• BUSINESS & “INDUSTRY 4.0”

    Managerial decision-making in the era of Industry 4.0

    Industry 4.0, Vol. 7 (2022), Issue 2, pg(s) 71-75

    Fourth industrial revolution also known as Industry 4.0, is a concept that significantly influences the entire operation of businesses and management. It necessitates changes in individual managerial functions, not excluding decision-making. In management theory, managerial decision making is defined in terms of content through descriptive and normative theories. The aim of the presented article is to examine the normative and descriptive understanding of decision – making in the context of adaptation of individual approaches to changes in the business environment – especially adaptation to technological progress related to the fourth industrial revolution. An overrated aspect of decision-making in this era is its rational side due to the rapid development of computer technology and the availability of rich software support. On the other hand, there is a tendency to bring to the decision-making process the involvement of all involved, collective judgment, the ability to learn from the development of the situation or openness to feedback. The understanding of the decision-making process thus moves from its traditional concept to a new understanding, which includes the above-mentioned factors. Development leads to their integration in the form of a direction that does not yet have a name but means a synergy of rational decision-making and critical thinking and reasoning in the context of descriptive theories. The overall optimal result of the decision-making process is influenced by objective criteria through a rational-normative model, environmental characteristics and subjective influences, personality, and cognitive complexity of the manager.

  • BUSINESS & “INDUSTRY 4.0”

    Changes of human resource management in the context of impact of the fourth industrial revolution

    Industry 4.0, Vol. 5 (2020), Issue 3, pg(s) 138-141

    Fourth industrial revolution also called Industry 4.0, is considered as the most discussed topics among experts nowadays. The excitement for the Industry 4.0 goes two ways. First says that the fourth industrial revolution deals with the question of “a priori” and not “ex-post”. Organizations and research institutions gain opportunities for active building and forming of the future. Secondly, it has significant economic impact, which promises much higher operational efficiency, as well as development of brand-new business models, services and products. At the moment, organizations are able to run without elements of the Industry 4.0, but only for a limited time. They have to look for a path of further development, and that is digitalization in each field of business. With help of human resource management, organizations are able to form skills, abilities, behaviour and attitude of employees in order to achieve the targets of organization. Human resources represent significant factor for competitive advantage in the knowledge economy. In the Industry 4.0 considering human resource management, managers have to mainly focus on supporting of innovation and learning in the organization. The main goal of this article is to identify changes in methods and techniques during realization of human resource management in the context of the impact of fourth industrial revolution in theory, based on research of available scientific literature. Attention is mainly focused on selected functions of human resource management like job design, staffing, training and performance appraisal