THE FOURTH INDUSTRIAL REVOLUTION IS HERE. IS EUROPEAN UNION PREPARED TO ADOPT IT?

Authors

  • Angela Albu Stefan cel Mare University, Suceava, Romania
  • Flavius Costel Clim Stafen cel Mare University, Suceava
  • Maria Sabina Albu Stefan cel Mare University, Suceava

Keywords:

digitized economy, digitization of products and services, fourth industrial revolution, Industry 4.0., knowledge intensive sectors,

Abstract

We are currently witnessing major changes in production systems, diversification and service delivery as well as business models. A new concept was introduced approx. 6 years ago - Industry 4.0. or The Fourth Industrial Revolution. This new concept refers not only to industrial branches, but encompasses the whole business environment, meaning the digitization of all physical assets in an economic entity and integration into digital eco-systems with partners in the value chain, partners that can be individuals or other economic entities. This paper aims to study the implications that the Fourth Industrial Revolution will have on production systems, services and human resources, to see how prepared we are to cope with the changes that will come in a very short horizon of time. For this purpose, the case study analyzes a number of relevant indicators at the level of the European Union and other developed countries that provide information on adapting economies to the requirements of the Industry 4.0 concept

Author Biographies

Angela Albu, Stefan cel Mare University, Suceava, Romania

Angela Albu PhD is associate professor at University “Stefan cel Mare” Suceava, Romania, Faculty of Economics and Public Administration, where she teaches Quality Management, Integrated Quality, Environmental and Occupational Health Management, and Eco-technology. She is a graduate of Chemical Engineering at the Polytechnic University from Bucharest, where she also obtained her PhD title and holds a master degree diploma in Business Administration. Also, she is graduated in Economics at Stefan cel Mare University from Suceava. She participated in several national and international projects focused on products and services quality, consumer protection, environment, and innovation and has published books, papers in international scientific journals and in the proceedings ofinternational conferences.

Flavius Costel Clim, Stafen cel Mare University, Suceava

Flavius Clim is master student at the Faculty of Economic Sciences and Public Administration. He graduated Informatics economic and now is studying at the master programme in English language Planning of New Tourism Product and Destination Management. He participated at national scientific student competitions and other activities organized by the students' associations.

Maria Sabina Albu, Stefan cel Mare University, Suceava

Sabina Albu is student at the Faculty of Economic Sciences and Public Administration, at the study programme Management. She participated at national scientific student competititons, at Summer schools and other students' activities.

Downloads

Published

30.01.2019

Issue

Vol. 8 No. 1 (2019)

Section

Business Economics, Sustainable Development, Public Administration and Law

License

An copyright form will have to accompany your submission (the signed copyright form has to be scanned). You can get the .PDF form version on-line (see the link bellow). Authors are responsible for obtaining any security clearances. All authors have to sign the copyright transfer form. There are some restrictions regarding the length of the copyright file, so please read carefully the instruction provided there.