scholarly journals The Approach to Industry 4.0 within the Slovak Business Environment

2019 ◽  
Vol 8 (4) ◽  
pp. 104 ◽  
Author(s):  
Adriana Grenčíková ◽  
Marcel Kordoš ◽  
Jakub Sokol
Keyword(s):  
Labor Force ◽  
Statistical Methods ◽  
Industry 4.0 ◽  
Slovak Republic ◽  
Business Environment ◽  
Development Strategies ◽  
Short Term ◽  
Logical Deduction ◽  
Top Managers ◽  
Hr Managers

Academics, executives and top managers have solid, but also diverse, views on the Industry 4.0 issue, as do the employment policymakers. Without urgent and targeted measures to manage the short-term transition and shape the labor force with the skills needed for the future, governments will have to face increasing unemployment and social impacts, while companies will have to deal with a sluggish consumer base. The main goal of this paper is to find out how managers are perceived and informed about the Industry 4.0 concept and how quickly these views are changing. To accomplish this goal, methods such as analysis, synthesis, statistical methods and logical deduction are to used along with the conducted survey being executed by a questioner method. The conducted survey presented by the authors in this paper aims to support the discussion and open up opportunities for further action by providing views to HR managers in strategic employers who are among the leading representatives of new trends and are the key actors in the implementation of future labor development strategies in the Slovak Republic.

scholarly journals Impact of Industry 4.0 on labor productivity in the Slovak Republic

2020 ◽  
Vol 18 (2) ◽  
pp. 396-408
Author(s):  
Adriana Grenčíková ◽  
Marcel Kordoš ◽  
Vladislav Berkovic
Keyword(s):  
Labor Market ◽  
Labor Force ◽  
Labor Productivity ◽  
Industry 4.0 ◽  
New Technologies ◽  
Slovak Republic ◽  
Industrial Enterprises ◽  
Registration Number ◽  
Grant Agency ◽  
The Impact

The Fourth Industrial Revolution bears major technological, demographic, and socio-economic changes affecting nearly every area in business. Within the human resources area, both a surplus of labor and the creation of brand new professions are to be expected. Industry 4.0 concept significantly affects labor productivity in individual countries and does not miss the Slovak Republic either. All segments of the labor market, not just industrial enterprises, will be affected. The present study aims to analyze the possible development of labor productivity in Slovak companies and determine its development in the next period, considering the decreasing number of working-age populations in terms of the fallouts on creation and termination of jobs and occupations. The questionnaire carried out in 319 enterprises in the Slovak Republic with a received response of 228 was a key research tool used to analyze the results of the survey. The findings show that although the labor force within the Slovak labor market will not increase, the labor force will decrease due to unfavorable demographic development. The overall productivity in Slovak companies will increase due to the new technologies implementation. The results have proved that the Industry 4.0 concept will significantly affect labor productivity in the world economy and the Slovak Republic. In particular, the recommendations aim to draw attention to changes in job structure and the need to reform the education system because of Industry 4.0 requirements. Acknowledgments This paper was supported by the Slovak Ministry of Education’s Scientific grant agency VEGA: “The impact of Industry 4.0 on jobs structure changes”. Project registration number: [Reg. No.: 1/0430/18]. This paper was supported by the Slovak Ministry of Education’s Scientific grant agency VEGA: “Assessment changes in the qualitative structure of international economic relations under the influence of Industry 4.0 with implications for the EU and Slovak economic policies”. Project registration number: [Reg. No.: 1/0462/20].

Financial Performance of ECIL, Hyderabad – An Analysis

2013 ◽  
Vol 3 (2) ◽  
Author(s):  
N. Jyothi ◽  
Dr. T. Satyanarayana Chary
Keyword(s):  
Public Sector ◽  
Performance Analysis ◽  
Private Sector ◽  
Financial Performance ◽  
Business Environment ◽  
Present Position ◽  
Short Term ◽  
Comprehensive Manner

Financial performance of individual organizations differ very significantly, however, the performance is distinguishable between public sector companies and private sector companies as their nature and size of investment and business environment is different . The ECIL is a very vast growing company which requires additional funds on a regular basis, whether internal or external. Particularly, the company needs both long term and short-term finances in view of its present position and enormous scope for improvement in the services provided. The present paper is a modest attempt to discuss the financial performance analysis of ECIL, Hyderabad in terms operating profits, capital employed ratios and turnover in a comprehensive manner over a period of 10 years.

scholarly journals The New SWOT for a Sustainable World

2021 ◽  
Vol 7 (1) ◽  
pp. 18
Author(s):  
Leandro Pereira ◽  
Miguel Pinto ◽  
Renato Lopes da Costa ◽  
Álvaro Dias ◽  
Rui Gonçalves
Keyword(s):  
Open Innovation ◽  
Swot Analysis ◽  
Business Environment ◽  
Short Term ◽  
The Core ◽  
Essential Tool ◽  
Management Positions ◽  
Forward Looking

In today’s complex and changing business environment the concern with sustainability has gained more notoriety. However, companies still do not have a sustainable perspective, but a short-term one, where their values are constantly forgotten and this concept is no longer welcomed. This research demonstrates the need for companies to adapt and to start acting in this direction. Following a set of interviews conducted with professionals with management positions of high responsibility, findings reveal that although sustainability is on the management mind, strategies and tools need to be adapted to be at the core of the organization’s strategic formulation. To support this process, a new SWOT analysis to fit a forward-looking sustainable world is proposed. Furthermore, due to the aggregative nature of the model, it represents an essential tool for an open innovation. “SWOT i” integrates the concern with sustainability as one of its pillars, placing the values and impacts that each decision can have at the center of the strategic formulation, allowing their performance to leverage.

Development of Composite Indicators of Cyclical Response in Business Surveys

2021 ◽  
Vol 28 (2) ◽  
pp. 24-41
Author(s):  
L. A. Kitrar ◽  
T. M. Lipkind
Keyword(s):  
Large Scale ◽  
Integrated Approach ◽  
Early Response ◽  
Business Environment ◽  
Economic Behavior ◽  
Retail Trade ◽  
Composite Indicators ◽  
Business Activity ◽  
Short Term ◽  
Current Output

The article proposes a new set of composite indicators-predictors in business tendency surveys, which allow identifying early information signals of a cyclical nature in the economic behavior of business agents. The main criterion for the efficiency of such indicators is their sensitivity to a cyclical pattern and changes in the dynamics of statistical referents. Property such as a statistically significant lead in time series or earlier publication allows them to be combined into indicators of early response. The composite Business Activity Indicator (BAI) in the basic sectors of the Russian economy is calculated by the authors for the first time based on the results of regular (monthly and quarterly) business surveys of Rosstat for 1998–2020 with a large-scale coverage of sampling units. In 2020, the number of survey respondents averaged about 20,000 organizations of all sizes. The index reflects the «common» profile in the dynamics of short-term fluctuations of the key parameters of the economic environment, which consists of the «balances of opinions» of respondents to the questions unified for all sectoral surveys and connected with the reference quantitative statistics with cross-correlation coefficients that are statistically significantly different from zero, with a lead at least one quarter. This is its main difference from the well-known indices of economic sentiment and entrepreneurial confidence. The main components of the BAI are the new composite indices of real demand, current output, real employment, total profits and economic situation. They aggregate the relevant «order» statistics for the basic sectors of the national economy, including the main kinds of industrial activities, retail trade, construction, and services.The article provides a methodological substantiation and an extended procedure for identifying the BAI components; their composition is formed for the entire set of retrospective results of business tendency monitoring in Russia. A new Aggregate Economic Vulnerability Indicator with a counterdirectional profile and varying degrees of symmetry of its dynamics relative to the short-term movement of the BAI is being introduced as the main limitation of business activity. Proactive monitoring of emerging vulnerabilities in the business environment is necessary to warn their large-scale accumulation, prevent the risks of economic downturns and ensure the highest possible macroeconomic stability. This integrated approach makes it possible to determine the novelty of the proposed measurements of short-term cyclical fluctuations in economic development.

An analysis of Industry 4.0 implementation-variables by using SAP-LAP and e-IRP approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Veepan Kumar ◽  
Ravi Shankar ◽  
Prem Vrat
Keyword(s):  
Industry 4.0 ◽  
Business Environment ◽  
Content Type ◽  
Qualitative And Quantitative ◽  
Wide Range ◽  
Interpretive Ranking Process ◽  
Relevant Variables ◽  
Manufacturing Organization ◽  
Industry Associations ◽  
Practical Implications

PurposeIn today’s uncertain business environment, Industry 4.0 is regarded as a viable strategic plan for addressing a wide range of manufacturing-related challenges. However, it appears that its level of adoption varies across many countries. In the case of a developing economy like India, practitioners are still in the early stages of implementation. The implementation of Industry 4.0 appears to be complex, and it must be investigated holistically in order to gain a better understanding of it. Therefore, an attempt has been made to examine the Industry 4.0 implementation for the Indian manufacturing organization in a detailed way by analyzing the complexities of relevant variables.Design/methodology/approachSAP-LAP (situation-actor-process and learning-action-performance) and an efficient interpretive ranking process (e-IRP) were used to analyze the various variables influencing Industry 4.0 implementation. The variables were identified, as per SAP-LAP, through a thorough review of the literature and based on the perspectives of various experts. The e-IRP has been used to prioritize the selected elements (i.e. actors with respect to processes and actions with respect to performance) of SAP-LAP.FindingsThis study ranked five stakeholders according to their priority in Industry 4.0 implementation: government policymakers, industry associations, research and academic institutions, manufacturers and customers. In addition, the study also prioritized important actions that need to be taken by these stakeholders.Practical implicationsThe results of this study would be useful in identifying and managing the various actors and actions related to Industry 4.0 implementation. Accordingly, their prioritized sequence would be useful to the practitioners in preparing the well-defined and comprehensive strategic roadmap for Industry 4.0.Originality/valueThis study has adopted qualitative and quantitative approaches for identifying and prioritizing different variables of Industry 4.0 implementation. This, in turn, helps the stakeholder to comprehend the concept of Industry 4.0 in a much simpler way.

Participatory Ergonomics: Current Approaches to Improving Organizational Effectiveness and Quality of Work Life

1988 ◽  
Vol 32 (13) ◽  
pp. 755-755 ◽  
Author(s):  
Ogden Brown
Keyword(s):  
Labor Force ◽  
Organizational Effectiveness ◽  
Business Environment ◽  
Work Life ◽  
Quality Of Work Life ◽  
Participative Management ◽  
Participatory Ergonomics ◽  
Quality Of Work ◽  
Single Approach

Participatory ergonomics is an idea whose time has come! There are many approaches which have been utilized by organizations to improve productivity and enhance quality of work life. Participation itself is not a new idea, but because of current organizational and environmental forces for change, new organizational philosophies are emerging which are developed, designed, and operated with participation of the employees concerned and which do result in improved organizational effectiveness and quality of work life. Organizations in the turbulent environments of today must be able to quickly adapt to conditions of change. Many major forces for change have emerged which significantly impact managerial philosophies and behaviors. In this decade, in fact, the rules of business have changed drastically and permanently. Market conditions, foreign competition, and high growth markets are major forces in today's environment along with societal values, composition of the labor force, type of product, and the general business environment itself. An effective approach to management would suggest that it address these forces for change in order to adapt and succeed. No single approach utilizing participatory techniques is universally effective: a contingency approach is advocated. Basic assumptions underlying a contingency model include the notion that no single approach will be effective under all circumstances, and that most approaches utilized today will be effective under a certain set of conditions. It appears that some form of participative management meets current needs primarily because it best suits the labor force, today's technologies, and current societal conditions. The major participative management approaches discussed include quality circles (currently the most popular), job enrichment strategies, cooperative union-management quality of work life programs, gainsharing plans, and the development and operation of self-managing work teams. Also discussed is an emerging innovation in participative management, use of the parallel organization. There are other methods available, to be sure, but these appear to be the principal participative approaches of today. Most participatory approaches and techniques are not new. What is new and very important is the commitment on the part of the organization to adopt what may become organization-wide change strategies through the use of participatory management strategies. The ultimate goal, of course, is to achieve improved organizational effectiveness, product quality, and enhanced quality of work life.

scholarly journals Maturity Level of Kosovo Manufacturing Industry with regard to Industry 4.0

2018 ◽  
Vol 6 (3) ◽  
pp. 1-8
Author(s):  
Fatmir Azemi ◽  
Edmond Hajrizi ◽  
Bekim Maloku
Keyword(s):  
Industry 4.0 ◽  
Manufacturing Industry ◽  
Industrial Revolution ◽  
Chief Executive ◽  
Business Environment ◽  
Average Score ◽  
Furniture Industry ◽  
Manufacturing Companies ◽  
Maturity Level ◽  
Unskilled Workers

In this paper the concept of Maturity Level of Kosovo Industry will be presented according to the Industry 4.0. Digitalization of factory has impact the entire business environment and lead to Smart Enterprises. To create a model of Smart Factory, first we have analyzed the existing situation of Kosovo Manufacturing Industry with regard to revolution of Industry. In this paper we will describe the results of a recent research at the Kosovo manufacturing companies and are included metalworking and furniture industry, where is developed a Maturity Level for Kosovo Industry. To describe the Maturity Level of Kosovo Industry we have delivered questionnaire and have been done interviews with CEOs (Chief Executive Officer). The average score of Industrial Maturity Level for Kosovo Industry is 2.14 which represent 2nd Industrial Revolution, but some of enterprises belong to 3rd Industrial Revolution. Also, the main barriers of this low level of Maturity Level of Kosovo Industry are highlights based on questionnaire and interviews with CEOs, such as: lack of training programs, language barriers, high cost of purchasing/maintenance of technology, unskilled workers, and est.

scholarly journals ATTITUDE OF SLOVAK SMALL AND MEDIUM-SIZED ENTERPRISES TOWARDS RISK MANAGEMENT – INVESTIGATION OF THE REGIONAL DIFFERENCES

2019 ◽  
Vol 7 ◽  
Author(s):  
Matej Masár ◽  
Mária Hudáková
Keyword(s):  
Risk Management ◽  
Empirical Research ◽  
Regional Differences ◽  
Slovak Republic ◽  
Business Environment ◽  
Employee Education ◽  
Level Of Education ◽  
Customer Expectations ◽  
Long Time ◽  
Current Business

Contemporary trends highlight the need for education in each enterprise. The current business environment is characterized by many changes such as increased customer expectations and high levels of competitiveness in the environment. World trends, shows, that managers and owners of small and medium-sized enterprises (SMEs) perceived the need to take care of risk management in their enterprise. This issue has been analyzed and discussed for a long time. It is necessary to concentrate on this field mainly in the Slovak Republic. SMEs in Slovakia are very sensitive to changes in the environment. The aim of this paper is to investigate regional differences in the attitude of Slovak SMEs towards risk management, with special emphasis on the attitude towards significance of the education in the field of risk management based on empirical research, which was provided by authors in 2017. This paper will evaluate: the level of dependence between the selected Slovak regions and the created space for discussion about risks in SMEs, the level of dependence between selected Slovak regions and the created space for employee education in risk management in SMEs, and the level of dependence between selected Slovak regions and the required education possibilities in the field of risk management. It will use: association, the Pearson’s coefficient and the Tschuprov coefficient for evaluating the results. Overall results of the empirical research point towards the significance and importance of using risk management in SMEs. The results, shows, that there is a very large association between investigating dependence. Based on the results, it is necessary to improve the level of education in the field of risk management, which will be based on current entrepreneurial requirements.

scholarly journals PENGARUH PARTISIPASI MANAJER TERHADAP EFEKTIVITAS SISTEM INFORMASI AKUNTANSI

2018 ◽  
Vol 2 (1) ◽  
pp. 65-70
Author(s):  
Ikromi Abd Ghani HSB ◽  
Dovi Septiari
Keyword(s):  
Information System ◽  
Human Resources ◽  
Research Method ◽  
Accounting Information ◽  
Business Environment ◽  
Positive Influence ◽  
Short Term ◽  
Accounting Information System ◽  
Independent Variable

The development of the business environment in globalization era has been triggered an increasingly tight business competition. Every companies who have an established its own strategies to manage a variety of information, human resources, allocation of funds and others. Accounting information system is a great resources that very valuable to an organization for the smoothness management of the company’s financial and decision making wheter it is to long term and short term, however there are several aspect that can be a factors the effectiveness of the accounting information system, that is manager’s participation. The research is aimed to proves that manager’s participation and manager’s involvement had a positive influence on the effectiveness of accounting information system (AIS) at manufacturing company, especially in the industrial zone Batamindo Mukakuning Batam City. The research method is using regression analysis to proves are the manager’s participation (independent variable) and manager’s involvement (independent variable) gives effect to the effectiveness of information system (dependent variable) or not. The result of this research is shows that variable of manager’s participation and manager’s involvement has a significant influence to the effectiveness of information system. The method is using purposive sampling is done by taking a sampling of the population according to certain criteria.

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