Industry 4.0 From a Management Perspective

Abstract

Industries have undergone three fundamental transformation processes that were revolutionary. Following these processes, industries have been confronted with the phenomenon of Industry 4.0, known as the 4th Industrial Revolution, that is acknowledged as a new transformation process. The basic dynamics of this phenomenon include smart robots, simulation, the internet of things, cloud, additive manufacturing, and big data. It is of utmost importance for businesses that are involved in this process, that are new and trying to adapt to the process, to be prepared and adapt to the effects of Industry 4.0 dynamics. These dynamics lead to significant developments in business models, business processes, organizational structures, employees, and human resource processes. When Industry 4.0 and its dynamics are evaluated in general, businesses that follow the process and make necessary managerial adjustments will be ahead of the competition.