsoc.2022.101966
QUINN, W. (2019). Technological revolutions and speculative finance: evidence from the British Bicycle Mania. Cambridge Journal of Economics. 43(2), 271-294. ISSN 0309-166X. doi: 10.1093/cje/bey029
RAHMANI, A. M., EHSANI, A., MOHAMMADI, M., MOHAMMED, A. H., KARIM, S. T. & HOSSEINZADEH, M. (2022). A new model for analyzing the role of new ICT-based technologies on the success of employees’ learning pro-grams. Kybernetes. 51(6), 2156-2171. ISSN 0368-492X. doi: 10.1108/K-02-2021-0164
REYES, S., LUIS, M., ORDONEZ, S. & BARBARA, A. (2020). Communication management for industries 4.0. Telematique. 19(1), 75-90. ISSN 1856-4194.
RICHNÁK, P. (2021). Key Concept of Industry 4.0 in Production Management in Slovak Wood Processing Man-agement. WOODEMA 2021.
ROSA, E. S., GODINA, R., RODRIGUES, E. M. G. & MATIAS, J. C. O. (2022). An Industry 4.0 Conceptual Model Proposal for Cable Harness Testing Equipment Industry. 3rd International Conference on Industry 4.0 and Smart Man-ufacturing. 200, 1392-1401. ISSN 1877-0509. doi: 10.1016/j.procs.2022.01.340
ROSALES, M. A., MAGSUMBOL, J. A. V., PALCONIT, M. G. B., CULABA, A. B., DADIOS & E. P. (2020). Artificial Intelligence: The Technology Adoption and Impact in the Philippines. HNICEM. ISSN 2475-7152.
RUSSO, M. (2020). 39% of Firm Leaders Expect That They Will Invest in New Technology This Year. Architect. 109(6), 51-51. ISSN 1935-7001.
SCEPANOVIC, S. (2019). The Fourth Industrial Revolution and Education. MECO. 704-707. ISSN 2377-5475.
SU, C. W., YUAN, X., UMAR, M. & LOBONT, O. R. (2022). Does technological innovation bring destruction or creation to the labor market? Technology in Society. 68. ISSN 0160-791X. doi: 10.1016/j.techsoc.2022.101905
SULEIMAN, Z., SHAIKHOLA, S., DIKHANBAYEVA, D., SHEBAB, E. & TURKYILMAZ, A. (2022). Industry 4.0: Clustering of concepts and characteristics. PRODUCTION & MANUFACTURING. 9(1). doi: 10.1080/23311916.2022.2034264
TANER, Z. T. & PARLAK BICER, Z. Ö. (2021). Effect of Industry 4.0 on Project Management Factors. Journal of Polytechnic-Politeknik Dergisi. 24(4), 1461-1472. ISSN 1302-0900. doi: 10.2339/politeknik.741566
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