INDUSTRY 4.0 – ARE WE READY?

Abstract

The concept of Industry 4.0 is a new reality of the modern economy, because innovation and technological development play an important role in each organization. Industry 4.0 significantly changes products and production systems concerning the design, processes, operations and services. Certainly, the implementation of this concept has further consequences for management and future jobs through creating new business models. The objective of the present paper is to present the attitude of entrepreneurs to Industry 4.0, to indicate readiness for implementing the elements of the concept and to point out the barriers, which may possibly threaten enterprises in the effective achievement of a higher technological and organizational level. The research conducted in the paper is based on secondary data, obtained from many professional reports and studies, carried out by State institutions, consortia or enterprises. The international analyses coming from those documents show a significant interest in challenges imposed on companies by the Fourth Industrial Revolution. The majority of the respondents recognize the concept of Industry 4.0 as a great opportunity for development and improvement in competitiveness, although the state of preparations for its implementation varies widely depending on country, sector, or even an individual company.