The Fourth Industrial Revolution
The development of the Fourth Industrial Revolution, and in particular its consequences, bring about the most important contemporary challenges for the scientific world.
In recent years we have observed a growing impact of new technologies on the social and economic system. The dynamics of the changes taking place and their significance led to the forging of the term Industry 4.0 in 2011 and, consequently, the Fourth Industrial Revolution.
The New Trend Determinants
The integration of systems and creation of extensive networks account for the main determinant of the changes occurring within the latest trend. At the same time, the physical world and virtual world are being interwoven in dynamically developed cyber-physical systems (CPS), in which both people and machines integrate through the Internet and other information technologies. As a result, it is possible to communicate quickly in real time, which translates directly into process optimisation.
The integration of systems and creation of extensive networks account for the main determinant of the changes occurring within the latest trend.
Smart production systems allow for automation and improvement of the entire production process – from the stage of supply to the transport of finished products. Meanwhile, value chains are created to facilitate nter-organisational data exchange, including stakeholders (e.g. suppliers and customers).
The Importance of Economic Sciences
Economic sciences play a significant role in the process of recognising and understanding the mechanisms and effects of the Fourth Industrial Revolution. The challenges, that arise from theoretical and practicable concerns, focus on the impact of the 4.0 revolution on enterprises, the labour market, and coordination mechanisms.
Strategic Goal and Immediate Objectives
Strategic Goal: Development of the research potential of the Cracow University of Economics in the field of advanced research on the Fourth Industrial Revolution and upskilling to manage this potential effectively.
Four Immediate Objectives of the Project have been set out to be consistent with the objectives of the Strategic Research Development Plan at the Cracow University of Economics in the years 2019-2022:
- Strengthening the theoretical and methodological background for the research on the Fourth Industrial Revolution to be conducted by the senior staff members at the Cracow University of Economics
- Intensifying the research and publication activities of the staff members at the Cracow University of Economics in the international arena, based on the results of the research on the Fourth Industrial Revolution.
- Increasing the involvement of the staff members at the Cracow University of Economics in implementation of the results of the advanced research on the Fourth Industrial Revolution within the framework of the socio-economic environment.
- Institutionalisation of an effective research management system for the benefit of the staff members at the Cracow University of Economics.
The research has been intended to be carried out to address 9 key issues:
- Complexity of management in the conditions of the Fourth Industrial Revolution
- Digitisation of production and management processes
- Changes in financial markets and key market institutions
- Product management
- New industrial relations
- Development resources of the new economy
- Regulatory policy
- Mechanisms of collective action management
- Models of public goods and services production and distribution