International Scientific Journals
of Scientific Technical Union of Mechanical Engineering "Industry 4.0"

Big Data is becoming one of the most important technology trends. It presents a potential that is radically changing the way organizations use their information to be closer to customers by organizing in a way that benefits from the customer experience and transforms their business models.
Although Big Data is an ever-climbing trend in terms of industry, its meaning is still hidden by many conceptual ambiguities. The term is used to describe a wide range of concepts: from technological ability to storage, aggregation, data processing and finally their generation. In this paper the focus is at Big Data, because they are the technology of the future and in one way or another, they are affecting every field of industry. Furthermore, companies are increasingly trusting the possibility of using data as a valuable business asset to benefit and bring a competitive advantage compared to other companies. In the paper is presented also a SWOT Analysis that is conducted about Big Data information showing the strengths, weaknesses, opportunities, and risks that they carry. Also are presented the challenges of Big Data Technologies for the future. At the end of the paper, there are conclusions and recommendations about the topic.

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.

The main issues are considered in this topic: In this paper is explained the product life cycle model, the brand life cycle model, the comparison between them. The objective of this paper is to present what is brand, brand positioning, the difference between branding and brand refresh, what is branding and what is brand refresh and how to apply it to your image. When you can rebrand or use brand refresh, what is brand strategy and the questions that can be the first step in developing a successful brand strategy.

Explosive changes in technology are having a significant impact on all industries. Robotics, artificial intelligence, cyber physics systems, cloud computing, IoT and blockchain technology, 5G, nanotechnology, 3D printing are all defining elements of Industry 4.0. The integrated use of these methods enables the perception and display of the external environment, which significantly enables improvements in each industry. In the future, we expect a fusion of physical, digital, and biological technologies, which will provide new opportunities for innovative solutions. The authors of the present study present a future study to predict innovative solutions to key global challenges.

The importance of innovation is increasingly emphasized and understood these days to ensure the future growth of enterprise and its survival. Innovations allow companies to coordinate their operations with changes that occur in their environment, changes in the market and with the ever-changing needs of customers. Innovation is understood as a very important factor of organizational performance and its survival and prosperity in a competitive environment. The company’s innovative potential represents the company’s ability to implement all innovation processes and defines how effectively the company can not only create but also use its innovations. The company’s innovation and innovative potential are the most important and complex issues that companies currently face and is the key to the success of all organizations. The competition that companies have to compete with is strong and over time the customer requirements themselves are becoming more and more demanding, so it is increasingly important for the company to be aware of its innovative potential, which it can develop by introducing and using new innovations. It is important for companies to be able to anticipate and address the challenges that come their way and transform them into creative and innovative solutions and to respond effectively to unforeseen events. The main aim of the paper is, based on the analysis of theoretical knowledge, to identify innovation and innovative potential in business management reflecting current changes and challenges in the environment, and to assess their importance by Slovak companies.

In today’s business environment, companies need to take responsibility for their actions and their impact on stakeholders. The company-society relationship must be reciprocal.In this report, we consider implementing innovations in SMEs doing business in Bulgaria, the performance of CSR in practice and whether there is an understanding of the relationship between them. The theory is illustrated by data from an empirical study of 300 companies by the report’s author.

The budget of the European Union is a cornerstone factor in the financial existence of the continent, and a highly important factor in the global economy. Due to both the global Coronavirus pandemic, and the new formations of global trade in the Asia region, the entire world is focusing even more on the way the European Union will finalise its directives for investment for the next programme period between 2021 and 2027. Any impact on the budget will reflect upon programmes supporting Member State innovation.
With the aid of five experts on the field of the European Union, economics, financial culture of Europe, and other relevant topics, a roundtable focus group was formed online to obtain a qualitative insight into the changes in the perspective of the Union towards 2021. The main idea of the authors is to wrap a larger research around parametrising the measurement of innovation in the Union, and making a simplified system for Hungarian SMEs for ease of understanding, and more accessible tender application process. Changes in the finer directives of the Union are necessary, to serve as a basis for selection among the several dozens of criteria the EU employs.

The COVID-19 pandemic is one of the biggest challenges facing modern society and business. In a dynamic crisis situation such as the current one, the forecasts for the impact of COVID-19 on the world economy and the development of individual business structures are changing. Business is facing more and more difficulties, and uncertainty and uncertainty are increasingly taking over global and economic life. The implementation of an anti-crisis policy based on innovation is becoming key to tackling the pandemic. The main objective of this study was to demonstrate the challenges of bio-enterprises during corona virus pandemic in Bulgaria and the opportunities they can draw to create innovation. A number of research methods and techniques for the tertiary and empirical part of the work were applied in the aim of realizing the objects and goals of the research – economical, statistical, mathematical, descriptive, comparative, monographic, graphical, questionnaire survey, etc. Initial contact and other basic information about all organic producers are collected from the official register of the Ministry of Agriculture and Food of the Republic of Bulgaria – a database of producers, processors and traders of organic products and food produced in organic production in a way that maintains such an up-to-date database. The analysis is based on data processing by 234 surveyed representatives of bio-enterprises from all sectors of the bioeconomy in Bulgaria. The data analysis result shows that many small and large businesses are suffering challenges and this unprecedented coronavirus crisis has caused destruction for many businesses in the globe and it is challenging to survive with reduced revenue, jobs lost and life slowing down and weak marketing performance even difficult to keep a calm head and their business alive. To support these businesses the government should use different mechanisms by cooperating with wealthy peoples and other non-governmental organizations. Besides, the bio- business owners should manage expectations and communicate with staff, suppliers, banks, and customers throughout this coronavirus frightening. Reduce expenses, be open to their employees about their finances and keep marketing, use different alternatives to deliver their product and recover from the crisis. The changes in the production and economic activity as a result of the imposed measures for limiting the infection have been studied; the main risks threatening future development and the type of anti-crisis innovative decisions taken by management.

In the last decades innovations are defined as main priority. Overtime they become an instrument for achieving economic growth and social progress, increasing life standard and aiding in resolving difficult economic problems. The integration, globalization and concurrence define the goal of business organizations to become more innovated, adaptive and flexible in order to never stop developing, gain concurrence advantages and preserve their market share. They always have to take into consideration the constant changing conditions, the turbulent business environment and the increased consumer requirements for end products. In response of this necessity a new innovating model has been created and implanted, better known as open innovation. This relatively new modern concept shows significant potential for developing and by doing this it finds a place in the business practice. By proving its effectiveness through achieving positive results, the open innovation is established as a successful and useful model for innovation, outlining different per spectives and new routes for developing business organizations.

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

Innovation in the global economy has been very intense in recent decades. Changing the industry based on digitalization and the introduction of 5G technology brings new challenges and opportunities.
There is a serious construction industry in the field of transport construction that fully or partially caters to the industry. The transition to a “smart”, digitalized and decentralized industry is yet to come. In the field of railroads, centralization and conservatism are respected. It is preferable to follow world practice, patents and regulations. The theme of EU rail interoperability also gives its specificity, but the development towards the robotic industry is yet to come. Change must first be studied, designed and implemented. The report analyzes the existing situation and formulates conclusions for innovations in the construction industry serving the transport construction industry.

The relevance of this article most effectively shows the need to move the modern domestic economy to a new, innovative level. The main problem is that in the scientific literature there is no official confirmation of the effectiveness of innovative methods of stimulation. The methodological framework includes observation, theoretical analysis, and conclusions. The main research methods include: analysis of modern concepts of innovation, comparative analysis of the practice of innovation activity of a number of regional enterprises, and a comparative method. The study gave the following results: it showed that most enterprises were able to form innovative competence through the tools used, which confirms the effectiveness of the proposed method. This is also due to stricter competition conditions, complications in interactions with international partners, etc. This article provides an analysis of the innovation activity of a number of regional campaigns, describes ways to stimulate the innovation activity of subjects, and suggests ways to use tools to stimulate the innovative activity of subjects in the innovative aspect. Therefore, the conclusion of this study expands the knowledge about the possibilities of the innovation process and the potential in the learning process at the enterprise and the possibilities of improving economic phenomena, thereby allowing the domestic economy to move boldly in the right direction