Characteristics of the Business Environment in the Context of Industry 4.0

Authors

Keywords
business environment, Industry 4.0, impact

Summary
Today’s business organisations operate in an extremely complex and rapidly changing business environment. Among the reasons for this dynamics are rapid technological progress, business globalization processes, changes in consumer requirements, etc. The fourth industrial revolution and the massive application of the technologies associated with it in all aspects of our lives, in combination with the COVID-19 pandemic, have significantly strengthened all these processes, changing important factors of the surrounding business environment and thus posing new requirements and challenges for companies. In this regard, this article examines the main groups of macro factors of the business organizations' environment, analyzes some changes in them and some new requirements caused by Industry 4.0, that business organizations should take into account in the process of strategic business planning.

JEL: L20, L22, M21
Pages: 15
DOI: 

More titles

  • Indifference in economics: comment on Nozick, Hoppe and Wysocki

    Nozick (1977) set a challenge for Austrian economics. On the one hand, this school of thought rejects the notion of indifference, and along with it, indifference curves. On the other hand, the praxeological school accepts the concepts of supply and demand curves. But the latter supposition logically implies indifference, in that the persons for ...

  • The Role of Democracy in Reaching Public Consolidation

    In this article, we analyzed in historical aspects of the Bulgarian authors related to the formation of the values of democracy. A logical connection with some of them is the analyzed leading goals and principles in the Preamble of the 1991 Constitution. They form the image of constitutional democracy. Based on modern theoretical statements and ...

  • Bulgarian Political Culture

    Through the fundamental theoretical understanding of political culture written by Gabriel Almond and Sidney Verba, we explain its essence, structural components and public mission. In this article, we are reviewing the creation and development of Bulgarian political culture throughout its history. This understanding is based on its social role - ...