Economics at your fingertips  

The Influence of Critical Factors on Business Model at a Smart Factory: A Case Study

Jerman Andrej, Erenda Ivan and Bertoncelj Andrej
Additional contact information
Jerman Andrej: Ljubljanski potniški promet, d.o.o., Slovenia
Erenda Ivan: TPV, Slovenia
Bertoncelj Andrej: University of Primorska, Faculty of management, Koper, Slovenia

Business Systems Research, 2019, vol. 10, issue 1, 42-52

Abstract: Background: The crucial elements of a smart factory, employees, machines, and products, have an important effect on current business models. Objectives: The main aim of our study is to present a case study of the impact of Industry 4.0 on the business model in a smart factory. The paper discusses the changes of business models of the organisation and determines critical factors that influence the business models in a knowledge society. Methods/Approach: Our sample included managers, from the company TPV, who are in charge of implementing a digital business model, and who are the most knowledgeable informants on the topic of our study. Data was obtained from, most widely used method for data collection in qualitative research, semi-structured interviews with managers. Content analysis was conducted for the purpose of our study. Results: Results of our study show that the major change will be that machines will have a “mind” of their own, whose main goal will be to work in production, and the role of employees will be primarily in expressing their creativity, carrying out urgent interventions and performing custody of processes. The key critical factors influencing business models in a smart factory are top management and leadership orientations, motivation of employees, collective wisdom, creativity and innovations. Conclusions: The study represents useful guidelines for strategic management of innovative companies in the earliest stages of the process of decision-making process.

Keywords: Industry 4.0; Smart factory; business model; critical factors; TPV case study (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) ... -0004.xml?format=INT (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Business Systems Research is currently edited by Mirjana Pejić Bach

More articles in Business Systems Research from Sciendo
Bibliographic data for series maintained by Peter Golla ().

Page updated 2019-06-07
Handle: RePEc:bit:bsrysr:v:10:y:2019:i:1:p:42-52:n:4