1st Edition

Smart Business and Digital Transformation An Industry 4.0 Perspective

Edited By Sándor Gyula Nagy, Tamás Stukovszky Copyright 2023
    210 Pages 48 B/W Illustrations
    by Routledge

    210 Pages 48 B/W Illustrations
    by Routledge

    Beginning in the mid-2010s, the Fourth Industrial Revolution has seen remarkable changes in information technology that have blurred the boundaries between the physical, digital and biological worlds. Industry 4.0 has enabled so-called smart factories in which computer systems equipped with machine learning algorithms can learn and control robotics with minimal need for human input. While smart technology has enabled many manufacturing businesses to increase efficiency and cut costs, many others are still struggling with implementing it.

    This book aims to help students, practitioners and industry leaders to become change agents and take their first steps on the path of transformation. Smart Business and Digital Transformation addresses the challenge of becoming "smart" from three different perspectives: smart factory, smart industry and smart environment. Covering technologies including the Internet of Things (IoT), cloud, artificial intelligence (AI), mobility, 5G and big data analytics, the book shows how enterprises can take advantage of them and ultimately beat the competition. The book considers the importance of operational processes, business models and organisational culture. The contributing authors and editors, based at Corvinus University, present a multidimensional picture of Industry 4.0 which is both diverse in its voices and unified in its vision. Smart Business and Digital Transformation meets the growing demand for a textbook that not only presents the latest concepts and theories but is also practical for planning, managing and implementing digital transformation in practice.

    The chapters include case studies to demonstrate the practical applications, and each chapter ends with review and discussion questions to develop students’ skills and competencies. Students of business and digital transformation on advanced undergraduate and MBA courses will find it an indispensable guide to a vibrant and challenging topic.



    Part I Smart factory

    1 Definitions and principles of Industry 4.0

    Zsolt Roland Szabo, Lilla Hortovanyi and Sandor Aszity

    2 The concept of continuous and smart improvement

    Zsolt Roland Szabo and Lilla Hortovanyi

    3 The layers of I4.0 systems

    Sandor Aszity and Lilla Hortovanyi

    4 Connectivity and data sharing with stakeholders inside and outside the organisation

    Lilla Hortovanyi

    5 Data mining, analysis and evaluation

    Andrea Kő and Tibor Kovacs

    6 Lean 4.0

    Emil Evin, Dušan Sabadka, Lilla Hortovanyi, Sandor Gyula Nagy and Tamas Stukovszky

    7 Artificial/enhanced intelligence

    Andrea Kő and Tibor Kovacs

    8 AI’s impact on the labour market

    Roland Zsolt Szabo and Bettina Boncz

    Part II Smart business transformation

    9 The business model of I4.0

    Zsolt Roland Szabo, Sandor Aszity and Lilla Hortovanyi

    10 Marketing planning in a smart industrial environment

    Barbara Jenes

    11 Smart supply chain

    Gelei Andrea

    12 Fintech and smart banking

    Lilla Hortovanyi, Sandor Gyula Nagy, Dora Horvath and Zsolt Roland Szabo

    Part III Smart environments

    13 Smart cities

    Mate Szilard Csukas and Zsolt Roland Szabo

    14 Construction 4.0

    Orsolya Heidenwolf and Roland Zsolt Szabo

    15 Smart agriculture

    Andras Gabor and Zoltan Szabo

    16 Society 5.0

    Ilona Cserhati


    Sándor Gyula Nagy, PhD, is Full Professor and the Director of the Research Centre for Supplier and Industrial Development, Corvinus University of Budapest, Hungary.

    Tamás Stukovszky, PhD, is research fellow at the Research Centre for Supplier and Industrial Development of the Corvinus University of Budapest, Hungary.