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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

Frances Ludbrook
This email address is being protected from spambots. You need JavaScript enabled to view it.
The Sharing Economy Platforms Laboratory
at CSA, Montreal, Canada
Katarina Frajtova Michalikova
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Faculty of Operation and Economics
of Transport and Communications,
Department of Economics,
University of Zilina, Zilina, Slovak Republic
Zdenka Musova
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Faculty of Economics,
Matej Bel University, Banska Bystrica,
Slovak Republic
Petr Suler
This email address is being protected from spambots. You need JavaScript enabled to view it.
The School of Expertness and Valuation,
The Institute of Technology and Business
in Ceske Budejovice, Czech Republic

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