ABSTRACT. Despite the relevance of business models for sustainable innovation in Industry 4.0, only limited research has been conducted on this topic. Using and replicating data from Ad Hoc Research, BCG, BDO, Capgemini, CIO, EY, and McKinsey, we performed analyses and made estimates regarding the effects of Industry 4.0 on the workforce (%), advanced technologies manufacturers are planning to use (%), and average realized overall productivity gains from smart factories so far (%). The results of a study based on data collected from 5,200 respondents provide support for our research model. Using the structural equation modeling and employing the probability sampling technique, we gathered and analyzed data through a self-administrated questionnaire.
JEL codes: E24; J21; J54; J64
Keywords: sustainable innovation; Industry 4.0; smart manufacturing; digitalization
How to cite: Ludbrook, Frances, Katarina Frajtova Michalikova, Zdenka Musova, and Petr Suler (2019). “Business Models for Sustainable Innovation in Industry 4.0: Smart Manufacturing Processes, Digitalization of Production Systems, and Data-driven Decision Making,” Journal of Self-Governance and Management Economics 7(3): 21–26. doi:10.22381/JSME7320193
Received 11 April 2019 • Received in revised form 19 August 2019
Accepted 22 August 2019 • Available online 5 September 2019