Main Pillars Building Up the Risk Frame of Industry 4.0 Implementation in the Enterprises in Bulgaria

Borislav Nikolov

Economic Studies journal, 2023, issue 7, 77-92

Abstract: Development of the technologies is a part of the modern world and modern business. The realization of extended changes, that have been imposed by Industry 4.0, is a very serious challenge for enterprises and in most cases have a high-risk ratio. The goal of this article is to define the main risk components forming the risk frame of Industry 4.0 implementation in enterprises in Bulgaria. In this relation, research has been made, giving the opportunity for a definition of the already mentioned components of the risk frame. The research has been made on the basis of a questionnaire survey, covering 91 enterprises in Bulgaria. On this basis, eight main components are defined, which mainly determine the risk framework for the implementation of Industry 4.0 in enterprises in Bulgaria. A number of weaknesses and omissions have been outlined, which confront the realization of Industry 4.0 in Bulgarian enterprises. The risk variation in these components has also been studied, covering six risk areas identified as key risks in the researched enterprises. All this determines the current level of a significant part of enterprises in Bulgaria in the field of implementation of Industry 4.0 and also provides guidelines for taking measures to limit the impact of risk.

JEL-codes: M15 O14 O33 O38 (search for similar items in EconPapers)
Date: 2023
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